Feed: torcana property's Site - AggScore: 46.2

Irish Government takes on foreign property debt | investment property sales

While Irish taxpayers will understandably be galled at the thought of paying for non performing investment property sales loans; I don't really see what change it makes whether the loans based on the purchase of Irish or foreign land. The purpose of the National Asset Management Company or the "bad bank" as it's more commonly known, is to provide surely about Irish banks balance sheets by removing assets whose value is worrying investors.

This should give investors a measure of trust, as the government is effectively forcing the banks to write down the value of the loans before taking them over. However, they'll be concerned about the (vague) levy that could be charged back to the banks (and hence their investors) if the Irish government makes a loss on these assets down the line.investment property sales

I actually think the worst performing loans are going to be those given to purchase scandalously overvalued Irish land investment property sales(a prime example being the Jurys Ballsbridge site in D4). I don't see why they wouldn't be able to recoup a decent percentage of loans given to purchase in places like Florida and Birmingham (given time), although I'd imagine most of the Eastern European loans (a very small percentage of the total) will simply be written off.

Recession 'likely over'- Fed Reserve Chief | investment property sales

Federal Reserve Chairman Ben Bernanke said today the very worst US recession since the Fantastic Depression was probably over but warned the recovery would be slow and take time to create new jobs.investment property sales

"Even though from a technical viewpoint the recession is most likely over at this point, it's even now going to feel like a very weak economic system for some time," Mr Bernanke told a questioner after giving a speech to a Brookings Institution conference.

"The general view of most forecasters is that that pace of growth in 2010 will be moderate, less than you might expect given the depth of the recession because of ongoing headwinds," he said, warning that this would delay job creation.

US joblessness has soared to 9.7 per cent since the recession began in December 2007, and is forecast to push to 10 per cent in the months ahead.investment property sales

Elsewhere, US retail sales rose at the fastest pace in three-and-a-half years in August and a gauge of New York State making hit a near two-year high, offering hope of a solid recovery from recession.

A separate detail today showed prices received by US producers rose more than desired last month, suggesting business was improving.

Economists are generally in contract that the US economy is in the early on phase of recovery from the worst recession in seven decades.investment property sales But many remain worried about lacklustre client demand, with rising unemployment decimating incomes.

The Federal Reserve will look at the data at a conference next week at which officials will resume debate on how best to withdraw the extraordinary support they are providing the economy.

Knight Frank figures suggest that signs of recovery are now very evident | investment property sales

As costs in the world's very popular second home destinations for international customers hit rock bottom, attraction rates fall and stock markets remain volatile, a growing number of industry specialists believe that the first signs of recovery in the market are being seen.

Leading the charge are high net-worth (HNW) individuals, according to the latest Wealth Report from Knight Frank, with 55% recognising offer fundamentals and planning to increase their exposure to residential investment property sales over the next two years.

"In turbulent times the wealthy want their investment opportunities to be both tangible and clear," said Liam Bailey, head of residential research at Knight Frank.

HNWs are not the only ones looking for a relative safe-haven for their money at present. In spite of complicated economic conditions and important falls in the value of Sterling, searches for international investment property sales on Primelocation.com increased in January 2009 by 72% month-on-month and broke through the one million barrier in February, according to data released on Friday.

Some analysts believe that the resurgent mortgage market in the UK is also behind the sudden rise in confidence.investment property sales

"Further evidence that the pick-up in buyer interest in the housing market [UK] is feeding through into actual activity is evident in the latest mortgage approvals data from the Bank of England," said Simon Rubinsohn, chief economist at RICS. "The number of mortgages sanctioned in February climbed to the best level since May 2008."

Canadians vision USA investment property sales

A staggering 20 per cent of all Canadians would now weigh buying investment property sales in the USA, a new survey from BMO Bank of Montreal, conducted by Leger Marketing, shows.

Lower USA property values and a strengthening Canadian dollar have fuelled greater demand for homes in the States.

Average property costs in the USA have declined by about 30% since the market place summit of 2007, but costs in Canadian snowbird destinations, including Florida, have dropped even more.

According to the account, Miami property prices have fallen by 49%, while greater investment property sales price declines have been recorded in Phoenix (-54%) and Las Vegas (-57%).

“Now, with the American economy and employment gaining strength, home sales should collect and put a floor under soft prices,” said Sal Guatieri, senior economist, BMO Bank of Montreal.“We expect to have prices to rise over time as the overhang of unsold homes eases.”

