News

Investors get high on housing slump

Ivan Radford — 17/11/2011 11:27:00

Photo credit: HUS0

The housing slump has led to an investment high around the world. While overseas buyers take advantage of cheap US real estate, foreclosures are becoming farms as drug dealers in Las Vegas turn empty houses into cannabis factories.

Police have uncovered this practise in the past year, taking down over 150 indoor farms in Nevada in 2010 - up from 18 houses in 2005, according to the U.S. Drug Enforcement Administration, as the increasing number of empty homes provides more opportunity for dealers to turn bedrooms into greenhouses.

For cash-strapped Americans in a jobless economy, it's a profitable trade. Marijuana grown outdoors in Mexico sells at approximately $750 per pound, the DEA told The Los Angeles Times, but a pound of indoor-harvested cannabis (kept under controlled heat and lighting) can reach up to $3,000.

Indeed, Californian authorities found 791 indoor sites last year alone - although more farms are now being found in other US states, as dealers hunt for cheaper house prices.

"With this [housing] market, it's almost a free-for-all right now," Metropolitan Police Lieutenant Laz Chavez told Review Journal.

A similar trend is happening in the UK too, as cannabis manufacturers take their lead from the housing market. Since the economic crisis, dealers have started to rent rooms to grow cannabis indoors. As American farmers move to cheaper property markets, UK dealers have headed to more affluent areas as the pot trade oddly parallels the country's booming buy to let industry.

Middle-class homeowners feeling the squeeze have welcomed the extra cash income from the renters, who use the homes to hide from the police as they focus on more suspect properties. "We've been surprised at the dwellings where we're finding cannabis," Detective Chief Inspector Martin Hurcomb commented on BBC Radio 5 Live. "It's not just in backstreet houses but also in expensive apartments and million pound homes."

While drug dealers and homeowners are both illegally benefiting from the global property market, legitimate forms of buy to let investment are proving equally profitable.

Almost 4 million properties were in the private rented sector last year and demand for rented property keeps growing. Agency network Countrywide recently highlighted that rental properties now take an average of just 12.7 days to be let, with an average of five prospective tenants competing for each property.

Indeed, rental rates are rapidly increasing, reaching record highs of £718 a month in September, according to LSL Property Services. In terms of location, the North West of England has been pinpointed as offering some of the best opportunities for investment within the UK seeing a 20 per cent rise in rents in 2011 due to the unprecedented demand for rental accommodation.

Investment consultants Property Frontiers comments: "Those with enough capital to invest in the growing buy to let arena are benefitting from some of the highest monthly returns on record."

With rental demand still outstripping supply, the message is that you don't have to be a criminal to legitimately profit from the current property slump.

Looking to weed out a sound property investment?

Browse our listings of houses, apartments and other buy to let investments that won't go up in smoke:

http://investment.themovechannel.com/property/buy_to_let/

Michael Jackson’s house – yours for $23.5m?

Ivan Radford — 11/11/2011 10:11:00

Photo credit: Julien's Auctions

"Baby be mine" may be the first thing that many fans think when they see that Michael Jackson's last house and its contents are up for sale.

The contents of the Holmby Hills Mansion where the King of Pop died will be auctioned off on Saturday 17^th December. Various items, including antique furniture, artwork and sculptures, most of them not unbreakable, will be on the block, but most attention will be drawn to the bed on which Jackson died.

The deathbed and the singer's name are not explicitly mentioned in the lot of items by Julien's Auctions, but the announcement does mention "an elaborately carved and gilded Louis XV headboard" for $4,000 and other "highly collectable modern furniture" up for bidding. For some devoted members of the public, there ain't no sunshine now he's out of their lives; if they're keen to possess a piece of Jackson's property, this is it.

A small blackboard, on which someone wrote "I (heart} Daddy. SMILE, it's for free", will also be available in the auction, reports the Associated Press. It is expected to fetch at least $400, but bidders won't stop until they get enough.

The house, which is located on North Carolwood Drive, is listed separately for sale by Movoto. The mansion was Jackson's residence from 2008 until his death in June 2009. He lived there with his three children, renting the property from Ed Hardy, CEO of Hubert Guez. It currently has an asking price of $23.5 million.

It's not the first time that Guez has tried to sell the Jackson real estate. The 54,885 square foot home, designed by Richard Landry, was listed following the star's death but no-one was willing to say "The house is mine" as the six bedrooms, 10 fireplaces, private cinema, grand piano and swimming pool failed to attract a buyer.

But it's not because the property is the work of a smooth criminal or an untrusted developer. Hardy, giving the sale one more chance, blamed the lack of a buyer on a woman selling celebrity house maps outside, and told her to beat it.

The auction's announcement was revealed on the day that Dr. Conrad Murray was convicted of involuntary manslaughter for the singer's death. AOL reports: "At the very moment on Monday that Dr. Conrad Murray was convicted... reporters were eerily taking a private preview tour of the three-story home."

An open exhibition of 100 North Carolwood Drive will be held from Monday 12^th December until Saturday's auction, offering members of the public the chance to come together and view the furnishings behind the man in the mirror. Given the way that he made them feel, the Carolwood Drive mansion could rock an investor's world. It really is a thriller of a property.

Can't afford to bid on Jacko's home?

Don't blame it on the boogie. Browse our range of affordable homes, apartments and other overseas property:

http://www.themovechannel.com/property/all

7 simple ways to house 7 billion

Ivan Radford — 04/11/2011 11:10:00

Photo credit: 7 Billion Actions / JJelenBass

This week, the world population hit 7 billion. The number of people on the planet has doubled over the last 50 years and there are now 21 mega cities around the world housing 10 million or more. According to National Geographic, “7 billion people could fit shoulder-to-shoulder in Los Angeles”, but what if people want a home?

With 5 people born every second, and life expectancy on the up, the population is expected to reach 9 billion within 35 years. Where will they all live?

Here are 7 simple ways to house 7 billion people:

1. Live in space

Photo credit: Ken Banks

With space filling up on the ground, there's lot of room in space. A fixed home, or hotel, orbiting the Earth could house humans tired of crowded cities, while outer space has an unlimited capacity for new developments. As the race for space tourism takes off, living in space is looking like an increasingly sensible option. Inevitably, the Russians are already working on it.

2. Live in the sea

Photo credit: Andras Gyorfi / Seasteading Institute

Over 70 per cent of the Earth is made up of water. It seems silly not to build a home there. Indeed, The Seasteading Institute are an organisation dedicated to constructing offshore platforms to turn into island cities. Earlier this year, Paypal founder Peter Thiel was reported by many outlets to have invested in a flotilla near San Francisco’s coast, to be built next year. These reports were all incorrect, but Thiel has definitely donated money to the company. And as land space becomes limited, the tide may be turning for aquatic homes.

3. Live between buildings

Photo credit: Arch Daily / FastcoDesign

As buildings run out of spare rooms, why not live between them? In Poland, Jakub Szczeny is already trying. His Warsaw house is just 4 feet wide, with its thinnest point barely reaching 28 inches. Is it the thinnest house in The World? It’s certainly the narrowest in Poland, although it technically isn’t classified as a house; officially, the project is an art installation to avoid planning permission issues. Designed as a workspace for writer Etgar Keter, the property proves that there is always space if you look between the lines. Construction will be complete in December.

4. Live in cars

Photo credit: If It's Hip It's Here

In 2009, there were 50,000 homeless people in Los Angeles. 10 per cent of those lived in cars, according to Time magazine. But if the prospect of an illegal vehicle home holds no appeal and you can’t afford the $2 million trailer that Simon Cowell has been living in, this VW Beetle-inspired house (and restaurant) in Salzberg provides a trendy alternative for those keen on automotive accommodation.

5. Live in a tree

Photo credit: Webecoist / The Independent

For people looking to find space off the ground, living in trees could provide a green alternative. It’s not just the vertical forests under construction in Milan that offer forest-based accommodation: tree houses are located around the world, including this spiral staircased property in France, located in the Rambouillet Forest.

6. Live in mobile homes

Photo credit: Webecoist

Mobile homes are an increasingly viable option for densely populated areas. The flat-pack houses launched this year by The Tumbleweed Tiny House Company in the USA provide an affordable answer, with miniscule models available from just £61. Meanwhile, modular homes, such as Matti Suuronen’s ski cabin above, are flexible enough to be constructed anywhere in the world (even on cliff tops), making mobile living both a cost-effective and practical solution.

7. Live in Australia

Photo credit: Melody Tan

After Mongolia, Australia is the world’s least densely populated country, with just 6.4 people living per square mile. That’s a lot of space for new residents. And with an increasing number of expats returning back to the UK after moving Down Under, there’s even more room available. Given the main reason for Britons leaving Oz was boredom, though, outer space might be a more exciting option.

Where would you like to live?

Browse our extensive range of overseas property, which hasn't quite reached 7 billion houses yet:

http://www.themovechannel.com/property/all

Top of the Props: America surprise second choice for buyers

Ivan Radford — 02/11/2011 12:36:00

Photo credit: Tommy Chang

America is now the second most popular overseas property destination in the world, according to the latest Top of the Props report from TheMoveChannel.com.

After a long-running battle between France and Spain at the top of the chart, the US has unexpectedly turned the two-horse race into a three-way competition for top spot. The country rose by two places in the rankings, replacing the traditional runner-up as the surprise second favourite for buyers in October.

America has always been one of the most popular places for foreign real estate investment, alongside France, Italy, Portugal and Turkey. But while Spain remains the country of choice for buyers (receiving 3 per cent more enquiries than the month before), America saw an increase of 1.06 per cent in enquiries last month.

That number may seem like a small increase, but interest in US property has grown by 3 per cent over the past three months, indicating a consistent appetite from overseas buyers for the country's heavily discounted property market. France had 1.57 per cent fewer enquiries last month, while interest in Portugal also waned, by 2.42 per cent - perhaps a sign that the continuing Euro crisis is sapping interest in continental property markets.

America's ascension was just one of several surprises, as Cyprus and Thailand both jumped several places to enter the Top 10 most popular destinations. Cyprus has been suffering from unemployment and economic woes in the years since the housing boom, but the country is now starting to claw back buyers, as property prices dropped for the sixth quarter in a row last month. New legislation to allow buyers to officially receive property title deeds is also encouraging investment, with many foreign investors already taking advantage of the more transparent system.

The Thai property market has just been hit by major flooding, although high-rise condominium sales are expected to grow as a result. Indeed, overall property transactions in Bangkok actually increased by 1,500 during the second quarter of 2011, according to CB Richard Ellis. But while Thailand and Cyprus made October a month of surprises, the biggest shock remains the US victory over France, as real estate away from the Eurozone continues to demonstrate its pull.

