The war in Ukraine has had a significant impact on most economies around the globe – therefore it comes as no surprise that it also affects house prices.
Higher House Prices Due to Inflation
Especially, the conflict has led to an increase in inflation rates, you probably already noticed it, no matter which country you live in. In some countries – due to this inflation – prices are increasing faster than wages. As a result, people are getting poorer and possibly can’t afford to buy houses anymore.
Many people already gave up looking for the cheapest property for sale. There still are some out there but usually those are in need of some work and further investment to be able to live in them or rent them out.
The cheap houses for sale, now seems to be those that were just a normal price before. Especially in bigger cities there is a shortage of housing. Also, when it comes to creating new housing, they are usually luxurious expensive stuff – as there is just a lot more money to be made.
How the War in Ukraine Affects House Prices of Newly builds
First the pandemic and now war, those has been major factors in the shortage of building materials. This in turn has led to a considerable increase in the price of new build houses all around the globe.
Also the increase in gas and energy prices have been a great hit in the market. Running machinery on the construction site, having to pay higher wages – all of this contributes to an considerable increase.
This might be felt stronger in some countries than in others.
What are the Effects of War on Housing Markets?
Housing markets are always affected by wars. The effects of war on the housing market depend on a lot of factors, including the duration and intensity of the war, the location of the war, and how it affects other countries and other aspects of life.
War can lift housing markets in some cases. For example, during World War II there was a shortage in construction materials like steel and timber. This led to higher prices for these materials and an increase in demand for homes as people wanted to buy houses before they became too expensive.
However, most wars have negative effects on housing markets. For example, during World War I there was an economic depression that led to lower demand for homes because people were not earning enough money to afford them.
Conclusion: The Impact of War on House Prices
The conflict has led to a significant shortage of houses and higher prices for those that are available. This is due to the increased cost of construction materials, as well as the number of refugees fleeing from the conflict zone. These people need housing but there is not enough supply, leading to higher prices and shortages.
If you have a house for sale, now is a good time to get a good price for us.
We all get old, that is just a fact. How do we imagine our future as an old person? Where do we like to live? Here we will look at two options: independent living such as in a retirement village and living in a nursing home.
What is a Retirement Village?
Retirement villages are a type of retirement home that provide accommodation and communal activities. For example, they offer meals, social activities, medical care and other services to the residents.
Retirement villages were originally designed for elderly people who wanted to live with others in their age group. But nowadays, there are many different types of retirement homes that cater to various needs. Some even offer houses for sale, that they buy back again if you don’t need it anymore.
What is a Nursing Home?
A nursing home is a residential institution for the care of elderly people. It provides medical and social assistance to those who, because of age or infirmity, are unable to live independently.
Nursing homes are also often called “retirement homes.” The term “nursing home” is not just a euphemism for an old-age home or rest home. It refers to the fact that many residents require nursing care.
What are the Benefits of Living in a Retirement Village?
Retirement villages offer a variety of benefits for those who are looking to live independently but still have a sense of community.
One of the benefits is that they provide on-site or nearby medical care. Retirement villages also provide socialization opportunities for their residents and also offer activities for them to do during the day.
What are the Benefits of Living in a Retirement Village?
Living in a retirement village is a great way to enjoy your golden years. Not only is it good for your mental and physical health, but it also offers many other benefits.
Some of the most popular benefits of living in a retirement village are:
-You don’t have to worry about maintaining your property
-You can live with other people who are at the same stage as you are and share advice, experiences, and knowledge
-You have access to amenities such as swimming pools, spas, gyms, etc.
What are the Benefits of Living in a Nursing Home?
Living in a nursing home can be a great option for seniors who are unable to live on their own. Here are some of the benefits of living in a nursing home:
1. A nursing home is an environment that is designed to help people with disabilities, illnesses or injuries live as comfortably and safely as possible.
2. Nursing homes provide 24-hour medical care, which can be difficult to find at other types of housing.
3. The staff at a nursing home is specifically trained to care for people with special needs and works around the clock to meet those needs.
4. Living in a nursing home allows seniors to remain connected with their loved ones because they are surrounded by friends and family members who visit often and share meals together on weekends or holidays.
What are the Drawbacks of Living in a Retirement Village?
