I know your busy but i am running a quick survey find out what you are looking for in the current climate & I would appreciate if you could spare a few minutes to complete it.
As a Bribe you will receive a FREE copy of the best selling ebook "Think & Grow Rich " after you successfully submit you answers.
Click Here to take survey
Thank you
Patricia Ellis
Thursday, 11 December 2008
Wednesday, 10 December 2008
Understanding a Buyers Market
Understanding a buyers’ market
This is fundamental in your ability to make vast amounts of Property cash right now and in certain ‘pockets’ of time in the future. The definition of a buyers’ market is:
‘A market that is more in favour of buyers because there are more sellers than buyers in the market. Buyers control price because of a lack of liquidity and competition.’
Lack of liquidity
Currently lending is a lot more difficult than it used to be. Banks are not lending to each other as easily they are lending at higher rates and there is a lack of trust and confidence between financial institutions.
Therefore most buyers have stopped buying. Fear and uncertainty are paralysing. Most people would rather wait than act. Rabbit in the headlights
Now because of this, a lot of banks aren’t liquid [no cash]; banks that don’t have high street branches and don’t have a lot of cash from savers who deposit cash. Not all banks are like your high street varieties: Barclays, Nationwide, Royal Bank of Scotland, The Halifax and so on who have many high street branches, many savers and depositors, and are very ‘liquid.’
Many of the lenders [mortgage companies] that are relevant for you don’t have high street branches and rely on lending money to you that’s been loaned to them by other banks [with liquidity]. This has really reduced the lending in the market and the statistics back this up. According to the CML [Council of mortgage lenders] lending in the market is down almost 40% on last year.
If the banks are lending to each other, they are at such a high rate that this just gets passed on to the investor and owner occupier.
The statistics and the press also suggest that there are just not many people who can obtain finance:
Sharp increase in Property prices
An additional factor that has implications on people’s ability to buy is the huge surge of growth since 2001 over and above the natural, average growth curve.
Property prices up until 2007 have been very high and because of that your average person, Joe or Jo; your first time buyer or owner-occupier, cannot afford [even if they could get lending] to buy Property. They have been out-priced in the market so that reduces another large percentage of the buying market.
You’re not actually left with that many people after this!
To have a ‘balanced market’ you need to have as many buyers as sellers. But when you’re in a buyers’ market there are more sellers because there are more people who want to get out, liquidate, sell up or cash in [or take a loss to prevent a bigger loss] this time because they’re worried.
But wait a second; there are so few buyers out there who will buy their house. At the moment it’s the same if you’re trying to sell anything. That gives the buyer the advantage and ‘negotiation power.’
The deals & discounts now available are incredible if you are lucky enough to obtain lending or find suitable creative finance in the current climate.
This is fundamental in your ability to make vast amounts of Property cash right now and in certain ‘pockets’ of time in the future. The definition of a buyers’ market is:
‘A market that is more in favour of buyers because there are more sellers than buyers in the market. Buyers control price because of a lack of liquidity and competition.’
Lack of liquidity
Currently lending is a lot more difficult than it used to be. Banks are not lending to each other as easily they are lending at higher rates and there is a lack of trust and confidence between financial institutions.
Therefore most buyers have stopped buying. Fear and uncertainty are paralysing. Most people would rather wait than act. Rabbit in the headlights
Now because of this, a lot of banks aren’t liquid [no cash]; banks that don’t have high street branches and don’t have a lot of cash from savers who deposit cash. Not all banks are like your high street varieties: Barclays, Nationwide, Royal Bank of Scotland, The Halifax and so on who have many high street branches, many savers and depositors, and are very ‘liquid.’
Many of the lenders [mortgage companies] that are relevant for you don’t have high street branches and rely on lending money to you that’s been loaned to them by other banks [with liquidity]. This has really reduced the lending in the market and the statistics back this up. According to the CML [Council of mortgage lenders] lending in the market is down almost 40% on last year.
