Monday, July 28, 2014

Home sales in United States reach maximum eight months

Sales of existing homes in the United States rose in June to its fastest pace in eight months, a sign that the housing market is emerging from a period of weakness.

The National Association of Realtors (NAR, for its acronym in English) reported Tuesday that sales of existing homes rose 2.6% in June to an annualized rate of 5.04 million units.

The figure was higher than expected by analysts and marked the third consecutive month in which the sales pace has accelerated existing housing.

The recovery in the housing sector stagnated in the second half of 2013 due to an increase in interest rates and a reduction in the supply of properties available for sale boosted prices.

However, mortgage rates have dropped a bit in recent months and the country's labor market has improved, which has helped the housing market.

The May sales rate was revised up to a pace of 4.91 million units from the previously reported rate of 4.89 million units.

Sales also have been supported by the fact that more homes are coming to market, preventing prices from rising so quickly.

The number of existing homes for sale on the market rose to 2.3 million in June, the highest level since August 2012 and 6.5% more than in June last year.

Monday, July 21, 2014

The commercial real estate investment in Spain reached post-crisis highs

The interest of international and institutional investors by the Spanish commercial real estate market has hit a new post-crisis record. With nearly 2,500 million in the first half of 2014, investment grew by 110%, according to data from the consulting firm BNP Paribas Real Estate.

The interest of these foreign operators, together with the activity of the newly created Socimi, Spanish REITs, has provided non-residential investment in Spain during the first half of the year has been fired in annual terms. Retail assets have obtained the largest market share, with 38% of the total amount invested, followed by hotels (29%) and offices (27%).

Although domestic investment has grown 150%, starring purchases totaling 810 million euros in the first six of the year, the bulk of foreign investment has been -65% of the total. Of particular importance have investors from non-traditional areas in the Spanish market, such as China, Latin America or the Persian Gulf.

During the study period, institutional investors have also confirmed their interest in the Spanish market, leaving for private investors, both domestic and international, only 18% market share, 12 points less than in 2013.

A institutional funds and REITs has fallen 64% investment of the semester, and is expected to Socimi activity to accelerate in the second half of 2014 and 2015 Chapter seller, highlights the activities of financial institutions, themselves or through their estate, and real estate companies.

Strong competition for prime assets, which have been virtually exhausted in the office and retail segments of the two major cities, Madrid and Barcelona, ​​has had the effect of compression of prime yields. Thus, the prime office yield has gone from 5.8% to 5.6% in Madrid and from 6% to 5.75% in Barcelona in the last quarter.

"All indications are that during the remainder of 2014 will remain the same frantic activity in the investment market that has been taking place since the end of 2013 beginning of improved absorption of space in early 2015 is expected with consequent improvement return on assets. however, is to provide a new understanding of the rates of return on core assets in prime locations, both office and retail. sector is experiencing a diversification into opportunities in secondary markets and real value added "explains Francisco Manchon, investment director at BNP Paribas Real Estate in Spain.

Monday, July 14, 2014

The most expensive building in New York: 740 Park Avenue, the new real estate gem

At number 740 Park Avenue, right on the corner of Calle 71, in upscale Lenox Hill in Manhattan, New York, stands one of the most iconic buildings in the city of skyscrapers. Designed by Italian architect Rosario Candela U.S., this imposing art deco building built in 1929 (the most iconic art deco buildings of New York) has been the home of people like John D. Rockefeller Jr. and Jacqueline Kennedy Onassis. Information provided by the website of luxury lifestyle

The 19-story building and magnificent limestone facade features 31 apartments, one of which is-by far-the most expensive in the history of New York. Property of the Government of France and Gérard Araud residence, its ambassador to the United Nations (until the transaction formally completed), this 18-room duplex occupies floors 12 and 13 of the historic building.

Although the property was listed on the market with an estimated value of $ 48 million, apparently the news of his sale sparked a bidding war between three different bidders. The best was that of American billionaire Israel 'Izzy' Englander, who finished disbursing $ 70 million for the apartment.

This operation equal to that paid by the employer and Egyptian billionaire Nassef Sawiris, who also disbursed $ 70 million to acquire a penthouse at 960 Fifth Ave that had been owned by the late Edgar Bronfman.

The son of Jewish Polish immigrants who survived the Holocaust, Englander was born in Brooklyn in 1948. Ventured for the first time in the world of business while still a student, buying and selling stocks. Also known for his philanthropic work in 2006 donated $ 20 million, primarily to schools and Jewish organizations.

Israel Englander founded the hedge fund firm Millennium Management in 1989 with an initial investment of $ 35 million. The firm currently manages more than 23,000 million.

With a personal fortune estimated at 3,300 million, Englander already owning an apartment on the 14th floor of the legendary building, but was determined to acquire the neighboring duplex as a pied-à-terre or shelter for their children and grandchildren during their visits to the city.

Have you paid too much for this duplex Englander at number 740 on Park Avenue? According to Victoria Shtainer, one of the most important real estate agents in New York and part of the team of the firm Douglas Elliman, the fact that the purchaser is owner of an apartment on the 14th floor of the building has been key in operation. "An apartment always worth more to the neighbor next door to anyone else," he says. "He saw the opportunity to create a triplex. Such opportunities only happen once in life and he took it," he says.

"All great fortunes of the town came to see the apartment," said Ambassador Araud. The duplex of 700 square meters, has double height ceilings, classical moldings, five fireplaces, a private elevator, 38 windows and a small terrace. Its elegant staircase leads to the second floor, where the impressive master suite with two bedrooms is located. In their rooms, hardwoods and marble are the protagonists. Your dining room for 10 people has a magnificent view, while its spacious studio is decorated with luxurious fabrics and fireplace.

The spectacular duplex was originally purchased in 1979 by the French government, which then paid $ 600,000-the equivalent of 1.9 million dollars today-which means an unprecedented 3,500 percent gain for the coffers of the French state . Once the transaction is complete, the ambassador will change his residence to a nearby apartment, but much less expensive, at number 435 East 52nd Street.

Monday, July 7, 2014

9.6 million Mexicans without decent housing : Conavi

The Comisión Nacional de Vivienda (Conavi) apply to 12 billion pesos to provide subsidy to low-income families so they can have access to decent housing.

According to the director of the agency Anzorena María Paloma Silva, the country has more than 9.6 million households without access to a home, "and each year this number increased 500 thousand families."

On tour in Oaxaca, said that all Mexicans are entitled to a housing allowance, and is seeking to meet this year to as many recipients, not just those environments rights FOVISSSTE and INFONAVIT, if not all segments, including including state and municipal workers and even police officers.

That resources are obtained from a source of credit repayable by the Company granted Federal Housing Mortgage.

He announced that this year it will only grant more than one million shares to reduce the backlog of housing that have nationally.

Abounded that is the south and center of the country where they are the largest deficit of decent housing.

And he said he works to bridge the gap by providing housing options in urban environment as semi urban and rural.

You will not pay relocation housing in areas at risk

The general director of the Conavi rejected this year the agency will allocate resources to perform the relocation housing located in a risk area to the impact of natural phenomena.

The official shortcut current operating rules of the Commission are very clear and no longer allows the release of resources for relocating households in risk areas.

"The relocation using the National Disaster Fund (Fonden) and through other programs scattered in different federal agencies, including the Sedatu are done," he explained.

Wednesday, July 2, 2014

Barcelona and the lesson of a harmonious city

I travel back on Thursday of last week, sick, exhausted and destroyed, but very satisfied.

My wife had "forced" me to accompany him to a cruise on the Mediterranean Sea. We were ten in all: my neighbors, cousin Henry and his wife, two other friends and we marriages. Departing from Miami, two different groups with the same destination, the city of Barcelona, ​​Spain, where he would start the cruise itinerary.

Barcelona is a beautiful and well-planned city, which has been making tangible improvements in their environment, as well as the quality of civic life, as has been made in history. While everyone admired the facades of buildings and works of Antonio Gaudi in Sagrada Familia, I could not get over my astonishment at the great city in which flowed a heavy vehicular traffic merging with the sea of ​​pedestrians moving along any street, intersection alley and any place where you could walk.

