by Paul la Vella
Houses and ski apartments in Andorra, second only to Monaco in popularity among Europe's tax havens, have risen consistently over the last decade by an average of ten per cent a year, and in the last two years by over fifteen per cent.
But a lack of snow and tourists in December and January has stopped the rise in its tracks, according to Andorra property companies.
'We normally seen an influx of buyers from the first week of December through to mid April who want to buy ski apartments, but it has been very slow this year,' they comment, adding 'It's been an unusual ski season as there was next to no snow between December and mid January. A lot of tourists, some of whom end up buying a property in Andorra, delayed their visit or went elsewhere.'
Andorra has unusually high demand for property as there are three streams of buyers:
An active local market, international buyers looking for residency in a tax haven that offers residents a zero rated tax rate, and second home buyers looking for Andorra skiing holiday property.
And it is the second home buyers, mainly for ski properties, that has seen the Andorra property market stopped in its tracks - for six weeks at least.
One of the highest rises in recent years was the 19 per cent increase in property values in 2005, with the 2006 increase expected to be not far behind at around 15 per cent.
Andorra Real Estate
As well as being a top ski destination, Andorra is also a tax haven, with many people moving to the country to benefit from her income tax free status.
Buying a property in Andorra is often seen as a route to residency, which entitles people to live in Andorra and benefit from her tax haven status.
To obtain residency in Andorra, applications need to be submitted in Catalan. A notarised copy of the applicants passport, birth certificate and a certificate of good conduct from the home country are submitted at the same time. According to a local travel guide residency normally takes between three and six months to be approved.
Once residency is granted, residents are supposed to spend six months a year in Andorra, but this isn't policed.
One of the drawbacks for those looking to become a resident in a tax haven when considering Andorra has been that the country has no airport of its own, and is unlikely to have ine future given that it is located in the Pyrenees. The nearest airports are Barcelona and Toulouse.
Recent improvements in the road from Barcelona to Andorra though have cut the travelling time by some thirty minutes to two hours fifteen minutes.
'Given the tax advantages Andorra has', note the Andorra guide, 'A two and a quarter hour trip to the nearest international airport could be viewed as a small price to pay for those who will be saving substantial amounts of money in tax.'
About the Author
YourAndorra is a travel guide for Andorra, and includes hotels in Andorra, the ski resorts, late deals for Andorra holidays , a map, how to get to Andorra, and the latest Andorra weather
Wednesday, May 30, 2007
Tuesday, May 8, 2007
Euro Ski Slump Turns Andorra Family Friendly For 2008 Season
by Paul la Vella
European ski holiday country Andorra has transformed her holiday image over the last 20 years from a 'poor man's Switzerland' to a fully functional ski country able to compete with other European countries during the December to April European ski season.
So successful has the transformation been that nearly ten million tourists visit the country each year, with a blip this year after later than normal snow fall.
And for next year's ski season Andorra has opened a new family friendly ski park in Arinsal, moving away further still from her old image of a cheap and cheerful ski holiday for 18-30 year olds to one that caters well for all.
The snow park includes a conveyor belt and a game zone, designed to give children confidence before they ski and use the chair lifts.
Well known ski villages in Andorra include Soldeu and Ordino as well as Arinsal.
Other new developments in Andorra for the 2007 ski season include a 540 space underground car park in La Massana close to the cable car, and an extension of the beginners area in Arinsal.
Commenting on the new facilities, an Andorra travel guide claims that the investment in Andorra's infrastructure is ongoing, and will allow Andorra to compete with other ski areas in Europe for years to come.
Looking Forward
As well as being a top ski destination, Andorra is also a tax haven, with many people moving to the country to benefit from her income tax free status.
Property prices have risen dramatically over the last ten years, and according to Andorra real estate specialists two bedroom apartments now start from around 250,000 Euros.
Buying a property in Andorra is often seen as a route to residency, which entitles people to live in Andorra and benefit from her tax haven status.
To obtain residency in Andorra, applications need to be submitted in Catalan. A notarised copy of the applicants passport, birth certificate and a certificate of good conduct from the home country are submitted at the same time. Residency normally takes between three and six months to be approved.
Once residency is granted, residents are supposed to spend six months a year in Andorra, but this isn't policed.
One of the drawbacks for those looking to become a resident in a tax haven when considering Andorra has been that the country has no airport of its own, and is unlikely to have in the future given that it is located in the Pyrenees. The nearest airports are Barcelona and Toulouse.
