June arrives with discounts of 21% for home buyers

Home buyers are submitting bids to the downward price fixing output owners up to 21%, as they are still far from marking budget. “These negotiation situations normally occur in the field, when households have a price above the market price” asserts Gandarias Manuel, director of the Research Unit of pisos.com. Also, when the sale date marked by the owner has not been achieved, then decided to resort to negotiation on the price to sell your property, always within the parameters of the market price.

However, the housing stock is still stagnant, despite the price adjustments due to other factors such as job losses or mortgage stiffness. “Despite aggressive offers from banks in recent months with reductions in the interest rate and increased mortgage lending, sales figures are still far from the levels achieved in 2007,” said Manuel.

While from 2009 to 2011 user looking for a house of 90 square meters and 142,000 euros on average in both 2012 and 2013 cut its budget to 127,500 euros, 10%, keeping the surface.

The request for reduction in price which closed in June 2014 by 21%, two percentage points lower than in December 2013 (23%), as reported by Idealista.com.

Girona is the province where buyers asked for a bigger discount on the price, up to 26%, followed by Badajoz (-25.5%), Lleida (-25.2%), Tarragona (-24%) and La Rioja (-23.6%).

In Barcelona and Madrid are the places where supply and demand are close to 20.6% and 20.1% respectively.

Location of the rental market

The rental market in Spain for its part, remains stable. The price has dropped less than half compared to the selling price. “We are far from reaching levels set by Europe, around 30%, where the rent is encouraged rather than buying yet” stresses Michael Gandarias.

The new measures adopted by Fomento to encourage rental housing, aims to enhance access to housing for all those with financial problems.

Also, renting is a way to monetize the house by the owner.

Advice for Sellers

Get sell the house as quickly as possible is easier if some tips are attended, according idealista.com eg
• Put an attractive and according to other houses for sale in the area with similar characteristics and price.
• Conduct a competitive analysis of the market to set the starting price of the property.
• Respond quickly to calls and messages so not to lose the opportunity to sell
• Provide maximum flexibility in visiting hours at home
• Harnessing the flip rent. The adoption of the new rent subsidies a more profitable housing.
• Using the circle of trust, as the friends of our friends may be interested.
• Drawing on real estate portals to give visibility to our properties.
• Be optimistic, since the objective always achieved.

Peruvian departments buy more than $ 3 million in Miami

The Peruvian buyer who wants to purchase land in foreign cities property search is over $ 400 thousand properties with investments of over U.S. $ 1 million, said Andres Valdivieso, director of sales Muse luxury real estate project in Miami, United USA.

In the real estate business is luxury all the contacts, and Valdivieso, who works for the PMG developer, you know. So, when the runners began the Miami area to talk Peruvian buyer paid attention.

“What we started to find out when we talk to real estate agents was that Peru was going to buy apartments $ 300 thousand to $ 400 thousand for commercial purposes, ie, for resale or to rent, to focus on land by over a million dollars, “says the executive.

checked
So he decided to check the data and the smell did not fail him. Valdivieso offers the Muse project, a luxury building with 50 floors and 68 apartments in the Sunny South in Miami, where the humblest space costs $ 3.8 million and the most expensive U.S. $ 8 million in Lima is grounds between 230 to 320 square meters overlooking the ocean or bay. And this landscape has six Peruvian owners who have booked apartment in the complex.

“I can not detail the prices of each sale, but I can say that they have purchased from the properties of U.S. $ 3.8 billion to the more expensive,” he said.

He added that, at this time, 20% of the clientele of these projects will come from Peru, while 60% of their clientele comes from the region.

This budget increase of Peruvians to buy in Miami has been in the past five years, he said.

Rousseff announces new phase of housing construction plan

Brazilian President Dilma Rousseff, announced today the start of the third stage of a public housing plan, which will aim to build three million new homes from 2015.

“Our goal is to make clear that it is possible to build three million new homes, because what is going well, should continue,” Rousseff said in a public meeting in Brasilia, told Efe.

Rousseff’s mandate will end on January 1, although the president aspires to be re-elected for a new four-year term in the elections to be held on October 5.

In recent days, similar announcements made ​​today, involving plans for the coming years, have generated strong criticism from the opposition, which has branded the “election”.

In all cases, in announcing these new plans, Rousseff said that “what is going well, should continue,” a phrase that appears in all advertisements of the Workers Party (PT), which presidential candidate is.

Using the My House, My Life, the third stage was announced today, and have been built one million homes in the first phase and the second, still running, delivering 1.75 million is proposed residences until December next .

The program helps families with incomes of less than 5,000 reais a month (about $ 2,270) and offers prices and rates lower than the housing market, with state loans at preferential interest.

