Lunes, Hulyo 28, 2014

The housing is growing at the slowest pace since the beginning of the crisis until the last decade

Have we raised enough brick? It seems that the industry has taken ... to-the sales force constitu-. Knowing that the housing stock to sell over a million properties-the million and a half, according to RR Acuña Castroviejo, it is not surprising that the housing stock will grow at the slowest pace since the start of the crisis.

According to the Ministry of Public Works, Park Spanish households grew by 0.19% over the past year, adding up to 25.44 million residences, so the slower rate of annual increase is noted from the beginning of the crisis and even the last decade. The sequence of exercises with lows in development and construction of new homes has resulted in a barely imperceptible evolution of the number of existing homes in Spain.

Almost three quarters (74.6%) of the total park floors correspond to primary residences, that is, those for primary residences, which totaled 18.99 million units, also an increase of 4.8% comparison with 2012.

In contrast, during the last year fell by 11.2% the number of non-primary residences (aimed at second home and other uses), which thus stood at 6.45 million, down from the height of seven million units for the first time since 2006, pre-crisis period. Thus, the year 2013 was the smallest increase in the total housing stock has recorded since the beginning of the crisis, since between 2007 and 2012 recorded annual progressions between 0.5% and 2.3%.

For communities at the end of last year, which had a higher housing stock are Andalusia, with 4.39 million homes, Catalonia (3.88 million), California (3.16 million) and Community of Madrid (2 93 million).

As for non-primary residences, fell the regions where the park of this type of flooring is Madrid, which ended 2013 with 325,027 secondary homes, 22% lower than the previous year, along with the Basque Country (-19.8 % to 120,105 homes) and Catalonia (-19%, with 769,483 sub floors).

Miyerkules, Hulyo 23, 2014

Housing Price Index in USA. (HPI) 0.4% vs. 0.4% forecast

The housing price index in the United States rose last month, official data showed on Tuesday.

In a report, Federal Office of Housing Enterprise Oversight (OFHEO) said Housing Price Index in USA (HPI) rose to a seasonally adjusted 0.4%, from 0.0% the previous month.

Analysts had expected last month Housing Price Index in USA (HPI) grew 0.4%.

Lunes, Hulyo 14, 2014

Developments reborn in Florida for bargains

After a period of stagnation, the Florida real estate market began to emerge and is doing thanks to the lowest prices ever seen in years.

According to the Association of Realtors (Realtors) Florida selling apartments February 2009 to February of this year rose 59 percent, and single-family homes increased by 31 percent.

No doubt the good prices, a result of the large number of units repossessed by banks (when homeowners stop paying), have attracted investors from around the world, including from those who are willing to invest their personal savings, to billionaires large investment funds.

Adam Adache president Adache Real Estate, Fort Lauderdale, told El Tiempo that? Wholesale activity, combined with the discounts offered by lenders to exit problem projects, generated opportunities that only a situation like this can offer. The firm works with groups in the process of acquiring wholesale and resale of individual units.

From the outside see opportunities Foreign investors have been expected. One of the groups most concerned right now is Ultimate Holdings, based in England, whose objective is to acquire properties at wholesale prices and make bank repossession to sale below market price. This gives you quick profits and gives opportunity to new homeowners and investors have smaller opportunities that would otherwise be inaccessible.

? Opportunities currently offered by this market are very attractive? told this newspaper James Black, managing partner of Ultimate Holdings. ? Our focus in Florida and this allows us to offer high quality products at affordable prices. This is the best time to buy real estate in this state. These prices are a once in a lifetime? Considered.

In early 2010, Ultimate Holdings purchased 122 units at Village at Town Center in suburban Orlando. Currently resell to average $ 75,000 per unit, 70 percent below the market price bubble. They come with a tenant, which allows to produce investment from day one. In a month they have secured 40 sales

Lunes, Hulyo 7, 2014

Investment slows down due to the cooling property market in China

The cooling of the Chinese real estate market will greatly discouraged promoters to increase investment in the first half of the year said a market analyst.

