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World’s Richest Real Estate Moguls

No matter what profession you are in, you will be impacted by real estate in some form or another. Whether you own, rent or sub-let, your life is impacted by real estate and the professionals or individuals that sell, manage or own it.

With that in mind, it would make sense that you just might be interested in people who have made it big in real estate. There are a select few in the entire world who have made their tremendous mark on the real estate landscape. Although, there were many struggles along the way, they arrived at that coveted spot of being a famous real estate tycoon.

Sarah Beeny is a developer and a host of Property Ladder, a British television program in the U.K. Beeny is a die-hard optimist and proponent for incorporating energy efficiency into building or remodeling.

Tim Blixseth is an American real estate mogul and billionaire businessman. He made a promise early on in his investment life to only collect assets, not liabilities, for the remainder of his life. He says he’s stuck to that promise.

Donald Bren, according to Forbes.com, is the wealthiest real estate tycoon on the planet with a $12 billion net worth. He currently owns hundreds of office buildings, along with 90 apartment complexes.

Conrad Hilton is the founder of Hilton Hotels. Hilton was known as a tremendous philanthropist who believed charity was a basic requirement for humanity.

Stanley Ho is one of the richest people in Asia. He’s a Macau and Hong Kong billionaire and casino mogul.

Lee Shau Kee is recently most famous for losing around $8 billion in net worth just in the past two years. Even with the huge losses, Kee continues to be noted as a real estate magnate as owner for Henderson Land Development. China’s greater region still considers Kee as one of the area’s richest people.

Ray Kroc is a entrepreneur who founded the McDonald’s Corporation franchise. Kroc purchased all rights to the McDonald’s name from the founding brothers Richard and Maurice McDonald. He took the franchise internationally to Japan and Germany in 1971.

Akira Mori is a famous Japanese real estate tycoon and billionaire. He’s one of the richest men in the world. President and CEO of Mori Trust, his family’s company owns real estate and hotels in Tokyo and all over Japan.

Minoru Mori is also a famous Japanese tycoon and billionaire. He and his brother Akira are sons to Taikichiro Mori.

Donald Trump is a famous television celebrity and billionaire real estate developer. Although his investments fluctuate with the waves of the sea, he always seems to come out on top.

Steve Wynn is a well-known Las Vegas casino and resort developer who developed some of the most opulent casinos and resorts in the City of Las Vegas.

Sam Zell’s net worth exceeds $6 billion. He is ranked 68th on Forbes’ list of richest Americans. He co-founded Equity Group Investments LLC that launched Equity Residential and Equity Office Properties.

Divergent Housing Price Trends In Mumbai And National Capital Region Crisi Research

CRISIL Research expects divergent price trends during the year in Mumbai and NCR (National Capital Region), the two largest residential real estate markets in India. In 2011, prices of houses are likely to decline in Mumbai, whereas prices will rise marginally in NCR. Further, the extent of price decline will vary widely across areas in Mumbai, whereas prices will inch up uniformly across areas in NCR.
CRISIL Research studied the price trend in three major supply pockets in Mumbai and NCR western suburbs (Goregaon, Malad, Kandivali and Borivali), Thane (Ghodbunder Road), and central suburbs (Dombivli and Kalyan) in Mumbai; and Noida and the outskirts of Ghaziabad and Faridabad in NCR.

City Reality reports offer an in-depth, area-wise analysis of residential, commercial and retail segments covering 400+ areas across 88 micro markets in 10 Indian cities. Read the real estate developer ratings at CRISIL that has developed two specialized products with their real estate research that help housing customers and financial institutions understand the intricacies.

Accounting for more than 50 per cent of total planned supply in each city, these major supply pockets would represent the trend in housing prices in the whole city. Mumbai and NCR would together account for more than half the 1.5 billion sq ft housing supply planned in India’s 10 leading cities up to 2013.

In Mumbai, falling demand, owing to diminished affordability, and rising interest rates will trigger a decline in prices in 2011. Prices of houses soared by 43 per cent in 2010, in the city’s three major supply pockets. Prices thus surpassed their peak values, attained in the first half of 2008, by 26 per cent, adversely affecting housing affordability. CRISIL Research therefore expects prices in Mumbai to decline by 8-10 per cent in 2011.
In NCR, prices will move up marginally because of relatively better affordability. Prices went up only by 6 per cent in 2010 in the capital region’s three major supply pockets. Prices in these areas currently are 15-20 per cent less than their peak values in the second half of 2007, making affordability relatively better in NCR than in Mumbai. CRISIL Research therefore expects average prices in the region to move up marginally by 3-4 per cent in 2011.

