Melbourne Still Lags in Australia's Property Markets

Melbourne, Australia

It won't be until 2014 when commercial, industrial and residential real estate markets in most Australian major cities begin to recover, according to a new report from the Australian Property Institute.  Melbourne, particularly, still waits for home prices to hit rock bottom.

Listings at brokerages and at auction houses are down as potential sellers hold back placing their properties on market, waiting for a price rebound, according to the Institute's survey called Australian Property Directions.

Justine Jacono, president of the Australian Property Institute, said residential price falls are expected to be mirrored in the commercial and industrial sectors, reports The Telegraph.Com.AU of Sydney.

"Melbourne is yet to reach the bottom of the cycle," Jacono said.  " ... In two years time, respondents see residential property as moving further along the upswing with Melbourne lagging behind Sydney and Brisbane,''

But the Real Estate Institute of Victoria (REIV) offered a glimmer of hope for home sellers, arguing the bottom of the cycle has already been reached in Victoria, The Telegraph reported.

"While we will only be certain that the bottom of the current cycle was reached after it has happened, REIV analysis indicates we have been at the bottom of the residential cycle in terms of prices and demand for the entirety of 2012,'' according to REIV spokesman Robert Larocca.

"The key determinant about when we rise from this position will be levels of consumer confidence (and) when that rises on a protracted basis we will expect an upswing in the market,'' Larocca said.

The number of homes being listed remains lower as "real estate agents continue to call for vendors to meet the market if they want to sell," The Telegraph notes.

Nationwide, Sydney residential properties are seen to be on the upswing, while Brisbane has reached the bottom of the market and is set to start ticking upwards again in the next 12 months, according to the Institute's survey

"Commercial, industrial, retail and residential property in Sydney, Brisbane and Melbourne are seen as currently being stalled at or near the bottom of the property cycle but are predicted to advance slowly along the cycle over the next two years,'' Jacono said.

As governments pull back on home-buyer incentives in many markets around the country, survey respondents have given greater weight to the role of bonuses in boosting the housing sector.

"When asked to comment on the importance of government incentives for the residential property development market, a greater percentage of respondents (93 per cent) rated them as moderately to extremely important compared to 86 per cent six months ago,'' Jacono said, according to The Telegraph.

Chambers Street Properties $700 Million Credit Facility Will Help with Industrial Acquisitions

Kansas City industrial park

Chambers Street Properties (formerly CB Richard Ellis Realty Trust), based in Princeton, New Jersey, has secured a $700 million revolving credit facility through a consortium of lenders led by Wells Fargo Securities, LLC and RBC Capital Markets. This capital infusion will help the REIT go on a shopping expedition, mostly for industrial properties, although it also buys office buildings.

The new facility will make available a line of credit over the next four years with an option to extend it for an additional year. Chambers Street also has the option to request an increase in the facility of up to $700 million for a total of $1.4 billion.

"This new line of credit reinforces the strength of our investment strategy and provides us with an expanded capital platform to build upon our existing portfolio and support the next phase of the company's growth as an investor in high-quality, net-leased commercial real estate," said Jack A.Cuneo, president and CEO of Chambers Street Properties.

Chambers owns commercial properties across three continents in more than 40 markets: It has 124 properties around the globe. Of those, 112 properties are in the US, seven are in the United Kingdom and five are located in Germany. In addition, Chambers Street owns an interest, with institutional partners in Asia, in eight properties in China and Japan.

Last month, Chambers Street announced the purchase of a fully-occupied 1.1-million-square-foot- warehouse/distribution center in Kansas City, Kansas, as well as the purchase of a 1-million-square-foot state-of-the-art logistics facility near Koblenz, Germany. The latter is still under construction, but is 100% pre-leased, says Philip Kianka, executive vice president and chief operating officer at Chambers Street Properties. The facility in Koblenz is expected to open possibly by December 2012, although the opening date may be pushed back, he says.   

"We have focused on warehouses and logistics (properties) since the beginning," of the company, says Kianka. CB Richard Ellis Realty Trust started with a private placement in 2004 but there was an IPO in November 2006, he says. "We became Chambers Street Properties on July 1, 2012," says Kianka.

"Before the name change, we were part of CBRE Advisors and employees of CBRE Global Investors with an annual contract that came up every April," says Kianka. "But as we matured as a REIT, and after we raised equity through the public markets, we decided to take over the management team and become direct employees of the REIT," he says. 

Chambers Street's acquisitions are guided by a change in logistics patterns, says Kianka, "Everyone (who owns industrial properties today) is reviewing their needs and relocating near ports or intermodal facilities," he says. "We are also getting closer and closer to population centers," says Kianca.

In this new scenario, says Kianca, port cities like Jacksonville are favored along with markets like Kansas City, which has the advantage of intermodal facilities. Although Jacksonville is not as large as Kansas City, it does have direct access to the port, and ships can get into Jacksonville fairly easily, he says.

"Everyone who is buying logistics properties has a presence in the Southeast," says Kianca, and Chambers Street is no different. It has a significant presence in North and South Carolina markets that are close to Charleston and Savannah.

Successful Real Estate Selling Techniques And Ideas

You could read articles until you're blue in the face about how to sell your real estate, but unless the information is accurate, you're not going to learn anything of use. Check out this article for some of the most accurate, seller-oriented, real estate information, out there today. Armed with the right knowledge, you can move your property in a hurry.

Although this is the job of your realtor, you should still make sure that photos of your home look good when you are trying to sell. These photos are a first impression for your buyer and you want to be sure that it shows properly. Look at other properties and compare your photo style to theirs. Make sure that the photos shown are good room photos and not just pictures of furniture in a room. You will have more of an interest in your property with the proper photos.

If you are looking to sell a piece of real estate, then you want to be sure you or the realtor makes the buyer aware of every possible advantage to living there. For example, if it is in a neighborhood with historically low crime rates the realtor may want to bring this up.

If you have significant experience with the real estate market, consider selling your home FSBO (For Sale By Owner). This is the industry shorthand for selling a property on your own, without the services of a real estate agent. It is not as simple as the alternative, but you can save significant money by avoiding agents' commissions.

A leaky roof is something that needs to be disclosed when you are selling your home. If you do not, you will hear from the buyers' lawyer. Because of this, it is a good idea to get it fixed so you won't have to deal with it during the sale process.

If your house will be open for realtors and prospective buyers, move large or unnecessary furniture into storage. Entertainment centers, sectional sofas, and over-sized tables can make a room appear cluttered and can give buyers the impression that the room is actually much smaller than it really is. For ideas, visit local model homes to determine the best placement for furniture and accent pieces.

No one knows your home better than you do. At the sale of the home, you will be required to fully disclose any and all issues that have been corrected in the past as well as deferred maintenance or repairs that are currently needed. Not disclosing this information can cause lawsuits and major hassles down the road when they are discovered by the new owner.

When selling your home, consider how the outside looks to potential buyers. You can make a great impression by having a mowed lawn, trimmed shrubs, and a clutter free front porch. You should also try to repaint or wash the outside of your home to help show off its true appeal. The better the house looks outside, the better impression you will have on buyers.

In order to sell your home in an efficient manner, ask your real estate agent how he or she intends to market your property. Avoid agents who rely solely upon open houses or tiny newspaper ads for marketing homes, and look for an agent with creative ideas for showcasing your property and bringing in the right prospective buyers.

When your home is ready for sale, make it as presentable as possible by eliminating clutter and reducing your furnishings to the bare necessities. In real estate the impression of spacious rooms is just as important as actual square footage, and your house will always present itself better if you clear out every expendable space-taker.

To sell your home quickly, you should pay attention to its appearance when people come and visit it. Clean up the house thoroughly and paint the walls if necessary. Your goal is to make potential buyers realize what they could do with this house by showing them the comfortable home you have created.

Most potential buyers see colored bathroom fixtures as outdated. Glazing the bathtub, shower, or sink in something more sleek or modern is often preferred to a color that is or soon will be old-fashioned.

To prepare yourself for selling your home, starting viewing your house as a product, and make it less sentimental. Remove clutter and personal objects like photographs to make it easier for potential buyers to imagine their own items in the house. Keep the home tidy and neat to demonstrate to buyers that you take good care of the house in general.

If you are planning to sell your house to relocate for a new job that is far away, do not wait until the last minute to list your house. Unless you are financially able to pay for two properties at once, you shouldn't put this off. Depending on the season, buyers may or may not be more inclined to buy a new home, especially families with children who are enrolled in classes already.