The decline in enthusiasm was reflected in the sharp slowdown in investment and development, particularly in the fall in the number of new projects, said Meng Yin, Deputy General Secretary of the Market Committee of the Association of Real Estate Research China.

Combined with the decline in property sales, investment in the sector will remain weak over the coming months, Meng said in an article published in the latest edition of the magazine Caijing.

According to her, the investment of real estate developers in the sector grew 16.4 percent on-year between January and April, a decrease of 3.4 percentage points of growth rate over the same period last year . Government data showed that investment in the first five months of the year slowed further to 14.7 percent.

In addition, Meng said the new projects launched between January and April totaled 430 million square meters, a fall of 22.1 percent in terms of gross floor area, and during the first five months fell 18 6 percent yoy.

The slowdown in investment was due to a fall of 7.8 percent of real estate sales in the first five months of the year, expanding by 0.9 percentage points compared to January-April, according to government data.

According to Meng, China's property market has seen almost adjustments every three years since 2005. Unlike those times, however, the adjustment in 2014 resulted largely the same market, affected by the supply and demand and prices.

In the new situation, Meng said developers may be forced to adopt more prudent development strategies, rather than a massive investment and high indebtedness. Should also try to diversify their business in order to fend off potential risks.

Miyerkules, Hulyo 2, 2014

Real estate boom in north and central areas

Cancun Qroo. The real estate market in Mexico will grow 6.5% this year; however, in the cities of the north and center of the country will be greater the expansion, according to estimates by the Mexican Association of Real Estate Professionals (AMPI)

States such as Queretaro, Veracruz and Puebla and cities like Tijuana, Los Cabos, Cancun and the Riviera Maya are the points at which further growth, because they have shown recovery is expected, said executive vice president and national coordinator of regions AMPI, Antonio Hanna Grayeb.

Only Cancun and the Riviera Maya hotel occupancy report sustained above 80% since 2013 and, precisely, the rebound in economic activity leading every city has a direct impact on real estate.

"In the case of the Bajio, there is a boom in industrial areas, growth in the automotive and manufacturing, and it also affects growth will have the sale of residential property this year," he said.

With respect to Tijuana, he said, is a very special case, because it is a city that was marked by the issue of insecurity and violence; however, today there are also an interesting economic activity in the manufacturing sector, which is moving other sectors of the economy as it is real.

"In these cities the markets are already well defined; most Americans and Canadians is concentrated in Cancun and Los Cabos, while the European market and more recently a percentage of South Americans prefer options like Riviera Maya and Tulum, for his concepts of harmony with the environment ", he said.


Considered the possible adoption of the 27 constitutional reform that would allow foreigners to acquire property in the coastal areas of the country, would give a boost to the sector to 15% immediately to the approval of the reform; however, Linda Neil Jones, representative in Mexico of the National Association of Realtors, said that although at the time looked favorably upon the reform of Article 27 of the Constitution, today considered very remote possibility that, by the time that has elapsed since approval in the House of Representatives and Senators brake later.

How a property is valued for investment

Real estate acquired for investment, have completely different parameters, which are bought to live in them, when making an assessment of the same.

To assess multifamily properties, industrial, malls, office buildings and other property intended to serve as sources of income, three different methods are used: a) Replacement value; b) Comparison of income; c) value per square foot building and the land on which the building is erected.

Replacement Value: Replacement value as the name implies, is calculated taking into account the cost to build a building that would bring the same type, size and quality, which is appreciating in place and the area where the finds himself.

This is achieved through the current value of the lot of land on the property and the cost of rebuilding the property itself is erected; well, considering the size and facilities of the same, based on the current value of the building materials to be used, following the manufacturing drawings, as well as the cost of labor and any additional costs associated with the work.

