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Real Estate Investment Ideas? New Search Advanced Search Hot Property The real story on real estate BLOGS Blogspotting Brand New Day Byte of the Apple Deal Flow Economics Unbound Fine On Media Hot Property NussbaumOnDesign Tech Beat BLOG RSS FEEDS About RSS Blogspotting Brand New Day Byte of the Apple Deal Flow Economics Unbound Fine On Media Hot Property Nussbaum On Design Tech Beat PREMIUM CONTENT MBA Insider ONLINE FEATURES Book Reviews BW Video Columnists Interactive Gallery Newsletters Past Covers Philanthropy Podcasts Special Reports TECHNOLOGY Product Reviews Startups Special Reports Tech Stats Wildstrom: Tech Maven SMALLBIZ Smart Answers Success Stories Today's Tip Trailblazing Companies INVESTING Annual Reports BW 50 S&P Picks & Pans Stock Screeners Free S&P Stock Report SCOREBOARDS Mutual Funds Info Tech 100 S&P 500/BW 50 B-SCHOOLS MBA Profiles MBA Rankings Who's Hiring Grads BW EXTRAS BW Digital BW Online Alerts Handheld Edition RSS Feeds Reprints/Permissions Conferences Investor Workshops BUSINESS DIRECTORY -- Find local experts in: « Cooling in California | Main | Land Sales Could Slow » October 28, 2005 Real Estate Investment Ideas? Peter Coy Every December, BusinessWeek publishes an investment guide for the year ahead. This year I'm doing the real estate story. Here's the question my editors want me to answer: Are there still any real estate bargains out there? What do you think? Any U.S. cities where house prices still have room to rise? ( Youngstown ?) Any countries where real estate is still relatively cheap? ( Germany ?) Condos feel kind of pricey lately, but are there still deals to be had? What about REITs? If you like REITs, which kinds? Name names, please. Remember, it's not enough to say that an investment costs less. You have to make the case that it's likely to go up in price and/or throw off a lot of cash in the next year. Be prepared to defend your choices because at least someone reading this blog is bound to disagree with whatever you say. I'm thinking of giving a prize to the Hot Property reader who comes up with the idea that works out the best over the next year. Let's say, either 100 acres of midtown Manhattan real estate or a paper crown labeled Real Estate Emperor. My choice. So ... send in those ideas and start arguing with each other. 04:56 PM Investing in Real Estate Trackback Pings TrackBack URL for this entry: http://blogs.businessweek.com/mt/mt-tb.cgi/ Listed below are links to weblogs that reference Real Estate Investment Ideas? : » Business Week posts "Hot Property" Real Estate Contest from Pacesetter Mortgage Blog Peter Coy, over at the Business Week Hot Property Blog, is posting a Real Estate Investment contest of sorts. His question is this, Are there still any real estate bargains out there? I will put my hat in the ring [Read More] Tracked on October 29, 2005 12:06 PM » The US Real Estate Market from Adam Dudley This article at Business Week Online caused me to post my thoughts about the US real estate investing market. With rising interest rates and a multitude of home owners using deadly interest only loans and ARM's in the US, there [Read More] Tracked on October 31, 2005 09:25 AM Comments how about being a contrarian, and invest in the tanking market. For example, buy puts or short homebuilders and the credit agencies that have the largest exposure. Posted by: bradley jellerichs at October 28, 2005 06:37 PM I'll start the brawling by saying that I'm pretty darn bullish on the Seattle market. My reasoning? It's the economy... With Boeing and Microsoft doing a wonderful job of holding down the fort, and a thriving start-up vibe (in real estate alone, there is Zillow, Redfin, and HouseValues), it seems like enough of the area residents will be flush with cash for the near future to keep prices rising. And while Seattle has definitely seen some growth in the recent past, things have never gotten out of control like they have in the Bay Area. Because I really want to win the 100 acres in Manhattan (or at least an Emperor crown!), I'll get a little more specific. I'd invest in a starter home (~$350K) in the Ballard neighborhood. Of course I'm only speculating, but I think that a home like this still has plenty of room to grow in the near future (i.e. one year). Posted by: Dustin at October 31, 2005 01:30 AM OK, so far I have Maricopa County, Ariz., and Seattle. I have "short the homebuilders." I also got a very intelligent email from someone suggesting a narrow segment of REITs--ones with low debt/equity ratios