The main drawback of living in a retirement village is that it is not for everyone. For example, if you are a person who likes to travel and explore the world, then this might not be the best choice for you. Retirement villages are usually located in a remote area with limited access to public transportation.
What are the Drawbacks of Living in a Nursing Home?
There are many drawbacks to living in a nursing home.
Some of the drawbacks that people find most difficult are the lack of privacy, the lack of independence, and being unable to control your own life.
Nursing homes have strict rules about what you can do and when you can do it.
Conclusion: Which is Better for You?
The answer to this question is not an easy one. It greatly depends on your needs and what you are looking for.
I believe most of us would choose the independent living option and enjoy a more independent life as long as possible. But what if you start needing a little extra help? Or maybe it is not you but your spouse who will need more professional care. Unfortunately, there is a lot of uncertainty about what exactly your needs will be when you are old. Will you wish for more company, help around the house, or a more intensive medical help? When planning your future, it would be good to keep all of this in mind.
A great idea is also those retirement villages that have a small nursing home on site just in case.
If you are looking to sell land, you might be wondering what the benefits of selling it to a builder are. In this article, we’ll explore the benefits of selling land to builders.
Selling your land to a builder can be beneficial for a number of reasons. The first and most obvious reason is that you will get more money than if you sold it on your own. Builders have more money and resources than individuals, so they can offer more cash for your property than an individual could. This means that they’re able to pay higher prices for the property and make better offers on price.
Builders also have connections with other developers who may be interested in buying or leasing the same property from them in order to build something new on it.
What is the Process Behind Selling a Land to a Builder?
Selling a land to a builder is a process that may take time and effort. The first step is to do research on the builder. You should know about their construction quality, project management, and customer service.
The next step is to find the right person of contact in the company. You can do this by looking at their website or by doing an internet search. You can also ask your friends who have worked with builders in the past for recommendations.
Once you have found the right person, it’s time to set up a meeting with them. This meeting should be scheduled at least 3 weeks in advance so that they will be able to give you their full attention and answer all of your questions without feeling rushed or distracted.
How Do Builders Evaluate the Property and what are their Needs?
Builders evaluate the property in various ways. They may not be looking for the same things as a home buyer. For example, they are interested in how long it will take to build on the property, how much it will cost to build on the property, and whether or not there is enough space for their desired number of units.
The builder’s needs are different than a home buyer’s needs because they want to know what it takes to develop and build on the land. Like this they can see if it makes sense for them financially.
Preliminary Investigation – What is “Due Diligence”?
Conducting preliminary investigation is the first step in the site selection process. Due diligence is the process of investigating a property before purchasing it. This is to make sure that the property the builder is buying is in good condition and free from any potential problems.
The due diligence process starts with a physical inspection of the property. This is done to check for any possible issues or safety hazards. The next step would be to check the title of the property and ensure that there are no liens on it. They will also need to do some research on the current market conditions and prices of similar sites.
The last step in this process would be to have an environmental assessment done. This will uncover any potential environmental hazards that may exist on or near the land you are looking at buying.
The preliminary investigation should not be too long because you want to start negotiating as soon as possible. In fact, some investors will not even bother with a site visit if they are satisfied with what they can find out about it through their due diligence process.
What are Some of the Documents Needed for this Transaction?
The offer letter is a document for the seller of the property. It contains all the conditions, terms and specifications of the offer.
The offer letter includes information such as:
– The name and address of the buyer
– The price and date for which the property will be sold
– The date by which a response from the seller must be received
– Any other conditions that are agreed upon between both parties
Conclusion
The process of selling land to builders is not as daunting as it might seem. It is a logical step for those who are looking to sell their land and also want the best return on their investment.
This article has outlined the process of selling your land to builders and what you need to do in order to make a successful sale.
The expression “Secret Real Estate Agent” almost looks like it was borrowed from some action movie. In reality it is a little bit less spectacular but, without a doubt, equally exciting.
What is a Secret Real Estate Agent?
“Secret Real Estate Agent” – does not mean you do this profession without being registered. Of course, also a secret (real estate) agent has to be registered and fulfil everything that is required by law. By “secret” we mean, that the agent is not publicly advertising a specific property he or she was asked to sell. He/she may not even have a website or advertise the business and in many cases the main profession is another real estate related profession, such as architect or engineer.
