Real Estate Trends In And Around Houston 2011 – Montgomery, Conroe And Magnolia

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The tremendous increase of activity in sales of new homes in Montgomery at the start of the year sparked off talks of another property boom to hit Texas in general and Houston and its neighboring counties in particular. However, with relative leveling, March 2011 real estate data shows a dip and experts believe this is perhaps to do with the changing price indexes. So, what does this mean for families eyeing new homes Magnolia and Conroe homes for sale?

One interesting fact that should let prospective buyers stand up and take interest is that while Houston city sales got its chunk of buyers thanks to the luxury homes sales, and Montgomery county recorded a dip of 2.2% in real estate sales as compared to March last year, the story with Lake Conroe Tx and Woodland areas has been quite the opposite. Lake Conroe for a fact, recorded an 11% increase when compared to the same month last year, thus indicating a revived interest of buyers in Conroe real estate. Most realtors attribute this renewed interest in both Conroe and Magnolia properties to two major driving factors.

Firstly, there is always the laid-back atmosphere that is always associated with both the places. While Conroe has a wide range of activities for families living in the area, Magnolia Tx homes on the other hand, provide some of the most cheapest deals with respect to acreage. From small homes to spacious 5500 sq. feet abodes, and throw in another 1-10 acres of land with that, it should tell you why Magnolia realty is enjoying so much attention.

In the same vein, the waterfront homes are perhaps the best investment as far as buyers are concerned. In order to get a better feel of the situation, lets take some statistical examples.

The 2010 figures show that all the waterfront homes were valued in the range of $178,000 to $2,475,000.

In 2002, buyers who purchased waterfront Conroe Texas homes at $15,000 to $595,000 saw sales of homes in July 2010 to range between $39,900 and $1,200,000!

This should give you an idea of the profitability factor associated to buying property in the area.

The second reason why sale ability of real estate in the area is so high is attributed to the proximity of towns like Magnolia and Conroe to Houston. With roughly 40 miles separating Conroe from Houston and a mere 25 miles in case of Magnolia, they provide families with the strategic as well financial advantage of being so close to the big city. Driving back and forth to the city for work is not a problem and you know you will be returning back to calm and serene home.

With a large amount of influx from other parts of the country to Houston, real estate Magnolia Texas and Conroe to some extent provide the perfect setting for someone looking to buy a home without the headache of an astronomical mortgage over their head. In fact, Magnolia homes for sale are the choice of ranchers and entrepreneurs who love their peace and quiet.

Visit http://www.magnoliaridgedevelopment.com/ for magnolia new homes, real estate magnolia texas, magnolia house, Lake Conroe tx, magnolia realty.

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Source by James Camroon

Bangkok Real Estate for Sale or Rent

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Undoubtedly, Bangkok’s real estate for sale offers some of the best accommodations in Thailand. In this major economic and financial center, one can find exclusive apartments in lavish high-rise edifices, with stunning, breathtaking views over Thailand’s capital. There are many real estate companies in Bangkok which can offer the best accommodations they have. However, because the city is so vast and the options are so many, it is imperative for anyone interested in buying or renting in this area to use the professional advice of a property consultant and broker. Forbest Properties is the solution. It provides its clients with a Bangkok property listing database which contains well selected real estate according to multiple criterions.

Bangkok occupies the 22nd place in the world regarding the number of people living in this amazing city. Its population doesn’t consist solely of local persons. The reasons are that a thriving, prosperous and modern city always attracts new people. Because Bangkok is constantly growing, the prices are affordable to foreigners as well. According to Thai law, foreigners can purchase housing units in more than one area of the city. So, even if you are a foreigner, Forbest Properties can still be of help through its Bangkok property listing. They can assist you in choosing valuable real estate and invest your money in more than one housing unit.

Using the Bangkok property listing and the well documented comparison which Forbest Properties provides, you can easily find out the best offers regarding the accommodation which is more appropriate for you. You can choose between apartments and condominiums. Apartments are preferred because they offer advantages to both single persons and families. Better maintenance, security and a wide variety of facilities make apartments suitable for all types of lifestyles. The level of the services is the same for condominiums, but there is a slight difference: the condominiums imply individual ownership and you will have to settle all the deals with the proprietors directly. This is the main fact which influences the properties‘ prices. Other aspects which influence the buying or renting of a Bangkok real estate are: the surface of the home, whether it is furnished or unfurnished, the facilities and the condition of the property. The décor and the style of the accommodation can vary depending on the location in the city and it is often a decisive factor when renting.