that get most of their income from leasing buildings to companies in healthy industry sectors. What else? Posted by: Peter Coy at October 31, 2005 05:23 PM First, I have put aside some cash ($50k) in my money market account. I also have on my current house a 15-Year fixed mortgage (50% loan-to-value) with really affordable monthly mortgage payment. Finally, I have no plan to move out for at least 5 years. Second, I opened an (still untapped) equity line of credit on my current home (200k, about half of the equity in my house). And now, guess who will be a major player in the foreclosure market in my county after the housing boom goes bust. Assuming a worst case scenario of a 25% decline in valuation in the years following the bust, my remaining equity stake will vanish but I compensated for that by buying $20,000 worth of premium on OTM put options (CTX Jan08 45 Put for example) on the 2 big home builders in my county. Posted by: the contrarian at October 31, 2005 11:04 PM The conventional wisdom is that "as interest rates rise, real estate values must decline, and so to must REITs." The problem with this CW is that it is too simple, and it doesn't take into account the wide variation in the various types of REITs out there. If rising interest rates and the risk of a "real estate bubble" is a concern, then it is possible to screen for REITs that minimize that risk. For example, if we look at REITs that have low debt/equity ratios and derive their income mostly from leasing properties to other businesses, those REITs will be less sensitive to land valuation and interest rates. These success of these REITs are more dependent on the segment they lease to, such as healthcare, retail, etc. I ran a screen looking for REITs with debt/equity ratio less than 0.5 and whose income is tied to leases. Some promising candidates include Universal Health Realty Income Trust (UHT). Leases out 43 medical buildings in the Southwest (where there are plenty of retirees and demand for medical services), has a debt/equity ratio of 0.23. Dividend yield is 6.5% and UHT has steadily increased their dividend over the years. A similar healthcare REIT is LTC Properties Inc. (LTC), with 200 senior long-term care facilities, a debt/equity ratio of 0.23 and a divident yield of 6.6%. Hospitality Properties Trust (HPT). Owns and leases hotel and motels to various national chains such as Courtyard by Marriott and Candlewood Suites. Debt to equity is 0.49. Has more debt than I'd like but income from operations has been increasing. Good dividend payer at 7.4%. Correctional Properties Trust (CPV). Leases out 12 prison facilites and has no debt, with a dividend yield of 6.5%. The leases are long-term and include rent increases tied to the CPI. Given the latest White House shenanigans this may be a real growth industry. Interestingly, there were no residential REITs that met my low debt criteria. Many of them have debt/equity ratios greater than one. I believe those REITs are to be avoided. Posted by: Jim in Calif at October 31, 2005 11:06 PM Ernest and Young's Steven Friedman told real estate editors at the National Assn. of Realtors annual convention that the best places to buy a condo in today's market are: Jacksonville, FL Austin, TX Boise, ID Friedman said his choices are based on job growth, affordability, and quality of life. Posted by: Frances Flynn Thorsen at November 1, 2005 06:14 AM Is land still a good buy anywhere? Great comment by Boe Clark about land over on the "Land Sales Could Slow" thread (justly accusing me of being vague). Here's what he wrote: The blogger speaks of land (improved and unimproved I assume), as if it were a homogeneous commodity. Prices are going down...in which markets? In Florida, Arizona, and Texas? Or in California and Colorado? In urban, sub urban, ag, commerically zoned, or residentially zoned land? 10 miles, or twenty miles, from population centers? In urban infill areas? With or without utilities/services? Generalities get us nowhere...specifics you can use to make prudent investment decisions with. Posted by: Peter Coy at November 1, 2005 10:36 AM Here's an Idea: Wait on the housing market and slowly move towards equities. There's some bet up stocks that could bought for a song. Posted by: Joe at November 3, 2005 01:27 PM It probably doesn’t bode well for the real estate market that there are not a lot of investment ideas! Posted by: Dustin at November 3, 2005 04:15 PM What about fixing up and renting or selling dilapidated properties in out-of-favor markets? Somebody in that business emailed me with that suggestion. Seems like it could be a good deal for people who don't mind supplementing their cash with elbow grease. Posted by: Peter Coy at November 3, 2005 06:00 PM Forget the US. Japan's real estate market is rip-roaring. Posted by: Taro Akasaka at November 3, 2005 11:15 PM 1. REITs holding a lot of mid level apartment buildings (where the former homeowners in CA will be moving once the number of foreclosures exceeds 100,000 in the state). 