Monthly Archives: November 2020

Hard Money Lenders in Los Angeles and the Real Estate Market

Los Angeles remains a very attractive market for those who can afford it. The California Association of Realtors reports that home prices in Los Angeles have increased 6.1 percent this year to date and are projected to show a 6.5 percent gain for all of 2015. Meanwhile, in Los Angeles County, prices are reported to have shot up 5.4 percent so far this year. These figures include detached and attached single family homes and duplexes. Century City Real Estate Report says that some L.A. luxury neighborhoods have already passed the 2007 peak. This situation makes a wonderful market for hard money lenders, since many investors are rearing to buy, but they are leashed by miserable credit ratings and credit histories. Shunned borrowers turn to hard money lenders in their area who hand them the funds based on their collateral.

Here is the Los Angeles real estate data for 2015-2016

The California Association of Realtors projects sales figures of 407,500 single family homes by the end of 2015. This will be an increase of 6.3 percent over the homes sold in 2014. Projections for 2016 are also for a 6.3 percent increase to a predicted 433,000 units next year.

In Los Angeles, some data sources, such as the California Association of Realtors, show that the median sales prices for single family homes and condos shot up 8.1 percent to $950,000 for the 2015 third quarter; a record high for the Greater L.A. area. Regions include Westside, Downtown and coastal cities like Malibu, but omit low-priced areas such as South L.A..

One way to understand real estate price cycles is to look at the building permit numbers. If developers are investing in new properties, as has been happening in the general Los Angeles area, it is a good sign that demand, and prices, are rising or keeping steady. Statistics shows a growth of 2.4 percent in building projects.

Observers are concerned that Los Angeles may be approaching another housing bubble, but William Yu, Economist for the UCLA Anderson School of Business strongly negated this prediction in a recent UCLA Anderson Forecast. Prices have shot (he said) in an already expensive L.A market only because of excessive demand and limited supply. This is no housing bubble but a hugely pricey and unaffordable situation where those with money either do, or would like to, invest. In fact, the market is mostly catering to the very wealthy. Typical reports show that builders and investors are looking to the high-end luxury market where potential profits far exceed the profit that an investor can realize from the average priced home. This kind of high-end residential development needs investors who have the right kinds of funds. Some individuals go to the banks for their loans. Other approach alternate traditional lending institutions.

What about those without money? Or with poor credit who are unable to procure a loan?

This is where hard money lenders come in.

Los Angeles hard money lenders

The Los Angeles money lending directory shows 56 hard money lenders and the listing grows all the time. Experts in the field know that there are many more who are listed in other places or remain unlisted. These (and other) brokers lend their personal funds to residential and commercial borrowers. The hard money lenders ignore the credit history and FICO scores of these borrowers focusing instead on the value of their collateral. If the borrower defaults, the lender sells his property as repayment.

Many investors rush to hard money lenders for their speedy turn-around (typically less than a week) and for the simple and easy procedure (merely a few papers and a handshake). They detest the high interest rates (double to those of the banks) and the low ratio-to-value loans (sometimes as low as 60%-50%). Many borrowers tend to get hard money loans for the immediate short-term future and then repay with bank loans or cover the rest with alternate funding. Hard money loans are expensive so most borrowers try to use them for as short a time as possible.

The Los Angeles hard money brokerage is diverse and vast. You will find lenders dabbling in all sorts of deals and lending to a variety of investors. Lenders also offer varying sums and for varying amounts of time. Since lenders work independently – after all, it is their own funds that we are speaking about – they set their own terms and schedules. If you go that route, make sure your lender is certified by the L.A. regulatory real estate Board and by the National Mortgage Licensing System (NMLS). Also look into his credentials and borrowing history. And best of all: have an attorney review all agreements before signing.

The bottom line is this…

The Los Angeles rising prices and tight inventory have driven more investors to the high-end market. Investors have run out of flips but there is a wider market for the higher-paying population or for wealthy foreigners. This type of inventory drives prices higher and is expected to shoot them higher still over the coming years as there is scanty new construction in the pipeline to meet demand.