As you are preparing to sell your home, give some extra attention to your front door. A buyer's impression of your home begins at the front step. Give the door a fresh coat of paint or replace it all together if it is scratched and dented. You want the buyer to enter your home with good feelings.

To get the best value in real estate start by finding the right agent to work with. An agent who works in the business full time is going to have access to better contacts that you'll need than someone working part time in the business. They will know more about the trends in the market as well.

What you just read in the article above was a set of tips and tactics to help you sell property in today's real estate market. Remember that not every single tip you read will turn you into the next real estate mogul, but if you do put these tips into practice for your home, it will sell and you will turn a profit.

What Everyone Should Know Before Selling A Home

With the wide array of information available to home sellers out there today, there is no excuse for having a property just sit around on the market. Use the tips provided in this article to help move your home and you can become successful in real estate. Whether you're a one-time seller or are planning on frequently selling, these tips will help you.

When pricing your home, pick a price that is relevant for within 30 days of the house going on the market. Home prices fluctuate throughout the year, and pricing a home in the winter with a spring price will not be a move likely to sell your home quickly. If you must get the higher price, it's better to wait to put the home on the market than to over-price it now and have it sit.

If you have an old dated bathtub that has seen better days you should do the best you can to make it more appealing to buyers. If you have the money you can have the entire thing replaced, but if you don't you can have it re-glazed to give it a fresh look.

Make sure your agent is advertising your home on the MLS and top sites such as Trulia.com and Realtor.com. Also make sure that plenty (six or more) quality pictures are included with each ad. Research shows most home buyers start on the internet, and you want to make sure your property is one they will immediately take a look at.

Pique potential buyer's interests by sprucing up the front yard. Curb appeal plays a big role when a buyer is stopped in front of your house, trying to decide whether or not to take the time to check it out. Add some color with some flowers for spring and summer and maybe some pumpkins for the fall.

If your ceilings and walls are stained, with smoke or grease, you should repaint them before showing your house. Buyers can be turned off by these things. Repainting is not very expensive and it can normally pay for itself. If you have cracks in your ceiling or walls, try to have them filled in before you try to sell your home.

When you are having an open house you should allow the locals to see the house earlier than people from other areas. People who live near you are more likely to buy your home and it would make them feel nice to know that you are going the extra mile to accommodate them first.

Take the time to got through your closets and pack away any clothing that you have not used in quite a bit of time. This will help your closets look a lot more appealing to you buyer since they will not look crammed full of stuff. You want the buyer to feel that there is enough closet space available.

One tip to keep in mind when it comes to real estate is to not wait too long to put your house on the market. This is important because while many people wait until the warm season to buy and move, it doesn't mean that people aren't searching for houses in late winter and early spring. Get your house on the market, and get it out there early.

Before you put your home up for sale, you may want to consider having a garage or yard sale. Having too much junk in your home could put potential home buyers off. Plus, you want to have as little belongings as possible when it comes to having to pack for moving.

A great way to get your house sold more easily is to extend the selling market period. Make sure that your home is ready to go on the market in mid-February so you have nearly half a year to sell your home before the market begins to close up.

Do all that you reasonably can to prepare to sell the home. Talk to your lawyer if you plan to sell the house without going through a realtor. Cut the grass, clean up the outside of the house, and renew the paint where necessary. Get rid of any clutter laying around the house. Get the inside organized and spotlessly clean, and get rid of things you don't need. Put signs in the yard that let people know the home is for sale.

Do not allow yourself to become quickly discouraged if prospective buyers do not immediately seem willing to pay the listed price for your home. If you are using an agent, he or she can generally lead the way for you as you start to receive offers that are perhaps below the list price. Do not reject them outright; follow your agent's cues to get a clear idea of how reasonable your asking price is.

When showing your home to a potential buyer, try your best not to be home. Sticking around while your buyers are viewing the house makes them feel like intruders. It's also easy for you to slip up and give away information that might not be to your benefit (i.e.: how low you're willing to go on the price). Find some place to go for an hour and let your Realtor show the home.

More often than not, it is not enough to simply put a "For Sale" sign in your front yard and wait for prospective buyers to knock down your door. Consider the selling process in a more holistic way; you must include marketing and advertising elements to get the word out. Take out print and online listings, post flyers, and be prepared to sell, sell, sell.

Your Real Estate Agent Will Know How To Properly Stage Your Home

Each day, many people enter the real estate market as sellers. For some it's a once in a lifetime event, for others it's a test of their business and salesmanship skills as they endeavor to sell yet another home for profit. The advice provided in this article will help you to see that anyone can sell real estate, even if inexperienced.

When staging a home to show to a potential buyer, don't neglect the bathroom. A clean, white shower curtain will make a bathroom feel less grungy and more like the sanitary space it should be. Under no circumstances should you show a home with the old owner's shower curtain still in place.

When selling, keep your house staged in a ready state to attract buyers. People want to be able to imagine themselves in a home when they are considering buying. A warm home still filled with pictures, and furnishings will allow the prospective buyer a chance to see their items in place of yours. A cold, empty sterile property is not an inviting place to live.

When selling your home in the fall, make sure to keep up with the maintenance on your home that may send up red flags on a potential buyer. Keep the gutters clean of leaves so the buyer knows that you have taken the time over the years to do the required upkeep on a home.

Give your home some curb appeal. If you are selling a home, it is important that it looks good, not only on the inside, but on the outside as well. Make sure that it catches the eye when a prospective buyer drives past it. The house itself and the lawn should be pleasing to look at.

Advertise your home to sell it faster. There are many websites that will let you list your home for free. You should take great pictures that are well lighted and clear. You can also advertise your home for sale in the newspaper or by putting flyers up around town.

Get your home ready to move into. Make sure everything is up to code to make it easier on the buyer. You should be sure small things are fixed and appliances are in working condition. This way they won't have any maintenance to do upon moving in and can enjoy their new home.

A great way to make your home increase in value, is to remodel the bathroom in your home. If the bathroom in the home you are trying to sell does not have a certain appeal, many of your buyers will think that the home is trashy. Increase the value of your home today and remodel your bathrooms.

Prepare your home to sell. A home that is maintained and well taken care of will sell faster than a home that isn't. A well polished home is appealing to most people and will also sell for more. Start with small fixes, like painting, then look at other improvements you need to make.

You need to remove as much clutter from your house as possible when staging it for buyers. When you remove the things that you have collected over the years, you are removing your emotional attachment to the house. You are also creating space for your buyers so that they can visualize how their belongings can fit in.

To make sure that your lawn creates a good impression on the home buyers, take care of lawn problems before you work on the interior of your house. You will need to re-sod any unsightly brown patches. These patches will need time to settle and blend in with the existing lawn. You want make sure that your lawn is healthy and manicured before the home buyers see your house.

Installing hardwood floors can increase the value of your home noticeably. Potential buyers will appreciate new floors, especially if it's wood. Parquet flooring is a popular favorite. You can also install carpet. But, some people either do not like carpet, or will end up disliking the color or texture and removing it themselves.

When people are selling their home they don't always think of the little things. Potential buyers want to be able to picture their own things and family in the home. Or maybe they want to daydream about what they would do to the home. So try to help that vision out by putting some of your things in storage. Also painting your walls white will help them to imagine their own colors.

As you are preparing to sell your home, be aware of how your house smells. Obviously, you want to get rid of anything that would turn a buyer off. You also want to carefully consider what you want to add that will make your home smell nice. Focus on flowers because they provide a nice, natural smell that is not too overwhelming.

Appeal to tech-savvy and younger prospective home buyers by including video tours and panoramic views of your property. These need not be very lengthy or elaborate, but should load quickly and change seamlessly from one room to the next. Offering a full 360 degree view can help to highlight the most attractive areas of the house.

When selling your house, be sure everything is covered in your contract. During the closing, specify exactly what comes with the sale of the house. You might have planned on taking the washer and dryer, your buyer may be thinking you are leaving them. Also be sure to specify when events such as termite inspections should take place by. If you do not make your contract specific, it could delay the closing by days or weeks.

All buyers should choose a respected escrow company or real estate attorney to close their real estate deal. The escrow company, or attorney in this case is a trusted, independent third party, which will properly distribute the funds and the necessary documentation among the transacting parties. Without escrow the possibility of a fraudulent transaction is significantly greater.

In conclusion, many people become real estate sellers. Some acquire homes and sell them for profit. Regardless of previous experience on the market, if you remember the advice found in this article, then you can take your first steps to entering the real estate market as a successful real estate salesperson.

