Michigan Real Estate

To spend the time together with your spouse is the most precious time people can get, so they should treasure it and choose the best way in spending the time together. Many people have their own way in spending that moment like stay at home together and do things like have romantic dinner at home or go to the most romantic place on earth, France.

Some people say that France is the most romantic place on earth and also the center of the fashion trends so it will be the perfect place for couple who want to have the greatest time of their life. For women they can spend their money in the latest trend of fashion and get the latest trend of chaussures femmes while men can spend the time sightseeing or relaxing in street side cafes. To find hôtel à Paris is so easy because you can find much information related to it in the internet. The hotels are quite good because many of them are designed with the classical France style with high class fauteuils déco.

If you already fallen in love with this country and will certainly come back, maybe you should buy your own house in France from immobilier Lorient so that you will not need to book hotel anymore. More over if you decided to stay in France forever because you cannot forget the beauty of the country.

Real estate is an excellent investment because it is always in demand and everyone has to have a roof over their heads.  Now real estate is a commodity just like anything else in our society in when the prices get to high just like the stock market it adjust down to where the majority if buyers believe that there is value.  So when real estate is high few buyers buy and when real estate is priced below the comparables, more people buy.  If you buy and you’re an owner occupant and you plan on staying in your home 5 or maybe 10 years, the market ups and downs don’t really concern you too much.  How ever if you are a speculator and buy near the top of the market and the values peak and turn down, you could be holding a commodity that is worth less than what you paid for it.  And that does not make a very good short-term investment.  So exit strategies when buying property are pretty important.  Now in our recent market many speculators and home owners have extended themselves by buying expensive properties with the expectation of continued appreciation in owner occupants with poor credit and no money down, used short termed A.R.M.S (adjustable rate mortgages) and went out on a limb and got involved in property they hoped would continue to appreciate, and so because of all the speculation we have the highest amount of foreclosures than ever before.  Many homeowners thought that they would be in and out of a property in a short period of time, and opted to use the A.R.M.S thinking that they would sell the property before the interest rate reset to a higher percentage.  How ever because property values turned down and property owners were not able to sell their properties, their A.R.M.S reset and left them with higher interest rates and higher payments that they could not meet.  Now home owners that have own property that have lost value are not so worried because the property is providing them with a roof over their heads.  So they just plan on staying put and in a couple of years the prices will come back.  Now the circumstances have left first time homebuyers and investors with an enormous opportunity to make some money with these foreclosures.  Now given that money and real estate investment is made when you buy the property.  It’s a great time to buy property at a discount with very low inertest rates; the only thing challenging us right now is the exit plans.  So now with the present inventory it is imperative that you purchase at a low price and that you sale at a price compared to properties that are for sale in your area.  Quick flips could take a little longer to sale and it is always best to price the property at a price that is less expensive than the other properties are going for in your particular area.

            Foreclosures have been around forever, only now there is just more of them.  It kind of seems to be the buzz on the street.  Seasoned and novice investors want to invest in foreclosures.  In 2004 the number of foreclosures was 2% of the total sales in the U.S.  In the first quarter of 2008 in Stockton California, 72% of it’s sales we in foreclosures.  In Las Vegas in the first quarter of 2008, 45% of the properties closed were foreclosures.  So you can see why there is so much interest in foreclosures.  Now the reason why they are so attractive is that if your going to be successful in real estate, you need to work with a motivated seller.  And there are not any more motivated sellers than there are going to loose their homes because they are not making the payments.  Now prior to this point foreclosures were typically as a result of divorce, unemployment, and medical bills.  In addition to these recurring reasons today.  There are also a result of the A.R.M.S loans being reset from low interest rates to higher and unaffordable for the homeowner and the property values dropping leaving no equity.

            Now foreclosures are divided into 3 phrases.  First phrase is the pre-foreclosure and that is when the home owner is still in control and if they have any equity then you can work directly with the home owner.  How ever if there were no equity you would want to do a short sale.  The second phase is the auction; this is usually reserved for the experienced investor because of the financing, the property inspection, and the attached liens.  The third phase is what we call the REO; it stands for real estate owned.  This is where the property has not been sold at the auction and the lender gets it back.  This is the safest way to buy a foreclosure because all the incumbencies have been removed and you can also inspect the property before you buy.  Now I am going to say this and it is very important.  Not all foreclosures are a good deal.  So it is important that you act like a real estate detective and get all the facts about the property before you buy.  This is a very important part of the process and the more you know about the deal the better it is going to be for you.  It really is all about the numbers.  Now that sounds simple but it really is not.  When I say it is all about the numbers I mean the number of properties to choose from, the amount of research that you do, the cost and expenses versus the potential profits, and the number of offers that you make.  So depending if you are in a deed state or a mortgage state the foreclosure process could take anywhere from 21 days to 120 days or longer.  If your in a state that gives you a shorter time to do your homework, you need to find the most efficient and fastest way to make a decision about each property that you are interested in.  So remember a foreclosure is an opportunity to find a good deal.  It is not always a good deal and in today’s market there are some homeowners that are being evicted from their homes and they are leaving their properties in a complete state of disrepair.  They are putting holes in the walls, taking out appliances, ect.  So if you are if you are looking at a property that you are not allowed to go inside and se the condition of the property.  You might be buying a property that would easily cost you more to fix up than it is worth.  So again be sure to so your due diligence on each and every peace of property.

