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(Selling investment properties) Buying Properties in Bulgaria

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By Richard Hewitt

 Before diving deep into real estate fiasco discussion let us first highlight some important basic information’s regarding Bulgaria. As you would know Bulgaria is located in southeastern Europe.

Bulgaria is situated in the east-central portion of the Balkan Peninsula, bordering the Black Sea. Covering an area of 42,823 square miles and is almost rectangular in shape. Its position makes it a natural crossroad between Europe and Asia.

Bulgaria has been noted as the third most popular world destination for property investment and holiday homes behind Spain and France. So what does buying properties in Bulgaria give you?

Aside from the scenic views and welcoming neighborhoods and sunny climate and broad sand beaches, Bulgaria also boasts a low cost of lifestyle living, it is so low that you can enjoy the same living status 30 years ago in the Mediterranean.

Bulgaria boasts an exceptionally diverse landscape with hundreds of kilometers of Black Sea coastline and some of Europe’s most promising ski resorts that are now providing indisputable competition to the more familiar locations in the Alps.

It is partly this remarkable diversity that has made Bulgaria such an attractive choice to property investors in recent years, with commercial investment similarly lucrative in winter, as it is in the summer months.

Part of the appeal is the fact that it is an emerging market and this has always proved to be an attractive factor for property investors looking for an exciting and potentially money-spinning challenge.

Another plus factor in buying properties in Bulgaria is the unification of Bulgarian to the European Union which is due in 2008. This is significant because it will be launching Europe’s first US style real estate investment trust or the REIT.

These trusts are tax-friendly property funds that have to pay out most of their income to shareholders. The aim is to broaden and deepen the real estate market.

Bulgaria’s finance ministry has opted to give up tax revenues in favor of persuading investors to accept professional management of real estate assets. Its REIT’s legislation, part of financial market reforms launched by a liberal government, is based on similar frameworks in the US and France.

Bulgaria’s fledgling REIT’s market is still too small to attract attention from big international players. But none the less REIT’s have become popular with Bulgarian pension and mutual funds, as well as increasing numbers of retail investors, according to local brokers.

National Statistical Institute or the NSI data published on October 21 showed that Bulgarian housing prices in the third quarter of 2005 rose by 2.9 per cent compared to the previous quarter of 2005.

The average housing price rose to 751.50 leva a sq m between July and September, up from 730.50 leva in the previous three-month period.

Bulgarian property is extremely good value and foreign investors may stand to profit substantially. In recent years, foreign capital has been a major component in the Bulgarian real estate boom.

Although there are admittedly other factors causing the boom such as the low interest rates, the continuous and intensifying flow of capital deserves the bulk of the credit.

The interest in properties in Bulgaria are steadily increasing and is expected to further increase as the impending acceptance of Bulgaria in the European Union draws near.

According to a Wall Street Journal report, Bulgaria registered the highest rise in its real estate prices more, than in any other country, with a staggering jump of 48 percent.

Property developers believe that the peak is yet to come as there are still many undiscovered places of beauty in Bulgaria as well as untouched property ready to make its first entrance into the property market.

Certain constitutional restrictions on foreign investment in Bulgarian property presented some impediments for inward investment. The Bulgarian Property Law was amended in July 2000 which removed such restrictions. The only requirement left was the registration of the investor or investing company in Bulgaria.

Bulgaria is a very good place to live or invest in and with its upcoming union with the to the UE or the European union this makes Bulgaria not just a good place to live in but a very safe place to invest.