Details can easily be missed when hunting for a home in Bangkok. The multitude of offers is sometimes overwhelming, but the sincere advice of professionals, like the ones at Forbest Properties, can guide you, the buyer in a search through the Bangkok property listing. Taking into consideration that newspaper ads can be vague, incomplete and sometimes untrue and being reminded of the priorities one should have when looking for a home, Bangkok real estate for sale can prove to be much easier to handle by a regular inexperienced client. A consultant will guide and direct the person interested in real estate by helping him consider the proximity to office, schools and services, the accessibility to the local means of transport, the traffic in the area, the distance between the Bangkok real estate for sale and the place of work and, in case of rental, the improvements of the property, the contract terms, the tenant rights and of course the prices.

Of course, one can find a good Bangkok real estate for sale or for rent by himself as well. In Bangkok, advertising notes placed on buildings or in their vicinity isn’t very unusual. They can be very helpful, just like asking friends or coworkers which live in condominiums to help you find out about available accommodations. Another way of searching for an accommodation in Bangkok would be to enter a building and to ask politely around. Either way, it’s impossible not to find something for sale or for rent. However, these methods are risky, time consuming and offer no guaranteed results.

If you prefer to spare yourself the effort of searching for the needle in the haystack and if Bangkok is totally unfamiliar to you, you should turn to the very rich Bangkok property listing that Forbest Properties provides its clients with. Their aim is to help you touch your property goals. They will find that particular style or design or that particular type of housing you are searching for.

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Source by Ken Wilson

The 6 P’s of Real Estate Marketing

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One of my past clients asked me how he should handle his clients in a tough market. He gave me a little background information on what he was currently doing and I suggested to him the „6 P’s“ of Real Estate Marketing. I strongly suggest applying the 6 P’s to all real estate agents in any economy and in any market. Marketing in a way that is different from your competitors is the main factor in obtaining sales. I can’t tell you how many real estate agents came to me after they lost a sale to another salesperson that does exactly the same marketing as they do. If you keep doing the same marketing techniques over and over again you’re going to get the same results. So what are the 6 P’s of Real Estate Marketing?

1. Positive Attitude– Make sure the sellers know how enthused you are about selling their home. Enthusiasm is contagious and they will be more inclined to accept your recommendations if you exuberate a positive attitude. It is important to remember that almost every person is attracted to people who emanate confidence, optimism, and sincerity. This will play a major part in attracting new business relationships.

2. Promotion– There are various ways to promote listings and increase real estate sales. Most likely you will be marketing to people in your sphere of influence (SOI). Your sphere of influence includes, but is not limited to, current and past clients, organizations, other agents, brokers and network groups, the MLS, etc. Another effective promotional tool is using a Pre-Listing Package, which is discussed later in this article.

3. Perfection– As a real estate professional, you should strive for perfection in all aspects of the home buying and selling process. We all know that nothing is „perfect“, but we should do our very best to make sure that the client receives quality and unparalleled service. This is a goal you should always strive for. Holding yourself to high standards and possessing integrity can make a big difference.

4. Preparation– Provide all your sellers with information on how to prepare their home, common seller mistakes, and the home selling process. By doing so you are being proactive while saving time on the many questions your client will ask in regard to the processes. This aspect of real estate marketing could also fall under communication and feedback.

5. Pricing– Explain to the client where your listing price sits in comparison to other similar properties. You want to give all sellers a comparative market analysis so that they will have the facts as to why you came up with the figure you have. If you are not providing clients with one you need to do so. The Comparative Market Analysis (CMA) compares a property to other similar homes in the neighborhood that are currently on the market or sold in the last six months. This will allow you to determine the best listing price for their home.

6. Pre-Listing Package – A Pre-Listing Package is the most powerful impression you can make on a seller. This is a package of information letting the client know about you and your company. It also explains to them how you are best qualified for all their real estate needs. The Pre-Listing Package is a great tool used to get clients excited about you and your company before the first appointment. You will not only differentiate yourself, but you will obtain more listings, income and referrals. By personalizing your package to meet your seller’s needs, you are exuding professionalism and showing them that you truly care.

Approach all of your real estate endeavors with the 6 P’s of Real Estate Marketing and watch your business grow exponentially. Good luck and much success!!

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Source by Kevin Wright

Residential Property in Chennai

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Chennai, the capital of Tamil Nadu, is the fifth most populous city in India. It has a broad industrial base in the automobile, technology, hardware manufacturing, financial services and healthcare industries. Chennai is the second largest exporter of software, IT (information technology) and ITes (information-technology-enabled services) in India. It accounts for 60% of the country’s automotive exports along with being a major base for India’s car manufacturing industry.

Chennai is considered as the commercial and cultural capital of South India that is on its way to become the next realty destination. Property in India is anyway the most popular industry in the country today as one sees tremendous growth in the sector. A home to numerous multinationals, Chennai still offers the lowest cost of loving as compared to other metros like Delhi, Mumbai and Bangalore. But, the real estate in Chennai is witnessing fast appreciation in property prices and rental values in wake of large investments being made in the city.

