Be Bold to be Sold

Selling a property is different from selling goods on eBay. Of course, eBay is a good way to be found. However, there are lots of things to consider. Remember that if you make a little mistake, your home might end up collecting dust or become ruins –a would-be UNESCO heritage site. The market value of the property decreases the longer it stays up for grabs in the market. It becomes overpriced, thus, losing potential buyers.

AGENT

007 might not be capable of selling properties despite his charm. Look around for an agent that is competent enough to do his job. You can contact an agency and select the best agent for you. Choose somebody who has the most excellent listings. Make sure to read the contract before giving the green light to the agency. Ensure that the length of the term is suitable for you. Also, check the fees for advertising and if it’s possible to cancel it. Once an agent is chosen, negotiate his commission. He might cut the amount because the competition among them is steep. Another thing to commit to memory is to listen to the agent. Nowadays, people think that they are geniuses when reading some articles on the web. Agents are there for a reason. They are professionals that can hold your hand as you go along the selling process.

PRICING

Look for comparables around your area. Comparables are properties that resemble yours. If you have a chalet type house, don’t compare it to a castle. Owners metaphorically regard their homes as castles that they get attached to them. Hence, clouds their decision to figure out the right price. Pricing is a tricky thing because it involves emotion at times. Real estate agents can guide you through it by teaching you about CMA (Competitive Market Analysis). Luckily, this service is likely to be without charge. They can also point out a unique feature at your property that can boost up its value. If not provided by the agent, ask him to give you with active and sold comparables, and market statistics. These will help you understand the pricing more.

FIRST IMPRESSION

Tidy up before an open house. Who would like to live in a place that is nasty? A place like a murder scene with bullet holes might be attractive to a few. The majority don’t want to see that, though. They want to see firework (or at least feel it) as they enter your house, feel like they are in Disneyland…well, that’s exaggerated. You get the picture, right? If it’s within your budget, hire a stager. Agents can be confused what to do or improve for home showings. Home staging is getting more and more popular. Professionals beautify the house by adding furniture and decorations that can amaze the buyers. Some would even bake a pie to stimulate not only the sense of sight but also the sense of smell. Don’t forget to take care of the outside as well. Mow the lawn is the least you can do.

OFFERS

Pick the best offer. Choose wisely not according to the price but the conditions. The highest bidder may not be the best if the conditions are at your disadvantage. The high price can blind you when deciding and the conditions may be concealed by the bright amount of hefty lot of cash. For that reason, a lower offer may be the finest option if it doesn’t have any conditions that would lead to your doom.

Bio:

Ernest works with home and real estate sites which really gives him the thought of materializing his passion about kitchen furniture and home designs especially in housesfor sale in Calgary.