2. REITs specializing in self storage facilities. These units rent for the same price per square foot as apartments, but cost a fraction of the cost to build and maintain and are enormously profitable. Again, demand will soar as the number of foreclosures in CA exceeds 100,000. The number of foreclosures in CA WILL exceed 100,000 now that rates are rising and the I/O speculators and such will be driven out of the market as will so many first time buyers who have been sold these disastrous loans (half of buyers in San Diego and 2/3 of buyers statewide for the past 18 months). Posted by: Dave at November 8, 2005 06:58 PM Are we talking about investments (say 5-7% compounding growth over 20 years) or speculation (dreams of 100% inflation over 1 year)? I like the idea of getting a positive cash flow with 20% down and then watching 5-7% appreciation over 20 years. Summit County, Colorado, is 90 miles west of Denver and another mile higher. From 2001 to 2005, prices were flat, since demand equaled supply. Since January of 2005, demand has increased and prices are starting to climb sharply. Summit County has a great location, great weather, and spectacular scenery, yet is much less expensive than Aspen and Vail. To me it looks like a great bet. Posted by: DaveB at November 12, 2005 04:32 PM Bulgaria is the hottest real estate market in Europe. http://www.thepropertyinvestorsclub.co.uk/pic-bulgarian-property-investment.htm http://www.thepropertyinvestorsclub.co.uk/property-investment-tracker.htm http://bigpicture.typepad.com/comments/2005/06/global_real_est.html http://bbtbulgaria.blogspot.com Posted by: Dimitar Vesselinov at November 19, 2005 09:21 PM How about India; bungalos on the beach near major cities. Bocas in Panama? Or, Tibet, near Changdu. Those are my bets. Douglas Posted by: Douglas at December 12, 2005 02:55 AM Post a comment Name: Email Address: URL: Comments: Recent Posts New and Improved In 2006, a Harsher Reality for Realty A Gloomy Christmas for Real Estate? The Reflex Effect Wealthy Americans believe real estate to go up, up, up Recent Comments Cooling in California (6) Housing Numbers Continue to Surprise (9) Neg Am Mortgages (6) Taxpayer-backed mortgages for undocumented immigrants? (5) No mass exodus from the Golden State (12) Short Countrywide? (1) A Gloomy Christmas for Real Estate? (1) Washington DC bubble? (214) Riskiest housing markets (6) Wealthy Americans believe real estate to go up, up, up (2) Recent Trackbacks Wealthy Americans believe real estate to go up, up, up (1) More New Homes for Sale (1) A Fun Website for Checking Affordability (1) Impact of higher mortgage rates? (2) Making Sense of Average Mortgage Rates (1) A Less Curvaceous Yield Curve (2) The Westchester Tease (1) More Option ARMs and Alt-A Loans (1) Real Estate Investment Ideas? (2) Boston housing...on the rise???? (1) Categories Affordability Amey's adventures in real estate Bubbles Cali is Doomed Demographics Economy Estate Planning Foreclosures Home builders Housing Prices Investing in Real Estate Mortgage Rates Mortgages Real Estate Culture Refinancing Regions Remodeling Selling Archives December 2005 November 2005 October 2005 September 2005 August 2005 July 2005 June 2005 Subscribe RSS Feed
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Pittsburgh Real Estate Agent Thinking About Buying or Selling Greater Pittsburgh Real Estate? Our Mission: Yes Team Kane is Able to Help make your Pittsburgh real estate experience the very BEST! Remax Pittsburgh's Team Kane: Dave Kane , Jenn Kane and Mario Venneri We will find you the perfect home in Pittsburgh, PA. We focus on combining our energy, enthusiasm and honesty with the technology of RE/MAX Select to individualize every real estate transaction. We have helped countless homeowners looking to buy or sell Pittsburgh Real Estate. A closer look at Team Kane: Call Team Kane: 412-287-1173 Dave has always had a strong interest in the real estate industry; entering the business with high expectations in 1997. Education is a top priority for Dave. Therefore he immediately earned his Associate Broker license. As Dave continued his career