The impact of immigrants to the real estate market

Overall, immigrants have generated $ 3.7 billion in housing wealth in the U.S., helping to stabilize communities across America.

For an interactive map of the Impact of Immigration on the Real Estate Market you can click here.

Question: What is the main conclusion of this map?

Answer: Research shows that an increase in the absolute number of immigrants in a particular county in the period 2000-2010 resulting economic gains as well as increased demand for goods and services produced locally, hence an increase in the birth of individuals, which are reflected in the housing market.

The research found that immigrants revitalize undesirable neighborhoods in expensive metropolitan areas, opening new options for the working and middle classes buy U.S. homes. Also supports immigration housing market without exacerbating the worst affordability problems of the nation, as the immigrants themselves tend not to settle in the most expensive places.

Immigrants are also attracted by the Sun Belt (U.S. region extending from the Atlantic coast to the Pacific coast east of the west), mainly to cities like Houston, where housing has always been more affordable.

Question: How does this research say that immigration makes communities thrive? Not the other way around, that immigrants will move to more affluent communities?

Answer: The basic problem of the chicken and the egg was the most important challenge in the methodology. Fortunately, it is a problem that many labor economists have faced before, and the strategy used in this report reflects the techniques that have been used frequently in several reviewed by our peers about the impact of immigration on the labor market studies.

Immigrants tend to favor communities with many opportunities, but it is also clear that benefit the communities where other immigrants from their own NATIONALIT are already living.

For many immigrants, the presence of a key social network to find housing, employment and family-win for the local labor market decisions.

The immigrants would move to a county for two reasons: because the local economy is strong, or because there is a network of immigrants already exists in that location. The basic strategy of this research is to analyze the impact of immigrants who opt for the latter reason, and not the first. A statistical technique known as instrumental variable analysis to execute the strategy used.

Question. The average American home is bigger than it used to be. Does the research is saying that both houses and the immigrant population has grown over time?

Response. The study explains the main features of the homes: when the houses were built and are single-family homes or apartments? It also controls the key indicators of housing market: vacancy rates, average prices ten years ago, and the large number of units in a county.

The study also includes statistical controls to account for all permanent features of a county, such as the shortage of building land, and all economic and housing trends nationwide.

Question. Are the results were skewed by the housing bubble and the population explosion?

Response. The results are based on a study of the entire period between 1970 and 2010, of which the housing bubble burst and are a small part. Moreover, the study no data on housing prices in the period between 2001 and early 2006, which was the sharpest property inflation period.

The private housing market in the first quarter moved up 55% from a year ago

Maybe it did not come out of the tunnel, but the private housing market improves. In the first quarter of 2014 it moved to 55% from a year ago. Specifically, the property market moved to March 10386.5 million.

According to the Ministry of Development, the amount that moves the private housing market started 2014 in positive after scoring three consecutive years of decline. The data must be analyzed carefully because the first quarter of 2013 was particularly affected by the end of the tax relief on purchase of residence and the increase in VAT.

The 10386.5 million euros correspond to the 77,271 private housing transactions that were made between January and March (49% more than the year before). Specifically, free housing resale mobilized 8648.3 million (up 62%), while the amount in the new work was much lower, with 7682.3 million (+ 27%).

The region where the largest amount recorded in private housing transactions in the first three months of the year was Madrid, with 2,106.6 million euros. Behind stood Catalonia (1,890.9 million), Andalucía (1851.6 million) and Valencia (1,194 million).

Below are the Basque Country (485.7), Canary Islands (469 900 000), Baleares (443.7), Castilla y León (346.3), Galicia (313.6), Castilla-La Mancha (278) , Murcia (248.2) and Aragon (220.2). Meanwhile, the regions in which the private housing sector were moved less money Asturias (125.5 million), Cantabria (110.7), Extremadura (107.3), Navarra (98.2), La Rioja (65 , 4) and Ceuta and Melilla (30 between the two).

Live rent is more expensive in Madrid in Los Angeles or Miami

While in Los Angeles will pay rent 47% of salary in Madrid surpasses and reaches 52.35%.

The community where the rent is lower is Extremadura, where they are located around 470 euros per month, which accounts for 28.37% of the average wage.

Although the crisis has meant that fewer homes were bought, Spain is still a country where people still poses buy a home. Therefore, the rental figures are not as high as in other countries such as the United States, where between 2007 and 2013 were added to the housing market about 6.2 million tenants face a rather poor figure Owners: only 208,000.