For those in LA who want to make the most of this luxury market but lack the funds to do so, employing a hard money lending broker may be a feasible solution. This type of broker ignores the credit history and focuses on the asset. Luxury assets seem to have high potential. If the borrower can show the broker his ability of repaying and convince him of the value of his property, the borrower may be able to find an alternate means of landing a spot in LA’s luxury market.

The California Association of Realtors predicts that home prices will likely “grow steadily” in the end of 2015 into 2016. Many investors in Los Angeles are approaching hard money brokers to fund their immediate needs. How does this solutions sound to you? Feasible?

Residential Apartments in Gurgaon

Gurgaon is a teeming and bustling township with high rises and offices of multi-corporations. When catering to this large group of corporate and expatriates which have migrated to work in India, residences are a big facility which companies have invested in. This influx of white-collared, well-heeled clientele has given rise to new breed of builders and construction companies which sell on the theme of luxury rather than affordability. Along with commercial real estate, residential real estate has zoomed and grown by leaps and bounds. Residential apartments in Gurgaon are a seeming luxury for outsiders and an evil necessity for the residents owing to the sky-rocketing rentals.

The craze and curiosity is so loud around these uber-luxury apartments that IMRB has conducted research on top luxury residences to check on the effectiveness of all this luxury.

Some of the famous names in luxury in Gurgaon are – Hamilton Court, The Laburnum, The World Spa, Aralias, Raheja Atlantis, Gurgaon One, Wellington Estate, DLF Park Place, Belvedere Towers, Orchid Petals, Jal Vayu Towers, The Close North, Vatika City, Ridgewood Estate and Sispal Vihar AWHO Society.

Apart from the residences for uber-rich, upper middle class also has a wide variety of apartments to choose from. Seeing the rush, the government has also come out with the affordable housing schemes in Gurgaon with the obvious drawback that these apartments will be in new locations which probably have less connectivity right now.

Rents for good 2 bhk will start anywhere from Rs 20,000 to no limits, depending upon the sector preference, amenities in the apartment complex and proximity to necessities. Builders are trying to build the housing complexes into a complete township with even entertainment options and necessities such as malls, theatres, schools, hospitals.

Gurgaon residences have become a big investment asset in the kitties of many ultra-rich with even though with high EMIs, the rental increase is making these buildings very profitable for their owners. Designer custom made apartments such as in Huda Plots, DLF, Sushant Lok, South City and Sohna road are the prime locations.

After all this hype and hike in prices, people have had to resort to shelling out high premiums to builders for getting bookings done in the affordable housing category. Haryana government is working on streamlining the booking process and making it transparent on the internet portal.

The biggest issue in Gurgaon housing has been lack of civic amenities such as drainage and piping which was an issue even with high rises where waste would not disposable. Other issues are power cuts and crime rate.

Gurgaon, also known as the Millenium City is expected to have around 2,500 multi-storey towers by 2018. With poor local transportation and an average flat costing Rs 75 lakhs, affordable housing seems like a dream in Gurgaon. For Gurgaon to not just remain a luxury and Richie rich destination, government will have to pro-actively work to make the wheels turn and resolve complications for affordability.

Cyprus Luxury Villas in Larnaca Offer Great Value

The lush port town of Larnaca lies on Cyprus’ south-eastern coast. Cyprus luxury villas in Larnaca are perfectly situated for the enjoyment of high-end boutiques, a variety of restaurants, and extensive cultural charm. Especially charming is Larnaca’s famous fortress castle. If you would enjoy a luxurious lunch at the foot of the castle, try Megalos Pefkos for some superb seafood.

In days gone by, Larnaca was the number one trade town for the island of Cyprus. In the early 1900s, however, Larnaca conceded the title to Famagusta, then Limassol. This is good news for the hundreds of tourists who now cruise the quieter waters off Larnaca in holiday yachts. People buy homes in Cyprus for its beauty and luxury, which are both excellent reasons to purchase Cyprus luxury villas in Larnaca.

If you have the good fortune of spending your summers in Larnaca you will most likely spend a great deal of time in the city’s central promenade. Kataklysmo, or the Festival of Food, is hosted in the promenade. For Kataklysmo, and other summertime festivals, holidaymakers will rent Cyprus luxury villas in Larnaca This makes Larnaca a wise location in which to buy or sell Cyprus property.

