Help the Homeless. Buy a 2nd Home in Venezuela
A new proposal to change the constitution in Venezuela would make major changes to the rights of property owners in that country. It would authorize homeless persons to occupy properties designated as 2nd homes. This would include apartments, beach houses, and homes in club communities. It would limit a family to one home per 3 members.
The law would prohibit the use of mini-skirts, string bikinis and stretch pants. Who would want to go to the beach anyway? It would also outlaw Mickey Mouse. These changes are nominally called “socialist reform”. I thought socialism was supposed to improve the lives of the people. With the limits on property rights, entertainment, access to internet and other sources of information, it seems the lot of the people would be reduced to that of domestic animals.
President Chavez has done everything he can to destroy a country that was once a bright spot in Latin America and a cultural example to the world. How far will the Venezuelans allow him to go?
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Monday, March 30, 2009
Monday, March 23, 2009
Ecuador from Ecuador
Ecuador from Ecuador
The economist, the 6:00 news and other sources of information would lead one to believe that the Ecuadorian economy is a basket case. I just came from there. Most of the economy that I witnessed is unofficial. The unofficial economy seems to have little relationship to the official economy. In Quito and Guayaquil I was told that the crime rate is high. I was warned about walking around after dark. (I did it anyway). I did see some people that I did not want to have a conversation with. I did not feel fear. I also did not see homeless people.
I did not see dirty people. The streets were reasonably clean in every city I visited. They were very clean in Cuenca and that city seemed relatively crime free. One can by a livable 90 M2 home (1000 sq ft. mol) for $50,000 in a a good neighborhood. One can buy what would cost $1,250,000 in Charlotte in a gated community for $300,000. Food is cheap, booze is cheap, clothes are cheap. I can see Ecuador as an ideal retirement destination for people who are not meeting their expectations in their retirement accounts.
On top of everything else the people are extremely civilized and friendly and family oriented. Many of them do not like their president. Someone must have voted for him.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
The economist, the 6:00 news and other sources of information would lead one to believe that the Ecuadorian economy is a basket case. I just came from there. Most of the economy that I witnessed is unofficial. The unofficial economy seems to have little relationship to the official economy. In Quito and Guayaquil I was told that the crime rate is high. I was warned about walking around after dark. (I did it anyway). I did see some people that I did not want to have a conversation with. I did not feel fear. I also did not see homeless people.
I did not see dirty people. The streets were reasonably clean in every city I visited. They were very clean in Cuenca and that city seemed relatively crime free. One can by a livable 90 M2 home (1000 sq ft. mol) for $50,000 in a a good neighborhood. One can buy what would cost $1,250,000 in Charlotte in a gated community for $300,000. Food is cheap, booze is cheap, clothes are cheap. I can see Ecuador as an ideal retirement destination for people who are not meeting their expectations in their retirement accounts.
On top of everything else the people are extremely civilized and friendly and family oriented. Many of them do not like their president. Someone must have voted for him.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Wednesday, March 4, 2009
The Pain in Spain is Mostly in the Gain
The Pain in Spain is Mostly in the Gain
In a recent article in OPP magazine, I learned that there is a snake hidden in the Spanish succession laws. Most countries charge estate taxes to the estate. Spain (according to the article) charges the inheritor. This means that if you (as a foreigner) inherit a property in Spain you could wind up with double taxation. The article goes on to suggest strategies for avoiding this eventuality. That is way out of the scope of this blog.
The ultimate insult could of course be that the way property trends are going in Spain there may not be any gain anyway. It is always good to get competent advisors who are knowledgeable about the taxes in all of the countries involved in any transaction. Estate planning takes on whole new dimensions when international ownership is involved. Finding a competent advisor could be quite difficult. Not finding one could be even more difficult and costly.
The Spanish government is accepting many unsold properties into a government sponsored low-income housing pool. Not to be judgmental; but these people may not make the best neighbors. See what the sales rates are for a project in which you buy. Make sure the properties will hold their value.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
In a recent article in OPP magazine, I learned that there is a snake hidden in the Spanish succession laws. Most countries charge estate taxes to the estate. Spain (according to the article) charges the inheritor. This means that if you (as a foreigner) inherit a property in Spain you could wind up with double taxation. The article goes on to suggest strategies for avoiding this eventuality. That is way out of the scope of this blog.
The ultimate insult could of course be that the way property trends are going in Spain there may not be any gain anyway. It is always good to get competent advisors who are knowledgeable about the taxes in all of the countries involved in any transaction. Estate planning takes on whole new dimensions when international ownership is involved. Finding a competent advisor could be quite difficult. Not finding one could be even more difficult and costly.
The Spanish government is accepting many unsold properties into a government sponsored low-income housing pool. Not to be judgmental; but these people may not make the best neighbors. See what the sales rates are for a project in which you buy. Make sure the properties will hold their value.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
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