“Reduced affordability and a likely increase in interest rates by the Reserve Bank of India will subdue demand and depress housing prices in Mumbai in 2011. In NCR, relatively better affordability will prop prices despite any increase in interest rates,” explains Nagarajan Narasimhan, Director – CRISIL Research.

In Mumbai, the extent of the price decline would vary widely by area. Prices in premium locations like South Mumbai and Central Mumbai, which have an excess supply of houses priced at more than Rs 50 million, would decline sharply by 15-20 per cent over the next 12 months. Prices will decline more moderately, by about 6 per cent, in areas like Vasai and Virar, where affordability would be relatively better. In NCR, with prices increasing marginally across all areas, the trend, again, will be divergent.

Things To Take Into Account When Shopping For Real Estate When Moving

Shopping for real estate is a big deal in the lives of most people. You have to be sure that you are going to be able to find the right property at a price that you can afford. This can be very difficult at times, so you need to make sure that you are going to be able do your due diligence when researching properties in order to find the ones that are going to make the most sense for you. This can be easier said than done, and a lot of times people do not put enough thought into it. Take the following into account as you search for real estate in your area in order to find the best available option to you;

Commute

Remember, you are going to be driving to work on a daily basis, and it can be very hard to get used to a long commute. It takes a toll on you over time, so try to find a place that is going to limit your commute as much as possible. The first and most important thing is that you are able to maintain your livelihood and not lower your quality of life because you have decided to move. Make sure that you are willing to drive the distance that your work is from any of the homes that you are considering purchasing, and eliminate those that are too far away from your list in order to keep yourself from making a decision that you may regret down the road.

Square Footage

Also take the size of the home into account. Is there going to be enough room in the home for you? What if you were to have kids, and your family size increases? In that circumstance, would you be forced to sell the home? Having to sell a home while preparing for a child can be very difficult, and you have to make sure that you are going to be able to get the right sized house for you and your family. There are many things that need to be taken into account when evaluating the square footage including the amount that you are paying per foot, as well as how the home is laid out. You must make sure that the home has a desirable layout so that you do not regret your purchase at a later date.

Price

You also have to take the price of the home that you are purchasing into account. Also go into any purchase with a price budgeted for, that you are willing to pay, in order to ensure that you do not overspend and set your finances back a result. The price of the home will be determined by a number of factors including the size of the home, when it was built, and the location of the home relatively to things in the area. When looking for Houston Heights Homes For Sale, make sure that you are evaluating all the Houston Heights Real Estate in the area to ensure that you are getting the best possible home for you and your family. When looking for Houston Heights Real Estate or other Houston Heights Homes For Sale, there are many things that need to be taken into account. If you want to know more information,please visit our site:http://www.houstonheightshome.com

How To Update Your Kitchen

If you are in the process of renovating a recently purchased home or if you are looking to modernize your current home, then be sure to focus on your kitchen! Kitchens are a focal point of any home, and can make or break a sell. This means that having an excellent kitchen gives your home excellent value, personally and financially! Many studies on the real estate market and home values have shown that the return on investment is greater when renovating a kitchen than when making any other possible change to your home. In other words, money put into a great home kitchen is not just money spent, it is money wisely invested.

When you are looking to update your kitchen on a budget, or if you have the budget to build the kitchen of your dreams, focus first on excellent, handmade, high-quality cabinetry. The craftsmanship and style of good cabinetry will age well, keeping its structural integrity and beauty. So when you need kitchen cabinets in Troy, MI, look no further than a cabinetry distributor with a wide selection of quality cabinets and experts who can find the right style and pieces for your project.

First, though, you must make these considerations, so that you can shop smart and find exactly what you need to pull off a beautiful, functional kitchen design.

1. Avoid Excess Details

If you currently have cabinets with wallpapered doors, excess trim, mismatched features, or unusual design qualities, then it is time to replace them. You can still have lovely detailed cabinets, though; contemporary, sleek styles are not for everyone, nor do they suit every home. Have an expert help you combine elements to be sure that the details on cabinets, such as trim and columns, all match each other and are suited to the kitchen design you have in mind. Thankfully, if you are looking to go contemporary, then you have an easy task: find sleek lacquer cabinets that are simple and functional, not distracting.