Foreign investors return to Spain

A year after fleeing Spain as its economy tottered on the brink of a full-blown sovereign bailout, foreign investors are coming back.
The prospect of relatively high returns in a eurozone economy emerging from recession with a strong corporate presence in Latin America is apparently proving irresistible.
Among the latest converts, Microsoft co-founder Bill Gates snapped up in September a 5.7-percent stake in Spanish construction and services group FCC for 108 million euros ($147 million).
News of the US billionaire's decision sent FCC stock surging more than 10 percent in a single day and made headlines in the Spanish media.
"Foreign investment is returning to Spain," said state secretary for business Jaime Garcia Legaz as he presented a report last month on sovereign funds by the Spanish business school ESADE.
"They are expecting a Spanish economic recovery," he added.
"It is clear that the perception of Spain has changed. It is improving week by week."
Spain would enjoy a surplus in its current account -- the broadest measure of trade including financial flows -- equal to two percent of its economic output at the end of this year, he forecast.
That would be a far cry from the 10-percent current account deficit Spain posted in the depth of the financial crisis, which erupted in 2008 after the collapse of a decade-long property bubble.
Between January and August this year, foreigners ploughed nearly 19 billion euros in net direct investments into Spain, twice as much as they had in the same period a year earlier.
The money is welcome in a country gingerly emerging from a two-year recession as it narrows its public deficit, boosts competitiveness and struggles with a jobless rate of 25.98 percent.
"The Spanish market is regaining its attraction," said France's ambassador to Spain, Jerome Bonnafont, describing the change as "a turning point".
"There is a clear increase in spontaneous questions from French companies about Spain," said Richard Gomes, local director of Ubifrance, an organisation that helps French firms to operate internationally.
Sovereign funds are banking on Spain, too, showing particular interest in companies that have a strong presence in Latin America, according to the ESADE study.
Among the most emblematic investments, Singaporean sovereign fund Temasek has ploughed money into Repsol, and Abu Dhabi's IPIC is now the full owner of Spanish petroleum and gas group Cepsa.
Maria Victoria Zingani, financial director at another Spanish oil giant, Repsol, said Temasek had also approached her company in 2012 as it toured Southeast Asia to lure foreign investors. Today the fund, which has visited Repsol installations in Brazil and Bolivia, holds a 6.23-percent stake in the group.
Sovereign funds are looking for highly diversified companies with long-term growth prospects and a presence in Latin America, she said.
"It is a phenomenon that is growing and will continue to grow," said ESADE professor Javier Santiso.
The ESADE study identified 82 sovereign funds in the world with total assets of more than $5.5 trillion.
After initially targeting infrastructure and energy industries, they are increasingly looking at the new technology sector while also casting a cautious eye at property, Santiso said.
According to the ESADE study, Asian funds especially from Singapore and China are emerging as the big investors in Spanish companies, a change from just two years ago when Arab funds, in particular Qatar Holdings, were the leaders.
Qatar Holdings took stakes of more than six percent in Banco Santander and energy group Iberdrola, spending more than $2 billion on each investment as it banked on their strong presence in Brazil. It is now the main shareholder in Iberdrola with 8.18 percent of the company.
"Sovereign funds anticipated the return of foreign investors, betting on Spain since 2011," said Antonio Hernandez, analyst at financial advisory group KPMG, predicting they would continue to do so in 2013.

Source: au.news.yahoo.com

Distressed Property Investors In Spain Turn To Buy2let Market

Domestic and overseas real estate investors are engaging in bulk-buying of foreclosed properties in Spain so that they can rent them out. Repossessed property assets in prominent urban centres in the country can be purchased at 71.6 per cent below their original price, on average. During 2012, a legislation that enticed people to invest in rental real estate was passed, and under this law, inflation will have no association with rental rates. Landlords can now increase rental rates more frequently.

According to the same law, duration of leases was reduced along with the waiting period for the eviction of tenants who do not meet payments on time. In addition, the law stated that overseas owners who rent out properties to employed individuals who are under thirty years of age could claim tax relief between sixty and hundred per cent on the income from their rental properties.

Individual property buyers, however, have seen tax breaks set aside. Regular citizens who are struggling with a falling disposable income as well as the credit crunch, have now lost hope of entering into the property market. The main reason for this is that the demand for rental homes is expected to rise dramatically in the coming years. The recession has officially ended for Spain as it recorded an economic growth of 0.1 per cent during Q3 of 2013.

Institutional investors buying properties in bulk

A good number of respected property investors such as Goldman Sachs and Blackstone Group concentrate on purchasing foreclosed properties in bulk, especially apartments that have already been occupied in major urban centres such as Madrid. The demand for homes in these centres is high, and tenants are usually able to afford rental payments. Three months ago, Blackstone Group purchased eighteen apartment buildings from Madrid’s local government for more than 125 million Euros. A month later, Azora Capital and Goldman Sachs purchased more than 20 social-housing establishments from the city government.

Madrid has several portfolios to attract high profile institutional investors to Spain. Most portfolios are huge and contain more than 1000 housing units in addition to garages and other amenities. The asking prices are set over 50 million Euros for these portfolios, and investors are ready to bid their way to the purchase.

Source: property-abroad

Deeply ambitious in Calpe

CALPE was named the ideal site for the deepest swimming pool in the world.
The Oceanus 51 group announced its choice of location during the Mediterranean Dive Show held recently in Calpe.
The 51-metre deep pool is the brainchild of Calpe diver Julio Parra who revealed that the Marina Alta town and its tourist infrastructure provide an ideal setting for the project.
The Calpe pool, designed to represent a cave, would be 18 metres deeper than the Nemo 33 pool in Brussels.
“Calpe is definitely our first option.  Now we must get this across to the town hall ,” Parra said.
The pool, entirely funded by private investment will cost between €5 and €6 million but the town hall would have nothing to pay, according to Parra.    All Oceanus 51 requires is approximately 3,000 square metres of municipal land for the pool and its installations for which it would pay ground rent.
The project would bring around 300,000 divers and the families to Calpe each year, the diver predicted and would low-season tourism.  “Divers would come year-round,” Parra pointed out.