But recent improvements in the road from Barcelona to Andorra though have cut the travelling time by some thirty minutes to two hours fifteen minutes.
'Given the tax advantages Andorra has', note the travel guide, 'A two and a quarter hour trip to the nearest international airport could be viewed as a small price to pay for those who will be saving substantial amounts of money in tax. Especially when you consider that their properties could be rising in value quite significantly in the years to come, and for those who like skiing it's a holiday and tax haven rolled into one.'
About the Author
For more details about Andorra, including the Soldeu ski resort, hotels and expedia ski holidays visit YourAndorra.com
European ski holiday country Andorra has transformed her holiday image over the last 20 years from a 'poor man's Switzerland' to a fully functional ski country able to compete with other European countries during the December to April European ski season.
So successful has the transformation been that nearly ten million tourists visit the country each year, with a blip this year after later than normal snow fall.
And for next year's ski season Andorra has opened a new family friendly ski park in Arinsal, moving away further still from her old image of a cheap and cheerful ski holiday for 18-30 year olds to one that caters well for all.
The snow park includes a conveyor belt and a game zone, designed to give children confidence before they ski and use the chair lifts.
Well known ski villages in Andorra include Soldeu and Ordino as well as Arinsal.
Other new developments in Andorra for the 2007 ski season include a 540 space underground car park in La Massana close to the cable car, and an extension of the beginners area in Arinsal.
Commenting on the new facilities, an Andorra travel guide claims that the investment in Andorra's infrastructure is ongoing, and will allow Andorra to compete with other ski areas in Europe for years to come.
Looking Forward
As well as being a top ski destination, Andorra is also a tax haven, with many people moving to the country to benefit from her income tax free status.
Property prices have risen dramatically over the last ten years, and according to Andorra real estate specialists two bedroom apartments now start from around 250,000 Euros.
Buying a property in Andorra is often seen as a route to residency, which entitles people to live in Andorra and benefit from her tax haven status.
To obtain residency in Andorra, applications need to be submitted in Catalan. A notarised copy of the applicants passport, birth certificate and a certificate of good conduct from the home country are submitted at the same time. Residency normally takes between three and six months to be approved.
Once residency is granted, residents are supposed to spend six months a year in Andorra, but this isn't policed.
One of the drawbacks for those looking to become a resident in a tax haven when considering Andorra has been that the country has no airport of its own, and is unlikely to have in the future given that it is located in the Pyrenees. The nearest airports are Barcelona and Toulouse.
But recent improvements in the road from Barcelona to Andorra though have cut the travelling time by some thirty minutes to two hours fifteen minutes.
'Given the tax advantages Andorra has', note the travel guide, 'A two and a quarter hour trip to the nearest international airport could be viewed as a small price to pay for those who will be saving substantial amounts of money in tax. Especially when you consider that their properties could be rising in value quite significantly in the years to come, and for those who like skiing it's a holiday and tax haven rolled into one.'
About the Author
For more details about Andorra, including the Soldeu ski resort, hotels and expedia ski holidays visit YourAndorra.com
Friday, May 4, 2007
Arizona Real Estate: Looking For Paradise - Try Arizona's Valley
By Reg Gustin
Always Entertaining – Always Fun – Great Place to Live Arizona has become a Mecca for anyone looking for opportunity – whether it’s a chance to find a great job, a nice home, enjoy beautiful weather, or an opportunity to partake in the amazing scenery, there’s something for everyone. Arizona has seen a phenomenal growth in population over the past decade. Arizona attracts millions of visitors each year, and as these visitors realize the unique opportunities in Arizona, they come back to stay.
Arizona has grown into quite the entertainment capital. If you like professional sports, you’ll find lots of options in Phoenix. There are professional sports teams for baseball, basketball, football, Women’s basketball, even hockey. Arizona is also the sight of spring training for a number of professional baseball teams. For the true baseball fanatic, there’s nothing more fun than taking in several preseason baseball games, while also getting a little sun and breaks from dreary winter.
