The Duchy of Lancaster, which has been a beautiful farmland area since the 13th century spanning a total of 18,700 hectares across
The property estate managers of this real estate have finished the work on converting farm buildings like stables and barns into fully functional office spaces. The project, which was undertaken at the Root Hill Estate Yard on the Whitewell Estate, is now complete with six independent office units here. The area falls within the
A total of 7,000 sq ft area of shared office space is available here at a rent of £10 per sq ft. The first tenant is ANOB, branch of the Lancashire County Council, who have decided to relocate from Preston city centre into 1500 square feet of office space here.
The project is said to be one of its kind, giving tenants here an unmatched experience in terms of office spaces surrounded by natural beauty and greenery. Much of the old world charm of the original buildings has been retained. These include the original trusses and beams that lend a unique appearance to these buildings.
The architectural expertise has come from specialist Duncan Isherwood in Clitheroe while the project has been supervised by Fylde Interiors of Lytham. In order to keep the buildings environment friendly, several features have been incorporated into their design, like use of sheep’s wool for insulation and use of traditional methods for heating and cooling.
As late as January, insurance company spokesmen were still articulating that they didn’t anticipate to have to put up insurance costs supported on their forecasts, but by late July that tune had varied. With Suncorp alone dealing with over 9,000 claims home can anticipate premiums to rise. But thanks to reinsurance Suncorps entire cost should be limited to $11 million. Of course this will grow as Brisbane residents start searching for Putney side returns quote and local double glazing
With the two biggest home insurers in QLD either declaring or reflecting a lift in insurance premiums, it’s very likely that your contents insurance premiums will rise, by nearly 9 percent. If your dwelling is in one of the areas that is famous as flood prone, you can expect the highest premium increases, but it is anticipated that the cost increase will impact every last insurance policy holders in some way.
If you have a home in a flood-prone region, you might be able to reduce your premiums by taking particular criteria to protect your property from flood damage. Those steps may include particular plumbing valves to keep out sewage from backing through your property and particular types of building that can quash the damage done by overflows to your house. So there has never been a more advisable time to revaluate your home insurance policy to realize if you can preserve costs.
You could hold on to money on home owners insurance if you recognise how. Price Reductions from your insurance company are accessible for a selection of grounds, extending from the type of construction material used to build your place to how near you live to bushland.
Put Up your excess. If you can
afford a higher excess, it is a great way save money on your insurance. If you do end up claiming for the total monetary value of your home the different between $500 and $900 will not appear that big.
Amend security and safety. Things such as dead locks, alarms and smoke detectors often get discount rates of 3% each, depending on the insurance company. Your insurance firm could in additional offer a considerable discount of 12% or 18% if you install a serious home-security system. If you’re thinking about buying such a system, ask with your insurer to see which systems they and which will realize you a deduction.
Many Europeans now embrace the concept of purchasing a home in a different country. Because these properties offer a good level of capital growth, lower airfares and low European interest rates have made buying in countries like Spain more attractive. You will enjoy lots of sunshine and it’s just a short trip to Spain. It may not have been a good idea to buy in Spain in the past, but it can be done more safely if you stick to some general guidelines. The following is a fundamental guide for those interested in purchasing real estate in Spain:
- Arrange your finances first.
Use an expert in Comments Off - Posted in Helpful Information, Real Estate, Regional Hub
Edinburgh has witnessed an increase in the letting of office space with its city centre having expanded by 44,000 sq ft, but the prices have tumbled and now are at the level of rates offered by smaller towns like Manchester and Glasgow.
Leases in the city centre witnessed a promising rise, with the accounting firm Scott Moncrieff taking a large area of office space amounting to 18,000 sq ft in Exchange Place. A report by Cushman & Wakefield has confirmed that the space leased to the accounting firm was the largest lease in the second quarter. Another 13,000 sq ft was leased by Hymans Robertson at the same address, contributing to further expansion of the city centre.
Grade A rates have plummeted a lot in Edinburgh with a fall of close to £29 per sq ft for prime office space, but Birmingham has topped the list of losers in Britain with a decrease of £30 per sq ft in letting spaces - see desk rent UK for rental information.
Angela Lowe, head of an office agency in
Knight Frank echoed similar thoughts when they said that fundamentals of buying and selling haven
Information
Both types of foreclosure list are good depending on what information you want and the level of competence of the investor. If you are a beginner, it will be recommendable to go for the paid service which can give you further information equal in value to that coming from a real estate professional. The reason is that, the paid service will take any common information on foreclosures and then conduct independent research to provide you with a more complete and comprehensive report on the property. A professional who has already developed links and contacts in the field may not need this elaborate report. He may only need a list of houses for sale and then carry on is own research.