Source: euroweeklynews.com

Spain's economic outlook improving, says Moody's ratings agency

Ratings agency Moody's has raised its outlook for Spain's economy from "negative" to "stable".

Moody's said there had been a real improvement in the economy and government finances.
Last week, the Standard and Poor's ratings firms also raised its outlook for Spain on signs of economic improvement.
Debt-laden Spain has emerged from a two-year recession, with export growth and companies becoming more confident.
But unemployment remains high, at 26%, and economic growth is expected to be shallow.
Nevertheless, Moody's said: "The external accounts continue to improve, the situation in the labour market has stabilised and the private non-financial sector continues to deleverage."
Moody's left the overall rating for Spanish debt unchanged at Baa3 - just above junk-bond level - but the change in the outlook reduced the likelihood of another downgrade as the country works to rebound from its financial crisis.
"The external accounts continue to perform better than expected, with Spain among the few EU countries to see its export market share increase over the recent past," Moody's said.
The firm said that it "expects the strong export performance to continue, as competitiveness is supported by very low wage and price increases."
Another key change is the government's increasing access to private capital markets, Moody's said.
Last week, S&P raised its outlook from negative to stable, and re-affirmed its BBB- long-term sovereign credit rating.
Spain's economy grew 0.1% in the July-to-September period, after contracting for the previous nine quarters - officially lifting it out of recession.
Prime Minister Mariano Rajoy's government is hoping economic growth will help reduce Spain's spiralling public debt, currently 943bn euros (£792.5bn; $1.3 trillion), or more than 92% of the country's entire gross domestic product (GDP).
The country's banks, which received 41bn euros of EU bailout funding in 2012, have been gradually reducing their borrowings from the European Central Bank over the last year.

Source: www.bbc.co.uk

Will this week's data support further Sterling strength?

Sterling finished off Friday with a final flourish, rounding off a strong week for the UK currency with data highlighting that mortgage grants were at their highest level since 2008.

Sustained strength saw new heights on Friday as sterling reached the highest level in over two years against the US dollar after a fourth consecutive weekly rise, whilst also experiencing a three week high against the euro. This week, there is a whole range of data being released in the UK which is liable to cause some movements in the markets.

The manufacturing, construction and services sectors will release their Purchasing Managers Index (PMI) figures on Monday, Tuesday and Wednesday respectively. Thursday then holds the regular Bank of England’s decisions over the quantitative easing and official bank rate, with the accompanying statements of higher impact, before Friday closes with the less influential consumer inflation expectations.

Given recent movements and events for the currency, all of the above will be important in seeing whether the currency can consolidate its position and hold on to these very strong levels. Get in touch with your trader now for the latest sterling rates at the start of another

LIONS HOPE FOR THE PHILIPPINES

The Torrevieja Costa Lions Club are now in full stride with fund raising for those in most need in the Philippines, following the tragic outcome of Typhoon Haiyan. On Sunday 17th November the Lions in association with Sunshine FM hosted 6 hours of music, dance and entertainment at The Emerald Isle in La Florida.
 At very short notice Simon Morton Managing Director and Presenter on Sunshine FM pulled together a fabulous array of entertainers, including Dan Davy, Nik Gold, local X Factor winner Yasmin Dumbreck, Sunflower Valley, Matrix Studio, Raquel Pena Dancers,
The Jazz Singer Neil Diamond, and the super tenor voice of Paul Michael ably assisted by the falsetto voice of Simon Morton, Total Dance Group from Benijofar and an excellent Elvis Presley (Simon Morton style) performance to kept the audience enthralled into the early evening. With an excellent prize draw and the great generosity of the regulars at
The Emerald Isle the Lions were able to raise 1,609.36 towards their fund raising efforts.
On Wednesday 20th November The Lions promoted and hosted the Rogers and Hammerstein musical South Pacific which was performed by Footlights Theatre Group from Calpe to a full house in Teatro Municipal in Torevieja.
Originally the Lions had planned to donate any profits from the show to Reach Out, the Torrevieja Charity for the homeless and needy in Torrevieja, however the Directors of Reach Out asked that on this occasion that any profits are sent to help the Lions Hope for the Philippines Appeal.
The Lions agreed to accept this very generous offer from Reach Out, and have promised to return to Reach Out early in the new year to lend their support.
On the evening of South Pacific there was a prize draw and bucket collection for the Philippines raising a magnificent 808.07euros. Once all the theatre and Footlights bills are payed the Lions share of the profits will also go to the Philippines appeal
Coming up there are prize draws at various locations in the area, Lo Marabu Quesada, Post Box Quesada, IBEX Insurance La Zenia, Paddy's Point La Zenia, and Quesada Fish and Chips.
There are also fund raising fun nights in the following locations- Paddy's Point on Friday 29th November at 1900 hrs, Lo Marabu on Wednesday 4th December at 1800 hrs and O Sheas' on Friday 6th December at 2000 hrs.
As usual the Lions will be joining JB Brass at La Zenia beach on Christmas Day around 1145 hrs.