Great Tips For Getting The Most From Your Home Sale

Today's economy is a stressful one, and selling your home can be difficult. Finding ways to get yourself ahead in the current market can not only be helpful, but essential. In this article we will discuss some tips recommended by the experts to help you sell your home fast.

To sell your home at a fair price, ask several real estate agent to estimate its value and ask them how much their agencies will charge you for listing and selling your home. If you cannot find a quick agency, you can list your home yourself very easily on the internet.

One way to increase profit on the property you're selling is to negotiate your broker's commission. Negotiating the commission can put more money in your pocket and a lower commission may give you room to price more aggressively. Always speak to your broker up front about this and make sure that both parties have an agreement in writing.

When trying to sell your real estate on the short sale, look into new regulations on how to sell the property. In the past, many people had to go into default on their mortgage, in order for the bank to consider a short sale. Now there are new federal programs so the you do not have to destroy your credit, just so you can negotiate a short sale with the bank.

If you are taking on a venture in selling real estate for others, make sure that you avoid homes in areas that have a large presence of sex offenders. These days, everyone is checking a great variety of resources in order to determine whether they are around sex offenders, especially if there are children in the home. You could find these homes almost impossible to sell - and someone difficult morally as well.

When selling your own home, you want to pay as much attention to the landscaping as the interior of the home. Detailed and well-manicured landscaping can throw a great deal of value into the home, allowing you to get the most out of your investment. You can actually brighten the appearance of the home overall through an elegant landscape.

Advertising is important, but it doesn't have to be expensive. Don't leave advertising solely to your realtor either. Put it everywhere, not just in magazines and classifieds. Today, the Internet is without doubt, the most popular way to look for a new home. List your house on a variety of websites. Make sure you post plenty of high-quality pictures.

If your front or back yard has too many trees, you may want to think about chopping them down before putting your home on the market. Many people are not interested in purchasing a home that has too many trees around it, while other people may simply be allergic to the trees.

One of the easiest ways to get more from your home is to choose a great real estate agent. Do not let your local agency simply assign you to the first agent available. Do your research and see who is selling homes in your area the fastest and for the best prices.

Consider the current market before deciding to fix your home or selling it as is. Many buyers want a home that is move in ready or needs minor repairs. Homes that require a tear down or complete renovations will most likely sell at a very low price and attract resellers or contractors.

A little effort invested in your home's landscaping can reap big dividends in the overall value of your property. Lush, verdant greenery is always appealing to potential buyers. A landscaping plan that reflects thought and care will improve your property's value and encourage potential buyers. By making small but constant improvements to the land around your home you can boost its selling price impressively.

When selling your home, always hire a Realtor who will take quality pictures of your property. A virtual tour is essential in today's market as well. Remember that your property will be marketed on the internet and so, top notch visual presentation is key to attracting potential buyers.

Letting natural light into your house when buyers are inside, will make your house appear cleaner and more natural. It will make the property seem very comfortable and will make the selling process a little easier. Everyone is drawn to a home that seems to have a lot of natural light coming in.

When determining the selling price of your home, you need to determine your motivation for selling the home and how urgent it is that you sell. A more urgent need to sell, such as an older adult who needs the funds to pay for long-term health care or an immediate job transfer, means that you will need to be a bit more flexible on price.

When selling your house, try to make it look as attractive as possible to a potential buyer. This doesn't need to be expensive: simply a lick of paint indoors or making sure the windows are sparkling. For outside attraction, plant some brightly colored flowers, and be sure that your lawn is freshly mowed.

If you need your home sold quickly, give your real estate agent an incentive. By agreeing to pay your agent, for example, 10% more on top of their standard fee if they sell your house within a month, you can dramatically increase your chances of a fast sell as your agent will be extremely motivated to find a buyer and secure a deal.

You can add some more value to your home by turning one of the extra rooms in your house into a home office space. Many people are working out of their homes these days so this will appeal to potential buyers who need to have office space in their homes.

In today's tough economy you have to remain competitive if you want to sell your home fast. In this article, we have provided you with some of the most recommended tips that will help you get your house sold. The path to success is not an impossible one, just follow our advice.

Follow These Tips To Help Your Home Sell Fast

If you're a seller in this market, you are probably asking many questions. "What's the right price to sell my real estate? How fast will it sell? What can I do to raise the value of my real estate?" This article can help you answer some of these questions. Below are several tips for sellers to maximize profit and ease the selling process.

If you have found someone who really wants to own your real estate, but the buyer is having a very hard time getting financial support, see if you can assist him or her. One such way could be a lease-to-own option. Important options such as paying for closing fees can be the difference between your house selling or not.

Know the value of your home. You may want to have the value assessed professionally every few years to make sure that you have enough home owners insurance to cover the cost of rebuilding the home if it should ever be destroyed. In many cases the value of a home goes up with time so you will need to increase the coverage accordingly.

When remodeling your real estate remember to stay tech savvy. Creating an infrastructure within your investment property, such as high speed cable and wireless systems can make the value of the property go way up. As society becomes more dependent on technical devices, the demand for these upgraded properties increases.

When listing your home on the real estate market to sell, make sure to take the time to learn what houses that are comparable to yours has sold for. Finding the right asking price can enhance or deter potential buyers. This could mean the difference between your house being on the market for a month or a year.

Deodorize your real estate before showing it to buyers. This is especially true if you are selling a house you have lived in. If you have been in the house for extended periods of time, you might not notice the way it smells. Neglecting to deodorize could turn off potential buyers.

Another trick to increase your chances of selling your home is to paint all your walls. Choose a neutral color when you do this. It doesn't have to be a basic white or beige, you can mix it up a little. Try a butter color in the living room or a light blue or green in a kids bedroom.

Don't forget your outdoor deck when staging your house. Buyers love outdoor living spaces, but they must be attractive. Power wash your deck and stain it if necessary. Make sure all of your plants are alive and well taken care of. Any outdoor furniture should be in great shape as well. Put away anything that is not in perfect condition so that it is out of a potential buyers view.

When selling your own home, you want to pay as much attention to the landscaping as the interior of the home. Detailed and well-manicured landscaping can throw a great deal of value into the home, allowing you to get the most out of your investment. You can actually brighten the appearance of the home overall through an elegant landscape.

When you are considering what price to list your home at, remember that most buyers begin looking for homes on the Internet and choose your number accordingly. Websites allow users to select prices in 25,000 to 50,000 number increments, so you don't want to choose a unique price that will be filtered out of most users' searches.

Get your home ready to move into. Make sure everything is up to code to make it easier on the buyer. You should be sure small things are fixed and appliances are in working condition. This way they won't have any maintenance to do upon moving in and can enjoy their new home.

Make sure that your bathroom is absolutely spotless and you kitchen is the same way. Many buyers look at the condition of those rooms first and if they do not like them then it is unlikely that they will purchase your home regardless of how all of the other rooms look.

If you have colors on your walls that are very bold and bright with many personal touches you should repaint the walls a soft, neutral color before attempting to sell the home. While buyers are aware they can change paint once the deal is through, it is just easier to imagine when they are looking at a blank canvas.

Don't be surprised if the housing market recovers more quickly than you expected, so you may want to hold off on selling your house until it does. While slumps often feel like they will never end, recoveries can come surprisingly quickly. Many experts expect the market to begin recovering in the near future.

When you decide to sell your house, you need to disconnect from it emotionally. That is because your emotional attachment will skew your perception of the whole selling process. You are not selling the way you live; you are merely selling the building in which you are living. When you approach this objectively, you will be able to sell your house efficiently.

Fantastic Home Selling Tips Any Home Owner Can Use!

When selling real estate there is always a lot going on. There are so many balls to keep in the air that it can be overwhelming, or at least it can seem overwhelming. Here are some great tips that you can use for your next sale to ease the process.

Maximizing the impact of a good first impression can translate into a sold sign! Most buyers have an image in mind of their dream home and you want that dream realized the minute they lay eyes on your property. Invest in a landscaper or enhance the outside of the home yourself; but make sure everything is mowed, trimmed and aesthetically pleasing at first sight.

Clean your home thoroughly before showing any potential buyers around. Unclean windows, kitchen counters covered in dirty dishes, soiled carpets, stained curtains, floors covered in filthy washing, piles of old newspapers, smelly toilets, spider's cobwebs in room corners and dusty furniture can make your home very unappealing and difficult to sell.

Clearing out closets and other storage areas will allow potential buyers to visualize their own items in that space! The more a prospect can see your home as their home by picturing themselves, their family members and their belongings inside it, the more interest they will have in buying it. Empty half of your closets, drawers and cupboards as if to welcome the new owner and you will have one much sooner!