They are usually approached by a client who asks if they may know someone who would be interested to buy one of their properties. And that’s the only way there are allowed to sell it, by offering it directly to someone.
This might seem strange at first, but among certain groups that is exactly what they want. The best to explain this is by giving an example.
Seller doesn’t want to look like he needs money
In many cases the properties in question are from rich families. Having a certain popularity and their place in society they like to give no reasons for gossiping.
Huge estates can cost a lot of money in maintenance, tax and so on… If they actually don’t use it anymore it makes sense to let it go. This is regardless of their financial situation – nobody likes to throw money out of the window, no matter how rich you are.
Of course, if people see the big family estate for sale, the first thing they may conclude is that the family is in financial difficulties – that’s how people start talking…
That’s why it is better to sell it secretly – through a secret real estate agent of course.
Or in another case, the seller might be having an apartment block for sale and he doesn’t want his tenants to find out. Also, he would approach such agent, who will then go and talk directly to investors who may be interested to buy.
How does a Secret Real Estate Agent sell?
The only way you are allowed to sell it, is by offering it directly to someone. Or in some cases you are allowed by the seller to advertise it in another country. Like this you can get a foreign buyer.
It is a far more difficult job than a regular agent. You need a pool of good contacts, including millionaires, investors … etc. But of course, it pays off big time as the properties that are sold this way usually have a high value. You can find foreign buyers by listing real estate internationally.
Are you one of those agents? Then drop us a line and let us know how did you get started? Do you have any advice?
Prefab coach houses are getting popular by the day in Ottawa and more people have moved past considering it to getting one. If you have decided to join the moving train, then we bet you are struggling to make an important decision now.
Should you simply opt for a prefab home? Believe us, we have all been at this crossroads. What helped us was considering all the benefits a prefab has to offer.
In this read, we will be discussing some of the major benefits of getting a prefab coach house in Ottawa or even anywhere else in the world. Let us get right into it.
1. Saves Cost
One of the most common reasons people opt for prefab is that is more cost-effective. There are so many reasons for this one of which is that the building is manufactured in a controlled and centralized indoor environment.
Therefore, weather delay isn’t something to worry about. Therefore, cost overruns that are caused by working in harsh weather conditions like when it is windy, raining, or snowing are eliminated.
The same can’t be said for homes built on-site as they are prone to several disadvantages which include subcontractor and weather delays. The building materials can also get damaged by the weather or be stolen or vandalized. Sometimes, there may be delivery issues that would ultimately cost more money.
Another reason this method is cheaper is that labor cost is significantly cheaper. This is because the labor cost required for a manufactured house is often between 8-12% of the building’s total construction cost. Whereas, an on-site construction labor cost takes between 40-60% of the construction cost.
Finally, manufacturers often buy their materials in bulk so they get large discounts for the materials bought. These discounts are often passed down to people who buy from them.
2. It is Faster
The production cycle of manufactured coach homes is a lot shorter. Depending on several factors, a coach house built on-site can take a while to build.
Manufactured homes don’t have to go through that much process as they just have to be bought and then set up. This would help you move into your new house in record time if you are short on time.
3. Superior Quality Control
As we have said earlier, prefab houses are made in climate-controlled environments. Also, the people in charge are experts who have a lot of experience in the field as they build several houses daily. They are used to making the same work every day so their expertise can hardly be questioned.
Despite all these, their works are properly supervised. As if that isn’t enough, they have to abide by both the state and federal quality control laws and programs. Finally, the tools, technology, and machines used by manufacturers are top-notch. This does not just speed up construction but also delivers more precise results.
So, the quality control when it comes to prefab coach homes is often superior.
4. Safety
The materials used for prefab homes are also used for on-site buildings. Also, as we have said, manufacturers often engineer their products for energy efficiency and wind safety. So, safety isn’t something to worry about if you opt to get a manufactured coach home.
5. Less Waste
When you opt for a prefab coach house in Ottawa one thing you won’t have to worry about is excessive waste. This is because prefabricated houses are already made, hence, the greater part of the waste would have already been disposed of or recycled in the factory.
Aside from this, waste is also reduced in how much defective materials like damaged boards and warped studs have to be replaced.