Arizona is a golfer’s paradise. With over 325 golf courses you can find a tee time whenever you’d like. In fact, Arizona has 100 golf courses that are rated as some of the best courses in the world. There are two tournaments sponsored by the PGA and LPGA each year. Golf tournaments are a major draw for tourists. Of course, one of the prime draws to Arizona is the incredible natural environment. Not only can you count on incredible sunny days, but you have some of the most scenic, unsurpassed parks in the world. Arizona, the Grand Canyon state, offers truly spectacular vistas, with opportunities, to hike and rock climb.
Arizona is a little bit like Brigadoon – visitors fall in love with the open beauty, the incredible weather, the friendly people and the endless choices of entertainment. As a result, the population just keeps skyrocketing. And real estate sales are keeping pace with the influx of people. In fact, Arizona may see steady increases in home prices, but it still represents one of the most affordable places to live. For families that have been priced out of the home market in other parts of the country, Arizona can be a haven. New home buyers are finding homes that are not only affordable, but that their money goes further than ever. You’re able to more house for your money than almost any other major metropolitan area.
Central Arizona offers visitors and residents a great deal of diversity. The population of the area is diverse and balanced. There are many employment opportunities for highly educated and for blue collar employees and lots in between. This valley might not be the land of milk and honey, but it certainly offers people a rare opportunity to own a home, start a new life, find amazing career and live in an area that offers great diversity and entertainment.
Reg Gustin is a senior loan officer with Sun American Mortgage and specializes in helping families and their financial lending needs. Click here and get a free copy of The Greater Phoenix Area Housing Appreciation Report, as compiled by Arizona State University with your free subscription to his monthly ezine, Arizona Fun Facts.
Always Entertaining – Always Fun – Great Place to Live Arizona has become a Mecca for anyone looking for opportunity – whether it’s a chance to find a great job, a nice home, enjoy beautiful weather, or an opportunity to partake in the amazing scenery, there’s something for everyone. Arizona has seen a phenomenal growth in population over the past decade. Arizona attracts millions of visitors each year, and as these visitors realize the unique opportunities in Arizona, they come back to stay.
Arizona has grown into quite the entertainment capital. If you like professional sports, you’ll find lots of options in Phoenix. There are professional sports teams for baseball, basketball, football, Women’s basketball, even hockey. Arizona is also the sight of spring training for a number of professional baseball teams. For the true baseball fanatic, there’s nothing more fun than taking in several preseason baseball games, while also getting a little sun and breaks from dreary winter.
Arizona is a golfer’s paradise. With over 325 golf courses you can find a tee time whenever you’d like. In fact, Arizona has 100 golf courses that are rated as some of the best courses in the world. There are two tournaments sponsored by the PGA and LPGA each year. Golf tournaments are a major draw for tourists. Of course, one of the prime draws to Arizona is the incredible natural environment. Not only can you count on incredible sunny days, but you have some of the most scenic, unsurpassed parks in the world. Arizona, the Grand Canyon state, offers truly spectacular vistas, with opportunities, to hike and rock climb.
Arizona is a little bit like Brigadoon – visitors fall in love with the open beauty, the incredible weather, the friendly people and the endless choices of entertainment. As a result, the population just keeps skyrocketing. And real estate sales are keeping pace with the influx of people. In fact, Arizona may see steady increases in home prices, but it still represents one of the most affordable places to live. For families that have been priced out of the home market in other parts of the country, Arizona can be a haven. New home buyers are finding homes that are not only affordable, but that their money goes further than ever. You’re able to more house for your money than almost any other major metropolitan area.
Central Arizona offers visitors and residents a great deal of diversity. The population of the area is diverse and balanced. There are many employment opportunities for highly educated and for blue collar employees and lots in between. This valley might not be the land of milk and honey, but it certainly offers people a rare opportunity to own a home, start a new life, find amazing career and live in an area that offers great diversity and entertainment.
Reg Gustin is a senior loan officer with Sun American Mortgage and specializes in helping families and their financial lending needs. Click here and get a free copy of The Greater Phoenix Area Housing Appreciation Report, as compiled by Arizona State University with your free subscription to his monthly ezine, Arizona Fun Facts.
Thursday, April 12, 2007
Lake Havasu Luxury Real Estate
By Jennifer Bailey
The weather in Lake Havasu makes it perfect for luxury real estate properties. In most months, temperature ranges from 60-120 degrees during daytime and 40-50 degrees during night.
In 1997, when the population of Lake Havasu City in Arizona was at 40,000, the luxury real estate industry there reached a total of 40 establishments and a total of 85 employees.