Guatieri projects that the U.S. dollar will support in the next few months, which would add to the investment potential for Canadians who buy property in the USA now, as they would realise larger returns, should they choose to sell their USA property and repatriate funds back to Canada.

Overall international demand for homes in the USA is growing among investment property sales investors across many parts of the world, which could eventually help push property prices higher.

Property Florida | How residence prices affect our everyday lives

There are however wonderful units remaining in our fully complete and tenanted development in Property Florida - one bed apartments start at less than $50,000 (€35k / £30k). With a higher (and effectively guaranteed) net rental yield these units are worth considerable consideration. This has been by far our most popular Orlando advancement.

Golf enthusiasts may need to have a look at our reduced Spanish development in Almeria (pictured above) - this is a true quality growth that meets all my selection criteria.

Encouraging Residence Cost Stats

After a (very) long winter, spring seems to have brought a touch of sunshine to American residence costs. The latest Case Shiller indices were released last week and they highlighted that normal prices continued to fall in April 2009: the ten town index was 0.7% lower the 20 city index was 0.6% under the previous 4 weeks. What's interesting to me is that these are the lowest falls since June 2008. The case for those declaring the worst is over continues to gain momentum.

Despite continued pessimism in some sectors of the market, the data point to comparable turning points in the UK; with Nationwide reporting cost rises of 0.9% in June and the Bank of England announcing four several weeks in a row of rising mortgage approvals in May.

Shouldn't we be focusing on something else?

Most people (although hopefully not too many audience of these newsletters) Property Florida can be forgiven for wishing newspaper writers and commentators would merely shut up for a while about the trends in the housing and mortgage areas and concentrate on more important things like lowering unemployment and enhancing healthcare.

I am also particularly concerned about the crazy tax burdens in Ireland - €13 billion was collected via income tax in 2008 (it will be less in 2009) but the government is about to pay €50-70 billion for the low assets in our banking system. You know what they say - €10 billion here and €10 billion there and before you know it, we're talking true funds.

Link between house prices and client spending

However, and whether we like it or not, the focus on the housing market needs to keep on because it has direct links to many other industries and house costs directly affect consumer spending. Merely put, if people know that their home is increasing in value, they will tend to spend more cash (and vice versa). In economic jargon, this is referred to as the Wealth Effect and it is very influential. The economic policy models of the Fed Reserve assume that a person whose home appreciates by $100,000 will increase his spending by the same proportion as a person who gets an extra $100,000 in stocks, shares and regular income.

Declining house costs also restrict a banks willingness to lend cash - not just for homes but also for cars, business start ups, vacations and general Property Florida. Far too many people who should have known best lost sight of these forces.

Property Florida,villas in Orlando,property in florida,properties in florida,florida homes for sale,florida properties,house for sale in florida,properties for sale in florida

Property Investments Florida | What has changed and what new trends are emerging?

As usual, please feel free to skip my opinion piece and go straight to this weeks Property Investments Florida deals - we're promoting brand-new projects in Tampa Florida (waterfront from $90k) and in Birmingham UK (canal opinions from £58k), with plenty more available on www.torcana.com.

I'm pleased to report that June is shaping up to be our busiest month of the year, with a very wide range of discounted properties purchased by our clients at 45-65% below retail rates.

Jan-Jun 2009: What has changed?

This probably owes a lot to the huge change in investor sentiment over the past 6 months; it's been like night and day.

Don't get me wrong - I still feel strongly that our wider economies have several hard and very sluggish years ahead. The disease may have been diagnosed and we may have been moved out of the ICU, but the necessary medicine is going to be very unpleasant for us all. Governments who refuse to get it will find eventually themselves back on the operating table.

1997-2007: The Typical Investor Strategy

The profitable strategy of the past decade is fairly simple on paper - get a reputable builder, reserve in a good location with strong local demand which will be built in 2-4 years time, negotiate generous reservation and finance terms, obtain good legal advice, and wait for capital appreciation during the construction stage. Sell a couple on completion to get your deposits back, rent some out for a few years then sell them too, and keep the majority for the long term. The reality is way more complicated than that, but hundreds of thousands of people have been doing it skillfully.

Same hardened buyers, completely new rules

Times are changing though, and these same hardened buyers are now pursuing a new strategy with equal vigor - instead of putting down small deposits on overpriced offplan apartments or condo hotels they are snapping up completely completed Property Investments Florida at discounted prices in prime locations.