As we have said, manufacturers of a prefab coach house often buy their materials in bulk. Material suppliers, therefore, often send the best materials to them so that they will keep coming back.
Conclusion
Deciding on whether to get a prefabricated coach house or to build it on-site can be quite a difficult choice to make. Hence, we have discussed some of the benefits of prefab coach homes in this article to help you make a great choice.
If you are deciding your career and you like to know what’s the deal with architects vs real estate agents – maybe to decide whether you should be an agent now or study to become an architect than this article is for you.
Architects design buildings and carry a lot of responsibility – therefore one might think that an architect would gain more money. But this might not necessarily be the case. Of course, it depends on a few factors, such as the country you are working, how famous you are as an architect or how many social connections you have as an agent.
Who Gains More – The Architect or the Real Estate Agent?
Architects gain less on a house than real estate agents, and this is because they don’t get a commission on the sale of the house. They instead get paid by the hour or for their design.
Therefore, there is a sense of fairness in paying architects less than they would pay to an agent. Architects are rewarded for their creative skills that they put into the design of the house, whereas an agent may just be rewarded for negotiating skills.
In some cases, it might be that the architect gets as little as 1% of the house worth for his work whereas a real estate agent might get 3% or more to sell a property. Also, one house might be sold a few times over the years, giving more chances for agents to make money. If that’s the case it seems obvious that it is more profitable to be an agent rather than an architect.
You have to keep in mind though, that agents don’t sell all houses that they have on offer. This means they might be putting a lot of time and effort into some deals that will never give them anything in return.
Architect vs Real Estate Agent
An architect is the one who designs the building. They are responsible for the construction of buildings, buildings layouts, and more.
An agent is a person who sells real-estate property on behalf of the owner. They are also called property agents or estate agents. Their main job is to find clients and help them buy or sell their property.
Architects who are famous are more likely to make more money. They are the ones who design the big building, and they need to be paid for their expertise. On the other hand, real estate agents will always be needed in the process of selling and buying a property.
The Difficulty for Architects in Marketing Their Own Product
Architects face a lot of difficulty when marketing their own work. The architecture profession already suffers from low status and low pay, so it is increasingly difficult to get into marketing your work as well.
They must take on the role of artist, developer, manager, and marketer in order to market their work well. They must become a jack-of-all-trades in order to succeed in this industry.
What Are the Best Countries for Architects?
Architects are one of the most well-travelled professions in the world. They visit different countries for various reasons; such as to get inspiration, to network with other professionals, or even to find a better work environment.
While this is true for all architects, it is especially true for freelancers who have more flexibility in their schedule. Freelance architects often rely on connections with local firms abroad because they can’t afford to work without income for too long.
What is the Difference Between the Two Jobs?
Real estate agents are professionals who are responsible for the sale of properties. They market the property, show it to prospective buyers and negotiate the price of the property.
Architects are professionally trained in disciplines like design, construction, and engineering. They take up careers in building construction and design.
If you work as a real estate agent you would interact with clients on a daily basis who want to buy or sell their house or land. It is possible to work as an agent without any formal education. Although most people prefer experience over qualifications which is why it’s always better to start by working at another agency before branching out on your own.
Architects usually have graduate degrees in architecture from accredited schools/universities that take three years or more to complete.
Conclusion
Do real estate agents make more money than architects? Yes! While architects need to go to university and carry a lot of responsibility, real estate agents don’t need to go to university, and they make more money with less responsibility.
Buying or leasing a property is a huge experience that requires a lot of planning. There is the hunting phase and the sealing of the deal.
To make the whole process easier, you will need the help of a good real estate agent. Working with a trustworthy and experienced agent, who knows the ins and outs of the industry, can guarantee you the best prices in the market.
Nonetheless, with so many brokers in the market, finding a perfect agent can be tricky. To make the search easier, here are some of the key things to consider when choosing the right expert healthcare real estate to work with.
Healthcare Real Estate Expertise
It is advisable to choose a realtor with healthcare industry experience. Although there is a thin difference between a home agent and a medical facility agent, there are things a healthcare real estate expert must understand.
In healthcare real estate, careful consideration is paid to space planning, patient flow, and facility access. A realtor who understands this will help you choose the right space that befits a health center. This also saves the tenant money and time during the search process.