Annual payrolls of these employees reached as much as $1,288 each. Real estate lessors, on the other hand, reached a total of 16 establishments with 22 employees.
Prices of houses located on golf courses in Lake Havasu have steadily increased. In 2003, houses were sold for around $300,000. A year after, the price increased by as much as 24%. Last year, the prices rose some more. In the first quarter of 2005, the asking price was $440,000. Two quarters after, it reached $470,000. The latest records show that the price of houses located along golf courses has ballooned to almost half a million.
On the other hand, the price of golf course lots started at $129,080 in 2003. In 2004, that price increased by more than $20,000. For the past year, the prices of such real estate properties reached its peak after the second quarter when it grew to $230,000.
Today, the real estate market has become a buyer's market. This was caused by the increase in the number of properties for sale. Builders are now pressured to come up with better products. Lake Havasu has attracted more luxury real estate investors.
Luxury estate investors usually work with real estate agents to find the best properties for sale. Agents help them find the best builders. The whole process can last from seven months to one year. Part of the guarantee of most agents is that the price of the buyer?s investments will steadily increase in years to come. They can, indeed, rake in a lot of money in a few years.
Lake Havasu provides detailed information on Lake Havasu, Lake Havaus Spring Break, Lake Havasu City, Lake Havasu Homes and more. Lake Havasu is affiliated with Lakefront Property For Sale.
The weather in Lake Havasu makes it perfect for luxury real estate properties. In most months, temperature ranges from 60-120 degrees during daytime and 40-50 degrees during night.
In 1997, when the population of Lake Havasu City in Arizona was at 40,000, the luxury real estate industry there reached a total of 40 establishments and a total of 85 employees.
Annual payrolls of these employees reached as much as $1,288 each. Real estate lessors, on the other hand, reached a total of 16 establishments with 22 employees.
Prices of houses located on golf courses in Lake Havasu have steadily increased. In 2003, houses were sold for around $300,000. A year after, the price increased by as much as 24%. Last year, the prices rose some more. In the first quarter of 2005, the asking price was $440,000. Two quarters after, it reached $470,000. The latest records show that the price of houses located along golf courses has ballooned to almost half a million.
On the other hand, the price of golf course lots started at $129,080 in 2003. In 2004, that price increased by more than $20,000. For the past year, the prices of such real estate properties reached its peak after the second quarter when it grew to $230,000.
Today, the real estate market has become a buyer's market. This was caused by the increase in the number of properties for sale. Builders are now pressured to come up with better products. Lake Havasu has attracted more luxury real estate investors.
Luxury estate investors usually work with real estate agents to find the best properties for sale. Agents help them find the best builders. The whole process can last from seven months to one year. Part of the guarantee of most agents is that the price of the buyer?s investments will steadily increase in years to come. They can, indeed, rake in a lot of money in a few years.
Lake Havasu provides detailed information on Lake Havasu, Lake Havaus Spring Break, Lake Havasu City, Lake Havasu Homes and more. Lake Havasu is affiliated with Lakefront Property For Sale.
Friday, March 23, 2007
Panama Real Estate for Ex-Pats
by Andrew Cowan
Living in Panama, you run into a lot of Americans. We seem to frequent the same restaurants, live in the same neighborhoods and seem to find second homes at the one or two "gringo" bars that Panama City hosts. In meeting all of these ex-pats you start to see patterns. The biggest one I've noticed is a reoccurring trend of the same vague occupation. It usually surfaces along these lines:
"What are you doing down here?"
"I work in real estate."
Really? Are you a developer? An agent? Do you own your own real estate? Do you like to look at picture of real estate? Are you a buyer? Do you have buyers in the States?
"What does that mean?"
"Oh, I do various things related to the real estate industry here in Panama."
I've learned to nod my head and mumble something along the lines of "that's nice". Is there a need for all of these Americans down here working in "real estate?" Looking around, I would say yes.
Panama City right now looks like the floor of a child's room Christmas morning after he just got twenty Erector Sets. I can't wait to meet the American who answers my question with, "I'm a self erecting crane salesman." Ka'ching! That guy can buy the bar a round.
These half completed apartment and condominium projects are everywhere. Thanks to the lax zoning laws here in Panama, or their lack altogether, you'll find cement trucks cruising down residential streets, headed to the new development next to the Panamanian equivalent to Home Depot.