Prices
A foreclosure list can be obtained for $20 a list or at a subscription of $100 a month. In between these two price ranges are intermediate ones which are a reflection of how much information is contained in these listings. Usually, your need and your level of competence in the field will determine which listing to go for.
Mail option
If you want a customized list, you may want to pay a higher price to have your unique needs factored into the list. Additionally you can ask for listings to be sent by emails, or formatted into spreadsheets so you import into your desktop programs for your convenience.
Like with any product, an extensive search for and comparison for available foreclosure list will give you the best price and value for money.
John Appleseed is contributor to
Bank
Foreclosure Listings, where is insider knowledge of
Bank REO strategies are
freely shared.
99.9% of mortgage borrowers raise the money they need to buy their home in pounds sterling and pay the prevailing UK based interest rate. But it does not have to be that way……..
Whilst by its’ own historical standards, the UK’s domestic interest rates are low, they are still significantly higher than in the Eurozone, America, Switzerland and indeed, Japan. Therefore, you can currently borrow the money you need in Euros, $ dollars, Swiss Francs or Yen, secure the debt against your house in the UK and pay a much lower rate of interest.
The following 3 month money market interest rates illustrate the extent to which UK interest rates are ahead of other parts of the world:
Sterling £ 4.64%
US $ 4.48%
Eurozone 2.46%
Switzerland 1.03%
Japanese Yen 0.12%
(Source: 3 month Money Market Rates, Financial Times, 9/12/05)
But don’t expect to borrow money for your mortgage at these 3 month Money market rates. You will have to pay a premium for borrowing in an overseas currency. Nevertheless, if interest rates remained as they are now, there will still be significant interest rate savings to be made.
So why are less than 1% of UK domestic mortgages taken out in overseas currencies? The answer: there are extra risks.
Interest rates could buck historical trends and narrow the gap between sterling based rates and the rates for the currency in which the mortgage has been borrowed. This would reduce the interest rate saving and indeed, at some stage, could make the interest rate more expensive than for a standard £sterling mortgage.
But by far the biggest risk lies’ in changes in exchange rates. If you have borrowed in say, Yen, you eventually have to repay the loan in Yen. That would be fine if the Yen/Sterling exchange rates were frozen together - but they aren’t.
If sterling strengthened against the Yen, then you would have to convert less sterling back into yen to repay the loan than the sterling value of the money you initially borrowed. That would be great, an interest rate saving and pay back less than you borrowed. But if sterling fell against the Yen the reverse happens - you end up paying back more capital than you borrowed. So in this context, an overseas mortgage becomes a currency bet that sterling will not fall against the currency you borrowed. In other words you have converted your mortgage and what is probably your biggest personal liability, into a currency speculation. And secured your home against it! You could win but it’s not for the faint at heart!
Another point to be aware of is that you’ll need a deposit of at least 20% for your house purchase in order to qualify for a foreign currency mortgage.
Incidentally, there is now a second option. You can take out a mortgage in £sterling and have the interest rate you pay linked to a foreign interest rate. Whilst you avoid the currency exposure risk, you are still taking gamble that the overseas interest rate plus the interest rate premium you’ll have to pay, will remain lower than the UK’s domestic interest rates. These types of mortgage typically have a 5 year tie in clause. Therefore, you’ll have a hefty penalty to pay if you want to pay it off early, although the mortgage can usually be moved to another property. For some that represents an acceptable risk, especially if the mortgage is linked to the Swiss Franc interest rate which has been astonishingly low and stable over past years. For example, the interest rates in Switzerland have not moved above 1% in the last 4 years and the Eurozone interest rate has not changed in 5 years.
Nevertheless, part of the wording for a regulated investment warning comes to mind ….. past performance should not be construed as a guarantee of future performance ……
You pays your money and you takes your chance.
Michael writes for Brokers Online who offer life insurance quotes and most UK financial services including info on mortgage rates
If you have started searching for a new home, you may have discovered that there are many ways to locate a great home. Word of mouth, an agent, or the newspaper have always been the most traditional ways people find homes. But today, more and more people are finding their dream homes through the use of the internet. It is quickly becoming one of the most popular and effective ways to shop for a home.
There are many ways to search for a home on the internet. You can use many search engines such as msn.com, yahoo.com or google.com just to name a few. You simply input information such as the city you are relocating to, your price range and simple details on what you are looking for in a home. It will bring back a list homes or websites with homes that meet your criteria. After you have narrowed down the list of homes to ones that interest you, you can contact a qualified real estate agent to set up an appointment to view these homes. It will cut down on the hassle of viewing homes that are not suitable for you.
