Latest Real Estate Articles

Renovation project lured those seeking Spanish retreat

Thu, 04 Jun 2009 18:24:37 -0700

An offer was made and accepted - they are reticent about the price, but John observes: "There was no real property market there; people were virtually giving away these ruins because they wanted to go and live in an apartment in the town." But then came disappointment: Anne and John's friends changed their minds about the purchase, and as they were unable to buy it alone, the purchase was dropped. A year later, and another change of heart, it was back on and fortunately property in Spain was still available at the same price.

Buying was relatively straightforward, says John, adding: "It was fundamental that we had an estate agent who was able to explain all the costs, local taxes and procedures." Both Anne and her friend Polly, as the legal owners, had to register as non-residents with the local authorities.

The house itself really was a wreck. Although it had a traditional roof, this was made of mud and bamboo under the tiles, which they soon discovered housed rats. The rear portion of the house had been used to keep animals and was covered with countless years worth of goat dung. Part of the building had collapsed, only two rooms had tiled floors and there was no glazing in the windows. Apart from the rats, there were also bees and wasps nesting throughout the building.

Anne says: "We would go and camp outside the house while Polly and Philip braved the insects and rodents indoors. We cooked outside on an open fire, ate outside and washed up outside - it was pretty basic living and that was our children's only experience of a holiday! It's no wonder that when the builders came to do work on the property they took pity on us and built us an outdoor barbecue without us asking for it!"

A local builder was employed to do the renovation. The roof was replaced, floors and windows were installed throughout, kitchen and bathroom were put in and the collapsed section was rebuilt. They also had the outside walls plastered, terraces built and a water system installed.

It wasn't easy overseeing the work from 2,000 miles away, but in spite of a few 'surprises' along the way, John says: "Using a local builder certainly earned us a lot of goodwill."

Getting to know the neighbours has been the best thing they could have done, says John. "I'm astonished at English people who live in the Spanish countryside full-time and don't know any of their neighbours," he remarks. With their neighbours, John and Anne and their co-owners have developed a symbiotic relationship. They have reached verbal agreements allowing a handful of local people to graze goats and a horse on their land, and to harvest the olives and almonds that grow plentifully.

In return the land is looked after, they get it ploughed over every couple of years, and the British owners receive a sack of almonds, and occasional gifts such as large wheels of cheese when they are there. "We'll get back from being out for the day and find a bag of lemons or a rice pudding hanging in the olive tree in front of the house" says Anne.

More to the point, the neighbours look out for their property. "A year of so ago, some small animals got onto the roof and flipped off some of the tiles, trying to find bees," says John. "It would have been disastrous if the rain had got in. But a neighbour saw this and rang us in England to let us know so we could fix it."

Anne and John also eat in local restaurants and often have neighbours drop by for a cup of coffee or a glass of wine. "There's respect on both sides, and I think that's important," says John.

The couple - who now have three children aged 14, 11 and seven - only make it to the house once or twice a year, when they try to stay for three weeks at a time, but they know that because of the animals being grazed there, it is not abandoned the rest of the time. And they also let friends stay for a token amount. "In the early days, we didn't charge them - we just asked them to do some work, like collecting wood, or helping to build a wall, while they were there."

Over 10 years, the area has changed, with the advance of electricity bringing in a wave of foreign buyers, but although John and Anne have been told they could make a tidy profit by selling, they have no intention of doing so. "Other people are buying properties purely with an eye on developing to make money, but that's never been something we were interested in," says John.

He concedes, however, that he would like to make the house more comfortable one day, as it's not really suitable for year-round use. There's just a wood stove to provide heating and water is still pumped from the well. "What's great about the house," says Anne, "apart from the breathtaking scenery and absolute silence is that our three technology mad children do not miss their computer, TV or DVD and spend their time playing games, reading books, trekking up and down the hills and generally having a free and lovely time."

The children would love to have a swimming pool, but that would mean hooking up to the electricity supply. And while John and Anne haven't exactly ruled that out, what's the hurry? Mañana, perhaps.

A golf home is no handicap

Thu, 04 Jun 2009 17:08:14 -0700

THE RISE and rise in development of golf-side property has been one of the truly remarkable phenomena of the property market in recent years. The concept of arranging homes around the greens and fairways of a golf course originated in the US before becoming big in Europe, and has now been adopted throughout the world. Mediterranean countries such as Spain have been at the forefront on this side of the Atlantic, catering largely for a market from northern Europe that wants to combine golf with a more appealing climate.

The popularity of golf propertyis down to a number of factors. First there is the attraction of the game itself. According to KPMG’s Golf Benchmark study, the number of players in Europe, Middle East and Africa has been growing at around 5 per cent every year for the last two decades, to around 6m players in total.

