December 26th, 2008 Sydney
Almost 1/3rd (actually 31%) of possible first-time Home Buyers expected having financial help from their families when they come to Buy Houses for the 1st time. That’s commensurate with research commissioned by the Council of Mortgage Lenders. Nonetheless even more than a third (actually 35%) say that they wouldn’t be in a position to Buy Homes at all with no some sort of budgetary help.
In the midst of all of those who are existing home-owners, 23% indicate that they obtained financial help from their relations. Nonetheless interestingly, the figure for younger and more recent Home Buyers is much larger. Of those aged under 30, 39% of them had accepted financial help in getting their foot on the housing ladder. That figure increases slightly, to a little over 40% of those who have entered the market since 2004.
The analysis supplies clear evidence that financial support from their families for 1st time Home Buyers is more widespread in London than elsewhere. 32% of all recent London Home Buyers advised that their families had helped them. Home-owners in Scotland were the least likely to have obtained handouts from their families, with only 16% having received such help.
A number of fascinating findings can be deduced from the investigations:
There has always been some extent of financial help from family, but it has become much more common in recent years and especially amongst the younger households and families.
Parental assistance tends to exercise a noteworthy influence on when families first Buy Homes. Three quarters of those under 25 (76%) say that they would not have been able to purchase houses without monetary donations from their families.
Of those who are not currently home-owners, 38% expect to be Home Buyers within five years, with higher figures in the younger age groups. 57% of under 30s expected to Buy Houses within five years, and these younger respondents were also much more likely than others to predict monetary help from their parents.
Young people are without a doubt still greatly under estimating the problems involved when they first Buy Houses. Fifty eight percent of the 18-24 age group would need to Buy Homes within 5 years in order to meet their group aspirations. This would be a much greater rate of home-ownership than the next age group up, (twenty-five to twenty-nine year olds) have achieved.
Before the present financial crisis, only 43% of this age group had become Home Buyers, and that figure can be expected to drop very dramatically during the present financial crisis, because these are the most likely Home Buyers to see their Home Equity turn negative.
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December 25th, 2008 traffic
When you?ve decided to move to the Berkeley area, you need to decide whether you?re going to rent an apartment or house, or if you want to buy Berkeley real estate. There are so many great neighborhoods in Berkeley that no matter whether you buy or rent, you?re sure to love living in the gateway to the West. There are many elements of Berkeley real estate and home services that you need to consider when moving to the city. Beyond real estate, you?ll need to find information on relevant topics like:
-Pet Services
-Child Care
-Contractors
-Movers
-Interior Design
-Garden Information
-Dry Cleaners & Laundry Service
-Apartment Living
Especially when renting, you need to ensure that you are able to get a home or apartment that accepts pets, as well as finding out about dry cleaners and laundry services, because most rentals and apartments don?t offer in-home laundry facilities. If you?re purchasing a home, you?ll need to consider hiring moving services, which you can find plenty of in the Berkeley area, as well as contractors and interior design specialists in the event that there are any renovations or updates that need done to the home you?re buying. Berkeley real estate is mostly older construction, unless you move into a suburban development, and not every home was kept up the way it should have been.
While it may be charming, Berkeley real estate may also need minor repairs before you can fully enjoy your home. However, you need to make sure that you find the proper licensed contractors in Berkeley to help you with your renovating needs. That?s not a problem. You can search the Berkeley directory for all kinds of construction companies, contractors, and designers to help with all of your home projects once you purchase Berkeley real estate.
No matter whether you decide to buy a home in a historic neighborhood, or to rent an apartment on the riverfront, there are endless options for your Berkeley home buying and real estate needs. Plus, the city offers more than 500 real estate companies and realtors, so you?ll have no shortage of help in finding the perfect home for you and your family in Berkeley. And if you?ve already purchased a home and need services, you can find all kinds of options for child care, pet services, dry cleaning, and all those other daily tasks you need assistance with.
So whether you are in need of a long term family residence that will serve your needs for years to come or just a short term housing solution you can find the help you need through the many Berkeley real estate professionals in the area.
Read more about Berkeley real estate and directory listing information.
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December 25th, 2008 traffic
Some myths about bank owned property…
Myth #1: Banks will accept offers for “Pennies on the dollar.”
Fact: If you’re planning on buying a Bank Owned REO Home, it’s important to know that before a bank puts a home on the market, they’ve had at least two professional real estate agents give them a detailed analysis of the home and its value and had an appraisal completed. The bank knows the homes condition and what it will sell for.
Nationwide, the average Bank Owned REO Home sells for 15% or more under its current market value. Keep in mind that is not 15% below its list price. Also, with the demand surging for Bank Owned Homes the banks are receiving multiple offers, thus many homes are selling above the list price.
Myth #2: All Bank Owned REO Homes are “Trashed.”
Fact: While many Bank Owned REO homes need a little TLC (sometimes a lot of TLC), many are in good condition. Make sure you take the condition of the home in account when you’re making an offer. No matter how bad you think the market is, Bank Owned Homes in Good condition sell for higher prices and usually very quickly. Don’t be surprised if you get into a multiple offer situation.
Myth #3: All Bank Owned REO Homes are a Bargain.
Fact: You have to be careful when your buying a Bank Owned Home. Sure, banks are motivated to get rid of a home as fast as possible, but they also want as much money as they can get for it. You need to make sure that you have :1) An agent who can give you solid comparables and a detailed analysis of each home’s value and 2) A Realtor who can give you complete, accurate bids on repair work.
Myth #4: “My friend’s uncle bought a Bank Owned Home and sold it the next day for an $80,000 profit.”
Fact: No he didn’t. Whether it’s your friend’s uncle or a guy you talk to at the gym who “knew a guy,” it didn’t happen. Can you make money buying and selling Bank Owned Homes? Absolutely! But it requires hard work, wise decision making and strong advice from a professional Realtor. There are a lot of good deals out there, but don’t try and do it alone.
Remember Bank Owned REO Homes can be a great investment. Just remember as you begin your home search that Bank Owned Homes have their own unique set of problems and you better make sure you have an experienced Real Estate Professional behind you.
ThePremiumProperties.com is quickly becoming the leading choice of the most discerning buyers and sellers of luxury property in the most prestigious, impressive, and sought after locations throughout the Greater Orlando area.ThePremiumProperties.com focuses primarily on luxury estates, but we don’t hesitate to work with new home buyers as well. We understand that unparalleled luxury homes and estates demand the next level of service that goes beyond the average service that agents provide. We specialize in a variety of distinctive properties some of which are in the exclusive neighborhoods of neighborhoods of Dr. Phillips, Windermere, Hunter’s Creek, Downtown Orlando, and Lake Nona. Feel free to utilize the communities section to learn more about Greater Orlando’s many different neighborhoods.
Browse ThePremiumProperties section and view the jaw dropping views these special estates provide. You can choose to search and explore the MLS (Multiple Listing Service) for your next dream home, while exploring different financing options. Discover how we can help you be abundantly successful whether buying or selling a property. We also have access to bank owned properties offered at significant discounts.
Buying a new home should be an exhilarating and fun experience! We are a team of premier agents and exceptional mortgage brokers dedicated to educate and share knowledge about the selling or buying process to make you feel comfortable and confident about your investment.
If you are not able to find exactly what you are looking for, then let ThePremiumProperties.com team locate it for you and be your guide. With the backing of Century 21, the world’s largest residential real estate organization the sky is not the limit because our footprints are on the moon!
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December 25th, 2008 Sydney
Latest statistics released by a primary player in the House Sales UK market show that the drop in House prices slowed fairly considerably in October. The rate of fall was 0.4%, as compared to 1.3% for the month of September.