There are also homes that are listed in the newspaper that have links via the website as well. Go to the website of the newspaper for the area you are moving to, and search the classified or homes for sale section of that web page. This will not only give you access to homes that are listed on MLS, but also homes that are for sale by owner. Next you can check sites such as buyowner.com which allow homeowners who are selling a home themselves access to advertising on their site. Homes that are for sale by owner never make it to the MLS (multiple listing service). You can still take a representative with you to view the home. Either you or your real estate agent will need to contact the homeowner first to set up an appointment.
Lastly, many good real estate agents have a link into the MLS directly on a page from their website along with other helpful information to help you choose the area of town that most meets your needs. The MLS search tools are free and easy to use and can be a lot of fun too. Most times all the specific details of the home are listed including a series of photos to help visualize the various aspects of the home. There are many realtor websites out there, so take your time to find a good one. Once you find one that has the information you are looking for, make sure you create a bookmark of the site so that you can easily return to it.
If you are moving and need a new home, check out the World Wide Web. Your new home may be listed now! It’s free and easy.
Bob Lipply is a top Real Estate Broker Associate in the Tampa Bay Real Estate area. He and his team have been helping families relocate to Florida and on the selling end get top dollar for their homes with great success. Lipply Real Estate also specializes in Clearwater Real Estate visit his website where you can search the MLS for up to date available homes for sale.
The nation’s inventory of unsold homes - an important component
of a more balanced housing market in the second half of 2005 -
is growing steadily in many areas of the country even though
buyer demand continues strong, according to the latest
HouseHunt, Inc., quarterly “Current Market Conditions” survey.
The percentage of member real estate agents reporting plentiful
vs. limited supplies increased from 33% in the first quarter to
38% in April, May and June.
Exceptions would be South Florida, Arizona, Southern California
and certain other housing and job growth hot spots.
Market equilibrium would be attained when the present 4.3-month
national housing supply increases to about six months, or about
a 50-50 buyer-seller ratio.
HouseHunt, Inc., is a consumer-oriented Internet firm that
provides valuable free information to homeowners, home buyers
and home sellers. Survey results are based on Current Market
Conditions sales data reported by HouseHunt’s Exclusive Agent
Referral Network (EARN) members in 47 states. Survey results
also included:
* Average national home price appreciation slowed to eight to
10% on an annualized basis in the second quarter as compared to
higher, more substantial double-digit price increases in
12-month comparisons in the past two to three years.
* First-time buyer activity declined from 40% in the first
quarter of this year to 35% in the second quarter even though
mortgage interest rates continued near historic lows and funding
is available and relatively easy to find in interest-only and
other exotic loans.
* Nine of 10 home sellers are getting 95% or more of their
asking prices. Nearly half of those are getting 100% or more. An
overwhelming majority of sellers are still getting multiple
offers.
* Sixty-five percent of listings are selling in 30 days or less.
Michael Bearden, president and CEO of HouseHunt, Inc., welcomes
the near-term probability of a slower-paced, more balanced
housing market: “This would be positive news for consumers,
particularly for first time and other entry level home buyers.
Slower appreciation and a plentiful supply of unsold homes would
certainly energize the entire market in all price ranges. It
would also dissipate fears of a housing bubble price collapse.”
HouseHunt’s two primary websites, www.HouseHunt.com and
www.moveUp.com, offer consumers free information on local
communities, free on-line access to property listings, free
on-line sales data on recent home sales in their neighborhoods,
free electronic property-matching (where available), buying and
selling information, and access to some of the nation’s
top-producing and most knowledgeable real estate agents
regardless of brand affiliation or geographic limitations.
Not Your Typical Vacation Home
What could be more perfect that owning a luxury vacation home at a landmark resort and receiving rent revenue whenever you’re not using it? Condo hotels are the newest trend in vacation home ownership. Live in it when you’re there; rent it when you’re not.
So how do condo hotels differ from owning a traditional vacation apartment or condominium? These are not your typical second homes. They are fabulously-furnished condominium suites in some of the most famous hotels and resorts around the country. The properties are usually large, high-rise, luxury hotels operated by a big name like Four Seasons, Ritz Carlton, Sonesta, Starwood or Hilton. Prices range from $200,000 to over $1 million for prime properties.
Generate Revenue to Defray Mortgage Costs
How do condo hotel owners find renters? This is what makes the program so appealing. When owners are not using their unit, it is put into the rental program of the hotel. By capitalizing on a hotel’s name recognition, advertising, national affiliations, centralized reservation system and management expertise, unit owners typically receive a higher level of rental income than they would from a traditional vacation home. Plus the hotel takes care of dealing with the renters, as well as all housekeeping and maintenance of the condo hotel units. Talk about hassle-free!
