Archive for January, 2010
Indian Real Estate
We are at a defining point in the history of Indian real estate. Rarely has a business sector seen so much churn conjecture simultaneous pessimism optimism and prophetic predictions in the space of just a few months.
To say the very least these are interesting times. There has been a slowdown in Indian real estate because an amalgam of reasons overheating of prices in certain regions reduced liquidity among developers because of the credit crunch and a watchandwait stance among property buyers as they anticipate a blanket correction in the sector. This cannot be attributed solely to the credit crunch and the US recession property and interest rates were inflated to begin with. Nevertheless we are still given to focusing more on reasons beyond our borders than those within them.
There is a currently fashionable saying making its rounds when the US sneezes the whole world catches cold. In the case of India however I beg differ.
India and for that matter China represent an economic scenario that has evolved separately and on very different parameters from the economies in most developed countries.
It is an emerging economy with an emerging and maturing real estate market. The fall in demand will prevail for approximately ten to twelve months but it will not be of a magnitude comparable to that of other countries. India continues to be very attractive but foreign investors are now justifiably awaiting greater transparency and stability.
Still prices are doubtlessly stagnating and there may be a more generalized correction over the next one year. However many locations and properties will continue to be in great demand. The retail and commercial space sectors have seen a major sea change on the demand side completely redefining what is expected from the coming supply. No longer can we adhere to traditional standards of format efficiency and location everything is changing ladies and gentlemen and we must change with the times.
Our thinking must change because the sector is changing. I cannot emphasise this enough. We are on the threshold of an awakening into the Era of Transparency. From this point in Indian real estate history onward http://www.omaxe.com we will forever need to look beyond shortterm profitability and concentrate on making our projects institutional quality assets through more tieups with international expertise.
In commercial projects the onus is now clearly on large floor plates workplace ambience and conformity to international sustainability standards. In fact our thinking must now permanently reorient to global best practices and ecofriendly projects with LEEDS certification.
In the retail sector the sad truth is that there is an oversupply situation brewing mainly because the current supply is opportunistic and not based on actual demand. Developers are building malls in catchments where land is available without studying existing and potential demand.
In residential real estate most large development houses have now woken up to the fact that affordable housing projects have the fastest absorption rates and are focusing on this hitherto neglected sector. It makes both social and business sense. Business sense in terms of the volumes the market is offering that developers can cater to and social sense because it provides buyers of economical housing more options to choose from. The demand in terms of units is phenomenal and developers getting into this segment can build for years to come.
Yes interesting times. We are in the eye of the storm and therefore do not adequately sense the full extent of the turbulence all around us. However the current market dynamics are already serving the required purpose bringing about a Indian real estate Renaissance. Quality retail and commercial spaces in tune with the international blueprint are arriving and developers are now launching housing projects for the common man as never before.May the future begin.
About the writer: Charles King writes on Indian real estate and Commercial Properties in India.
Income Suites And Primary Residences
In today’s real estate market people are spending a good deal of time trying to find ways to make their primary residence pay off a little bit better. One way that this can be done is by installing or renovating an income suite. Income suites are fantastic for helping out with monthly bills mortgage payments and are better for the safety of the home. In a general sense a good income suite can almost or entirely pay your monthly mortgage payment leaving that money available to you for your other bills and costs. Finding the right tenants for such a suite is imperative as this is your primary residence and your respite from the world so the tenants have to be perfect. If you are the kind of person that goes on long trips this can also bring real peace of mind as there is someone taking care of the home and who is there on a regular basis.
If your home does not already have a suite then they are relatively simple to install. The main thing that you will have to worry about is putting in the kitchen. Now the kitchen for a suite does not need to be huge but it should have all the trappings of a regular kitchen that is; stove sink storage space fridge etc. Organizing the space so that kitchen sinks and bathroom sinks and the shower or tub can plug into existing plumbing can save you allot of money in startup costs. Plumbing can end up being a major cost so try to plan out the suite accordingly. Also try to think about what the average renter needs and try to supply that. The more amenities you supply the more you will be able to get for the suite on a monthly basis.
This is also a great way to add value to your home as home buyers love to see properties with secondary suites. This is especially true of real estate investors. Any kind of property that offers a dual income opportunity will be a highly prized property. Investors spend months looking for the right dual income properties as they really are ideal rental properties. Careful planning is essential in an kind of rental situation so plan this out properly and it should be quite profitable.
About the writer: Carey Frankel is a real estate agent and associate broker serving the Jacksonville Florida real estate market. For elite service and accurate information on Jacksonville Homes contact Carey or visit online at www.frankelrealtygroup.com
Importance Of Real Estate Property Management
Good property management would not cost you money in turn it would fetch you money. If a real estate investor has purchased an investment property a single family home duplex a 4plex or even larger multi family unit the actual goal is simply cash flow. Depending upon the size of down payment and condition of the real estate property cash flow may or may not become a reality.
These days real estate investors are interested investing in property with high leverage normally properties that have a great deal of deferred maintenance. The new owner has to face the challenge of a lifetime and it would look like a lifetime before he would ever see any light at the end of the tunnel.
Good Property Management
A good property management company could be really useful to the investor who doesn’t have time to dedicate to his or her real estate investment. A strong manager could be an actual gift to the investor faced with a huge number of problems including but not limited to upholding repairs and a large percentage of vacancies.
Property Management is not only about providing an apartment for an individual or a family investor. The property manager basically manages all sorts of services for the owner. Shelter is the understandable but along with that you have to comprise plumbing heat flooring tile showers and tubs roofs ceilings walls panes kitchen appliances water heaters carports garage door openers fans cabinets landscaping walkways stucco siding fireplaces brick and many other noticeable things. Aside from all of the tools and materials that are used for a housing unit your property manager should be able to manage people. Those people are your customers and they are the individuals which would keep your building afloat. The good managers know who needs to be rented your unit and who shouldn’t. The manager would do credit checks confirm income and previous residence.
When the successful real estate investor is about ready to buy an apartment building they would usually bring their property manager along for one of the good inspections before signing any deal. The purpose certainly is to gain some imminent from another perspective. Often the real estate investor would fail to notice certain aspects or characteristics which the property manager might quickly recognize. The property manager might see signs of sober maintenance problems which an owner might fail to notice. The experienced manager could point out some hazards or possible problems which might go unnoticed. The job of the manager is not to dishearten a real estate investor from making the purchase but to assist the purchaser see the whole package.
About the writer:
About the writer: Sharon Samraj is an expert author who is presently working on the site Real estate investor websites real estate investment. He has written many articles in various topics. For more information about real estate investing real estate web profits investment in real estate. Visit our site Real estate investment Jeff Adams.Contact him at sharonsamrajgmail.com