Government Grants for All

Land Registry: November house prices up 0.3 per cent since October – Average house price in England and Wales now £160,780

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Tags: £160780, Average, cent, England, House, land, November, October, Price, Prices, Registry, Since, Wales

Land Registry: July house prices up 1.3 per cent since June – Average house price in England and Wales now £163,049

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Tags: £163049, Average, cent, England, House, July, June, land, Price, Prices, Registry, Since, Wales

HEALTH: High Drug Prices Hamper Drug-Resistant TB Treatment

Access to treatment for drug-resistant tuberculosis (DR-TB) remains
compromised, especially in developing countries, because too few
pharmaceutical companies manufacture quality-assured drugs. Lack of
competition has led to skyrocketing prices and this means that public health
budgets are quickly spent.

Subsidies: Who Really Benefits? – INTER PRESS SERVICE

Tags: Drug, DrugResistant, Hamper, Health, High, Prices, Treatment

House Prices In 2007

Quite simply, house prices are expected to rise in 2007. How much varies according to which survey you read. Halifax bank predict house prices to rise by 4% whereas the building society, Nationwide, expect prices to rise between 5-8%. The research group, Lombard Street Research, however predict prices could rise by 15% – quite a difference to 4% but bear in mind that this research group correctly predicted a price growth of 10% in 2006 whilst other surveys predicted a growth of only 2 – 4%.

Interest rates rose on 11 January to 5.25%, the third increase in six months and more increases may follow with some experts suggesting that interest rates could rise to 6% this year. Every 0.25% rise equates to the average householder with a mortgage of £100k paying an extra £16 per month. However whether this will effect the housing market is questionable – many economists were surprised that the two interest rises in 2006 did not appear to slow down the house prices as expected.

Some mortgage lenders have moved with the price growth so that borrowers can secure mortgages up to 5 times their salaries and interest only mortgages are becoming more popular. Conditions for first time buyers are likely to worsen during 2007 as a result of yet higher prices compared to salaries.

Factors supporting the prediction of price growth in 2007 are bumper city bonuses underpinning the house prices in London and the South East, a strong economy, low unemployment, a growing ageing population, an increase in the number of single households and a continued shortage of supply. Factors that could slow the house price rises are increases in interest rates, over-stretched affordability and a slowing global economy.

Another factor in the market has been the public speculation that prices will continue to rise. If this changes to the view that interest rates will go up and the housing market will slow down, potential buyers may wait to see if there is a slow down and by doing so, create a slow down and a subsequent fall in prices.

The predictions for 2007 are that housing prices will continue to rise. Watch closely.

Susy Copus is a property commentator and has written for the UK Property Search Engine, http://www.wheresmyproperty.com, http://www.renovatealerts.com who specialise in finding property to renovate and http://www.propertymoneymaker.co.uk.

Tags: 2007, House, Prices

Small Business Owners Feeling the Pinch from Higher Gas Prices

By Carol Johnson

Many business owners large and small have been feeling the pressure of mounting gasoline prices over the past year. Crude oil has hit a new high of more than $75 a barrel, and that increase translates into higher prices at the gas station, which translates to higher costs of doing business. For small business owners that depend on gasoline to run their business, it is becoming more and impossible to ignore the increased costs associated with doing their day to day business.

To counteract the impact on profits, some businesses have chosen to increase their prices to have their customers absorb some of the impact. But doing so is risky if customers rebel and take their business elsewhere. A business article in the Atlanta Journal-Constitution described how a heating and air conditioning company in Atlanta now adds a $10 fuel surcharge to its bills. One plumbing company now sends out fuel-efficient pickup trucks on service calls, rather than sending out its gas-guzzling box trucks. Some companies are adding fuel surcharges that recalculate each month to account for the previous month’s gasoline costs.