If the banks are lending to each other, they are at such a high rate that this just gets passed on to the investor and owner occupier.
The statistics and the press also suggest that there are just not many people who can obtain finance:
Sharp increase in Property prices
An additional factor that has implications on people’s ability to buy is the huge surge of growth since 2001 over and above the natural, average growth curve.
Property prices up until 2007 have been very high and because of that your average person, Joe or Jo; your first time buyer or owner-occupier, cannot afford [even if they could get lending] to buy Property. They have been out-priced in the market so that reduces another large percentage of the buying market.
You’re not actually left with that many people after this!
To have a ‘balanced market’ you need to have as many buyers as sellers. But when you’re in a buyers’ market there are more sellers because there are more people who want to get out, liquidate, sell up or cash in [or take a loss to prevent a bigger loss] this time because they’re worried.
But wait a second; there are so few buyers out there who will buy their house. At the moment it’s the same if you’re trying to sell anything. That gives the buyer the advantage and ‘negotiation power.’
The deals & discounts now available are incredible if you are lucky enough to obtain lending or find suitable creative finance in the current climate.
Monday, 1 December 2008
This is Your personal Invitation to the US Foreclosure Seminar to be held on Mon 8th Dec 08 at 7.30 p.m. - 9.00 p.m. GMT
Our US partners will cover in detail the current opportunity which allows you to pay only $32,700 and You Can Own a REO/Foreclosure home with a real established value of up to $57,000 ... You Get a Free & Clear Title... No Mortgage Payments... $400 to $500 per month Positive Cash Flow and up to 75% Walk-In Equity!!! Take Advantage of this Once in a Lifetime Opportunity!
I really hope you can join us demand has been exceptional high because You will probably never see this kind of a Foreclosure market ever again! Immediately after you take title a New Buyer purchases your property with a locked in Profit of up to $24,300! This is a Low Risk Investment, with lots of upside potential! In these turbulent times, it is a safe place to park your money and let it multiply.
Our Very Special Offer for you to end the year if you choose to proceed with a purchase after listening to the seminar is that we will be waiving our £1200 arrangement fee.
You must register prior to the event which is free and easy just click here to receive your Personal Invitation from Onyx World.
If you are looking for Exceptional Returns for a Low Risk Investment . . .
1st Year Cash on Cash Exit Strategy of over 30%! • You are NOT a Landlord. You are the Bank with a Note (Land Contract). • 100% fully managed property. • Passive & Hassle-Free Investment. • Property is guaranteed. • All fees and costs associated with buying and selling the property are included. • Multiple exit strategies. http://www.aweber.com/b/cJDG
Our US partners will cover in detail the current opportunity which allows you to pay only $32,700 and You Can Own a REO/Foreclosure home with a real established value of up to $57,000 ... You Get a Free & Clear Title... No Mortgage Payments... $400 to $500 per month Positive Cash Flow and up to 75% Walk-In Equity!!! Take Advantage of this Once in a Lifetime Opportunity!
I really hope you can join us demand has been exceptional high because You will probably never see this kind of a Foreclosure market ever again! Immediately after you take title a New Buyer purchases your property with a locked in Profit of up to $24,300! This is a Low Risk Investment, with lots of upside potential! In these turbulent times, it is a safe place to park your money and let it multiply.
Our Very Special Offer for you to end the year if you choose to proceed with a purchase after listening to the seminar is that we will be waiving our £1200 arrangement fee.
You must register prior to the event which is free and easy just click here to receive your Personal Invitation from Onyx World.
If you are looking for Exceptional Returns for a Low Risk Investment . . .
1st Year Cash on Cash Exit Strategy of over 30%! • You are NOT a Landlord. You are the Bank with a Note (Land Contract). • 100% fully managed property. • Passive & Hassle-Free Investment. • Property is guaranteed. • All fees and costs associated with buying and selling the property are included. • Multiple exit strategies. http://www.aweber.com/b/cJDG
Thursday, 6 November 2008
High Profit and Income from USA Foreclosures
When a property is repossessed (foreclosed) by the lender, it is known as Real Estate Owned (REO). Lenders (mainly banks) then sell it off for whatever they can get for it. The properties we are dealing with are REO properties situated in the mid-West of the United States.