2. Develop a Cohesive Design

As discussed above, your cabinets will need to suit each other, and be suitable to your design. However, it is important to be sure that the design you have in mind is in fact cohesive. Traditional wooden cabinets with plenty of flair do not suit a cute, beach front style home. Be sure that your kitchen reflects the architecture of your home, but also modernizes it. This may sound like a difficult task, but when you feel lost or confused, go to style magazines or sites like Pinterest for inspiration. You can even take an exact picture to your cabinet distributor to find exactly what you are looking for. An expert can also help you combine cabinets that are similar to each other, ensuring that your overall design has a cohesive look.

3. Avoid Tacky Features

Overly gaudy features, like excess wine racks, chalkboard finish on cabinets, or pastel-colored cabinets will cheapen the appearance of your kitchen. It is okay to be playful with the style of your kitchen if you so choose, but be sure to eliminate features that would not appeal to other people, such as your guests.

4. Be Practical

Your kitchen should be useful. It needs the proper amount of storage space, counter space, and work space for you to be able to accomplish many different tasks in your kitchen. The proper amount of cabinetry will ensure that you always have room to accomplish the work you need done, and will ensure that you can keep your kitchen neat. If you are an avid chef, then you will need space for plenty of equipment as well as room to put things away so that your precious counter space is not filled with appliances, tools, or other clutter.

When you are ready to take on your kitchen design project, be sure that you seek out quality kitchen cabinets in Troy, MI, as well as other quality materials, and your design or renovation will not only be simple; it will actually be fun!

Tips On How To Buy Property In Noida

Being the part of the NCR and a major industrial hub, Noida witnesses a thriving real estate market. Along with industries, Noida is also the major target of world renowned corporate sector. The emerging BPO and the software sector find the place to be apt for spreading their business. This has resulted not only the growth of the commercial realty sector but also the residential realty developments to provide homes for the growing number of urban professionals and business executives.

Whether to get your own home or simply to receive bulk investment returns, to buy property in Noida is indeed a good idea. As an investor, if you are waiting for the right time to buy property in Noida, this is perhaps the right time. The Noida property prices are appreciating, you are sure to get high returns in future.

To buy property in Noida, you would get wide choices. This can ultimately confuse you. The following tips to buy property in Noida, can help you to great extent.

Tips to Buy Property in Noida

Check the legal feasibility and due diligence in the property. If you don’t and if the property happens to have legal issues, this can put you into trouble in future. To avoid such consequences, you are advised to under go a thorough property check with respect to legal terms and conditions.

Visit the site. This would help you to get the idea of the locality where you are going to stay in future. Make sure the place is safe for you to reside peacefully. Check out how long it exactly takes to reach the nearby markets, malls, bus stops, educational institutes, hospitals and such. Take a test drive from your new home to your office and gauge the traffic you would face.

Note down the track record of the developers. This is very important. Often many investors have to wait for long to get the property possession even after payment. Make sure you do not fall in such traps. Go for a renowned builder if you are looking out for a hassle free property transaction process.

Check the correct value for money pricing of the project. Research on the prevalent Noida property prices before you buy. Either you can take help from your friends and associates or simply browse the internet to get the idea.

The Noida property dealers are quite useful. But before hiring make sure you are not a target of any fraud.

How To Master Property Valuation Of A Self-storage Facility

The numbers have been crunched, a broker has been hired, and the marketing has begun. Its official: its time to sell the self-storage facility. Whether its retirement, cashing out on a successful investment, or simply a search for a new business challenge, many self-storage professionals are busy navigating their ways through the murky waters of commercial real estate buying and selling. And those waters are becoming increasingly rough. The real estate slowdown and equities market woes seem to lead the evening news nightly, and many self-storage investors are left wondering how well their properties will fare on todays open market.

With this in mind, pricing is becoming an increasingly important part of ensuring a successful sales transaction. Of course, pricing a self-storage property correctly is easier said than done. Over the past several years, values assigned to self-storage facilities have increased dramatically as the asset class has become more desirable to investors.

Class A properties have become especially pricey as more institutional investors have entered the self-storage market. Looking at the sales prices from previous years, many believe values will continue to rise exponentially, while others feel their areas have topped out and even become overpriced. This adds to the overall confusion over what the correct asking price is for a self-storage asset.