As a matter of fact, most of Larnaca’s popular sights are in or near the town’s centre. The Kitium ruins are probably Larnaca’s most famous destination for holidaymakers. Today, the city of Larnaca stands in place of ancient Kitium, which now exists only in its fascinating ruins; a must see for any history buff. Also worth seeing is one of Larnaca’s natural wonders. From November through late March, Larnaca Salt Lake plays host to hundreds of colourful flamingos; just one more reason to look for land in central Larnaca when you buy or sell Cyprus property.

All of Cyprus is known for its beaches, but Larnaca boasts an incredible stretch of sandy coastline about 25 kilometres long. Larnaca’s McKenzie and Phinikoudes beaches are both blue flag winners. Cyprus luxury villas in Larnaca located on the beach, make for an excellent property investment, and should be considered whether you plan to buy or sell Cyprus property, or to buy homes in Cyprus.

If sightseeing and sunbathing are not on your to-do list, you can be sure there is even more to do in Larnaca Larnaca is home to two football teams, the ALKI Larnaca FC, and the AEK Larnaca FC. Both teams play out of Larnaca’s Zenon stadium. If you prefer to play, hit the beaches for sand and water sports, and check Larnaca’s community calendar for daily events.

Larnaca International Airport makes Larnaca a very convenient destination. Whether you are planning a trip, or just looking for the dream holiday home, make plans to visit Cyprus and have an estate agent show you around the Cyprus luxury villas in Larnaca And, one final reason to buy in Larnaca is the price. Larnaca property prices tend to be lower than in much of the rest of the island!

The Easy Way to Own Your Townhome

Buying a luxury town home is something that most of us dream of but only a few can afford. However, there are ways by which almost anybody with a decent income can afford to buy a town home. Many town homes are available on lease with options to buy and that makes it easier to buy your own town home – you don’t feel the pinch in your wallet.

Most of these developers offer a lease and a lease with option to buy. While you lose your ownership of the town home at the end of the stipulated period when you take it on lease; for lease with option to buy a part of the monthly payment is adjusted towards the cost of the town home and by the end of the stipulated period you can pay off the entire price of the town home and own it forever.

This is probably the easiest method to buy a luxury town home and there are several reasons to stand for it.

Bad Credit History: It is often difficult to get a loan if you are having a bad credit history or even if you have taken a loan with your good credit history any failure in debt repayment can get you a bad credit history. Lease with option to buy actually helps to avoid such situation. As the payment is relatively low it is easier for the buyer to make payment. Also the buyer gets the duration of lease period to make up / repair any bad credit history.

Saves from Inflation of Home Price: At the time of agreement the buyer and the seller agrees on a fixed price for the home. It is often observed that real estate price appreciates very fast and by the end of the lease period the price of the home might be higher than the previously agreed price. This becomes a major advantage for the buyer as he still gets the home at previously agreed price and has the option to sell it off at the appreciated value.

Try Before Buy: On a lease with option to buy, the buyer gets to stay in the home during the lease period and this helps him to understand if he is comfortable in that home. At the end of the lease period he goes for the purchase option if he is comfortable with staying in that home.

Low Maintenance Cost: The buyer do not need to pay the maintenance cost during the lease period, it is born by the seller. The buyer just pays the lease amount. This becomes a substantial saving over the entire lease period. After the buyer finally takes the ownership of the home then he starts paying the maintenance charges like repair, insurance and property tax.

These days increasing number of realtors and developers are offering lease and lease with option to buy for luxury homes and townhomes. Reputed companies like Mocking Bird Properties are also offering townhomes for lease in Plano Texas. This is high time you take advantage of this easy lease with option to buy method to get your own townhome.

Rent Control to Be Removed for Smaller Properties

Mumbai is denying the luxury of buying a new property by having exorbitantly priced real estate. Most of the population living in Mumbai either live of houses that have been bought well before the prices went sky high or are living under rent or the Pagadi system. The Pagadi system is an ancient system of rent followed in Mumbai from the time of the 2nd World War. It is very much similar to the rent system prevailing globally but the only difference is that the tenant also becomes a part owner of the land!

