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Where the super rich are buying homes - 24 Dec 2015 11:45
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[[html]]The United States is the top destination for those worth more than $30 million buying residential property valued at a million or more, according to a report from Wealth-X and Sotheby's International Reality. <br><br>Not only <a href="https://www.realestatebook.com/">https://www.realestatebook.com/</a> does America have more rich people than any other country, its stable government and high standard of living make it an attractive choice. Also, great colleges. <br><br>"Many [wealthy people's] children attend university in the United States," the report said. "For these families, the investment value of owning a property in the country is made even more attractive by the access it provides to educational opportunities." <br><br>Related: Even millionaires get depressed <br><br>New York is the leading city worldwide for wealthy residences, where the rich are attracted by the city's cosmopolitan feel and position as a financial hub, the report said. <br><br><img style="float:right;margin:10px;border:none;" src="http://mutienterprises.com/wp-content/uploads/2013/11/marketing-real-estate.jpg" width="368" /><br><br>Roughly 40% of rich buyers in New York work in finance, according to the report. Most foreign wealthy buyers in the city come from the United Kingdom. <br><br>London is the second most popular city for wealthy real estate buyers, and finance is also the top profession. Most foreign buyers in London come from India. <br><br>Rounding out the top five are Hong Kong, where the real estate industry is the main driver of wealth; Los Angeles, fueled by entertainment and San Francisco, driven by tech wealth. <br><br>At least half of these wealthy buyers use a mortgage to <a href="http://simsurbanoasis-by-guocoland.com">click here to investigate</a> purchase their property. The <a href="http://www.simsurbanoasis-by-guocoland.com">a knockout post</a> report noted that wealthy individuals tend to keep large amounts of cash <a href="http://www.themlsonline.com/seattle-real-estate/">http://www.themlsonline.com/seattle-real-estate/</a> on hand (roughly 25% of their net worth), primarily for use in businesses opportunities. Mortgages, especially in this low interest rate environment, keep more money available. <br><br>Females preferred high end real residential estate as an investment over males. Wealthy women held 16% of their net worth in real estate verses less than 10% for wealthy men. On average, 64% of a rich person's net wealth is held in business interests. <br><br>While cities — with their proximity to businesses centers — tended to dominate the list, the report also noted several hot spots that were popular for lifestyle reasons. In the United States, the top locations for vacation homes for the wealthy were Southampton, NY; Aspen, CO; Naples, FL; Greenwich, CT and Palm Beach, FL. <br><br>Top 10 cities for wealthy residences Rank<br><br>City<br><br>Most foreign buyers from<br><br>Top industry<br><br>1<br><br>New York<br><br>United Kingdom<br><br>Finance<br><br>2<br><br>London<br><br>India<br><br>Finance<br><br>3<br><br>Hong Kong<br><br>China<br><br>Real estate<br><br>4<br><br>Los Angeles<br><br>United Kingdom<br><br>Entertainment<br><br>5<br><br>San Francisco<br><br>U.K, India, Australia<br><br>Tech<br><br>6<br><br>Washington, D.C.<br><br>Domestic<br><br>Non-profit<br><br>7<br><br>Singapore<br><br>India, Indonesia, China<br><br>Real estate<br><br>8<br><br>Dallas<br><br>Domestic<br><br>Oil<br><br>9<br><br>Mumbai<br><br>Domestic<br><br>Industrial<br><br>10<br><br>Paris<br><br>China<br><br>Fashion<br><br>CNNMoney (New York) First published February 4, 2015: 10:30 AM ET <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/pgd6cCWEAXc&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/pgd6cCWEAXc&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>[[/html]] - Comments: 0
Real estate today: Older buyers, more bathrooms - 09 Dec 2015 23:49
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[[html]]Good news abounds: In August, new home sales are at their highest level since 2008. Homebuilder confidence is back to its best level in a decade and even mortgage applications are climbing again. <br><br>And data released Tuesday shows construction crews are starting on homes at the fastest pace since the recession. <br><br>Put all that together and the housing market is finally starting to be a real boost to the U.S. economy — and stock market — instead of a drag. <br><br>But today's real estate market is a very different place than before the recession. <br><br>American home buyers are getting older and homes are getting bigger. <br><br>Related: Warren Buffett's top stocks are dogs this year <br><br>The median age of a homebuyer has gone from 35 to 43 <br><br>The median