The city reminded me of New York for its vibrant crowds walking and walking, riding the subway, trams, buses, taxis, etc.. 'Maybe that's why it works so well this city', I said, referring to the urban transport system. Then the height of the residential property, approximately six homes and invariably their first floors occupied by shops open to the public, reminded me to Havana and was assured that the construction for mixed or multiple use, it is highly desirable for the operation and development of urban centers with a high level housing.

Was also important to note the flow of people to public parks at different times. Him with their dogs, the ladies with their children, retirees rebuilding the world, old men playing chess; odd old man leaning on his cane, sunbathing waiting for death to come to the bank on which it is sitting to go to sleep with it, while at his side pass youth frantic race to catch the bus they will take at school.

Paradoxically, Barcelona opened their set for me to initiate a vacation and yet I was working. Thinking if possible prosecute all that overwhelming energy to Miami for my adopted city would encompass the imminent future that awaits you, without even having avizorado properly.

I apologized to my wife on several occasions because of my reverie. The subconscious was screaming at me that the possibilities, the climate, the melting pot and the many facilities that Miami offers business, and mercantile explosion had started and we had gone together prepare the city for the rapid growth awaits you.

But to return I realize that all is well. That universities, technology, hospitals, ports, airports, overpasses, businesses, lodging, entertainment; in short capable and diligent people move together to make possible the economic miracle in Miami and only lack nuts to avoid setting a derailment.

Go a big hug to my friend and teacher, real estate lides, Martin Caparros, who turned 14 last day, their first 86 years of life.Congratulations!

Living in the city or in the suburbs?

This is the question that are asked every day all those who are looking for a property to reside in it. This is understandable, since it is not the same to buy an investment property a place to settle with the family.

Of course, today's prices and the lack of inventory of real property for sale, do reconsider any previous decision. Families must meet again and make decisions that will affect how to behave and live, that members of the group are familiar today.

The houses in the city and its immediate periphery provide opportunities latest human relations, recreation and social development, and higher than those that can be found in the suburbs, and this is one of the main considerations that the young members of the family take into consideration. Like, the city schools or those that are closer to the ring road of the city, enjoy greater attraction for the students, who, in defense of this thesis, argues most related work experience must have master concepts practicing in the same.

Real or no concept that demonstrates wield an argument for or against any thesis that concerns this subject, it will always be ambiguous, will be given to interpretations of supporters and detractors, and will have the power to create fissures in family unity and to weaken it; product that only young people tend to see the skyline from their vantage point they reach.

Today in Miami-Dade County is frequently observed the dilemma of someone who has to choose to buy a house in the city, which already has a few years of use and in which some repairs and updates should be made, or choose a brand new home, in the developments that are being erected in the city of Homestead.

Besides a high percentage of housing that is manufactured in the suburbs of the city offers greater financial facilities, as most of the applications are processed through guarantee funds for FHA mortgages; builders usually are willing to help solve some of the closing costs that every buyer has to face in a property purchase, which is already almost impossible to find in the city.

Exercise of purchase, in itself, is more relaxed not having to face competitors who pay for their purchases in cash, or uncertainty and even disappointment that entails the exercise of the multiple commercial offerings, buying a house in the center of the county face safely.

If the distance is a determining factor for you, think Metrorail station in Kendall, is just thirty minutes from Florida City Road.

Tuesday, July 1, 2014

Real Estate ticos promoted in Geneva and Dubai

Several days ago the journalist Karen Retana published in the same newspaper a note referring to the real possibilities that exist right now that Arab and European investors to invest in real estate in Costa Rica.

Some firms, such as the one mentioned in the article with which I am in contact and collaborate, began promoting from Europe and now from Dubai to Costa Rica, the market may be attractive for a country like ours that has two seas, has a geography only with its rivers and mountains, flora and fauna of global ecological interest and also a special tourist attraction.

The initiative is excellent. Europeans begin to see Latin America as a good place for investment, the Arabs barely know us, but they could invest, Americans have already invested heavily in technology, services and Real Estate, we can ask ourselves why we could not do European and moderate Arab countries.

Two important facts support that effort, first initiative of this government to establish diplomatic relations with some moderate Arab countries, which suggests in trade and investment opportunities that open from these latitudes, and moreover treaty free trade agreement being negotiated with the European community and things, the opportunity is served.

But promoting and attracting investors to the country is not easy, is costly and should make a great effort, set up an office in Dubai or Geneva require much investment and work.

For these promoters is that the most important investment rules are clear, only then can convince the investor, the Costa Rica must also do your homework, know that property prices have reached exorbitant sums in some cases, have had disproportionate increases without any foundation, along the Costa Rica this will change some habits in recruiting companies to promote their properties professionally and will have to sign the authorization to the promoter. Without clear rules, no business to do.

Costa Rica also forget that there are other markets to invest, you think for example that the other Central American countries have competitidad with ours, but forget to Panama. This country is our real competitor, remember for example when environmentalists opposed the pipeline in Costa Rica, Panama adopted the project and made ​​it a reality.

Today competition we have with this country is to pay close attention not only in the real estate field is already strong and that the values ​​of its properties are much lower and attractive, but because Panama is ahead of us as infrastructure, has a more modern, open and dynamic banking and financial system than ours, their rules of construction are more expeditious and attract more investors now Panama is offering incentives for hotel chains to invest in capital projects 40 floors and more with tax advantages that are offering 15-year extendible way to build there.

The latter I quote desataco and because we know that there are some opposed to the realization of buildings of a certain height groups, we understand that there are areas that need care and protection, but the areas studied and chosen by the Municipality of San José for buildings between 15 and 40 floors should be made to respect, it is worth remembering that there is well-founded that the city should not continue to spread horizontally because it threatens rivers, groundwater and protected areas theory , logic tells us that at least in San Jose should grow vertically.

Given the above, the executive, local governments and Costa Ricans should be clear of everything here exposed if investors claim that Geneva and Dubai and elsewhere come to invest in our country.

Thursday, June 26, 2014

The index of housing construction was 135.29

The National Statistics Office (ONE) and the Dominican Association of Builders and Developers of Housing (Acoprovi) reported that the index of Direct Costs of Housing Construction (DLQI) was 135.29 for the month of May 2014, recording a monthly variation of 2.05%. This rate is higher at 1.73% compared to that presented in the same period last year of 0.32%.

The type of housing, the calculated index was 133.80 for a standard family house, 135.82 for the house on two levels, 134.26 for four levels and multifamily multifamily 137.27 for eight or more levels. The detached house on one level had the highest monthly change growing in 2.54%

For cost groups, the main increase occurred in labor (2.20%), while the main floor was recorded in subcontracts (-0.39%).

In the last 12 months, the ICDV accumulated a 5.51% growth. This result is higher by 1.57 percentage points compared to the one presented in the same period last year to 3.94%.

The ICDV is a statistical tool that shows the monthly variations experienced by the cost of constructing four types of housing. It is updated by lifting prices of 111 items divided into five groups: labor, equipment, tools, materials and subcontracts; in a given sample of economic establishments that produce, market or imported inputs used in construction.

Monday, June 23, 2014

Housing starts in U.S. fall in February for the third consecutive month

Construction of new U.S. homes started during last February reached to 907,000 annualized units, registering a decline of 0.2% from the revised January figure of 909,000, representing a third consecutive month low, according to the Commerce Department.

In this line, the U.S. government reported that this figure is 6.4% lower than the same month of 2013, when the construction of 969,000 new homes were started.

Meanwhile, the housing building permits granted in February rose 7.7% on month, up from 1,018,000 annualized released. In addition, 6.9% exceeded the figure of a year ago.

The annualized number of homes completed in the second month of the year also reached 886,000 units, up 4.4% from the revised January figure and 21.9% on the same month in 2013.

Monday, June 16, 2014

A new neighborhood will be revealed on the shores of Biscayne Bay

The city of Miami has begun to see Edgewater as one of the areas most exclusive development, with more than 10 proposed condominium towers. For the first time a group of developers has joined famous for the purpose of illuminating this new neighborhood located on Biscayne Bay during Art Basel. Eastview Development, Mckafka Development Group, Melo Group, and The Related Group have joined forces to create an installation of radiant light from Dec. 4 to Dec. 7.