When selling your house, you need to be very wary of the buyers that ask you to take back financing. There are so many banks and mortgage companies that can help them out, you should have nothing to do with the financing aspect. You are not a banker, and you shouldn't need to take on that responsibility.

Whether you intend to sell your home or simply refinance it, having its value assessed should be done very early in the process. An assessor's valuation of your home will dictate how it is treated by potential buyers, real estate agents and loan officers. If you make your own guess about the value of your home before a professional appraises it, you are counting your chickens long before they hatch.

If you are trying to sell your home, remove all personal items from display. This means to take down family photos, calendars, etc. A buyer needs to be able to envision their own belongings in the space. Having a photo of your baby on display makes it harder for them to do this.

You should put your house on the market at the end of winter. Many people make the mistake of putting their home on the market too late. A potential homebuyer will be interested in buying their home and moving into it before the next school year starts so their children will not have to transfer schools during the school year.

To make money flipping real estate you need to find solid houses that need cosmetic repairs. Without having to invest big money into major system repairs, you can get more bang for your buck by updating and freshening a home's cosmetic appearance and make it appeal to buyers who do not have the confidence to do those type of repairs.

Be sure before choosing a real estate agent or agency to check online for reviews. It is always wise to check the reviews for something before you spend money on it. Choosing a real estate agent is no different. You can find plenty of sites that review agents online. Read through these reviews before you make your final decision.

It is not a wise idea to invest too much into a property you are trying to sell, but you should invest a little to get the place spruced up. Polishing the woodwork and putting on a fresh coat of paint will show any potential buyers that you take pride in what you are trying to sell them.

Keep the exterior of your home up to date when trying to sell your home. If your home needs it, paint the exterior. Also, make sure your landscaping is attractive. The exterior of your home is what a potential buyer sees first and it is what gives them either a good or bad, first impression.

Before you decide to sell your house on your own without the assistance of a real estate agent or broker, thoroughly weigh the pros and cons of such an undertaking. You may find that the costs associated with selling through an agent are not terribly higher than the costs of taking on the project yourself.

Keeping your home tidy when it is on the market for sale is very important. Keep or learn the habit of picking up papers, trash, coffee cups or water bottles. Vacuuming and dusting should happen every day. Never leave the trash can in the kitchen or bathroom full. Take the trash out every morning and before every showing. No potential buyer wants to see your trash. Keep the laundry room tidy as well and if you have to, store dirty clothes in the washer and dryer.

When selling your home, you should try to brighten up your bedrooms. You should remove all items that are not necessary in the room. This will give the effect of having a lot of space in a room. You should try to place colorful sheets and blankets on the beds. Always use fresh curtains in rooms that you will be showing.

Provide a place on your website or in your office where previous and present clients can enter in their names, addresses, or only their e-mail address to be added to your agency's mailing list. You can create regular newsletters and announcements that match different mailing list interests; you may have a separate list for residential and commercial properties.

If you dread the sale of your home because of all the work and stress related to it, then hopefully this article has put your mind at ease a bit. The information here has shown you that if you have the right advice, you can sell your home or property without so much stress and hassle.

Discover The Secrets Of Successful Real Estate Sellers

You may be stressed with the complicated matters that come with selling your home. By being stressed, you may not be making the most wise decisions. In the following article, you will be given important details that will help ease your stress, and therefore, help you to make sensible decisions.

The Internet can be a godsend to the homeowner looking to sell a house. Online house listings put tons of information in front of the potential buyer, and they update much faster than other listings. Making use of real estate websites can save the buyer or seller plenty of footwork and let him or her devote more time to the other aspects of home buying.

When selling your home, always consider your personal safety and security. Never let a potential buyer into your home without a Realtor. They could be setting you up for a crime. Also never leave valuables out when showing your home. This can be an open invitation for a robbery.

If you are showing your home at night, turn on all of the lights. It appeals to buyers when your home seems welcoming. You should turn on all lights, indoor and outdoor. Turning on the lights can add color to your home. It can also give a warming effect. With all of the lights on, the buyers will be able to see all of your house easily.

Your home must be priced in line with the market and area or lower. You may think your house is worth that extra 100 grand, but buyers will be turned off. Going a little above market rate can work out but be careful. There are a lot of homes on the market and if your price too high, you won't have any hits from prospective buyers.

When you are selling a property and you want to get the most profit for your investment, concentrate on repairs. You should repair any permanent fixture on or in the property. The real estate market can be a highly competitive market and only those properties in the best shape will sell for the biggest profit.

You should find out if other homes in your area are selling before you decide to put your house on the market. Your real estate agent should be able to tell you if it is a good time to sell your home and how much you should ask for it. This is a great way to be sure that you are selling your home quickly.

Real estate agents across the country are reporting the rise in requests for homes with garden ponds. Consider adding this to the front lawn area, or tucked away in the back garden. They are a peaceful retreat as well as a draw for local wildlife. The avid outdoor person will love the idea of deer in their front or back yard.

If you have had your home on the market for a while and would like to get it sold, try offering a seller contribution to help the buyer pay the closing cost while keeping the asking price where you had it. It is appealing to a lot of buyers and it will likely keep your profits up on your home.

When you have someone coming to look at your home, you should try to avoid having a house full of people. When you have a lot of people in your home, the buyer may feel like they are an inconvenience to you. They may rush through your home and not see all of the appeal. It is best to keep your house guests at a minimum during these times.

It seems like a no brainer, but take the time to clean your house from top to bottom before starting to show it. Your house should be a show piece before buyers get there eyes on it. Bleach your grout, re-caulk your tubs and wax the floors. Simple steps like these will make your house much more appealing to a buyer.

Do some research about what the other homes in your neighborhood have sold for. You can learn a good bit about how much per square foot you should set the asking price for your home at. It is a great starting point when determining the asking price for the home.

If you are selling your home, make a plan before listing it. Find a listing price but also find a price that you are willing to let your home go for. Set some dates to hold open houses, prior to listing so that you can be sure to be ready for the day when it comes.

When considering curb appeal, remember that the condition of your siding can count a lot. Replace any worn or damaged boards and maybe consider a coat of paint. This gives buyers the right first impression - that the house has been cared for. The time you spend doing this can equal a faster sale and additional dollars at closing.

When you put your house on the real estate market, resist the temptation to inflate your asking price. Always put a fair and reasonable price on your home. Setting an unreasonable price - even if you intend to let it fall in negotiations - establishes an unfriendly and antagonistic attitude that will make any sale an ordeal.

Take a good look at all the furniture pieces that you have out in your room. Even though you may thing that you need all of them, try to get rid of some of them. You want to be able to create a bit of empty space in the room so that the room appears bigger.

As stated in the beginning of this article, there are many complicated matters that arise when dealing with selling your home. By letting these matters disrupt your thoughts, you may not be making the wisest of decisions. Use this information to help you make vital home selling decisions that will benefit you in the long run.

Tahoe is the highest U.S. lake of its size and the largest alpine lake in North America.

Martis Camp, Truckee, California

At 193 square miles and 6,229 feet of elevation, Lake Tahoe is the highest U.S. lake of its size and the largest alpine lake in North America. Naturally, with 72 miles of shoreline and 182 nearby ski trails, Lake Tahoe has long been a leisure traveler's dream destination.

Now, the area is humming with real estate activity for those seeking a more permanent four-season lifestyle. And the epicenter for this piece of luxurious lakefront living is the California side of heavenly Lake Tahoe.

To be precise, one of the hottest high-end real estate pockets is an exclusive private country club community called Martis Camp. Located between Truckee and North Lake Tahoe in the Martis Valley, this 2,177-acre gated golf course development recorded nearly $30 million in real estate transactions through the first six months of the year.

And this strong start to 2012 is on top of $90.2 million in real estate sales from the previous year - making Martis Camp one of the fastest-selling master-planned developments in America. According to a Martis Camp official, the surge in real estate sales has largely been spurred by the tech boom in Silicon Valley.

For instance, many of Martis Camp's property owners and club members are executives at Apple, Facebook, Yahoo, Google and other leading tech companies. Besides its sheer High Sierra beauty, what makes Martis Camp so attractive are its many year-round amenities and attractions.

From its world-class championship golf course designed by highly acclaimed architect Tom Fazio to ski access in the winter months via the club's private "express lift" to neighboring Northstar California, Martis Camp is a true four-season second-home community. The family friendly club also caters to multi-generation what with the Family Barn complex that features swimming, a bowling alley, movie theater, outdoor performance amphitheater, sporting fields and more.

