Archive for category Real Estate
Property in Abruzzo After the Quake
Posted by Simone Rossi in Real Estate on 03/09/2010
The popularity and the interest for properties in Abruzzo was in rise and had been like that for a few years thanks to a good promotion abroad done by the Region Administration and by several Britons who decided to invest in there, attracted by fairly low prices and beautiful scenarios. But then the earthquake of April 09 drastically changed everything.
The tremendous quake and the huge amount of damaged that it caused has been seen by millions of people, an interest hugely amplified by the G8 as media from all over the world followed big personalities walk through rubbles and promise to sponsor the reconstruction of this monument or that church. But if the media did good giving great visibility to Abruzzo, on the other hand gave the impression that the region had been completely destroyed, instead of highlighting the fact that the quake was localized in the city of L’Aquila and its surround towns. This pushed tourists and property buyers away from Abruzzo, who diverted their interest to the bordering region of Le Marche and to other parts of Italy. This has caused to Abruzzo’s economy a bigger damage than the quake itself.
Although less than expected, also Abruzzo property market has been affected by all this factors, bringing down the number of enquiries by 19% throughout the eight months right after the earthquake. The decrease was steeper during the first four month to rise up a little in the last four month of 2009.
The return of interest in the last months of the year gives a wave of optimism and hopes that property in Abruzzo will weather the storm and will come up again in 2010. This optimistic scenario is backed by the fact that the number of enquiries sent for Abruzzo properties in January 09 are 42% up compared to January of the previous year.
The most interested are Americans and British, accounting for the 39% of the enquiries, but a big interest comes also from Germany, Belgium, Netherlands, Sweden and France (all together share the 42% of the requests). Mainly the requests are for restored properties or in habitable conditions (61%), with 2 bedrooms (44.9%), with an average price of €159,850.
For all the ones that are interested in restoration projects Abruzzo is the right place to look at, both for the big availability of properties in need of restoration and the nice style that properties have in this area, giving the new owner the chance to end up with a very beautiful and worthy piece of real estate but also let’s not forget a very important fact, that property prices in Abruzzo are still lower than the Italian average.
The price of a country house to be restored of about 100 square metres is around €80/100,000 although is quite easy to find much better deals if one looks thoroughly. On the site Gate-away.com are listed country houses of that size in Abruzzo with price starting from as little as €50,000, even less for something smaller.
Abruzzo interests investors not only for its prices but also for its high mountains (the highest in central Italy) with beautiful ski resorts along with a stunning coastline. The average price for a cozy 1 bedroom apartment by the sea is around €100/120,000, which can be perfect to be rented out as a holiday rental. To give an idea of the income that such investment can generate, the rental rate for this type of apartment (depending on the distance form the sea) can go from €200/300 per week during the low season to €1000/1200 per week during the high season. The rental season can go from May to October although the weather can be very good also in April and November.
What impresses Abruzzo’s visitors is the genuine approach that this land gives, from the people to the food, very tasty and at a very good price. The nature is stunning as Abruzzo hosts a big number of natural parks and offers a wilderness that has not equals in Europe.
Abruzzo is such a beautiful region that if you decide to buy a property there you’ll hardly regret it.
The author is the expert of properties in Abruzzo and homes for sale in Le Marche for the leading Italian property portal Gate-away.com
Is Hiring a Property Management Service Worth the Cost?
Posted by Jason Kay in Real Estate on 03/08/2010
How much income do you generate with your own apartment business nowadays? Is it enough to cover how much you’ve spent in bills every month out of the lacking tenants your building suffers? It may be time you hired a property management service to handle things for you. A landlord/landlady is subjected to being at the beck and call of their tenants every minute of their day but with hiring a property management service, they can finally breathe and have their business pick up for a meager commission rate of 8-10 percent on the gross monthly rent with leasing fees.