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Real estate in Thailand

By Adam Stlean

 All teens simply adored the tale. And let each of us to tell different tales, but the basic elements in them still keep on constant - a fantastic kingdom, palace, princess and prince … Then we have matured, have engaged in older cases, and the magical world receded into the background. Although at heart each of us is a little faith in fairy tales and imagines to visit the magical country. Now your wish can be fulfilled in part - in fact on the ground there is a major place, as the Kingdom of Thailand. Yes, most real kingdom. But, in addition to the being there of the royal family, there is still an wonderful city, just magical beaches, unique culture of the local population and unlimited chance for leisure. Not for nothing because anyone who has ever been there will certainly come again and again. For real fans of this great country, but not only for them, there is one great suggestion - buy estate in Thailand. For those who are fond of vacations in this fairy-tale kingdom, it is better to be convinced - once spending money on buying a home, apartment or villa in the future, you can rest in Thailand anytime you want. You will not have access to the services of travel agencies, overpay a lot of money, depend on the plan for trips … But this is only a small part of the benefits that you can get, buying
real estate in Thailand. Because, among other things, it is also an excellent investment. Since the real estate market in Thailand can be called not only stable, but constantly developing. Demand for real estate does not fall, because the area of the country’s small - respectively, of free land for construction remains very little. Thus, even investing a huge amount of money in the Thai real estate, you risk nothing - at any time if the necessity arises, you can sell your property for a very good price. However, few owners want to sell such a bargain - in fact you can take your home or office space for rent. Rents in Thailand are quite high, which makes it promising to obtain high and stable revenue. At the same time, your property does not bring you extra trouble, because all the current issues related to the rental and maintenance of your property will focus on a special company-manager. So the tale is not so far from reality, as we thought!

Are You Buying a Home in Las Vegas?

By Richard Hewitt

 You have made the decision to make one of the largest investments you’ll ever make in your life-buying your first home in Las Vegas. You’re excited, but at the same time worried. Some of the questions you may be asking are: Will I be able to afford the home of my dreams? Do I have enough money for a down payment? Can I get a home inspected before I make an offer?

No need to worry. The home buying process in Las Vegas can be overwhelming, but if you go into it prepared, your first purchase can be a good experience.

Here are some things to you need consider before making the plunge.

Getting a mortgage - Fear of being rejected for a home loan is one of the main concerns for first-time homebuyers. To reduce the stress, you may want to get pre-approved for a loan before looking at prospective homes. This will not only help you feel more confident, it will also give you an advantage when there are multiple offers for a specific home. The fact that your loan has already been approved is of great value to the seller: because it shortens the purchase process and there is less of a chance that the buyer will back out of the sale.

Mortgage Payments - The costs involved in the purchase of a home can be overwhelming to first-time buyers. However, with the help of a real estate professional, you can calculate out how much they you are able to pay each month in mortgage payments, and from there, what prospective homes offer a feasible payment plan.

Be acquainted with an agreement with an agreement of purchase and sale and go over the clauses with your realtor. A verbal offer carries no legal weight at all - So be prepared to make an offer in writing.

Down-Payment - The down-payment amount varies depending on the value of the home you choose and your mortgage lender. And in some cases, first-time home buyers can purchase a home with no money down. Although it varies from state to state, most offer government-funded programs for first-time buyers that help people buy a home with no down-payment. Your real estate professional will be able to explain the different options available to you.

Closing Costs - First-time buyers often forget to consider the closing costs when making an offer on a home. Paying closing fees of up to 10 percent of the home sale amount is not unusual. Add that to the down-payment and you’ll have quite a sum to raise before the final papers can be signed. However, a smart first-time buyer takes this into account before making an offer, and with some professional help, the costs can be estimated in advance.

Making offers - Don’t feel pressured into making an offer on the first home you see. This is a common mistake of many first-time homebuyers. Make sure you view different homes to get a feel for the marketplace. When you do decide on a home to make a bid on, work with your real estate professional to get all of your questions answered first before making an offer. But don’t wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

Condition of the Home - Buying a “problem” home is another fear of first-timers. A home that needs major repairs can become a costly venture. And, unless the asking price is adjusted to reflect the hidden repairs needed, chances are the home is not worth as much as the seller is asking for it. To avoid untoward surprises, your real estate professional may advise you to hire a home inspector before making a serious offer. In that way, you know what you are getting into.

Above all- Make sure you understand and are comfortable with every aspect of the transaction. Your real estate professional can be an invaluable asset in helping you make educated decisions so that your first-home purchase in Las Vegas is a rewarding experience.

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Saturday, August 29th, 2009 at 2:31 am and is filed under realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.