Every night from 6:00 pm to 11:00 pm, flashes of light will be scattered on the night where Biscayne Beach (Eastview Development), The Crimson (mckafka Development Group), Bay House (Melo Group), Icon will be built Bay and Paradise Bay (Related Group). The light show will dazzle the tens of thousands of artists, curators, collectors and enthusiasts in the city during the main event of world art.

The Edgewater corridor, which runs from 17th Street to 37th on Biscayne Boulevard, has received great attention due to the proposed real estate development valued at $ 1.5 billion to just four blocks. Each of the projects will serve as a work of art in its own right, this collaboration inspired by Art Basel offer a look at the buildings in order to define the new profile of Miami.

Friday, June 13, 2014

Fixed mortgage rates rise in the U.S.

The average fixed mortgage rates in the U.S. have increased for the second consecutive week, even when located near historic lows. The mortgage buyer Freddie Mac said the average rate for a 30-year loan rose to 4.20% from 4.14% last week. The average rate for 15-year mortgage rose to 3.31% from 3.23%. The price increases and interest rates that began in mid-2013 have made less affordable housing. At the same time, there is a limited supply of housing. Mortgage rates are about 0.25% higher than the same period last year. Mortgage rates tend to follow the trend of interest in government bonds to 10 years. The 10-year bond offered a rate of 2.64%, up from 2.60% the previous week on Wednesday.

Friday, April 4, 2014

Miami: new luxury market investors for Latinos

Apparently they are wealthy in this region who have been commissioned to economically lift this city after the 2008 recession .

It seems paradoxical that while walking the streets of Miami have hundreds of commercial signs in their windows that say " we speak Inglés " ( we speak English ) , as an attraction for tourists. A custom that every day becomes more common in this city, even though according to the census of 2010, a growth of the Hispanic population of 20.5 % was recorded, reaching 1.6 million Spanish speakers , compared to 1 3 million they had at the beginning of the decade.

And they appear to be wealthy in Latin America who have been commissioned to economically lift this city , after most experienced recession in the country in 2008 , driving the growth of the luxury industry in the city.

The geographical proximity to the region , climate, its beaches, great entertainment industry, its importance to financial and commercial level , among other factors, have allowed investors and people with high purchasing power of Latin American approach to these latitudes.

A clear example of this is the " Miami Design District ," a newly built neighborhood in an area that was almost forgotten in the city and specializes in luxury shopping , where in the last two years have opened shops from brands like Dior, Cartier, Louis Vuitton , Hermes and Prada , as is happening in Ocean Drive.

Armani / Casa for example, is one of the shops in the Design District , where on average about 80 % of buyers are from Latin America . "For us it is very important that market is crucial ; there is a huge percentage of customers who come from South and Central America. Without the contribution of this region do not know if Miami exist , "says Massimo Melchiorre , CEO of Armani / Casa , adding that " we do not feel the depth of the economic crisis of 2008 , because everything was supported by the Latin American "he said.

A couple of thousand dollars. The average customer spending is $ 50 billion , since when buying not only carry an accessory, but the complete equipment of lamps, tables , chairs, etc. . , Getting to spend in some cases more than U.S. $ 80 billion . "Customers want -foot tables and nothing less. In any case, they do not ask the price , but only the details of the products, " says Melchiorre .

The interior design market is dominated by Brazilians, most of whom purchase a second home in Miami and equipped with furniture Armani. Followers Puerto Ricans , Dominicans, Panamanians, Venezuelans and Argentines, who mostly buy furniture to bring to their residence in each country.

"Usually we do not ship from here, but I can say that tired arm around a container to send to their countries; that's one reason why there is not Armani / Casa in Latin America , because they prefer to buy here because it goes less expensive "emphasizes CEO of Armani / Casa .

However, such is the demand in Brazil , which will open a new store concession in Brazil , which will add to the 65 they currently possess in 35 countries in June.

Housing industry. This industry was one of the hardest hit after the crisis and the spending power of travelers from Latin America also noted . Many wealthy bought homes in the region that had not been sold in the domestic market.

Thus , architects and real estate developers wanted to take advantage of the booming , building new projects. Costa is the case of Hollywood, a new condominium located between Miami and Palm Beach, where 50% of the properties that have sold before officially launching the project , 60% of the suppliers comes from Brazil , Chile and Argentina .

" South America is very on top of everything that is going on in Miami ," stresses Moses Besusan , President and CEO of Costa Hollywood. The project, which has 304 units , business center , five restaurants, department stores , spa , fitness center and resort amenities top notch, with apartments of $ 800,000 , according Besusan , points directly to the Latin American market.

The renewal of this area was eventually forgotten by the housing market involves a revival of the economy in the sector, reviving the area with jobs and a booming trade . Currently , Costa Hollywood intends to expand to their apartments and are not just holidays but achieve transform the area into a place of permanent residence .

But these are people with resources , and resources , following the purchase of the home is the acquisition of the yacht. "Our customers in Brazil, Mexico and Venezuela , for example , buy condominiums and then a yacht. In fact , there are some who do not buy when they visit home and live on their boats , "says Alessandro Diomedi , sales manager Ferretti Group.

Diomedi adds that Latin America is the main market, where there is a culture deeply rooted luxury boats with sophisticated customers , who generally leave their yacht in Miami , where there is a huge industry , having all the amenities in one place.

"Our main plan for 2013 is to continue to attract our potential market of South America to Miami , it is very important and helps us a lot," said Diomedi .

This year , in addition , two awards of the company in Latin America , one in Lima and another in Punta del Este, a company in Puerto Rico will open and the possibility of settling in Chile and Panama were evaluated.

In Brazil, one of its strongest markets, now have a manufacturing plant , because the tax restrictions would force them to pay 90 % in taxes , so they should manufacture in the country. The Ferretti boats are specially designed according to the requirements of each client. " The interesting thing about South America is that people are increasingly buying larger boats and yacht changed every two years ," explains Diomedi . Prices range from $ U $ 500 billion , up $ 50 million, but " there are always new millionaires and billionaires , so always increase sales," he says.

Finally , this new luxury boom have led Latin Americans should not just those wealthy , but also a huge crowd of tourists annually visit South Florida and remittances leaving the city. According to the Convention and Visitors Center of Greater Miami , more than 3 million Latin Americans visited the city in 2011 , reflecting an increase of 7 % from the same period in 2010 .

Wednesday, April 2, 2014

U.S. has a policy of encouragement to the "moderate" economic growth

The U.S. Federal Reserve (Fed ) decided to keep its monetary stimulus program to purchase monthly passes for 85,000 million dollars and low interest rates to the " moderate" growth and " high" rate of unemployment.

Following its two-day meeting , the Federal Open Market Committee of the Fed first announced formally that could raise or lower the rate of bond purchases " change depending on whether the labor market prospects or inflation."

The U.S. central bank said inflation is "somewhat below" the target of 2 % and that the labor market has " shown some improvement ," but described the unemployment rate of 7.6% in March "high " .

"The committee hopes that, with appropriate expansionary policy , economic growth will continue at a moderate pace and the unemployment rate will gradually reduce ," said the statement, in which the Fed was flexible to adapt this policy to the situation economical .

The U.S. central bank has announced that it will keep the benchmark interest rates at exceptionally low levels of between 0% and 0.25% until unemployment drops 6.5% or inflation rises above 2 , 5 % .

The decision came with 11 votes in favor and 1 against , the president of the Federal Reserve Bank of Kansas City, Esther George , who said that the high level of monetary expansion has increased the risks of future economic and financial imbalances. "

Housing market recovery

In the U.S. the housing market is recovering again, areas where prices have begun to climb, while mortgage rates are at record lows . Also, the stock market on Wall Street is to pre the financial crisis in September 2008 bankruptcy of Lehman Brothers levels.

Wall Street extended its downtrend in the final stretch of the day and the Dow Jones, its main indicator, closed with a decline of 0.94 %. Despite the positive details in the U.S. , retail sales , industrial production and household spending remains weak and feeds Stealth monetary authorities not to raise too many expectations .

Agreement of a tax plan

In addition , the U.S. economic recovery remains to Congress and President Barack Obama finally agree on a fiscal and long-term budget plan for the country.