Why? As we all know, just as global provide reached its zenith, finance dried up and demand fell off a cliff. Developers are really struggling to sell excess stock, which means they are under pressure from the banks that financed them. When reserves run out new cash must be raised. If the developer doesn't drop his prices dramatically to stimulate demand the bank will seize the properties and will do it for him. Pretty tough, but that's the business they are in and they knew the risks involved.

Which developers still have their heads in the sand?

Ireland's developers have more power than most over their lenders, so they haven't been forced to face this reality yet, but they will soon and a marketing brand called Nama has been created to deal with it.

As you can clearly see from the three projects below, companies and financial institutions in the USA and the UK have been facing their liquidity demons, and investors are only too pleased to give them cash in exchange for the bargain of a lifetime. In Florida's case - 2000/2001 prices; and in Birmingham - half price on the current retail rate.

Property Investments Florida can afford to be very choosy, and they need to be, because the truth is most distressed properties are simply not worth buying. If it's not in a great location, if it's not at least 70% sold, if the local demand isn't there, if there are too many similar properties nearby and if the build quality isn't good, then my advice is to stay away.

Where does Torcana come into all this?

Our job is to guide you through these hurdles (and more) and to make sure you obtain it rented out at a high yield. We also make sure that your legal, banking, currency, tax and accountancy affairs are all in order.

This is our market niche and we'd love to talk to you about it.

Property Investments Florida, investment property florida, Investment Property USA, where to buy investment property, property investors, property investor, usa property investment, property florida, property in florida

Property Investments Florida | Offplan Emerging Market vs Discounted Developed Market

Apologies for the longer than normal delay between issues - a very hectic travel schedule over the past 10 days taking in conferences in Brazil, meetings in London and site visits in Granada, Almeria and Birmingham has robbed me of the time I generally set aside to write these newsletters and blog postings.

However, our website www.torcana.com has been updated daily with new projects and my colleagues have been kept very busy from a big influx of enquiries from PR exposure in Business & Finance Magazine, The Sunday Times and Homes Overseas Magazine.

I wasn't in Fortaleza Brazil last week to look at local property developments (although I did do that too); I was actually there to deliver a series of presentations to a big real estate conference attended by international property investors. I was the only person there promoting European property and the simply person discussing the strategies available to those looking to purchase highly discounted property from distressed sellers.

Hardened Property Investments Florida who had arrived with the intention of purchasing offplan condo hotel or vacation property in South America were surprised to find themselves really seriously considering purchasing city centre property in Birmingham or vacation homes in Andalucía instead. They just weren't expecting an Irishman to stand up and offer them top quality finished properties in these locations at lower prices and higher rental yields than their offplan South American equivalents. It was a good results for Torcana overall, and if any of our regular clients would like to see one of the presentations I delivered please click here.

Tips for Spain

There is an enormous glut of properties in Spain currently, and we are very picky regarding the kinds of developments we choose. My top tip for those seeking the perfect mix of Property Investments Florida and holiday is our new 288 unit development in Granada. We have negotiated exclusive discounts jointly with the bank and developer and independent research forecasts net rental yields of 8%. It is a beautiful resort in an unbelievable location with access to beaches (10min), golf courses (15 min), ski slopes (35 min), airport (25 min) and the historic town centre of Granada (20 min). You can find further information below.

Generally speaking, I would advise buyers to stay clear of big developments (I get nervous when they are bigger than 300 units) and high density developments (more than 3 storeys). You should be purchasing units that are least 30% lower than the previous purchase price and that are at least 65% sold (to avoid risk that community fee system will collapse). And of course, do not even think about purchasing offplan, with hundreds of thousands of unsold finished properties available all over the country at bargain prices, there's just no want to take that risk.

Birmingham

Those seeking a great benefit city centre Property Investments Florida and a steady rental income in sterling should definitely download the brochure for our Flatiron Development. Birmingham might not be the most incredible city in the world, but it is the UKs second most necessary after London with five universities, a thriving business sector and 42% of the countries exhibition and conference trade. Most importantly, properties are half the cost of the capital city and we have secured 35 units at a 40% discount on a 2009 value in a modern and centrally located residential development. This is a safe bet for medium term capital appreciation with rock solid rental yields and low interest mortgage financing. Prices start at just £71,000 (previously on sale for £156,000).

That's it from me this week, hope you are enjoying these newsletters and seeking forward to your questions, feedback and enquiries.

Simply, there's a great selection of properties for you to look through below.

Property Investments Florida, investment property florida, Investment Property USA, where to buy investment property, property investors, property investor, usa property investment, property florida, property in florida

Property Investments Florida | Top ten methods on purchasing discounted property in Florida

I´ve written this article as a tip to those considering a purchase in Property Investments Florida. While property prices are at record lows and incredible bargains are available, it is just as simple to make the wrong purchase decision now as it was during the boom years.