The statistics were produced by the Nationwide Building Society, which is one of the primary players in the House Sales UK market. The Nationwide is one of the very few of the old mutual Building Societies to have managed to maintain its mutual society status. Indeed it’s the ONLY big one to survive the rush for demutualization a decade or so ago. Since then it has followed a very conservative path through the more recent rush for buying into the derivatives and U.S. Sub Prime Mortgage markets. The society resolutely stuck to its core values, and stuck to the old fashioned, and at the time very unfashionable business model, of raising cash by taking deposits from its cash rich customers, and using those funds to lend to its own younger customers who need funding to Buy Houses.
As a result of this very conservative policy, the Building Society’s management now finds itself totally vindicated for not following the herd instinct of the other big financial institutions. It finds itself in an almost embarrassingly popular position with savers, because they in turn recognise the fact that the society’s cautious policies have been vindicated, and they’re therefore very much attracted by society’s continued mutual status, which makes it very well insulated against the vagaries of the world’s stock markets. All the above makes the Nationwide a player to watch, listen to & respect, as it becomes an even more dominant player in the House Sales UK market.
This slowdown in the rate of drop in House prices can only help to bring more Home Buyers back into the market, and so the rate of drop could be slowed even further over the coming months. Remember that House Buyers aren’t just people looking to Buy Houses to live in. There’s a large and growing number of people and companies who see Properties as a secure home for their excess cash. These people and companies have begun to think this way after seeing several famous banks fall. They’ve realised that hefty deposits owned by private individuals, and all cash owned by limited companies are not safeguarded against Bank failures. Properties, on the other hand, can’t disappear, even if they can lose a chunk of their value over the short to medium terms.
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December 24th, 2008 Sydney
It’s completely understandable to have feelings of despair if you are facing the prospect of foreclosure on your home. If it’s any consolation, you are not the only person in this situation. For many people, avoiding foreclosure is their top priority. Unfortunately none of this will do anything to help you and you need to act in a calm and rational manner.
It can be very hard to accept the reality of impending foreclosure when it is through no fault of your own. While this is probably true, it won’t help you to avoid foreclosure and you need to take positive steps to try and save your home. Hang in there and fight for your home as long as you can as there may be more assistance available to assist homeowners in the future.
Things You Can Do To Avoid Foreclosure
Making an application for a foreclosure loan is probably the first option you should be considering when avoiding foreclosure. By applying for this type of loan you get another chance of avoiding foreclosure as it stops the process from going forward.
Be prepared for the financial institution processing your loan application to look at the state of your finances and previous credit history before they will make a decision to grant you an emergency loan. Put all your effort into securing this loan so that you can repay the bank and stop the foreclosure.
Approach as many finance companies as possible in case the first one or two turn down your application. Don’t get disheartened or give up too soon.
Approaching Family and Friends
Don’t be embarrassed about approaching some of your friends or relatives to ask them if they are able to give you a personal loan. If nothing else, asking for help in times of need will show you who your true friends are.
The amount of loan you need might well be more than any of your relatives or friends could afford to loan you. You could also try asking for smaller amounts and this may make it easier for them to assist you. It always helps to share your problems as someone might come up with a solution that you would never think of.
This is not a time to let pride get in your way. If avoiding foreclosure means begging for help then so be it, go ahead and do it.
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December 23rd, 2008 traffic
We appreciate you taking the time to visit our website. With a combined real estate experience that spans over two decades, as well as a very high level of professionalism and knowledge ThePremiumProperties.com is quickly becoming the leading choice of the most discerning buyers and sellers of luxury property in the most prestigious, impressive, and sought after locations throughout the Greater Orlando area.ThePremiumProperties.com focuses primarily on luxury estates, but we don’t hesitate to work with new home buyers as well.
We understand that unparalleled luxury homes and estates demand the next level of service that goes beyond the average service that agents provide. We specialize in a variety of distinctive properties some of which are in the exclusive neighborhoods of neighborhoods of Dr. Phillips, Windermere, Hunter’s Creek, Downtown Orlando, and Lake Nona. Feel free to utilize the communities section to learn more about Greater Orlando’s many different neighborhoods.