Chennai was earlier known for its trade industries since majority of its working population was related to the industry. But the IT boom in the city has gradually changed its profile and made it an IT destination. This shift came about with large-scale commercial developments in the city including offices and commercial complexes extending advanced infrastructure with state-of-the-art amenities. The influx of industries generated the need for housing properties to cater to the growing population of professionals. Now, the boost in residential property of Chennai is driving the real estate demand of the city with Old Mahabalipuram Road (OMR) being the hottest spot. Various plush residential projects are coming around the areas housing IT industries, attracting higher preference, thus, higher prices.

The demand for residential property in Chennai comprising of apartments, flats, duplex houses, etc. has gone exponentially high. It is facing a shortage of at least a lakh houses, distinctly emphasizing the colossal development needed on this front. A fast paced approach needs to be adopted in order to meet the enormous demand created by both buyers and investors-individuals and corporates. Various leading property developers like Unitech Limited, DLF, Shriram Group, Hiranandani Developers, Purvankara, etc. have been engaged in this massive task of building houses in Chennai.

The real estate market of India today is concentrating on developing affordable housing for all. This is why as soon as an affordable residential project gets completed and sometimes even before that, it is completely sold out in a short period of time. The concept of budget housing has become a favorite with property buyers as it offers international standard lifestyle at cost effective prices. The need is urgent and so, property builders need to quickly launch large scale development projects to meet the demand. Some of the fastest growing real estate areas in Chennai are OMR, GST Road and Sriperumbudur. These regions are going through a makeover with numerous residential and commercial developments taking place. As soon as the development work in the city gets over, an upward fluctuation in prices is sure to be expected.

This is, definitely, the right time to invest in residential property in Chennai as its market has just started growing. Once prices increase, they will be sky high equaling to property prices in other metros- Delhi, Mumbai and Bangalore. Those who invest in flats or apartments in Chennai today would reap huge benefits in future. If you are looking for further guidance to invest rightly in Chennai real estate, then realty brokers, agents and dealers can be great help.

According to the law of demand and supply, the property prices in the upcoming realty hub, Chennai will grow manifold.

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Source by Deepika Bansal

Digital Transformation in Real Estate


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In the last five years, however, the paradigm of real estate transactions has gone through a major change with digital transformation of our societies being at the heart of this change.

Every aspect of our lives has changed drastically in the last two decades and much of the change has been fuelled, catalysed and necessitated by the increasing digital awareness and ubiquity. The Real Estate industry, although, much slower to adapt to this change has since picked up pace and is now at the forefront of some of the cutting edge innovations.

As our lives are more connected, and there is greater financial freedom with easier movement possible, a greater value has now been found in attempting and executing phone system transactions online. There is less apprehension and greater confidence being shown by buyers, sellers, brokers, lessors in deploying digital mediums to conduct their real estate business.

The National Broadband Network in Australia is set to take this transformation into a much higher terrain as improving connectivity and access will bring about better transmission of data, improved transparency and a much larger populace into the online phone systems fold. Consumers will be able to view and evaluate properties from far and wide, while developers will be in a position to pitch them to a more varied audience. The brokers will find themselves being able to create unified platform for the interaction of both buyers and sellers.

Digital transformation in the real estate sector also means that there is an improved coordination and liaison amongst the various parties involved. Virtual meetings, conference calls and video conferencing means that physical presence is no longer the clinching requirement to close a deal. Digitization also moves the land records and ownership documents to the online sphere, this reduces fraudulent transactions and improves confidence amongst buyers.

Thus, we see that the actual transformation brought in by increasing digital presence in the real estate industry is to increase transparency and improve confidence amongst buyers. This has in turn allowed for a greater organization of the sector. Real estate brokers are now no longer regional players but can scale their operations with considerably decreased costs. For the buyers, there is a greater sense of security in real estate transaction. They have greater access to information which in turn provides them a clearer picture of the property in question and the sellers on hand. For the sellers, the new digital age has opened up new market avenues hereto non-existent. Wider scope, better targeting and improved conversions have helped bottom lines.

In conclusion, digital transformation has been a holistic and all-encompassing phenomenon that has helped each one of the stakeholders in the telephone systems chain.

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Source by Susheel Tadka

Real Estate Marketing: Farming a Neighborhood

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Among the means at your disposal for collecting leads and growing your quick-turn real estate business is establishing a farm area where you do business on a regular basis. This is a technique used by many different types of professionals to assure themselves a steady supply of business.

So what are the advantages to having a farm area? Familiarity is the big one. As you stake out and cultivate your territory you will become familiar with the area, the market, what types of people live there, what types of people are buying there, what types of properties are being sold, and for how much.

This makes it easier and quicker for you to evaluate deals. Having a farm area also allows you to consistently focus your marketing, leading to repeated exposure and increased response rates. If you continually market to an area with signs, fliers, business cards, and direct mail, it will become essentially saturated with your marketing message and your response rates will soar.