In March, the automatic budget cuts were implemented worth 85.000 million this year and $ 1.2 trillion over the next decade , which if not replaced by another agreement could seriously affect several economic sectors.

The White House wants the agreement to replace the cuts with more " sensible" is accompanied by a tax increase to help cure the growth of the debt of the world's largest economy .

Tuesday, April 1, 2014

Offer of apartments in Manhattan, at its lowest level

The market for homes in the New York island fell in the second quarter.

" The real estate business is experiencing record lows Manhattan but, surprisingly, is also seeing an increase in the number of sales ," said the firm in its study, which reports every three months.

Between April and June last had on the island, one of the most crowded in the world, a total of 4,795 apartments on the market , 31.3 percent less than in the same three months of 2012 and its lowest level since started preparing the report 12 years ago .

The current offer is far from the 12,336 apartments that came to be available in Manhattan in the first quarter of 2009, at the height of the deepest and longest in the United States since the Great Depression of the 30s crisis.

Despite the shortage of inventory, real estate sales in Manhattan jumped 18.8 percent in the second quarter to 3,144 , which is the most active spring in terms of sales since 2007 , again according to the report.

Therefore , prices rose in the last three months by 4.3 percent year on year , so an apartment in Manhattan costs on average about $ 865,000 . "After years of uncertainty among consumers that culminated in the presidential elections and the fiscal cliff in late 2012 , demand accelerated in 2013 and this slightly pushing up prices," the report concludes .

Monday, March 31, 2014

U.S. provides privatize the mortgage market

Efforts to reduce government support for the largest U.S. mortgage companies are gaining momentum , but the question now is: How much more could cost homebuyers if Congress reduces the size of Freddie Mac and Fannie Mae or the closing completely?
Recall that Freddie Mac and Fannie Mae collapsed in 2008 after posting huge losses on mortgages that ended badly too . In reality , companies do not make loans for housing, buy mortgages lenders , which are then packaged into bonds and sold to investors. For years , that helped the banks to reduce risk in their balance sheets.

Also released more money to lend , so that helped keep interest rates low . If borrowers failed to comply , the companies agreed to pay to investors because they had an implicit guarantee of the U.S. Government .

This system worked for many years until the housing market bubble burst, and the government rescued Fannie and Freddie with a bailout of nearly 200,000 million.

It is now clear that no one , especially the taxpayers, wants to revive the crisis, or pay for new bugs . And on Tuesday , U.S. President Barack Obama joined this " mantra " that calls for changes in Freddie and , similar to the Fannie bipartisan Senate plan that phased companies within five years and reduce the role of government in guaranteeing mortgage securities.

The idea of ​​reducing their size is nothing new . Since 2010, if not before , Republicans in particular have called for reducing the size of the mortgage giants . What differentiates current efforts is that the housing market has rebounded well and Freddie and Fannie , which guarantee 80% of all new home loans in the United States.

Under the latest proposals , taxpayers receive more protection , but that some costs will likely lead to the average home buyer by paying higher interest rates .

The chief economist at Moody 's Analytics , Mark Zandi, has made some estimates. If he's right , as the Senate plan , the typical homeowner with a $ 200,000 and 20 % down payment you could pay about $ 75 more per month in interest on a mortgage to 30 years, or about half a percentage point . Under the White House plan , which practically privatize the mortgage market , borrowers pay on average about $ 135 more per month.

Nobody is saying still shrink Fannie and Freddie will destroy the housing market. No doubt many other important details are unclear.

In addition to paying more in interest , borrowers could pay even more , if only indirectly, to an insurance fund administered by the government. Under the Senate plan , the Government will continue to play an important but limited role in the mortgage market by creating a Federal Mortgage Insurance Corporation (Federal Mortgage Insurance Corporation or FMIC ) .

This would be similar to the way the Federal Deposit Insurance Corporation (FDIC , for its acronym in English ) insures bank deposits. The FMIC insurance premiums charged to the industry and maintain an insurance fund , which come into play when a " substantial amount " of private capital has been exhausted , according to the Senate bill supported by Senators Bob Corker (R Tennessee and Mark Warner (D- Virginia) .

The question is what is considered a " considerable amount " . It is also uncertain how much premiums could cost lenders and how much of that cost would be passed on to borrowers.

Perhaps the most important question of all is this : If the mortgage market entirely left to the private sector would cease to exist popular fixed rate mortgage to 30 years ? This will depend largely on the creation of a FMIC , which absorb many of the risks associated with long term this type of loan , says Zandi .

If the mortgage industry is left entirely to the free market, would be less likely that lenders offering such benefits that have made the purchase more affordable for many borrowers .

Saturday, March 29, 2014

The U.S. housing market no longer has a tailwind

It is becoming very clear that the increase in mortgage rates are having a significant impact on the housing market. The latest weekly survey from the Mortgage Bankers Association (MBA) mortgage applications showed a collapse in numbers in all areas.

Mortgage applications for the week ending 6 September fell 13.5% from the previous week. It is a five-week low.

Refinancing activity fell 20% to its lowest level since June 2009. The average 30-year mortgage rate rose to 4.80% from 4.73% a week ago.

The house no longer has the wind that used to have.

The fund manager Jeffrey Gundlach, in a webcast, referred to the current bearish trend rate mortgages MBA. But more importantly, he noted that the index never recovered with other major housing indicators.

Thursday, March 27, 2014

Growing Latin American investment in Miami real estate

Almost half of the condos that are under construction in Miami and South Florida region are funded by Latin American capital , especially from Argentina , Brazil and Mexico , revealed Neiesen O. Kasdin , Vice President of the Board of Directors of the Development Authority Downtown Miami and former mayor of Miami Beach.

Until August 2013 , the housing market in Miami- Fort Lauderdale grew 15.2 % compared to the same month of 2012 , adding 170,200 million ( million dollars ) , according to a report by market researcher Zillow .

Of this amount, at least 31 % of capital anchored new investment comes from abroad , including Central and South America , Kasdin said during his participation at the Annual Conference of the Urban Land Institute ( ULI ) marketplace .

Currently , in South Florida are under construction two developments that have Mexican capital :

Vavrus Ranch is an urban development in which more than 10,000 million dollars will be invested and will seat 20,000, through the construction of 7,600 homes, 185,800 square meters of offices and a profitable campus for 4,000 students Keyser University. All this around a river that passes through West Palm Beach side. The project sits on one of the most extensive grounds of Palm Beach, for that last December the company Landstar Development Group paid 20 million dollars.

The other development is 396 Alhambra Circle, a commercial building in Coral Gables, with 25,360 m2 of leasable area , which will be the main tenant at Citibank , developed by Agave Holdings, specializing in the acquisition and development of commercial property company. Agave Holdings also owns SBS Tower, 27,700 m2 profitable in Miami.

Slim and Chapur family

In Miami, entrepreneurs like Carlos Slim and Chapur family and for several years managed property portfolios . The home of Carlos Slim 's portfolio includes some offices , while the properties of the Chapur family are related to the tourism industry , through its brands Palace Resort , Le Blanc and Hard Rock franchise .

To Kasdin , featuring Miami for Latin American capital because it is a global city of great influence in business south of the Rio Bravo. The proof is that nine of the 30 banks with foreign capital established here are Latin Americans.

Moreover, the growth of the middle and upper classes in the region makes it look as an alternative destination of residence for this year are being built in South Fliorda about 150 new condos , which will mean 20,200 residential units . " About half are projects with Latin American participation ," says Kasdin also responsible for investor relation firm Akerman Senterfitt .

Wednesday, March 26, 2014

Housing prices in the U.S. in the 20 largest cities fell by 0.1% in January

Housing prices in the U.S. fell 0.1% in January for the third consecutive month due to bad weather that has been part of the country. In total, 12 of the 20 cities that analyzes the S & P / Case-Shiller Composite 20 recorded negative rates in their prices.

In annual terms, housing prices rose 13.2% in January, down from the 13.4% increase in December.

Monday, March 24, 2014

A real commitment to lift the tallest skyscraper in Miami

The architectural competition in the United States for the construction of skyscrapers now comes to Miami , where a real estate developer plans to build a tower over 300 feet tall , which would make , to overcome all the requirements, the highest in the " sunshine capital " .

