For many people around the world dreams have turned into nightmares. For others the nightmares can make the dreams come true. Buying a property at foreclosure or short sale in the USA is tough. In many places the complications make it nearly impossible. These are not the only properties that can be bought at a discount.
Many developers are holding land and can no longer get the financing to build the property out. Many other developers have properties that are built out and just sitting in inventory. These are opportunities for people with cash or access to financing. The dollar for some strange reason is in an advantageous position in reference to many currencies. This is a situation that cannot last. The perception is now, that no matter how bad things are in the USA at least the government is stable.
As other countries stabilize more, their currencies will rise. The people who buy now with valuable dollars, will have stronger currencies in the future to convert back to dollars. This means the profit on their investments will be multiplied.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Thursday, July 1, 2010
Wednesday, June 30, 2010
Industrial Real Estate & the Global Supply Chain
The resort real estate industry has adapted to and taken advantage of globalization on a major scale. The industrial industry has adapted by opening offices around the world and trying to teach other countries how to “do real estate”. While we have to adapt to the laws of other places, we don’t always adapt well to the customs.
One problem is that the global supply chain demands standardization of procedures in warehouses and factories. Freight moves in standardized containers. Products come together from wherever the best source is for each module. The handling, shipping and stocking procedures have to conform to the standard systems. The buildings have to conform to the activity involved. Does this mean we can use a standard building?
In some cases it does. In other instances the building is the variable that makes the whole thing fit together. Plumbers would call it an adapter. The customs and processes come together in the building. In most cases, the loading doors need to fit the trucks and trains that deliver and remove the goods. The break rooms and offices need to fit the customs of the people who work there. Everything in the middle needs to bring the systems together.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
One problem is that the global supply chain demands standardization of procedures in warehouses and factories. Freight moves in standardized containers. Products come together from wherever the best source is for each module. The handling, shipping and stocking procedures have to conform to the standard systems. The buildings have to conform to the activity involved. Does this mean we can use a standard building?
In some cases it does. In other instances the building is the variable that makes the whole thing fit together. Plumbers would call it an adapter. The customs and processes come together in the building. In most cases, the loading doors need to fit the trucks and trains that deliver and remove the goods. The break rooms and offices need to fit the customs of the people who work there. Everything in the middle needs to bring the systems together.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Tuesday, June 29, 2010
Governments Respond to Hard Times by Opening Markets
It seems that lowered demand in local markets is forcing many countries to revise their attitude on foreign ownership of real estate. Several countries have regulation changes in the works to make it possible or easier for foreigners to own real estate. Australia has actually passed new legislation
The requirement of a permanent visa for real estate ownership has been eliminated. The $300,000 (Australian) minimum for students has also been removed. For developers the requirement to build within one year of acquisition on new land has been increased to two years. The 50% limit on sales of new properties to foreigners has also been lifted provided the property is marketed locally as well as internationally.
Even Mexico is considering dropping the ban on foreign ownership of coastal properties. Many people wonder why Mexico had the restrictions on coastal and border properties; but one must consider that immigrants from the USA stole 1/3 of the country.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
The requirement of a permanent visa for real estate ownership has been eliminated. The $300,000 (Australian) minimum for students has also been removed. For developers the requirement to build within one year of acquisition on new land has been increased to two years. The 50% limit on sales of new properties to foreigners has also been lifted provided the property is marketed locally as well as internationally.
Even Mexico is considering dropping the ban on foreign ownership of coastal properties. Many people wonder why Mexico had the restrictions on coastal and border properties; but one must consider that immigrants from the USA stole 1/3 of the country.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Tuesday, December 22, 2009
Finding a Message of Hope
This is a traditional time of year to talk about a message of hope. Some of us in the real estate business may have to look a little harder this year. It is there. I found a message of hope in a most unlikely place. My wife likes to go to these investment “seminars” where the speaker feeds you in order to get you to come.
The one we went to last week was especially bad. The woman used very bad English, she was long winded. The food did not come until after the speech. The message was one of gloom and doom. She talked about low yield, extremely high inflation, real estate in the toilet, stocks unpredictable, and herself as the savior. I was depressed just by having to go. It got worse as the night went on. That negative message spoiled my appetite and my attitude.
It wasn’t until yesterday morning that the good news hit me. The real estate industry is in pain right now because of too much inventory and too little money. People still like to sleep inside; so our market will not totally go away. The real estate assets, if we can just hang on, will have to increase in value some day. Hyper-inflation will help this some. Hyper-inflation will also reduce the relative value of debt. Hallelujah.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com/ His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
The one we went to last week was especially bad. The woman used very bad English, she was long winded. The food did not come until after the speech. The message was one of gloom and doom. She talked about low yield, extremely high inflation, real estate in the toilet, stocks unpredictable, and herself as the savior. I was depressed just by having to go. It got worse as the night went on. That negative message spoiled my appetite and my attitude.