Director Dan Johnson comments: "French real estate has been seen as a safe investment zone in Europe for some time, so America snatching second place is a great achievement. The US market is currently full of foreclosures and repossessed property, with the affordable prices tempting buyers away from the French ski slopes and into the States.

"It's interesting to see Cyprus and Thailand regain their status as former Top 10 property destinations. The flooding may see Thailand's popularity decrease next month, but Cyprus' low prices leave a lot of room for investment as buyers look for familiar markets amid ongoing economic uncertainty."

The full breakdown of the Top 40 is as follows:

Overall enquiries for October 2011
Rank	Country	Share	Change
1	Spain	18.01	Non-mover
2	USA	9.27	Up 2
3	France	7.93	Down 1
4	Portugal	6.86	Down 1
5	Italy	6.29	Non-mover
6	Turkey	4.07	Up 1
7	Cyprus	3.65	Up 4
8	Thailand	3.17	Up 7
9	Bulgaria	2.77	Down 3
10	Brazil	2.67	Down 2
11	Greece	2.33	Up 1
12	Malta	2.23	Up 2
13	Barbados	2.02	Up 4
14	Germany	2.02	Down 4
15	Morocco	1.84	Down 6
16	Egypt	1.66	Up 3
17	Cape Verde	1.61	Up 4
18	Poland	1.19	Up 2
19	India	1.01	Down 3
20	Switzerland	1.01	Up 7
21	Hungary	0.96	Up 2
22	Cayman Islands	0.95	Non-mover
23	UAE	0.95	Up 5
24	Croatia	0.8	Down 6
25	Canada	0.8	Down 12
26	Slovenia	0.74	Down 1
27	Mexico	0.68	Up 13
28	Australia	0.49	Down 4
29	St Lucia	0.43	Down 3
30	Jamaica	0.41	Up 1
31	Indonesia	0.38	Down 1
32	Montenegro	0.35	Down 3
33	Malaysia	0.2	Up 8
34	Austria	0.19	Up 2
35	St Vincent and Grenadines	0.19
36	Albania	0.18	Down 1
37	Singapore	0.18
38	Lithuania	0.16
39	Belize	0.15
40	Philippines	0.15	Down 1

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 45 Lafone Street, Shad Thames, London, SE1 2LX.

Contact Dan Johnson on 0207 952 7650 for further information.

Top 10 haunted houses in the world

Ivan Radford — 28/10/2011 12:07:00

Photo credit: mksfca

With Halloween on the horizon, property buyers should be wary of the history of any house they find. Homes with a horrific past could come with a lower price tag, while a regular haunting might even boost the value of a property investment. TheMoveChannel.com picks up its torch and looks into the dark recesses of international real estate to hunt some truly terrifying property.

Here are the top 10 haunted houses in The World:

Jamaica Inn, Bodmin Moor, Cornwall

Photo credit: Christopher

Jamaica Inn is well-known for its Daphne Du Maurier connection, but as well as giving the title to one of her books, this 250-year-old inn has a history of haunted happenings. Noises in the courtyard and a man who walks through the empty corridors at night are just some of the ghostly remnants of the pirates and smugglers who used to reside in Cornwall’s spooky public house.

The Amityville House, New York

Photo credit: Nitroglicerino

America’s most famous haunted house is that of Amityville fame. Featured in several films, Amityville's horror story dates back to a real murder in 1974, when the owner, Ronald DeFeo Jr., shot six members of his family. Since then, several instances of paranormal activity have been recorded at 112 Ocean Avenue. The Dutch Colonial home was listed for sale in May last year for $1.15 million.

Monte Cristo, Junee, New South Wales

Photo credit: Island home

Regarded as the most haunted property in Australia, Monte Cristo was first occupied by William Crawley in 1884. Following his death in 1910, his wife refused to leave the two-storey home for over 20 years. Locals who witness lights and apparitions are convinced that she is still there.

Brissac Castle, Loire Valley

This mansion, built in the 11th Century, took its name from The Duke Brissac, but is haunted by another former resident, Jacques de Breze. Jacques killed his wife and her lover, then quickly sold the house to escape her ghost, which returned to haunt him. It was rebuilt in the 1600s, but the castle retains its scary reputation.

Spadina House, Toronto

Photo credit: Grant MacDonald

Spadina House was constructed in 1866 by James Austin, a Canadian investor who wanted to own an impressive piece of luxury real estate. No tragedies or accidents have ever occurred here, but researchers and visitors have reported sightings of “something” on the historic manor's third floor...

Whaley House, California

Photo credit: Miss Shari

Whaley House is two-storey property in San Diego’s old town that now houses a museum. Situated on the site of a gallows, the home is now one of California’s most popular attractions. Apparitions of “Yankee Jim”, who was hanged there in 1852, a young girl and even Thomas Whaley himself have all led to the building's status as a haunted house, officially recognised by the United States Commerce Department in the 1960s.

Joelma Building, Sao Paulo

Photo credit: Fjara Beck

The Joelma Building in Sao Paulo, Brazil, was the site of a tragic fire in 1978, which claimed almost 200 lives. Ghosts of the victims are said to have haunted the skyscraper, which has since been rebuilt and renamed.

LaLaurie Mansion, New Orleans

Photo credit: Reading Tom>

This three-storey house has a particularly gruesome past. Dr. Louis LaLaurie and his wife moved there in 1832 and kept several slaves in the property, before it burned down in April 1834. Local residents were shocked to discover the charred remains of animals and chained humans after the fire, and screams and wailings were heard in the neighbourhood for years. In 2007, actor Nicolas Cage bought the private property for $3.5 million, but then lost it to bank foreclosure in 2009. No connection is thought to exist between the two.

50 Berkeley Square, London

Photo credit: James Stringera

50 Berkeley Square has a reputation for being the most haunted house in London. Built in the 18th Century, it is now occupied by an antiquarian book dealer, but legend says that the attic is visited by the ghost of a girl who once committed suicide there. In 1879, a man was challenged to stay there for one night. He was later found dead in the house, reportedly of fright.

5 Real Street, Bélmez de la Moraleda, Jaén

This Spanish home is famous for its kitchen, where a former owner once saw the faint outline of a human face on the floor. Subsequent excavation of the property uncovered other faces and outlines and, eventually, a collection of bones from a 13th Century graveyard. It was listed for sale on the market in 2004. Spookily, there are no pictures of the house available...

Not afraid of moving abroad?

Browse our listings of houses, apartments and other overseas property, all at terrifyingly low prices:

http://www.themovechannel.com/property/all

Existing home sales perked up in October

admin — 22/11/2011 07:09:00

Home sales perked up in October, according to new data from the National Association of Realtors.

October existing home sales were up 1.4 percent, rising modestly to 4.97 million units from a downwardly revised 4.90 million in the previous month. The number of homes on the market continued to decline in October, the new NAR data showed.

Contract failures jumped to 33 percent in October from 18 percent in September, the association said. Contract failures are cancellations caused by declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems including home inspections and employment losses.

“Other recent factors include disruption in the National Flood Insurance Program, and lower loan limits for conventional mortgages, which paradoxically force some of the most creditworthy consumers to pay unnecessarily higher interest rates,” said Lawrence Yun, chief economist at the NAR.

Source: MSN.com

Rent Lady Gaga's former residence at 176 Stanton

admin — 22/11/2011 06:50:00

The former abode of Lady Gaga is already interwoven in the fabric of Lower East Side lore. It’s pretty much common knowledge at this point, thanks to some national exposure by 60 Minutes last January, that Stefani Germanotta once lived at 176 Stanton Street in the years before hitting the big time. As such, the nondescript tenement building between Clinton and Attorney has become somewhat of a tourist attraction for Little Monsters who pilgrimage to the ‘hood.

Now Citi-Habitats is naturally cashing in on the music royalty of 176 Stanton Street. The real estate brokerage claims that Lady Gaga’s former one-bedroom apartment is currently up for grabs. It’ll set you back $1,850 per month. Here’s the listing:

Phenominal 1br in the LES!! Former abode of the infamous Lady Gaga–legitimately! Sporting french doors, a marble bath, and a spacious floor-plan, you’re a hop-skip-n-jump from the trains and steps from the hottest nightlife in NYC.

Just know that your buzzer could likely ring ad-nauseum while living here; or Anderson Cooper could show up at your doorstep again…

Source: BoweryBoogie.com

Oprah renting out East Lake Shore Drive co-op for $15K a month

admin — 21/11/2011 08:37:00

Talk-show host and media giant Oprah Winfrey has placed an eight-room, 4,607-square-foot co-op unit in Streeterville up for rent for $15,000 a month.

Winfrey, who ended her long-running Chicago-based talk show earlier this year, spends much of her time in California and Hawaii. She paid $5.6 million for the three-bedroom co-op unit in 2006. But the talk-show queen never actually moved into the unit, choosing instead to remain in her massive duplex condominium spread in a different building a few blocks away.

Now, Winfrey has placed the co-op unit up for rent for the first time.

Source: Chicago Tribune

Downturn in real estate market allows students to trade dorms for luxury homes

admin — 18/11/2011 10:02:00

The New York Times has an interesting article examining how the downturn in the real estate market in Merced, California has led to hundreds of college students renting luxury homes in overbuilt areas.

The city has been one of the country’s hardest hit by home foreclosures (it is ranked third nationally, behind Las Vegas and Vallejo, California) and students from the University of California are facing a shortage of dorm space (5,200 are enrolled, with room for only 1,600 students in the campus dorms), so they have been presented with an unusual housing opportunity.

Paying just one-tenth of what their neighbors are charged each month, they find themselves in huge luxury houses with three-car garages, whirlpool baths, jacuzzis, walk-in closets and chandeliers.

The finances of subdivision life are compelling: the university estimates yearly on-campus room and board at $13,720 a year, compared with roughly $7,000 off-campus. Sprawl rats sharing a McMansion — with each getting a bedroom and often a private bath — pay $200 to $350 a month each, depending on the amenities.

Source: PSFK.com

US foreclosure rate improves by 31pc

admin — 18/11/2011 06:11:00

The American foreclosure rate has improved by nearly a third year-on-year.

RealtyTrac, a major US online marketplace for foreclosure properties, released its October 2011 Foreclosure Market Report this week showing that filings, default notices, scheduled auctions and bank repossessions took place on 230,678 U.S. properties in October, a 7% rise on the previous month, but still down nearly 31% on October 2010.

The report also revealed that one in every 563 US homes was served with a foreclosure notice during the month.

"The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we've been in for the past year as lenders corrected foreclosure paperwork and processing problems," James Saccacio, chief executive officer of RealtyTrac told OPP.

Source: OPP.org.uk

Immobel enables Mexican listings for US agents

admin — 18/11/2011 05:34:00

The Immobel Global Real Estate platform announced this week that it will enable all of the property listings of the members of the Mexico National Association of Real Estate Professionals, AMPI (Asociación Mexicana de Profesionales Inmobiliarios), to be shown by US overseas property agents on their own websites in English.