Is hiring a property management service worth the cost? Yes it is. Property management services help with the advertising of your apartments, the screening of interested tenants, filing of evictions, hiring of contractors and so on. They literally manage your property as liaisons between you- the landlord and your tenants. All procedures that deal with your business is passed through you by the property management service to be approved or disapproved according to what you wish to do with your property. They store monthly reports that they submit to you every end of the month that shows the breakdown of revenues, expenses used and deductions made during that month that shows if they had relied on the escrow account you issued them to use in case of emergency.
An escrow account is a fail-safe account given to the property management service to rely on in case of emergencies that need high expenses to cover any damage, be it a tenants unit or something to do with the maintenance of the property. You would usually place about 500-1000 dollars every month and the good part is it is refunded to you by the end of the month if not used during that month by the property management service in any repairs. Contracting projects that need a lot of money to get the plans started with are always passed through to you: the landlord, to accept or disagree as you can veto the decision. The property management service usually issues a 1099 form to you for tax purposes.
Hiring a management service also maximizes time for you to reassess your other businesses or even open up new ones while they handle your property, receiving their 8-10% commission, making your business bloom as they advertise and handle the tenants while you buy yet another piece of property and spread your monopoly. If a property management service operated your business that is your building then you have no worries as you would have less vacant apartment units and wouldn’t suffer shortage of income come the end of the month. The property management service also handled enforcing leases and agreements making them the most complete functional management service availed to handling your properties efficiently.
There are other additional services the property management service handles that cater to the owner’s needs than the just the property like transport service, restocking of house supplies, arranging of appointments of the owner and even event organizing. Hiring a property management service is worth the cost due to the benefits that it gives you-the Landlord, a peace of mind, some time to relax and enjoy the profit you’ve had no time to enjoy before.
Compare property management companies by reading independent property management reviews given by landlords and tenants.
Renting A House Safely Today? How To Check Out Your New Landlord So You Don’t End Up Out On The Curb! (Third In A Series)
Posted by George Beardsley in Real Estate on 03/08/2010
In the first article in this series we covered how to find out if the owner of the home you are about to rent was in foreclosure and some tricks to use to see if foreclosure might be coming soon, but was not yet filed. And the differences between humans and legal entities owning the rental property.
Today we are going to look at how to get more insight on whoever it is that owns the home we are about to rent.
While checking the court records to see if the Lis Pendens has been filed, you will also want to see the other legal actions your landlord has been involved in. As mentioned in Article 2, if he is being sued by a lender for money not repaid, although not involving real property, action against his real property (real estate) may follow.
The court records will also show, divorces past and present, the actions he takes to collect money from previous tenants who did not pay and how active he is in legal actions. Good stuff to know.
Public records may give you an idea of how many properties he (or she) owns. Lots of properties owned with no or little legal action against her (or him) could well indicate a ship sailing smoothly on what are choppy waters for many others and the likelihood of staying in the house for a long time with little chance of being kicked out because the landlord failed to pay.
Easy and cheap way to further your investigation. Google the landlord. You may be amazed at the background information you will get here. Also go to the website of the local newspaper and scan the archives for articles that mention him.
Putting his name in quotations will limit the number of entries that are not about her. Putting geographic limiters like the name of your city and state will also limit bad hits. However, try the search with and without geographic filters to see what you find.
Eliminating geographic limitations may show previous interests and outside activity for the landlord. Eliminating geography limitations for me will show that I have written a book about renting houses and have written a number of articles on the subject. Reading them might make you decide you would like to be on my VIP Alert List for upcoming houses that we will have available, or that you wanted to look elsewhere. But at least you would be making the decision with added information.
This will give you an idea of what else he is up to and somebackground. To keep up to date, as time passes, use “Google alerts.” Once at the Google home page put the word “alert” in the search box.
Select the application and enter your email address and the name of the landlord. Put quotes around her/his/its(company) name to reduce the wrong searches you will receive and add a word of local geography. ” ‘George Beardsley’ Pasco, Pinellas, Tampa By,” for example. This will send you a report every day on the name of your landlord as new events happen. Some of them will be about him and give you an advance indication of upcoming events.