Determining Price
It is important to carefully examine the facts and data to determine a facilitys real value. Generally, net operating income is the driver of value of an existing self-storage property, says Pierce Owens, senior associate at CB Richard Ellis in Houston, Texas. However, many people calculate net operating income in different ways. For example, some buyers include a third-party management fee in calculating income. There are many different opinions as to what the right net operating income should be.

Not so long ago, many buyers used projected rent and income figures to determine a self-storage propertys value. However, this practice has become less common. Buyers now have more of a focus on historical performance, rather than more of a focus on historical performance, rather than a rosy proforma, says Owen. With the current credit market, most lenders will no longer provide funding based on future estimates. Instead, they focus only on actual net operating income figures.

A propertys place in the market also has an affect on its value. In an area with huge barriers to entry and a high cost for building new facilities, a property may be worth more than a similar store in a less restrictive market. In addition, the number of nearby competitors and the stores name recognition are also important indicators of overall worth.

Another methodology for the valuation of self-storage property involves the use of optimal underwriting. With optimal underwriting, buyers determine the appropriate expense load a facility should carry, says Steve Ekovich, first vice president, regional manager, and national director of the self-storage group at Marcus & Millichap in Tampa, Fla. The expenses would then be factored to derive a CAP rate. Next, income figures are calculated using both the gross potential rent of the facility and the sites current vacancy rate. Both physical and economic vacancy rates are analyzed as well.

You have to look at the collected income on a monthly basis for two to four months to get a feel for occupancy, Ekovich says. This takes into account the length of time it takes to turn the units and concessions offered to tenants.

The result effective gross income would then be analyzed using the expected expenses for the new owner, including taxes, insurance, and management fees. In addition, salaries, maintenance expenses, and comps would also be studied to ensure they are in line with current market averages. These numbers all serve to give the new owner a realistic picture of what their expenses will be.

Looking At The Market
Over the past few years, self-storage prices seemed to skyrocket. There was an 18-month period where the laws of supply and demand took over, explains Aaron Swerdlin, senior managing director at Houston, Texas-based Storage Investment Advisors. At that time, there were many more buyers than sellers.

As a result, prices rose dramatically, and many people believed property values were ballooning too quickly. There is perception that prices were going so high that things were getting out of hand, says Swerdlin. But, for a long time, self-storage was ignored by the institutional investment community. Once it caught on, it took a while for values to catch up. People werent overpaying or making deals that they shouldnt be doing. We werent seeing properties selling for more than they should.

Investors are still actively pursuing self-storage properties in spite of the current real estate slowdown. One reason for this is that capital is generally less expensive for institutional investors than it is for private individuals to obtain. Another driving force behind the influx of investors includes the fact that self-storage is both a business and an investment.

There are more groups looking at self-storage than there were three ago, says Marc Boorstein, principal at Chicago, Ill.-based MJ Partners Real Estate Services. One of the reasons so many new groups are looking to invest in self-storage is that there are fewer defaults in storage than in any other commercial property. Youre not dependant on one tenant like you are with retail.

Many investors believe that self-storage is more stable than other business classes. Investors like self-storage because they perceive that the risk adjusted profile on returns is attractive compared to other assets, says Owens. There is also a perception that self-storage is more recession proof than other assets.

For the most part, however, institutional investors tend to target the newer properties located in the largest markets. Over the last couple of years, institutional investors have increased their appetites for Class A, fourth-generation properties, Ekovich says. The more leverage you have, the more someone can pay for an asset. Leverage also affects the CAP rate and has had a profound affect on underwriting.

Although institutional investors seem to be focusing most of their attention on Class A self-storage facilities, Class B and C properties are also seeing a bump from investors new found interest in the industry. There is a pretty big disparity between Class A properties and Class B and C, says Owens. As the industry welcomed an ever increasing number of new participants, sellers of A Class sites were getting top dollar whenever properties changed hands. Nevertheless, the supply of these assets is limited. There are not a lot of Class A properties, says Owens, so buyers end up chasing B Class properties.

Last year, the price gap between Class A and B was narrower, he adds. This year, it has widened more. Banks and lenders have much tighter underwriting standards today, and they are most likely to lend on very attractive Class A properties.

Knowing The Players
Occasionally, institutional investors will go after a grouping of B and C class properties. Institutional money is going after B properties, but only if you can get a portfolio together, says Boorstein. As you get to smaller markets, you must have a portfolio of three or more properties. It gives the buyer a presence in the market and the advantages of economies of scale.