            Well people say why invest in foreclosures?  Simply foreclosures are at all time high which presents an outstanding opportunity.  High instant profit margin for the well-trained investor.  You can buy at a steep discount in m any cases.  The future trends for finding deals are up because borrowers are defaulting on their loans, A.R.M.S are resetting to higher percentages, falling property values, balloon notes coming due, unstable money markets, and security markets causing financial loses and uncertain economy which leads to layoffs.  There is always a steady inventory of new property.  Foreclosures are not really understood well or worked very well.  Most people don’t even understand the process;  there is minimum good information available to the public. 

Some properties can be purchased for little of your own money.  As we said before the sellers are definitely motivated and banks don’t want properties so they want to get rid of them as quickly as possible. 

            Why are foreclosures growing?  Foreclosures area fact of life.  Anytime a debtor breaches an obligation of a security document, like a mortgage deed, trust or something like that.  The lender has the right to foreclose on the property.  The grantor most likely does not want to acquire the property but they do want repayment of the funds owed.  Now in today’s markets we are seeing lenders lowering interest rates.  Extending loan terms and there is even talk about forgiving of the mortgage amount.  Even so there are tons of foreclosures to work.  There is an orderly process to the foreclosure, which allows the opportunity to cure the situation.  However some homeowners are not in a position to cure the default.  This may happen because a number of reasons.  Loss of job by one or more home owners, financial crisis need for immediate cash, a health or maybe family problem, business failure or down turn, divorce between couples causing a need for property liquidation.  Death of the property owner resulting in payment default.  Adjustable rate mortgages can increase quickly in times of high interest rate and result in the property owner not being able to make payment.  Balloon payments, these are large payments that cause challenge for the homeowner.  Job transfer, borrower may have two mortgage payments, out of state owner or out of Towner.

            Lets talk a little bit about pre foreclosures.  Many times you can catch the situation before the property has gone on the auction block.  We call this time period pre foreclosure.  The property is in default and several months behind in payments.  The owner may have no means of curing the default yet the clock is ticking towards the time the auction will take place and everything will be lost.  Now given that a foreclosure on a persons credit record is the single most devastating item preventing any future borrowing for years to come.  A homeowner should be very eager and happy to work with you.  Without your help they might not just loose their home but their credit will be destroyed.  A fundamental key of making money in the foreclosure market is understanding why the property went into foreclosure.  Perhaps the owner just had a temporary cash shortage.  You may be able to help them and take an equity position in the property in return for rectifying the situation.  Or the owner maybe financially devastated and just wants to dump the property before their personnel credit is destroyed.  You can help solve their immediate problem and give them a new start.

            When we talk about finding foreclosures there are many sources to aid you in finding foreclosures.  Hopefully you can find the foreclosure before it is too far in the foreclosure process and all possibility of redemption has passed.  In today’s market there is more opportunity to find foreclosures than ever before.  Following are a few locations to begin the search and will be going into much more detail in other courses of this product.  They are classified sections, legal newspapers, attorneys, FSBO’s, realtors, auction companies, IRS auctions, bankruptcies, probate court, and county courthouses, town hall or registrar of deeds.

 

 

                                                Chase Correa

 

                                    www.moneyinforeclosureinvesting.com

We are known in Dubai as the Palm Island specialists, having dealt with these fantastic manmade islands since they were launched by Nakheel a few years ago. Therefore, if you’re looking to buy a nice little mansion by the sea with the height of luxury, then here’s some Dubai real estate that you should take notice of.

Palm Jumeirah’s and Palm Jebel Ali signature villas, garden homes, garden villas, water homes and shoreline apartments are the fastest moving properties on the local market here at the moment, with many fantastic investments for the high net worth individual.

They may not be what everyone wants, they probably aren’t what a lot of people can afford, but to all those investors that like the idea of living on an island in a really big house (I’m guessing most), then read on as we will give you a taster of what is out there.