Browse ThePremiumProperties section and view the jaw dropping views these special estates provide. You can choose to search and explore the MLS (Multiple Listing Service) for your next dream home, while exploring different financing options. Discover how we can help you be abundantly successful whether buying or selling a property. We also have access to bank owned properties offered at significant discounts.
Buying a new home should be an exhilarating and fun experience! We are a team of premier agents and exceptional mortgage brokers dedicated to educate and share knowledge about the selling or buying process to make you feel comfortable and confident about your investment.
Members of the Orlando Regional Realtor Association sold nearly 5 percent more homes in November than they did a year ago, as prices continued to drop to levels not seen since 2004, which has made more homes more affordable, the trade group reported Wednesday.
The number of pending sales also continued its five-month upward trend, rising to 3,326. That’s 84 percent more homes under contract than in November 2007, when 1,806 sales were under contract but not yet closed, the region’s largest Realtor association said.
November’s median sales price of $167,025 for all the homes, condos and town homes sold in the core Orlando market was down nearly 29 percent from last year’s November median of $234,900, and off about 5 percent from this year’s October median. The local median price — the dollar amount at which half the properties sold for less and half sold for more — is now lower than at any time since April 2004, when it stood at $163,000.
The Realtor association said continuing declines in the median price, combined with historically low mortgage-interest rates — which averaged 6 percent in November — have boosted affordability for all home buyers, including first-time shoppers, producing the best conditions for them since March 2004.
If you are not able to find exactly what you are looking for, then let ThePremiumProperties.com team locate it for you and be your guide. With the backing of Century 21, the world’s largest residential real estate organization the sky is not the limit because our footprints are on the moon!
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December 23rd, 2008 Sydney
As 2008 ends a review is in order. Most international property markets across the world have seen falling prices and less demand.
International Property Markets
However, it is not all downbeat. Sellers of international property have seen excellent profits due to currency fluctuations. For example, the pound sterling has fallen significantly against the dollar and Euro. For more information on overseas property.
Property sold in Euro land or the USA has seen 20 to 30% profits this year alone when the sale proceeds have been exchanged for pound sterling.
In early 2009, property markets will continue to fall but the seeds of recovery may start sprouting up in the latter half of 2009. The low interest rates and the stimulus to economies should start to revive the international markets. Even in the UK where property prices have dropped dramatically, the pent-up demand could see prices escalate dramatically. New builds are down and first-time buyers will consider buying when mortgage loans become more freely available. New builds will be in demand and property at the lower end of the market will be the first to profit. Once first-time buyers return, those wanting to trade-up will return too.
Interest rates will be low, with talk of a base rate near 0%, mortgage repayments will be much lower than monthly rentals. The buy to let market will become attractive with anticipated lower mortgage deals and good rental yields. On the downside, higher deposits may stall the first-time buyer market. However, once financial stability returns and competition returns to the mortgage market, lower deposits will become the norm again – perhaps not zero deposits though! Of course, unemployment is a problem and re-possessions may increase in 2009 too.
Time to Invest
Timing, as ever, is critical! When to return to the market? Unfortunately, our crystal ball is very misty but mid 2009 could be the time to invest. In particular, the re-possession market and auctions will be very attractive. Substantial reductions below cost price can be snapped up. With up to 50% off “new builds” sold within the last year. Surely, rental income will exceed the mortgage re-payments? With very low interest rates investors will want to see better returns so will be tempted once more into the property market. For more detailed information on property investments.
Where to invest?
After recessions, there always seems to be a demand in capital cities. As the recovery kicks in, expect prices to increase. With the pound at a historic low (and may fall further), house prices in the UK are now favourably priced for foreign investment. London house prices have dropped and with the big shake out in the city financial area, re-possessions of attractive property could be coming to the market. Paris, Madrid, and Lisbon look attractive too – we also think the Cote d’Azur, France will attract buyers. Further afield, Florida will once again be the centre of attention as the US economy improves.
