No Picture
For Sale by Owner

Highest Ever Sold Apartments in Mumbai

The property market is also down within the dumps, however Mumbai has another time recorded the foremost expensive apartment deal within the country.

A residential skyscraper having 28th-floor flat in Tahnee Heights on Nepean Sea Road in south Mumbai has sold for an eye-popping Rs 1.20 lakh a sq. ft. The 3320 sq ft (built-up) apartment with a covered parking garage of over four hundred sq ft fetched around rupees thirty-nine crore.

The Bhimjyani family, that owned the flat is believed to possess sold the property to Jindal Medication (S K Jindal), that already owns 3 residences in Tahnee Heights. The Bhimjyanis, who are realty developers are shifting to Worli Sea Face.

Market sources of the residential property in Mumbai said the transaction that happened last week could be a one off deal and doesn’t mirrored the general market sentiments.

Old buildings still in demand

Flats in landmark buildings can still fetch premium rates despite the slowdown. It once more proves that buildings made 3 to 5 decades ago are still abundant sought after.

It was solely four months ago India’s richest housing society, a flat in Cuffe Parade’s Jolly Maker 1 and a four-decade-old symbol of Mumbai’s affluence, was sold at Rs 1.11 lakh per sq ft. It had been hailed as a record then. The twenty first floor flat with a carpet space of 2590 sq ft fetched rupees twenty nine crore on January. It had been sold by the Jagwani family, that runs a jewelry business, to Ashok Patni, one of the 3 brothers who own Patni Computers. Before that, the highest costs was Rs 37.25 crore for a 3600 sq ft flat in Worli’s Samudra Mahal in 2010.

In 2007, a 3475 sq ft (super built-up) flat in NCPA residences at Nariman Point was bought by a London-based NRI at Rs 97,842/sq ft. Almost five years back, actor Vinod Khanna and his wife Kavita quoted an astounding Rs 1.20 lakh per sq ft for a 2500 sq ft flat within the B-wing of Il Palazzo on Little Gibbs Road, Malabar Hill. However the Khanna’s later scrapped the deal as they felt they’d overbid.

A sale of a four-bedroom flat at NCPA residences at the Nariman Point end of Marine Drive for a gravity-defying costs of Rs 97,842 per sq. foot or Rs 34 crore, that was conducted by C B Richard Ellis, a global property consultant, real estate specialists have warned that this was a “freak sale” and isn’t a real indication of Mumbai’s residential property market.Incidentally, NCPA residential property in Mumbai has been at the centre of some huge deals. In April 2006, TOI had reported a divestiture of a similar-sized flat in this building at Rs 63,000 a sq ft. The clients then was the confidante of one of India’s wealthiest businessmen.

Flats in NCPA are owned by companies and not people. The National Centre for the Performing Arts is that the promoter of the residential property in Mumbai. When bookings for the prominent building began within the early nineties, the costs was concerning Rs 7000 a sq ft. However at the height of the property in Mumbaiboom in 1995-96 that continues to be rising since then and the residences at NCPA fetched concerning Rs 30000 a sq ft.

Sources say a clause within the NCPA sale agreement stipulates that if a flat is resold by 50% of the profit ought to attend NCPA, of that half are given to the govt of Maharashtra. It’s alleged that several sale transactions during this building aren’t registered owing to this clause.…

No Picture
For Sale by Owner

Foreign Real Estate Investor Activity On The Florida Real Estate Market From June 2011 To June 2012