The Palm Jumeirah, phase one of the Palm trilogy is located just off the beach after the Burj Al Arab (large hotel that looks like a sail) in the up market Jumeirah area and is already home to the residents of fully completed sections, these are called “fronds”. If you have seen the pictures of the fronds, you would probably think its just rows upon rows of bland houses stuck together to maximize the numbers, however, upon closer inspection it’s not really so as all the properties have a unique look or theme to them. Sure, there are quite a few houses but it is a really big tree shaped island and a one of a kind top notch address. Remember though that each of the signature villas comes with a private swimming pool and, best of all, private beach for all you sea lovers. Also keep in mind that the land area for each villa is much larger than the area for the house which is called “built up area”, meaning looks can be deceiving and you actually get more space than you would think. So if you have a plot of 13,000 square feet, and your house takes up 8,000 square feet, you still have a good 5,000 square feet of garden to play around with as you wish with features such as barbeque area, kids play ground and the like.

There is a huge gap between demand and supply of villas on the Dubai property market now, it’s no wonder that the signature villas on the palm have been so popular. They have the name ‘signature’ because owners can choose the fixtures and fittings of the house according to their tastes some of which we will list below to give you examples, and there are so many different exteriors to choose from too, your house is nothing like your next door neighbours’, which of course you would expect when you are paying top dollar like this. A variety of these different styles are available on our site, if you click here.

Dubai Real Estate investment is a difficult decision no matter how much experience you have in the market, no matter where you buy and the best way to get the right property is to find out as much information as you can beforehand with research. Since these signature villas are, for the most part, finished, why not go take a look and judge for yourself with a drive out to the Palm, which can be arranged by us on a VIP tour. Any good real estate broker should always advise you to explore all your options before buying, especially in the Dubai property market because it is so new, and we certainly do!

Sam Carroll specializes in homes and condos for sale in the central Austin. Sam has helped several families relocate to Austin as well as people that are just looking to get a little closer in. Sam is a native Texan and his longstanding familiarity with Austin means he understands its diverse neighborhoods. Sam is not only a native Texan, but has also lived in other Texas cities. This makes him well versed on the uniqueness that Austin has to offer. Whether you are interested in business, politics, education or just plain relaxation they are all here in Austin. Sam also has lived in Seattle. Two long-distance moves gave him first-hand experience in the logistical, emotional and financial issues involved in a major relocation. Sam’s 20 years of experience in real estate means quality service backed by confidence and loyalty. Sam is a principle of RE/MAX Downtown Austin, the first major real-estate agency in central Austin and has worked in downtown Austin real estate for more than 7 years selling lofts, condos, and houses. Because he has attended Texas schools, been involved in the local community groups, attends a local church and lives in the neighborhood – he has a long term commitment to the community. Austin Real Estate Broker Sam Carroll provides you Free Austin Relocation services. You can sign-up for Sam Carroll’s Exclusive VIP Buyer Program. Sam will enter your information into his inclusive real estate database and as new homes are listed that meet your criteria, you will receive a notification directly via email. If you haven’t yet, you may want to consider purchasing a home because home ownership is the single most reliable way to achieve financial security. Without it, you may find it almost impossible to gain access to the kind of capital you will need to support yourself in your later years, pay for your children’s education or start a new business. Buying real estate in Austin is one of the largest single investments you will make. You should know exactly what to inspect both indoors and out, in terms of needed and future repairs and maintenance and this is something that only an experienced Realtor can do for you. A complete inspection includes a visual examination of the building, condition of the structure, roof, foundation, drainage, heating system, central air-conditioning system, visual interior plumbing, and electrical systems, visual insulation, walls, windows, and doors. While buying an Austin home you should decide the kind of Mortgage loan. Austin Real Estate Broker, Sam Carroll provides you with various options and will guide you to a plan that makes sense to you.

