Archive for July, 2014

June arrives with discounts of 21% for home buyers

July 28, 2014

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.

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Peruvian departments buy more than $ 3 million in Miami

July 14, 2014

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.

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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

July 7, 2014

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

July 2, 2014

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.