Many of these methods are universal and can be applied to any property market. I would imagine that a lot of our readers would adhere to this criteria automatically but its always useful to present this kind of data in an simply digestible format.

Heer are my top ten tips:

1. Do your homework on the neighbourhood

2. Visit the property yourself, or have someone you trust do so

3. Check out the rent roll

4. Foreclosures: Make sure the number is manageable

5. HOA Reserves: Make sure they're adequate

6. Budget for repairs and vacancy periods

7.Closing and running costs: Make sure you know what they're

8. Get a decent management company and be aware of all fees

9. Get a referral from the selling agent

10. File your tax returns

1. Do your homework on the neighbourhood

You can look up the average household income and crime statistics for any neighbourhood in a matter of minutes and it could save a small fortune. Imagine that you´ve a choice between one Property Investments Florida selling for $50,000 in an area with an average household income of $25,000 and another property selling for $60,000 in an area with an average household income of $40,000. You´d be much better off paying $10,000 extra for a greater rental and resale market.

2. Visit the property yourself, or have someone you trust do so

An advert promoting a $30,000 property within 12 minutes of Disney might sound like a no brainer. The thing about Orlando is that nearly every neighbourhood, great and bad, is within a 10-20 minute drive of hotspots like Disney, Universal Studios, Sea World and Restaurant Row.

Like most big cities, great neighborhoods with huge mansions can be less than a mile away from horrible ones with rows of boarded up properties. You need a lot more than Google maps to determine if the area is good or not.

3. Check out the rent roll

If you are buying a pre tenanted property with the aim of earning a regular income, then ask to see an up-to-date copy of the rent roll. This offers invaluable data such as how many units are vacant, what each unit is renting for, when each lease started and when each lease will expire.

4. Foreclosures: Make sure the number is manageable

The greater stable a community it is, the greater for all home owners. If you are thinking of buying a unit in a community of 300 homes and 80 of them are in foreclosure, you could be in for a rocky ride. These properties will probably be sold for much less than what you´re paying for yours and rented out for less than you can afford to rent yours out for. Try and buy somewhere where less than 10% are in foreclosure.

5. HOA Reserves: Make sure they're adequate

In Florida, all condo home owners have to pay HOA fees which often range from $200-$300 per month. Your Home Ownership Association (HOA) is responsible for looking after the common areas and facilities of the whole community and insuring the common areas and exterior structures of all buildings (i.e. walls & roofs).

Ask for a copy of the HOA accounts before purchasing a unit. This should tell you how many people are paying their HOA fees and what reserves they have in place. If either of these is inadequate, you could be in big problems as your fees will be increased dramatically if a) the clubhouse roof wants to be replaced and they have insufficient reserves or b) not enough people are paying their fees to keep the resort on a monthly foundation.

6. Budget for repairs and vacancy periods

All properties, from the top to the very bottom of the food chain are going to have vacancy periods and repairs that will eat into your income stream. Budget at least one month's rental income each year being spent on these issues. Older properties, less expensive properties and properties in low income neighborhoods will have much higher vacancy and repair costs than newer properties in middle class and upper middle class areas.

7. Closing and running costs: Make sure you know what they're

For properties priced in the $50,000 - $150,000 range, you should budget approx $2000-$2500 to cover basic legal and title insurance. Running costs include HOA, real estate taxes, property management and home insurance (optional but highly recommended).

8. Get a decent management company and be aware of all its fees

An expert management company that manages your property and your tenants well over a number of years is worth its weight in gold. In almost every scenario, it does not pay to appoint a small inefficient company who undercuts bigger and larger competitors with cheap commissions.

The greater your management company is at doing his/her job, the happier the tenant will be and longer he/she will stay. All management companies cost additional fees for placing a fresh tenant or renewing the lease of an existing tenant, so you should make yourself aware of these and input them into your calculations.

9. Get a referral from the selling agent

If your agent has been in business for a few years, he/she should be happy to put you in touch with a couple of satisfied clients who can confirm that they're happy with the service obtained. This is especially important if you are dealing with overseas agents who are promoting properties in an area where they're not based full time.

10. File your tax returns

All property owners in the USA must file tax returns in the USA every year, even if the Property Investments Florida is not earning any income. Overseas residents will need to get a tax number (ITIN) and a non resident social security number. This is a very basic process and filing returns every year shouldn´t cost more than a couple of hundred dollars and there are plenty of specialist companies who can take care of everything for you.