There are some drawbacks to farming as well, which are fairly easily overcome. The main one could be that your focus is narrowed to the area you are farming, but if you choose your farm area well then this should really be more of a help than a hindrance, because it will mean more business for you overall.

Farming does require a large time and energy investment on the part of whoever does it, but this can either be you or it can be someone you hire on a wage or commission basis or someone you partner up with. The only real reason for concern might be if you feel uncomfortable in the neighborhood you are farming, but then you might want to work in a nicer neighborhood anyway.

There are some specific tools that are necessary to employ this technique, for you or your help. A car or similar means of transportation is at the top of the list. A digital camera is also essential, as well as a notebook with a log sheet and printed maps of the farm area. The best use of the digital camera comes from using it in conjunction with a small dry erase board to capture information. And finally, any time you are in your neighborhood you should have a stack of business cards handy.

When you farm, you’re just in the field looking for leads. Go street by street, recording and photographing anything that looks interesting to you: abandoned properties, fsbos, ongoing rehabs, and anything else that gets your attention and that might put you in touch with a motivated seller or buyer.

It’s important that you be consistent about farming and about placing your marketing. The more you talk to people in the neighborhood and hand out your business cards, leave your fliers on doors, and place signs in visible locations, the more business you will have, and if you are consistent your business will be. While you are driving track your progress on the map with a highlighter, so that you will be sure to cover the entire area.

If you use farming as a tool you will enjoy the benefits of working in an area where you are familiar with the neighborhood, your customers are familiar with your marketing, and your closing officer will become familiar with you.

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Source by Omar Johnson

Understanding Commercial Real Estate In New York City

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PREFACE

It is not uncommon for an area calculated from original plans to vary from the area that is measured during a field survey. It is also not uncommon for a site measurement done by one party to vary from a site measurement done by another party. Typically there is a two percent (2%) or less variance allowed between calculations. If there is a difference greater than two percent (2%), it is recommended that an unbiased third party be hired to re-measure and resolve the matter. Also, if you have any questions regarding verbiage, please check our DEFINITIONS page.

DECIPHERING THE CODE

REBNY (Real Estate Board of New York)
RECOMMENDED METHOD OF FLOOR MEASUREMENT
FOR OFFICE BUILDINGS
Effective January 1, 1987

In order to facilitate a comparison of the cost of space among buildings, The Real Estate Board of New York, Inc. recommends that owners use a standard definition of usable area and that they clearly explain how rentable area is calculated based upon such usable area. Architectural plans and calculations should be made available to the tenant if requested.

The Real Estate Board of New York, Inc. recommends the following definitions and methods as the Standard Method of Floor Measurements in office buildings. Any Board member who advertises office space for rent is expected to follow these guidelines in determining any rentable area count mentioned in the advertisement.

RENTABLE AREA:

Because of dissimilarities among buildings, calculations of rentable area may vary. If requested, owners should disclose to prospective tenants the loss factor used for spaces under consideration.

Loss factor means that each tenant is paying for more space that they actually occupy. In addition to their space, they are responsible to pay their portion of common areas throughout the building. To a tenant this would be considered a loss. Buildings are all different in how much Common Areas they have. The national range is usually between 8-25%, but New York City is usually around 15-30%. No building is required to give accurate numbers. If a space is measured with a 10% factor, they can rent space at a 15% factor in order to make more profit. The factors vary from floor to floor, so a building may also use one fixed (usually average) factor for the whole building. There are no guidelines for this.

Example: A tenant is looking at two (2) spaces in two (2) different buildings that are both 10,000 square feet. One building could have a load factor of 10% and the other is at 20%. This means the tenant will be paying for 11,000 square feet or 12,000 square feet respectively. At $2 per square foot per month ($22,000 or $24,000), over a five (5) year lease, that is $1,320,000 (10%) vs. $1,440,000 (20%). That is a difference of $120,000. The tenant may have thought that they would only be paying for 10,000 square feet at $2 per foot over five (5) years, which is $1,200,000.

When all that matters in making a deal is dollars and cents, the bottom line for the tenant is to get a low loss factor.

USABLE AREA, SINGLE TENANT FLOORS:

Measure the floor to the outside surface of the building. Subtract from this area the following, including the finished enclosing walls:

• Public elevator shafts and elevator machines and their enclosing walls.

• Public stairs and their enclosing walls.

• Heating, ventilating, and air-conditioning facilities (including pipes, ducts and shafts) and their enclosing walls, unless such equipment, mechanical room space, or shafts serve the floor in question.

• Fire towers and fire tower courts and their enclosing walls.

• Main telephone equipment rooms and main electric switchgear rooms, except that telephone equipment and electric switchgear rooms serving the floor exclusively shall not be subtracted.

This section is much clearer. It begins by stating the building is to be measured to the finished exterior surface of the building which is a variation of the BOMA standard. This can be a difficult task as the building can change thicknesses every floor and there is no way to accurately measure the wall thickness when you cannot access a door opening.