“The AMPI announcement comes during a wave of new globalisation initiatives by Realtor.com and ReMax.com, both of which launched websites with translated listings this week,” says Immobel.

“AMPI will benefit from much more than just translated listings, though,” Janet Choynowski, CEO of Immobel, told OPP.

“Through the Immobel Global Listing Exchange, the AMPI Mexico MLS listings will be shown by up to half of all US realtors on their own websites, creating a huge market impact.”

Source: OPP.org.uk

Video: Beware of mortgage scheme

admin — 18/11/2011 03:05:00

Everyone would like to get cash back, which is why an email to a Fox employee by mail caught their attention.

A promise he could get as much as $7500 back because of a mistake on his mortgage is actually a scam designed to trick homeowners out of money - if you think your mortgage loan does contain errors, you can file a complaint with a state or federal agency that charges your bank to review your mortgage for free.

Watch the video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/beware-of-mortgage-scheme/

American prices flatten out at 29% below peak

admin — 17/11/2011 06:03:00

U.S. house prices flattened out in the third quarter of 2011 versus Q2 and fell 4.4% year-on-year, according to Zillow’s latest quarterly market report.

Across the States, home values fell 0.2 percent in Q£ versus Q2, and crashed 4.4% on the third-quarter of 2010, to an average of $171,500.

Average values are now down 29% from their June 2006 peak.

"While we still have a ways to go in terms of home-value depreciation, the pace at which home values are falling has declined considerably during the course of this year. This slower pace signals that a stabilisation is on the horizon," says the report, predicting a further 3% to 5% drop before bottoming in 2012.

Source: OPP.org.uk

Charlie Sheen sells estate

admin — 16/11/2011 06:05:00

If you haven't heard much about Charlie Sheen in a while, let us bring you back: this year alone, the ex-Two and a Half Men star and newfound Valley Trust spokesperson has bought a manse in Beverly Hills, listed a place in Beverly Hills, and, most recently, sold a place in Los Angeles. According to The Real Estalker, sourcebook for all things Sheen-related, the actor has just unloaded his '20s Mediterranean-style manse to to actor Simon Helberg and his wife Jocelyn Towne for $2.9M. Sheen bought the four-bedroom, 4,100-square-foot property with then-wife Brooke Mueller in 2007, flipping it and listing it for $3.697M in 2009. Its rocky tenure on the market paralleled the couple's rocky personal life; the house was taken off the market in May, just about the time when Sheen lost his mind, went on and on about "winning," and officially divorced Mueller. Undeterred by the media frenzy, however—and enticed by those wood-beamed ceilings, most likely—Helberg and Towne bought the place last month.

Source: Curbed.com

Percentage of Americans planning to move abroad triples

admin — 16/11/2011 05:28:00

According to a new survey by America Wave SA, the percentage of US Citizens planning to move overseas has tripled "dramatically" to 2.4% from 0.8% in the previous 2009 survey ... and more or less doubled on the 1.4% figure in 2007.

Bob Adams, president and CEO of America Wave SA, has overseen all nine of the surveys on American relocation since their inception in 2005, and told OPP that the trend ins not surprising.

“The simple fact is that it has never been easier or cheaper to relocate than it is today,” he says. “And the American middle class has taken a terrible hit in this period of financial crisis. Why should we be surprised that they are looking wherever they can for a better life?”

“In today’s highly polarised, sometimes poisonous, social, economic, and political atmosphere in the US, there is a clear tendency to see anything and everything new as either a huge step forward or a looming disaster, more often than not the latter. It is no different with trends in American relocation outside the US.”

Source: OPP.org.uk

Video: Rise in investors buying homes for rentals

admin — 16/11/2011 05:06:00

Foreclosures are up again, home prices down again. But there’s actually some good news in the US housing market: Stan Humphries, Zillow Chief Economist, talks about the rise in investors buying homes for rentals.

Watch the full video report on TheMoveChannel.com:

http://www.themovechannel.tv/2011/11/rise-in-investors-buying-homes-for-rentals/

David Schwimmer Puts His L.A. Home on the Market

admin — 15/11/2011 06:38:00

Actor David Schwimmer has put his Mediterranean-style Los Angeles home on the market for $10.7 million.

Mr. Schwimmer bought the roughly 11,000-square-foot, nine-bedroom home in Hancock Park in 2001 for $5.5 million. The 1920s home, which was renovated before he bought it, sits on a flat acre and was designed by the architectural firm Koerner & Gage, which also designed Beverly Hills' City Hall. The house has a screening room, wood-paneled library and a den finished in stone. There's a guest house, a pool, a spa and a tennis court with a pavilion.

The "Friends" star, who recently directed the movie "Trust" with Clive Owen and Catherine Keener, renovated the backyard and made other improvements, including restoring the home's windows, doors and hardwood floors and installing new heating and air conditioning systems. Mr. Schwimmer is selling because he and his wife recently started a family and hope to pick out a Hancock Park home together, according to a statement from listing firm Westside Estate Agency.

Magali Bergher of the Westside Estate Agency and Arleen Ruby of Rodeo Realty Beverly Hills share the listing.

Source: The Wall Street Journal

Property sales rise in all states in the US

admin — 15/11/2011 05:14:00

Sales of residential property in the United States have risen in every state in the third quarter of 2011 compared with the previous year, the latest data from the National Association of Realtors.

It also shows that Metro area median existing home prices in the third quarter generally were down from a year ago. However, the median existing single family home price rose in 39 out of 150 metropolitan statistical areas while 111 areas showed price declines. In the second quarter, 41 metro areas had posted annual price gains.

‘Home sales need to recover first, only then can prices stabilize. Existing home sales are little changed from the second quarter but are notably higher than a year ago. The good news is inventory levels have been trending gradually down,’ said Lawrence Yun, NAR chief economist.

Total state existing home sales, including single-family and condos, slipped 0.1% to a seasonally adjusted annual rate of 4.880 million in the third quarter from 4.883 million in the second quarter, but were 17% higher than the 4.170 million pace during the third quarter of 2010. Every state and the District of Columbia saw sales rise from a year ago, with 45 states posting double digit gains.

Source: PropertyWire.com

Video: Mortgage rates drop to record lows

admin — 15/11/2011 04:42:00

Mortgage rates recently dropped to their lowest rates in history. We talked to brokers to find out what this means for home owners and those looking to purchase a home.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/mortgage-rates-drop-to-record-lows

Video: Global property outlook 2012

admin — 14/11/2011 06:52:00

Patrick Summer, Head of Property Equities, Henderson Global Investors shares his outlook for global property markets in 2012.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/ask-the-experts-global-property-outlook-2012/

Couple sues airline after finding cockroaches hanging above their heads

admin — 14/11/2011 06:42:00

A North Carolina couple is suing AirTran Airways, alleging they were sickened by cockroaches coming out of air vents and storage areas on a recent flight.

Passengers Harry Marsh and his fiancee, Kaitlin Rush, are suing for negligence and recklessness after their September 15 flight from Charlotte to Houston was blighted by the insects.

Their lawsuit claims that, after pointing the cockroaches out to airline crew, one flight attendant responded by raising a finger to her lips as if to silence them.

Source: Daily Mail

Foreign Office reveals strangest requests

admin — 11/11/2011 09:58:00

What clothes to take on holiday and where to go for Christmas lunch are among the most bizarre queries asked of Foreign Office staff abroad, it has been revealed.

They are more used to dealing with lost passports and victims of crime, but British consular staff overseas are constantly plagued with strange requests from expats and holidaymakers.

Staff at an embassy in Spain have been recently been asked to find out the size of the Prince of Wales's feet so the caller could send him some shoes “as a present”, while in Sofia, a Briton asked if the consulate could sell His house.

Other requests have included asking for Phil Collins' phone number (Spain), wanting to know how to get rid of ants at a holiday villa (Florida), and how to build a chicken coop (Greece).

Source: The Telegraph

Gay couples drive up housing values

admin — 11/11/2011 09:56:00

According to a new study, gay couples moving into an area can actually raise housing prices. But only if folks in that area are in favor of gay rights — if not, they have the opposite effect.

BusinessWeek reports on a study of the Columbus, OH area, which found that gay couples moving into an area was associated with an increase in housing values — if people in that area were in favor of gay marriage, as measured by their votes on the 2004 Defense of Marriage Act. If they were against it, then an increase in gay couples actually drove prices down. A previous study by Richard Florida and Charlotta Mellander had shown that "gay couples may lift real estate prices by enhancing cultural amenities, housing stock and the vibrancy of neighborhoods." But according to Susane Leguizamon, author of the new study, the opposite can be true: "The perception that there is prejudice against gay and lesbians by conservative groups is strong enough to be picked up in market prices."

In a 2010 Daily Beast piece, Florida explains why the presence of gay couples is correlated with higher property values:

[T]he presence of LGBT people isn't a sufficient condition for wealth creation in and of itself; gay men and lesbians are no more sophisticated, economically productive, innovative, or entrepreneurial than any other group on average. But places that attract gay people and lesbians tend to have the same open-minded attitudes and business styles that foster innovation. A visible LGBT community is the proverbial "canary in the coal mine," signaling openness to new ideas, new business models, and diverse and different thinking kinds of people — precisely the characteristics of a local ecosystem that can attract cutting-edge entrepreneurs and mobilize new companies.

Source: Jezebel.com

Own the home that Scrunchies built: Inventor lists Palm Beach villa

admin — 11/11/2011 09:16:00

Rommy Revson, inventor of the decorative pony tail holder known as a ‘scrunchie’, has put her Palm Beach, Florida home on the market. Revson, who patented the popular hair accessory back in 1994, is asking $4.399 million for the four bedroom, five-and-a-half bathroom Mediterranean villa.

Located in the well-to-do Mallet Hill subdivision of Wellington, Florida, Revson’s spacious 4,234-square-foot estate offers excellent flow from room to room and features a rustic, fully-equipped kitchen with a breakfast bar, large dining room and a master suite complete with both a shower and Whirlpool spa. The backyard, styled with colorful Spanish tile, offers a screened pool and patio area that looks out onto the canal and neighboring greenbelts.

Source: Realtor.com

Florida real estate market 'expected to improve' in 2012

admin — 11/11/2011 06:03:00

The property market in south Florida is expected to see international sales rise in 2012, supporting its already buoyant real estate sector.

This is the opinion of experts who attended the Miami International Real Estate Congress, the Miami Herald reported.

Speaking to the delegates, Moe Veissi, president-elect of the National Association of Realtors (NAR), asserted that the state has the "best global real estate market we've ever seen in this country".

He added: "This is an excellent time for an investor to buy in south-east Florida."