The Real Appeal of Condo Hotels Is Appreciation
While it’s nice to receive rental revenue on your vacation home, the more important factor from an investment standpoint is its appreciation. Condo hotel units have been appreciating at a far faster rate than single family homes and condos in the same areas.
Most condo hotels are purchased directly from the developer. With limited inventory, condo hotel units have been moving at lightning speed. In fact, almost all condo hotels sell out in pre-construction, long before even a single spade of dirt has been overturned. And as is the case in any situation where supply is greatly outpaced by demand, condo hotel owners have been seeing tremendous appreciation in their units.
World-Famous Resorts Attract International Attention
Most condo hotels are located in seasonal resort areas. South Florida, particularly Miami Beach and Ft. Lauderdale, is one of the country’s hottest markets with world-famous properties like the Fontainbleau, Canyon Ranch Living and Trump International leading the way. Las Vegas and some of the Caribbean Islands are also popular condo hotel destinations.
Who’s buying? The answer, in a nutshell, is everyone. That is, investors and vacationers who recognize the appreciation potential of a revenue-generating vacation home. That appeal isn’t limited to U.S. buyers. The concept of condo hotels has had international appeal with buyers from Latin America and Europe competing with Americans for the best properties.
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Learn More About Condo Hotels
Condo hotels have tremendous investment appeal in today’s market because of low interest rates and a tumultuous stock market that has investors looking for safer alternatives. Investors who take the condo hotel plunge can enjoy all the amenities of vacationing in a first-class resort while watching their units appreciate exponentially.
For more information on condo hotels including listings of available properties, visit www.condohotelcenter.com.
Joel Greene is the President of Condo Hotel Center located in Miami Florida, which specializes in the sale of condo hotels. Visit his information-packed web site, www.condohotelcenter.com., for more on condo hotels and to see condo hotel listings, photos and prices. You can also sign up for his free Property Alert newsletter to be notified when new properties come on the market.
Many economic forecasters are predicting an increase in foreclosures over the next couple of years. While it’s not likely to be a uniform rise in every market, there are some issues that could create significant opportunities for real estate investors in many markets.
Over the past few years, housing prices in many areas escalated dramatically. To help buyers get into the house they wanted–which was often more than what they could really afford–lenders offered a variety of creative financing packages, including no-down-payment loans, interest-only loans, and adjustable rate mortgages.
With an adjustable rate mortgage (ARM), the initial interest rate is lower than the fixed rate at the time the loan is made, which means lower payments at the beginning of the loan. That low rate will typically apply for one, three, or five years (but any term can be negotiated). At that point, the loan adjusts to a rate according to an index chosen by the lender. In most cases, the adjustment is going to mean a higher interest rate and higher monthly payments.
Three-year ARMS became very popular about three years ago. The first wave of them are going to be adjusting this year and could mean significant increases in monthly payments for hundreds of thousands of homeowners–and many of those homeowners are not going to be able to afford the higher payments.
Here’s a typical situation an ARM borrower may find himself in. If he borrowed $150,000 on a three-year one percent ARM, the monthly principal and interest payment for the first three years of the loan will be $482. But if the rate adjusts to seven percent at the end of the three years, the monthly payment is going to climb to almost $1,000 a month. Most American families are not going to be able to cope with their mortgage payment suddenly doubling.
It’s estimated that $330 billion worth of ARMs will adjust upward in 2006 and $1 trillion will move by the end of 2007. More than 3 million homeowners are going to be facing bigger mortgage payments in the next two years. It’s possible some homeowners will be able to refinance into a loan they can manage, but many will not qualify. And others will just struggle along, gradually getting further and further behind, until the lender initiates foreclosure proceedings.
The opportunities for real estate investors who are trained in foreclosure and pre-foreclosure strategies are significant and growing. These homeowners are going to need someone who knows how to help them get out of a difficult situation with as little damage to their credit rating as possible.
Russ Whitney, chairman and CEO of Whitney Information Network, Inc., is a recognized worldwide leader in the real estate investment and financial training fields. He is the bestselling author of Building Wealth (Simon & Schuster); Millionaire Real Estate Mentor (Dearborn Trade Publishing), and The Millionaire Real Estate Mindset (Doubleday). Russ Whitney has also produced numerous successful investing and personal development training programs on general wealth-building, real estate investing, stock investing, communications, selling skills, credit, and more. For more opinions and comments by Russ Whitney, visit his blog at http://www.russwhitneyblog.com.