An example of how this can affect the square footage is to look at building with an exterior footprint that is 200 feet by 100 feet. Let us say this building is ten (10) stories with an exterior wall thickness of 7″. The Gross Floor Area (GFA) is 20,000 square feet to the exterior surface, while the interior GFA is 19,651 square feet if measured to the inside of the exterior wall. This can mean additional profits by having the tenants pay for the thickness of the walls.

The next section talks about all the building elements which must be taken out of the total square footage. If a single tenant takes the whole 20,000 square foot floor, they will not be paying for the whole space or GFA. The first two (2) bullets explain that elevator shafts, elevator machine rooms, public stairwells, and their enclosing walls (full wall thickness) are to be excluded. These can all be summed up as Floor Penetrations. Any and all floor penetrating elements are to be excluded from the floor rentable area. So if the 20,000 square foot floor has 2000 square feet of shafts and stairs, the rentable area is going to be 18,000 square feet.

Heating, ventilating, and air-conditioning elements (pipes, ducts, shafts) and their enclosing walls (full wall thickness) are also considered floor penetrating elements. If a buildings boiler and air handling unit are in the basement, there are shafts that need to run up to the top floors without interruption. This means each floor will be penetrated by the shaft and need to be taken out of their rentable square footage. The times when this may not happen is in specialty spaces where there may be an excessive amount of computer hardware in which the tenant installs their own air handling unit on their floor to cool the computers. This is a situation where it only serves this one tenant and is not excluded from the total square footage.

The same goes for all fire tower, fire tower courts, and their enclosing walls. Fire towers are defined in New York as an exit that can be used in lieu of an interior stairwell as long as they comply with all requirements for an interior stairwell, with a few modifications, e.g., walls must have a fire resistance rating of at least four (4) hours, be accessible only through an outdoor balcony or fireproof vestibule, open directly to the street or court yard, etc. A Fire Court is the space in which the fire tower exits into and must be open to the sky.

Lastly, all main telephone, electric, other mechanical spaces, and their enclosing walls are not to be counted unless they specifically serve that floor in the same respect as the heating, ventilating, and air-conditioning units.

USABLE AREA, MULTIPLE TENANT FLOOR:

• First, calculate the usable area as if for a single tenant floor.

• Then deduct corridor areas, including toilets, supply room, etc., but do not deduct the enclosing walls of such corridor.

• Measure the net usable area of each space on the floor by measuring each enclosing wall which is a building exterior wall to the outside surface of the exterior walls, or to the outside surface of the glass as the case may be. Measure demising walls to the center and walls which abut corridors to the corridor side of the finished surface of the corridor wall.

• To determine the usable area on a multiple tenant floor, apportion the corridor area to each space by multiplying the corridor area by a fraction, whose numerator is the net usable area of the space and whose denominator is the total of the net usable areas of all the spaces on the floor, and add the result to the net usable area of the space.

When we look at multiple tenant floors, there are a few more things to take into account. As stated, we calculate the useable area as if it were a single tenant. When measuring between two tenants, we measure to the middle of the wall, which is to say that each tenant is paying for half of the thickness of the wall. Then we measure all shared common areas, such as corridors, restrooms, janitor closets, building storage, etc. and designate it as Floor Common Area. The enclosing walls stay a part of the tenant’s space, meaning the tenant will be paying for the wall of the corridor where the spaces are adjacent. These common areas are to be distributed to each tenant on the floor based on the percentage of the floor they occupy.

For instance, a floor in our 20,000 square foot building has two (2) tenants. We first take out the floor penetrations, which leave us with 18,000 square feet. We then measure all common areas and come up with another 2,000 square feet. This leaves 16,000 square feet of usable tenant space. One tenant has 12,000 square feet and the other has 4,000 square feet. The tenants occupy 75% and 25% respectively. Now take the 2,000 square feet of common areas and appoint to each tenant their portion based on percentage. The tenant with 12,000 square feet will take 1,500 square feet (75% of 2,000) and the 4,000 square foot tenant will add 500 square feet (25% of 2,000) to their space. Add in the building common space and you will have your Total Rentable Area for a multi-tenant floor.

BELOW-GRADE, CELLAR AND SUB-CELLAR SPACE:

To determine the usable area of below grade, cellar and sub-cellar areas, follow the same procedures as are appropriate for single or multiple tenant floors except that the following additional areas should be deducted from usable area:

• Machine rooms and pump rooms and their enclosing walls.

• Electric switchgear rooms and their enclosing walls.

• Telephone equipment rooms and their enclosing walls.

• All space devoted to servicing the operation of the building, i.e., cleaning contractors, storage, building maintenance shop, building engineer’s office, etc.