If you find that there are several other persons in the same area with the same name you can use the minus symbol to eliminate repeated reports on the wrong person. In my area there is a famous golfer who is also named George Beardsley. So, if I were checking up on me I would enter “George Beardsley” – golf.
That would reduce, but not eliminate, searches that were not me. You can custom the alert after doing a little experimentation when you first check the landlord out on Google.
Of course there are more heavy duty ways of doing this, also on the web. There are a number of investigation companies that will perform background investigations for a price, usually starting about $40 and then going way up. I wouldn’t spend the money unless I had found some disturbing information from the free searches of had a feeling that all was not right.
Frankly, if the Google search, public records or the local newspaper had items that were disturbing, I would not check further, I would just look for a new landlord. One of the most disturbing things you may suspect is that that person does not own the house they are trying to rent. And we will tell you how to avoid that kind of “landlord” in the next installment.
George Beardsley has written extensively about business as a reporter for Chicago Tribune, an editor for the financial publishing firm Dow-Jones, Irwin, and has published an ebook at http://www.911forlandlords.com on renting houses faster. He has been a Florida Landlord for the last two decades
Calhoun GA – Homes For Sale
Posted by Steve Goodman in Real Estate on 03/07/2010
Calhoun is a quickly growing community in beautiful northwest Georgia. Its mix of country atmosphere with modern conveniences makes Calhoun a great place to settle down. Located nearly equal distances from Chattanooga and Atlanta, Calhoun is fast becoming the place to be for business people who find themselves traveling to both cities frequently. There are still many new and previously lived-in homes for sale in Calhoun, GA.
The unique beauty of Calhoun is owed to its placement along the Oostanaula River and its pristine country farm lands located just outside of town. John’s Mountain is also a short drive away in Sugar Valley and features camping, picnic areas, and historic hiking trails.
Calhoun is also a hotbed of history. It contains New Echota, which was the capital of the Cherokee Nation. New Echota is still maintained today and provides visitors with a wonderful educational experience. Sequoyah, inventor of the Cherokee Syllabary, was a native of New Echota. Another notable resident is Roland Hayes. Hayes is regarded as the first African American male concert artist to achieve international fame. The Roland Hayes Museum in Calhoun honors him today. Also of note is historic downtown Calhoun. This shopping district is located downtown by the courthouse and is homes to several businesses and the restored GEM theatre.
If you like shopping then Calhoun has you covered. There is a large outlet center located just off I-75 which contains stores like Old Navy, Nike, and Tommy Hilfiger. There are also countless locally owned businesses located in Calhoun selling everything from outdoors equipment to sports memorabilia. If you need it, you can probably find it in Calhoun. Since Calhoun is located within driving distance to so many other larger cities, you get all the benefits of living in a big town with none of the drawbacks.
When you’re done shopping it’ll be time for some lunch! Calhoun has tons of choices when it comes to food. If you want something quick you can head over to Highway 53 where you will find many choices of popular chain restaurants and fast food places. If you really want a taste of local flavor you should check out Dub’s High On The Hog BBQ near historic downtown Calhoun. You won’t find better barbecue anywhere.
Because of its natural landscape and open spaces there are lots of outdoor activities available to residents of Calhoun. Many active recreation leagues organize sports for every season. Soccer, football, baseball – Calhoun even has its own motocross track and multiple golf courses. And if you’re an outdoorsman you can take advantage of the many great fishing and hunting areas around town. There’s never an excuse to be stuck inside when you live in Calhoun.
If you’re thinking of moving to Calhoun then you have picked a great time to do so. The city is as vibrant as ever and is ready to accommodate new residents. Whether you want quiet country living or a downtown home close to the action there are many homes and lots available in prime locations. Come on by and stay a while.
Steve Goodman is a writer and a resident of Calhoun. For more information about Calhoun and Northwest Georgia check out Calhoun GA Homes For Sale
What to Know Before Hiring a Residential Property Management Company
Posted by Jason Kay in Real Estate on 03/07/2010
Owning residential property can be a great investment especially if you are renting you’re the property on a monthly basis and thus realizing a nice monthly income for yourself, but just because you own the property doesn’t necessarily mean that you want to be a landlord and this is where a residential property management company can come in. It may not even be a matter of you wanting to be involved with the day to day of the residential property or not, but you may live out of state and thus have no other viable option than to seek help managing your property.