Pick up any real estate magazine here and you will find ads for more real estate projects than anything else. I sat down and counted 56 ads for real estate companies and associated services, many of them full page, in a 98 page Panama lifestyle and travel magazine. The ads are all in English, targeting Americans, and for companies that are run by or employ the real estate professionals I seem to meet everywhere I go.
But why Panama?
Panama is a real estate paradise for the savvy investor. With many Americans looking offshore for investments, a country that is a 3 hour flight from Miami, stable, uses American currency, and along with beautiful tropical beaches and untouched coastlines, contains the only real first world city in Central America, looks great. Developers see it. Investors see it. Panamanian real estate is booming.
The number one clients for these realtors are Baby Boomers. They are starting to retire, the kids are out of the house and they are looking at buying a second home or moving out of the country. That pension check goes a lot farther when a nice sit-down lunch will run you $5.00 and your local bar is selling fifty cent beers.
The Panamanian government is doing their part to entice foreign investors. Tax breaks can be found for houses, condos and land. Most recently built houses and apartments qualify for a 19 year tax exemption and if you are looking at purchasing land, plant some teak trees on it and benefit from a reforestation exemption.
You may be wondering what all that nonsense you just read was. Who wrote this? What does he do? And I'll tell you,
"I work in real estate."
About the Author
Andrew Cowan works in Panama with a Panama Real Estate Company as well as Panama Travel a lot.
Living in Panama, you run into a lot of Americans. We seem to frequent the same restaurants, live in the same neighborhoods and seem to find second homes at the one or two "gringo" bars that Panama City hosts. In meeting all of these ex-pats you start to see patterns. The biggest one I've noticed is a reoccurring trend of the same vague occupation. It usually surfaces along these lines:
"What are you doing down here?"
"I work in real estate."
Really? Are you a developer? An agent? Do you own your own real estate? Do you like to look at picture of real estate? Are you a buyer? Do you have buyers in the States?
"What does that mean?"
"Oh, I do various things related to the real estate industry here in Panama."
I've learned to nod my head and mumble something along the lines of "that's nice". Is there a need for all of these Americans down here working in "real estate?" Looking around, I would say yes.
Panama City right now looks like the floor of a child's room Christmas morning after he just got twenty Erector Sets. I can't wait to meet the American who answers my question with, "I'm a self erecting crane salesman." Ka'ching! That guy can buy the bar a round.
These half completed apartment and condominium projects are everywhere. Thanks to the lax zoning laws here in Panama, or their lack altogether, you'll find cement trucks cruising down residential streets, headed to the new development next to the Panamanian equivalent to Home Depot.
Pick up any real estate magazine here and you will find ads for more real estate projects than anything else. I sat down and counted 56 ads for real estate companies and associated services, many of them full page, in a 98 page Panama lifestyle and travel magazine. The ads are all in English, targeting Americans, and for companies that are run by or employ the real estate professionals I seem to meet everywhere I go.
But why Panama?
Panama is a real estate paradise for the savvy investor. With many Americans looking offshore for investments, a country that is a 3 hour flight from Miami, stable, uses American currency, and along with beautiful tropical beaches and untouched coastlines, contains the only real first world city in Central America, looks great. Developers see it. Investors see it. Panamanian real estate is booming.
The number one clients for these realtors are Baby Boomers. They are starting to retire, the kids are out of the house and they are looking at buying a second home or moving out of the country. That pension check goes a lot farther when a nice sit-down lunch will run you $5.00 and your local bar is selling fifty cent beers.
The Panamanian government is doing their part to entice foreign investors. Tax breaks can be found for houses, condos and land. Most recently built houses and apartments qualify for a 19 year tax exemption and if you are looking at purchasing land, plant some teak trees on it and benefit from a reforestation exemption.
You may be wondering what all that nonsense you just read was. Who wrote this? What does he do? And I'll tell you,
"I work in real estate."
About the Author
Andrew Cowan works in Panama with a Panama Real Estate Company as well as Panama Travel a lot.