The fast-growing number of players has led to a booming demand for new courses, and real estate – which brings in €19bn a year – has bankrolled much of the development, becoming the golf industry’s biggest earner.

From the owner’s perspective, if you’re a player, then the idea of having a house right next to a top-quality course in the sunshine is a formula hard to beat. Surprisingly, many of those who buy golf course properties don’t even play the game though; they are attracted by the manicured environment, which can seem like have your own immense lawns to gaze out upon.

And there’s a third dimension: from a financial perspective, property on a golf course can be a very sound investment since people play the game throughout the year, and with the right property than can generate a year-round rental income that most holiday properties would be unable to match.
So what factors should you consider before teeing up for a golf property

• Quality of the course. A championship-level course by a leading architect such as Cabbell Robinson or Robert Trent Jones Jr makes for a good investment. Former players such as Jack Nicklaus and Gary Player have also moved into the business of course design, and their name gives the course a much higher profile. A ‘signature’ course means the professional has had significant input into the layout of the course.

• Proximity and access. In some countries – Bulgaria springs to mind – a lot of property has been marketed as ‘golf property’ when it is reasonably close to golf courses, but doesn’t actually overlook the fairways, and in some cases owners don’t even have a right to play there. Most buyers do want to overlook the course – that’s the reason for buying on a golf resort – and the most expensive or desirable property can sometimes be on the 18th, as it’s where the maximum excitement is. Developers will often include club membership as well as reduced green fees for those buying a property.

• Critical mass. Golfers like to play a range of different courses, so the more choice close at hand, the better. Andalucia in Spain has more than 100 courses in total, including so-called Golf Valley in Nueva Andalucia.

• Other facilities. Golf resorts that offer a broader range of activities for non-golfers are likely to be more successful, particularly at attracting families. A spa seems to be the most winning combination, perhaps reflecting the fact that most golfers are still men; tennis, riding, and watersports also mean that you’re buying more than just a dormitory for the golf course.

Buying property in Brittany

Thu, 04 Jun 2009 14:37:45 -0700

Brittany is a unique part of France that remained a Celtic duchy for over a thousand years, when in 1532 it was annexed to France. Brittany is famous for its rich and varied heritage, ancient towns and buildings, a spectacular coastline and long held traditions.

Property prices in France have cooled in the present climate, as they have in many parts of the world, but Brittany property is still highly sought after. One of the most interesting aspects of looking for property to buy in Brittany is that you would not just be buying property alongside other holiday makers from the UK as Brittany is also popular for Parisians looking to buy a Brittany holiday home or retirement home.

One of the most fascinating areas of Brittany is the resort of Carnac, a seaside resort that features massive megalithic remains from the Neolithic period. The huge stones were erected by ancient tribes who inhabited the area even before the Gauls arrived.

Another interesting area of Brittany in which to buy < Brittany property is the Cote D'emeraude Saint Malo. The resort of Saint Malo has built in the English channel, in the middle of granite rock. It is best known for its ancient castle, the cathedral of Saint Vincent.

With so many attractions and interesting areas, life in a Brittany holiday home would never be dull.

Buying a property in Dordogne

Thu, 04 Jun 2009 13:42:14 -0700

For people looking to escape the UK climate and find a country retreat in the splendid French countryside, France’s Dordogne region offers one of the most perfect places to find a holiday home.

Dordogne is situated in the south west of France and features an incredible 4,000 different chateaux, which amounts to 10 percent of France’s total chateaux. < Dordogne property has always been popular with foreign investors from the UK, and has since become equally popular among the Germans and the Dutch who are just as keen on property to buy in Dordogne.

The area is very scenic and boasts 9,060 square kilometres of some of the most beautiful French countryside

If you are looking for a Dordogne holiday home there are four separate areas of Dordogne in which to find one as the area is split up into quarters, all represented by colours. The regions are the ‘Green Perigord’, the ‘White Perigord’, the ‘Purple Perigord’ and the ‘Black Perigord’.

Each region has its own unique attraction. For example, the Black Perigord features ancient caves with cave drawings over 30,000 years old. The Purple Perigord features vineyards which are used for some of the area’s most loved wines.

Whatever your interest you’re sure to find something to spark your imagination in Dordogne, and Dordogne property prices have decreased recently too as other areas of France have increased in popularity. Dordogne property is still very sought after so is a worthwhile investment.

What is an Eco Home?

Thu, 04 Jun 2009 11:35:38 -0700

Today everyone is concerned about their carbon footprint, the earth and making sure that they don’t damage the planet for generations to follow. For this reason eco-homes have become more popular, especially eco-homes abroad.