Because there are a number of residential property management companies to choose from it is important to know the answers to a few questions before you hire a company to manage your residential property for you. Here are some good things to know before you give a company your hard earned money:
- How Involved Will They Be: Before you decide whether or not to give the residential property management company that you are considering any money, be sure that they will cover everything you will want done. This can include but is not limit to negotiating the lease, signing the lease, being sure general maintenance is done to the property, accepting rent, dealing with tenants concerns, and basically aided you in whatever way necessary.
- How Will They Charge You: Some residential property management companies will charge you a flat rate per month and others will charge you a certain percentage of the rent. You will want to find this out before hand as one way may offer you a savings over the other.
- Do They Require a Contract: Another question to ask is about the length of a contract. Many residential property management companies will require that you sign a year’s contract and this can be fine unless you find that you are not happy with their services. Ask first if they have a contract that they require to have signed and if there is a clause in the contract that will allow you to void the remainder of the contract if you are not satisfied with the service.
-Are They Licensed and Experienced: While many residential property management companies are run out of a real estate office some are run as a standalone service. This is not to say that one is better that the other, but you need to know the extent of their experience and you also need to be sure that they have any necessary licenses in order to stay legal. The licensing may vary from state to state so you will need to check with the state that your property is located in order to determine what kind of licensing you should be asking the company about.
- How Will They Communicate: You want to work with a residential property management company that will be easily accessible to address any concerns you have quickly and to be sure that you are brought up to speed with any possible problems with the property quickly as well. Therefore you will want a company that offers you phone numbers, e-mails, and any other form of communication that you will require to stay in constant contact with them.
Remember, the residential property management company that you hire will be a representation of you. In order to be sure that the rental process goes along as smoothly as possible you will need to be sure that you do your homework and go with the best qualified and most experienced residential property management company that you can find.
Compare property management companies by reading independent property management reviews given by landlords and tenants.
Ethical Property Management For FIFA 2010 World Cup
Posted by Alek Jones in Real Estate on 03/07/2010
Property management companies are raising property prices drastically to cater to the high demand of rentals during the FIFA World Cup games this year, in an attempt to take advantage of the huge number of tourists set to enter South Africa during this time. While there is no doubt that the FIFA World Cup will be of huge benefit to the South Africa economy as a whole, not all property companies agree that price hikes are good for the tourism industry.
Tarleys Trust Property Group advises property agents and management companies against raising prices, and encourages property companies to instead consider the disadvantages that extreme price hikes could have on a long-term scale. Many companies are solely focused on profits, and see the FIFA World Cup as a potential to make increased sales and rentals. A large majority of tourists will be entering South Africa for the first time however, and excessive prices could prevent many from considering rentals and sales on return visits. The price increases also affects locals, as increased prices on any level brings the overall value and market prices up significantly, causing price increases across the board, for locals and tourists alike. Commercial property rentals and residential rentals both stand to be affected by price hikes, which could have a huge effect on property prices in general if prices are raised drastically during the months from April to July.
Another aspect that property companies need to consider is the over-saturation of short-term rentals in the build up to the World Cup events. The anticipated demand for rentals has led to huge numbers of guesthouses, apartments, houses, villas and other property available for rent, which more than adequately meet the demands for accommodation – especially with a huge increase in property renovation this year. Landlords are seeing the chance to provide expensive but convenient property for tourists, however with the large number of property options to consider, tourists have more choice. This in turn may force many property management companies to push prices down to bring in more chance of their properties being rented out. Experts are predicting that long-term rentals will be in higher demand, and as many landlords are choosing short-term tourist rentals over long-term, this is yet another factor that could affect property rental prices during 2010.