The main goal of most Real Estate Investors (that I know) is to help people in need. And with today’s foreclosure epidemic, more and more investors are being contacted by owners who are facing foreclosure.
That being said, here are 10 options that people facing foreclosure might have to try and save their home. These foreclosure workouts assume an owner is going to work towards keeping and staying in their home. These options are best considered if a home has equity, if the hardship is temporary, and/or if financial recovery is in sight.
1. Full Reinstatement – Full reinstatement is the dollar amount (including payment, back taxes, insurance, penalties etc.) required to bring the mortgage loan current.
2. Forbearance – Mortgage forbearance agreements work hand in hand with other options. During a forbearance period monthly payments are temporarily reduced or put on hold for a limited and specific time period. (Even though payments due are on a postponed, the interest due continues to accrue.) Owners must work closely with their mortgage lender to arrange for this type of agreement. Depending on the situation forbearance agreements generally have a maximum time period of a 12 month delay.
3. Federal Housing Administration (FHA) Forbearance – If owners qualify and under very special circumstances (death of a contributor to the family income, severe disability, or natural disaster) an FHA insured loan forbearance period MAY be extended up to 24 months. This sometimes requires an upfront lump sum payment.
4. FHA Partial Claim – If owners qualify HUD also has Partial Claim assistance where HUD actually advances an interest free loan so owners can repay the past-due interest and escrow amounts. This will leave owners with another loan to pay, but it is interest free. This also immediately brings owner’s mortgage up to date.
5. Veteran’s Administration (VA) Loans – If owners have a VA backed loan mortgage lenders may be able to reduce their interest rate. They also may be able to take the past due mortgage amount, add it to the current principal mortgage balance, and recalculate or re-amortize the new loan. This could result in a lower monthly payment.
6. Assistance for Service Members on Active Duty – If payments are behind due to military service, homeowners should ask their mortgage lender about the Service Members Civil Relief Act (SCRA). SCRA allows active military members to suspend or postpone some civil financial obligations. The SCRA was designed to assist and protect important rights of active duty military members and reservists who are in active federal service. National Guard Members called to active state duty in response to a national emergency declared by the President of the United States are now recognized under the new statute as well.
7. Repayment Plan – Repayment plans immediately bring accounts up to date by re-distributing delinquent payments over a period of time (normally less than 12 months). The monthly amount is then added to the usual mortgage payment. A change to the interest rate or the term is made to allow owners to bring their loan current.
8. Loan Modification – Loan modification also brings accounts up to date immediately. But with a loan modification there is an actual change to the mortgage note itself by adding past due interest and past due escrow amounts to the unpaid principal balance and then re-amortizing (recalculating) it over the new term.
9. Full Payoff Refinance – Refinancing current loans would be paying it off with a new loan. The purpose of doing this would be to make monthly payments less expensive by extending the term and/or reducing the interest rate of the loan. This can be especially helpful in the cases where the original loan had an adjustable rate or an interest only mortgage where payments have increased as the interest rate has increased.
10. Reverse Mortgage Refinance – A reverse mortgage is a loan that allows homeowners who are at least 62 years old, to convert part of their home equity into tax-free* income – without having to sell their home, give up title to it, or make monthly mortgage payments. The loan only becomes due when the last borrower (s) permanently leaves the home. Refinancing would replace the current loan with a reverse mortgage loan. * Contact a tax accountant for full details.
While it is true that many Real Estate Investors are looking to profit from properties that have been foreclosed on by purchasing properties directly from lending institutions, it is also true that many investors will help owners try to save their home before it gets to that point.
Despite the news media who tend to give Real Estate Investors a really bad name, Real Estate Investors really do help people by buying their homes very quickly. Furthermore, in some situations Real Estate Investors help educate homeowners on some options that may actually help owners save their home from foreclosure.

When you are ready to buy or sell a home, it’s only natural to want a great real estate agent to help ensure you get the best deal possible. If you’re a buyer, you want an agent who can give you a number of options at a good price. If you’re a seller, you want an agent who can meet your selling needs, whether that is selling at a good price, selling fast or some combination of the two. Here are some tips for getting the most out of your real estate agent.

Hire a Realtor

Anyone can call himself a real estate agent, but only Realtors receive accreditation by the National Association of Realtors. This means they have more training in the general field, as well as specialized training and greater access to the tools of the trade. Find an accredited Realtor to handle your real estate needs.

Find Out About the Agent’s Level of Access

If you hire an accredited Realtor, he should have access to a Multiple Listing Service (MLS). This way, plenty of people have access to your listing. It is a key way of getting your home sold at the right price fast. Make sure to have your home listed on the MLS.

Be Clear About Your Needs

Your real estate agent will be best equipped to help if he knows exactly what you want. Don’t assume he knows how you want your real estate transaction handled. Keep an open line of communication with your agent. If he seems unable or unwilling to help you get your home bought or sold the way you want it, continue another agent.

Comparison Shop

You don’t have to list your home with the first agent you meet. Plenty of real estate agents can meet your needs. Make sure you are happy with your agent. Ask yourself if he is trustworthy, if he understands your needs, and if you are confident in his ability to get the job done. If you have any doubts, meet with another agent and reassess the situation.

Buying or selling a home can be a difficult decision and not one to take lightly. Take the time to find the right real estate agent and make full use of his skills so that you can make a real estate transaction that you will remain happy with in the years to come.

One of the oldest and best-known rules of economics is the law of supply and demand: that supply and demand are constantly seeking equilibrium, but when demand exceeds supply, prices rise and when supply outstrips demand, prices fall.

This law also applies, of course, to real estate and partly explains the cyclical nature of our industry. However, in the medium-term, the scales are almost always in favour of purchasers who buy with intelligent criteria, location being one of the key factors: urban land is usually in limited supply and even more so in the “best areas” within municipal boundaries. Cities grow, and those that are popular with higher income purchasers, who identify with a level of quality such as that offered by Marbella, grow even faster.

This is precisely why real estate investment, carefully made with respect to location, price, quality and timing, is and will continue to be among the most reliable and consistent sources of wealth creation. And at the same time, with respect to residential property, such investment can offer a life style that is highly attractive to the purchaser, thereby combining the best of two worlds.

Buyers, nevertheless, should always exercise caution. Newspaper articles may be misleading and should of course not constitute the sole basis for investment decisions.