The system protects the tenant more than the traditional renting system does. The landlord will not be able to evict the residents easily and the tenant is entitled to sell the house! The tenant is entitled to the house but not the land. The house can be sold to a new tenant for a percent of the capital value and a percentage of the money made goes to the tenant while the majority is given back to the owner. The tenant pays a nominal amount as rent to the land owner! Banks do not support this system of renting or buying a house, understandably!

This system causes a lot of legal issues especially for the landlord who has to go through a long, painfully cumbersome process should he choose to evict a tenant. Also, the Rent Control Act had protected the tenants who pay a fixed rent and also their right to the property rented by the Pagadi system is passed on through inheritance!

However, the Maharashtra state government has now decided that it will no longer include residential properties smaller than 500 sq ft and commercial properties smaller than 800 sq ft under the Rent Control Act. This will directly affect the Pagadi residents of Mumbai who have been residing for years now in the rented houses! Nariman Point and Marine Drive, two of the most costly real estate spots in Mumbai are dotted with Pagadi properties. It is estimated that a total of 52,000 people still live under Pagadi!

This comes in as a good news for landlords who will now have the power to enforce rent based on the capital value and taxes. It will also empower the landlords to move people out if they are not able to pay the property taxes that the government is looking to levy.

Though in a sense it seems that the unfair balance against the landlords have come to an end, it has to be noted that many of these Pagadi residents have also paid huge sums of money to their landlords already and asking them for more would put them in a tight spot. The solution would be for landlords to take the remaining money and register the property in the name of the tenants.

The residents of South Mumbai will be the most affected by the change in the legalities since many properties are under the Pagadi system.

Canada’s Romantic Hotels

There is romance to be found in the great north. Canada is a country full of majestic scenery in its many lakes, and rivers, mountains and forests, and wonderful cosmopolitan areas. There are many hotels that stand out either for their history and beautiful surroundings, or for their luxurious accommodations and amenities in the midst urban sophistication. Either of these scenarios make these hotels a perfect setting for a romantic interlude to not be forgotten.

The Wedgewood Hotel and Spa, Vancouver, British Columbia

The Wedgewood Hotel and Spa, located on Vancouver’s chic Robson Square, is a romantic European boutique-style hotel. Privately owned and operated, it is smaller and more intimate than some other local hotels. All of the 83 luxurious rooms at the Wedgewood feature private balconies and beautifully crafted plush furnishings. You can relax at the spa and fitness centre, which carries the renowned Epicuren cosmetic line. The Award-winning restaurant Bacchus offers outstanding dining with live entertainment nightly and is known for its exceptional weekend brunches and afternoon tea. The Wedgewood Hotel is close to many attractions in Vancouver, and there is no shortage of activities to choose from. Suites and romance packages are available.

Chateau Lake Louise, Lake Louise, Alberta

Discovery Travel voted Chateau Lake Louise as one of the ”World’s Top 10 Honeymoon Hot Spots” and did so for a very good reason. The scenery is breathtaking and the hotel is grandiose. Chateau Lake Louise is surrounded with snow-frosted Rocky Mountain peaks and secluded next to a legendary lake. The Fairmont Chateau Lake Louise has a full range of newly renovated rooms and elegant suites featuring either a mountain or lake view, with facilities befitting one of the world’s finest mountain resorts: award-winning cuisine in eight restaurants and lounges, and a gallery of unique boutiques to shop at. Your adventure starts right outside the Chateau’s doors. You can go hiking, canoeing, mountain biking, fly fishing, horseback riding, skiing and snowshoeing (depending on the season of course!). Or you can kick back and relax in the spa, indoor pool or hot tub.