The improved property industry growth has led to many agents and landlords taking advantage of positive property price growth, increased application volumes, increased approvals, further expected relaxation of bank lending criteria, and increased competitiveness amongst lenders. Price increases are widespread to get the benefit from these factors, however on a long-term scale; price increases may not offer a sustainable solution, especially with a slow and gradual recovery from a recession that has left a lasting mark on global economies.
The positive side of the 2010 World Cup is that the event is set to have a huge impact on the residential property market, showcasing the wide diversity of excellent properties across South Africa. With reasonable prices, the lure of South African property could be even greater, advises Tarleys Trust Property Group MD Bradley Berman. Whether it is property sales or residential rentals, all eyes will be on South Africa’s property market over the next few months, which is why property companies and landlords should ensure ethical property management as a way to ensure that tourists return to South Africa year after year to invest in property.
Tarleys Trust Property Group (Pty) Ltd is an independent property management company which focuses on adding value to clients’ property assets.
Exploring Atlanta’s Most Popular Sites
Posted by Tina Fountain in Real Estate on 03/06/2010
As if there weren’t enough reasons to lay down roots in Atlanta: Consider all of the world-class sites which entertain, amaze and educate million of visitors and residents alike each year:
Piedmont Park
Piedmont Park is the epitome of the ultimate, urban park. One hundred eighty-five acres of green space, dotted with playgrounds and baseball fields, along with a picturesque lake, has provided residents and visitors alike with a respite from the city since 1909. Originally the scene of the Gentleman’s Driving Club in the late 19th century, Piedmont Park has a long history in Atlanta.
Frederick L. Olmsted was an influential landscape designer who was first involved in the area in 1895, when it was used as the site of the Cotton States and International Exposition fair. It was then sold to the city of Atlanta in 1904. At that point, the city removed the exposition buildings and, under the watchful eye of the Olmsted Brothers architectural firm, began to evolve the park into what is seen by millions of visitors each year.
The Olmsted Brothers incorporated the then-existing stone stairways and handsome, stone urns to create transitions between the different areas of the park. Much of the landscapes and vistas of that time remain today, offering residents and visitors a truly beautiful area in which to relax, picnic or participate in outdoor activities.
Martin Luther King Jr. Historical Site
A trip to Atlanta is never complete without first visiting the Martin Luther King, Jr. National Historic Site. This area, which includes a visitor center and is administered by the National Park Service, includes King’s birth home, his church and his grave. Set along several blocks in downtown Atlanta, the Historical Site pays tribute to one of the nation’s most prominent leaders of the twentieth century.
Part of the site includes the Ebenezer Baptist Church where King once served as pastor, his childhood home on Auburn Avenue and the Martin Luther King, Jr. Center for Nonviolent Social Change, Inc., which today continues King’s legacy and work.
A memorial park was erected in 1976 to honor King, which includes his marble crypt, an arch-covered walkway, a chapel and a reflecting pool.
Centennial Olympic Park
In 1996, Atlanta served as host for the Centennial Olympic Games. It was at that time that the city took a run-down park and transformed it into a beautiful gathering spot where recreation is enjoyed and where community events are held each year.
The estimated $75 million project was accomplished through private sector donations alone. The State of Georgia oversaw the park’s development and assumed ownership after the Olympic Games.
This grand park of 21 acres serves not only as Georgia’s lasting legacy to the Centennial Olympic Games, but as a showpiece for the revitalization movement in Atlanta.
The Park sponsors community-wide free events, including the Fourth of July Celebration, Wednesday Wind Down concert series and Fourth Saturday Family Fun Days. The park also hosts festivals, fundraisers and private events. An estimated three million people visit this area each year.
Georgia Aquarium
Billed as the “world’s largest aquarium,” the Georgia Aquarium contains a staggering 8.1 million gallons of marine and fresh water and more than 100,000 animals.
The aquarium was originally built on a 20-acre patch of land in downtown Atlanta in 2005, north of Centennial Olympic Park. The largest donation to the aquarium came from Home Depot founder Bernie Marcus, in the form of $250 million.
