The Ripple Heard ‘Round the World
I think it is commendable (in most cases) when people see challenges as opportunities. Unfortunately Mr. Bush always sees the economic challenges facing the USA economy as another opportunity to enrich his friends and supporters. His stupid (sorry, that’s the best way to describe it) economic recovery plan has so shocked financial interests around the world as to cause all of the financial markets to shrink in horror.
I hope this does not make me look as horrible as George Bush; but I also see this challenge as an opportunity to enrich my friends. I realize that I am basicly powerless to control macro financial events. I cannot change the wind. I can change the set of my sails. Ever since George Bush came to office we have had one stock market crisis after another. The reduction in yield and increase in price of real estate is a direct result of the fear of loss generated by uncertainty in the stock market. The current stagnation in the housing market in the USA is a by-product of stock market events. Commercial real estate prices seem to be holding up pretty well.
I recommend (in most cases) that any one who owns commercial or international real estate right now should hold it and buy more. The price can only go up as the stock market gets scarier and the world population grows in number and affluence.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Wednesday, January 23, 2008
Monday, January 21, 2008
Insurance on Foreign Properties
Insurance on Foreign Properties
In the USA and Western Europe, insurance is pretty much taken for granted. In much of the world property owners are not so fortunate. Even where property insurance is available it often excludes things like flood, wind or earthquake damage. Title insurance is also unavailable or very expensive in some places.
In the USA flood insurance is underwritten by the Federal Government. There are some conditions on a property owner’s eligibility to purchase this insurance and damage from wind may be excluded. Wind is usually covered under the standard fire or homeowner’s insurance. Earthquake insurance has to be purchased separately.
When one goes to a country like Nicaragua or The Virgin Islands, damage is often still evident from events that happened many years previously. This is because there is no insurance to cover the cost of repair and the owner may not have the wherewithal to make these repairs. Always check the availability and cost of insurance and the protection that the particular policy affords before contracting to buy any property.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
In the USA and Western Europe, insurance is pretty much taken for granted. In much of the world property owners are not so fortunate. Even where property insurance is available it often excludes things like flood, wind or earthquake damage. Title insurance is also unavailable or very expensive in some places.
In the USA flood insurance is underwritten by the Federal Government. There are some conditions on a property owner’s eligibility to purchase this insurance and damage from wind may be excluded. Wind is usually covered under the standard fire or homeowner’s insurance. Earthquake insurance has to be purchased separately.
When one goes to a country like Nicaragua or The Virgin Islands, damage is often still evident from events that happened many years previously. This is because there is no insurance to cover the cost of repair and the owner may not have the wherewithal to make these repairs. Always check the availability and cost of insurance and the protection that the particular policy affords before contracting to buy any property.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Sunday, January 13, 2008
Economic Indicators
Economic Indicators
A presentation on the USA economy by Wachovia Corportation In Jacksonville Fl, recently predicted that we would avoid a recession. They said that if the housing market were not included growth this year would be 2.5 %. The article I read went on to state that there is a little more than 50% chance that the USA economy would avoid recession. That means there is almost a 50% chance that we will have a recession.
George Bush submitted a budget to congress a couple of years ago that did not include spending for Iraq. Consumer prices have not risen much if you don’t count energy or food. How much of those are you willing to do without? The only thing that an economic survey that leaves out crucial sectors is good for is a laugh. I could say that I have always been completely faithful to my wife if you don’t count my three mistresses and my boyfriend.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
A presentation on the USA economy by Wachovia Corportation In Jacksonville Fl, recently predicted that we would avoid a recession. They said that if the housing market were not included growth this year would be 2.5 %. The article I read went on to state that there is a little more than 50% chance that the USA economy would avoid recession. That means there is almost a 50% chance that we will have a recession.
George Bush submitted a budget to congress a couple of years ago that did not include spending for Iraq. Consumer prices have not risen much if you don’t count energy or food. How much of those are you willing to do without? The only thing that an economic survey that leaves out crucial sectors is good for is a laugh. I could say that I have always been completely faithful to my wife if you don’t count my three mistresses and my boyfriend.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Thursday, January 10, 2008
FITA A Great Place for Information
FITA A Great Place for Information
Looking for tax information on another country? How about a job in international business? Would you be interested in detailed information on how business is done in some other country? What you need is just a mouse-click away at http://fita.org/. You can subscribe to their email newsletter and get any new information sent to you every week or so. You can go to their web page and find almost any thing that sparks your interest.
The most recent newsletter was on Japan. It had links to the most up to date information on that country, complete with an assessment of the economy and a concise historical background on the countries condition. The newsletter also has a lot of other really great links to provide a starting place for any research you may be doing.
I received an email from someone who read this blog. It was really gratifying to know that someone actually does. They have what sounds like a really great property for sale in Kissimee Fl., that may have international appeal. I will be happy to share the information with anyone who is interested.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Looking for tax information on another country? How about a job in international business? Would you be interested in detailed information on how business is done in some other country? What you need is just a mouse-click away at http://fita.org/. You can subscribe to their email newsletter and get any new information sent to you every week or so. You can go to their web page and find almost any thing that sparks your interest.