Foreign real estate investors are certainly making their presence felt on the Florida real estate market as their tremendous boost in sales has accounted for as much as 19 percent of the $58 billion worth of home sales made within the state over the period from June 2011 to June 2012.
According to reports, a total of $10.7 billion was spent by foreign real estate investors who have chosen to engage in the Florida real estate market for all of their investment needs. Most of the transactions were carried out in cash.
Top Locations
Out of the many locations found within the state of Florida, the top locations for most foreign real estate investors include Miami-Dade County where 32 percent of all sales were made, Broward County were 12 percent of all sales were made, and Palm Beach County where 7 percent of all sales were made.
Florida has always been a major tourist destination within the United States. With so many different settings and communities to choose from, there is really no surprise in finding the foreign population growing, especially since the region has been known to have such broad cultural diversity in the first place.
Prime Reasons
Aside from the opportunity to be able to own their very own home within one of the most beautiful states within the United States where the best lifestyles are provided, foreigners have also been eager about the many bargain opportunities that have been available on the Florida real estate market, especially in the case of those whose local currency provides them with the chance to acquire higher value for their money.
Likewise, foreigners coming in from nations that are faced with economic trials tend to seek out stable investment opportunities such as the ones available within Florida which enable them to keep their wealth in a safe place with the possibility to gaining profit over time.
Needless to say, the luxury sector of the market has been gaining a lot of attention as wealthy property buyers from around the world are looking to take advantage of great discounts which are currently being offered on the most illustrious homes and condos available within the region, particularly those within exclusive communities in Miami Beach such as the South of Fifth neighborhood, South Beach, Millionaire’s Row, Bal Harbour, and Sunny Isles Beach.
If you are interested in the different types of options that are currently being offered to foreign real estate investors on the property market, you should make it a point to get in touch with a professional agent that can provide you with complete details on your available options.…

No Picture
For Sale by Owner

Save Time And Money With an Agricultural Steel Building

The United States of American has the world’s largest economy, and it isn’t even close. The nation’s nominal GDP is more than double that of the runner-up, China. On a global basis, America has a mixed, vibrant economy that is home to popular technological giants like Apple, Microsoft, and IBM. While it is true that these corporations have helped shaped the modern world, another industry is every bit as important, but is often overlooked.

America was once a nation of farmers. Before the Industrial Revolution, most folks worked on family farms. The growth of manufacturing and urbanization had a devastating effect on the agricultural industry. According to the U.S. Department of Agriculture, there are nearly five million fewer farms in the United States than there were in the 1930s. There are only around two million farms in America and only a little over one-quarter of them are family-run. Furthermore, only about 2 percent of the workforce is employed in agriculture, compared to 41 percent in 1900. How then has the country managed to remain a net exporter of food?

In a word, technology. Whether it is done on a family farm or on a corporate one, farming is far more efficient than it has ever been. It is for this reason that food prices in the United States have remained relatively stable over the past few decades. As a percentage of total income, Americans spend less on food (when adjusted for inflation) than they did in the past. So, even though there are fewer farms today than there were one hundred years ago, agriculture remains an important part of the modern economy.

Science and technology have helped the industry come into the 21 century. Crop yields and outputs have never been higher, which has created an enviable problem. Most farmers produce such enormous crops that they sometimes run out of space. Storage is a major issue on both corporate and family farms. The days when farmers could keep everything in a gambrel-roof barn have long since come and gone.

As quaint and nostalgic as these structures might be for tourists, they are far too expensive for agriculturists who simply need extra space. Not only are they more costly to build, wooden barns also require regular maintenance. It is for these reasons that most contemporary farmers buy an agriculture steel building, or several of them.

What are the benefits?

First and most important is the price. Steel is far less expensive than lumber and will save owners beaucoup bucks on construction costs. Agricultural steel building come pre-fabricated and should only take a few days assemble and erect. As a material, steel is obviously far stronger than wood and holds up better against the elements. These structures will not rust, corrode, oxidize, or leak, as other storage units are wont to do. And because it is made of a sterner stuff, a steel farm building provides more interior square footage than a traditional barn. There is no need for beams or trusses to hold them up!

What can they store?