Source: PropertyShowrooms.com

US property market on track to hit bottom in early 2012, it is predicted

admin — 09/11/2011 07:00:00

The housing market in the United States could be nearing bottom as despite recent economic turmoil, property values remained almost unchanged from the second quarter to the third quarter of 2011.

Residential property values fell just 0.2% quarter on quarter according to Zillow's third quarter Real Estate Market Reports. It also shows prices are down 4.4% year on year and down 28.8% since they peaked in June 2006.

A lower rate of foreclosure liquidations coupled with relatively flat home values caused negative equity to rise in the third quarter with 28.6% of single family home owners with mortgages underwater, compared to 26.8% in the second quarter.

A home owner is in negative equity when they owe more on their mortgage than their home is worth. While the pace of foreclosures has slowed, liquidations remained high in September, with 8.7 out of every 10,000 homes being liquidated.

Source: PropertyWire.com

US property prices fall for second month in a row and are now 30pc off peak

admin — 08/11/2011 08:45:00

Residential property prices in the US fell 1.1 per cent in September and are now 4.1 per cent lower than a year ago, the latest CoreLogic Home Price Index released today (Monday 07 November) shows.

It is the second monthly decline in a row for the index which measures national home prices, including distressed sales. Prices fell 4.1 per cent in August. Prices are now over 30 per cent below their peak in April 2006.

Excluding distressed sales, year on prices declined by 1.1 per cent in September 2011 compared to September 2010 and by 2.2 per cent in August 2011 compared to August 2010. Distressed sales include short sales and real estate owned (REO) transactions.

Source: Property Wire

Jennifer Aniston spent $9 million on a Gramercy Park apartment

admin — 08/11/2011 08:18:00

Whenever Jennifer Aniston breathes, the tabloids go nuts and somehow manage to peg it to her looking pregnant, not being pregnant or desperately wanting to get pregnant. Even her adventures in real estate seem to have a baby angle.

According to Life & Style, Aniston recently shelled out nearly $9 million on a massive Gramercy Park apartment because "she's finally ready to make her baby dream come true."

Jen, 42, and her boyfriend Justin Theroux had been living in a brand-new West Village duplex, but the mag claims that they wanted more privacy -- and room to grow -- which explains the purchase of a three-bedroom, three-and-a-half-bathroom Gramercy pad.

Source: AMNY.com

Bank of America tries to foreclose on a Seabrook house that isn’t there

admin — 04/11/2011 09:40:00

How was Seabrook homeowner Brad Gana able to wriggle out of foreclosure proceedings on His home at the last minute? By hiring a lawyer to argue that His house does not exist. And indeed, the visual evidence is compelling: All that’s left of Gana’s waterfront structure at 1910 Todville Rd., which apparently washed away 3 years ago during Hurricane Ike while Gana was working overseas, is an empty slab, protected by a front gate and littered until recently with a few of Gana’s tools and collectibles. (After the proceedings were canceled, KPRC’s Amy Davis reports, Bank of America had those items removed from the property.)

But evidence that the house did still exist must have been compelling to Bank of America officials, because sometime after the hurricane, the lender took out a forced homeowner’s insurance policy on it. When premiums for that policy went up, the bank foreclosed. Gana claims he was never notified of the payment change, and says he always paid his mortgage on time; he found out about the foreclosure only 2 days before His house was scheduled to be sold. A bank representative tells Davis the insurance had been “incorrectly placed.”

Also destroyed in Hurricane Ike: the mailbox on the property where Bank of America says it kept sending Gana notices about his mortgage. For some reason, they kept getting returned to the bank. Gana tells Davis he had provided the bank with an email address and 2 phone numbers where he could be reached overseas; a bank rep says they’ll now use that info to contact Gana and “work with him directly to address his concerns.”

Source: Swamplot.com

Friel's home is a base for budding British stars

admin — 03/11/2011 07:39:00

ANNA FRIEL can add landlady to her resume - her home in Los Angeles is used as a base for her fellow British screen stars when they head to Hollywood.

The actress first found fame in the U.K. with her role on hit TV serial drama Brookside, and she later moved to California where she played Charlotte Charles in Pushing Daisies, a role which earned her two Golden Globe nominations. She has frequently spoken of her love for the U.S. and her desire to raise her daughter Gracie in L.A. - but following her split from Gracie's father David Thewlis in December (10) she has moved back home. Friel is determined to help other British actors trying to make it in Tinseltown by letting them stay at her house in the Hollywood Hills - and Doctor Who star Matt Smith and The Adventures of Tintin actor Daniel Mays have already taken up her offer.

She tells Hello! magazine, "It's become a refuge for British actors. Matt Smith stayed there this summer when he was promoting Doctor Who. I was there solidly for two and half years, but haven't been back now since January." And the actress also reveals she has no immediate plans to head back Stateside, adding: "My agent keeps telling me I have to get back to L.A., but for me to go and take Gracie with me wouldn't be particularly fair. Last week I was offered something that meant rehousing and moving all the way to New York, but I can't just say, 'Bye, everyone, I'll be selfishly over here for three years.' "I was offered so much work after Pushing Daisies but on American TV you have to sign a big, long contract. Here, you can do great parts and great dramas in a couple of months."

Source: Star-Magazine.co.uk

Video: Bidding at auction

admin — 03/11/2011 04:36:00

In this special segment of Melbourne real estate program Melbourne property TV, experienced property adviser and advocate Sean Thomson of WBP Property Group teaches buyers how to bid at auction, highlighting the tactics professional bidders use to get the jump on their competition.

Watch the full video report at TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/mptv-bidding-at-auction/

Disappointment as US home sales fall again in September

admin — 02/11/2011 07:37:00

Pending residential property sales in the United States declined in September, although activity remains above a year ago, according to the latest report from the National Association of Realtors.

Its Pending Home Sales Index, a forward looking indicator based on contract signings, fell 4.6% to 84.5 in September from 88.6 in August but is 6.4% higher than September 2010 when it stood at 79.4.

It means that the housing market is being excessively constrained, according to Lawrence Yun, NAR chief economist.

‘A combination of weak consumer confidence and continuing tight lending criteria held back home buyers, even though the private sector added nearly two million net new jobs in the past 12 months,’ he said.

Source: PropertyWire.com

Video: Cashing in on foreclosures

admin — 02/11/2011 04:33:00

A new scheme is being proposed in the US that could see foreclosed homes become a commodity.

Companies such as Fannie Mae and Freddie Mac have thousands of foreclosed homes, and a pilot programme is hoped to be in place by the end of the year to sell off the properties.

Including the figures from the Federal Housing Association, there are nearly 250,000 foreclosed properties in America. Demand for foreclosures is increasing, and transactions are currently exceeding supply, but foreclosures were up 20 per cent in August, and the US property market needs to find a way to sell the stock so the market can recover.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/cashing-in-on-foreclosures/

Google Maps lets you wander inside buildings

admin — 02/11/2011 03:11:00

Google Maps are now apparently venturing into buildings, with a foray into businesses letting you nose around behind the front doors of high street shops.

Business Photos on StreetView allow you to use the now familiar arrows to wander into the store and take a look around.

There's a few examples – including a comic book store in California and businesses in the UK can apply for inclusion.

2010 applications

Apparently, Google started asking for applicants in 2010, but it's only now that the lucky few are arriving in Google Maps.

Source: TechRadar.com

Paula Abdul is living in Cheryl Cole's LA luxury apartment

admin — 01/11/2011 07:28:00

Piers Morgan met up with Cheryl Cole in Beverly Hills for dinner and found the former X Factor judge in high spirits. '

Forget all the stuff you've read about Cheryl being down, out and miserable,' says Piers. 'She's back on top form and raring to go again.'

Over their meal at Sushi Roku, Piers discovered that Cheryl, 28, has invested in property in LA.

'It's true that she bought a luxury apartment in Hollywood, but she doesn't live in it,' Piers, 46, reveals in his Live magazine column.

Source: NowMagazine.co.uk

Video: US bank mortgage fraud crackdown

admin — 28/10/2011 05:19:00

Mortgage fraud in the US seems to be escalating amidst the bad economy. With $1 billion stolen in a month, the FBI says that bank mortgage fraud is now as important as terrorism.

Two investment bankers at Bear Sterns have recently been charged with fraud. But are there any more to come?

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/us-bank-mortgage-fraud-crackdown-cbs/

Does Simon Cowell's new house have the X Factor?

admin — 26/10/2011 07:05:00

We totally trust Simon Cowell's sharp eye for picking the best and his even-sharper tongue for dismissing anything short of it, so are paying close attention to the house that sources say he recently bought in Beverly Hills' Trousdale Estates. It wasn't an active listing, but sources say he paid about $13.5 million for the 7,265-square-foot home. The home was last on the market in 2004.

Sources say that Mr. Nasty purchased it quite by accident. He was looking at various high-end rentals and was shown this four-bedroom property in the exclusive neighborhood. Cowell, who doesn't mince words when judging "American Idol" contestants, saw this place and made an offer. It's good to know what you like, even better when you can afford it. Cowell's net worth was put at almost $200 million by The Sunday Times of London. It may sound like a lot of money for someone whose bark is (hopefully) worse than his bite, but how many times has he had to listen to "I Think I Can Fly" sung off-key to get there?

We're not sure Cowell's Fox spin-off, "The X Factor," will reach his stated goal of 20 million viewers -- actually he's already backed away from that target -- but we're thinking he can afford to add this new house to the real estate arsenal, no sweat.

As for the house, while it might not have made our list of 16 final contestants, we, unlike Cowell, understand that taste is subjective and are quite relieved that no one had to cry and phone home.

Source: RealEstate.AOL.com

Miami real estate market forges ahead with sales and prices, latest data shows

admin — 26/10/2011 06:34:00

Sales of residential property in Miami, Florida, are continuing to rise as the area records sales activity and leads the real estate recovery.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) rose 46% in September, figures from the member Miami Association of Realtors show.

Sales of existing condominiums increased 58 and statewide sales increased 10%. Nationally, sales of existing single family homes, townhomes, condominiums, and co-ops declined 3% from the previous month and but were 11.3% above September 2010, according to the National Association of Realtors (NAR).

‘We continue to experience record sales activity coupled with rising median and average sales prices in the Miami real estate market,’ said Jack Levine, chairman of the Board of the Miami Association of Realtors.

Source: PropertyCommunity.com

Video: Obama offers mortgage relief on Western trip

admin — 26/10/2011 04:11:00

President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, promising "a series of steps to help responsible homeowners to refinance and take advantage of low mortgage rates".

This scheme is his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/obama-offers-mortgage-relief-on-western-trip/

Investors bag cheaper Brooklyn properties as Manhattan alternative

admin — 25/10/2011 07:37:00

Bargain properties in New York’s Brooklyn area are luring international investors according to a joint report

The research produced by appraisal firm Prudential Douglas Elliman and realtor Miller Samuel Inc. shows that sales were up 18.1% in the third quarter year-on-year, with the median price edging up 5% to $510,000.