One of the more exciting developments at Martis Camp is the new Lookout Lodge - a 7,500-square-foot slope side mountain clubhouse with direct chairlift access to the adjacent ski resort Northstar-at-Tahoe, California.

Meanwhile, Martis Camp recently released 58 of their Cabin Homesites this summer to meet the continued demand of potential homeowners. These coveted homesites start in the $500,000s and are located just steps from the Family Barn, Camp Lodge and golf course.

"We have been very pleased with the strong sales activity and overall response to Martis Camp," Martis Camp general manager Mark Johnson said. "It's been our vision from day one to create an incredible retreat for family and friends, and the continued growth and interest of the community is turning that initial vision into a reality."

In many ways, Martis Camp and the surrounding Lake Tahoe region is benefitting from the perfect storm, fueled by the surge in Silicon Valley money and a wave of capital flowing into the destination led by major resort owners/developers such as KSL Partners and Vail Resorts.

Vail Resorts Northstar-at-Tahoe, California

Perhaps Vail Resorts, a publicly traded company (NYSE:MTN), got the capital flow jumpstarted when it acquired the popular Northstar-at-Tahoe Resort nearly two years ago as part of a $63 million deal. Vail Resorts, which is in the midst of more than $30 million in capital improvements at Northstar, now operates two mountain resorts in the Lake Tahoe region, including Heavenly Mountain Resort in South Lake Tahoe.

Of course, Vail Resorts' acquisition of the Northstar property was on the heels of a banner 2009-2010 ski season when Northstar-at-Tahoe welcomed more than 700,000 skier visits and the Ritz-Carlton Highlands, Lake Tahoe officially opened its doors.

Situated at mid-mountain and featuring ski-in, ski-out access, the Ritz-Carlton entered the market as a year-round resort with 170 guest rooms, 23 private Ritz-Carlton Residences and 25 Ritz-Carlton Club fractional units.

More recently, another major player to put their stamp on the region was KSL Capital Partners, which recently purchased nearby Squaw Valley and committed to $30-$50 million in capital improvements over the next three years.

India Real Estate Investments Hurt Diamond Industry

High-flying diamond traders in India, struggling with a slowed industry, have been looking to real estate to recoup losses since 2010.

Instead of using bank loans to shore up their diamond trade, entrepreneurs have been using the money to purchase speculative real estate properties. But now that real estate is also facing hard times, the traders are in a catch-22 with their lenders.

It isn't often that real estate investments in India are blamed for hurting any other industry. Analysts note that although the diamond industry probably could have used the real estate investment money to improve its bottom line, Diamond World reports India is still ahead of the 2011 general industry performance.

The crisis that has plagued India's diamond industry can be attributed to large and medium-sized firms diverting a total of $5.5 billion worth of loans obtained from Indian banks to the real estate market, reports The Times of India.

"These companies have engaged in speculative buying of rough diamonds and real estate since 2010, but with the real estate market struggling and the drop in prices of rough diamonds, the major industry players are taking significant losses," according to the Israel Diamond Industry Portal based in Ramat Gan, Israel.

The Israel Diamond Industry Portal further cites The Times of India as noting that since the entrepreneurs "were able to obtain financing through cheap loans from banks that extended much credit, the small businesses are the ones who suffer most, since the (diamond) industry is in the midst of a downturn."

"A huge amount of cheap bank finance availed by a few black sheep in the industry is diverted to real estate and speculative deals in rough diamonds since 2010," Sanjay Kothari, the vice chairman of the Gems and Jewelry Export Promotion Council, told The Times of India. "The money is being pumped out from the diamond pipeline and this is creating a lot of problems for the rest of the players."

On a related factor, Diamond World reports Indian polished diamond exports fell 44% in May to only $1.245 billion. In terms of volume, the exports dropped by 50% to 2.574 million carats 

India's exports of rough diamonds also took a hit in May, dropping in cash value year-to-year by 25% to stand at $116.9 million.

Are we responsible for our parents' reverse mortgage?

My parents, now deceased, had a reverse mortgage on their Florida home. The total paid out exceeds the current value by at least $40,000. What are my brothers' and my financial obligations regarding the house? We do not want it and are in the process of allowing the bank to take it through foreclosure. — William M.
The bank's claim against your parents' estate is limited to the house, because reverse mortgages are considered non-recourse loans, says Keith Amburgey of Rutherford Asset Planning in Tampa, Fla. The bank should have no claim against you or your brothers unless you were originally part-owners of the home or co-signers on the loan. If not, you can allow the bank to foreclose upon the house.
"However, if you are part-owner of the home or the loan, be proactive in contacting the lender," says Connie Brezik, a financial adviser with Asset Strategies in Scottsdale, Ariz. Banks are inundated with foreclosed homes in the aftermath of the housing crisis, and they are unlikely to want to take on another property. You may be able to work out a deal where you end up paying little or nothing on the remainder of the mortgage, says Brezik. In the end, you may find that holding on to the home is an unexpectedly good investment.

San Francisco Italianate Mansion

Listing in San Francisco California United States

Category: Residential
Transaction Type: For Sale
Property ID: DD293632
San Francisco California United States
Price: $27,500,000 (USD)

9 bedrooms | 7 bath

Size (square feet): 16000
Summary: Located in San Francisco’s prestigious Cow Hollow, this 2008 San Francisco Decorator Showcase home showcases exquisite architectural detailing throughout, featuring; seven bedrooms (all ensuites),eight full bathrooms and three half bathrooms, formal living room, formal dining room, reception hall, grand foyer, mezzanine, library, seven fireplaces, eat-in kitchen, media room, family room, wine room, au-pair quarters with kitchen, home gymnasium, five walkout terraces, six cast bronze balconies, garden, exterior illumination and irrigation, gated driveway with parking plus four plus car garage, elevator, security system with cameras, two laundry facilities, wired for Wi-Fi and automatic drapery, Luton lighting throughout. From the breathtaking views on all floors spanning from the Golden Gate Bridge to Coit Tower and the elevator that goes to the large sheltered and private roof deck, this home genuinely represents the ultimate in City Living. Built in 1905 by James A. McCullough, this majestic Italianate Villa of approximately 16,000 square feet has been lovingly restored and renovated using the finest materials and craftsmanship to create the ultimate in state-of-the-art amenities and luxury living. Yet, it still retains the elegance and beauty of the classic era in which it was built. The hallmark of this extraordinary home is the dramatic formal entry and Tiffany skylight. The phenomenal grand formal foyer is the gracious entrance to gorgeous over-sized rooms and welcomes you into one of San Francisco’s most spectacular homes. The remarkable architectural detail from the Beaux-Arts period includes an amazing Tiffany fountain, ornate carved ceilings, white marble floors and gracefully curving marble stairway. The ceiling of the mezzanine, off the grand staircase embraces the beauty of a magnificent Tiffany skylight. This work of fine art rich in color, depth, and design is truly breathtaking.

Contact Details: Daniel DerVartanian [Send Message]
Company: Sotheby's International Realty
Contact Number: 415-901-1727

Listing in Cotia Sao Paulo Brazil

Category: Residential
Transaction Type: For Sale
Property ID: PRVTE0711

Cotia Sao Paulo Brazil
Price: $257,321 (USD)

bedrooms | bath

Summary: Excelente lote de 686 m2 em declive com fundos para área de preservação do condomínio
Acesso pela Raposo Tavares, saída km 28.

Infra-estrutura totalmente pronta:
Portaria c/controle de acesso e vigilância 24 horas,
Guias, sarjetas e ruas pavimentadas

Sistema de distribuição de água potável e rede de esgoto, via Sabesp
Rede elétrica e iluminação pública
50.000m2 de área verde preservada.

Piscina
Quadra Poliesportiva
Fitness Center
Playground
Salão de Festas
Quiosque com churrasqueira
Salão de Jogos
Pagamento
15% de sinal saldo em até 60 vezes
Mais informações pelo tel. 011 4777-0707

Former American Stock Exchange Headquarters, Neighboring Site Purchased for $150 Million

Former American Stock Exchange Building

The former American Stock Exchange headquarters in Lower Manhattan at 86 Trinity Place was sold last week to New York-based Fisher Brothers, a family-run real estate investment company.

The purchase price for the 91-year-old, 181,725-square-foot vacant building  and a neighboring 154,275-square-foot office building at 22 Thames Street (the latter which is slated to be demolished), was approximately $150 million, according to Real Capital Analytics. A new building will be built at 22 Thames Street, while the 86 Trinity Place building will be redeveloped.

According to RCA's website, Michael Steinhardt and Allan Fried, the sellers, purchased 86 Trinity Place for $17 million and the 22 Thames Street building for $48 million in February 2011.

"What is interesting about the properties is that the sellers bought them for half price less than two years ago," says Dan Fasulo, managing director at Real Capital Analytics. The former American Stock Exchange building, a landmark building, is located near the World Trade Center property, he says.

Although the Fisher Brothers declined to talk to the press on Tuesday, according to an article in The Real Deal, Steinhardt and Fried said, in published reports in June, that they intended to build a 174-unit hotel with 100,000-square feet of retail at the 15-story stock exchange building. Furthermore, in July, they said that they wanted to build a 300,000-square foot residential building at 22 Thames Street.

The Fisher Brothers firm has been a developer and building owner in New York since the 1950s. The company owns such Class A office buildings as the Park Avenue Plaza, 1345 Avenue of the Americas and 299 Park Avenue. It is also a residential developer, having built 50 Sutton Place South and Imperial House at 150 East 69th Street a number of years ago. More recently, it built an Upper East Side condominium called Chartwell House.

Thomas Properties Group and CalSTRS have formed a new ownership entity, called TPG/CalSTRS Austin, LLC

Frost Bank Tower

Los Angeles-based Thomas Properties Group, Inc. and the California State Teachers' Retirement System together purchased an eight-building, three-million-square-foot portfolio of office properties in downtown and suburban Austin, Texas. The purchase price was $859 million, which is subject to prorations and adjustments. The deal closed yesterday. 

The portfolio was purchased from TPG-Austin Portfolio Syndication Partners, a venture among Lehman Brothers Holdings Inc., an off-shore sovereign wealth fund and TPG/CalSTRS LLC.

Thomas Properties Group and CalSTRS have formed a new ownership entity, called TPG/CalSTRS Austin, LLC, for the Austin portfolio. The Thomas Properties unit is the managing member with a 50% interest and CalSTRS owns the other 50%. As part of the purchase price, TPG/CalSTRS Austin assumed the existing first mortgage loans totaling $626 million.

An affiliate of Madison International Realty--an equity provider to real estate investors and companies worldwide-- has agreed to buy a one third interest in the Thomas Properties Group's subsidiary that owns the interest in TPG/CalSTRS Austin.  Thomas Properties Group is the managing member of the subsidiary and will act on its behalf as the manager of TPG/CalSTRS, Austin. "Madison International is already one of Thomas Properties shareholders, after investing $50 million in our company last May," says John Sischo, co-chief operating officer for Thomas Properties Group in Los Angeles.

"Thomas Properties had had a 6.25% interest in the Austin portfolio, even before this latest acquisition," says Sischo. Although Thomas Properties is also a developer, it didn't develop any of the portfolio properties, he says. Lehman Brothers had been a 50% partner in the portfolio, but Thomas Properties bought out Lehman, says Sischo.

Thomas Properties has been engaging in a deleveraging strategy, says Sischo. In a statement from last December by Jim Thomas, chairman and CEO of Thomas Properties, he said, "Our strategic plan, announced earlier this year, includes pruning selected properties and reinvesting proceeds from those sales in properties with repositioning opportunities and/or greater internal growth." The fourth quarter 2011 sales of Centerpointe I & II, an office complex with adjacent land in Houston, and a parcel of land in El Segundo, California, have generated a combined $25.5 million in net proceeds to the company and demonstrate continued momentum in the execution of our plan."

August Manhattan Office Leasing Activity Down from July

According to CBRE's "Manhattan Marketview Snapshots" for September, 2012, the performance of this office market is mostly down, but up slightly year-over year.

While the 1.87 million square feet of leasing during August was below July's tally of 2.61 million square feet, it was above the 1.53 million square feet of leasing recorded in August 2011. Still, year-to-date leasing, at 14.78 million square feet, remained below 2011's year-to-date total of 19.42 million square feet.

Although Manhattan recorded 210,000 square feet of positive net absorption during August, year-to-date absorption was a negative 2.21 million square feet. In contrast, net absorption levels for the same period in 2011 was a positive 5.27 million square feet. Manhattan's average asking rent remained stable at $56.11 per square foot and the overall availability (vacancy) rate went down 10 basis points to 10.9%, according to CBRE.

Among the recent highlights for Manhattan's leasing market is the 200,000 square foot lease for the international law firm of Chadbourne & Parke at 1301 Sixth Avenue. The deal was the largest lease transaction by a law firm in 2012, according to Real Estate Weekly, an online newsletter. Although the firm is relocating from a 300,000-square-foot space at 30 Rockefeller Center, that space is being taken over by the accounting firm Deloitte. Chadbourne considered moving to One World Trade Center, according to the newsletter.

According to a September 7th report by Reuters, The World Trade Center is being used as a bargaining chip: "Companies renegotiating their property leases in New York are seeking lower rents by playing the World Trade Center Card--threatening to move to the towers rising from the rubble of the 9/11 attacks."

The Reuters report says that banks, law firms, advertising and accounting firms are content to stay in Midtown, which is close to their clients and transportation links. Plus, Lower Manhattan has fewer amenities for office workers, such as shops and restaurants, and many firms and their workers worry that a new World Trade Center could again become a target for attacks.

According to the CBRE report, downtown leasing totaled 280,000 square feet in August, 13% below the five-year monthly average of 320,000 square feet. Year-to-date leasing at 2.99 million square feet was much lower than the 2011-year-to-date figure of 4.35 million square feet. There were 150,000-square- feet of negative absorption in August in downtown, and year-to-date absorption levels were also negative. The vacancy rate increased by 20 basis points to 10.4%. 

Russians Rushing to Buy Vacation Homes Abroad; Bulgaria Top Spot

There is a vacation home-buying frenzy going on in Russia these days.  Only the frenzy isn't centered in buying residential properties in Russia. It is in buying the homes in Eurozone countries where real estate often has gone through the floor.

Bulgaria right now is the favorite hunting ground.  According to the country's Ministry of Justice, about 340,000 Russians have already bought houses there. Global real estate research groups estimate Russians rank fifth by the volume of investment in real estate in Western Europe.

But France, Spain, Portugal and Cyprus are also offering fire-sale prices for the Russians, many of whom believe they are buying the vacation homes for both leisure and as a long-term investment.

However, that is a misconception that may shock many Russian buyers when they try to sell their properties in the immediate future, according to Russia & India Report, a periodical produced by Rossiyskaya Gazeta, a leading Russian daily newspaper.

Curiously, the frequently publicized Black Sea coast of Russia is in little demand due to its inadequately high prices and imbalanced investment policy, international brokers note.

The paper quotes Gennady Gudov, director of a foreign real estate agency, as saying many buyers "could be chasing pipe dreams."

Gudov says, " Real estate for investment and real estate for vacationing are rarely the same type of real estate. The most important thing that every potential buyer should have in mind is that if the investment in the real estate is ever going to pay off, it will take a great deal of patience."

Five years ago only the wealthy could buy houses by the sea outside of the former Soviet space. Today many middle-class Russians are seeing the appeal, "even if it means going into debt," the newspaper reports.

The paper notes that many of the vacation home-buying Russians may not yet be aware of the risks in buying properties abroad.

"The global financial crisis has transformed what once was a gold mine into a housing bubble," according to the paper's special report.

The real estate markets of Bulgaria, Montenegro, Croatia, Cyprus, Thailand, Spain, Turkey and the UAE, where Russians are especially actively buying 'houses by the sea,' have frozen.

"There are many unsold and unfinished buildings, and buying real estate in those countries is not a problem, but it will be impossible to sell it fast if the owner is in need of money," the report states.

The secondary housing markets are affected by the low demand, partially due to ever newer and cheaper offers from developers

Spokane is Where Everything Old Is New Again

Radio Flyer Red Wagon in Riverfront Park

Spokane, Washington is one of those off-the-beaten-path places in which you find yourself wanting to stay longer.

This city of 200,000 in eastern Washington State is blossoming with restored historic neighborhoods, and old, once-dilapidated buildings that have been turned into trendy restaurants and chic boutiques. This city's dedicated to preserving what's best about it, and to bringing new life to old buildings and institutions.

In contrast to western Washington, this area gets a lot of sunshine. As a result, outdoor recreation is huge here. The Centennial Trail is a 37-mile trail to the Idaho state line, now part of the Rails-to-Trails system, and a great place to hike or bike. And the Spokane River - on which you can canoe or kayak or fish - runs right through downtown.