For example, those who write “market information” articles equating what is happening in the real estate market on a national scale in Spain with that of residential tourism on the Spanish coasts, (particularly the Costa del Sol and Marbella), have ignored one critical, fundamental fact: that what is clearly a bubble and excess in construction nationally (the Spanish national newspaper El Mundo stated last year that up to 60% of the homes built nationally were sold to speculators) is not fully representative of the market on the coasts, which adheres to substantially different market criteria and sources of demand.

Multi-source demand

The critical factor differentiating the Marbella area market from the national market is that the former is comprised not only of national buyers but also, and especially, of international buyers. It is a multi-source market, fed from all European countries and from others even further afield. Thus, when one country’s demand for foreign property starts to drop (which might soon be the case for the British market), it will be replaced by another source of demand (which currently is represented by Eastern European countries and possibly Germany, which is finally beginning what has already been called its “second economic miracle”, after years of economic problems).  

Such multi-source demand creates deeper and longer-lasting market stability than would be found in any single-source market, anywhere.

Property speculators

Unlike property speculators on a national basis, most foreign as well as Spanish speculators for coastal investments stopped investing for all practical purposes when the off-plan purchases, inevitably and predictably, ground to a halt in the year 2004, when prices of land and construction reached unacceptable levels, preventing buyers from selling on their speculative purchases to an end-user or another speculator.

The consequent oversupply on the coast of new two and three-bedroom tourist apartments and townhouses under the €600.000 to €700.000 price range, especially in areas which are not consolidated or fully developed, has resulted in a price drop in real terms of maybe 20% to 30% for these types of property in the last three to four years. The same types of property in consolidated areas have seen a smaller drop in price, approximately between 15% and 20%. It is indeed a buyers’ market for this category of property in some parts of Marbella and surrounding areas and, one should note carefully, there are some real bargains now appearing at price levels that may not repeat themselves in future years. 

As a result of those off-plan investments cooling down in 2004, many of the original speculators have consequently moved their investments to other countries such as Bulgaria, Croatia, Morocco, Egypt, Brazil, Cabo Verde, Mexico, the Dominican Republic and others that are starting out as second-home destinations. They may well, however, be in for an unpleasant surprise when they find that the construction, in many cases, will far outstrip the supporting infrastructure and necessary services around it, and prices may often be inflated by unscrupulous “get-rich-quick” agents.  Those who choose this type of investment should be careful to use agents known for their integrity and long market experience.

Market consolidation

So, what does all the above mean? It means that the end-user is the dominant player in the market today. The pure speculator for lower-priced, off-plan properties has all but disappeared, leading to a market which is presently, in general terms, consolidating and maturing.

The “in-and-out” speculator buyer to a great extent distorts any property market, and the fact that the off-plan purchaser is influencing the market to a far lesser extent today than in the past is a very healthy indicator of a return to more normal conditions than those experienced from 1996 to 2004.

The speculator, however, hasn’t totally left the scene. Instead, he is more cautious and more demanding. The product he seeks has to fulfill key criteria which include: a well located development, good facilities and security, closeness to amenities, quality in design and specifications, etc. And the timing is important: he seeks to invest right at the start of construction, when he can get the best choice at the best price and, today, he might take a more medium-term view of the market rather than a short-term one.

In addition, the last three to four years have seen a general leveling of prices, an integral part of the consolidation process, and there is less volume of sales than in years past. A great part of this lesser volume is a result of less speculation, as indicated above. Another reason, particularly in Marbella, is that there is now much less zoned building land available for new construction due to the delay in the approval of the new General Plan, which has provided a strong cushion of support for the resale market. And, as the market returns to normal after the “boom” years, properties are taking a longer time to sell today than two or three years ago.

The real estate agencies that have made fortunes in years gone by through exhibitions abroad and “inspection flights”, selling new or off-plan properties especially in the lower price ranges, are having a much tougher time today, and some of the smaller and even larger agencies have closed, especially those without great experience in the resale sector of the market. This is a perfectly normal part of a market adjustment witnessed many times over the past four decades.

Higher priced properties still very much in demand

It is worth noting that properties between the €800,000/€1,000,000 to the multiple million range, which are located in the more consolidated areas closer to services, etc. have been maintaining their value extremely well. They are still in good demand by the classic, end-user client and continue increasing, albeit at normal levels, but sometimes even reaching record prices. 

The reason for the continued strength in the higher priced properties is that there are very wealthy buyers out there looking for quality homes in quality areas. According to the 2007 Merrill Lynch and Capgemini World Wealth Report, there are 9.5 million high net-worth individuals in the world, up from 7.2 million in early 2003, many of whom are only a short direct flight away from the Costa del Sol and who either already own or wish to acquire a second or third home here. Not only are the wealthy becoming more numerous, but the already-wealthy are also becoming increasingly more so, and there are only a limited number of outstanding, appropriately priced properties in the best areas.