It wasn’t until yesterday morning that the good news hit me. The real estate industry is in pain right now because of too much inventory and too little money. People still like to sleep inside; so our market will not totally go away. The real estate assets, if we can just hang on, will have to increase in value some day. Hyper-inflation will help this some. Hyper-inflation will also reduce the relative value of debt. Hallelujah.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com/ His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Friday, November 20, 2009
Distressed Properties
My old friend Allan Thompson used to say, “There is no such thing as a bad property, just untimely ownership.” I have been thinking lately that maybe these times have proven him wrong. Maybe not. The old adage about real estate, “Time heals all wounds” Seems to no longer apply. Maybe it does. We just don’t know yet.
In most cases, what are called “troubled assets”, really refers to troubled ownership. When foreclosure proceedings are filed they are not filed on a piece of dirt or a building. They are filed on an owner who did not make payments on that dirt. A property will always sell for what it is worth. Some properties are not worth much. Will they ever be worth what the owner paid for them? What if the owner had what they are worth now? Could that owner buy something better with that money and make more money in the long run?
The situation is similar to the stock market. Wachovia stock dropped in value until it became almost worthless. People who held it got about 1 share of Wells Fargo for every 5 shares of Wachovia. How long will it take for that stock to be worth what the Wachovia stock would have sold for even a week before the merger was declared? What will the yield be over that period of time? Sometimes it is good to look at our untimely ownerships. Sometimes we may be better off letting other people keep their untimely ownerships.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
In most cases, what are called “troubled assets”, really refers to troubled ownership. When foreclosure proceedings are filed they are not filed on a piece of dirt or a building. They are filed on an owner who did not make payments on that dirt. A property will always sell for what it is worth. Some properties are not worth much. Will they ever be worth what the owner paid for them? What if the owner had what they are worth now? Could that owner buy something better with that money and make more money in the long run?
The situation is similar to the stock market. Wachovia stock dropped in value until it became almost worthless. People who held it got about 1 share of Wells Fargo for every 5 shares of Wachovia. How long will it take for that stock to be worth what the Wachovia stock would have sold for even a week before the merger was declared? What will the yield be over that period of time? Sometimes it is good to look at our untimely ownerships. Sometimes we may be better off letting other people keep their untimely ownerships.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Thursday, November 19, 2009
Where Would You Like to Go
It seems to be slow coming this year; but the northern hemisphere will soon be in the grips of what is predicted to be a brutal winter. The hurricane season is lasting a little longer than usual this year. Some places are experiencing social unrest. It is time to start thinking about escape, even if it is temporary. Where would you rather be?
As nice as it is to escape the cold, Paris is fantastic at Christmas time. Saint Nicolas day in Brussels at the “Manikin Piss” square is unbelievable. Many of the places in Southern Europe are not too bad. Florida is at the height of “the season”. Central America and Mexico will be wonderful when hurricane season ends. Forget about the “swine flu”. Watch out for the “wine flu” (or tequila flu as the case may be).
The northerners will head south for the beaches. The southerners will head north for the ski slopes. There should be bargains aplenty this year if one has the money to enjoy them. Summer is coming in the far south. This might be a great time to visit Patagonia. Dig out that dusty old passport and put it to work.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
As nice as it is to escape the cold, Paris is fantastic at Christmas time. Saint Nicolas day in Brussels at the “Manikin Piss” square is unbelievable. Many of the places in Southern Europe are not too bad. Florida is at the height of “the season”. Central America and Mexico will be wonderful when hurricane season ends. Forget about the “swine flu”. Watch out for the “wine flu” (or tequila flu as the case may be).
The northerners will head south for the beaches. The southerners will head north for the ski slopes. There should be bargains aplenty this year if one has the money to enjoy them. Summer is coming in the far south. This might be a great time to visit Patagonia. Dig out that dusty old passport and put it to work.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Friday, November 13, 2009
Farewell to Lou Dobbs
Criticism of the system is not just ok, it is good. Criticism should be a positive thing and should offer a solution or an alternative to the problem. Lou Dobbs offers plenty of criticism; but he never offers solutions. His program was cut from the same mold as Rush Limbaugh’s. He got fired last night. It seems that CNN had a solution. Good for them.
Watching TV is not my favorite thing to do. The internet is much better and usually offers a broader range of views. CNN is an exception in that it offers a quick panorama of the current stories. One can see what is going on and then research the story in depth on the internet. The weather channel and CNN are the only stations I watch until Lou Dobbs comes on. Then the channel changes or I just leave the room. I don’t know who his replacement will be. I would suggest Kitty Pilgrim.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Watching TV is not my favorite thing to do. The internet is much better and usually offers a broader range of views. CNN is an exception in that it offers a quick panorama of the current stories. One can see what is going on and then research the story in depth on the internet. The weather channel and CNN are the only stations I watch until Lou Dobbs comes on. Then the channel changes or I just leave the room. I don’t know who his replacement will be. I would suggest Kitty Pilgrim.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Subscribe to:
Posts (Atom)