This section is very clear in what they say, but they do not seem to say enough. Any space below-grade which is used to run any part of the building is to be deducted from the square footage in the same way a floor penetration is deducted. They are not to be used as a Building Common Area. As stated, these rooms can be anything which is essential to the proper running of the building, including all rooms stated above as well as:

  • Uninterrupted Power Supply (UPS) or Battery rooms and their enclosing walls;
  • Main Electrical rooms and their enclosing walls;
  • Elevator switchgear rooms/ bays and their enclosing walls;
  • Building storage and their enclosing walls. NOTE: Any tenant storage shall be allotted to that tenants Useable Square Footage including chain link fence storage units.

What there is no mention of in this section is underground parking garages. Technically, using this pamphlet, we could use all underground parking as Building Common Area and have the tenants pay their portion of using the garage. Even if a tenant does not use the garage, it would still be factored into their rent. Often, a below grade parking level is the same size or larger than the footprint of the building above. This would create enormous Loss Factors for the tenants and should be clarified. The BOMA standard implicitly states that all parking areas are not to be used in any calculation, not even Gross Building Area.

RECOMMENDED METHOD OF FLOOR MEASUREMENT FOR STORES:

1. The rentable area of a store shall be computed by measuring from the building line in the case of street frontages, and from the inside surface of the outer building walls to the finished surface of the corridor side of the corridor partition and from the center of the partitions that separate the premises from adjoining rentable area.

2. No deductions shall be made for column and projections necessary to the building.

3. Rentable area of a store shall include all area within the outside walls, less the following, with their enclosing walls, if serving more than one tenant: building stairs, fire towers, elevator shafts, flues, vents, stacks, pipe shafts and vertical ducts.

4. The following area shall be included in rentable area, if such areas exclusively serve a store, together with their enclosing walls: private stairs, private elevators, toilets, air conditioning facilities, janitors‘ closets, slop sinks, electrical closets and telephone closets. When air conditioning facilities serve more than one tenant area, they shall be apportioned in the same manner as that used for single tenancy floors.

5. Where a store fronts on a plaza or arcade which is intended for use by the general public and is not for the exclusive use of the store tenant, its customers, etc., the area of the plaza or arcade shall not be included in determining the rentable area of the store.

Many buildings have retail space on the first floor. These spaces are not measured the same as a regular office area, mainly in the fact that you can measure an exterior, uncovered space and count it as the stores Useable. This section is tricky because it is not always easy to find where the building line is, also referred to as the set back requirement.

Building Line (from Definitions): A line established by law or agreement usually parallel to a property line, beyond which a structure may not extend. This restriction generally does not apply to uncovered entrance platforms, terraces, and steps.

Typically, the building will be set back from the street and sidewalk. Each lot has a required setback from the street. Let us say this setback is 20 feet on the front, 7 feet from both sides and the back. The building is built 22 feet from the front, and 7 feet from the sides and back. This means that the store useable area can be calculated to include the extra 2 feet at the front of the building.

What they describe in No. 1 are two dimensions which will come together as one long dimension. You would measure from the building line to the exterior of the building, then add the wall thickness to that dimension to get from the building line to the inside surface of the outer wall. Then get the dimension from the inside surface of the outer wall to the demising/corridor wall. Depending on how the store is laid out, it can be either. If the store is adjacent to a corridor or another tenant, the rules of a Multi-tenant floor apply.

Number 2-4 are all the same as previous examples of Single and/or Multi-tenant floors.

Number 5 is very hard to gather a full understanding. While referring to stores which are in a plaza, arcade, square, or other large public gathering place that is not a street, it indicates that these areas are not exclusively used by the tenant or its customers and therefore cannot be measured. There are many examples of stores (restaurants) that are in a public plaza and have a roped off area for seating. One interpretation may say this should be considered Useable area because it roped off and exclusively used by tenant and customer while another interpretation may say it is still a plaza and cannot be counted. It is just a little too vague. This is where the building manager or owner may want to decide which interpretation is best for their purpose.

Areas also to be excluded from the store measurements are:

  • Canopies and covered staging platforms;
  • Unenclosed connecting links or area ways;
  • Unenclosed exterior staircases or fire escapes.

VARIATIONS FROM ANSI/BOMA STANDARD

  • Office buildings are measured to the outside surface;
  • Corridor walls are part of the USF for the tenants
  • No mention of how to actually measure corridors, i.e., minimum corridor, dead ends, and extensions;
  • Stores are measured from the building lines;
  • No mention of parking areas;
  • Not using Main Building Function rooms as part of Building Common.


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Source by David Aube

5 Reasons to Invest in Mexico

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Following the initial influx of foreign real estate investors into the Mexican property market, the country has remained a steadily popular environment for both investment and re-location. The stable growth of Mexico’s political and economic environment has provided increased security as an emerging market investment location.

Buy-to-let investors are continuously on the increase, especially in coastal resort locations such as Cancun, largely in part due to the steady stream of holiday makers flocking to the tropical destination throughout the year from all around the world.