Source: theleader.info

Spain Says 4 Regions Posted Annual Property Price Increases in 3Q

Spain's government said Thursday that four of the country's 17 regions, including the Madrid metropolitan area, posted property price increases in the third quarter compared with the same period a year ago, even as overall prices in the country remained in decline.
In a press release, the country's development ministry said property prices in Greater Madrid, with over 10% of Spain's population, rose 0.3% on the year. The biggest increase, at 4.8%, was posted by the Balearic Islands, a relatively small region with a high percentage of foreign residents, particularly Germans. The other two regions with higher property prices, Navarre and Extremadura, are also among the country's smallest.
In Spain as a whole, the ministry said, property prices fell 4.5% on the year and by 0.5% from the second quarter. This is the slowest pace of decline since early 2011, when the country was sliding towards a double-dip recession that it only left behind in the third quarter of this year.
According to the ministry's estimates--which are similar but not exactly the same as those made by the country's statistics institute--Spanish property prices have fallen without interruption since the second quarter of 2008, and are down 29% in the period.

Source: online.wsj.com

Commercial interest in Spain is green light for investors

Once commercial investors return to the market it gives buyers a green light signalling growth is on the way and this is likely what is happening in Spain. Residential sales may still be lacklustre, but research from BNP Paribas Real Estate has shown Spanish property investment is on the up. Between the first and third quarters of the year, some €2 billion (£1.7 billion approximately) was ploughed into the commercial real estate market. Large portfolio acquisitions in retail made up a considerable proportion of this, followed by the office sector and hotel market.

Madrid and Barcelona were the main sites of investment, with the average value varying between €20 million and €40 million. Interest has also been increasing for housing portfolios - another sign the tides are turning for the residential market. Luis Martín Guirado, president of BNP Paribas Real Estate Spain, said: "The opportunities offered by Spain as a country go far beyond the success which it has justifiably achieved in fields such as tourism, sports and cuisine. So why do we believe that this year will be particularly favourable for real estate investment in Spain? We are seeing capital values for all types of real estate assets and the price of land at the lowest levels seen in recent years, representing a unique opportunity."

Valencia is another city worth targeting and alongside Madrid and Barcelona, it is expected the area will enjoy moderate but stable rents before growth returns in the future. Mr Guirado believes yield compression will take place, driving good returns for investors in all sub-sectors. However, it is unlikely this will occur until the second half of 2014, as improvement is dependent on the recovery of the occupational market.

Access to credit is also likely to remain a problem for all investors, be they commercial or residential. This means to capitalise on Spain's low prices, buyers need to come to the table in a strong financial position, with as much cash as possible. 

Source:  propertyshowrooms.com

Spanish Citizenship with Property Purchase attracts Foreign Buyers

Desperate times call for desperate measures, and last year Spain was so anxious for an economic quick fix that it was prepared to give away citizenship for a song.
For property purchases of a mere €160,000 (HK$1.7 million), foreign buyers would gain automatic residency, Trade Minister Jaime Garcia-Legaz announced in November last year. With more than 700,000 unsold houses remaining from the 2007 real estate collapse, and no sign of improvement domestically given Spain's 25 per cent unemployment rate, Chinese and Russian investors were targeted, he said.

