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Archive for the ‘International Real Estate’ Category

Finding a house is one of the toughest tasks one can have. There can be two situations for this either you want to buy the house or you want to take it on rent.

If you would like to buy or sell a house than there is only one person who will provide you with best advice and that person is the estate agent. These real estate agents are always updated with the properties appreciation and depreciation. Taking their help to find the home for yourself will simplify your search and also will help you to decide upon purchase of home with best deal available.

Residential international real estate covers a large portion of real estate world. Nowadays, there are many websites on the web related to this where you can find large choice of residential properties that are engaging in the local scene or on a international level. These sites have proved themselves to be very helpful to people seeking for houses as they have large information of international real estate listings.

Using these kinds of websites for the search of perfect home has numerous benefits; some of them are listed below:

? More Choices: You get number of choices with total information about the properties that meets your expectations. In fact, sometimes even you get to know about options which are officially before its availability in the market. You can just browse through options available with their respective prices listed on the site and shortlist some options for yourself.

? Quality Homes: The homes available through real estate?s are always of better quality as they are well aware of plus and minus of the properties and the areas. This can be a great help for taking such an important decision of purchasing a home, which is a one-time investment.

? Saves Time: Searching through websites is always more convenient than personally visiting different places. It saves a lot of time. Moreover, here you can search for home in different cities or countries. You can also search according to your budget or other requirements.

? Pricing: On these sites, you will find property details along with their respective prices so you can make your search ensuring that stands in your budget.

? Negotiation: Dealing through this site will give the benefit of possibility of negotiation. The brokers here will be experienced enough of negotiation techniques and to get you the best deal available.

Also, in this website, you can advertise your property for sale through our quick and simple member registration process. This makes easy for you as you don?t have to go personally to sell your property.

Searching on internet is very effective and helpful for both buyer as well as seller. These kinds of sites also have international real estate listings for properties for rent which makes very busy to find home on rent according to the city or area needed. You can interact directly with agents and owners of properties through this site which will save your money from a brokerage point of view. It definitely narrows down your search to help you find your place in the world.

Looking beyond our borders at the international real estate market might make sense for a second home or an investment. My wife and I recently bought a small lot a hundred yards from the Pacific Ocean in Ecuador, with the idea of having a second home there. The price, $3,000, shows why people look to other countries for real estate. Where in the United States can you buy a lot near the ocean for even ten times that much?

On the other hand, there are some risks in investing in property abroad. There are some things to think about that you don’t normally have to consider when buying real estate in the U.S. And unfortunately, there are even some hard lessons to be learned from our own experience.

International Real Estate – Some Considerations

At the time we bought the property, in early 2007, Ecuador had been experiencing an economic boom for years. This was partly because the country adopted the U.S. dollar as it’s official currency in 2001. Inflation was no longer an issue, and businesses were starting everywhere. New subdivisions – like those in the 1950 here – are still popping up around most of the major cities. Easier financing has even put more cars than ever into all those new driveways.

Political leaders have seemed to come and go too fast over the years, but even when the process was chaotic it was mostly peaceful. Ecuador was a stable democracy that seemed to be heading in the right direction. Most of the changes that had happened since my wife grew up and went to university there were good changes. Then came Correa, the current president.

Apparently the system wasn’t as stable as we thought. Earlier this year, he prevented many opposition members of congress from entering the parliament. Then there were elections to create assembly for the rewriting of the constitution. The assembly (now elected) could dissolve the congress or even hand over dictatorial powers to Correa. The public, unfortunately, has mostly been on Correa’s side.

Unfortunately, I say, because Correa seems to be doing many bad things. He openly admires Hugo Chavez, the socialist leader of Venezuela, and Fidel Castro. He talks about a “new socialism.” Already he has told international oil companies which operate in Ecuador that they will not be getting all of the profits promised for their investments.

As you can imagine, many wealthy Ecuadorians and foreign companies are already taking their money out of the country. There are rumors that Correa plans to steal the real estate owned by foreigners (I won’t use the euphemisms – theft is theft). It is rumored that he may even steal and “redistribute” the second homes of Ecuadorian Citizens – especially those along the coast. This could include our property.

The obvious lesson? When buying international real estate, you need to more than research property prices. You need to take a close look at the political climate of the country. The law may be clear and allow for foreign ownership, but laws can be changed. Some other tips:

1. Hire an attorney to be sure everything is done correctly. Have a list of questions for him or her, so you know exactly what you are getting into.

2. Investigate what it takes to sell the property. You may not want to keep it forever. This is a legal and market matter. Are there any legal or tax issues you need to know about? How long does it normally take to sell a house?

3. Know before you buy what the other costs will be. How much are taxes? How much will you have to pay for basic services like water and electricity.

International real estate may be a great investment, depending on where you buy, how you buy, and what the market is doing. Looking overseas can also be a way to afford a second home in a beautiful place. But take some basic precautions and learn from our lesson.

Since 2008 the Detroit real estate market has shown a major decline in property value. This is a result of the automotive industry tanking. Many have said that it is over for the city. However, international real estate investors have sought after Detroit’s property goldmine. “You see one man’s trash is another man’s treasure”. And I wouldn’t just label this a piece of treasure, this is really a goldmine. International investors are not only purchasing groups of homes at a time. Some of them are even buying sight unseen because the cost is so low.

I personally have witnessed the massive amount of investors that come from all over the world; countries such as England, Switzerland, Dubai, and Australia have taken full advantage of the Detroit’s real estate market. The downward trend in real estate has effectively allowed almost anyone to become a real estate guru. Single family homes are priced as low as $5,000 (real estate has not been this low since the 1800′s) and international investors are purchasing 5-7 at a time. And before they finalize the closing, they are ready to purchase the next 5-7 properties.

I’ve come to the realization that international investors are not only smart they recognize the quality of their investment. Purchasing property is a tangible investment that pays for its self sooner than later. The ROI (return on investment) is at a least 13% which is nothing short of amazing. If you think about it, it becomes almost the safest way for investors to “See, Touch, & Feel” their money working for them. First time investors are also following in the footsteps of those who come from abroad. But this gravy train will not last forever. It has been predicted that the market will increase within the next 24 months. So if you have any reason why you should not invest in Detroit property, let this be override any fear that you may have. If not, you will be very disappointed in the future that you let this slip by.

The city of Detroit has been through a rough economic structure that has fallen but now it’s quietly rising because of the money that’s returning to the city. Technically investing in Detroit real estate is almost like giving back to the city. Investors are not only giving back, but they themselves are a part of history. A history that will not repeat itself. Again I urge for you to take advantage of this time. This will almost never happen again.