Condominium proved particularly strong, which reached a three-year high in terms of market share…accounting for 17.4% of Brooklyn’s sales.

Jonathan Miller, chief executive of Miller Samuel, said that foreign buyers were attracted by it being a cheaper alternative to trendy Manhattan.

Source: OPP.org.uk

U.S Existing Home Sales

admin — 21/10/2011 07:15:00

The U.S. economy released the existing home sales index for the month of September, where existing home sales decreased by 3.0% at an annual rate of 4.91 million units, compared with the prior revise gain by 8.4% at an annual rate of 5.06 million units.

Source: IBTimes.com

Video: Barack Obama's economic crisis plan

Ivan Radford — 20/10/2011 09:21:00

US President Barack Obama discusses his economic plan to pull the country out of crisis.

You can view the video on TheMoveChannel.tv

http://www.themovechannel.tv/2011/10/nightline-from-abc-news-obama-on-reviving-the-economy/

Video: How can you get started in property investment?

admin — 18/10/2011 07:54:00

Are you interested in investing in a rental property? If so, this video is for you.

David Koch talks to some money professionals about just what it will take to invest in a good returning investment house.

You can view this compelling video on theMoveChannel.tv:

http://www.themovechannel.tv/2011/10/how-can-you-get-started-in-an-investment-property/

Brad Pitt and Angelina Jolie put $13m home up for sale

admin — 17/10/2011 10:52:00

Fans of superstar couple Brad Pitt and Angelina Jolie no doubt dream of seeing inside their amazing lives, and they have been offered an unprecedented opportunity to do just that after the first interior pictures of the $13.75 Malibu mansion they have put on the market were released.

Inevitably people will be impressed at the minimalist airy interior design style the couple seem to favour.

Brad's deep pockets have allowed him to amass an impressive property portfolio. The mansion is just one part of a property portfolio that also includes homes in Malibu, Los Angeles, New Orleans, France and Italy.
No one knows why the wealthy pair have chosen to sell the property, which is set into a hillside over looking the Pacific Ocean.

It consists of two separate houses, a pool, a tennis court and expansive lush gardens. The sprawling 4,100 square foot property also has private beach access and is set back off the Pacific Coast Highway by a long private driveway.

The main house has four bedrooms and four baths, a large chefs kitchen with stainless steel appliances, bamboo floors, three fire places and a top of the range security system.

The house has had extensive renovations in the past couple of years with an additional story added by the environmentally conscious designer Christopher R. Sorensen.

It gives an invaluable glimpse into the lives of Hollywood royalty, showing the kind of lavish luxury the couple enjoy as a matter of routine.

Source: Daily Mail

New York Attracts More Commercial Property Investors

admin — 14/10/2011 07:00:00

The global financial crisis and resulting instability have left many international commercial property investors making fewer speculative buys in emerging markets, preferring to put their money into regions with more established regulatory controls. This buying strategy has placed New York at the top of Cushman & Wakefield’s “Winning in Growth Cities” report that measures the biggest commercial real estate transactions. The top 25 cities enjoyed a 48% rise in commercial real estate investment through the third quarter of 2011 and include London, Paris and Beijing. Cities dropping out of the top 25 this year include Vancouver, Sydney, Kuala Lumpur, Taipei and Amsterdam. For more on this continue reading the following article from Property Wire.

Real estate investors are flooding into commercial property markets in core global cities, with New York attracting the most investment during the last year, according to a report from international property consultant Cushman & Wakefield.

With volatility returning to financial markets and uncertainty about the global economy widespread, investors are continuing their flight to quality and are looking for safe opportunities in mature, regulated markets.

The ‘Winning in Growth Cities’ report identifies the largest and fastest growing cities in terms of commercial real estate investment, the difference in pricing, as well as demand and activity within individual sectors based on estimates for the year to the end of the third quarter. New York tops a list of US cities which have enjoyed buoyant demand this year, catching up to some extent with earlier recoveries seen in Europe and Asia. London is the second largest target, but the leader for overseas investors. Tokyo saw activity ease as the disruption of the earthquake, tsunami and nuclear disaster disrupted the market. However, unsatisfied demand is strong and the city held on to third place.

Source: NuWireInvestor.com

Trump Bids to Buy Florida's Doral Resort

admin — 13/10/2011 07:36:00

Donald Trump is eyeing a return to his traditional stomping ground: U.S. real estate.

Mr. Trump's company, which all but stopped investing its own money in large property deals in recent years, has signed an agreement to pay $170 million for a deluxe golf resort near Miami, according to people familiar with the matter.

It would be its biggest U.S. real-estate investment since the recession, according to people familiar with the matter. The Trump Organization has cut a deal to buy the Doral Golf Resort and Spa, with its 700-room hotel and four of its five professional golf courses.

Source: WSJ.com

Adopting retirement visa scheme would boost Florida market, say realtors

admin — 12/10/2011 07:44:00

Florida’s property professionals believe that passing a retirement visa programme for overseas real estate buyers could generate 300,000 new jobs as well as bring new money into the Sunshine state’s housing market.

The current visa system does not allow foreigners who own a second home in the US to use it on a full-time basis, or enter and exit the country without restrictions.

But with job-creation high on the list of President Obama’s priorities, the Florida Realtors Association has reiterated its position in support of the Retirement Visa Program, dubbed the “Silver Card”.

"A large percentage of Florida property sales each year are to international buyers," said 2011 Florida Realtors president Patricia Fitzgerald. "Realtors across the state work with clients from many different countries, who want to invest in Florida real estate or own a home in the Sunshine State.”

Source: OPP.org.uk

Hulk hawks his Florida mansion

admin — 12/10/2011 06:50:00

Former pro-wrestler Hulk Hogan has knocked a significant amount off of the asking price of his Florida mansion, which has failed to sell since 2006.

The muscleman’s beach-front home in the celebrity enclave of Clearwater was originally on the market for $25m and after four price drops can now be purchased for $8.85m. It comes equipped with a gym for those bicep-building sessions and a spa to cool down in afterwards. There are also five bedrooms, eight bathrooms, a five-car garage, expansive gardens, private dock, pool, a bar and, of course, a two tier waterfall.

The two-storey house - which will be familiar to many as the set of Hogan’s reality TV show - has ‘Tudor style’ architecture, vaulted beam ceilings and hardwood floors.

property in Florida, at both ends of the market, has been subject to widespread discounts with many developers and agents slashing their prices by up to 50%. The amount of short sale and foreclosure property has also increased dramatically since the global economic downturn with some agents even launching bus services which tour neighbourhoods showing prospective buyers the bargains on offer.

Source: APlaceintheSun.com

Former Britney Spears home goes up for auction

admin — 11/10/2011 07:06:00

The Calabasas, Calif., home most recently inhabited by Britney Spears is coming up for auction next month with a minimum bid of just under $4.5 million. The home originally came on the market for $10.8 million, but most recently asked $7.5 million.

The home is owned by Jose "Pancho" Leon, a builder and founder of a money-order transport company, who says he spent more than $7.7 million building the home. Ms. Spears rented the property from him for two years and, according to Mr. Leon, made several hundred thousand dollars' worth of upgrades to the home. The 10,300-square-foot home has a movie theater, an elevator, wine cellar, two steam rooms and a guest house.

Mr. Leon says he originally intended to live in the home himself, but his wife decided it was too large. "I am definitely taking a loss on this," he says.

Anthony Fitzgerald of Premiere Estates Auction Co. is handling the sale, which will take place at 11:11 a.m. Nov. 11.

Source: WSJ.com

Non distressed property sector in US just marginally down on a year ago, data shows

admin — 10/10/2011 08:40:00

Residential prices in the United States fell by 0.4% in August compared with the previous month, according to the latest index from CoreLogic.

August Home Price Index (HPI) shows that it is the first monthly decline in four months. Year on year prices are down 4.4%. But excluding distressed sales, the year on year fall is 0.7%. Distressed sales include short sales and real estate owned (REO) transactions.

‘The slight month on month decline was predictable, particularly given the renewed concerns over a double dip recession, high negative equity, and the persistent levels of shadow inventory,’ said Mark Fleming, chief economist at CoreLogic.

‘The continued bright spot is the non distressed segment of the market, which is only marginally lower than a year ago and continues to exhibit relative strength,’ he added.

Source: Property Wire

Manhattan sales surge as foreign investor interest spikes

admin — 06/10/2011 08:49:00

Foreign investors are targeting Manhattan Island as sales surged in the third quarter.

A report by Prudential Douglas Elliman revealed that there were 3,106 sales in Manhattan from July to September … up 17.2% on the second quarter and 16.7% up year-on-year.

Manhattan loft sales rose dramatically by 38.9% year on year, while condominium sales also spiked 33.4% compared to the same three-month period last year.

And Jonathan Miller, president and chief executive of real estate consultant Miller Samuel Inc., said that overseas buyers looking for bargains are driving the surge.

Source: OPP.org.uk

New York beats London as top spot for real estate investment

admin — 06/10/2011 08:46:00

New York overtook London as the No. 1 destination for real-estate investment for the first time since 2007 after improved access to financing spurred more U.S. deals, Cushman & Wakefield Inc. said in a report today.

Investments grew 166 percent to $29.7 billion in the New York area in the 12 months through August, compared with a year earlier. Investment in greater London increased 2.4 percent to $27.2 billion, according to the report based on data compiled by the New York-based broker and Real Capital Analytics Inc.

Buyers are drawn to cities like New York and London because of a greater focus on the “biggest and best,” Cushman said in the report. The trend will continue in the next six months, it said.

Outside of the U.S. real estate lending tends to be tighter and is still “very focused on prime, leased assets only,” Cushman said in the report.

Source: BusinessWeek.com

Rent the Hollywood home of Brit funnyman Sacha Baron Cohen

admin — 06/10/2011 08:09:00

The British comedian Sacha Baron Cohen might play a bumbling foreigner in most of his bits, but he has a knack for making bank off his on-screen hijinks, helping to fund the purchase of properties in London and Los Angeles.

Cohen and his wife, actress Isla Fisher, recently purchased an A-list estate in Laurel Canyon, but haven't been able to unload this Hollywood Hills spread.

The 1959 four bedroom is listed for $2.9M, but has recently been tossed onto the rental market for $11K per month.

Source: Curbed.com

Video: Commercial real estate seeing sales growth

admin — 06/10/2011 04:14:00

The commercial real estate is seeing sales growth in the US, says Hessam Nadji, Managing Director of Marcus and Millichap.