The Georgia Aquarium is one of only two aquariums in the US to house a Great Hammerhead Shark and was only one of a handful of aquariums to house five, 11-foot beluga whales.
The aquarium’s five different galleries include the Georgia Explorer, Tropical Diver, Ocean Voyager, Cold- Water Quest, and River Scout, with each corresponding to a specific environment.
The Georgia Aquarium, in addition to serving as a one-of-a-kind aquarium, is also devoted to conservation and environmental missions.
Tina Fountain Realtors, an Atlanta Real Estate company serving the entire metro Atlanta area including Marietta Real Estate and Cobb County Real Estate.
Housing Market Forecast: The Hansberry Influence on Black Homeownership
Posted by Meta J. Mereday in Real Estate on 03/06/2010
With the full impact of the housing crisis still in the forefront for Blacks, who have been systematically discriminated against in the housing market, the historical connections of the illustrious Hansberry family illustrates just how long Blacks have struggled and identifies earlier problems that could have been avoided.
We know about the short, yet brilliant career of poet and playwright Lorraine Hansberry whose became a major literary figure when her first play, A Raisin in the Sun, opened on Broadway to critical acclaim and won Hansberry the 1959 New York Drama Critics Circle Award. At the age of 28, she had a Broadway hit and was the first Black and youngest person to win the coveted prize.
Regarding the housing market forecast, Hansberry had front line access to the material that she used to develop the classic play as the daughter of Carl and Nannie Hansberry, who had traveled north to reside in Chicago. He made a living setting up apartments for other Black families in the area.
Carl Hansberry moved into an all-White community to challenge the restrictive real estate covenants that kept Blacks and other non-Whites from moving into certain neighborhoods. These covenants were contractual agreements that were made among property owners designed to prohibit the purchase or occupation of their homes or premises by specific groups, usually Blacks. The rise in the usage of these covenants, especially in Chicago but practiced in some form in many northern cities, occurred as more Blacks moved north for better housing market forecast opportunities.
Despite the fact that the Supreme Court ruled against these practices as early as 1917, in less than nine years the high court dismissed the Corrigan v. Buckley decision, thus giving tacit approval to this racially restrictive practice that largely kept Blacks in substandard, overcrowded housing units.
This is the environment that Carl Hansberry, an Alcorn State University graduate, found himself and he decided to challenge the practice and improve the living environment for his family and the housing market forecast for other aspiring Black families seeking life in the suburbs of Chicago. He won a narrow victory in the Supreme Court against racially restrictive covenants in Lee v. Hansberry (1940).
Unfortunately, his case did not set precedent on the issue to generate much in the way of change. According to the Encyclopedia of Chicago, the precedent setting case that would begin the process of eliminating racially, restrictive covenants occurred when the Supreme Court finally declared restrictive covenants unenforceable in Shelley v. Kraemer (1948). At this point, the decision was more of a legal afterthought to a practice that was slowing losing ground as more Blacks were acquiring the same property previously restricted due to the post World War II housing boom.
However, the impact of the activism of Hansberry’s parents formed the core of her life work and that struggle. A Raisin in the Sun told the story of an apartment dwelling Black family, who represented the families who lived in her father’s properties, who had a chance to move to the suburbs and were being discreetly thwarted by the property owners. She used the artistic medium to tell more than a story, but to highlight a societal wrong and provide hope for Blacks who just wanted the opportunity to share in the American dream.
Many Blacks in pursuit of a better housing market forecast are still victims of covenants and other restrictive policies that limit their options. Others are victim of predatory lenders and overzealous brokers who manipulate the system and bilk thousands of hard-earned dollars from those who can least afford it often leaving the buyer without the money or a new home.
While the half century that has passed since the debut of A Raisin in the Sun has generated some positive changes for Blacks in the housing market forecast, there is still a long way to go before all who call this country their home can afford to live in one.
Meta J. Mereday is a writer for ; Regal Black Mens Magazine The publication focuses on ; African American Community News Politics Sports Health The magazine features a ; Local Online Classifieds & Job Classified Black Business Directory Visit to read about ; housing market forecast