The so-called Skyrise will rise at the heart of "downtown " (city center) of Miami, with a sleek, aerodynamic design , air ramp launching spacecraft , which built, would be not only the tallest skyscraper the city, but the most striking.

With 305 meters high , the spectacular observation tower and leisure center will dominate the entire city of Miami, an initiative which , apparently , has already received approval from the Federal Aviation Administration and airport authorities.

The design of the slim metal tower , open at the sides , will be in charge of the Miami firm Arquitectonica, the same charge of design large entertainment center and casino planned by the Malaysian group Genting .

The tower will have three balconies, a restaurant , a nightclub , a flight simulator , meeting rooms and a room for interactive exhibits, among other deals, the website said Skyrise , although still some mystery about its construction remains .

The Miami Skyrise is an " iconic building of the great city of Miami, located just minutes from Miami Airport and next to the port, the American Airlines Arena" and important museums , he said.

According to The Miami Herald, Jeff Berkowitz, of Miami, is the developer responsible for the project, Tishman Construction and Coastal Construction as general contractor .

The construction of skyscrapers, still in embryo, begin in mid- 2014 and conclude in mid- 2017 , while generate more than 7,100 jobs during its development phase and another 17,000 after opening.

The plan for the construction of this amazing work of engineering will be presented on December 2 and " consolidate to Miami in the list of the world's great cities ," the newspaper said Berkowitz .

Construction of the skyscraper will have a total economic impact in Miami, during its development, more than 880 million dollars and 1.3 billion dollars a year after opening , Skyrise said in its website .

Friday, March 21, 2014

Plans $ 100 million soon deposited at the City of Magog

The CEO of the company Armco Real Estate, Peter Smale, confirmed the filing of an overall plan that he believes complies with the most recent zoning changes . "I feel the good will of the council ," let he heard.

According to the plans obtained by The Guardian , less than half of the 500,000 square feet would be demolished to highlight the richest buildings and architectural heritage plans. The developer hopes to keep the buildings around 1900 .

This real estate project , including public and residential and commercial vocations , especially include loft style condominiums , commercial offices as well as indoor and outdoor parking . Mr. Smale also opens the door for a possible convention center, artists' studios and a kindergarten .

Technological Park of international quality as desired by Magog Technopole and the City of Magog, might be accommodated in a proportion ranging from 10% to 20% of the total space . "We have discussions with Magog Technopole and others interested in establishing businesses in our walls , but nothing is signed yet ," he says .

This project is not officially launched , but the promoter has four phases totaling $ 100 million , and over a period of 15 years. " As soon as possible " remains the objective of the developers, but the file will change depending on the permissions to obtain agreements to sign and market response .

The transformation of the former Paton plant in Sherbrooke, is a model to follow, but Mr. Smale says he is not the only source of inspiration for the conversion of the former Dominion Textile.

A partnership become

Difco was sold to Consoltex in 2011, a company that works particularly in the textile sector. Still owns the old part of the Dominion Textile , she announced in September 2013 its intention to form a partnership with Armco Estate, Magog Technopole and a major financial institution to transform the old places .

Founded in 1982, Armco Capital has built a small business that has become a diversified group of companies. Consoltex is a subsidiary of Armco and Armco Capital Real Estate is a subsidiary real estate development in Quebec Armco Capital.

Over the years , Armco has diversified into commercial, industrial and institutional sectors , as well as asset management . The company continues to diversify and grow both nationally and internationally and has to date properties in Nova Scotia , New Brunswick, Quebec , Atlanta , Florida as well as Texas.

Friday, March 14, 2014

Florida real estate - perfect timing to sell

Some areas of Southwest Florida have seen steady price decreases during the first two months of 2014 . This was after an estate price run up that lasted more than two years .

Now Real Estate Agents- Brokers see more hesitant buyers . Houses stay on the market longer and prices are falling in some cases, in order to encourage buyers to make offers .

In Cape Coral, for example , one of the hottest markets in Southwest Florida in 2013 , there has been a lot of new home construction . Prices escalated dramatically in 2013 , and sellers were able to reverse the properties of high demand in a few weeks .

But that began to change in December ' 13. Now, according to the Real Estate Agent Joan Cutler, « there are between 400 and 700 decreases every day that passes . " It is also becoming more difficult to sell older homes and vacant land because of the large selection of new homes built in the last two years .

According to Michael Schneider- Christians , another agent Cape Coral, about 400 entries coming from the stream to the area of ​​Cape Coral every day , but there are only about 100 pending sales per day . This simply means a constantly growing inventory of homes , and a much more select group of buyers . It is not uncommon for the price of housing that was over $ 1.2 million have fallen back down below $ 1 million . Which is to reduce by 20 % .

Real Estate Agents- like Schneider- Christians consider this a correction in some pretty realistic increases took place in 2013 . Many waited likely will be at least two years before prices start to move up again .

A segment is not likely to change much is the market are $ 250,000 . In some provinces of Florida , who now represents the entry level , and there is great competition for newer homes sell for that price .

And real estate people also expect to see some secondary effects of the hot neighborhoods such as Naples , Fort Myers and Cape Coral other counties north where prices do not see such a dramatic increase in ' 13.

** The commercial real estate remains strong

Commercial real estate development is held back by housing characteristics . This is due to the fact that licenses should be issued , environmental studies , and extensive funding arrangements . For example, real estate specialists in the area of ​​Cape Coral expect a regional mall to be built , but it would take up to seven years to complete.

That can be a good thing for developers commercial real estate, because when residential growth slows , commercial development is likely to play catch up. The influx of new residents who came to the new home construction requires the accumulation of retail and office space to serve the new population .

The commercial sector in the last year saw a huge increase in construction in Fort Myers and Cape Coral. Permits were issued for 2,143 units in 2005 - an increase of 78 percent over 2012.

But experts believe there is plenty of demand to absorb this kind of development . Vacancy rates remained low in all sectors for trade : 3.7 percent total 2.8 % for retail, 6.4 percent for office and 4 percent for industrial and flex space.

So if there is a slight decrease in residential construction before sizzling hot areas of South Florida , we can expect commercial construction to take up the slack .

Tuesday, March 11, 2014

Florida real estate captivates Latin

Brazilians , Argentines and Venezuelans, largely but Colombians and Ecuadorians, cast his gaze northward to invest in real estate.

Lauren Bazante , real estate agent signing PFS Realty in Miami , said that after several years , the market always shows very good opportunities, although he observed, prices tend to stabilize.

After the U.S. housing crisis , blowing winds for best activity.

In fact, Bazante reported the emergence of new projects , which capture buyers with incentives like payment condo finishes and for six months, to name a few .

In fact , encouraging investment in projects new, somewhat discouraged the secondary market , then, according to the advice resale looks unattractive compared to the option of purchasing a new home , for the repairs or improvements you end up spending more .

Considers that it is possible to get good prices from $ 100,000 ( one bedroom , one bathroom ), although no - highlights - the best things in Florida.
Pembroke Pines, Brickell , Doral , Miami, Coconut Grove and Aventura, stand out as the areas that are revalued .

Brazilians are the new "ta 'cheap' in Miami

"There is a love affair between Brazilians and Miami that has helped their economies ," said Rolando Aedo , senior vice president of the Convention and Visitors Bureau of Greater Miami.

In 2013 the Brazilian dethroned as the leading Canadian and international tourists exceeded the purchase of property . Last year 690,000 Brazilians visited Miami , up 8.8 % compared to 2012 and spent an estimated $ 1,500 million, according to preliminary figures.

" For us it was very important , tourism has lifted the economy in general and in the center of the Brazilian tourism are in real estate, trade and business are opening ," says Aedo .

A year after the crisis began , the unemployment rate in Miami- Dade County hovered nearly 12 % , the construction sector began to collapse and increased the number of properties passed into the hands of banks.

In addition to geographical proximity between Miami and the main Brazilian cities , separated by about eight hours of flight on average, the high quantity of flights between Brazil and Florida contributes to the " heavy flow of tourism that is observed now," says the Consul General of Brazil in Miami, Hélio Vitor Ramos Filho.

Currently there are 123 weekly flights between Brazil and Florida, and " the Consulate General has information suggesting that this offer will be extended " by the end of the year.