Friday, March 9, 2007
Real Estate Exchange Tips
Exchange is a program that allows the owner of a certain property that is used for investment to be exchanged with another property and defer paying the taxes. If the like-kind property is purchased, the rules and regulations of the Internal Revenue Code should be followed and observed. This will allow the investors to gain more assets, have a large control over real estates and expand into other properties. The like-kind property is only recognized if the exchange is for the purpose of productive use like in the business or trade industry and investment. The like-kind property can consider these for investment:
- Duplex- Commercial Property
- Single Family Rental
- Apartment
- Raw Land
1. Understanding Exchange
There are some points to understand regarding exchange. Here are some tips to guide you with the exchange process. It is important to know the basics of the process. A lot of people are confused about the exchange procedures. If you are new to it, perhaps you won’t understand it that well too. You can ask a professional about the terms and conditions that are unclear. Exchange process is not taken for granted because it has proper guidelines to follow.
If you are not aware with the exchange process, you can read books or if you are that interested, you can attend seminars that focus on exchange. They should be able to show how to deal with an exchange. If you want to be an expert in exchange, you should know a lot of important information and instructions. Exchange procedures may get complicated but it is important to be familiarized with it. It is not that easy that even the well-experienced investors and professionals avoid the exchange process because of its complexity. Exchange is considered profitable because you if you are an investor, you can still recover the earnings you have lost.
2. Who performs the exchange process?
- Real estate agents- Accountants- Attorneys- Escrow companies
In the earlier years, real estate agents were the ones who specialize in the exchange process. They were the ones who handled exchange matters because they were able to master the important instructions and information of the process.
3. Faciliation Companies
If you want to perform exchange, it’s not really necessary to know all the dos and don’ts. All you need to do is to call an exchange facilitator to advise you throughout the process. Most exchanges are handled by facilitation companies. They are in charge of resolving problems that may soon take place. Complete with the contacts of competent facilitation companies, you are sure to triumph the pursuit to financial independence. This will no longer be a problem. The exchange process is considered an exchange between two parties. Most of the exchanges are the considered to be delayed exchanges. In less than 45 days, they must then be able to identify the possible replacement property after the closure of the property.
4. Who Can Exchange?
In order to qualify for an exchange, you are required to provide some important papers. The Exchanger should sign a written document that is mailed or sent to the person who is obliged and concerned in the exchange. This is very essential in order to successfully qualify for an exchange. All information of the replacement property should be ambiguously stated including the type of property in the personal property exchange.
You must be prepared for your first exchange. You should be able to locate a good exchange facilitation firm with a nice background. You should choose agents who can do the process accordingly and not act as if they know the whole process perfectly. When it comes to pricing, the fees will vary on the services.
The rate is from $500 to $1,200. Once you notice that your facilitator can handle the exchange process well, you can take his advice. You can ask for copies of your documents that will be useful as reference by your attorney. It is important to find a good facilitator because time is important and investigation will take a long process but can be cut short if it is handled properly. Take note of these reminders in order to successfully apply or understand the fundamentals and applications of exchange.
By: Trevor Marshall -For more great real estate related articles and resources check out www.1031exchangehq.com
- Duplex- Commercial Property
- Single Family Rental
- Apartment
- Raw Land
1. Understanding Exchange
There are some points to understand regarding exchange. Here are some tips to guide you with the exchange process. It is important to know the basics of the process. A lot of people are confused about the exchange procedures. If you are new to it, perhaps you won’t understand it that well too. You can ask a professional about the terms and conditions that are unclear. Exchange process is not taken for granted because it has proper guidelines to follow.
If you are not aware with the exchange process, you can read books or if you are that interested, you can attend seminars that focus on exchange. They should be able to show how to deal with an exchange. If you want to be an expert in exchange, you should know a lot of important information and instructions. Exchange procedures may get complicated but it is important to be familiarized with it. It is not that easy that even the well-experienced investors and professionals avoid the exchange process because of its complexity. Exchange is considered profitable because you if you are an investor, you can still recover the earnings you have lost.
2. Who performs the exchange process?
- Real estate agents- Accountants- Attorneys- Escrow companies
In the earlier years, real estate agents were the ones who specialize in the exchange process. They were the ones who handled exchange matters because they were able to master the important instructions and information of the process.
3. Faciliation Companies
If you want to perform exchange, it’s not really necessary to know all the dos and don’ts. All you need to do is to call an exchange facilitator to advise you throughout the process. Most exchanges are handled by facilitation companies. They are in charge of resolving problems that may soon take place. Complete with the contacts of competent facilitation companies, you are sure to triumph the pursuit to financial independence. This will no longer be a problem. The exchange process is considered an exchange between two parties. Most of the exchanges are the considered to be delayed exchanges. In less than 45 days, they must then be able to identify the possible replacement property after the closure of the property.