Abides by different laws
When leasing a commercial health care facility there are different laws to abide by. The realtor must be aware of these laws. These restrictive regulations include occupation safety and hazards, proper disposal of medical waste, required building capacity along with state at local regulations. A good realtor will also ensure their clients abides by these laws at all times.
Seek referrals
While you can always find the information you want online, but referrals are always the best. There is no easier way to know about an agent than a referral from someone they worked with in the past. Ask a fellow health care provider for recommendations. If someone had a good experience with a particular agent, they will most likely recommend them to someone else.
Strong core values
Core values are important in both business and pleasure. You want to work with someone truthful and transparent with what they do. They should be honest when it comes to prices, the number of listings available, and their years of experience among others.
Availability
The activities involved in the real estate business are many. Sometimes the realtor may be required to work extra hours to beat the deadline. Choose someone who will be there to answer your calls and solve issues beyond their typical office hours as long as it is within reason. However, calling your realtor in the wee hours of the night can be quite unprofessional. Still, if you find it difficult to communicate with the realtor within the day, we recommend looking for someone more reliable.
Interest in client’s well-being
Every realtor has to guide the client accordingly. However, this doesn’t mean deciding for them. A reputable agent will provide all the information about the property, whether good or bad.
Once you have sited the best location for your hospital, you will want a real estate company that is familiar with the specific area.
Does your agent know about the number of hospitals in the district? How about the area’s population and the selling or leasing prices of houses in the neighborhood?
The agent should also give you a feel of the community including the parks nearby, the kind of volunteer services available, the popular restaurants among others. Also, find out if there are any chemists nearby where you can source your hospital supplies.
Price
Buying or leasing a medical facility is an expensive affair that requires proper financial planning. The prices vary from one agent to another.
A majority of them will ask you to pay a fixed amount as rent and deposit. Others will ask for additional legal fees and service charges. Compare prices from different realtors and only choose an agent who fits your budget.
Still, if the price is unrealistically low, this could be a huge red flag. The low prices are probably due to incompetence or lack of experience.
Location
Check to confirm whether the realtor’s office is close to where your property is located. Being close means that he will be easily accessible when needed. They are also likely to be aware of the real estate listings in the area.it also means you will not have to travel long distances to view the property.
The right credentials
Besides a license, the healthcare real estate expert must have undergone various training and acquire credentials or affiliations at the end of the studies. This means they are well versed in the real estate market. Consider choosing a realtor with vast knowledge of your individual needs. Click here to read more insights on how you can choose the right real estate agent.
Conclusion
Finding a good property expert might not be easy, but with the right source, the entire process becomes much easier. You can always get referrals from those you trust or from agents you have worked with before. Even so, you should also consider searching their web and interviewing them. Getting first-hand information is always the best option. Also make sure they are licensed and have the right credentials. Lastly, choose someone you’re completely comfortable working with.
Real estate investment is a great way to make a passive income with a lot of potential. But what should you do before starting your own business?
There are a few things that you should know before you start your own real estate investment firm. The first thing that you need to know is what kind of business model do you want to use? Do you want to work with investors as an information broker or as an investor yourself? If this is something that appeals to you, then it is important for you to understand the risks associated with both options.
The Current State of the Real Estate Industry
The real estate industry has been a longstanding and profitable industry that has been around for decades. The market has shifted over the years where more and more people are going to real estate investment firms to buy property because of their low capital requirements as well as the profitability of the trade.
Might sound like an oxymoron but a lot of people want to be a “real-estate agent” these days. They want to be an authority on all things real-estate, but what they don’t know is that there are many other ways for them to invest in the field without being an agent.
How does One Determine if they have Enough Funds or Credit Scores to Start an Investment Firm?
A strong investor with a successful track record is not the only requirement to start an investment firm. They also need to have enough funds or credit scores that are relevant for the type of investment they are starting.
There are many factors that one needs to take into account when considering investing in an investment start-up. One of the most important ones is your credit score and your ability to borrow funds for investment start-ups.
Introduction of Potential Investors in Your Real Estate Business Venture
The first step in getting potential investors is to have a plan. You need to write down all the risks, the benefits, what will the company look like after it’s been funded – basically everything that can go wrong and what could go right.
