Archive for October, 2009
Median House Price In Cyprus
The Cyprus news media recently published the median house price figures. The source of this information comes from one of the larger marketing companies that operate as an estate agency but are not a licensed estate agency. This company arrives at data from houses they sold during this same period. There are numerous marketing agencies developers and estate agents all selling homes so I dont see how one marketing company can determine accurately what the median house price is for the whole country.
They claim that house prices jumped 21 over last years numbers at the same time. This shows that the particular company did well but it is not a valid indicator of the market since the hundreds of sales that other estate agencies and marketing firms finalized were not considered. Any median home estimates reported by the media or by any other agency should include all variables such as: how many houses the company sold listing price selling price type of home and other factors in relation to all the other homes on the market and sold in Cyprus.
An agency that does not stand to gain from the median price report should be responsible for acquiring the vital statistics. The method currently in place needs an overhaul even though it is a fairly new method and the only gauge in Cyprus. A legitimate unbiased method of determining the median home prices needs to be created by either a reliable government agency or by the E.U since its their citizens who will be misled.
In the US there is an act known as the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 that works within the Department of Housing and Urban Development that is responsible for ensuring that Fannie Mae and Freddie Mac who provide information on mortgages obtained are properly capitalized and that they operate in a safe and sound manner. Fannie Mae and Freddie Mac are government sponsored enterprises and chartered by Congress and quarterly house price indexes for single family detached properties are based on their data. This method is specific accurate regulated and provides an unbiased estimate on a certain type of property and every property on the market that fits that description is included not just from one particular agent or marketing company. The method currently in use in Cyprus is not a valid gauge and the companys numbers are definitely suspect which does not help anyone except for the marketing company itself!
About the writer: Cleo is the owner of Cyprus marketing solutions Ltd. a Paphos based company providing proven internet marketing solutions specializing in selling property in Cyprus to families relocating and buying property in Paphos district and surrounding area.
Making Money Real Estate
Flipping properties during falling markets can be tricky. Buying during a slump and holding on for the next few years may prove to be the best way at making money with real estate investments. Flipping houses also benefits the neighborhoods where the actual houses are located. Instead of having to deal with dilapidated possibly abandoned houses on their streets that could perhaps lower the value of everyone’s property in the area the newly rehabbed houses can contribute to the improvement of the entire neighborhood. Flipping real estate is the process of buying a fixer home under value doing the necessary work and reselling it for substantial profit. But while there are great profits to be earned in flipping real estate there is also a great potential for loss.
Rent the house out to cover your expenses. Eventually the markets will change and it will become a seller’s market. Rental incomes should be able to support all rental and expenses and then some. However a property can be cash flow positive and still be a poor investment if the Return on Equity ROE is low.
Rental expenses are first used to offset rental income. Then if youre an Active Participant you are allowed to deduct additional rental losses against up to 25000 of income from other sources as long as you make 100000 or less which gradually phases out at a Modified Adjusted Gross income of 150000.
Holding over a year gives investors the longterm capital gains tax break. Invest only in areas with a future.
Investors often make the most money rehabbing properties from sellers who need to sell. Many of these types of properties can be major fixeruppers or condemned properties that have equity. Investing in land creates no income but it seems to appreciate at a greater percentage rate than house/ lot properties. Even though the average house appreciates at 5 the average home site appreciates 10 to 25.
Starting with one house at a time is often good advice for those with limited funds or flipping for the first time. If you can’t comfortably keep up the mortgage taxes and insurance until you’ve revitalized the home and sold it then you should reconsider purchasing it in the first place. Start by examining real estate book reviews at Amazon.Com. Do not buy anything for the first week or two.
Flipping became a popular real estate investment strategy to make fast cash. However one thing that people forgot in their haste to play the game was to be properly prepared with the knowledge to avoid paying high taxes on their profits.
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Lucknow Brimming With Real Estate Activities
Lucknow is becoming a hotspot for property developments. Almost all major real estate developers have presence in the city and many local property builders are upgrading their profiles to make their mark. Besides residential and commercial complexes the real estate developers have also added new avenues like Cyber Complexes and Cyber Hubs to their agenda transforming the City of Nawabs to one of the fastest growing cities in the country.
New residential Attractions
Citybased Sahara Housing and Infrastructure Ltd. has ventured into premium housing segment with Sahara Grace. These luxurious houses are being built at Jankipuram and sprawl over a built up area of 670000 sq ft. Sahara Grace is just adjacent to Sahara States Township that has deluxe apartments of 3/ 4 bedrooms.
On the similar lines Parsvnath Developers Limited PDL has launched Parsvnath City at Uttardhana on the Faizabad road. This city is spread over 35 acres and has 2/3/4 bedroom accommodation. Parsvnath City is an integrated township that will have a primary school modern club gym sauna spa built with in the township. Another premium housing project unveiled by PDL is called Parsvnath Planet. This is another integrated township that has been planned with ultramodern lifestyle amenities.
Commercial property development
In the commercial property segment many malls and commercial complexes have been lined up by property developers like Sahara Omaxe and Shipra. There are about 12 new malls where construction is in full swing and will be completed by 2010.
Gomati Nagar will have five malls namely The Zee Mall The East End Mall Singapore Mall Citi Mall and Riverside Mall. Hazratganj is another prominent retail destination. The place will have three malls soon Tej Kumar Plaza Raja Ram Kumar Plaza and Ansal Plaza.
For more details on Lucknow Real Estate Builders log on to magicbricks.com
About the writer: George Gonigal provides you the best and latest information on Lucknow Real Estate If you want to Bangalore Real Estate Builders he suggests you log on to magicbricks.com