With these clients, as well as the tens of thousands of others who are free of economic worries but do not consider themselves jet-set material (nor do many of them want to), Marbella is very much the place to be, with direct and easy flights from most major cities in Europe, a vastly improved infrastructure compared with years past which far surpasses that of other newer resort areas in the world, a 12-month season with activity of all types in the winter months, and the best climate in Europe, even though it is not as cheap as it was in times gone by.

Moreover, there are sales every single day of properties priced between €2,000,000 and €5,000,000 or more, a market which was virtually non-existent before 1996, as most of these luxurious properties have been built since then.  Properties on the beach side of the Golden Mile and in the most consolidated and best areas are very difficult to find, and when they come on the market, at intelligent asking prices, they sell very quickly. Once again, all this goes to show that the age-old rule of “Location, Location, Location” being the three most important words when purchasing property, still holds true.

Recent bad press, already a factor of the past

During the past three years, up until mid 2007, the national and international press have had an orgy of exaggeration and prediction of doom and gloom, deriding Marbella, its surrounding areas and its people due to the unfortunate events and disorder of the recent past, caused by urban planning issues and corruption. The corruption which has been brought to light in Marbella, thanks to “Operación Malaya”, is unique in its magnitude, stemming directly from the enormous demand for properties in this very special part of Spain and the consequent amount of new property development from which this corruption was born and fed.

Corruption linked with politics and city development is not unique to Marbella, but rampant in many Town Halls throughout Spain, as observed in countless articles in the national press: in Valencia province, for example, 31.3% of citizens recently ranked corruption as their most serious problem.  Part of this problem is the system for financing Town Halls, which derive between 40 and 60% of their income from different levels of urban development activities, a system devised by the political parties themselves, of course, and a system which must be modified on a national level as an essential first step to reducing and eliminating corruption throughout the country.

Unfortunately, corruption has not been the only issue affecting the image of Marbella.  In 1997, then Mayor Jesús Gil made an incredibly unwise decision in raising his political aspirations from a municipal to a regional level.  The immediate result was a decision by all of the political parties and their accompanying press of all categories, to destroy him and his party, and Marbella itself fell victim to these politics. Although consensus had already been reached in principle between Gil and the Regional Government with respect to the General Plan of 1998 before Gil’s political expansion, one of the first main steps taken by the Regional Government as part of its anti-Gil strategy was to reject this plan.  Had this not happened, the 1998 plan would be in effect today, and most of the building permit problems of the last few years, would have already been resolved.

Very unjust, politically motivated discrimination and maneuvering against Marbella, with the collaboration of the media, has therefore been one of the principle factors negatively affecting the city in the past decade, a fact which many of the resident and non-resident owners have not yet fully perceived in its real light.  Fortunately, there is every indication that this attitude has changed with the election of Ángeles Muñoz as new Mayoress of the City, and a new spirit of collaboration has commenced between the City Hall and the Regional Government.

Only 752 units cannot be legalized in accordance with the proposed General Plan for Marbella

Much of the press has clearly enjoyed publishing articles stating that there were over 30,000 illegal homes constructed in Marbella and that many of these would probably be demolished, spawning totally unnecessary public fear and insecurity. The real number is around 19,000. Almost all of the owners of these living units bought their properties with a valid building license issued by the maximum authority, the City Council, almost all are inscribed in the land registry which is the last word with respect to ownership, and many also have valid first occupancy permits.

The press conveniently ignored that third-party end-users who bought properties such as these in good faith, would always be protected by Spanish law, except in the most extreme cases where a solution could not be reached to legalize the property.

Coming as no surprise for many who understand the planning procedures, and the amazingly ill conceived politics promoting public fear and insecurity, it was announced (El Pais, 15/07/07) that the initially approved New General Plan for Marbella, only anticipates that 752 living units will not have the potential of becoming legalized. And of these, one can rest assured that for those which have already been occupied by end-users (377 in all) there is very little question that there will be some fair solution reached protecting those who have purchased in good faith, as already announced recently by our new Mayoress.

What happened to the 30,000 living units which were going to be bulldozed into oblivion? Well, solutions have been found to accommodate them and legalize their situation within the context of the New Municipal General Plan, so urgently required by Marbella, as everyone in the know had anticipated.

New political leadership resulting in the “Rebirth of Marbella”

The new Mayoress has campaigned with great energy for many years to lead Marbella out of its recent political and financial quagmire into a new era.  She has met with virtually everyone in the city. She has carefully and meticulously organized and prepared herself and her team, as no other candidate ever before her. She has surrounded herself by top-notch Town Council members of her party and advisors. She has proven herself to be qualified to do the job and easily convinced the people, resulting in sweeping the elections in May 2007, winning 16 of the 27 seats on the City Council.