Through contacts in the USA, we have been able to secure a continuing flow of such properties, available to buy at $32,700 each. This price includes all the legal fees and closing costs.
For every 100 properties our contacts inspect, they accept only 5-10 into this programme.
It is an important feature of the programme that every property should be of a good standard so you can receive 12 months ' warranty and various other guarantees which are in the brochure. Download it Here
When you decide to buy one of these properties, and transfer you purchase funds to the escrow agent, you will be allocated a particular home which is fresh onto the availability list.
Because of the speed with which they are processed and the enormous discount to market value being achieved, you cannot unfortunately select a specific unit.
These homes are being sold in massive numbers at bargain prices and are covered buy guarantees, to give you peace of mind.
A typical property in this programme, available now at $32,700 will have a current market value of $55,000 to $90,000 and have sold in the past, before the credit crunch, for $60,000 to $120,000.
Through contacts in the USA, we have been able to secure a continuing flow of such properties, available to buy at $32,700 each. This price includes all the legal fees and closing costs.
For every 100 properties our contacts inspect, they accept only 5-10 into this programme.
It is an important feature of the programme that every property should be of a good standard so you can receive 12 months ' warranty and various other guarantees which are in the brochure. Download it Here
When you decide to buy one of these properties, and transfer you purchase funds to the escrow agent, you will be allocated a particular home which is fresh onto the availability list.
Because of the speed with which they are processed and the enormous discount to market value being achieved, you cannot unfortunately select a specific unit.
These homes are being sold in massive numbers at bargain prices and are covered buy guarantees, to give you peace of mind.
A typical property in this programme, available now at $32,700 will have a current market value of $55,000 to $90,000 and have sold in the past, before the credit crunch, for $60,000 to $120,000.
Tuesday, 23 September 2008
6 R's for Successful Overseas Property Investing
Reason
Clarify the reason why you are choosing your overseas property.Decide if your investment is for Lifestyle Choice, Buy to Let,Retirement or Relocation.
Research
Factor in all the figures for a property purchase, the legals,mortgage & running costs. Find out how the rental seasonworks for additional income if required & the costs associatedwith the managing agent. What are the laws on foreign ownership,inheritance & tax?
Reputation
Work with companies that have a good track record & if buying off plan use an established developer that will deliver on timeand provide Building Guarantees & licenses. Good PropertyAgents often negotiate good discounts & incentives which arenot always available from buying direct.
Request
Gain as much information about Country/Area /Development as possible to get your questions answered. Subscribe tonewsletters & property alerts to be kept informed .Remember not all Property Deals get advertised on the Websites.
Reassurance
Inspect the property or plot to confirm if it really meets your needs.On a viewing trip you will discover if the local facilities and amenitiesare sufficient for your buying purposes.
Reserve
Only when you are satisfied with the above steps you can proceed with your overseas property purchase. Always use a local solicitor to assistyou with your purchase. Remember legal documents will be provided to you in the language of your chosen country which will need to be translated...
Research
Factor in all the figures for a property purchase, the legals,mortgage & running costs. Find out how the rental seasonworks for additional income if required & the costs associatedwith the managing agent. What are the laws on foreign ownership,inheritance & tax?
Reputation
Work with companies that have a good track record & if buying off plan use an established developer that will deliver on timeand provide Building Guarantees & licenses. Good PropertyAgents often negotiate good discounts & incentives which arenot always available from buying direct.
Request
Gain as much information about Country/Area /Development as possible to get your questions answered. Subscribe tonewsletters & property alerts to be kept informed .Remember not all Property Deals get advertised on the Websites.
Reassurance
Inspect the property or plot to confirm if it really meets your needs.On a viewing trip you will discover if the local facilities and amenitiesare sufficient for your buying purposes.
