Tag Archives: Property/Assets/Rights

Apartment starts surge; new home permits down 3% in 2014

Posted on by

“Builders ramped up construction in April, but they were mostly building multifamily apartment buildings. A monthly report from the U.S. Census Bureau showed total housing starts up 13 percent month to month, but that was driven by a 43 percent monthly jump in buildings with five or more units. Single-family housing starts rose just under 1 percent for the month.  Building permits, which are a better gauge of future construction activity, bode poorly for single-family homes. Those permits are down more than 3 percent from a year ago. This shows builders do not expect demand for single-family homes to strengthen any time soon.”

http://www.cnbc.com/id/101680005

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Sky’s the limit: New towers targeting rich Asians soar in New York

Posted on by

“These mansion-size apartments with 30-mile views will go unoccupied much or most of the time. These towers are shaped by their clientele: a transnational nouveau riche looking for a second (or third or fourth) home. Having made fortunes in nations less regulated economically and less stable politically than the USA, these buyers want a safe investment as much as, or more than, shelter.  Could this boom be a bubble? Richard Wallgren, 432 Park’s marketing director, says that it’s hard to overbuild in Manhattan.  One57 says that more than half of its buyers come from outside the USA, including 15% from China.  One57 will receive tens of millions in tax breaks to encourage construction.”

http://www.usatoday.com/story/news/nation/2013/12/12/new-york-high-rise-boom/4005289/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Developers Turn Former Office Buildings Into High-End Apartments

Posted on by

“A major realignment [is] taking place in cities across the U.S. as landlords repurpose their buildings from spaces where people work to spaces where they sleep. In the process, the traditional economic relationship between residential and commercial real estate is turning upside down.  At the end of 2013, the U.S. apartment vacancy rate stood at 4.1%—the lowest since the end of the dot-com boom in the early 2000s, and below its 5.7% average rate since 1980. Meanwhile, the office vacancy rate was 16.7%—only a nudge down from the 17.6% post-economic crisis high reached in 2010 and well above its average of 14.9% since 1980.”

http://online.wsj.com/news/articles/SB10001424052702303626804579506073419741570

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Latest Bubble to Pop: Mortgage Refinancings

Posted on by

“The refinancing game is nearly over.  Just looking at the mortgage side of life, this means that the increase of households’ retained cash flow is unlikely to improve further. For many of the large lenders, it also means a reduction in workforce—a significant one, in many cases—which will impact employment figures and possibly further recovery.  A final note in this saga pertains to household leverage. Common wisdom seems to hold that US households have deleveraged since the mid-2000s crash. Unfortunately, that’s not the case.  In 2008, total household liabilities stood around $14.2 trillion. At the end of 2013, they were $13.8 trillion—a paltry 2.8% decline.”

http://www.caseyresearch.com/cdd/the-latest-bubble-to-pop-mortgage-rates-and-their-butterfly-effect-on-the-e

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Hunting for Foreign Real Estate Bargains

Posted on by

“There are a number of reasons for looking into real estate in Cyprus—including beautiful Mediterranean beaches, an agreeable lifestyle, and crisis-driven bargains.  Cyprus has long been and will continue to be a popular place to own property. It enjoys a pleasant winter and what many regard as the Mediterranean’s most beautiful beaches. People from all over the world come to Cyprus to retire and to own vacation homes.  In some cities, including Paphos and Limassol, foreigners are a majority. If you find the thought of joining them attractive, then the lingering effects of last year’s crisis could present you an opportunity to get in cheaply.”

http://www.internationalman.com/articles/hunting-for-foreign-real-estate-bargains

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Strongest Asset Protection Laws in the US

Posted on by

“In the first decision, the court declared that it didn’t have jurisdiction to force a Florida man on the wrong side of a $29 million judgment to turn over stock in companies organized in the Bahamas, the Netherlands, Jordan, the Isle of Man, and the Dominican Republic. It was especially concerned about the practical implications of permitting Florida courts to issue turnover orders for assets located outside the state. After all, creditors outside Florida might have claims against the same assets.  The second debtor-friendly decision followed a few days later. Here, the Court of Appeals ruled that Florida courts have no authority to appoint a ‘receiver’ over an out-of-state corporation.”

http://www.nestmann.com/the-strongest-asset-protection-laws-in-the-us

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

12 Detroit Houses Demolished Accidentally, Including Couple’s [2013]

Posted on by

“The couple had purchased a dilapidated two-story townhouse in Detroit (pictured at left) for $500 at a tax auction in October 2012. But weeks later, when they drove to the home on the city’s east side to get measurements for boards that they were planning to have installed, the couple was shocked to discover that their house was nothing but ‘a pile,’ Diven told The Detroit News. And their house wasn’t the only one: 11 other properties, which had been purchased by a local investor, were also demolished.  It was a mistake made by the state’s Land Bank Fast Track Authority — who had demolished all 12 properties as part of a program to eliminate blight near three local schools.”

http://realestate.aol.com/blog/2013/01/11/detroit-houses-demolished-accidentally/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

$1M in forgivable loans offered to rehab seized Marygrove homes

Posted on by

“Talmer Bank is committing up to $1 million in forgivable loans for people who commit to buying homes in an area south of Marygrove College in Detroit in upcoming auctions.  The individual loans from Troy-based Talmer Bank require that the recipient live in the home and would be up to $25,000, with $5,000 of the loan forgiven for each year the owner stays in the home, up to five years total. The money could be used to rehabilitate or renovate homes in the neighborhood.  The administration will target the owners of 79 abandoned homes that are still in good condition in a west-side Detroit neighborhood as it begins going after negligent landlords who leave houses to rot in a city flush with blight.”

http://www.freep.com/article/20140409/NEWS01/304090028/Detroit-blight-Mike-Duggan

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Detroit Is Auctioning Off Incredible Old Homes For $1,000

Posted on by

“A new program introduced by Mayor Mike Duggan Monday addresses one of Detroit’s largest problems — thousands of vacant and blighted houses — by auctioning off some of the nicest ones to people who want to live in a Detroit neighborhood.   The catch? Unlike the thousands of properties in the county’s foreclosure auction each summer, a winning bidder in the Building Detroit auction must agree to bring the home up to code within six months, and then actually live in it.  Building Detroit is restricted to Michigan residents, companies and organizations who have not already lost a property due to back taxes in Wayne County in the last three years.”

http://www.huffingtonpost.com/2014/04/14/cheap-detroit-houses-auction_n_5148152.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Want to make money as a landlord? Try Detroit

Posted on by

“Want to make money as a landlord? Consider Detroit… seriously. Real estate investors are flocking to the city — not only to take advantage of some of the best deals in the nation, but also because occupancy rates are soaring and so are rents.  In fact, after comparing the median sales price of homes to average monthly rents in nearly 1,600 counties, RealtyTrac found that Detroit’s Wayne County offers landlords the best return on their investment in the nation.  Investors who buy homes in the metro area can expect a 30% gross annual return from rents. That’s triple the national average of 10%.  One of the reasons is the ultra-low prices investors pay for rather sizable homes.”

http://money.cnn.com/2014/04/16/real_estate/detroit-landlord/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet