How to make money in real estate of a country ? For each market there
their recipes for success . We evaluate real estate market of the U.S. state
Florida, where for the past three years, house prices fell by almost half,
and now have reached the bottom .
United States became the first country to encounter the crisis in the real estate market.
Prices began to fall on him in the second half of 2006 and the middle
this year in some states dropped to 50% from their peak
indicators (see table). Falling prices for commercial real estate in the middle
the country was 30%. Florida (in Spanish - "blooming").
The staff is located on the same peninsula, south-eastern United States, between the Atlantic
Ocean and Gulf of Mexico. The climate is subtropical and humid. Main
State revenue streams - tourism (both domestic and international). Main
beach holiday resorts in Miami, Cape Coral, Fort Lauderdale, Key West, Tampa.
Reached the bottom of the Invest in a falling market, as is known,
risky. So within three years of steady decline in market prices
U.S. real estate investors are waiting for their floor. Numerous projections soon
achieve this the bottom for a long time remained the only advertising moves Realtors
Investors also expect specific numbers of analytical agencies. AND
in June 2009, these figures appeared. In the second quarter was recorded
first with the 2006 rise in prices: at 1, 6% on average in the U.S. raise the price
detached houses. For the first time since 2004, the number of transactions
on secondary housing markets and residential buildings, but since the crisis began - has increased
The most authoritative U.S. House Price Index S \u0026 P / Case-Shiller (on
0, 5% per month). Indicators of lower prices for U.S. real estate, 2006-2009
Average cost of years of City facility in May 2006, USD Average
cost of the project in May 2009, USD Reduced prices for 3 years,% Miami
(Florida) 278 680 144 590 49 Tampa (Fla.) 237 920 140 350 41 Los Angeles
(CA) 272 120 159 180 42 Washington (DC) 251 070
169 490 32 Chicago (Illinois) 166 610 123 680 26 New York (NY)
215 570 170 510 21 Source: S \u0026 P / Case-Shiller According
General Director of research company Radar Logic Michael Feder,
"Although the property is sold at great discount prices, the return of the market
to the traditional seasonal fluctuations in prices will soon lead to their growth. And the attitude
investors to the market in recent years has changed dramatically: the fear turned into
optimism. " Where to invest? The interest of Russian investors
to the U.S. real estate was stable even during the crisis
overseas markets. According to the portal В«Prian.ru - Property
abroad ", in the last year the United States were stable
the five countries most attractive to domestic buyers.
The main reason for Russians' interest in American real estate - rather
order price, not their decline. First the Russians were interested in spa
housing. And the most attractive in this respect the region United States - Florida.
Florida real estate market - one of the most affected by the
crisis. From May 2006 to May 2009, the average cost of real estate
in the main resort of the state - Miami fell by 49%. The main reason for this
was glut in the market. Another reason was one of the highest
in the country, the amount of "bad" loans. The failure of local
borrowers has led to the fact that Florida has got one of the three states where most
high percentage of homes disposed of mortgage debt. Notably,
that alienated housing is sold at a discount in excess of 60%. Banks do not
have the capacity to manage such a large number of real estate and try to
as quickly as possible get rid of it. "Our compatriots are often
see that in Florida for a song sold the house, and the "rush" on such
proposal. But in order to buy real estate distressovuyu (for example, alienated
for the debts of the house), you must either be an expert on this issue or contact
to the professionals. For such purchases to a lot of information ", - says Director
of overseas property investment company IntermarkSavills Igor
Indriksons. Real estate prices in Florida St. Petersburg
One-storey house in a suburb of 110 square meters. m - $ 60 thousand-bedroom Orlando
apartment in new residential complex - $ 130 thousand in Palm Coast house 110 square meters.
m (secondary market) - from $ 50 thousand new apartment of 50 square meters. m - from $ 90 thousand
Miami Beach apartment in new building on the first line of the sea (50 square meters.
m) - from $ 200 thousand Sources: Prian.ru, Realtor.com Featured
Florida cuisine recipes Investment Options to earn a real estate
Florida's two, buy and sell (when prices would rise), or lease.
At the same time as a buyer or tenant should consider local,
American client. Real estate in the region will inevitably be more expensive.
Florida on the market while retaining tremendous reserve of unsold objects
but there is virtually nothing being built. After the market to get rid
of the surplus will be felt the housing shortage, as the state's population increases.
Of course, there is no guarantee prices to return to peak performance, but
today bought real estate for five or six years will grow by 25-30%, according to
Natalia Dudko, president of Your Choice Property, Inc. Invest
funds can be in the apartment, and in individual homes, buying a property for
secondary market or ready to buildings. By the way, an investor who invested money
under construction in the project, two or three years will be one of very few
the owners primary residence. Large investors may be interested in.
proposals for new residential complexes. For example, in Orlando can be discounted
60-75% of the purchase from the developer unit apartment building. Apartments in
this building sold for $ 130-140 thousand each, but the "wholesale" investors may
buy them for $ 50 thousand Accordingly, a complex of 200 flats will cost
$ 10 million in rental market in Florida also has a great future. On
the present stage of ordinary Americans can not afford to buy a house
because of the unavailability of credit, so had to take shelter. Industrial Workers
areas prefer to rent an apartment in a large city where there is a corresponding
work. So in cities like Orlando or Tampa, it is better to invest
in the purchase of apartments in residential complexes where the rent is not too
high. Office workers or technicians prefer to live
in separate houses on the coast. They live in cities where industry
not, for example, in Palm Coast or Cape Coral. How to buy
Buying a property in the U.S. in real estate agency - a simple process
and safe. The entire procedure takes approximately 30-45 days and does not require
the buyer in an American bank accounts, countless endorsements and documents
about the origin of money. Once an object is selected, the realtor prepares
"Proposal for the price" - the original agreement between the buyer and seller
which not only marked price, but also regulates the responsibilities of all
parties. The next step - a contract of sale (contract).
Since then, a mandatory party transactions - the so-called title
Company (Title Company), a representative of the authorities. It was she who carries out
legal control of the transaction and certifies all the documents. When signing a contract
buyer makes a deposit of 1-5% of the value of the object, which stores
title company. Compulsory property insurance - too
concern of this company. And if an investor wants to protect themselves from possible
Legal issues when buying a property, it provides the appropriate
check transactions. To the right of ownership passed to the buyer, to
by the title company must reach all the money. Then it takes
to the seller and the buyer gives "BITsВ» (deed) - certificate of ownership.
Payment of the principal amount of the transaction in the U.S. is usually carried out by bank
translation. In Florida, you must perform one more necessary condition -
register "BITs" in the district court - is also doing the title company.
"Risks in buying property in Florida and the United States as a whole,
virtually eliminated. For example, information about any debts that burdened
purchased your property, you will be granted the title company.
Bad faith on the part of agencies are also excluded: in the U.S. real estate agent is not
can again obtain a license, if once it has lost. Therefore, our reputation
Agents treasure "- assures Natalia Dudko. However, you should know
that tenure does not give any privileges to foreign citizens
to stay in U.S.. The presence of homeownership in the country will
is a plus in an interview for a visa.
Additional costs when buying a closing price
(Closing Costs): taxes, insurance - 1-2% of the transaction cost of services
title company - about $ 500Nalog on the transfer of ownership - 0 1.2%
the transaction amount (usually the seller pays) Services Real Estate - 6% (almost
always included in the price of the object) Insurance against natural disasters (optional)
- From 1 to 5% per annum of the market value of the physical condition of test
property (optional) - $ 250-500