Reserve
Only when you are satisfied with the above steps you can proceed with your overseas property purchase. Always use a local solicitor to assistyou with your purchase. Remember legal documents will be provided to you in the language of your chosen country which will need to be translated...
Thursday, 18 September 2008
10 reasons to invest in Turkey
1. Strong, fast-growing national economy with very low cost of living
2. Rated among the top 5 destinations for property investment by the television programme "Where on Earth?"
3. Mortgages now available to Turkish and foreign investors
4. Foreigners and foreign companies now permitted to own property in Turkey
5. Tourist season now extended to 12 months a year with the advent of golf course developments and low cost airlines
6. Tourism increasing yearly, with currently (2007) 20 million visitors each year and a 2008 target of 25 million. A large part of this is the result of the government's £73 million marketing programme titled 'Four Seasons, 12 months'.
7. Negotiating for accession to the European Union
8. Although Turkish is the official language, English and German are widely spoken
9. Massive housing shortage which restricts supply against a constantly increasing demand
10. Property price growth is very high and, even more importantly, explainable therefore sustainable. Prices are still 30-40% below Bulgaria and Romania and have still therefore a long way to go.
Find Out More http://www.onyxworld.co.uk/country/Turkish_Investment_Properties_-_Akbuk_and_Istanbul
2. Rated among the top 5 destinations for property investment by the television programme "Where on Earth?"
3. Mortgages now available to Turkish and foreign investors
4. Foreigners and foreign companies now permitted to own property in Turkey
5. Tourist season now extended to 12 months a year with the advent of golf course developments and low cost airlines
6. Tourism increasing yearly, with currently (2007) 20 million visitors each year and a 2008 target of 25 million. A large part of this is the result of the government's £73 million marketing programme titled 'Four Seasons, 12 months'.
7. Negotiating for accession to the European Union
8. Although Turkish is the official language, English and German are widely spoken
9. Massive housing shortage which restricts supply against a constantly increasing demand
10. Property price growth is very high and, even more importantly, explainable therefore sustainable. Prices are still 30-40% below Bulgaria and Romania and have still therefore a long way to go.
Find Out More http://www.onyxworld.co.uk/country/Turkish_Investment_Properties_-_Akbuk_and_Istanbul
Tuesday, 8 July 2008
My Tips on Purchasing Caribbean Property
I thought it would be good to get feedback for those investing overseas. I have purchased in The Marquis In St Lucia but my tips would apply equally to any other investment in any development in the Caribbean or elsewhere:
- never be rushed into making an investment. Many companies and agents will suggest buying quickly due to imminent price rises and units selling fast. Do not succumb to this sales patter, it is likely to be just that - particularly in the current market where the credit crunch is making it difficult for UK investors to raise funds to invest overseas.
- check the status of the investment's planning. Does it have full planning permission? If it does not, how long will it be before the planning permission is received?
- if the development does not have full planning permission insist on only making a minimal 'reservation' deposit and pay the rest of the deposit once full planning permission is obtained.
- if the agent/developer wants a full deposit, insist it is held in a UK solicitor's client account until full planning permission is granted.
- check the accuracy of any statements made by the agent/developer. If the properties are being sold at a supposed discount to market value ask them to prove this by reference to existing comparable properties (not just their own price lists).
- check what you are getting. Ideally visit the development and see what is going on, but if you cannot do so, get a full specification of what you are getting for your money. What view does it have? Is the view unobstructed? what is the building quality? What is the quality of fixtures and fittings? What amenities will there be and who will be the operator? etc.
- ask for a cash flow forecast showing when you will have to make the payments to the developer.
- find out what your obligations will be once you own the property - is there a sinking fund? How much is your contribution? How much will management charges be? What other costs will you incur?
- If there is a rental guarantee, bear in mind that this is built into the price you are paying for your unit - developers do not give away profit! Check whether the rental guarantee will be enough to cover your outgoings.