Windsor Arms, Toronto, Ontario

Step through the Gothic inspired doorways and you will find a luxurious, two-storey lounge, richly panelled in dark oak and offering 26 suites and two luxury rooms across four floors of this deluxe boutique hotel. Located centrally in Toronto in the upscale Yorkville area, this discreet small luxury hotel offers guests Toronto’s only caviar and champagne lounge, a dance and live entertainment club, a luxury spa and an indoor pool, complete with poolside fireplace and gourmet restaurant. Traditional tea is served at 1:30pm and 3:30pm daily. Shopping and entertainment are only steps away.

The Marriot Niagra Falls Fallsview and Spa, Niagra Falls, Ontario

We all know that Niagra Falls is one of the honeymoon capitals of the world. Something about those majestic falls inspires the romantic side in couples. A room with a view is a must in this location and this new luxury property boasts that it’s the closest hotel to Niagara Falls. The hotel has 427 Fallsview guestrooms overlooking Niagara Falls. The Deluxe Fallsview Fireplace and Whirlpool Suite is an intimate Suite featuring a King sized bed, a large 2-person Whirlpool and a fireplace. This suite is located on one of the hotel’s higher floors, and offers an extraordinary view of both the Canadian and American Falls.

Chateau Montebello, Montebello, Quebec

Nestled in the midst of a private 65000 acre estate, Le Chateau Montebello is located on the shores of the Outaouais River, halfway between Ottawa and Montreal and is a great place to get away from it all. This resort opened in 1930 as a private club and became a hotel in 1971. A legendary log chateau, being the largest log-cabin in the world, the hotel is an idyllic four-season resort offering a wide range of indoor and outdoor activities including: curling, cross country skiing, skating, dog-sledding, snow-shoeing, and sleigh rides in the winter and boating, fishing, jet-skiing, lawn games, outdoor swimming, tennis, and an 18 hole golf course. Jacuzzi suites and romance packages are available.

Chateau Frontenac, Quebec City, Quebec

This is a magnificent castle-like structure with copper turrets and stone towers, Fairmont Le Chateau Frontenac is over 100 years old and a historic landmark of Quebec City. Situated on top of the Cap Diamant Cliffs in the heart of the old walled-in city, Le Chateau Frontenac overlooks the St. Lawrence River and provides some great views. Romance packages are available for any of the beautifully furnished 618 guestrooms and suites. There are exquisite restaurants, an elegant, beautiful bar and a more casual veranda bar. The Chateau also has many upscale boutique shops, art galleries, a florist and hair salon. There is also an on-site indoor pool and fitness center. When do venture out, a stay at the Chateau Frontenac permits you easy walking access to all of the wonderful sites and romantic experiences that Old Quebec has to offer.

The Casino Nova Scotia, Halifax, Nova Scotia

The Casino Nova Scotia is the only hotel located directly on the waterfront, in the heart of downtown Halifax. Guests enjoy convenient access via the walkway to Casino Nova Scotia, many boutiques, shops, restaurants, banks and entertainment hot spots. Casino Nova Scotia is located next door to the Hotel and offers you gaming, entertainment and restaurants. The hotel has two popular restaurants, with outdoor patios featuring a spectacular view of Halifax Harbour, offering an eclectic menu, two lounges, and an indoor heated swimming pool with a large modern fitness facility and full spa services. The rooms offer spectacular views of Halifax Harbour, Historic Properties, the city, or of the courtyard. . The Casino Nova Scotia offers full Concierge services, where sightseeing tours, Harbour boat ours, whale watching, deep-sea fishing, golf and other activities can be arranged. One-bedroom suites or Luxury suites are available.

How To Make Your House For Sale Stand Out From The Crowd

People who can afford the luxury want their homes close to amenities that support their lifestyle. The proximity to the finest goods and services is part of the purchase decision. Your best potential buyers have an active social life and look for amenities such as high-end boutiques, museums, art galleries, concert halls, five star restaurants, catering, and spas.

If you are like most sellers, you want to get as much as possible for your home and you want to do it as quickly as possible. But of all of the houses in Short Hills New Jersey, how do you make your home the one everyone wants?

Make a Presale Investment

The more repairs and upgrades you make, the more attractive your home becomes to those looking at Short Hills New Jersey real estate.

Take an inventory of the features you have already and decide what investments you are willing to make to appeal to buyers.