Sustained economic growth in Brazil is also a factor , since today most Brazilians can travel abroad than 10 or 20 years ago. The foreign currency exchange , finally, always influences travel decisions of the nationals of any country, and the same is true for Brazil , illustrates the diplomat.

Aedo describes as " incredible " the impact of the Brazilian economy in South Florida and forecast to have an explosive growth in tourism if the U.S. government approves Brazil visa - waiver program . In this match the Brazilian consul.

"If Brazil was included in the visa - waiver program would probably have a blast of Brazilian tourism to the United States. Requiring visa remains a barrier for many potential travelers of Brazil to the United States because, in Brazil , the application process visa may represent additional travel costs and domestic accommodation, increasing significantly the cost of visit, " he explains.

Log in to the program is a decision of the U.S. authorities, so the Brazilian diplomat believes it is not possible to know if the Brazilians will benefit from it this year. But the issue is the subject of ongoing dialogue between the foreign ministries of both countries , " new developments can occur throughout the coming years."

A positive aspect that stands out is that the U.S. diplomat has reduced the waiting time for a visa in Brazil , " which has resulted in an increase in the number of Brazilian tourists " .

Aedo explained that in 2013 several systems were implemented to handle more tourist visas and other categories and mentioned that the increased number of staff at the consulates to process visas , thus the waiting time down from 100 days at the beginning of this year to five days.

for Sale

The purchasing power of Brazilians has benefited the other pillar of the Miami economy : real estate. In 2012 outperformed the Canadian and international buyers in South Florida.

Liza Mendez, president-elect of the Realtors Association of Miami and the company owns Pedro Realty International, says that Brazilians accounted for 60 % of international buyers in Miami last year.

Hélio Vitor Ramos Filho said that in recent years there has been an increase in purchases of property by the Brazilians, " a phenomenon that can be attributed in part to the financial crisis of 2009 and the consequent cheapening of properties in the state. few Brazilian cities have also suffered with the overvaluation of real estate " , which increases the appeal of Miami for their low prices .

According to available figures, 61 % of these " new neighbors " bought condos (in 2012 it was 53% ) . 42% acquired the property for holidays, and 67 % prefer the Miami -Fort Lauderdale.

" The impact has been very positive because it has helped boost the real estate sector . Still coming , Brazilians are strong and that creates a chain of impacts in restaurants and shopping centers ," he says .

Monday, March 10, 2014

Luxury real estate restarts the United States

Florida sales above $ 5 million are booming.

This area , brand new, is located in the upscale neighborhood of Miami, one of the fastest growing American cities . It consists of a main property , a house for guests and a large indoor pool. Nearly 1,000 m2. Everything comes fully decorated. There are even paintings on the walls : two Picasso and Rembrandt. A gem for which the developer calls the tune of $ 28 million . Very expensive ? Maybe. But the United States , the market for luxury real estate is in full reboot. Florida 697 transactions exceeded five million in the past twelve months , an increase greater than 40 %.

As demand recovers, prices are on the rise. " + 30 % last year but we have not yet returned to the heights of 2007, before the crisis ," said Betty Graham. Inflation is seen in New York where buyers are snapping up apartments in three towers currently under construction in Manhattan. In the second quarter , the average price of a condominium in these new programs has climbed 7.93 million against 5.76 million in the first quarter , an increase of 37%. In early 2012, the daughter of Russian billionaire Dmitry Rybolovlev , bought a pied-à -terre in Manhattan for $ 88 million .

Three cities are most affected by the soaring prices : New York, Los Angeles and Miami. Destinations that attract billionaires from around the world . Thus, a French just paid $ 40 million for a house overlooking the beach in Malibu , near Los Angeles. A Chinese made a check for $ 34 million for a property on Sunset Boulevard in Beverly Hills. A very visible internationalization Florida : "30 % of real estate sales are made with 14% foreigners with Canadians ," said Betty Graham. With community groupings : many Chinese buy beautiful houses in Pasadena, northeast of Los Angeles. Others have difficult to understand behaviors. " The parents of a Chinese student pay him a suite 2.5 million in a Ritz-Carlton Hotel in Los Angeles, because it is close to the university ," said Betty Graham.

Versace 's house in Miami hard sell

Nonetheless, for these high-end goods, any failure is unacceptable . Thus, the beautiful Miami home where designer Gianni Versace was murdered in 1997 has struggled to find a buyer. Simply because if it is close to the sea it is also located a few meters from a busy road . It is therefore difficult to secure access . Result , the current owner Peter Loftin , who went bankrupt , put it on sale there six months.

Population: Florida will soon surpass New York

At some point in 2014 , Florida will surpass New York in population terms , becoming the third most populous U.S. state , after California and Texas.

This turning point illustrates the growing influence of the Florida approach 20 million.

" Florida is a kind of icon of the 21st century with regard to changes in population and the increasing role that Latin America plays in the transformation of the country ," said James Johnson, a business professor at the University of Carolina North . In the 21st century , Florida will be what were California or New York in the 20th century , he predicts .

Florida includes in its territory several strong trends in the United States : the aging of the population , a service-oriented with lots of low-wage economy, and ethnic diversity fueled by the growth of the Hispanic population. As the entire United States, Florida is a destination for migrants and those who want to start a new life .


29 Electoral College votes vested in Florida are among the most coveted in the presidential election because Florida is the largest state of the country with no clear political affiliation.

New residents of Florida, as Michael Richards , 47, cited a series of reasons for their decision to settle in this state : climate, no local income tax , the availability of unskilled jobs and proximity to Latin America and Europe .

"We agree to live three months of hell ( summer) for nine months of good weather ," says Richards.

Although Florida is the U.S. state with the most residents over the age of 65, the elderly account for less than 10 percent of the new residents of the state for several years. The majority of newcomers aged 25 to 64 years , according to an analysis of census data conducted by the Associated Press. About 40 percent of the new residents are under the age of 25 years.

The population of New York is not declining, but the population growth in Florida is much faster. More than 537,000 people have settled in Florida last year, and about a tenth of them came from the state of New York.

As of July 2012, two states had a difference of about 98,000 residents : 19.6 million in the State of New York, compared with 19.5 million in Florida, according to census data published earlier this week .

Saturday, March 8, 2014

Summary of the day - Economy

Nestlé reduced its stake in the world's number one cosmetics, French L'Oréal. Vaud food giant the back of 29.4 % to 23.29% as part of a transaction involving 6.5 billion euros ( nearly $ 8 billion) . Speculation about the future of Nestlé's participation in L'Oréal, 40 years old , were rife for weeks. The ax fell Tuesday after the publication by the French group a further increase in net profit and sales in 2013.

PHARMA : Despite the difficult market conditions in the United States , Actelion saw its net profit jump 49% year on year to 453 million francs in 2013. Confident after launching Opsumit successor to its blockbuster drug Tracleer , the Basel biotech group raised its outlook for 2014. Sales of Basel laboratory are they , expanded from 4% to 1.78 billion francs. Expressed at constant exchange rates , growth was 6% despite the negative impact of the strong franc and pressure on prices in Europe.

REAL ESTATE : Real estate transactions declined in 2012 , said the Cantonal Office of Statistics ( OCSTAT ) . The number of transactions on single-family homes was the lowest since 1996 and the lowest land since 1992. The 1945 real estate transactions recorded in 2012 represent a total of 4.5 billion francs. If the total value of transactions is similar to that of 2011 , the number of folds . The apartments for sale and Villas are the objects most frequently traded . They grouped 81% of transactions and 60 % of their value .

CONFLICT TAX: A former UBS banker intends to plead guilty in his trial before a court in Fort Lauderdale, in the U.S. state of Florida. Justice of the United States accuses Martin Lack of helping U.S. citizens to hide money from the IRS. Documents sent last week , however, not reveal the points on which the accused intends to plead guilty. A hearing is agendée 26 February.

INDUSTRIAL EQUIPMENT : The St. Gallen manufacturer of industrial equipment Bühler saw earnings decline by 20.9% last year to 123 million francs. Sales , already published in late January, was down 3.6% compared to 2012 , to 2.32 billion francs. The decline in revenue is relative, however . He had indeed jumped 13% in 2012 compared to the previous year.