- If the agent/developer is offering what seem to be attractive finance options and minimal deposits, bear in mind that currently no Caribbean bank I'm aware of would lend more than 70% of the property value and they will not allow a mortgage to be drawn down until the property is completed. This means either the developer will be funding the balance (and charging you interest) or you will have to borrow the deposit from other sources. Some developers offer to pay your instalments until completion, but bear in mind that there will be a cost to this and this cost will escalate if completion is delayed.
- If the developer is overseas do not part with any money until you are happy that it is being protected e.g. held on a solicitor's client account and will only be paid to the developer once the project has got full planning permission and is about to commence. Only make subsequent payments on progress certificates issued by a competent architect.
- get a solicitor experienced with overseas property purchases to review the documents and explain the risks involved.
- bear in mind that there could be currency exchange risks - the investment could cost you more if sterling goes down in value and you are paying stage payments or mortgage payments.
- check the tax position on rental income and capital gains in the country you are investing. Also, check if there are any annual 'wealth', 'asset' or 'property' taxes payable. Remember that if you are resident in the UK you will almost certainly be subject to UK taxes on overseas property income and gains - make sure you can deduct the taxes paid overseas against the UK income and capital gains tax liabilities. Also, you may be enticed by countries offering 'zero' tax, but you will still normally pay tax in the UK on any income/gains.
- never be rushed into making an investment. Many companies and agents will suggest buying quickly due to imminent price rises and units selling fast. Do not succumb to this sales patter, it is likely to be just that - particularly in the current market where the credit crunch is making it difficult for UK investors to raise funds to invest overseas.
- check the status of the investment's planning. Does it have full planning permission? If it does not, how long will it be before the planning permission is received?
- if the development does not have full planning permission insist on only making a minimal 'reservation' deposit and pay the rest of the deposit once full planning permission is obtained.
- if the agent/developer wants a full deposit, insist it is held in a UK solicitor's client account until full planning permission is granted.
- check the accuracy of any statements made by the agent/developer. If the properties are being sold at a supposed discount to market value ask them to prove this by reference to existing comparable properties (not just their own price lists).
- check what you are getting. Ideally visit the development and see what is going on, but if you cannot do so, get a full specification of what you are getting for your money. What view does it have? Is the view unobstructed? what is the building quality? What is the quality of fixtures and fittings? What amenities will there be and who will be the operator? etc.
- ask for a cash flow forecast showing when you will have to make the payments to the developer.
- find out what your obligations will be once you own the property - is there a sinking fund? How much is your contribution? How much will management charges be? What other costs will you incur?
- If there is a rental guarantee, bear in mind that this is built into the price you are paying for your unit - developers do not give away profit! Check whether the rental guarantee will be enough to cover your outgoings.
- If the agent/developer is offering what seem to be attractive finance options and minimal deposits, bear in mind that currently no Caribbean bank I'm aware of would lend more than 70% of the property value and they will not allow a mortgage to be drawn down until the property is completed. This means either the developer will be funding the balance (and charging you interest) or you will have to borrow the deposit from other sources. Some developers offer to pay your instalments until completion, but bear in mind that there will be a cost to this and this cost will escalate if completion is delayed.
- If the developer is overseas do not part with any money until you are happy that it is being protected e.g. held on a solicitor's client account and will only be paid to the developer once the project has got full planning permission and is about to commence. Only make subsequent payments on progress certificates issued by a competent architect.
- get a solicitor experienced with overseas property purchases to review the documents and explain the risks involved.
- bear in mind that there could be currency exchange risks - the investment could cost you more if sterling goes down in value and you are paying stage payments or mortgage payments.
- check the tax position on rental income and capital gains in the country you are investing. Also, check if there are any annual 'wealth', 'asset' or 'property' taxes payable. Remember that if you are resident in the UK you will almost certainly be subject to UK taxes on overseas property income and gains - make sure you can deduct the taxes paid overseas against the UK income and capital gains tax liabilities. Also, you may be enticed by countries offering 'zero' tax, but you will still normally pay tax in the UK on any income/gains.
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