Global agents are aware of the ways in which differences in culture and business practices can complicate transactions. Yet the U.S., Canada and the U.K. share a cultural heritage, a common language, and their governmental and legal systems share roots. How different can real estate practices in the U.K. be?
Florida has long been a prime spot for British buyers looking to escape their chilly winters. But now snowbirds aren’t the only Brits buying in the states. Lately a growing base of buyers has emerged interested in the potentially good returns of investment property. In fact, NAR’s most recent Profile of International Home Buying Activity found that among international buyers of U.S. property, the U.K. ranked fourth, tied with India.
This issue of Global Perspectives takes a closer look at a new breed of British buyers coming into the global real estate marketplace. Their property search is primarily driven by the challenges they currently face in the U.K. market and changes in the global economic climate. Young, financially savvy urban-dwellers who are interested in investing for growth are looking abroad for good returns.
On Jan. 30, 2013, the Federal Housing Administration’s (FHA) Commissioner Carol Galante announced a series of changes to be issued this week that manage risk and further strengthen the heath of FHA’s Mutual Mortgage Insurance Fund (MMI Fund).
With credit sources hard to access, it seems that more businesses would turn to the Small Business Administration (SBA) and its loan programs for building acquisitions. In spite of today’s sub five-percent, 20-year, fixed loan rates however, the program battles some misperceptions and does little to promote its loans. In a typical SBA 504-loan, a bank provides the first mortgage at 50 percent loan-to-value.
By Julie M. Mcintosh, CRE
Although the economy is showing signs of new life, the reality is that commercial real estate continues to operate in a very challenging environment. The vast majority of current commercial transactions are distressed debt assets, with banks and the FDIC selling both portfolios and individual loans.While everyone is being cautious when it comes to usual financing, there are some opportunities being directly created by the built-up inventory of distressed assets.