age <a href="http://real-estate.lawyers.com/">http://real-estate.lawyers.com/</a> of a homebuyer in 1985 was 35. <br><br>When the housing boom was nearing its peak in 2005, the median homebuyer's age was 39. Now it's 43, according to U.S. Census data. <br><br>"We consistently tell that story of people delaying homeownership," says Skylar Olsen, senior economist at Zillow. "People are delaying things that pre-date homeownership — like getting married later and having children later." <br><br><img src="http://i2.cdn.turner.com/money/dam/assets/151020151336-homebuyers-median-age-780x439.jpg" width="780" height="439" alt="homebuyers median age" border="0" /> <br><br><img style="float:right;margin:10px;border:none;" src="http://naijainvestment.weebly.com/uploads/4/2/5/6/425690/1072388_orig.jpg" width="357" /><br><br>Homes are getting bigger <br><br>Homebuilders are catering to more middle aged buyers by building larger homes. <br><br>Since 2000, the typical American home for sale had about 1,800 square feet. That's remained fairly steady over time. <br><br>But new <a href="http://www.weichert.com/">http://www.weichert.com/</a> homes that are just being built typically have 2,200 square feet, according to an analysis by the National Association of Home Builders. Potential homebuyers say they want a place that is at least that <a href="http://simsurbanoasis-by-guocoland.com">http://simsurbanoasis-by-guocoland.com</a> large. <br><br>So what's going into all that extra space? <br><br>More bathrooms. <br><br>"Builders are adding more bathrooms. You want a little bit more privacy," says Olsen. <br><br>Multi-family homes are also booming as people buy homes as investment properties to rent out. In the late 1980s, people would rent for four years before purchasing their first home. Now it's at least six years. <br><br>Large homes often translate to more money for builders. No wonder the stock market funds that track homebuilders are soaring this year. <br><br>The iShares U.S. Home Construction ETF (ITB), SPDR S&P Homebuilders ETF (XHB) and iShares Residential Real Estate Capped ETF (REZ) are all up about 6% or more in 2015. That's much better than the overall stock market, which is negative for the year. <br><br>Related: No one believes China's growth, but… <br><br>Student debt doesn't explain housing trends <br><br>The other common explanation for this big shift in American real estate is that young people have too much debt to buy homes, especially from student loans. <br><br>But economists at Zillow took a look at the probability that someone would buy a home if they have zero debt all the way up to $50,000 in student loans. <br><br>They found that higher student debt had almost no impact on the decision to buy a home. <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/J1MshsbargU&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/J1MshsbargU&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br><img src="http://e-papyrus.com/wp-content/uploads/2015/01/Real_Estate_Investment1.jpg" width="324" /><br><br>Banks were very willing to lend to young people who had bachelor's degree or higher, a recognition that these people would be likely to earn good salaries and pay off their loans. <br><br>The one exception was people who earned only an associate's degree. There was a 75% chance of buying a home if they had no student debt. <br><br>But that fell to less than 60% chance of purchasing property if they had $50,000 in loans. <br><br>It's an economic reality that workers with at least a bachelor's degree now earn about $65,000 on average a year, compared to less than $50,000 a year for those with only an associate's degree. <br><br>Related: Great Depression: 170,000 incredible images now online <br><br>CNNMoney (New York) First published October 21, 2015: 5:12 AM ET <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/fu1sYC3gLx0&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/fu1sYC3gLx0&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>[[/html]] - Comments: 0
Why Hire a Real Estate Advisor? - 07 Dec 2015 09:19
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[[html]]Dubai is a city where the Real Estate Industry is full of endless opportunities and great possibilities. In reality, the competition is tough and the Real Estate Market is a Jungle. Therefore, when you are trying to either sale or lease, the best advice is for you to seek assistance from a Certified Real Estate Agent. Although there are certain people who are qualified enough to sell their own home, the reality is, answering a lot of questions that comes with the process is not as simple as it may seem and sometimes there are difficult situations that calls for the help of a professional. Some people have the mentality that they will be able to save up more money by doing the buying or the selling process by themselves not knowing that it can end up more costly than paying for an Agents commission.