AIR TRANSPORT : Swiss has slightly increased its passenger numbers in January. The airline controlled by the German Lufthansa Group welcomed last month to 1.14 million passengers in its devices, an increase of 0.3% yoy . At the same time , the number of flights has however declined by 2.4 % to 11'883 . The company also had its best fulfilled . The occupancy rate , an important indicator for the industry , rose 0.3 points to 77.6% for all flights .

MATERIALS : Glencore Xstrata has significantly increased its production of copper last year. The Zug giant raw materials extracted no less than 1.49 million tonnes , 26 % more than the year before . In its production report for the fiscal year 2013, the world's leading commodity notes that copper extraction is a reference activity . Multinational based in Baar has further strengthened this segment thanks to its merger in May with its neighbor, the mining group Xstrata .

INDUSTRY: Daetwyler separates its business trading, manufacturing and services grouped within the Maagtechnig sector. The Uri industrial conglomerate sold the unit for an undisclosed sum in Dutch society Eriks . The company based in Altdorf motivates the sale by its desire to refocus the division of technical components (Technical Components) on distribution activities , which generate higher income. Daetwyler added that the segment's operating margin is lower than those of competitors.

HOTEL : The Fribourg holding AEVIS raised its tender offer (OPA ) on the Victoria -Jungfrau luxury hotel group Bernese Collection ( DCV) . It now offers 310 francs by VJC title , against 305 francs before, and thus on the same level as the supply of Swiss Private Hotel . AEVIS , including the umbrella group of private clinics Genolier ( GSMN) , also acquired the 15.6 % stake in the hotel group Terramaris established in Interlaken. With participation increased to 29.16 % AEVIS becomes the largest shareholder of VJC .

CHEMISTRY : The Basel chemical group Clariant sells its water treatment in Africa in South African society AECI . The agreement relates to a sale price of 34 million francs in cash , and should be finalized by the end of the second quarter, he said. Activities offered for sale in 2013 have reached a turnover of some 41 million francs. A total of 210 employees in Africa are affected by this transaction.

BIOTECH : Basilea has significantly reduced its loss in 2013. She came to CHF 33 million , against 53 million a year earlier . At the end of the year, cash and other financial resources of the biotechnology laboratory in Basel were part 273.9 million , 70.1 fewer than in 2012. The operating loss also decreased to 33 million against 50.8 million in 2012. Its revenues for its part registered 41.4 million francs, against 58.9 million in 2012. This decrease was partly due to an agreement with the company Stiefel for treatment.

FED: The new President of the Central Bank of the United States ( Fed ), Janet Yellen , defended Tuesday " continuity " of monetary support the U.S. economy , noting that the recovery in the labor market remained " incomplete ." " I expect a great deal of continuity in the approach to monetary policy," she said before a U.S. congressional committee in its first report to the head of the Fed.

BANK : Back in the green last year , the British banking giant Barclays will have to cut its workforce in the sickle while spoiling its star bankers. It is thus immediately attracted strong criticism. Antony Jenkins, the CEO of the bank shaken by a series of scandals including the manipulation of Libor interbank rate in 2012, said Tuesday the elimination of 10,000 to 12,000 additional jobs this year. Of these, 7,000 positions will disappear in Britain .

ECONOMIC FORECAST : The OECD acknowledged underestimating the magnitude of the economic crisis between 2007 and 2012 , and suggests ways to improve its forecasts in the future. In a report it calls " post mortem " on the crisis , the Organization for Economic Cooperation and Development , the growth forecasts are among the most followed in the world, for example, writes that " when the financial crisis broke , the forecasts have been revised downwards systematically and fast. However, actual growth rates have still been significantly lower than expected . "

Friday, March 7, 2014

The decline and fall highlights the rising ... rising!

▪ When philosophers say that " Fear is the enemy of reason" - an axiom that applies to both investment and our private lives - they are still below the truth.

Therefore, the concept of " fair price" never exists for financial and real estate markets, the fear of losing is always in competition with the fear of missing the rise.

Human fear is one of the phenomena that has allowed so many quality assets - like gold - to collapse during the past decade ... because of fear, there are many in the current period , which makes it attractive to many markets.

However, we believe that sooner or later gold will resume the upward path . At this time, you will see that many investors will be scared to miss his ascension !

Why ?

Just because our planet is now completely deregulated economically with sovereign debt . They no longer have a choice: we must make use of massively printing money .


Accumulation of taxes, conflicting measures, financial repression ...
It is time to act !

Find out how you can save thousands of dollars on your tax bill , effectively and legally : follow the specialist ...


▪ Consider the example of Japan
The country comes to print hundreds of billions to lower the yen's value and to better export.

Result: The Japanese stock market rises again as a part of those billions from the printing happens on financial and real estate markets which eventually gone back up.

The people who will pay for the crisis are those who put their money at 2% or 3 % with actual inflation more important ... not to mention insecurity deposits , where investors borrow will be increasingly winners with the depreciation of the value of their loans.

Therefore, quality assets have our preference , such REITs , forests , actions , vineyards, diamonds, etc. . whose value will appreciate further .

Does this mean that everything is now finally settled at international level?

Nothing is less certain! Indeed, if the United States, China and Japan have already printed hundreds of billions of paper money , Europe , she has printed that EUR 1,500 billion for the moment , where need at least 6000 .

But do not complain ... Initially , the Germans did not want to print even a few cents - but they had no choice, because when threatening to bankrupt state must act quickly !

Taxation: the turn of the real estate now!

▪ What to say about the market yesterday ? Not much , my faith. The statistics were not hair-raising , the Fed did not ad -shattering , the ECB has not proclaimed breathtaking action ... and U.S. markets remained in bed, Martin Luther King Day forcing .

The CAC 40 has stood still , with a decline of 0.11 % on the day , to 4 322.68 points, only two billion traded . Not better in London, where the FTSE finished on a strictly equal score, 0.11 %, while the DAX in Frankfurt fell by 0.28% .

Since markets do not have a lot of opportunities , let's look at another aspect of the investment - taxes ... or rather taxation !

François Hollande beautiful game that taxes have become " too heavy " and a tax break is the program ... it gives with one hand and takes with the other .

Look for example real estate : land transfer will undergo an increase of not less than 10% in a few weeks , from 7 % to 7.70 % on 1 March 2014. This concern overcharged transactions signed after this date ... even the promise of sale was passed in 2013 !

▪ Worth Tax clubs
Philippe Béchade Pitbull explained to readers that " this new tax truncheon blow timely since the number of transactions of the former was already in freefall in 2013. Was time to give the coup de grace to a property market dying to end suffering ! There was an urgent need désolvabiliser a little more first-time buyers (now already very rare ) in order to permanently lock in the cozy status (co) locataires.L State ensures that the candidates to the property - and not happy heirs - will no longer disturb their banker to finance an unexpected extension after already difficult to obtain mortgages they prefer waive any transaction if the seller does not agree to make a move for the buyer to honor its envelope out . "

" Curiously enough, I think that person Bercy has never established a link between the inexorable rise in the cost of housing and the greed of the state," continues Philippe . " [ The state ] levies a tithe increasingly exorbitant when a real estate transaction is concluded ( because the higher the rate of rotation of a well accelerates plus tax mechanically explode price ... 50% after six disposals / acquisitions and now after 5.5 ) . perhaps the brightest who excel in the art of puncturing we have a housing function and therefore have no idea of the impact of taxes they concoct the purchasing power of the taxpayer or lambda activity in the housing sector as a whole . "

" Let their most concrete thing : an apartment worth 400,000 euros 428,000 euros returned after transaction costs under the old system , the same property will cost 431,000 euros integrating enhancement tax and VAT on the deed. And hop, 3,000 euros more that have cost the ink needed to print the decree of implementation. Say, it's better than the stock market in fact! "

"Now," contlue Philippe , " beyond the urgent need for recipes that taps the state ( he missed 14 billion euros from the assumptions on which was built the 2013 budget , the fault to an absent growth) order occult is it not euthanize real estate as an investment vehicle ? "

After the exchange, life insurance , attempts on the PEA , real estate now ? Savings of French is too good for our leaders resist the temptation to draw to fill their empty drawers.

