Protecting Your home

Archive for the ‘Real Estate’ Category

Real Estate in Lebanon has experienced some severe contrasting periods. In the early 90′s, the real estate sector pulled up the entire economy through intensive programs of reconstruction set by the government and other private institutions. New buildings were popping up across the whole country.

This positive impact of the real estate sector on the Lebanese economy was challenged during the last few years. The vast majority of residential buildings that were constructed during the last ten years were aimed at high-end customer’s level coming mainly from the Gulf, while internal demand was oriented towards medium standing apartments and properties. Since the external demand, mainly coming from Arabs in the Gulf region was increasing in volume, this has led to a sharp increase in real estate prices. This is not anymore the case especially for the last couple of years. The external demand has stabilized adding to that the government endorsement of laws limiting the percentage of properties that can be sold to foreigners. The real estate market is not flooded by liquidity as it was the case few years ago, and prices are expected to stay stagnant at least for the coming two to three years. Many positive signs are emerging in this period.

The real estate sector is being managed now by more professional institutions. This represents a major switch for this industry where traditionally families run mainly this sector. The best illustration is that investors are now conducting market research and feasibility studies prior to actual constructions. This was not the case 10 years ago.

Another positive sign is the return of international investors to downtown Beirut. Virgin, Ericsson and almost all financial institutions in the country have their headquarters there. The major effort that has been made by the country to attract investors is now bearing fruit.

This success is not surprising; Lebanon has many benefits for large corporations. Its location makes it an ideal gateway to the Middle East and the quality of life can meet the expats’ expectations and facilitates their implementation.

Beyond that, the banking laws are favorable for foreign companies wishing to locate in the region. The future may be considered as promising. Several major projects are now under construction. In Beirut downtown, a chain reaction is expected and which can be explained as follows: the more the number of multinational companies move to downtown Beirut, the more the multinational companies will want to locate their offices there. This is not just applicable to the city center; this fact also affects the surrounding neighborhoods.

The real estate market in Lebanon has experienced as well a dramatic rise in terms of the investments that have been injected into it. These investments come from Arabs, expatriates, and foreign investors.

Across the whole Arab region, the real estate sector in Lebanon has received the majority of Arab and foreign investments with a big boost in demand on the it properties in Lebanon.

The real estate market in Lebanon was the primary recipient of all Arab investments and constituted 80 percent of such investments.

Beirut, once considered the “Pearl of the Orient” is now ranked the most expensive city in the Middle East and Africa, ahead of Dubai, Istanbul and Johannesburg.

Today’s news really gives us mixed signals about the real estate market. Some say real estate is flourishing and some say that it continues decline. The fact of the matter is that there are quite a few angles from which you can view the real estate market. It isn’t simply prices and loan rates, as most people like to report. It’s much deeper than that.

One important angle, and the focus of this article, is that real estate ought to be looked at through a regional perspective. Even in a city, each neighborhood has its own characteristics. Some neighborhoods have families that have lived in their homes for more than 20 years, other neighborhoods have homes that are owned by investors, others have young families just moving in… you get the picture. Because each neighborhood is so diverse, the general outlook of the city’s perspective may not do justice to the individual gems that are hidden within it. Not all neighborhoods have foreclosures or short sales, or other transactions that could reduce the property value of the neighborhood. A little bit of research, or the help from your real estate agent, can help you determine the state of your neighborhood, or a neighborhood into which you would like to move.

Shifting one’s perspective on the regional market outlook can make a huge change in how one perceives the market, as a whole. Keep in mind that despite all that doom and gloom that we are hearing about real estate, transactions continue to occur. First time home buyers are taking advantage of home and loan pricing, and open houses continue to grab the attention of many prospective buyers; from investors to homeowners to home upgraders. People are upgrading from smaller homes to larger homes. By that same token, some folks are moving from larger homes to smaller homes, as they age and look for more simplicity.

There are plenty of reasons that people buy or sell a home. Despite the market, these reasons still exist, and dreams of home ownership continue to be fulfilled. What we hear quite a bit of in the media is how housing starts are low and how people are losing their homes, and the media is coinciding home losses with the lack of home sales. Economically speaking, when a homeowner loses the home, that is one less home that needs to be built, right? So, if many people are losing their homes, then it follows that there is no need to build more homes, as the inventory is still full. That does not, however, mean that home sales have stopped. Make no mistake about it. In some areas of the United States, real estate is going strong. Admittedly, in other areas of the United States, real estate is not doing too well. Again, this goes back to a regional perspective of real estate.