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December 22nd, 2008 traffic
A short sale occurs when a home owner is in foreclosure but before the property goes to public auction. Under a short sale, a lender must agree to accept less than the amount that is owed on the property. Unlike a foreclosure, investors typically buy the home for even less because investors are not paying off the existing loan nor making up the back payments. Investors are striking a deal with the existing lender to take less than what the lender has coming to avoid dealing with a foreclosure.
It’s a myth that lenders are not going to make a deal with an investor unless the seller has fallen behind on the seller’s obligation to make timely mortgage payments. Sellers don’t need to be in default for a short sale to occur. For a buyer who wants to occupy the home, buying a short sale makes financial sense.
A home in foreclosure is when a notice of default has been filed in the public records. It means the owner has stopped making mortgage payments and the lender has given notice that unless the payments are brought up to date, it will sell the property to the highest bidder.
Lenders can foreclose for other reasons, but the most common reason lenders file a notice of default is when a borrower is at least two payments in arrears. If the home owner does not bring the loan current, the lender will take the property away from the owner. The final step the lender takes after a certain period has passed is to try to auction the property at a public sale. Not all homes that fall into foreclosure go to public sale because owners have the right to make up back payments up to a point, the time which varies from state to state. Real estate investors and home buyers see profit in buying foreclosures because they can often buy the property for the amount owed, picking up the home owner’s equity for free.
What are REOs – Real Estate Owned?
Buying an REO is similar to buying a short sale except the property is already owned by the lender. The property was acquired by the lender through a foreclosure action. Often lenders will sell repossessed homes for less than the past loan balance. Bank-owned properties are called REOs, meaning real estate owned by the lender.
Banks end up owning the property when nobody at the public auction bid enough to cover the amount owed against the property. REO homes are often considered the best way to buy a distressed property because the seller is already out of the picture. It’s just the investor, the investor’s agent, the bank and the bank’s agent who are negotiating the transaction. Some REOs can be purchased directly from the lender.
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December 22nd, 2008 Sydney
Let Mother Nature bring the freshness of the outdoors in, with custom retractable screen door from Stoett.com. Styled with all the modern conveniences afforded by those with an eye for quality and a appreciation for luxury, retractable screen doors extend the use of any architectural entryway in your home. They add a wonderful finishing touch to garages, workshop entryways, and especially sunrooms and all-season spaces.
Operated with the silent simplicity and convenience of remote control, retractable screen doors allow you and your family to fully enjoy the benefits of a clean, fresh air environment indoors, and best of all, without suffering any of the pesky nuisances of insects, dust and dirt coming inside. Retractable screen doors go far beyond mere convenience, good looks, and ease of use. They also keep you and your valuables safer.
Many today are educated about, and rightly concerned with protecting themselves from possibly skin-damaging effects of harmful ultraviolet rays. When it’s beautiful outside, why should you have to keep all your doors and windows shut to keep the sun from fading your interior fabrics, window coverings and artwork? Whenever you open a door or window, you can easily retract a beautiful retractable window screen and comfortably appreciate the endless beauty of nature surrounding your home. You can be completely free of the risk and worries associated with ozone layer depletion and damaging AVA and UVB rays. Retractable screen doors are an elegantly affordable investment in your home and lifestyle that you’ll appreciate for as long as you own your home.
Today’s luxury homeowner is looking for good form, high functionality, and common-sense solutions. It’s a wonder why everyone hasn’t already outfitted their high-end home’s architectural openings with this smart, modern choice. At Stoett.com, we offer our clients a full range of customizable, installed retractable screen solutions for every interior or exterior entryway challenge you can think up. When you’re not using your garage door screen, by a flip of your remote control, you simply roll it away so it hides smoothly and quietly inside its own attractive, custom-colored casing. Perfectly ingenious!