In Spain between 2001 and 2011 the percentage of home ownership decreased to reach 78.9%, while the number of rental housing has increased. In 2011, the country had more than 2.4 million rental property, a figure that is 51.1% higher than a decade ago. However, despite increasing the number of houses for rent, prices have continued to rise to reach higher than some of the more expensive cities around the world levels.

Head to the latest data from the rental market in the U.S., where housing in cities like Miami or Los Angeles are an expense of up to 47% of income, we find figures of Spain. In general, almost all regions are around the threshold of profitability, but you get over it, do it with a vengeance.

The autonomous community of Spain more expensive to live in rent is Madrid, where rent consumes 55.25% of monthly salary. According to the profitability index, households are at a reasonable price while it is less than 30% of the income of a home. In the United States, at least 90 cities have a rental cost greater than this percentage.

Behind Madrid are Basque Country and the Balearic Islands, where to pay the rent is required to disburse the 46.73% and 42.48% of gross salary. Already below 40 include, but are still quite a high percentage, Catalunya (39.57%) and the Canary Islands (37.19%). In this context, in Spain there are only three regions that do not reach this percentage: La Rioja (29.20%), Castilla-La Mancha (29.03%) and Extremadura (28.47%). The rest are on this 30%.

The price is not that different

Although the rents are higher relative value in the U.S., average wages are also much higher. In Madrid, for example, the average gross annual salary in 2011 was located at 25845.20 euros, compared to $ 48,000 (34,779 euros) in Miami, the second most expensive city in the United States.

Although relative price difference is not so great: if a citizen of Miami lives in a rental house and I assumed 47% of his salary, we are talking about a car about $ 1,880, ie about 1,361 euros . While in Madrid, the average salary is 2,153.7 euros per month, which has to deal with a rent of about 1,190 euros.

Alongside the Basque Country, Catalonia, Baleares and Navarra, the property price floor of Madrid is the highest: 10.38 euros per square meter, a price that is 33% higher more expensive than in the rest of Spain.

USA rental, Spain Cart

In the United States the number of tenants is much higher than that of Spain. In the North American country in 2013 had joined the real estate market 6.2 million tenants, representing 1.9% of the U.S. population. The difference in the number of homeowners who joined the market this year is abysmal: only 208,000 people.

However, the Spanish property map is very different, although the trend is to hire increasingly detrimental cart. Between 2001 and 2011, the homeownership rate fell to levels of the eighties, while the percentage has been rising rents.

In 2011, 13.5% of the more than 18 million homes in Spain were hired which is almost increased by over 51% when compared with figures from ten years earlier.

In this context, the report by the Insurance Car in February based on the risk-to rent extracted the trend to increasingly live in lease and the gradual fall in rental prices do not lead increased payment guarantees. In this regard, within the group of Spanish renters, 30% are at risk of not paying rent to the owner.

Down in February the price of housing in the U.S.

The housing prices increased in February in the United States with respect to the steady pace of a year ago, indicating that the limited supply of available homes has gone up prices despite a drop in sales.

Analytic real estate firm CoreLogic said Tuesday that existing home prices rose 12.2% in February compared to a year ago. In January, up 12%.

On a monthly basis, prices advanced 0.8 February% from January. However, the list of CoreLogic month is not adjusted for seasonal factors such as winter weather, which may adversely affect sales.

Snowstorms, higher prices and higher mortgage rates sales fell in February to its lowest level in 19 months.

Urged decreased supply prices despite a decline in sales, which fell 0.4% in February to a seasonally adjusted figure for the annual figure of 4.6 million compared to January, according to the National Association of Realtors. The pace of sales could end up with homes offered at 5.2 months, said the association; the inventory figure is less than six months out sound economies.

The states with the highest price increases in the last year were California, 19.8%; Nevada, 18.5%, and Georgia, 14.2%. No state decreased its prices.

Prices in four states reached their highest level in February: Colorado, Nebraska, North Dakota and Texas. Other states are 22 to 10 points from their previous peaks, CoreLogic said.

Nationally, the average house price is still lower by 16.9% through April 2006, at the height of the bubble brick.

And home construction fell for the third consecutive month in February. However, there are hopeful signs: Builders requested more building permits in the past four months.

Venezuelan businessmen and Colombian second home seekers invade Florida

In the early months of the properties available in South Florida fell 70% compared to 2008. Shame of Latin Americans, especially Venezuelans, Brazilians, Colombians and Argentines, who buy 70% of the available properties. Your profile is varied, from businessmen to wealthy clients Caracas fleeing mass of Sao Paulo or Bogotá.

Little has changed in Latin America that made Miami his favorite neighborhood in the late 90. The average buyer is 45 years old, and 66% of them acquired the property that is your second home, and in 81% of cases, used.