<br><br>Most people do not have any problems on getting help from Real Estate Companies and getting assistance from a Real Estate Agent, but let us try and answer the most common question, Why? Well, I have a few points to discuss.<br><br>The professionals know everything better<br><br>Certified Real Estate Agents are professionals in this industry and they are very knowledgeable on how the Real Estate Market works. The Agents studies the real estate market very well and they can get <a href="https://www.realestatebook.com/">https://www.realestatebook.com/</a> you good investors with big offers for your property. They have easy access to the listing of other agents and they have further connections in the market. They already have a good picture of how the competitors work and how to outdo them.<br><br>Save yourself from too much frustration<br><br>If youre planning to sell or lease your property and thinking of doing this solo-flight, you will need to spend so much time and effort on the phone, calling people that may or may not be of good potential. Too much of your precious time can be wasted for calls you make to people that may or may not be serious on your property. This will only prolong everything and will not help get your property sold or rented in the fastest possible way. For Agents, on the other hand, they know many people and many fellow agents. It is much easier for them to find the right individuals to deal with, thus, making the process easier and faster.<br><br><img src="http://www.financialgazette.co.zw/wp-content/uploads/RealEstate1.jpg" width="261" /><br><br>Selling or leasing a property <a href="http://www.trulia.com/NY/New_York/">http://www.trulia.com/NY/New_York/</a> needs full attention<br><br>Most often than not, your time is divided into tiny fragments to accommodate many things that needs to be done on a daily basis.When youre selling or leasing your own property, you are adding more weight to your already heavy schedule. You might end up missing <a href="http://botaniqueatbartley-uolgroup.com/botanique-at-bartley-location/">news</a> leads and lose many opportunities because potential buyers are very likely to move on if you fail to respond quickly enough when you are busy. As for Real Estate Agents, they can arrange viewings and meet up clients on your behalf. They are focused on the buying and selling process and are very reachable at all times.<br><br>The Agents will do the advertising for you<br><br>As part of their job, the Agents can get your property listed and advertised to various portals making it available for many people across the Internet. The plus point is that they can update the advertisement for you and can easily get your property sold or rented. This <a href="http://botaniqueatbartley-uolgroup.com/going-green-the-benefits-of-having-eco-friendly-real-estate-infrastructures/">get redirected here</a> is the same case when you are trying to buy or rent. They can get you the ideal property that you are looking for and can negotiate for a reasonable price that are favorable for both parties. See? Agents can save you from a lot of trouble and stress (both physical and emotional!).<br><br>Negotiations can be complicated<br><br>The Agents know what the best and the most effective strategies are and how it should be played. Real Estate is a very tricky business. It is so complex that one must have a deep understanding of how things really work. Many people might think that direct negotiation between the seller and the buyer is better since both parties can easily take care of their interests. I must say this is true IF both parties are reasonable people and can easily get along. But, this is not always the case; there are times that the relationship is not easy. If you have an agent, he/she can easily relay your concerns to the other party without the risk of you insulting the other. In tough transactions, the agent can speak for you, keeping things according to business and stir clear from becoming personal. So, it will always be wise to have a middleman to do the negotiations.<br><br>Contracts and other documents are too much to handle<br><br>The Real Estate Agent can take care of all the contracts and the terms that are needed in closing a deal. As mentioned above, the real estate industry is very complex. In Dubai, there are many laws that you need to watch out for. As an added caution, it would be wise to leave all of it to your agent. In that way, you and the other party will be protected from conflicts that may arise. The agent can help you be familiarized about your rights and your responsibilities (and can do all the paperwork!).<br><br>There might be many more reasons as to Why but the bottom line is, when you find yourself in a tight situation it would really be an advantage to have a Certified Real Estate Agent on your side.<br><br>[[/html]] - Comments: 0