The heart of the city is Riverfront Park, a hundred wooded acres filled with interesting attractions and great picnic spots...and the river in the middle. These grounds were once an old, polluted rail yard. But - typical of Spokane - they've been transformed into a beautiful urban park that's now the city's central gathering spot.

Here, you'll find the Radio Flyer, a red wagon that brings you back to your childhood...except this red wagon is 12-feet high, 12-feet wide, and 27-feet long! And kids of all ages can scamper up to the top and play on it! Also in the park are a Turn-of-the-Century carousel, and the Riverfront Park Clock Tower, created by the Great Northern Railroad in 1892. The newest addition to the park is the Spokane Sky Ride, which takes you in a cable car over the thundering Spokane Falls.

There's great shopping downtown at the attractive River Park Square Mall, with an array of upscale shops, restaurants, and boutiques. And just outside the mall is leafy River Park Square, which, in a vibrant testament to Spokane's love of the outdoors, is surrounded by a series of sculpted, life-sized bronze runners.

The city's "preserve the past" ethic is evident in places like The Steam Plant. This beautiful old Industrial-Age structure heated downtown Spokane until the 1980's. Now it's home to one of the most unique eateries in America, Stacks Restaurant, a multi-level fantasy complete with exposed pipes, hatches, pulleys, red-brick walls, and machinery from that earlier age.

Other re-purposed structures include The Elk, once a drugstore in the historic Brown's Addition neighborhood. It's now an indoor/outdoor restaurant with a funky décor and great Northwest salmon. (The Elk was featured on The Food Network's "Diners, Drive-Ins, and Dives.")

Zola Bar is a popular after-hours gathering place - with good reason. It has the distinction of being made - totally! - of items found in local junkyards, including sawed-off rowboats used for booths, old signs to cover the holes in the walls, antique barstools, and drinking glasses from old railroad cars. And it's surrounded by colorful antique shops and collectibles shops (comic books!)...again, all in restored old buildings of red-brick and stained glass and bay windows.

Gulf Coast Residential Property Damage Exposure from Hurricane Isaac Projected to be $27 Billion

According to new data released today by CoreLogic, there is potentially over $27 billion in exposure to residential property damage from storm surge flooding as Tropical Storm Isaac makes its way across the Atlantic Ocean along a projected path toward the Gulf Coast.

"Based on current forecasts, Tropical Storm Isaac is predicted to strengthen into a Category 1 hurricane and become the first hurricane to impact the United States this year," said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions.

Miami's Pending Residential Sales Increase 31% Over Last Year

Martha Pomares

According to the Miami Association of Realtors, the total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of July increased 31 percent, from 2,593 to 3,393, year-over-year and 2 percent compared to the previous month.

"Despite very low levels of housing inventory in Miami, pending sales activity continues to increase, a sign that demand will continue to yield strong price appreciation," said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. "We are at point where we're seeing a shortage of housing inventory in Miami.  We need more supply to satisfy demand."

Total Cumulative Pending Sales

Total cumulative pending home sales - including single-family homes and condominiums - in Miami-Dade County currently are three percent above what they were a year ago, up from 11,915 to 12,210, but .5  percent below what they were the previous month, down from 12,272.

Pending sales of single-family homes were 9.4 percent above what they were a year earlier, up from 4,941 to 5,407, and 0.5 percent below the previous month, when pending single-family homes sales totaled 5,380. Pending sales of condominiums were three percent lower than they were a year earlier, down from 6,974, and 1.3 percent below what they were the previous month, down from 6,892.

Patricia Delinois

"Miami real estate is in the midst of a mini-boom with sales levels remaining strong as inventory sharply declines, resulting in rising prices," said 2012 Miami Association of Realtors Residential President Patricia Delinois. "Further, this demand is not expected to subside as Miami remains the top market in the nation for international buyers and experiences significant population growth and positive net migration from other states."

Nationally, the Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June, according to the National Association of Realtors. The index is 12.4 percent higher than the 90.5 index reported in July 2011.

Increased pending sales are an indication of increased future sales. A sale is listed as pending when a contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Toll Brothers to Develop Baker Ranch, a 2,000 Unit New Home Community in Orange County

Luxury home builder Toll Brothers and the Shea family of companies should be starting site work soon on a new 2,000-unit community in Orange County, California.

Toll Brothers, one of the nation's largest luxury home builders, and Shea Baker Ranch LLC recently announced their partnership to develop Baker Ranch, a master-planned community approved for more than 2,000 new homes in Lake Forest, Calif., one of south Orange County's most desirable markets.

Segmented into three villages, Baker Ranch will be comprised of approximately 1,780 single-family homes and up to 414 rental apartments. Designed to appeal to a variety of buyer profiles and price points, Baker Ranch will offer a broad range of product lines, including single-family attached, detached and multi-family homes.

The companies anticipate homes will be offered for sale in the spring of 2014.

Overall, the master plan contains approximately 40 acres of open space and recreation areas including an 8.4-acre central park, seven neighborhood parks, of which three are planned with private recreation clubs, and walkways and bicycle paths that will link all neighborhoods to the parks and recreation facilities. The City of Lake Forest is currently constructing a nearby community park and sports facility featuring up to six baseball/softball fields, five soccer fields, six hard courts for basketball or tennis, two large playgrounds and a 30,000 square-foot recreation center with a gymnasium and an attached amphitheater.

Baker Ranch, Calif.

"We look forward to working hand-in-hand with Shea to develop Baker Ranch into one of Southern California's premiere master-planned communities," said James Boyd, Toll Brothers' regional president for California. "We are excited to continue to deliver the extraordinary homes that our buyers expect from the Toll Brothers brand."

Baker Ranch is the last significant portion of the roughly 5,000 acres of land acquired by the Baker and West families in the late 1950s, which has evolved into most of what is today's City of Lake Forest.

"We are thrilled to be in partnership with Shea to develop this spectacular site, which is among the last remaining large properties in Orange County, one of the nation's premier markets in which to live and work," said Toll Brothers CEO Douglas Yearley. "Together with Shea, we will create a wonderful place for residents of Southern California to enjoy the unique lifestyle of this special region.

"Our history of building homes and developing master-planned communities in Orange County dates back nearly twenty years. The size and scope of this community will ensure we are able to continue this tradition and serve our customers in this market for many years to come."

New Plans Announced for Puerto Rico's New Hyatt Place

Hyatt Place Manati

Hyatt recently announced plans to have Hyatt Place Manatí open in early 2014, representing the company's second Hyatt-branded select service hotel in Puerto Rico. The new hotel, currently under construction, will join Hyatt Place Bayamón Hotel & El Tropical Casino when it opens.

Hyatt Place Manatí will have 104 guest rooms in a five-story building, with an adjoining 11,500 square foot casino, and a free-standing casual dining restaurant.

According to Hyatt Hotels Corporation, a Hyatt affiliate entered into the latest Hyatt Place hotel agreement with Island Hospitality Partners, LLC, a joint venture of PRISA Group and McConnell Valdes Consulting.  Island Hospitality is also the owner of Hyatt Place Bayamón Hotel & El Tropical Casino, which is currently under construction and is expected to open in 2014.

"We are glad to work with Island Hospitality on a second Hyatt Place hotel project in Puerto Rico," said Pat McCudden, senior vice president, real estate and development Hyatt Hotels & Resorts. "We believe that the Hyatt Place brand and the location of the hotel in Manatí will have strong appeal to business and leisure travelers visiting the region."

The municipality of Manatí, located less than 40 miles west of San Juan, is headquarters to a host of multinational corporations and pharmaceutical companies, as well as the Manatí Medical Center and Doctors' Center Manatí, two of Puerto Rico's most prestigious hospitals.

"We believe in the Hyatt Place brand and think the hotels will have strong appeal in both Bayamon and Manatí," said Federico Stubbe, Jr., president of PRISA Group. "Hyatt Place Manatí & Casino and Hyatt Place Bayamón & El Tropical Casino will bring Hyatt's world-class hospitality to Puerto Rico."

Currently, there are more than 165 Hyatt Place hotels in operation in the United States, with more than 35 Hyatt Place hotels under development throughout the U.S., Europe, the Caribbean, China, Latin America, Southwest Asia, and the Middle East. The first two Hyatt Place hotels outside the United States are expected to open later this fall: Hyatt Place San Jose Pinares in San Jose, Costa Rica and Hyatt Place Hampi in Hampi, India.