Comparison of income: This technique is used mostly in multifamily properties, shopping centers, office buildings and industrial parks and is based on performance yielding property in the financial year of a fiscal year, which is obtained by summing the annual revenues and these subtracting all expenses incurred during that period. That sum will yield net operating revenue in the fiscal year for which question. That figure is then divided by the money used to buy the property and have the economic performance of the property, in its first year. That performance compares to other properties of the same type, within a radius of one kilometer radius, and up to the desired number. It is known that some properties offer more performance if they are financed that if you pay in cash.

Value per square foot building and grounds of the property: This mode is easy to understand, because it is do a search for the square footage of the properties that have recently sold and closed in the area, with the aim of obtaining the average price paid per square foot manufacturing and field, to apply to the actual dimensions of the property being valued.

Although it seems simple it is not, because factors such as access to the property, parking, proximity to main roads with intense traffic, existing tools and / or heavy equipment locked in place, and the physical location of the property in the block itself , may affect the intrinsic value of the property.

Most important of all is the location of the property. A good location justifies any adjustment to the purchase price. Should always be taken into account to compare the properties are similar; that is, to compare oranges with oranges with oranges and apples ever.

Martes, Hulyo 1, 2014

The volume of real estate sales in Texas are comparable with those of 2009; prices remain uniform

According to the most recent version of the Texas Quarterly Housing Report (Quarterly Housing Texas), the effects of the federal tax credits last year for homebuyers survived in the Texas real estate market in the second quarter of 2011.

As described in the report, sales of single-family homes totaled 58.795; 12 percent less than the same quarter of the previous year in which sales volumes were supported by tax credits for homebuyers, who were overcome.

Dwight Hale, chairman of the Texas Association of Realtors (Realtors Association of Texas), commented on the results: "While sales statewide have fallen compared with 2010, when the tax credits were having the greatest impact in our market, we are at par with the second quarter of 2009. Moreover, Texas has we dominated national headlines for its economic strength, which makes it clear that the recovery continues in our state. "

Jim Gaines, Ph.D., an economist with the Real Estate Center at Texas A & M University, also commented on the results:
"Given the impact of tax credits last year, not surprised to see fewer sales this quarter compared to last year. Anyway, I'm surprised to see that sales volumes were not further behind in respect of 2010" .

Real estate prices in the second quarter of 2011 indicate strength in the Texas market. . Median price was U.S. $ 150.400, one percent higher than the same quarter of 2010 the average price in the 2nd quarter of 2011 was U.S. $ 201.288; 4.6 percent higher than Q2 2010.

Gaines explained. "Increasing the average price of Texas homes indicates more activity among higher priced homes Homebuyers higher priced have been less affected by tighter mortgage lending standards and real estate have become an attractive vehicle for investment, due to instability in other investments like securities. "

He continued: "It is also important to note that the price stability of Texas is in stark contrast to many other parts of the country have shown sharp falls in the price of both the median and average."

Another important market indicator is the inventory of homes available for sale compared to the demand to buy houses. Measured in months, Texas had 8.1 months of inventory in the second quarter of 2011, compared with 7.2 months in the 2nd quarter of 2010. That's 12.5 percent higher-or just less than 30 days of additional stock-compared with same period last year.

As Gaines explained, several factors contribute to this change: "Based on how this figure is calculated, estimates of the demand for real estate is affected by the tax credits last year also new housing stock entering the market. as banks resume foreclosures that had been delayed by the investigations related to the practice of robo-signing (filing false court documents). overall, our inventory is just below what we consider to be a market balance. "

Gaines also commented on the general trends mentioned in the report: "More than in previous quarters, we see a great variability among the 47 Texas markets included in this report generally markets that showed the largest increases in sales volumes when it was. available tax credit are the same markets that now show the greatest decreases after it ended. As always, it is important that buyers evaluate their own local markets and even their own submarkets-up neighborhood level, in many cases to take action and informed purchase sale. "