4. Who Can Exchange?
In order to qualify for an exchange, you are required to provide some important papers. The Exchanger should sign a written document that is mailed or sent to the person who is obliged and concerned in the exchange. This is very essential in order to successfully qualify for an exchange. All information of the replacement property should be ambiguously stated including the type of property in the personal property exchange.
You must be prepared for your first exchange. You should be able to locate a good exchange facilitation firm with a nice background. You should choose agents who can do the process accordingly and not act as if they know the whole process perfectly. When it comes to pricing, the fees will vary on the services.
The rate is from $500 to $1,200. Once you notice that your facilitator can handle the exchange process well, you can take his advice. You can ask for copies of your documents that will be useful as reference by your attorney. It is important to find a good facilitator because time is important and investigation will take a long process but can be cut short if it is handled properly. Take note of these reminders in order to successfully apply or understand the fundamentals and applications of exchange.
By: Trevor Marshall -For more great real estate related articles and resources check out www.1031exchangehq.com
Thursday, March 1, 2007
Ecuador - A Booming Real Estate Market
By Michael Russell
Ecuador is a country where you can live surrounded by unparalleled beauty, whether it be in the ancient colonial cities of the Sierra, the tranquil Valley of Longevity, the exotic Amazon rainforest, Ecuador's beautiful and natural coastline, or the mystical and unique Galapagos Islands.
But it's also a country where you can live on the smallest of incomes. In Ecuador you can still find pristine beachfront lots for under $12,000, antique colonial homes for under $25,000 and peaceful mountain retreats for under $50,000. You'll pay almost no taxes and enjoy one of the most non-intrusive and non-regulatory governments in the civilized world.
Nestled in the jagged Andes Mountains, it is home to a large portion of the world's wildlife and bird species, as well as a staggering array of different landscapes and climates. There's truly something here for everyone.
Ecuador's real treasure, however, is its people. It's one of the few places where a foreign resident or visitor can blend easily into the community, being welcomed into a new circle of friends and a new way of life with relative ease. As a foreigner here you'll be treated with respect and the people will be proud to get to know you.
During the last 5 years, Ecuador has gone through a number of tumultuous changes, including the recent ousting of a president in 2005. But today's Ecuador has emerged as a country which remains a haven for those wanting to retire or invest and gives every sign of retaining a stable government. The landscape of the market has changed, but there are plenty of areas where significant property bargains can be found and a comfortable lifestyle can be enjoyed on just a fraction of what you'd spend in much of the world.
Today, you can buy a two-bedroom condominium in Quito's historic center, close to good shopping, gourmet restaurants and hotels, for under $55,000 and a one-bedroom for just over $25,000. Quito's antique Spanish colonial homes in need of restorations start at around $30,000. While there are good buys all over the country, the best buy right now in the property market is unquestionably the purchase of old Spanish colonials in Quito's historic center. The city is in the process of restoring the old colonial center, something which caused property values to rise rapidly in Cuenca and Guayaquil upon completion. Yet the tremendous value found in these irreplaceable antique homes-some in the $25,000 to $50,000 range-has not yet been recognized by the Ecuadorian investors.
A two-bedroom apartment in Cuenca's colonial historic center a block from the main square just sold for $34,000 and a beautiful one-bedroom apartment can be rented in Cuenca's most luxurious neighborhood-directly on the Tomebamba River-for just $250 per month.
Maid service costs around $120 monthly and construction workers still earn around $200 per month. At the market, you'll find handmade fisherman sweaters for less than $10 and leather jackets for under $50. Even if these prices doubled they would still be cheap.
Low prices alone do not make an ideal retirement or investment destination. There are plenty of places the world over where you can buy cheap land and find a 50-cent cup of coffee-but you wouldn't want to live there. Not so in Ecuador.
Here you'll enjoy a quality of life that's hard to beat and an experience in living that you won't get anywhere else. If you enjoy the outdoors, have dreamed of owning a Spanish Colonial home in a World Heritage site, or want to spend hours strolling on an undeveloped beach, then Ecuador may be for you.
As you may know, Ecuador survived the Latin American financial meltdown of 2002, in part because of a stability factor that came from adopting the US dollar as the official currency. The formerly high inflation rate came in at 3.9% in 2004, same in 2005 and it's on track to be about the same in 2006. There are no foreign-exchange controls and no restrictions on foreign-owned businesses. You can repatriate 100 percent of your profits.