The plan was widely condemned by other EU nations with higher entry levels - Spain was seen as "selling itself too cheaply", says Barbara Wood, director of The Property Finders, a property search company. But a year is a long time in real estate, and when the law was finally ratified on October 1, the threshold for residency had been lifted to €500,000.
Non-nationals also have to buy mortgage-free, and citizenship is no longer a given. The initial visa will be for two years and will be renewed if the property is still owned at that time. Application for citizenship will be allowed after 10 years.

What's changed, apart from international sentiment, is the real estate landscape itself. According to official data, residential sales volume increased by 2.3 per cent year-on-year in June - a modest jump, but a gain nonetheless. Purchases by foreigners increased by 28.4 per cent in the second quarter, making year-on-year growth for eight consecutive quarters.

Agents and developers anticipate that the relaxed laws on foreign ownership - known as the "golden visa" - will encourage a raft of overseas buyers. The €500,000 spend doesn't have to be on just one property - the amount is accumulative, so buyers can build a portfolio of two or more cheaper properties.
Lucas Fox, a Barcelona-based estate agency and Knight Frank's representative in Spain, has already noticed an increase in inquiries from Russian, Indian, Chinese and American investors. Furthermore, "sales have begun to rise more recently as British and Scandinavian buyers return to the market", the agency says.

Wood believes the previous 90-day visa was a disincentive to buy, whereas now non-EU citizens can come and go as they please. "I get the sense that even if the purchaser is not thinking about full-time residency now, they are thinking about somewhere safe to invest in property in case they do want or need to move," she says. "Western Europe is seen as a safe, stable environment, with good health facilities, good education and free movement within the Schengen Area" of common international borders.
According to Lucas Fox data, prices in some of Spain's most desirable areas have fallen up to 50 per cent since the property crash. By its reckoning, prices have bottomed out in some areas of Barcelona, the Costa Brava region, Ibiza and Marbella, while sales are up, by 13.5 per cent in Barcelona alone from January to May compared to the same period last year.

Alexander Vaughan, co-founder of Lucas Fox, says: "The first six months of 2013 saw further encouraging developments in the property market in prime areas of Spain. In all regions we cover, the numbers of offers and sales completed were significantly up on the same period in 2012."
The luxury property market is doing particularly well, primarily in Barcelona, the Costa Brava region, Ibiza and Mallorca, where the average sales price of properties sold by Lucas Fox in the first six months was over €1 million. In these key areas, the property markets are still being driven by international clients, Vaughan says.


Marc Pritchard, sales and marketing manager at Taylor Wimpey España, reports "staggering" increases in overseas buyers of its developments in Mallorca, Costa Blanca and Costa del Sol: 2,500 per cent more from the Middle East, and 300 per cent more from Russia and Lithuania from January to May compared to the same period last year.
Buyers are looking for new or modern, well-priced properties in a good location, Pritchard says. "With market prices currently at the level of a decade ago, clients are buying a second home for lifestyle reasons - a property to enjoy holidays with the family in a warm and nice area, close to the Mediterranean Sea."

Spain's housing market pain may be around for a long while yet, but the industry is taking heart from the latest 0.8 per cent price drop in the second quarter, the smallest drop since the fourth quarter of 2010.
Vaughan says Spain remains a buyer's market. "Even the best properties [are] transacting at 20 to 30 per cent below their peak prices, and sellers are increasingly open to negotiation on asking prices. Our advice to potential buyers is to focus on location and quality.
"There are some great deals to be had, and we think that in most areas - particularly Barcelona, the Costa Brava and Marbella - prices are at, or very close to, the bottom. We expect the trend of sellers lowering asking prices in line with buyer expectations to continue for at least the rest of 2013 and quite possibly the next couple of years."

Wood, whose Putonghua- and Cantonese-speaking colleague Pei Ching Eh deals with the Chinese and Asian markets, says inspection flights from China have been arriving for several months in anticipation of Portugal's "golden visa" law change, "and Chinese are buying".

"Spain is a much bigger market, better climate - I would expect much more interest," she says.
However, Wood cautions those not familiar with the market. "Just because something looks cheap doesn't mean it is a bargain. The market is still very price- and location-sensitive. In my opinion, prices in the non-prime locations and of lower quality still have not hit bottom and, although Chinese buyers will see what looks like incredibly cheap prices, they need to take great care - not everything is a good buy."