Except that it goes a little further than just emergency bailout . For thus , politicians also make sure to keep their citizens in dependence : the more it is difficult to be you yourself retirement savings, home equity , a legacy for your children ... the more you need the Government to meet your needs ... and more likely they are to be re-elected.

Friday, February 28, 2014

House price rise in Florida

Prices of residential properties in southern Florida went after banks make a para © synthesis in foreclosures after discovering irregularities in documents used in court . Some banks have begun again foreclosures, but the pace is much mores slow.

A report by the Automobile Association of Realtors Estate Miami unveiled this time trend as banks will continue executions mores sooner or later and will return cost-to undergo changes as this pause also produces an increase inventory of properties - the buildup of properties that still have not been put on sale . With fewer low-value homes available , those with median prices increased .

The average price of a detached house in Miami -Dade arrived in October to $ 199.100 , s 5.9 % morethan in September. The price of condominiums in Miami -Dade climbed 8.4 % in the month , to $ 107.700 .
In Broward, single-family homes sold for a median price of $ 217.900 , up 1.7 % for the month. However, in Broward condominiums continued to fall in October, and the median price 5.7 % LOW .

The long- term brake on foreclosures is not clear. Some experts predict a waiting period of year or before the local housing market returns to normal , while others believe that the effects will be pause less traumatic it will attract the investment foreign and cash transactions.

Wednesday, February 26, 2014

Invest in U.S. real estate: ready for the paperwork?

Low prices of real estate in the United States attracting strong interest from investors in Quebec . The prospect of gain in the medium term is enticing.
But in reality , the cost and remote management are grounds for discouragement.

Claude Parent has acquired several properties in Florida after the real estate crisis of 2008. It's a geek . He leads the company Via Loans , specializing in private mortgage financing.

"I work in real estate here . I went to the United States in 2009 because prices were low . But this is not necessarily a sign of profitability, " he warns.

Three years later , Claude Parent made ​​his accounts. " I have two properties . I'll keep one and sell the other. "

Profit for the operation? "Zero , he says. Whatever the property you are buying , municipal taxes are high, condo fees also accounting costs more, and you must live with great unknown : the local market. Each time , suddenly you have to hire intermediaries. "

Claude Parent has a single family home in Fort Lauderdale. In 2012, he will have paid $ 8,000 in taxes, including municipal taxes , school and water. "It was $ 4000 when I bought in 2009 ..." , he cowardly .

Maintenance costs are another cost in money and in time . "I'm here , the building is there. What do I do? I hire someone from a distance. When there are more complex work , must obtain permits . And it is much more difficult there than in Quebec. "

Cumbersome administrative formalities impressed Claude Parent. "There is a lot of paper handling . Americans have more paperwork than us. A mortgage contract , a purchase contract, lease ... Everything goes through lawyers. Litigation risks are therefore multiplied. It is necessary that lawyers work ... "

And on the insurance ? "This is at least twice more expensive than Montreal . Once there was a hurricane , prices rise ... and when there is none, as insurers are raising their prices to make reservations. "

Exasperated by the remote management

All these cumulative costs make the costly operation. Claude Parent estimates the annual costs of ownership in Florida at least 6% , even before a mortgage include in the calculation. " You will get a rent at attractive prices , but the various high costs eat up . It was nice to easily rent is barely profitable. "

Even if one hopes to gain from the sale of his property, Claude Parent knows that his income is uncertain. It must take into account the exchange rate, and these uncertainties. "Currently, the U.S. dollar is below the Canadian dollar, but it is possible that he put together when we sell. " That's what cost him dearly at previous sales. "I lost my profits because of the exchange rate. "

Gourmand time and costs , real estate investment in the United States should first interest those who can go on vacation. "Buy to make it your second home , but not to sell quickly , recommend Claude Parent. And if it's only for one week a year , better rent ! "

Claude Parent is not ready to reinvest in the United States . "I got tired of remote management over costs . Real estate, when you do not take care on site, requires someone to do it for us. In addition, one must know the tax and legal rules. Having a local partner is still the perfect solution. "

The Montreal businessman return to vacation in Florida. But the future is on the Quebec market that will grow its business. "I thought it was a good business opportunity , but in the long term , investing is more profitable here than there. "

Tuesday, February 25, 2014

Miami real estate market continues to grow, prices rise 14 consecutive months

According to the Miami Association of Realtors, after the second record sales year, the real estate market in Miami started strong with sales rising and prices amid limited supply of 2013 .

Residential Sales of Miami-Dade County increased 7.5 percent in January compared to the previous year. Sales of existing single-family homes in Miami -Dade County increased 16.4 percent , from the 892-1065 . Sales of existing condominiums increased 0.3 per cent from 1121-1124 , year after year.

" The continued strengthening and improvement of the real estate market in Miami is generating excitement and attention both nationally and internationally, " said 2013 President of the Board of the Miami Association of Realtors, Natascha Tello. " We expect prices to continue to rise due to the high demand that exists for sales and rentals. The more new listings that come on the market , still there is insufficient supply to meet consumer demand and less significant results for new ranges low price . "

Sales of all existing single-family homes Stateof totaled 13,679 in January, 11.7 percent compared to a year ago , according to the latest data released by Florida Realtors. Sales totaled 6,670 condominiums state , 2.0 percent from January 2012. Nationally, sales of existing single-family homes , townhomes , condominiums and cooperatives rose 0.4 percent from December and were 9.1 percent higher than they were in January 2012 , according to the National Association of Realtors.

Demand is expected to continue to promote the appreciation

Miami home prices rose again in January , marking 14 consecutive months of appreciation for single family homes and condominiums. The median price of condominiums in Miami -Dade , which has increased each of the past 19 months , sales rose 24.1 percent to $ 155,000 compared to one year earlier and fell 4.9 percent compared to the previous month . The average price of single family homes sales increased 14.8 percent to $ 194,000 year -over-year and decreased 9.4 percent compared to the previous month.

The average selling price of a house in Miami -Dade County dropped 2.4 percent to $ 308,978 . The average selling price for condominiums increased 17.2 percent to $ 290,378 .

Sales prices in Florida and the U.S.

State median home price in December rose 12.4 percent to $ 145,000 for single family homes and 18 percent to $ 112,000 for condominiums , according to marketing research and socio 10K data industry of Realtors Florida and department and vendor analysis. The national median existing-home for all types of housing price was $ 173,600 in January , up 12.3 percent from January 2012, according to the National Association of Realtors (NAR ) .

"The current robust market functioning Miami is not only drive prices but also create a seller's market , " said 2013 Miami Association of residential real estate agents I. President Fernando Martinez. "Properties that cost right sell very quickly and generate multiple offers. There are still good opportunities, but buyers need more attention. Sellers who have been reluctant to put properties on the market should consider doing it now . More listings are needed to meet demand .

Inventory Shortage Persists

Active listings at the end of January were 10.7 percent lower than they were in January 2012 , when the market was already experiencing a housing shortage . The inventory of single-family homes fell 12.9 percent , while that of condominiums fell 9.3 percent. Currently , there are 5.3 months supply of single family homes and 6.0 months supply of condos in Miami -Dade , representing drops of 20.4 and 11.5 percent respectively. Currently , there are 12,211 active listings in Miami -Dade County . Total housing inventory nationally fell dea 4.9% in late January and was 25.3 percent below the levels of a years ago , representing a 4.3 -month supply .

Less sales drop

Strong demand for property ( REO ) property of the Bank and improved processing of short sales continues to yield absorption of distressed listings and contribute to price appreciation .

In January, 43.2 percent of all closed residential sales in Miami -Dade County were distressed , including REOs ( bank properties ) and short sales, compared to 59.2 percent in January 2012 to 41.1 percent previous month. Nationally, abandoned homes accounted for 23 percent of January sales .

Cash sales reflect the presence of international buyers

In Miami -Dade County , 64.7 percent of total closed sales in December were all- cash sales , compared to 69.8 percent in January 2011 and 63 percent the previous month. Cash sales accounted for 49 percent of single-family and 76 percent of condominium closings . Nearly 90 percent of foreign buyers purchasing characteristics Florida fully effective . This reflects the much stronger presence of international buyers in the real estate market in Miami - all- cash sales comparison nationally explained 28 percent of transactions in January, down from 29 percent the previous month and 31 percent in January 2011 .