Another aspect that the media focuses on is pricing, and that will be the subject matter of our next article.

With a few quick and easy home projects, you’ll learn how you can save energy in your home without spending a lot of money.  With these simple tips, you’re sure to make your home feel warmer without having to turn up the heat this winter.

1.    Create a simple draft snake by simply rolling up a bath towel and placing under a drafty door.  This quick and easy tool will help to eliminate drafts and keep heat in.

2.    Replace or clean your furnace filters once a month.  Dirty filters prevent proper airflow which increases the demand for energy.

3.    Run your fans in reverse.  Most fans these days come with a handy little switch that can reverse the flow of air.  Switching the rotation to clockwise will actually help to make your home warmer.  As you know, heat rises.  By reversing your fans rotation, air that has become pooled near the ceiling will be circulated back into the living space which can help to cut your heating costs by 10%.

4.    Turn down your water heater to 120 degrees Fahrenheit.  This simple task can help to reduce your water heating costs by 10%.

5.    Try installing storm doors and windows.  This can help to increase energy efficiency by 45% since it helps to seal in drafts and reduce air flow.

6.    Just like your car needs periodic tune-ups, the same is true for your heating equipment.  Maintaining a clean furnace that is lubricated and properly adjusted will help to reduce your energy use by 5%.

7.    Fix and or prevent air leaks around window frames by using caulking and weather striping.  This will help to lock in heat during the winter and prevent cool air from leaking during the summer.

8.    Consider boosting your home’s insulation.  It’s one of the best ways you can save energy and money while keeping your home warmer during winter and cooler during summer.

9.    Insulate your pipes to help prevent your water pipes from freezing and to help decrease your hot water bill.

For more great information on simple ways you can help to improve the efficiency of your home, get in touch with Able Restoration.  Able Restoration has years and years of experience in the water damage field.  If your home or business has been damaged by water or is in need of mold remediation.  Visit their website at www.AbleRestoration.net today.

Property escrow is a type of closing procedure in which a deed is delivered with a grantor to an escrow agent who is directed to provide the deed to a grantee when specified the weather is met. These specified conditions are more often than not contingent on the purchasing amount being delivered to the agent.

An escrow closing is different from a regular closing only for the reason that the buyer and seller do not ever need to meet in person. Another elements, a written contract, delivery of deed, and delivery of payment, are done in the same way as within conventional closing. The agent managing escrow acts as a go between for the buyer and seller for a small fee.

Whenever a buyer and seller enter a real estate escrow transaction, they enter into a contract, in which a specific amount of cash is paid for any specific bit of real estate. The two parties then appoint an agent for escrow, such as a bank. Real estate escrow process could also be used to switch deeds to property.

There are many advantages and disadvantages to escrow closings. If an individual owns lots of property and they’re constantly buying and selling property as part of a company, then an escrow agent is very convenient. The agent attends all of the meetings, presents offers and counter offers, and lastly performs the actual transaction, all while the buyer and seller never need to meet.

The escrow transaction includes a higher rate of success because an independent third party has been doing the transaction. This protects both the buyer and the seller from each one changing their mind. Obviously, this could be also a disadvantage if at the last second the vendor discovers something more useful for the home than ever before known, such as oil or other valuable natural resources.

For a real estate escrow to become valid, there has to be a legitimate deed, an enforceable contract, delivery, as well as an escrow agent. A deed is valid if it’s executed properly, abides by all local and state laws, and it is ready to be surrendered when the agent managing escrow has obtained the money. The deed doesn’t have to incorporate the name since the escrow agent may write it in at any time. An enforceable contract is generally a purchase agreement.

Without the purchase agreement, either party can stop the transaction anytime. There also should be an itemized memorandum for the contract to adhere to the statute of frauds. Delivery is a term used with the escrow process. Upon first delivery, the vendor presents the deed to the escrow agent. The property is not sold at this point, but the seller is indicating that they’re ready to achieve this from there forward.

Delivery in the truest feeling of the term doesn’t happen before the seller is no longer able to recall the deed. Lastly, an escrow representative is required for the escrow transaction to happen. They ought to be a really independent 3rd party prepared to hold both the seller and buyers assets until the other party is ready to provide theirs. An escrow representative is involved in a fiduciary relationship, for the reason that he or she must act in accordance with the purchasing agreement.

You will find laws in position if the escrow agent take the property they are holding and use it for themselves. This could constitute as fraud in addition to larceny. In the event that the agent managing escrow embezzles the money or the property, the party that would have suffered the loss after the transaction must bear the loss.