Muñoz has pledged a policy of total transparency and of cordial relations with her political opponents, which for the moment has produced a very favourable reaction from all parties, and a return to a normal political situation. She has already started cleaning up the city and re-organizing the financial situation she inherited. She will make transparent efforts to safeguard our municipal patrimony and to recover that which was illegally taken away. She is taking many steps to counter-measure the negative public press Marbella has received in recent years. She has welcomed the opinions of both residents and non-residents alike, to help her to do a better and more effective job, and created the organisms to do so with the appointing of one of Marbella’s original founders, Count Rudi von Schönburg as the head of the Tourist Consortium of Marbella.

Marbella is quickly returning to normal, with exceptionally qualified and transparent leadership, which was the necessary prerequisite to do so. What can we predict for the near future?

 

There are of course alternative residential resort locations in the world, some of them mentioned at the beginning of this article.  However, the important questions one should reflect upon before purchasing property, especially to use part or full time, are as follows:  

·     Is there a 12-month season with a great winter and summer climate, with sporting and cultural activities of all types, nightlife, superb restaurants, or is it a resort, as most, which is highly seasonal in nature and “rolls up the side walks” from October to May? 

·     Do quality public and private services exist?

·     How about the infrastructure – roads, airports, sewage, rubbish collection, water supply, etc?

·     And how about the educational system? Are there international English, German and French schools close by? And are there prestigious universities in the country?

·        Are there quality hospitals and health care services available?

·        What about cleanliness?

·        Are you surrounded by poverty?

·        How about one’s physical security? Can one walk around during the day and at night feeling safe? 

·        Is there a “police state” where sometimes policemen are looking for “tips” or might make problems for you, or do the police respond to civil government norms which protect citizens and tourists alike?

·        Is there legal security, or can “rights” given today be taken away tomorrow by the next government in office?

·        Is there respect for human and civil rights? Is there discrimination against women, children and workers?

·        Is it easy and safe to drive to different destinations nearby as it is here with Gib, Sevilla, Puerto de Santa María, Ronda, Granada, Cordoba and the Andalusian white villages?

·        How many direct flights are there from the capitals and other major cities of Europe, and how long does it take to get there?

·        Is there any social life, public and private events, concerts, parties, glamour and excitement available, if you want it?

·        Are there over 30 easily accessed golf courses in the area?

·        Does it offer the protection of the European Union? 

Think about it. Marbella offers all the correct answers to the above questions, and much more. Think about the special and relaxed life style here! How many places in the world can match the Marbella of today with respect to the above criteria?

With the closing of the Gil era, and the arrival of Ángeles Muñoz, we are in the process of witnessing the “Rebirth of Marbella”, and exciting times lie ahead for the city and its people.  A sharp and clear improvement of its image, finances, infrastructure and public services is well underway. Marbella is now reaching out to realize its true potential, and to consolidate its place as the world class, quality resort destination of the 21st century.

By Christopher Clover

Copyright © 2007 Panorama Properties S.L.

All rights reserved.

 

 

 

In anything you do, having well-informed assistance can make the difference. When you consider all the variables of personality, business style, and abilities that go into the equation it may seem too hard to get the right Realtor to work with you and do the best job. This article presents a guide to the process. Here are some common mistakes that are all to easy to make, based on old assumptions and perceptions. Avoid these traps and you’ll have an easier time.Failing to Ask About The Realtor’s Qualifications and Experience
You have to be bold in asking ask questions concerning your potential agent’s experience in the business. Inquiries about how long they have been in the field, length of time with the firm and any type of realty specialties they may have in their resume are all good ones. An experienced Realtor might mention professional designations or awards they have received in the business, and these are worth noting.The Perception That Only Big Realty Companies Have the Best Agents
Some who are looking for a Realtor may think that the big realty companies will have all of the best real estate agents. Although they may have some excellent people on board, it is advisable to evaluate small real estate firms as well as larger ones when looking around for someone to represent you.Being Afraid to Ask What Compensation Your Realtor Will Receive
Prior to selecting a Realtor, it is important to ask about what they will receive for the work. Every Realtor representing a seller will charge a certain percentage of the ultimate sale price as their fee for selling the home. It is important to ensure that the percentage is competitive. The fee can also be too low; an offer to sell your home for low fee will likely leave you short when it comes to service. A buyer’s agent, incidentally, is paid from the proceeds of the sale, out of the commission amount set by the seller. For this reason, if you are a buyer, there is no extra cost for having an agent represent you.Choosing With Insufficient Information
Don’t just choose the first Realtor you meet. Following your first impression may be OK in some circumstances, but without an appropriate level of research that quick impression can wilt like a bloom. Some people are so anxious to buy or sell a home that they find someone’s name and immediately go with that individual without ever reviewing their other options. This is a common mistake which anyone looking for good representation in a real estate transaction should avoid.Ask Questions
The last mistake which anyone shopping for an agent should avoid is hesitating to ask the Realtors being interviewed a lot of questions. Sometimes people feel as if they are being too much trouble and do not want to ask too many questions regarding the fees, procedures, and other things about the potential relationship. Asking questions is the only way to really know if you’ve selected the one who will be best for you.