An extensive list of reasons can be created as to why ever increasing numbers of buyers are continuously looking towards Mexico to increase real estate portfolios, yet the main five reasons have been listed below.

1. Stable Economic and Political Environment

In recent years the Mexican government has strived to reform the political environment, creating a strengthened economy and encouraging direct foreign investment. Foreign investment into the Mexican economy is predominantly from the US and Spain, with construction being one of the smallest sectors. The avoidance of being heavily reliant upon the construction sector provides increased stability and ample room for growth in the real estate sector.

Unemployment is on the decrease, contributing to the economic growth of the nation over the past decade. Infrastructure reforms across the country have been a focus of a succession of political integration, creating continuously improving and modern telecommunication and transport networks.

Due to the country’s stable economic environment, the local currency holds strong. A strengthened currency can assist with determining the economic stability of an emerging market investment environment, displaying an ideal real estate investment location in Mexico’s sought after tourist regions.

2. Strong Real Estate Market Growth

The Mexican government has taken considerable effort to reform the country’s real estate sector for both the domestic market and foreign investors. The domestic market is continuously growing with the fast expanding middle class society and accessibility to mortgage financing.

Foreign investment was initiated predominantly by the North Americans for holiday and winter home purposes. The attraction of a second home along the stunning resorts of Mexico’s coastlines grew considerably due to the capital growth potential, strong yield returns, close proximity with easy access to major US cities and comparably low property prices to popular US coastal resorts.

3. Emerging Mortgage Market

Following the introduction of Mexico’s mortgage market in 2003, the market has grown at an exceptional rate. Decreasing interest rates also assisted with enabling accessible financing options to the domestic market and foreign investors.

Since the establishment of mortgage financing for Mexican real estate, the market has matured in regards to availability, security and accessibility to a wider market sector. Assisting with the growth of the mortgage market has been the country’s growing middle class society in a country becoming increasingly modern and attractive to foreign investment.

4. Ideal Re-location and Investment Environment

Mexican real estate investments soon became a popular choice for European buy-to-let investors for the pure, straightforward investment opportunities the region represents. High demand for properties in locations such as Cancun and exemptions for capital gains taxes for semi-permanent residents have assisted with exit strategies.

The low property taxes, double taxation treaties and free trade zones have helped to increase the numbers of foreign buyers consider living permanently and basing businesses in the country. Restrictions to foreign buyers relating to the location of the property being based within a restricted zone are easily and safely diverted through Mexican Real Estate Trust Agreements.

The growth of the country’s economy has assisted with the fast expanding middle class society, eager to enter the property market. As the Mexican government places priorities on creating access and financing to the domestic population to access housing, the extensive population of the country enable ideal exit strategy opportunities due to the increasing demand of properties against the supply.

5. Growing Tourism

An active tourism sector is highly important for buy-to-let investors, as the tourism market is directly linked to the yield return potential for investment properties. Located in the tropical Caribbean coastlines, areas such as Cancun feature year round tourism markets with exceptional returns during the high seasons.

Cancun receives around 3 million of Mexico’s 22 million visitors annually, attracted to not only the stunning beaches and warm weather, yet also the wealth of cultural attractions located in the surrounding area. The close proximity of Cancun to cities such as Florida enables convenient access for short stay visits.

Tourism continues to grow and equally important for Mexico’s tourism sector is that visitors are continuing to spend more money during their stay on an annual basis. Investors of buy-to-let properties in the resort town benefit from offering sought after private properties for groups of travelers and families being competitively priced in comparison to paying hotel prices for large groups.

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Source by Melissa Chappell

Real Estate Property-Properties In Noida

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The demand for Noida real estate properties, both residential properties and commercial properties is reaching new heights. Greater Noida seems to attract more investors and developers due to its better infrastructure facilities arrangements and also a direct metro connection with Delhi and the Express Highway (Taaz Express) to Noida will enhance and facilitate easy movements to Noida. Greater Noida falls within the National Capital Region in New Delhi and is located very near to Noida Industrial Township. In recent years, it is considered to be an emerging real estate destination for both residential and commercial properties due to its metro extensions, express highways, and wider roads.

Noida property market has an exceptional demand for residential complexes surrounded with modern amenities like fitness centers, children parks, fun parks, medical aid centers, restaurants, community hall and shopping centers. Properties in Noida certainly benefits from the relative proximity to Delhi. Excellent network of roads and other civic infrastructure make up for a good idea to stay here. Also, Noida is attracting large interests from young well to do professionals who are making Noida, the highest income tax paying district in UP. The real growth drivers of real state in Delhi are NRIs and working population. They prefer to settle in Delhi due to the fact that it has state of art infrastructure, proximity to other cities like Noida, Gurgaon. Interestingly though the capital prices of residential real estate in some sectors of Noida have gone up by almost 5-10 per cent in the past 3-months. Moreover, the demand for residential properties in Noida and Greater Noida is likely to shoot up in very near future, feels industry watchers. Greater Noida also boasts of being the only city in North India with privatized power distribution which ensures efficient and uninterrupted power supply. An international airport is also coming up in Greater Noida.