Despite housing sales dropping, commercial real estate transactions have risen at an annualised rate of 17 per cent, Nadji commented, suggesting the increase is driven by young people moving into the property market as well as an increase in private sector jobs over the past year.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/commercial-real-estate-seeing-sales-growth/

Pending US property sales down but still higher than a year ago

admin — 05/10/2011 07:23:00

Pending residential property sales in the United State slipped in August with a mixed regional performance but are higher than a year ago, according to the latest figures from the National Association of Realtors.

The Pending Home Sales Index, a forward looking indicator based on contract signings, declined 1.2% to 88.6 in August from 89.7 in July but is 7.7% above August 2010 when it stood at 82.3. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, said the decline reflects an uneven market. ‘The biggest monthly decline was in the Northeast, which was significantly disrupted by Hurricane Irene in the closing weekend of August. But broadly speaking, contract signing activity has been holding in a narrow range for many months,’ he explained.

The PHSI in the Northeast fell 5.8% to 63.6 in August but is 1.3% higher than August 2010. In the Midwest the index declined 3.7% to 76.2 in August but is 8.2% above a year ago. Pending home sales in the South rose 2.6% to 96.9 and are 7.6% higher than August 2010. In the West the index declined 2.4% to 108.1 in August but is 10.5% above a year ago.

Source: PropertyWire.com

Kurt Cobain's nineteen-year-old daughter buys her own place

admin — 05/10/2011 06:38:00

Frances Bean Cobain, daughter of the late great Nirvana frontman Kurt Cobain and Hole singer Courtney Love, has purchased a home for herself in sunny Los Angeles.

The 19-year-old Bard College student doesn't have the greatest relationship with her mercurial mother: in 2009 a court order prevented Love from having contact with her estranged daughter. Now, the youngest Cobain's trust fund, including the rights to the Nirvana catalog, has matured, and she's not being too shy about spending some of the royalties.

This tasteful four-bedroom, Mediterranean-style house cost the heiress $1.825M and features lots of historical details, but, sadly for the sweltering SoCal summers, no swimming pool.

Source: Curbed.com

Nearly 90% of south Florida coastal condos investor-owned

admin — 04/10/2011 07:57:00

Investors and vacation homeowners, according to a new report, own nearly nine in ten of south Florida’s coastal condominiums.

The Miami-based Condo Ratings Agency found that only 13% of south Florida’s 43,200-plus coastal condo units created and sold since 2003 are owned by primary users who filed under the Homestead Exemption legislation … something that investors and foreign buyers do not usually qualify for.

The figures could drift further apart as the report said that investors and holiday buyers are more likely to acquire the majority of the area’s 5,400 unsold developer units on the coast.

Peter Zalewski, a principal at Condo Vultures LLC, said: "Analysts have long suspected that investors and second-home buyers are driving the current trends in the South Florida condo market."

Source: OPP.org.uk

Moneyball star Jonah Hill throws down for valley pad

admin — 04/10/2011 07:40:00

Pudgy thespian Jonah Hill, fresh off his turn as an oddly entertaining baseball statistician in Moneyball, has decided purchase a rather grown up house in the Valley, Tarzana, Calif. to be exact. A lovely home to be sure, but Hill probably shouldn't give up his day job for a stint as a real estate investor. According to The Real Estalker, the funnyman sold a West Hollywood condo for $835K in '09, $215K less than he paid for it. Now that he's gone and dropped $2.175M on the Tarzana spread, let's just hope he doesn't try to flip it anytime soon. The '50s house in question was recently revamped by the previous owner, an Irish interior designer, and features five bedrooms and 5.5 baths on a 0.85-acre lot.

Source: Curbed.com

Higher US mortgage rates coming for costlier homes

admin — 04/10/2011 07:06:00

Many homebuyers in the most expensive U.S. real estate markets will face demands for bigger down payments and higher borrowing costs starting Saturday.

Higher limits on the size of home mortgages that the government buys or insures, which had been increased in 2008 in order to provide liquidity to a mortgage market crippled by the subprime meltdown, will expire on Oct. 1.

The cap on the size of mortgages eligible for government backing in the most expensive real estate markets -- including Washington, D.C., California and the New York City metropolitan area -- will fall back to $625,500 from $729,750.

The cap, known as the confirming loan limit, determines the maximum size of mortgages that the Federal Housing Administration, Fannie Mae and Freddie Mac can buy or guarantee -- a system designed to add liquidity to the mortgage market by taking mortgages off banks' balance sheets, allowing them to offer new loans.

Source: UK.Reuters.com

Jennifer Lopez buys $18million Hamptons mansion

admin — 03/10/2011 10:00:00

Newly single Jennifer Lopez has bought herself a brand new $18million bachelorette pad in The Hamptons, New York.

The 14,000-square foot mansion, where she will live with her two twins Max and Emme, features seven bedrooms and nine baths.

It was built in 2010 by architect Richard Perrillo, and sits on two acres of land, surrounded by water.

Features included marble heated floors in the bathrooms, several walk-in wardrobes, an extravagant dining room, an oak-panelled library, seven fire places, a media room and, of course, a swimming pool.

Source: Glamour

Video: The US on economic rebound?

admin — 03/10/2011 05:21:00

The US economic situation appeared a little brighter last week, according to RT America.

US stocks and the Euro rose on Friday, based on stronger than expected economic data. What does it all really mean? Edward Harrison, founder of Credit Writedowns, explains what’s going on.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/the-us-on-economic-rebound/

Room with a phew: How a designer converted a dumpster into a house complete with kitchen, toilet and shower

admin — 30/09/2011 11:33:00

An eccentric designer has created a home out of a dumpster, complete with working kitchen, toilet and shower.

Gregory Kloehn spent seven months converting a street skip into a permanent residence. He fitted a kitchen, toilet, shower, living and sleeping areas, all within the tiny confines of the typical dumpster.

The 40-year-old's property can even host house parties, as it features a mini-bar, DJ system, outdoor barbecue grill and a roof-top deck with dance pole.

Electricity is provided by an extension cord and there is five gallon propane tank to fuel the stove and BBQ.

Source: DailyMail.co.uk

Green homes set to generate price premiums, it is suggested

admin — 30/09/2011 08:40:00

Innovative new properties, such as those built with integrated solar panels to heat water or generate electricity, are beginning to generate a price premium for investors and home owners over conventionally built existing ones, it is claimed.

New research by the US Department of Energy’s Lawrence Berkeley National Laboratory, finds that homes with solar PV in California have sold for a price premium of approximately $17,000 for a relatively new 3,100 watt (kWh) PV system.

And a Royal Institute of Chartered Surveyors (RICS) information paper, entitled Sustainability and Residential Property Valuation, advised valuers that a home’s sustainability characteristics, for example its energy efficiency rating, the materials used in its construction and other features such as an energy-efficient boiler, should be considered within property valuations.

Anwar Harland-Khan, chief executive officer of Sustain Worldwide, which is an élite membership organisation of the world’s leading sustainable property developers and architects, said that the two papers support the company’s long held contention that there is an inherent price premium in sustainably built new assets.

Source: PropertyCommunity.com

Video: European failure worsened US economic crisis says Obama

admin — 30/09/2011 05:02:00

US President Barack Obama explains that the US economy is part of a bigger global crisis.

As a result, it has been harmed by Europe’s failure to deal with its banking deficit effectively.

Watch the full video on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/european-failure-worsened-us-economic-crisis-says-us-president-barack-obama

Proposed airline ticket tax bump has tempers soaring

admin — 29/09/2011 08:04:00

President Obama is asking passengers to pay a few dollars more in taxes for an airline ticket — which already is about 20% taxes and fees. And the travel industry is in an uproar about it.

Big airlines say people would buy fewer tickets if Congress approves the president's proposal to help cut the deficit and pay for the nation's aviation system.

Regional airlines, which carry more than half of domestic fliers each day, say it could force them to pull out of small cities.

Small-city airports worry about that.

And some travelers and consumer groups say it's just unfair to ask passengers to pay more on top of the taxes and fees that government and airports already charge.

Source: USAToday.com

Truman Capote's Brooklyn house takes another tumble

admin — 28/09/2011 07:08:00

The rumor this past spring was that 70 Willow Street, the Brooklyn Heights beauty once occupied by Truman Capote, had two offers. But nothing's real until the deal closes, and at the Capote house, it hasn't. In fact, the price just got chopped again, by nearly $1 million. The new ask: $14.995 million. A far cry from the cold-blooded $18 million the home originally hoped to fetch. Maybe Capote's house and another writerly abode we know should compare notes.

Source: Curbed.com

Wave of apartment construction set to sweep South Florida

admin — 27/09/2011 07:32:00

South Florida is about to go from condo bust to apartment boom.

Developers are set to kick off a new round of housing construction with plans to build more than 4,000 rental apartments. Five years have passed since the collapse of the housing market brought an end to the condo construction craze that swept the region.

Two high-rises are proposed in downtown Fort Lauderdale. Other projects being pitched include a cluster of towers with almost 400 apartments on Young Circle in Hollywood and a sprawling complex with almost the same number of units at the old Levitz shopping center in Boca Raton.

Apartment complexes across the area were converted to condos during the real estate boom years, but now developers say they see a new need for rentals.

Source: Sun-Sentinel.com

US new home sales fall to six-month low

admin — 27/09/2011 07:19:00

New single-family home sales in the US fell to a six-month low in August in a sign the crippled housing market will not provide much support for the flagging economy any time soon.

The US Commerce Department said sales slipped 2.3 per cent to a seasonally adjusted 295,000-unit annual rate.

The reading was in line with analysts' forecasts and does little to allay fears the US could slip back into recession.

"This is an insignificant change in new home sales, statistically speaking. The trend in recent months has been dead flat,"said Ian Shepherdson, chief US economist at High Frequency Economics.

Source: CityAM.com

Ryan Reynolds puts his bachelor pad on the market for $1.6m

admin — 27/09/2011 06:29:00

It was the bachelor pad he called home before his marriage to Scarlett Johansson in 2008. And while the couple have since split, it seems that Ryan Reynolds still has no desire to return. The 34-year-old Green Lantern star has put his Hollywood Hills home up for sale.

According to Zillow.com, Reynolds bought the single-storey home in the celebrity-entrenched neighborhood of Outpost Estates for $1,715,000, just before he tied the knot with Johansson.

The house, which was previously rented out while Reynolds was married, has two bedrooms and 2.5-bathrooms in just over 1,700 square feet.

And this isn't the first time that Reynolds has put the house on the market.

Source: DailyMail.co.uk

Video: Travel to USA

admin — 27/09/2011 05:26:00

Immigrations forms, customs forms, confusing procedures... Travelling to the USA for the first time can be an intimidating task. But there are simple steps to follow to travel without complications.

Here is a guide with sample pre-filled immigration forms and customs forms, specially for people flying to USA for the first time or apprehensive about taking a flight and going through immigration and customs procedures.