An eco-home is a home that uses less energy to heat and run, and is also one that has consumed fewer resources to construct. For example, an eco-home may have been built using reclaimed materials, or recycled materials. It may have been constructed using organic materials or at the very least using materials such as wood that has been taken from sustainable forests.

The eco-home also uses fewer resources to run, making it more energy efficient. It may have solar panels to power the electricity or a water collection system that harnesses natural rain water.

Of course, eco-homes abroad are more popular than they are in the UK as certain areas of the world have more potential for a solar panelled home to function than in Britain and land is often cheaper.

Eco-homes abroad in areas such as Thailand and Costa Rica are very popular due to the warm climate and the cheap standard of living. There are also many property websites on the Internet offering eco-homes abroad, so you can find the perfect home abroad in an ideal setting without increasing your carbon footprint.

The most expensive areas to buy property in London

Thu, 04 Jun 2009 09:17:23 -0700

There may be a housing crisis sweeping the globe, but that hasn’t stopped some of the most expensive areas of London appearing on a list of the most expensive areas to buy property in the world. London is the place to live for the rich and famous and in some areas is more expensive than even New York or Paris.

But just where are the most expensive areas of London where you can find property for sale? The most expensive street in London is Courtenay Avenue, N6. If you want buy a house on this street you’ll need to find around £6.8 million for the average house.

The second most expensive street on which to find property for sale in London is Chelsea Square, SW3. A London property in this prestigious area will set you back somewhere in the region of £6.4 million.

Even Premiership footballers may struggle to find that sort of money, though a certain Chelsea chairman could probably afford it by simply opening his wallet.

Of the top ten most expensive streets in which to find property for sale, every single average house price is above the £5 million mark, which is the sort of price you find in any other city in the world.

So for the multi-millionaire looking for the perfect city in which to invest in property, the very best property for sale in London has just what you’re looking for.

The benefit of short term leases in Wimbledon this summer

Thu, 04 Jun 2009 08:02:53 -0700

Despite the fact that Britain has not had a ‘proper’ summer for two years, tennis fans still look forward to the British summer time and the Wimbledon fortnight. This year the frustration of rain stopping play should not be such a problem for the players and the watching fans as Wimbledon’s Centre Court now has a roof.

As with any sporting occasion, hotels and other forms of accommodation in London are expected to be at peak prices and full to bursting for the duration of the tournament. This gives property developers and landlords the opportunity to capitalise on the excess demand for and under supply of London property for let for the short term of the summer.

With property prices relatively low throughout the country, property for sale in London has never been more affordable. This gives landlords and potential landlords the chance to earn more money for short term leases by targeting fans of the tennis who will be searching for London property to let for the Wimbledon fortnight.

Once the tennis tournament has concluded the property can then be used for regular letting, for which there will be a huge demand, especially with students due to return to university towards the end of summer.

Short term lets also give you the advantage of keeping better control over your property and performing minor maintenance between leases so that your property remains in excellent condition.

Recession leads to more people shopping for value for money office space

Thu, 04 Jun 2009 06:46:11 -0700

There is no escaping the fact that the world is in the grip of recession, which means many businesses are being forced to make cutbacks on their outgoings and look at ways to improve their cashflow. Two of the most expensive areas for businesses are its staffing costs and office space, yet cutting back on staffing costs often leads to reduced earnings, reduced output and de-motivated staff. As a result, the physical office that a business uses is the obvious area in which to make savings. Serviced offices provide an ideal alternative to conventional offices for businesses, as they exude a professional image without the need for the high costs associated with traditional office space. You don’t have to pay separately for fluctuating electric or heating costs, you don’t have to worry about maintenance or security and even the cost of secretarial and reception staff is included in the simple, all-inclusive monthly payment. In addition to making savings through serviced offices, some businesses are also taking advantage of the service and expanding into new regions and cities by utilising the low cost afforded by serviced offices. Serviced offices give you the opportunity of owning a prestigious, city centre address without the huge costs associated with conventional offices.

Texas Real Estate School - Think Outside The Box

Wed, 27 May 2009 21:58:14 -0700

In contrast to the rest of the country, housing markets in Texas are still holding their own. If you have been thinking about obtaining your Texas real estate license, now is as good of time as any. You may think there are obstacles in the way of your education, but you must think outside the box. With alternative education options now readily available, it’s easy to take the necessary courses and get in the real estate game.

According to S&P/Case-Shiller home-price index, over the twelve months prior to November 2008, home prices fell 14% nationwide, but some of Texas’ major markets saw a rise during that same period. While this nationwide decline continued through the fourth quarter (a record 18%), North Texas home values only fell 4.3%. The demand for housing in Texas continues to be strong—the Lone Star State is an ideal place for the real estate agents and brokers to establish a profitable business. More business opportunities are cropping up with a need for qualified brokers and agents. With a small investment of time and money, one can easily get a Texas real estate license and take advantage of these opportunities.