So the he Delhi NCR region has witnessed a great number of residential property projects being constructed and the market speculation is that the growth will continue in the same pace for the next two to three years. Noida and Greater Noida are the emerging destination in NCR for the investments in properties in noida or Greater Noida. Greater Noida falls within the National Capital Region in New Delhi and is located very near to Noida Industrial Township. In recent years, it is considered to be an emerging real estate destination for both residential and commercial properties due to its metro extensions, express highways, and wider roads.

The demand for Noida real estate properties, both residential properties and commercial properties is reaching new heights. Greater Noida seems to attract more investors and developers due to its better infrastructure facilities arrangements and also a direct metro connection with Delhi and the Express Highway (Taaz Express) to Noida will enhance and facilitate easy movements to Noida. Greater Noida falls within the National Capital Region in New Delhi and is located very near to Noida Industrial Township. In recent years, it is considered to be an emerging real estate destination for both residential and commercial properties due to its metro extensions, express highways, and wider roads.

Noida property market has an exceptional demand for residential complexes surrounded with modern amenities like fitness centers, children parks, fun parks, medical aid centers, restaurants, community hall and shopping centers. Properties in Noida certainly benefits from the relative proximity to Delhi. Excellent network of roads and other civic infrastructure make up for a good idea to stay here. Also, Noida is attracting large interests from young well to do professionals who are making Noida, the highest income tax paying district in UP. The real growth drivers of real state in Delhi are NRIs and working population. They prefer to settle in Delhi due to the fact that it has state of art infrastructure, proximity to other cities like Noida, Gurgaon. Interestingly though the capital prices of residential real estate in some sectors of Noida have gone up by almost 5-10 per cent in the past 3-months. Moreover, the demand for residential properties in Noida and Greater Noida is likely to shoot up in very near future, feels industry watchers. Greater Noida also boasts of being the only city in North India with privatized power distribution which ensures efficient and uninterrupted power supply. An international airport is also coming up in Greater Noida.

So the he Delhi NCR region has witnessed a great number of residential property projects being constructed and the market speculation is that the growth will continue in the same pace for the next two to three years. Noida and Greater Noida are the emerging destination in NCR for the investments in properties in noida or Greater Noida. Greater Noida falls within the National Capital Region in New Delhi and is located very near to Noida Industrial Township. In recent years, it is considered to be an emerging real estate destination for both residential and commercial properties due to its metro extensions, express highways, and wider roads.

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Immobilienmakler Heidelberg

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Source by Deepika Bhagra

Buying Properties at Auction in Alabama

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Foreclosed homes and repossessed or repos properties are one of the quickest ways to make a profit in the real estate investment market. Properties can be purchased at auction for well below market value, then rented or resold for substantial returns. If you’re interested in buying properties at auction in Alabama, read on for valuable information to help you succeed in this lucrative market.

How Do Properties Get to Auction?

Most properties sold at auction in Alabama are there for one of two reasons: either the former owner was unable to keep up on mortgage or loan payments, forcing the bank to foreclose on the property to make up their losses, or the home was repossessed by the government due to a backlog of unpaid taxes.

In either case, the bank or the government is motivated to sell off the real estate as quickly as possible so they can retrieve the money they are owed. Repossessed properties often end up at an Alabama auction, where they can be sold at up to 50% less than their actual market value.

How to Turn Auction Properties into Real Estate Successes

Alabama real estate properties that have been foreclosed by banks or repossessed by the government are often sold at auctions, for bargain prices. But it takes some knowledge and preparation to succeed at buying and selling auction properties. Here are some quick tips:

Come prepared. Most auctions require immediate payment in cash, so make sure you’re carrying enough money to purchase your real estate investment.

Get all the information you can. If possible, drive by any properties you’re interested in and try to get a feel for the area, the condition of the house, and anything else you can learn. Neighbors, and sometimes even the previous owner of the home, can be a valuable source of information. Make sure to attend any scheduled open houses.

Know the market. Before you arrive at the auction and begin perusing the listed properties, it’s a good idea to know the relative value of homes in different parts of the city, making it easier to recognize the best bargains.

Know the laws. Familiarize yourself with Alabama foreclosure laws so you understand the legal implications of buying and selling these properties. An Alabama real estate lawyer can provide guidance.

There is a huge potential to make a significant return on investment in foreclosed property. With the proper preparation and careful examination of the property you plan to purchase, you’ll be more likely to achieve success and higher profit margins.

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Immobilienmakler Heidelberg

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Source by Daniel Smith