The other hot area at this writing is the village of Vilcabamba in Ecuador's southern Sierra. Enjoying near-perfect year 'round weather and dramatic mountain scenery, it is called Ecuador's Valley of Longevity. Here a two-story traditional Ecuadorian house with five bedrooms on 2.5 acres with lots of fruit trees and a fresh water source that provides fresh water year-round, sold this year (2006) for $60,000.
Michael Russell
Your Independent guide to Real Estate
Ecuador is a country where you can live surrounded by unparalleled beauty, whether it be in the ancient colonial cities of the Sierra, the tranquil Valley of Longevity, the exotic Amazon rainforest, Ecuador's beautiful and natural coastline, or the mystical and unique Galapagos Islands.
But it's also a country where you can live on the smallest of incomes. In Ecuador you can still find pristine beachfront lots for under $12,000, antique colonial homes for under $25,000 and peaceful mountain retreats for under $50,000. You'll pay almost no taxes and enjoy one of the most non-intrusive and non-regulatory governments in the civilized world.
Nestled in the jagged Andes Mountains, it is home to a large portion of the world's wildlife and bird species, as well as a staggering array of different landscapes and climates. There's truly something here for everyone.
Ecuador's real treasure, however, is its people. It's one of the few places where a foreign resident or visitor can blend easily into the community, being welcomed into a new circle of friends and a new way of life with relative ease. As a foreigner here you'll be treated with respect and the people will be proud to get to know you.
During the last 5 years, Ecuador has gone through a number of tumultuous changes, including the recent ousting of a president in 2005. But today's Ecuador has emerged as a country which remains a haven for those wanting to retire or invest and gives every sign of retaining a stable government. The landscape of the market has changed, but there are plenty of areas where significant property bargains can be found and a comfortable lifestyle can be enjoyed on just a fraction of what you'd spend in much of the world.
Today, you can buy a two-bedroom condominium in Quito's historic center, close to good shopping, gourmet restaurants and hotels, for under $55,000 and a one-bedroom for just over $25,000. Quito's antique Spanish colonial homes in need of restorations start at around $30,000. While there are good buys all over the country, the best buy right now in the property market is unquestionably the purchase of old Spanish colonials in Quito's historic center. The city is in the process of restoring the old colonial center, something which caused property values to rise rapidly in Cuenca and Guayaquil upon completion. Yet the tremendous value found in these irreplaceable antique homes-some in the $25,000 to $50,000 range-has not yet been recognized by the Ecuadorian investors.
A two-bedroom apartment in Cuenca's colonial historic center a block from the main square just sold for $34,000 and a beautiful one-bedroom apartment can be rented in Cuenca's most luxurious neighborhood-directly on the Tomebamba River-for just $250 per month.
Maid service costs around $120 monthly and construction workers still earn around $200 per month. At the market, you'll find handmade fisherman sweaters for less than $10 and leather jackets for under $50. Even if these prices doubled they would still be cheap.
Low prices alone do not make an ideal retirement or investment destination. There are plenty of places the world over where you can buy cheap land and find a 50-cent cup of coffee-but you wouldn't want to live there. Not so in Ecuador.
Here you'll enjoy a quality of life that's hard to beat and an experience in living that you won't get anywhere else. If you enjoy the outdoors, have dreamed of owning a Spanish Colonial home in a World Heritage site, or want to spend hours strolling on an undeveloped beach, then Ecuador may be for you.
As you may know, Ecuador survived the Latin American financial meltdown of 2002, in part because of a stability factor that came from adopting the US dollar as the official currency. The formerly high inflation rate came in at 3.9% in 2004, same in 2005 and it's on track to be about the same in 2006. There are no foreign-exchange controls and no restrictions on foreign-owned businesses. You can repatriate 100 percent of your profits.
The other hot area at this writing is the village of Vilcabamba in Ecuador's southern Sierra. Enjoying near-perfect year 'round weather and dramatic mountain scenery, it is called Ecuador's Valley of Longevity. Here a two-story traditional Ecuadorian house with five bedrooms on 2.5 acres with lots of fruit trees and a fresh water source that provides fresh water year-round, sold this year (2006) for $60,000.
Michael Russell
Your Independent guide to Real Estate
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