Property Investments Florida, investment property florida, Investment Property USA, where to buy investment property, property investors, property investor, usa property investment, property florida, property in florida,

Property Investments Florida | Florida - some key changes between 2008 - 2011

When Torcana first entered the market for distressed real estate three years ago, there was a large choices of Property Investments Florida available in what I would think about the "comfort zone" of most investors. For $60,000 - $100,000 you could purchase a tenanted and well maintained 1, 2 or a 3 bed condo in a decent middle class neighorhood.

We pride ourselves in our skill to sniff out a bargain and we sold a couple of hundred prime items matching the description above in well established communities like Mosaic at Millenia, Arbor Lakes, Sabal Point & Siesta Lago. A mixture of direct competitors, pension funds, specialist Property Investments Florida funds and high net worth individuals all snapped up tens of thousands more in (broadly) similar communities and price ranges.

When you combine that substantial investor actions with better economic conditions usually, you are are left with a severe tightening of this market segment. While some news outlets are still publishing stories about new foreclosures and price falls, today´s facts are a lot more relevant than yesterdays headlines.

The basic truth is that the number of Property Investments Florida being purchased every month far outnumbers the combined total of new foreclosures plus new builds becoming available.

Recent official statistics verifying inventory levels at 7 year lows (4.8 months worth) and vacancy rates at 3 year lows enhance this argument further.

Property Investments Florida, investment property florida, Investment Property USA, where to buy investment property, property investors, property investor, usa property investment, property florida, property in florida,

Usa Property | Running out of time in Orlando Latest statistics show the market is changing - fast

There's a couple of important Usa Property related subjects I'd like to cover in today's view piece, although as always, you can skip straight to the property deals of the week by scrolling down or by clicking on the quick links to your right. We have some great new Spanish and Birmingham projects for you to look through.

Orlando - Foreclosed Window Closing Fast

As normal readers will remember, we first identified the potential of this market around June 2008 and since an official launch in October 2008, we have been selling fairly large amounts of Orlando condos and single family homes to Irish, British and Scandinavian clients.

There were also quite a few investors who needed to buy but preferred to wait a little until the market bottomed out - an understandable concern. However, as any honest broker would have admitted - bottoms can't really be identified until after they've happened and we were not afraid to say so.

We're almost in June now and I'm pretty certain that the foreclosure market in Central Orlando bottomed out about three months ago.

According to statistics gathered by the Orlando Realtors Association, almost 50% more homes were sold this April compared to the same month last year. They are also selling 15% faster than last year and there is currently 20% less inventory to choose from - these are all enormous changes.

The consequence of this is that well priced Usa Property are now much harder to get and price rises are more common. Under asking price bids on foreclosed properties are now being rejected immediately by the realtors.

Government Action

Two big government stimulus packages had a big impact on this market. One was the good measures taken by the Bush Administration in August 2007 to aid credit worthy homeowners who missed payments after their teaser rates expired. Many of these borrowers have been able to refinance at more manageable interest rates and 97% loan to prices. This created much required stability.

Demand for property was also improved this year by a tax credit for first time buyers. This can be up to 10% of the value of the house (max $8000), doesn't have to be repaid and is available for any home purchased between January and December 2009.

The US Foreclosure Market is Unique

In short, there isn't really much time left to make the most from what's very possibly a once in a generation chance. Let us not forget that prime residential and cash flow postive properties in high end resorts can be purchased for as little as £31,000 / €36,000 - up to 75% less than previous purchase prices.

What else in the world can an investor get deals like that? Maybe a couple of places in SE Asia, maybe a couple in South America. But what's the average monthly salary in these areas compared to a wealthy, diverse and sophisticated market like Orlando? Where do you think has a stronger resale market?

We still have a few items left in the Madison Development, which contains completed and tenanted properties in Metro West direct from a distressed developer. Sales were sluggish in February and March but they've recently obtained off like you wouldn't believe (30 units in the last 10 days). Perhaps you'd like to fill in the enquiry form contained in the link above in order to obtain the latest access list before it sells out.

Torcana Blog

Many of the issues mentioned in this newsletter are explored in more detail in my Torcana blog, so please feel free to see and to leave your comments & ideas.

Simply, there's a good option of Usa Property for you to look through below.

usa property, to let property, usa property for sale, realtor florida, wholesale properties, villas in Orlando, property florida, properties for sale in florida, property in florida, florida properties, house for sale in florida, florida homes for sale, properties in florida,