Real Estate Investors will come across many “rules” in their businesses. Many of these “rules” are not laws or regulations, though we are definitely faced with many of those as well. But the rules I am speaking to are more “rules of thumb” meaning a broad application of an easily learned or easily applied procedure. What follows are Five Easy to Follow Rules to Successful Real Estate Investing…
Five Easy Rules to Successful Real Estate Investing:
1. Do Your Job
2. Listen
3. Be Honest
4. It is the Deal Not the Outcome
5. Do Not Let Fear Rule Your Life
Being a Real Estate Investor takes a lot of effort. You have to find lots and lots of Motivated Sellers. You have to go look at lots of houses. And you have to make a lot of offers.
Most importantly you have to give your best effort all of the time or you will cheat yourself and anyone else involved.
It takes a good bit of effort just to come up with leads. It takes even more effort to go out and look at properties, make offers and then sell the property.
Point two involves listening and paying attention. It is important to listen to what the seller is saying, and not think about how much money you stand to make. If it is not a win-win transaction the deal will not work.
You have to ask questions to make sure you are on the same page with the other party. There have been many deals that fell through at the last minute because of a miscommunication. This is a big waste of time and money.
Point three is being truthful. You should never mislead anyone when trying to make a deal. A deal based on dishonesty will always come back to haunt you. Your reputation has to be worth more than a few extra dollars.
Real Estate Investors who are dishonest will eventually be out of business. It is that simple. No one will do business with a dishonest person, no matter what type of business it is.
That is the ethics message being pounded home again. I am happy to see that more and more people (and Real Estate Investment Association meetings) are taking the opportunity to discuss ethics in the Real Estate Investment business.
Point four is that every deal does not have to happen. If it does not work for all parties involved then it is not a good deal. Sometimes you just have to walk away if it is not right, regardless of the possible outcome.
If you are attached to the possible outcome you may overlook some very important factors. You may be thinking about the $30,000 you are going to make, but if you overlook something you could end up losing money.
Sometimes it is best, though not always easy, to pass on the marginal deals. Often times a great deal is just around the corner. Sometimes it is difficult, especially in the beginning, to not to get caught up in the excitement and begin looking forward to making all of that money. It is normally best to stick to your numbers and remove your emotion.
The fifth rule is to continually conquer your fears. All Real Estate Investors have fears that pop up at different times. The things that we fear are those things we are least familiar with. Do not let fear rule your life. Every successful person has had to overcome any number of fears.
Often times you can overcome your fear by taking action. Are you afraid to make calls because you might be rejected? Then make 50 additional calls until you are comfortable. Are you afraid to make an offer, because you think it will be flatly rejected? Then make 100 offers until the fear is gone.
As you can see the above five easy rules to successful Real Estate Investing can be easily applied whether you are an expert Real Estate Investor or just starting out.

A good realestate agent will help you find your dream property. Remember when you make your first appointment with a real estate agent their goal is to learn as much as possible about you. Your goal should be to learn as much as possible about them.

A realestate agent will most likely have tools available to show you the most current listings. It might be a special software. It might be a tool that quickly calculates your possible payment rates with accompanying easy to understand clarifications of all the portions of your payment.

The important common thread to all these tools is that they are all designed to sell. Sales is essentially the same for real estate as it is for cars, diamond rings, or furniture etc. If you listen closely you will detect the common thread of “looking for a yes”.

Basically most realtors are bright, well trained, capable individuals. They come equipped with all the tools their real estate broker can provide them. So what is the skill set that a realtor should possess that would set them apart from all the rest?

That skill set is almost certainly well developed listening skills. If you find your real estate agent talking more than you maybe that person doesn’t have listening skills. How do you know for sure your real estate agent is a good listener and why is that so important?

The quickest way to determine your realtor’s listening skills is with a test. Sometimes if you are looking for listening skills you will know right away that a particular person does not listen well. Anyway the test is to carefully identify a few specific items you find important in a home. Those might be a large master, quiet neighborhoods, a south facing view etc. It doesn’t have to be a long list because just like the salesperson may be sorting customers, you should be sorting realtors.

Give a list to a prospective realtor. Have them email you 4-5 homes that may fit your needs. If your prospective realtor has good listening skills the homes presented will meet your list of features. If some of the homes do not closely fit than your prospective realtor is more of a salesperson than a listener. This person strives to convince you that a house will work for you. This real estate agent is normally very smooth at this. That is why it is important for you to understand you need a real estate agent with good listening skills or you will be convinced by that person what to buy rather than buying what you started out to buy.

This may seem obvious but in reality by not shopping for a real estate agent with this all important skill in mind, often times the sales oriented real estate agent exercises too strong of influences on what one actually ends up buying.