An agricultural steel building is suitable for animal barns, horse stables, feed and hay storage, and much, much more. Some farmers used them to house their farm equipment and vehicles, such as tractors and combines. Larger corporate farms often have several steel farm buildings that they use to store their crops and feed.…

No Picture
For Sale by Owner

Bulk REO Investing

With the record number of foreclosures announced in the media, the opportunities are endless. One of the areas with great potential for profit is buying and selling bulk REO real estate owned foreclosure property. You may wonder what that is, let me break it down a little. Bulk means that the property is not a single piece, but a package of multiple properties.
These properties may consist of a block or even a neighborhood. Buying in bulk means saving, weather it is nuts and bolts or real estate, bulk usually means savings. REO stands for real estate owned. This property is still unsold after going through a foreclosure auction, a bank or mortgage company owns it.Understanding what bulk REO real estate owned foreclosure property is one thing, but why should you be interested in investing? Let me give you a few reasons.
1. Price – The price of these properties is much lower than the average market values. This provides an great opportunity for profit!
2. Lien-free – The sellers of the bulk REO real estate owned foreclosure property tries to make it as attractive as possible, which means the removal of existing lien from the property. This also lowers an investors risk in purchasing.
3. Less Work – Because these properties have already been through the foreclosure process and auction, they have already been appraised. This is one less task that needs to be done, saving both time and money. Often to lure buyers that bank or mortgage company will have already done needed repairs and improvements to the property prior to the failed auction, which less work for you as an investor. REO have also already been through the messy and time-consuming process of evicting the previous residents. There is also no auction to deal with as an investor can make an offer at any time. That means following your own investment schedule.
4. Less Competition – The fact that most people are unaware of bulk REO real estate owned foreclosure property provides for very little competition. Fewer competitors mean better prices and opportunity to obtain attractive and lucrative properties.
5. Inspection – Unlike many other foreclosure properties sales, bulk REO real estate owned foreclosure property provides an opportunity for inspection before you invest. This is an important feature because you have good intimate knowledge of the properties before you invest you money.
There is money to be made in this exciting field of investing.…

No Picture
For Sale by Owner

The Must Have Features in a Dream Apartment

If you are ambitious, and want a lifestyle that is modern and tasteful, then living in a rented flat might not be such a good option for you. Probably, you should look out for a luxurious apartment in Central London at a posh location. With the help of a reputable estate agent, it will be fairly easy for you to find a modish flat that will seem to be tailor-made for your requirements.

Here are a few points that will help you understand what might be the best option for you in terms of an apartment that offers comfort, convenience and style all at the same time.

Talking about comfort, you’ll need to look up for factors such as wooden flooring that will keep the house warm and cosy. This type of floor covering will also give an elegant look to your house. You might also want to look for bright contemporary interiors, in order to keep your home vivacious and make it a happy place. Additionally, a balcony can help you have a good view of the outdoors while also acting as a place where you can unwind after a hectic day. With a spacious one, you can even host a get-together of a small group of friends for some fun and recreational activities.

When it is about convenience, you should have a clear picture of the number of bedrooms and bathrooms that you would need. The majority of apartments consist of 1, 2 or 3 bedrooms, with not more than 2 bathrooms. If you have guests visiting you quite frequently, you must look for a large and airy reception. A separate kitchen is known to provide utmost expediency and is a must have feature. Some amenities like 24-hour porter age, lifts, parking space, and proximity to public transport alleviate the ease of living. Air cooling facility and under floor heating are some features that will augment the quality of your living.

The style quotient of an apartment is dictated by the type of interiors, flooring style, and the kind of furnishings used. A furnished flat accompanied by a fully equipped kitchen has a unique style statement of its own.