You may have considered attending real estate school in Houston, Dallas real estate school, or Austin real estate school. But, many have difficulty finding a school at convenient location, or one truly qualified to offer the necessary courses. Or, it may seem impossible to find the time to take the courses necessary to get your Texas real estate license. These days, however, there are other options available to you if you think creatively. Getting an education online or via correspondence is no longer unusual, and this type of learning offers the flexibility necessary for a busy individuals. The Texas Institute of Real Estate (TIRE) is a Texas real estate school that offers live courses from their home base in Austin, but also offers courses online or via correspondence (through a partnership with Texas State University-San Marcos). All classes are approved by the Texas Real Estate Commission. These classes are affordable and comparable, if not superior, to any physical Texas real estate school in Houston, Dallas, or Texas city.

To obtain a Texas real estate license, Texas law requires you take 210 hours of education (or seven 30-hour courses). Principles of Real Estate I and II are required, as well as the Law of Contracts and Law of Agency course. One additional core course is required (you can choose), then you must take another 60 hours of core, elective or acceptable related courses. All the core courses are available online or via correspondence at TIRE, along with a unique selection of electives such as the Ecobroker designation.

The Texas Institute of Real Estate has educated and experienced instructors who make studying the real estate business interesting and knowledgeable. Wayne and Lynn Morgan, authors of “How to Get Rich In Real Estate... And Have A Life!,” are the founders of TIRE. They understand the demands on today’s busy professional and strive to offer valuable education in a affordable, flexible manner. They believe now more than ever, the time is prime to get one’s Texas real estate license, and take advantage of the opportunities available.

For those of us lucky to live in Texas, our housing market has not been as effected by the downturn in the economy. This mean if you want to obtain your Texas real estate license, now is as good of time as any.

How To Get a Texas Real Estate Appraiser License

Wed, 27 May 2009 21:45:49 -0700

In order to obtain your Texas Real Estate Appraiser license you must follow the steps laid down by the The Texas Appraiser Licensing and Certification Board (TALCB). This organization was created to “to license, certify and regulate real estate appraisers in Texas under state and federal laws.” The first step in this process is to become a Appraisal Trainee.

Before you become a certified or licensed appraiser you must first become an approved Appraiser Trainee. An appraiser trainee is not licensed by the TALBC but authorized to gain experience under the sponsorship of an appraiser. The primary requirements to to apply to become an appraisal trainee are as follows:

• you must be be a US citizen and at least 18 years old

• you must be a resident of Texas for at least 60 days before you apply

• you must meet the education requirements

The education requirements include 30 hours of Basic Appraisal Principles and 30 hours of Basic Appraisal Procedures. Any Texas real estate appraisal course must be approved by the TALBC. You must also complete 15 hours of the USPAP (Uniform Standards of Professional Appraisal Practice) or its equivalent within two years of your application. Once completed, your education must approved; you will have to file the official Request for Evaluation of Appraisal Education Documents form along with a small fee ($30).

Next, you must get a sponsor, who must be a Texas certified real estate appraiser. You can find a listing on the TALBC website, or can even contact appraisers listed in your phone book. Your sponsor must “actively, personally, and diligently supervise an appraiser trainee under his or her sponsorship.” Once you have secured a sponsor, you can submit your application.

The third step is to file the Application for Approval as an Appraiser Trainee. After you fill out the application, both you and your sponsor will sign it and you will submit it along with the current fee of $105. If approved, your authorization will be mailed to your sponsor. Your approval is good for one year and must be renewed annually.

Once you meet all the requirements you can then take the AQB Uniform State Appraiser Examination to obtain your Texas real estate appraiser license. It may take some time however to qualify, but your trainee approval is good for one year, and can be renewed annually.

For the most comprehensive and up-to-date information on becoming a trainee for your eventual licensure, visit the ALBC website. If you are searching for flexible and affordable Texas real estate appraisal training, then visit the The Texas Institute of Real Estate. This premiere business school for realtors offers the classes you need for pre-license credit. They offer the Basic Appraisal course at their Austin real estate school. Or, take a Texas real estate appraisal course online.

The Texas Appraiser Licensing and Certification Board has outlined a process to follow in order to obtain your Texas real estate appraisal license. The first and perhaps most important step in this process is to become a approved Appraisal Trainee. This requires both an investment of both time and money, but a worthwhile effort to begin a new career. Once a trainee has met the education, experience, and examination requirements, then they can become a licensed appraiser in the state of Texas.