Island Hospitality Partners is a joint venture of PRISA Group and McConnell Valdes Consulting.  PRISA and McVC have combined their expertise and resources in the planning, development, construction and operation of hospitality, residential and mixed used projects to form Island Hospitality Partners, LLC, creating a strong team capable of executing all necessary tasks for the successful development projects from conception to operation.

PRISA Group is a family-owned developer and builder of green residential communities and resort hospitality projects in Puerto Rico and Florida with over 6,000 units in planning and construction, representing a value of over $3 billion.  The firm has delivered over 3,000 units in the last 20 years and is currently developing projects in Dorado, Vega Alta, Gurabo, San Lorenzo, and Humacao, Puerto Rico, as well as in Tampa, Fla.

Wildfires Pose Risk to More Than 740,000 Western U.S. Homes, Says CoreLogic Report

According to CoreLogic's newly released Wildfire Hazard Risk Report, more than 740,000 residences across 13 states in the western U.S. currently at high or very high risk for wildfire damage.

These homes represent a combined total property value estimated at more than $136 billion, and approximately 168,000 of these homes fall into the Very High Risk category alone, with a projected aggregated value of more than $32 billion.

"Over the last two decades, wildfire has been responsible for billions of dollars of property damage. Wildfires dominated news headlines in 2011, and again this summer, they have been responsible for record-setting property destruction across a swath of states spanning the West, from Colorado to Idaho to Washington," said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions.

Reliance Industries Developing 4 Million Feet of Retail Projects in India

Already the largest private sector conglomerate in India, Reliance Industries Ltd. (RIL) is developing four million square feet of retail space in North India, plans a 720,000-square-foot, $55 million commercial complex at Alaknanda, is building a mall in South Delhi and has 20 other sites lined up for additional shopping centers in Delhi.

RIL is the flagship company of the Reliance Group, India's largest private sector enterprise with businesses in the energy and materials value chain. Reliance Group's annual revenues are over $66 billion, according to the company. Reliance Industries Ltd. is a Fortune Global 500 company.

Although RIL's core business is petrochemical, refining and oil and gas, the company says it wants to become one of the largest real estate organizations in India as well. Its subsidiary companies cater to textile, retail business, special economic zone (SEZ Development) and telecom/broadband segments.

According to The Ground Report of India, RIL plans to make its real estate business complimentary to its retail segment that will enable it to gain ground in both arenas.

"The company's foray into the real estate will further enable it to tap a new market and enable it to support its retail business," states The Ground Report.

According to a company official, RIL will use the land Mukesh Ambani won in a Delhi Development Authority bid for around Rs.400 crore in 2007 to construct its five-story Alaknanda complex. This project is tentatively scheduled for completion by 2014.

 It will use two-fifths of the retailing space to house brands owned by Reliance Retail (a subsidiary arm of RIL). The complex will have ground level space and three basement levels, along with parking space for more than 1000 cars and 700 two-wheelers.

While it is waiting for a go-ahead from the Delhi Pollution Control Committee, RIL says it already has the green light from the Union environment and forest ministry for this project.

According to The Ground Report of India, RIL was on a buying spree several years ago when it procured shopping complexes and mall sites in and around 150 cities in India.

 Its real estate projects include Reliance Corporate Park in Navi Mumbai that serves also as a convention center and a world-class hospital in Mumbai.

Reliance Industries Developing 4 Million Feet of Retail Projects in India

Already the largest private sector conglomerate in India, Reliance Industries Ltd. (RIL) is developing four million square feet of retail space in North India, plans a 720,000-square-foot, $55 million commercial complex at Alaknanda, is building a mall in South Delhi and has 20 other sites lined up for additional shopping centers in Delhi.

RIL is the flagship company of the Reliance Group, India's largest private sector enterprise with businesses in the energy and materials value chain. Reliance Group's annual revenues are over $66 billion, according to the company. Reliance Industries Ltd. is a Fortune Global 500 company.

Although RIL's core business is petrochemical, refining and oil and gas, the company says it wants to become one of the largest real estate organizations in India as well. Its subsidiary companies cater to textile, retail business, special economic zone (SEZ Development) and telecom/broadband segments.

According to The Ground Report of India, RIL plans to make its real estate business complimentary to its retail segment that will enable it to gain ground in both arenas.

"The company's foray into the real estate will further enable it to tap a new market and enable it to support its retail business," states The Ground Report.

According to a company official, RIL will use the land Mukesh Ambani won in a Delhi Development Authority bid for around Rs.400 crore in 2007 to construct its five-story Alaknanda complex. This project is tentatively scheduled for completion by 2014.

 It will use two-fifths of the retailing space to house brands owned by Reliance Retail (a subsidiary arm of RIL). The complex will have ground level space and three basement levels, along with parking space for more than 1000 cars and 700 two-wheelers.

While it is waiting for a go-ahead from the Delhi Pollution Control Committee, RIL says it already has the green light from the Union environment and forest ministry for this project.

According to The Ground Report of India, RIL was on a buying spree several years ago when it procured shopping complexes and mall sites in and around 150 cities in India.

 Its real estate projects include Reliance Corporate Park in Navi Mumbai that serves also as a convention center and a world-class hospital in Mumbai.

Super Luxe Brazilian Resort to Open

Amanoca, Costa Verde, Brazil

The newest luxury resort development poised to take advantage of the burgeoning Brazilian tourism market is Ámanoca, a 5-star villa and hotel development south of Rio de Janeiro in the Costa Verde region. Set to open in early 2014, local developers Derek & Desmond Pinto have partnered with Aman Resorts to bring this project to left.

The Pintos of ARL Ltd., whose wholly owned subsidiary, Patience Empreendimentos Ltd., is behind the project, were raised in Brazil and have a long history of development activity in projects of this nature in the Caribbean.

With a 23-suite hotel and just 19 villas for sale, the resort's location boasts outstanding panoramic views from its elevated position of 25 to 90 meters above sea level. This lush peninsula is a little more than a 60-minute drive or a 20-minute helicopter ride from the heart of Rio, and is part of a highly desired coastline.

According to the Pintos, this area is a 'place to be seen' and a perfect location for South America's first Aman Resort. Amanoca is expected to attract an international set, and those who purchase in the community will be a part of Brazil's "most exclusive, sought after development renowned for its cutting edge design and envied location," the developers added.

Bordering its own nature reserve, the Ámanoca fully-furnished beach and ocean front villas all have ocean views and start from $6.5 million. The homes are being designed by Jean-Michel Gathy of award winning Denniston International Architects and Planners Ltd.

With a basic design of four bedrooms, extensive living areas both inside and out as well as elegant infinity pools, all villa owners will have access to the highest possible level of service throughout as well as to the resort's exclusive beach club and spa. Villa designs can be tailored to individual needs to incorporate extra bedrooms, entertainment and living areas as desired.

Nestled into the hillside, the beach club offers spectacular views of the surrounding natural environment and a restaurant at Amanoca will surely be a popular hangout for years to come.

Meanwhile the collection of resort swimming pools will be some of the region's most dramatic, overlooking the resort's 300-meter white sandy beach and Atlantic Ocean

South Korean Real Estate Investors Make Purchases Abroad

Seoul, South KoreaThe good old days of buying real estate abroad in bulk are gone for most South Korean investors but they still continue to see growth opportunities in the U.S., according to the latest statistics from the country's Ministry of Strategy and Finance.

In the second quarter, South Koreans bought $53.7 million worth of real estate compared to $50 million in the first quarter. But the general pace of those acquisitions has slowed since the 2008 global financial crisis began, the government notes.

For example, in 2007, a banner buying year for South Koreans, investors poured a total $874 million into foreign real estate markets. But a year later, in 2008, that  figure was nearly halved to $438 million. And in 2009, the total dropped $201 million.

Overseas property buying grew slightly to $251 million in 2010, but the volume was almost unchanged at $253 million in 2011.

The ministry forecasts the country's overseas property purchases will increase to a limited extent in the near future due to the global economic slowdown and a slump in the U.S. real estate market, the major destination of South Korean overseas property buyers.

Retail investors purchased $52.4 million worth of overseas real estate, or 97.6 percent of the total, during the second quarter, with corporate buyers making up the remaining 2.4 percent.

The North American region was the most popular destination for the country's overseas property buyers in the second quarter, with about 90 percent of real estate being bought there.

The U.S. was the most popular market, attracting 80.4 percent of total investments.  Canada was next popular with a 9.5 percent share. China's Hong Kong  market drew 2 percent.