The most recent newsletter was on Japan. It had links to the most up to date information on that country, complete with an assessment of the economy and a concise historical background on the countries condition. The newsletter also has a lot of other really great links to provide a starting place for any research you may be doing.
I received an email from someone who read this blog. It was really gratifying to know that someone actually does. They have what sounds like a really great property for sale in Kissimee Fl., that may have international appeal. I will be happy to share the information with anyone who is interested.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Tuesday, January 8, 2008
Good News from Panama
Good News From Panama
I have to thank my good friend Manfred Chemek from Manhelm International http://www.manhelm.com for this information.
One of the big benefits for people buying in Panama has been the 20 year tax holiday for people buying new homes. There was also a 30 year property tax holiday for people buying properties in the “Re-Constituted Areas”. These are the lands that the USA government had been leasing during their operation of the Panama Canal. The 30 year holiday expired some years ago. The 20 year holiday did not expire until August of 2007.
Manfred has informed me that this 20 year tax holiday was renewed to include homes built before December 31, 2009. Panama has many other tax benefits and has been one of the least corrupt and most transparent governments in the world for some time. Panama City is a gleaming modern city, surrounded by beautiful natural areas. Panama has to preserve it’s forests because they provide the watershed for the canal. Most of the country provides this watershed and is environmentally protected.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
I have to thank my good friend Manfred Chemek from Manhelm International http://www.manhelm.com for this information.
One of the big benefits for people buying in Panama has been the 20 year tax holiday for people buying new homes. There was also a 30 year property tax holiday for people buying properties in the “Re-Constituted Areas”. These are the lands that the USA government had been leasing during their operation of the Panama Canal. The 30 year holiday expired some years ago. The 20 year holiday did not expire until August of 2007.
Manfred has informed me that this 20 year tax holiday was renewed to include homes built before December 31, 2009. Panama has many other tax benefits and has been one of the least corrupt and most transparent governments in the world for some time. Panama City is a gleaming modern city, surrounded by beautiful natural areas. Panama has to preserve it’s forests because they provide the watershed for the canal. Most of the country provides this watershed and is environmentally protected.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Sunday, January 6, 2008
The Time to Buy
The Time to Buy
An old real estate saying is: “The time to buy is when the blood is in the streets.” I pulled up some real estate listings in Baghdad, Iraq just to see what you can get for your money when “the blood is in the streets”.
I found a building near the Hanging Bridge with 17 flats and 5 shops that sells for $550,000 US. I don’t have a point of reference to judge the price; but it seems cheap. It is also a “for sale by owner”. This tells me the price probably has significant room for negotiation. The second rule of international business is “Capital flows to the highest yield with the lowest risk”. What kind of yield would someone expect in a place like Baghdad?
Baghdad is one of the worlds major cities. How far fetched is it to assume that one day real estate prices will match those in other major cities? What will one have to endure in the meantime? Is property there something you can just buy and turn over to local management and just not worry about it for a few years? What will be the market landmark that indicates a turnaround in the situation in that country? What other places may offer similar opportunities?
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
An old real estate saying is: “The time to buy is when the blood is in the streets.” I pulled up some real estate listings in Baghdad, Iraq just to see what you can get for your money when “the blood is in the streets”.
I found a building near the Hanging Bridge with 17 flats and 5 shops that sells for $550,000 US. I don’t have a point of reference to judge the price; but it seems cheap. It is also a “for sale by owner”. This tells me the price probably has significant room for negotiation. The second rule of international business is “Capital flows to the highest yield with the lowest risk”. What kind of yield would someone expect in a place like Baghdad?
Baghdad is one of the worlds major cities. How far fetched is it to assume that one day real estate prices will match those in other major cities? What will one have to endure in the meantime? Is property there something you can just buy and turn over to local management and just not worry about it for a few years? What will be the market landmark that indicates a turnaround in the situation in that country? What other places may offer similar opportunities?
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Thursday, January 3, 2008
Happy New Year
Happy New Year
Winter has finally come to North Carolina. I am not worried about global warming today. Last night the temperature dropped to 19 degrees fahrenheit. Tonight it is supposed to go to 17. I am thinking about warmer climates. The rollover of the year pins me to my desk doing paperwork for property management. My heart has already moved south.
I imagine a lot of people are feeling the same way right now. There are a lot of sunny beaches that stay that way year round in Central America and the Carribean. In South America it is summertime. The first time I went to Chile, it was September. I was really excited to see the spring flowers blooming. I walked around Santiago in my shirt sleeves. We visited a ski resort in the mountains and almost go snowed in.
Are you thinking about warmer climates? I can help.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
Winter has finally come to North Carolina. I am not worried about global warming today. Last night the temperature dropped to 19 degrees fahrenheit. Tonight it is supposed to go to 17. I am thinking about warmer climates. The rollover of the year pins me to my desk doing paperwork for property management. My heart has already moved south.
I imagine a lot of people are feeling the same way right now. There are a lot of sunny beaches that stay that way year round in Central America and the Carribean. In South America it is summertime. The first time I went to Chile, it was September. I was really excited to see the spring flowers blooming. I walked around Santiago in my shirt sleeves. We visited a ski resort in the mountains and almost go snowed in.
Are you thinking about warmer climates? I can help.
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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