The next step is to find people who are interested in your project. This typically involves networking or reaching out on social media.
The third step is to create a pitch deck for potential investors who are thoroughly interested. A pitch deck typically includes financial information about your business, information about the team running it, and other important details about your company’s future goals.
Networking Strategies for Successful Real Estate Investors
Finding a network of people with the same interests and goals is one of the most important steps in becoming a successful real estate investor.
Networking is a broad term that means connecting with others to share knowledge, skills, and expertise. There are many different networking strategies for entrepreneurs who want to make connections with others in their field. In order to create successful connections, you need to be remarkably genuine and offer something of value in your interactions.
In addition, there are many ways for entrepreneurs to get started when it comes to networking. For example, you can go out and attend events that will allow you the opportunity to meet new people and potentially find potential connections in your field. You can also use sites like LinkedIn or Facebook groups for this purpose as well.
What are The Different Types of Property You can Invest In?
Owning property is an exciting prospect, but can also be daunting. There are many different types of property you can invest in, and the price ranges vary widely. To make it easier for you to narrow down your options, here are some of the most common.
There are four main kinds of properties that you can invest in: residential, commercial, industrial and agricultural properties. Residential properties are the most common type of property for people to buy because they require less work than other types when it comes to upkeep and they already come equipped with things like plumbing and electricity for your convenience. You may want to look for apartment blocks for sale.
Financing Your Investment Properties
Investing in property is not always the safest way to make money. However, it does offer a lot of investment opportunities and can be a great way to grow your wealth over time.
One of the most popular ways for investors to finance their properties is by taking out a loan from their bank. This option offers the simplicity of being able to get approved for up to 95% LTV on purchase or refinance transactions. The downside, however, is that you are not only securing your own house but also any other investments you have.
There are also many private lenders who offer financing options for real estate investors who have good credit scores and cash reserves set aside for their own down payment. As with any other investment opportunity, there are risks involved with private lending.
What Helps You Succeed as a Real Estate Investor?
It’s important to know that investing in real estate is not always an easy task. There are many ways to lose money and there are also many ways to make it. If you want to be successful as an investor, then the following tips will help you.
1. Do Your Research
Develop a game plan before you purchase your first property so that you’ll know exactly what you should buy and how much it will cost. You’ll also need to decide if you want the property for rental, flipping or long-term hold so that you can find the right place for your investment strategy.
2. Get Creative with Your Finances
It’s important that real estate investors have enough capital because their money is their most valuable asset in this business – they need enough of it to cover all ongoing expenses.
Buying land can seem intimidating, but it doesn’t have to be difficult if you know what to expect when you go in. If you are looking to buy a piece of land, the government is one of the best places to start your search. The government offers many different types of land for sale at their auction sites. Some auctions may even be specifically designed for homes or businesses! Follow these steps, and buying a piece of property will be much easier than expected!
The government has a lot of land ready to be sold, but they lack time and commitment, so they use various auction websites that help the government sell the land as easily as possible. Before you start looking for the perfect land that fits all your needs, you must research for the best website that can help you fulfill all your needs. If you wish to buy government land for sale in US, research is what will take you there!
Timeline
The right type of Auction can make the process easier and more efficient. If you’re looking to buy a large plot or piece of property, an early-date real estate sale may be just what your business needs! You’ll have ample time to conduct research before taking out those bids; knowing when they take place and how long closing will last within such tight timelines means there won’t be any suspense at all about whether this purchase is good for them or not.
Level Playing Field
Auctions are one of the most transparent forms of transactions because they operate with complete, open information. Buyers battle it out in an even field and compete on equal footing despite any influence or reputation that may be involved at either end – this is not always true for other types of sales where one party’s willingness to buy might depend upon who else he knows (or doesn’t).
Negotiations
The hassle of negotiating can drain your time, resources, and sanity. Going to governmental real estate auctions saves you from all that by ensuring the terms are known upfront! With the information provided in detail about every property on offer at an auction with due diligence packets for buyers who come prepared, they’ll avoid any surprises when purchasing land.
Options
The multi-property auctions allow buyers to see several offerings in one place and compare. When you plan on buying land at Auction, observing the bidding on a similar property may give your more insight into what is happening with the value of the home that is of your interest.