Small businesses are the backbone of America, and the nature of independent businesses is varied and plentiful. For that reason, there isn’t a lot of information available about how the high costs of fuel are impacting small businesses in general. But customers are beginning to see more and more surcharges and price increases. Although customers may assume that the surcharge will disappear if fuel costs begin to decrease, that may not happen. So they may look elsewhere to find a company that will provide the same service without a fuel surcharge.

The companies that have been hit the hardest by higher fuel costs are those that depend on service trucks, vans, delivery vehicles, hauling and moving companies, and businesses responsible for delivering products or services to consumers. Some businesses have calculated jumps as high as 40% from last year’s gasoline costs to this summer’s costs. If those businesses are in turn have to pay their own fuel surcharges to other companies higher up the delivery chain, then the costs will certainly be funneled down to the end consumer somehow. Sooner or later, a small business owner has to face the music and calculate how much his own cost increases are cutting into his profits, and figure out the best way to manage those costs without losing customers.

Richard Russell of Dow Theory Letters believes the price of crude oil is likely to stay up and continue to climb for quite a while. “I believe that oil is going to be a problem,” Russell says. “Too much of the world’s oil reserves are held by nations either neutral or unfriendly to the United States. Then there’s the matter of China and India, both nations that are gulping down oil as fast as it can be produced. The great battle to tie up oil reserves is on, and it could easily get nasty. Oil’s stubborn ability to hold above a price of $70 a barrel is already surprising many analysts. And you have to ask, what happens if something unexpected occurs in the world of oil, such as the ‘bad guys’ blowing up some oil facilities?”

It is tempting for many small business owners to simply try to wait it out and hope for oil prices to peak out and then slowly slip back into reasonable limits. But even if that happens, business owners must not react by lowering their prices dramatically to please customers or entice new ones. It is a balancing act filled with guesswork and theorizing, but careful reasoning is essential to protecting profitability and staying in business. If that balancing act is a successful one, then small business owners should be able to keep most or all of their existing customers, possibly steal a few customers from competitors who raise their prices too high, and then retain their profitability while hoping that prices settle back down again.

It’s always tough to play a wait-and-see game, and even tougher to play a guessing game when the variables are changing daily. While American consumers watch and fret about rising gasoline prices impacting their vacation plans, American small business owners are sweating it out even more, trying to figure out how to keep their businesses afloat without passing along too much of the rising costs to customers. Sooner or later, owners of the backbone of America will have to make some hard decisions, so consumers may want to stop worrying about paying higher prices at the gas pump and start worrying about paying higher bills everywhere else.

Tags: Business, feeling, From, Higher, Owners, Pinch, Prices, Small

Investing – Home Prices fall in majority of the biggest markets

If you have owned a home, or any piece of residential real estate including condos, and vacation homes than you are aware of the run up in prices that occurred for a five year period that ended more than a year ago. In terms of investing, owning a home for half a century has been a wonderful way to build wealth. It is one of the few investing methods where you could actually live in your investment, while it increased in value. Most investors are not aware that from World War II until last year, there was never a single year where home prices fell on a national level, until last year that is.

Homeowners have counted on a steady annual increase in the price of the house they were living in to create a wealth effect. For many, it was their only source of forced savings. It was also a participation in the American dream – owning your own home, and living in it.

Studies are now available which show that at the end of last year, a number of housing markets declined. Actually, 149 different markets experienced the decline. Hardest hit were the East and West Coast of the US, and the Northeast cities.

In you were in Florida at all last year, it was impossible not to see thousands of super cranes going about the process of building 20 to 50 story condominiums. The vast majority of these condos were bought on speculation with the buyer signing the contract never anticipating the need to close on the contract.

We have not seen a mass number of walkways yet. These are people that signed non-recourse agreements with the builder, and are in a position to walk away from the agreement without having to write a check. They will forfeit the deposit they put down however.

Florida may well be the state taking the biggest hit in real estate. Sarasota was down 18% by year-end, while Melbourne was experiencing a 17 % decline. We are talking about actual prices being down. On a national level prices were down 2.7%.