in Pittsburgh real estate it was not long and he was recognized as a multi-million dollar producer and motivational asset to his company. It is Dave's personal goal to put his enthusiasm and energy into each Pittsburgh real estate transaction. for site scrapers -- Jenn is an extremely active native of Pittsburgh. She holds an undergraduate and graduate degree and spends a lot of time teaching group fitness classes. Recently she joined her husband Dave in the Pittsburgh real estate industry. Jenn's high energy and enthusiasm is sure to put a smile on her clients' faces! Along with Dave her goal is to provide ultimate service to each of their Pittsburgh clients - exceeding all expectations Together, Dave and Jenn Kane guarantee a positive Pittsburgh real estate experience. Pittsburgh Homes For Sale If your shopping for a new Pittsburgh home please check out our Pittsburgh homes for sale . We'll also email you every new home listed on the Pittsburgh MLS search for free! If you're planning selling Pittsburgh real estate contact us and find the advantange of Remax Pittsburgh. Pittsburgh Relocation Relocating to Pittsbugh can be an easy with Remax Pittsburgh by your side. See all that greater Pittsburgh has to offer relocating families here. And conctact us for all of your Pittsburgh relocation needs. Remax Pittsburgh Agent Mario Venneri Call Mario Venneri: 412-716-3922 View Mario's Current Listings Mario Venneri has been a licensed Realtor for over nine years and works with Remax's Pittsburgh Select Realty . Mario comes from a family of Pittsburgh real estate professionals who have done reputable business and strived to meet and create the housing needs in our suburbs for the past 50 years. The knowledge and experience that Mario has been able to gather as a result has been greatly beneficial in his ability to succeed in the Pittsburgh real estate business. Mario specializes in all facets of real estate including Pittsburgh new construction development and sales, first time home buyers, and existing buyer and seller transactions. Currently Mario is acting as site coordinator at a plan of townhouses in Imperial called Mystic Hills, and will be taking on the same responsibilities as site coordinator on a new patio home development in Chippewa coming soon. Mario's goal is to make every transaction a stress free and enjoyable experience from start to finish. You can contact Mario directly on his cellular phone at: 412-716-3922 Resources Add URL Real Estate & Mortgage Directory Texas Mortgage Georgia Mortgage Orlando Real Estate Pittsburgh Homes For Sale ~ Buying Vs. Renting ~ Pittsburgh Relocation ~ Pittsburgh New Construction ~ Pittsburgh Home Search ~ Pittsburgh Sell Your Home ~ Pittsburgh For Sale By Owner ~ Home Buying Basics ~ Our Community ~ Testimonials ~ Local Utilities ~ Consumer Notice ~ Mortgage Calculators ~ Mortgage Information ~ Home Buying Terms A-Z ~ Pittsburgh Weather ~ Pittsburgh Home Value Analysis ~ Pittsburgh MLS Search ~ Pittsburgh Schools Information ~ Remax Pittsburgh ~ Home Allegheny County Real Estate ~ Butler County Real Estate ~ Cheswick PA Real Estate ~ Cranberry Township Real Estate ~ Fawn Township PA Real Estate ~ Fox Chapel Township PA Real Estate ~ Frazer Township PA Real Estate ~ Glenshaw Township PA Real Estate ~ Hampton Township PA Real Estate ~ Indiana Township PA Real Estate ~ McCandless PA Real Estate ~ Natrona Heights PA Real Estate ~ Oakmont PA Real Estate ~ O'hara Township PA Real Estate ~ Pine Township PA Real Estate ~ Shaler Township PA Real Estate ~ Springdale Township PA Real Estate ~ Verona PA Real Estate ~ Wexford PA Real Estate Resources Real Estate Website Design - Mortgage Website Design © website design 2004
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-- Indymac Bank Construction Lending Indymac Bank home | about us | contact us | privacy | ID notice | security | careers 1-800-HCL-LOAN (425-5626) HCL for Individuals Main Page Get To Know Us Get Started Now! My Project Application My Loan Information Loan Products · Construction-to-Permanent Loan · Remodeler Loan · Bridge Loan · Lot/Land Loan Tools · Line Item Budget Calculator Find A Builder -- · Cost To Build Calculator -- Event Calendar -- Help · FAQs · Glossary Customer Service -- · Contact Us Lot/Land Loan Found the perfect location to build your dream home ...and now you need the perfect loan? Our Lot Loan is the right loan if you're looking to purchase a residential lot to build your primary residence or second home. Once you have purchased your land, you will have time to design your new home and