According to Lonja Realtors of Bogotá, the average income of the buyer is U.S. $ 87,000 per year and that amount funded the $ 144,000 the average home, but paying cash is still preferred for almost 80%.

But on this there are many differences as deals in the area, recalled Liliana Gomez, director of sales for the international department of ISG World. This property controls, along with two other competitors, 70% of South Florida, with housing options ranging from U.S. $ 180,000 for the simplest to a base of $ 3.5 million for super luxury, from the financial area of ​​Miami areas located east of Palm Beach.

“80% of our inventory is sold to South America. The participation of Venezuelan and Brazilian 35% each. The remaining 30% is divided equally between Colombia and Argentina, but Colombians are slow to return to the market, “said Gomez.

While the Venezuelan client usually entrepreneur looking to invest in Brazil’s case is users “swimming in money” and want second homes, especially in Orlando. Colombians are “sophisticated people” who already own property in the U.S., and counterpoint, put the Argentines from different social branches, looking to take advantage of bargains in the market east of Palm Beach.

Jackye Ferreira Estate by Homes & Condos Florida agent said from the U.S. sales have increased 30% from 2010, the bursting of the housing bubble in 2008, he left behind a large surplus of housing that forced it to lower prices to be competitive.

“The costs are reasonable right now, nobody is asking for something out of reality. We talked and apartments costing an average of $ 300,000 in the case of Colombia have become attractive by rising housing in Bogotá. The difference is not so much a house in Miami, “said the expert.

This argument partly explains the buyer to return the Colombian South Florida. As Gomez recalled in 2005 this segment accounted for over 50% of its total sales in the region, and now rejoins re slowly to the comparison that is in the local market.

The relevance of the new housing boom is the Latin American simultaneity when buying, because even seen signs of interest, much more modest, Ecuador and Peru.

Lonja de Bogotá Estate Association said the real estate sector as the fastest growing segment in Florida, which has a weight of 20% of the total economy. The facilities for travel to Latin American and the similarity in price makes not only whether businessmen interested in investing.

“For a long time has been the image that is difficult for the foreigner to buy property here, and that has been proven false in recent years, has been a major change in the trend,” Ferreira said.

What properties are you looking for? For Colombia, houses of two or three rooms for second home event, and if it comes to investing, small apartments with high rents.

Miami has become a safe haven currency. For Venezuelans, who lead the market, is the conversion of their devalued bolivars to the dollar strengthened again.

A more attractive financing in South America

The option of financing is becoming increasingly attractive, as the annual interest rate is 5%, a rare find in the region, as you remember from ISG World.

In the latest report of the Association of Realtors Miami, indicated that most U.S. lenders require between 30% and 50% of the value of housing loans, which reduces paperwork and makes it more attractive mortgage rates.

U.S. mortgage applications up; rates to low: MBA

The mortgage applications in the U.S. rose last week due to a decline in interest rates, according to the Mortgage Bankers Association (MBA, for its acronym in English).

The group said its seasonally adjusted index of mortgage application activity, which includes both refinancing and demand for home purchases, rose 0.9 percent in the week ended May 16.

The seasonally adjusted index of refinancing applications rose MBA 3.8 percent, while the gauge of loan requests for home purchases, an important indicator of home sales, fell 2.8 percent.

Mortgage rates 30-year fixed averaged 4.33 percent this week, the lowest rate since November 2013 and 6 basis points from 4.39 percent the previous week.

The survey covers over 75 percent of the retail residential mortgage applications in the U.S., according to the MBA.

Recovery housing market still has a pulse

Confidence among home builders rose in May U.S. because sales conditions improved , suggesting that the recovery of the housing market still has momentum , showed data released Wednesday by the National Association of Home Builders (NAHB , for its acronym in English ) .

The Housing Market Index NAHB / Wells Fargo rose to 44 in May from a downwardly revised reading of 41 in April , and exceeded the forecast of 43 analysts .

Last month ‘s figure was originally reported as 42.

May Progress made ​​measuring confidence closer to the 50 mark that indicates more builders view market conditions as favorable as poor.

Although the index has not been above 50 since April 2006 , has improved with the broader housing market and has advanced 16 points compared to a year ago .
The real estate market began to shift last year and is projected to a tight inventory help keep up the house prices .

” Builders are feeling a greater sense of urgency among potential buyers as a result of a shortage of inventory of homes for sale, mortgage rates continued accessible and strengthening local economies,” said NAHB Chairman Rick Judson , in a statement.

The component family homes jumped to 48 from 44 in May. Measuring sales expectations of houses for the next six months rose to 53 from 52, while traffic of prospective buyers rose to 33 from 30.