Watch the full video guide at TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/travel-to-usa/

Video: Investment 360: Property reits international opportunities

admin — 26/09/2011 05:19:00

There are many varieties of investment possibilities in the USA, with real estate investment trusts boosting opportunities for foreign investors, including commercial property.

ABN’s Eleni Giokos speaks with Greg Rawlins, from Grindrod Asset Management, and Paul Puryear, from Raymond James, to discuss the range of property reits international opportunities

Watch the full video discussion at TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/investment-360-property-reits-international-opportunities/

Property sales and prices up in Miami

admin — 23/09/2011 07:59:00

Miami is continuing to buck the trend in the UNITED STATES real estate market as sales and prices rise above the national average, the latest figures show.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) increased 49% in August and sales of condominiums went up 60%, according to the data from the Miami Association of Realtors.

Nationally, sales of existing single family homes, Town homes, condominiums, and co-ops increased 7.7% from the previous month and were 18.6% above August 2010, according to the National Association of Realtors (NAR).

‘The fact that home prices are rising despite distressed sales that account for the majority of sales is indicative of very positive trends in the Miami marketplace,’ said Jack Levine, 2011 Chairman of the Board of the Miami Association of Realtors.

Source: PropertyCommunity.com

Heath Ledger’s former L.A. home for sale

admin — 23/09/2011 07:48:00

Like many homes in Los Angeles, there is one on the Hollywood Hills real estate market that has seen more than one celebrity owner. Located on the celeb-favored Woodrow Wilson Street, this home was once owned by comedian/talk show host Ellen DeGeneres who sold it to celebrity couple Heath Ledger and Michelle Williams in 2005. The house is currently listed for sale for $2.995 million.

According to listing records, Ledger purchased the property from DeGeneres in August 2005 for $2,100,021. He and Williams lived there throughout their relationship and the birth of their daughter until their split in 2007. After Ledger’s death in Manhattan in January 2008, the home was put on the market and sold that July for $2.5 million.

The home has bounced on and off the real estate market in the past couple of years. It was first listed in 2009 for $3,695,000, then dropped to $3,495,000 before being taken off the market. The home’s current price is a 14.3 percent discount. As the area is home to many A-Listers (and their mansions), median Hollywood Hills home values are presently $976,900.

The mid-century house is described as “the tree house,” and sits on an ultra-private lot filled with sycamores and mature landscaping. The home includes 2 bedrooms, 2 bathrooms, and 1,861 square feet of living space as well as 2,500 square feet of outdoor living space. Outdoor features include a movie lounge with projector screen, a dining and barbecue space as well as multiple seating areas.

Source: Zillow.com

California real estate market 'struggling to gain momentum'

admin — 23/09/2011 07:45:00

California home sales are expected to remain essentially flat this year and rise slightly in 2012, according to a housing market forecast from the California Association of Realtors.

The trade group predicted California home sales this year will stay roughly flat compared to 2010, at 491,100 units -- a relative improvement given the 10 percent drop in sales in 2010.

In 2012, CAR expects a slight 1 percent rise, to 496,200 units. CAR projects the median home price in the state will fall 4 percent this year, to $291,000, followed by a modest 1.7 percent rise in 2012, to $296,000, as the lackluster economy continues to weigh on the minds of consumers.

"It's very clear that this market is struggling to gain momentum and move forward, and the pain is being felt in the consumer sector as far as consumer demand," said Leslie Appleton-Young, CAR's chief economist.

Source: Inman.com

U.S. existing home sales leap 7.7 per cent

admin — 22/09/2011 07:34:00

Existing home sales rose more than expected in August to the fastest annual pace since March as falling prices and low interest rates drew more buyers into the market, the National Association of Realtors said.

Sales climbed 7.7% month over month to an annual rate of 5.03 million units, the NAR said Wednesday. The median price was 5.1% lower than a year earlier.

Economists polled by Reuters had expected sales to rise 1.4% to a 4.71-million-unit pace. Compared to August 2010, sales were 18.6% higher.

The NAR’s estimate for the pace of existing home sales during July was unchanged.

Source: FinancialPost.com

Charlie Sheen to sell his Beverly Hills mansion

admin — 22/09/2011 07:04:00

Charlie Sheen has put his Mediterranean-style mansion, ironically named Sober Valley Lodge, on the market for a cool $7.2million.

The sudden sale has prompted speculation that the actor has run into money troubles after his acrimonious dismissal from hit show Two And A Half Men last month.

The show was said to have earned Sheen, TV's highest paid actor at the time, over $45million a year, although it was recently discovered that the actor had borrowed nearly $10million from the studio.

The plush estate, which he has described as a "spectacular celebrity home" on the real estate listing boasts an incredible 8,000 square feet of space along with five bedrooms and seven bathrooms.

Source: GlamourMagazine.co.uk

Video: IMF: World economy enters "dangerous new phase"

admin — 22/09/2011 05:23:00

The International Monetary Fund has said the global economy is in a "dangerous new phase" this week.

The IMF comments arrive as Standard & Poor lowers Italy's debt rating, in a week where financial forecasts are looking gloomy. On Monday, President Obama proposed $3 trillion of spending cuts and tax increases to help the US economy recover, but the IMF has downgraded its oulook for both the USA and Europe.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/imf-world-economy-enters-dangerous-new-phase/

Video: Personal finance terms 101: credit report

admin — 22/09/2011 05:03:00

Credit reports are important for home buyers and sellers, as your credit history highly impacts the mortgage that you can receive on a property.

Your ability to repay loans and manage debt are detailed in your credit report. Learn exactly what the report entails with this personal finance term 101.

Watch the full video definition on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/personal-finance-terms-101-credit-report

US commercial real estate market rebound predicted

admin — 21/09/2011 07:45:00

Real estate investors are expecting a widespread rebound in US commercial real estate markets, according to a new analysis of the market.

Recent declines in cap rates appear to be signaling a commercial real estate rebound, indicating improved investor expectations of price growth in the market, according to a report from San Francisco Federal Reserve Bank.

The cap rate measures the ratio of net operating income to the price of a property and serves as a rough approximation of expectations regarding return on a property investment.

It can also be looked at as the commercial real estate equivalent of the price/earnings ratio of a stock, according to the bank. ‘The rent/price ratio is largely a function of interest rates and expected increases in the property’s price,’ it said.

Source: PropertyWire.com

Paramount's Brad Grey lists former Frank Sinatra home for sale

admin — 21/09/2011 07:25:00

Paramount Pictures CEO Brad Grey has listed for sale the Holmby Hills home he bought in mid-November and is asking $23.5 million for the former Frank Sinatra-owned property.

Grey purchased the seven-bedroom North Carolwood Drive residence from an undisclosed seller for $18.5 million. The executive's real estate agent, Stephen Shapiro of Westside Estate Agency, said in an e-mail interview that Grey and his wife Cassandra Huysentruyt have "fallen in love" with another home Grey owns nearby in Bel-Air and have opted to remain there. Grey and Huysentruyt were married at the Carolwood house earlier this year.

The Carolwood house is situated on 2.3 acres in a prime neighborhood that is also home to Danny DeVito and Rhea Perlman, philanthropist Suzanne Saperstein, and television producer Bradley Bell, son of The Young and the Restless and The Bold and the Beautiful creator William Bell.

Shapiro said that Grey had considered a significant remodel of the 8,631-square-foot red brick Mediterranean home or possibly building a new house there, which could have taken up to three years. Grey opted to not deal with the lengthy construction project, said Shapiro, chairman of Westside Estate Agency, who represented Grey when he purchased the property last year. At the time, it had been listed for $22.5 million.

Source: HollywoodReporter.com

Home seller offers $1,000 in booze to buyer

admin — 21/09/2011 07:01:00

Drink for free at the local watering hole and make it home in seconds. That’s what one Glenview, Ill., homeowner is offering as a way to set apart her 3-bedroom townhouse in a Down real estate market.

Melanie Gravdal has been struggling to sell the unit, so she's decided to offer a unique incentive to stoke interest: $1,000 worth of food and drink at Grandpa’s Place, the bar across the street, to whomever buys the house.

“We weren’t getting very much traffic because there was so much competition in the market,” said Gravdal, of Glenview, a suburb about 18 miles north of Chicago. “We live in a place where restaurants and bars come within walking distance so we thought this was a way to cross-promote the neighborhood and our homes.”

Gravdal and her husband, who live in the house with their 2-year-old daughter and 5-year-old son, are looking to move back to California.

Source: MSN.com

Video: Former President Clinton interview – how to fix & revive the U.S. economy

admin — 21/09/2011 05:16:00

The problems facing the US economy are a global crisis, according to Former President Bill Clinton, but clearing mortgage debt will help.

Speaking on The Today Show, Clinton said that although the crash occurred in 2008, on average it takes at least five years for an economy to come out of it.

"We’ll be looking at areas where we can speed that up. The quickest thing we can do is to clear this mortgage debt more quickly. If you did that and cleaned up the bank’s balance sheets, there’s enough money in the banks and corporate treasuries to get out of this."

Watch the full video interview at TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/former-president-clinton-today-show-interview-how-to-fix-revive-the-u-s-economy-2011

More international students gaining admission to US graduate schools

admin — 20/09/2011 08:07:00

Graduate schools in America have been admitting international students at the fastest rate in over five years, up 11% in the last 12 months, according to data from the Council of Graduate Schools.

During the last decade after the 9/11 attacks, foreign student admissions dropped drastically and the recovery from this sharp dip has taken several years.

The increase in admissions for 2011 is the steepest one-year increase since 2006 and is being welcomed by American campuses.

The information shows that students from China increasingly want to study in the United States and are being granted visas to do so. Admissions are up 23% for Chinese students.

Source: ExpatForum.com

Orlando prices shoot up more than a fifth

admin — 20/09/2011 06:29:00

Orlando’s property market is surging as prices jumped by 20% since January.

Figures from the Orlando Regional Realtor Association (ORRA) show that residential property value has gone up by 21.2% in the first six months of the year.

This is backed up by a 15.1% increase in the area over the last 12 months.

ORRA’s report also indicated that the number of foreclosures and short sales is shrinking, with the metro area’s median price for August being $115,000.

Source: OPP.org.uk

Mark Wahlberg re-lists his Beverly Hills home

admin — 16/09/2011 05:35:00

A-List celebrity Mark Wahlberg has recently put his 1.41-acre estate in Beverly Hills back on the market. The property was originally put on the block in 2008 with an asking price of $15.9 million USD.

Wahlberg and wife Rhea Durham suspended the salefor the arrival of their fourth child but now, three years later, the house is back on the market with a new asking price of $13,995,000 USD.

The house was originally purchased by Wahlberg in 2001 for $5 million This incredible estate includes a master suite with two master baths, four additional bedrooms, high ceilings, a chef’s kitchen, screening room, as well as lux dining and living rooms. The property also contains a 2-bed, 2-bath guest house along with a detached 2,500-sq ft, 2-story gym with full size boxing ring, sports court, putting green, outdoor pool with waterfall, grotto and cabanas, and breathtaking canyon views.