Now, as you are aware of the most imperative factors while searching your dream house, you just need to go online and find a proficient estate agent to start your hunt. So do not wait any longer, just set out to find that perfect apartment which suits your budget.…

No Picture
For Sale by Owner

The Fed Said to Be Concerned About Deflation

Deflation is a terrible economic scourge and with inflation running at half of the Fed’s target small changes can put the economy on the wrong side of this issue. Right now, the Federal Reserve’s voting members appear to be changing their bias to protecting against this as the economy appears to be losing steam and federal stimulus begins to fade. For the heavily leverage real estate industry, this is important news.
Deflation if it occurs can mean continued falling property prices and an increasing spiral of foreclosures as hiring remains weak, wages begin to fall, and capital availability (especially debt) remains inadequate to push the economy forward. Were all these items begin to happen in a cascading roll of bad news not only a double dip recession but a much more damaging potential 2nd economic crash would be possible.
The good news is the Fed sees this as a risk and is taking strong steps to prevent this set of events from occurring. By increasing bank lending, buying federal notes, and acting to keep rates very low the potential for the disaster scenario is limited.
With the Fed watchful, the industry should focus on how best to capture gains from this continuing series of events. First, portfolio owners with strong capital positions should move aggressively to take over the assets that are faltering at as deep a discount, with as long a term, and as quickly as possible. The buyers will protect their current asset value, capture major future returns, and position themselves positively for the longer term growth patterns.
With the huge cash reserves in corporate America that already exist, the more assets investors can have well placed to endure a significant inflationary spiral the better as the protracted period of relatively extreme money supply promoting policy positions a major potential for future inflation. Essentially, corporate America’s own cash could become the very instrument driving inflation when conditions turn. Businesses seeing conditions begin to speed up will quickly move to put this oversized cash supply to work hiring, building new facilities, repairing what they already own over stressing the supply system and driving inflation.
Real estate investors should be winding down their cash positions over the next 18 months anticipating stronger economic growth at the end of this period. This wind down should be focused on debt reduction and cash flow ownership. Managing capital in this way, will provide the ongoing liquidity the investor needs while protecting against inflation risks and the potential destabilizing events that could occur.…

No Picture
For Sale by Owner

Cutting-Edge Real Estate Advice For Property Sellers

If you have ever had any sort of experience selling real estate, you know how challenging it can be to achieve the desired results. It is important to have a courageous attitude, but you must also arm yourself with the necessary facts and know-how in order to get the upper hand. Read this article for some fantastic tips about how to sell real estate.

A lot of people are frustrated by small, but ongoing maintenance costs, like painting, plumbing, and landscaping. However, neglecting the regular maintenance your house requires can come back to haunt you when you want to sell it.

The cause is the asking price. Make up a reasonable price that everyone can be happy and comfortable with.

The best way to sell a home in any market is to ensure that the price you set for it is reasonable. Find out what comparable homes have sold for in the area and price your home at the median price. Going too high will scare off potential buyers, leaving you to reduce it in a few weeks time.

Prior to listing your house for sale, ensure that the air conditioner and heater are working well by getting them serviced. As a general rule, home buyers expect the basic functions of a home to be working well, and this includes the air conditioning and heat. If a house requires immediate maintenance, or the purchase of such items, buyers will be deterred from putting in an offer.

A good bidding war might really be your ticket to a great selling price. If you set your listing price at one which is competitive against others homes that are up for sale in your neighborhood, you will get interested buyers. A bidding war between multiple buyers could result in a higher selling price for you.

Try to time your sale so that you close the deal before moving to your new house. Paying for two houses can be a huge burden you might not be able to handle. Leave yourself plenty of time to find a really good buyer.

Do you want to unload your home fast? A good way to generate interest is to price the home below the cheapest comparable property in your area. Set it around 10% below that. Buyers will be attracted by such a low price, and will flock to your house for a viewing.

In order to allow potential buyers to see a reflection of themselves in the home, you should ensure you eliminate all your personal stamps in it. This can be done by removing personal mementos and family pictures. People that are buying your home want to imagine themselves there not you and your family. You need to de-clutter everything since you want to show them the space, not your stuff.

Regardless of whether you’re just getting started or have been doing this for years, markets can shift so fast that staying on steady ground is a hard thing to accomplish. Utilize the tips above to help you sell your property and become successful.…