Wednesday, February 12, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems.
The Chinese Coronavirus has been all over the news lately, causing anxiety and worry on both sides of the globe. China used to be a big player in New York real estate investing, but Chinese buyers have all but disappeared. The virus, which has led to over a thousand deaths to date with more reported each day, is just another blow to the market.
A report from Cushman & Wakefield noted the first beginnings of a “frenzy of disposal activity” among Chinese commercial real estate investors in the United States. In 2018, there were 37 property acquisitions by Chinese buyers worth $2.3 billion, but $3.1 billion of commercial real estate was sold off. The report said that the treatment of Chinese conglomerate Healthcare Networks of America and tough trade talk made Chinese investors feel unwelcome.
Chinese investors are also showing less appetite for residential real estate in the United States. ...
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Tuesday, December 10, 2019 / by Vanessa Saunders
Do you have dreams of moving abroad? Maybe you plan to retire somewhere tropical where island breezes and warm sand are a part of every day living? Or perhaps finding a little bit of paradise overlooking Tuscan vineyards or Spanish olive groves for you to visit a few months out of the year? If you've ever thought of buying a little place of your own in another country, first you need to do some homework. Below are five things to consider when you plan your great escape.
1. How's the economy?
Moving overseas can be a good idea in an area with a low cost of living. But first, you should look into what it costs to live in paradise. Analysis by experts is available from the World Population Review's website . Plan ahead and budget accordingly.
2. Foreign Property Ownership Laws
Not every country allows just anybody to own real property like the United States. According to financial consulting firm SmartAsset, "Even if the country you’re interested in allows foreigners ...
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Tuesday, December 3, 2019 / by Vanessa Saunders
There are six inches of freshly fallen snow on the walk to my front door. What better reason to write about the nine Bahamian islands recently listed for sale and prime candidates for winter dreaming!
Located 70 miles off the coast of Florida, the set of nine islands was last owned by the late billionaire coal entrepreneur Chris Cline. Cline died in a plane accident during a flight back from the islands in July.
Cline’s estate is now selling off the island estate, which is comprised of 277 acres as part of the larger Bahamian Abaco Islands. Prior to Cline, the island paradise was owned by Robert H. Abplanalp, a close associate of President Richard Nixon.
The property has a mid-century modern style main building with 4 bedrooms and 5 bathrooms, a salt-water swimming pool, deep-water dock, caretakers’ quarters and a seaplane ramp. Other amenities include a gym, tennis courts, basketball court, professional kitchen all powered by it's own electrical generator ...
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Tuesday, October 22, 2019 / by Vanessa Saunders
Like finding money in an old wallet, hearing good news, however minor, is always a pleasure. This week, the Hudson Gateway Association of Realtors announced that instead of the predicted softening of housing sales in the third quarter, Hudson Valley home sales are up overall.
The only county flagging the field was Westchester. According to HGAR President Ron Garafalo, the main reason for Westchester's numbers was a decline in co-op sales. Said Garafalo, "A closer look at the Westchester County data showed that single-family home sales in the third quarter rose 1.0% and condominium sales ratcheted up by 3.2%. The drag on overall sales came from the cooperative sector, which saw a 16.5% decline in sales."
He said that sales activity and prices were up in most of the region, while the lack of available for-sale inventory remained an issue. Garafalo pointed to continued low interest rates as perhaps the key driver to the consistent strong buyer demand the region has seen this y ...
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Monday, October 21, 2019 / by Vanessa Saunders
When hiring a REALTOR®, be sure he or she is skilled in the type of property transaction you intend to make. The truth is, different real estate dealings come with different regulations, and if your agent isn't an expert in the type of transaction you're conducting, it could come back to bite you not only during the transaction buy down the road as well.
Here's a real-world scenario as related to us by Pearl Insurance, our risk management specialists, in which an agent well-versed in residential sales decided to venture into commercial sales and ended up being sued.
THE SITUATION
A real estate agent with a successful background in residential sales received a request from a light manufacturer to help locate a new business space to rent. The agent had been selling residential homes for over 30 years, and he welcomed the opportunity to finally put his commercial real estate knowledge to use.
THE PROBLEM
The agent was considered an expert in residential tr ...
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