The excellent quality of our retractable screen doors is found in every little detail. We take pride in creating a smooth system that addresses your every need. Our screens are constructed of heavy-duty UV-coated and bug-resistant material that is stiffened for long-lasting use, and the ergonomic screen pull-bar handles, for manual use, make it very easy to operate whenever you wish to use the manual option instead of opening and closing it by remote control. The Stoett.com screen door that’s waiting for you is available with screen trim in stainable, real wood veneer that matches up beautifully with your existing interior or exterior door frame woodwork. Trim also comes in your choice of a selection of colors in a powder-coated finish.
You are invited to browse through our web site to get a picture in mind, and then simply contact us by phone or online to arrange for a convenient in-home consultation. At this appointment, we’ll take accurate measurements of all the entryways for which you wish to have retractable screen doors installed. We will answer all your questions and get you started towards increasing the value and comfort of your home. Your home is your most important investment, and it deserves the best. Ask for StowAway retractable screen doors, and you’ll smoothly glide your family’s way towards greener, more luxurious living.
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December 21st, 2008 Sydney
About 40 per cent of the UK’s energy consumption arises from the way in which our 25 million buildings are lit, heated and used. Even comparatively minor changes in energy performance and the way we use each building will have a significant effect in reducing energy consumption and therefore carbon emissions.
Considering the things we do every day, a large percentage of this leads to half of the UK’s carbon dioxide emissions . Leaving the lights on unnecessarily, or boiling the kettle with more water than is actually required, all waste energy. We are already seeing the effects of climate change here in the UK. Winters are becoming milder, rainfall patterns are shifting, making drought and floods more common.
After two and a half years of intense negotiations, the Kyoto Protocol was adopted at the third conference of the Parties to the UNFCCC (COP3) in Kyoto, Japan on 11th December 1997. Following ratification by Russia, the Protocol entered into force on 16th February 2005. The protocol requires developed countries to reduce their green house gases (GHG) emissions below levels specified for each of them in the Treaty. Under the Kyoto Protocol, by 2008-2012 the UK must reduce its baseline emissions of the six major greenhouse gases by 12.5 per cent, from a baseline target set in 1990. The UK Government has also set a target to reduce carbon dioxide emissions to 20 per cent beneath that baseline. In the long term, a reduction in emissions to 60% is expected by the year 2050..
Following an EU directive, all domestic properties being sold or rented out, will shortly need to have an Energy Performance Certificate (EPC). In response to this, Communities and Local Government has introduced a number of energy and cost-saving measures to make all buildings more efficient. These measures are being applied across all European Union countries and are in accordance with the European Directive for the Energy Performance of Buildings.
The energy efficiency and fuel costs will now become an element in the design and decision process of all new projects, and an important component to future property purchases. By 1st October 2008, all buildings in the UK that are constructed, sold or rented will require an EPC
The EPC is part of these new measures to improve the efficiency of buildings, resulting in lower energy bills for the occupier. An EPC provides the owner with a rating for the building, showing its energy efficiency and environmental impact on a scale from A-G (where A is the most efficient and G the least efficient). Two ratings are given:-
The environmental impact rating is a measure of a building’s impact on the environment in terms of carbon dioxide emission-the higher the rating, the less impact it has on the environment.
The energy efficiency rating is a measure of a building’s overall efficiency. The higher the rating, the more energy efficient the building is, and the lower the fuel bills are likely to be.
The ratings will vary according to the age, location, size and condition of the building. The potential rating on the certificate will take these factors into account.
Housing Minister, Yvette Cooper on its launch in 2006, said,
“Given the growing challenge from climate change and rising energy costs, I think people should be entitled to this kind of information about the home they buy. You can get this kind of consumer information on fridges and washing machines, so why not on a home where emissions-and the savings-are so much greater?”
Therefore the introduction of EPC represents a positive step forward. Encouraging FIRST TIME BUYERS , HOME OWNERS and Users, to be given-user friendly information they need to reduce the environmental impact of their homes and energy bills. By providing knowledge and increasing awareness through long-term incentives, the EPC will contribute greatly to a reduction in UK carbon emissions.
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