choose a contractor. Best of all, Indymac Bank will fund your Construction-to-Permanent Loan once you're ready to build. · Loans to $500,000. -- Frequently Asked Questions Check to view all answers. Q. How do I know where I should build my home? A. Location may be one of the most important factors to consider. Although many people have a geographic location in mind, some are open to alternatives. It's important to consider your lifestyle (and those you'll be living with) as well as the cost. If you're planning a family, schools will be important. If not, you may want to consider other factors such as proximity to work, or accessibility to the beach, the mountains or leisure activities. Q. What is a "finished lot"? A. A "finished lot" refers to a portion of land that already has road access and utilities in place to the lot boundary. Additionally, it has been approved by the city or county as a separate parcel of land on a parcel map. Q. Can I buy a piece of land that is not a finished lot and save some money? A. While it may be possible to purchase an unfinished lot, generally this is not advisable for an individual building their own home. The costs of bringing roads and utilities to the first lot in a new area are usually very high. Typically, the first person to build pays for others who will build later. There are land developers who specialize in preparing lots for building (this may include zoning and/or soils issues, as well as bringing roads and utilities to the site, and creating a building pad). Often, these lots are in a planned community. Q. What do you mean by "planned community"? Aren't all communities planned? A. No, many older communities were not planned; they evolved. Certainly, as a city has grown, plans have taken shape. But in many cases the nucleus of a community was started many years before the community or city planning existed. In many instances, it is this unplanned characteristic that gives a community its charm. A planned community, in contrast, generally offers a specific style and certain amenities at a package price. Depending on the size and location of the community, these amenities may include greenbelts, landscaping, biking trials, swimming pools, even schools and shopping centers. Some amenities, such as the community pool and greenbelts, are paid for through a homeowners' association. Others are paid through taxes or mello roos. Still others are design enhancements intended to encourage potential buyers to purchase in an area or to attract more commercial business. Many of the more costly amenities included in a planned community may not be affordable for a homeowner on an individual basis. However, some of these amenities may not be important to you. After all, priorities, like lifestyle, vary. If you select a home in a planned community, you'll generally have a more structured community where decisions are made jointly rather than by the individual homeowner. These community decisions include individual home design and landscaping. While some homeowners may consider this an acceptable trade-off to ensure an attractive environment, others may consider it an infringement on their rights. It's important that you know how you feel before selecting the type of lot you want. Q. Can tax bases differ within the same community? A. Yes, they can. While some cities already have parks, schools, and streets, newer communities built within the same city may have special assessments that cover the costs to develop or maintain new or existing parks, schools, streets, etc. These assessments may be for a prescribed period of time or may continue indefinitely. A little research goes a long way. Here again, a good real estate agent or title company officer can often provide you with this information. Q. I've found the perfect location, but I'm not ready to build my dream home. Can I obtain financing for the land only? A. Yes, you can obtain a Lot Loan. Typically, this is short-term financing for the purchase of a residential lot suited for future construction. This loan allows you time to select an architect, builder, and design your dream home. IndyMac Bank's Lot Loan program allows you to finance up to 50 acres. And when you're ready to build, we offer a one-time close Construction-to-Permanent Loan. ^ back to top Still have questions? Call toll-free 1-800-HCL-LOAN (425-5626) to speak with a construction loan specialist, or downloada copy of our booklet (pdf) that answers the most frequently asked questions about building your own home. 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