Source: scmp.com

Property Market In Europe Expected To Stabilize

The residential real estate markets in Europe are expected to stabilize over the next year. However, the housing market in France is forecaster to undergo further damage as the interest rates in the country continue to rise. Economists and real estate insiders in France say that the economic conditions are becoming weaker and housing affordability is limited as credit standards have become tighter and continue to decrease residential property prices in the country.

However, there are tentative signs pointing towards the achievement of stability in prices in other European countries. The next two years are crucial in determining the future of the continent, and the outlook appears good at the moment. As a matter of fact, market insiders expect improvements in every European nation excluding France.

There are many nations which are yet to deal with reeling housing markets following the burst of the real estate bubble. Countries such as Spain had experienced some of the hardest times recorded in modern history. Although prices are expected to go down by eight per cent in Spain and by around five per cent in Italy over the course of 2013, the decrease is set to slow. In other major European nations where residential real estate prices are on the rise, increases are set to slow as we enter into 2014.

Real estate activity to drive economic growth

According to many economists in the continent, a recovery of domestic residential property markets could prove to be a powerful source as economic activity in Europe seeks a boost. In addition to residential investment, even consumer spending will increase and eventually help domestic markets recover in due time.

However, France is expected to experience a further decline in property prices as stats suggest that the country’s residential values will fall to four per cent next year in comparison with three per cent this year. One of the main reasons as to why France may suffer is the country’s high expectations of attracting interest from the US and the UK. The laws in France are very strict and potential buyers are cautious about investing in the nation’s real estate market.

No hope for France just yet

The number of French home buyers has been declining over the years, and the taxes on real estate sales are expected to be revised next year, thus causing a further decline in interest. Housing prices in France have remained quite stable in comparison with other countries since the economic crisis unfolded in 2008. But sales are reducing more than prices.

Market insiders say that homes in France are still considered expensive by investors who are also scouring other European markets. Although France was thought to have dealt with the recession during Q2 this year, the growth of 0.5 per cent means that sustainability is still very far. Orders for residential real estate assets in the country are expected to decline in October this year as staffing level continues to decline at several real estate firms.

Source: property-abroad.com/

Should You Purchase a Used or a New Home?

If you are thinking about buying a new home you may be wondering whether you should be looking at used or new ones. There are a lot of different things that you'll want to consider since this is probably going to be a long-term purchase. Here are some of the things to think about when you're trying to decide between a fresh new home that has never been lived in versus a home that has already been occupied.

Nothing beats the smell of fresh new paint

Buying a new home is quite similar to purchasing a brand-new car. There's a smell that permeates the air and seems to change from one room to the other. Everything is fresh and new and sparkling clean! You know that you'll be the first owner and won't have to worry about any small dirt particles you see floating around. They are probably just building remnants left over by the construction crew.

If you have anyone in the house that has allergies or asthma, getting a brand-new house may be something that's best for health reasons. You won't have to worry about any lurking odors from past animals that have lived in the home or perfume bottles that may have spilled onto a piece of carpeting in the bedroom. You are starting with a clean slate and can preserve the home as an allergy-free one as long as you live in it.

If you're looking for a home with character

You may want to consider looking at older homes if you want one that comes with built-in character. Most recent homes just don't have the gentle charm that can be found in older homes. A lot of the newer housing is put up in a cookie-cutter type of fashion with one house looking exactly like the next one or at least having very similar qualities to it.

When you travel through one of the older and establish parts of town, you'll see a wide variety of homes that don't look anything alike. When you step into the properties, you'll be amazed to see some of the intricate features and room layouts in the house. Sometimes these homes are laid out in such a fashion that they become a maze and you don't know which room you will be stepping into next. True character is very difficult to find in a brand-new house unless you get it individually designed and constructed for you.

It's going to be your choice whether you want to settle into a new or used home. While you may have to make your decision based on your personal financial budget, in most cases it's just going to be a case of making your choice based on personal preference. There really is no right or wrong answer. You'll want to buy a home that you know will make you happy no matter what other people think and no matter who thinks you may be making the wrong decision. The right choice for you is all that really matters.

Author Bio

Joel Mayer is an Australian freelance writer and blogger. 
He writes about property and about companies like http://taylors.com.au/

If you are looking for new or a old home on the Costa Blanca then you need a reliable partner to find your dream home in the sun.