Wahlberg shouldn’t have much trouble finding a seller for these gorgeous grounds.

Source: HauteLiving.com

Las Vegas home sales jumped in August

admin — 16/09/2011 03:11:00

Based on new statistics by the Greater Las Vegas Association of Realtors (GLVAR), sales of local homes, condominiums and townhomes jumped significantly in August, approaching an all-time record for existing home sales in a single month.

According to GLVAR, the total number of local homes, condominiums and townhomes sold in August was 4,693. That's up from 4,037 total sales in July and up from 3,638 total sales one year ago. Within that total, single-family home sales during August increased by 31.5 percent, while sales of condos and townhomes increased by 20.5 percent when compared to August of 2010.

Total housing sales in August were just nine sales short of the record set in June of 2009, when GLVAR reported 4,702 total sales. The 987 local condos and townhomes sold in August are a record for a single month. And the 3,706 single-family homes sold last month trail only June (3,785) and July (3,738) of 2009 among the best single-family home sales months on record.

Source: Gayapolis.com

Video: Day of reckoning for mortgages

admin — 16/09/2011 02:39:00

Homebuyers who locked in record low interest rates at the height of the global financial crisis are facing a big increase in mortgage payments as their fixed rate periods end.

Is this the day of reckoning for mortgages?

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/day-of-reckoning-for-mortgagees/

Housing market may be making a comeback

admin — 15/09/2011 07:56:00

New data released on Wednesday from Realtor.com show that median list prices for single family homes, condominiums, townhouses and co-ops have surged within the last year in Florida, one of the states hit earliest and hardest by the housing market crash.

Among the 146 municipal areas examined by Realtor.com, four out of the five markets with the largest year over year increases in median list price were based in the Sunshine State.

For example, the median list price of single family homes in Fort Meyers and Cape Coral, Fla., was $213,000 in August of 2011, a 33 percent increase from August of 2010 and the biggest increase in the country overall. In second place was Miami, which had a median list price of $249,000 as of August 2011, representing a 24.5 percent increase year over year. Naples, Fla. came in third with a median list price of $359,900 in August of 2011, a 20 percent increase from the previous year. And in spots four and five were Punta Gorda, Fla., and Fort Wayne, Ind., with median list price increases of 13.3 percent and 12.7 percent year over year, respectively.

While the overall number of for sale listings has fallen in the majority of the municipalities that Realtor.com monitors in Florida, the median age of inventory in the state is quite high, at 137 days, according to the report. The median age of inventory nationwide is 103 days as of August 2011.

Source: MSN.com

Strauss-Kahn penthouse up for sale

admin — 15/09/2011 07:27:00

USA property buyers now have the chance to purchase the New York penthouse which former IMF chief Dominic Strauss-Kahn used during his period of house arrest.

The 6,804 square-foot property in The City's Tribeca area has been placed on the market with a value of $14 million (£8,881,900).

Boasting two bedrooms, the luxury penthouse also offers a marble fireplace and a roof deck with a terrace and skylights.

According to the property's listing, it possesses "exquisite top to bottom renovation by famed architect/designer Leopoldo Rosati, just completed with only the finest materials and craftsmanship".

Source: Assetz.co.uk

Google offers new tool to shop for airline flights

admin — 15/09/2011 07:21:00

Travelers can search for flights at google.com/flights and filter their flight queries by price, airlines and routes. It also has a bar chart showing which travel dates are more expensive to fly. Google has been offering flight schedules since May.

Google's move has been expected since it bought flight-data provider ITA Software for $700 million earlier this year.

Online travel agencies and so-called meta-search sites such as Kayak vigorously lobbied federal regulators to block the deal, fearing it would pave the way for the tech giant to seamlessly integrate flight searches into its other products and dominate travel shopping.

Google's entry into flight shopping will fundamentally change customer experience, travel technology analyst Norm Rose predicts. "This is only the beginning of the transformation of general search into travel search that will save the consumer steps in the travel planning process," he says.

Source: USAToday.com

Owners of Michael Jackson death home go after star map seller

admin — 14/09/2011 09:41:00

The owner of the home where Michael Jackson died is suing a woman who is selling maps to movie stars' homes ... just feet from the MJ house.

Linda Welton has become semi-famous for anyone who drives on Sunset Blvd. in the fancy area where MJ rented the house. She's done a booming business since Michael died, in no small part because she's selling the maps in plain view of the MJ home.

In the lawsuit ... obtained by TMZ ... the owners of the now-infamous 100 North Carolwood Drive claims they can't sell the house because "Potential buyers are bothered upon approach by the quite visible and annoying constant illegal stopping and/or parking of cars in front of the home on what otherwise would be a quiet residential street."

The owners -- Hubert and Roxanne Guez -- claim their property value has plummeted because of the stream of traffic, Linda's lawn chair, coolers and large patio umbrella, and the illegally parked cars. They also allege Linda is violating the law by essentially having a newsstand on a street corner.

Source: TMZ.com

Edgar Allan Poe house may close next year

admin — 14/09/2011 09:26:00

Baltimore's most famous literary landmark may close next year due to budget cuts.

The Edgar Allan Poe House and Museum hasn't received money from the city for two years. Since that time it's managed to limp along on private contributions, but they aren't enough to keep it afloat. Now the curator says if something isn't done, the museum will probably close in June 2012.

Although the museum gets around 5,000 visitors a year, the money they spend doesn't cover its $85,000 annual operating budget.

Poe lived in the house from 1832 to 1835 and wrote several stories there, including Ms. Found in a Bottle and Berenice--A Tale.

The Edgar Allen Poe Society of Baltimore gives a more detailed description of the problem and has started an online petition that already has more than 6,000 signatories, including mine. I'd be proud to have your name next to mine on the list.

Source: Gadling.com

"Soft" Hawaii market sees prices plunge

admin — 14/09/2011 08:40:00

The residential real estate market in Hawaii "continues to be quite soft, with fluctuating sales volumes and no recovery yet in prices," but will recover in 2012, says a new report out this week from University of Hawaii.

The Annual Hawaii Forecast reports that “the volume of single-family home re-sales in the first half of 2011 was 1.3% lower than in the first half of 2010.”

Using data from Prudential Locations, the university’s economists conclude that across the popular second home and vacation US island state, the median home price was 2.8% lower than H1 2011.

However, condominium sales were up 1.1% in the same period versus last year.

Source: OPP.org.uk

Forecasted job and housing growth in Palo Alto increases

admin — 14/09/2011 08:35:00

The Association of Bay Area Governments and the Metropolitan Transportation Commission modified the proposed demands for future development in Palo Alto, with the result still unrealistic and unreasonable.

Now the period is 2010 to 2040, not 2035. Housing to be added in Palo Alto increased from 11,800 to 12,500. Job growth is projected as 26,600, a third more than today's level of 75,400. Six-thousand jobs would be added in the El Camino corridor—where?.

Three scenarios are considered:

Core growth is mainly by transit corridors in the inner bay; focused growth is in transit corridors throughout the Bay Area; outer growth is mainly away from the inner bay. Outer growth assumes Palo Alto job growth of 19,300.

Source: PaloAltoPatch.com

USA property values increase 4 per cent

admin — 13/09/2011 07:40:00

The average cost of USA property increased by 4 per cent in the second quarter of the year, research suggests, although some areas registered significant price falls.

Data issued by Clear Capital indicates that people interested in overseas property should be cautious in their approach to the market across the Atlantic.

The firm said that although summertime statistics paint a bright picture, they must be considered in the context of extremely low levels of business during the recent winter period.

It added that any rises recorded in the summer may be swallowed up again as consumer confidence returns to its low level.

Source: Assetz.co.uk

Jack Nicholson's Hollywood Hills house devastated after fire

admin — 13/09/2011 06:19:00

A fire broke out at a house in a Hollywood Hills house last night that is owned by actor, Jack Nicholson.

The modest property was bought by the star of The Shining in 1973, but he rents it out to a friend. Dozens of firefighters were reported on scene and two were injured and taken to a hospital.

The property is hard to reach by road, and proved to be difficult to tackle as the flames engulfed it - though the fire was contained.

The house is located on the 7300 block of Woodrow Wilson and according to online property records, Nicholson is listed as the owner, but he does not live there.

Source: ThisDayLive.com

Video: Unemployment & job loss – avoid foreclosure

admin — 13/09/2011 04:44:00

With unemployment and job losses rising in the USA, foreclosures are increasingly common for American property. It can be a great opportunity for buyers, but homeowners looking to sell can lose out.

Phidelphia-based short sale specialist Matt Fetick explains how to avoid foreclosure on your property.

Watch the full video on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/unemployment-job-loss-avoid-foreclosure/

Job-creation plan largely ignores housing woes

admin — 12/09/2011 10:08:00

More than four years after the sector's initial collapse, housing has become the economy's silent killer. But Obama, in unveiling his proposed $447-billion package, said little more on the issue than that he would help 'responsible homeowners' refinance their mortgages.

President Obama's new jobs-creation plan all but ignores what many economists see as the single biggest problem in the stalling economy: the continuing depression in the housing market.

Home sales, prices and construction have been bad and have been getting worse for so long that Washington and many Americans have grown numb to the problem.

But dig below the surface and housing turns out to be a root cause of many of the other problems that are getting more attention — including the high level of unemployment that Obama focused on in his speech Thursday to Congress.

"That's probably the biggest missing ingredient here," economist Mark Zandi said after reviewing Obama's proposed $447-billion package of tax cuts and infrastructure spending.

Source: LA Times

Reese Witherspoon ‘eyeing Pitt mansion’

admin — 12/09/2011 09:14:00

Reese Witherspoon is “interested” in buying Brad Pitt’s $14 million house.

Brad’s Malibu beachfront abode is currently listed on the market, and boasts a pool and a tennis court. Brad bought the property in 2005 for $8 million, and it is now up for sale.

Reese is said to be a potential buyer. The Hollywood actress went to take a look at the property at the end of last month, and sources have revealed she was struck on it.

"She seemed interested in it," a source told US magazine. "She hasn't made an offer yet. The house is still on the market.”

Source: Film-News.co.uk

Video: Is now a good time to buy a house?

admin — 12/09/2011 05:46:00

These days, there seems to be no shortage of depressing housing news.

Prices continue to fall, as do home sales, and there’s a significant backlog of foreclosures waiting in the wings.

As you might expect, this combination has led to some great home-buying opportunities.

Many prospective buyers are choosing to wait and see how low prices will go, and that’s understandable, but if you’re thinking seriously about homeownership, this might be a very good time to make your purchase — that is, if your personal finances are in order.

Watch the full video report at TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/is-now-a-good-time-to-buy-a-home/