Some homeowners add a fresh coat of paint to their home, which will bring life back into a fading color. Others repair or upgrade their lighting scheme.

Lighting is a tool any good upscale home design uses to the maximum effect. Natural light is, of course, extremely important and can be achieved with large windows, glass walls, and skylights. Turn on the lights and open the blinds and draperies to create a bright and inviting environment in your home. You want a soft romantic glow in the bedroom and as much light as possible in the exercise room. There are plenty exciting lighting ideas for every room of the upscale home.

The kitchen and bathroom are two of the main selling points to any home. Potential buyers of luxury New Jersey real estate, are looking for upscale kitchens.

These can be traditional, European, or contemporary.

The home buyer, these days, embraces the newer styles and delights in innovative materials for counter tops, better lighting with more elegant fixtures and colors. Darker wood tops can be punched up with touches of reds or citrus colors.

Buyers of luxury houses for sale in Short Hills New Jersey are looking for spacious bath with large showers and separate tubs. Marble or granite flooring, walls, and shower and tub enclosures are expected.

Outdoor Improvements

Make sure your home looks just as good on the outside as it does on the inside. Landscaping is very important and should enhance the curb appeal, style, and sophistication of the property. Your lawn should be cared for, flower beds must be maintained and any outdoor clutter must be removed.

Many upscale homes have fountains, waterfalls, and rapids in their pools to add focal points of interest.

Make sure the water in your pool is crystal clear and all outdoor furnishings are free of mold or dirt.

Finally

Entry ways of natural stone such as granite, marble, or, slate are very popular and give the home an elegant touch. Make sure this area is spotlessly clean and have a focal point such as a potted plant within the entry way.

The Energy Performance Certificate for Homes in Belfast, Northern Ireland

The EPCs are a legal requirement for houses in Belfast, Northern Ireland. In this article, epc-belfast provide details about who needs the EPC where they can be sourced.

An Energy Performance Certificate, or EPC, shows the overall energy performance of a building. The EPC determines the rating of energy efficiency as well as carbon emissions of a structure based on a letter scale from A to G. A means that the building is very efficient while G means that the building is not efficient.

Any dwelling EPC report will contain two ratings; the rating based on the current status and the potential rating, giving the homeowners an idea of what they need to do in order to reach standards.

EPCs are required for houses marketed for sale, for rent or even real estate auctions.

What do the Energy Performance Certificates show?

When a building is constructed in Northern Ireland, several methods will be used to determine the amount of energy that will most likely be used and then compare it with other buildings with similar construction. The information gathered helps prospective buyers of the home, the owners of the home, tenants, and anyone else occupying the home to see if the home is energy efficient or not.

When a report is complete, it will include recommendations, if any, to ensure that the building is energy efficient. The report will also include information about the different ratings that a home owner may want to consider in order to meet EPC regulations.

When is an Energy Performance Certificate (EPC) required?

EPC requires a permit when a building is in the process of being constructed or for buildings that may already be constructed but is preparing to be listed on the market for rent or for sale. Certificates must also be included on all commercial properties as well. The report will need to be available to potential buyers as well as potential tenants as soon as they make an inquiry regarding the building or come by to view it. It is up to the seller or the agent representing the owner of the house to ensure this information is provided.

EPC Belfast: What the Law requires

Because the EPC is required with all dwellings, if a homeowner or building owner does not have this report, a penalty charge notice will be issued through the northern Ireland district councils.

An EPC is valid for ten years and it can be used repeatedly throughout that period. The EPC can only be issued by an accredited energy assessor that comes to the property and performs an assessment. Once the homeowner has received the EPC for their dwelling, a copy of the certificate is sent to a national registry as well.

What are the penalties for not having an EPC?

The penalty for not having an EPC can vary depending on several factors. You can read more about penalties at Energy Performance Certificate Penalties. Some examples of penalties include:

Property in Northern Ireland not providing an EPC or not having the EPC on display can be fined up to £200 for a dwelling and £500 to £5,000 for any other type of property

Failure to obtain and possess a valid DEC advisory report, the penalty is £1,000

Failure to obtain and possess an air conditioning system inspection could cost you a penalty of £300