Price
In a friendly, competitive environment with the best real estate professionals in attendance, you will be able to arrive at true market value for your land. Bidding on properties can give buyers an inside view into how much people are willing to pay and when they may want that property – especially if it’s currently distressed or priced below what is considered normal. Thereby giving them more time ahead of the purchase decision and securing discounted prices based on current conditions rather than going through long, drawn-out negotiations and only getting discouraged before completing the deal because the seller didn’t budge one penny from the asking price!
It is important to determine the maximum price you are willing to spend on a property before starting an auction. Too often, people get caught up in competition with other bidders and end up overpaying for their land or home.
A Few Terms that you Should be Aware of
Absolute Auction: An absolute auction is a type of public sale in which the property for sale is offered to the highest bidder, with no minimum bid requirement. This term typically refers to an auction conducted by a third party that purchases and sells items on behalf of others.
The process begins when you submit your online bid for an item that’s up for grabs, just like any regular e-commerce transaction. However, unlike other bidding services where you can offer a price below what others have offered or withdraw your offer before the end of the auction period, Absolute auctions are not flexible.
Minimum Bid: To protect themselves from being taken advantage of, many sellers set a minimum bid price that guarantees at least the cost owed or prevents buyers from colluding to purchase properties below market value. Market value will be a matter of perception if the property is unique or otherwise tricky to price.
Government auctions are a great way to purchase land at affordable prices in many cases. You can find all sorts of properties, including raw land, farms, timberland, and more. If you wish to invest in government land, we hope that this blog was able to give you all the information you were looking for.
Irish housing estates are just lovely. Lots of green, space, cute houses and windy roads where kids are playing. They look like a perfect little village – the best place to raise a family with all modern comfort available. They are remarkable examples in many ways.
Most of these housing estates that fit this description are developed during the Celtic Tiger period. The “Celtic Tiger” is a term for the very successful Irish economy that emerged during the 1990s and reached its peak in 2000. Ireland made a remarkable transformation from a country of poverty to one of prosperity before the world economic crisis.
Remarkable design of Irish Housing Estates
It is outstanding that the Irish housing estates are designed in a way to promote safety, comfort and general wellbeing. This is achieved by introducing lots of curvy roads in the estates and have only one way in and out, avoiding fast traffic or having a lot of cars that would just pass through.
The houses are designed to the general liking – friendly and homy looking rather than modern. There are rules to implement public greens in the estate as well as dedicating a certain percentage of houses to an affordable living program. Like this also less fortunate families are integrated in the neighbourhood. By doing so, they are avoiding the development of poor neighbourhoods somewhere else that would come with a number of social problems attached.
The Celtic Tiger and the Real Estate Bubble
Image by Zotx on Pixabay
When Ireland’s growth began to slow down in 2007, there were many warnings that it would not be able to avoid the impending global recession.
In 2008, Ireland was hit by a severe financial crisis as its property market collapsed due to over-speculation and over-development. This is leading to a substantial rise in unemployment rates and substantial falls in wages.
Simply explained, the property bubble started due to a real estate shortage. That’s why many property developments were initiated, that lead to shortage of workers. As more workers were needed, many foreigners came to Ireland to work, who also needed housing… Slowly but surely this was blowing up the bubble.
As a result of the 2008 crisis, high unemployment rates lead to people leaving the country or in case of foreign workers, they would return to their home country. Therefore, no more housing was needed and Ireland was left with a situation of over-development.
How the Irish Government dealt with the Property Bubble
Successfully addressing the housing and property market in Ireland has been a major challenge. That’s why NAMA comes to play.
NAMA is the National Asset Management Agency of Ireland. Set up in 2009, they take on some of the burden of loans from Irish banks. They try to address the financial crisis that Ireland experienced in 2008. The main role of NAMA was to take on some of the burden of bad loans from Irish banks. Also, they try to address the financial crisis that Ireland experienced in 2008.
NAMA purchases assets from financial institutions for cash or bonds, aiming to reduce lending risks for banks and other financial institutions.
We Can Learn From The Irish Housing Estates
We can learn a lot of lessons from the Irish abandoned housing estates. It is important to keep in mind that these developments are still wonderful homes where people live. They will do so for decades to come.
What happened to the Irish housing estates is a good example to study further when it comes to urban planning decisions.