If self-storage sellers believe their properties will attract the attention of commercial investors, they should set their asking prices accordingly. Sellers need to have a strong understanding of who their buyer might be-a private individual, a regional buyer, or an institutional investor, advises Owens. They should also know how a lender will underwrite and lend on their property.

In general, buyers prefer to use debt financing when possible. However, the cost of funds and debt is going up and, as a result, CAP rates are climbing. Sellers need to understand how that plays into what buyers can pay for the property and how it will be funded.

The benchmark is the 10-year T-bill, and the T-bill has gone down but spreads have gone up, causing interest rates to increase, Ekovich says. The more leverage you have, the more someone can pay for an asset. Leverage also affects the CAP rate and has had a profound affect on underwriting.

With the problems of tightening credit standards, sellers are unlikely to see the same type of debt structures available that were easily attainable only several months ago. Today, most buyers must use more of their own money to close a deal. You used to be able to get 10-year interest-only financing, but now you can only get interest for 2-years, says Boorstein. Very aggressive loans are now less aggressive. Now, the buyer has to put in more equity, and interest rates are higher.

In spite of credit concerns and a softening real estate market, many buyers are still aggressively pursing high-end self-storage properties. Sellers with solid portfolios or successful Class A properties are still likely to garner strong offers. However, sellers who are simply interested in testing the waters may not like what they find. The choppy tides can be extremely unfriendly as property prices have dropped off in some areas.
Nevertheless, the best stores will always attract the attention of a variety of buyers, ensuring smooth sailing for those who are staying the course to get the highest prices and best returns when selling their self-storage facilities.

Dwarka Flats Price Has Doubled In 3 Years

In current years, the property market of Dwarka has certainly seen a standard shift. Dwarka Property is witnessing a new trend in living the lifestyle, with tall buildings and commercial malls. Apart from residential society apartments, flats the concept of integrated town also inaugurating Dwarka with many major players in real estate development projects engaged exclusively in this field. Dwarka Property value has doubled in the last three or four years. Currently it is almost impossible to find a good residential property in less than 75 lakh rupees. The most key factor in pumping the housing boom of Dwarka is Metro, which has emerged as an crucial matter of convenience for residents here. Before that, it was hard for residents to travel to remote areas, like cannaught place, south delhi and North Delhi.

Dwarka is the prime colony in Asia and has a total of 29 sectors, of which 23 are functional. If CBI clears all the residential flats in dwarka, you can climb to 75-80%. In Delhi, there are many family who are very interested in buying a property in Dwarka. And just only because of the Delhi Metro, Flyover and underpass of Dwarka. After some time, ISBT also come-up in Sector 23, Dwarka and it will also boom property in dwarka.

Dwarka has a great deal to offer its residents.

1. It is very bring to a close connected with the domestic and international airport.
2. It has wide roads, big markets and shopping malls.
3. It is well connected with major parts of Delhi by metro, DTC buses and very close to both South Delhi and West Delhi.

Another reason why Dwarka has witnessed immense development is that because of the scarcity of land in the rest of Delhi, has become an obvious alternative for real estate development. Sector. 23 is almost developed and Sector 24, 25 and 26 are in development from the 29 sectors of Dwarka. Moreover, the arrival of 32 lanes, which is closely linked to Dwarka Delhi, and real estate values here have an optimal impact of growth.

There are about 350 CGHS which are now operational and an average of 100 family are in a society. Dwarka Compared to other big colonies like Rohini, gurgaon and noida, one will find the apartments in Dwarka are much more expensive. A normal residential apartment and simple Rohini expenses around Rs 45 lakh while the same costs Rs 75 lakh in Dwarka. To purchase a residential apartment in Dwarka, people are selling their apartments in nearby societies and people want to live in an area with new construction, better social infrastructure.

The Delhi Development Authority has risen to fourty thousands residential units in the self-financing plans mega housing units, HIG, MIG and incremental. It has been designed especially to the economically weaker sections (EWS) of residential society. The delhi development authority has planned a series of early warning systems, LIG and Resettlement of homes in the area of systems. There are about 20 thousands flats in Dwarka DDA which are held from 8.000 to 10.000. Among all the DDA flats in Dwarka, over 70 percent are ready and we are expecting the award.