Many analysts haven’t quite figured out what this means? Are motivated sellers holding onto residences longer in anticipation of getting their higher price later on? Are some sellers withdrawing their homes from the market, or perhaps not putting them on the market at all, awaiting prices firming up, perhaps later this year?

What about sales themselves?

In addition to prices being down, there are less actual sales taking place, which is leading to a larger inventory of unsold homes. Forty different states have reported a decline in the number of sales taking place. On a national level the number comes to a 10.1% decline in the actual number of homes being sold regardless of price. Three different localities have reported physical sales being down more than 30%. They include Nevada, Florida, and the District of Columbia. Virginia reported a 20% decline.

There were six states that reported an increase in the number of sales taking place – that’s six out of fifty. They included Alaska, Arkansas, Illinois, Kentucky, Mississippi, and Texas. There was no impact on Utah where sales were flat.

What you really need to look at is the VACANCY rate. The vacancy rate is the number of homes on the market where nobody is living in them, and they are for sale. On a national level, this number always seems to hover around 2%. At year-end, the number went to 2.7%. This is a massive increase because 2.7% is the highest it has been to in 50 years, and that’s only because they started figuring out the number 50 years ago.

You’ve got owners out there who are just waiting, and won’t sell at a lower price than the price they want. This accounts for the increased vacancy rate. On top of that you have another issue. There does come a point where a seller may have to sell. He will take what he can get, even though it establishes a new lower base from which everything else can trade.

Once this base is established than other buyers and sellers see it. The seller reacts with alarm. The buyer reacts with glee, but trepidation also because the buyer doesn’t know if prices are going lower still. This is how panic selling sets in, and no buyers. The buyers walk away, waiting for still lower prices

It’s the same as the stock market, sellers once they have seen higher prices, don’t want to sell at a lower price. Many prefer to wait, hoping, and it is hope that the price will come back. Only the forced seller will do the deal. It might be an estate, or divorce settlement, or a housing relocation that forces the actual sale. It doesn’t matter, once that sale hits the marketplace for all to see, there is a new adjustment in the real estate market.

Where’s the BIAS Now – UP or DOWN?

It is difficult to tell if the year-end numbers have wrenched out the secular excesses that have taken place in the real estate markets in the last five years while everything went crazy on the upside. There may be more to go. If you look at the stock market, most of the house builders bottomed out several months ago when they all made new multi-year lows. Since then, they have rallied nicely. If the real estate market has more to go on the downside, than these stocks will probably have to build double-bottoms before the decline is actually over.

If however, the vacancy rate picks up from here, and price declines have seen their bottom, than most of the damage is behind us. The economy overall and interest rate seem fine, so we don’t expect damage coming from a decline in GDP this year. What seems to be happening is that we are looking at a wearing down of the excesses produced since the late 1990’s in residential real estate in this country?

The geographical segments of the country that experienced the most increases in real estate prices are now the ones experiencing the declines. It’s the same story, and the story never changes, only the areas of the country being affected changes. Our work shows that prices, and vacancy rates have a way to go yet on the downside. At the same time, we believe the housing stocks may decline, but the absolute bottoms established months ago will hold. We are already off those bottoms.

Goodbye and Good Luck
http://www.stocksatbottom.com/ez.html

Tags: Biggest, Fall, Home, Investing, majority, Markets, Prices

UN Warns of New Face of Hunger As Global Prices Soar

The UN warned yesterday that it no longer has enough money to keep global malnutrition at bay this year in the face of a dramatic upward surge in world commodity prices, which have created a “new face of hunger”.

“We will have a problem in coming months,” said Josette Sheeran, the head of the UN’s World Food Program (WFP). “We will have a significant gap if commodity prices remain this high, and we will need an extra half billion dollars just to meet existing assessed needs.”

With voluntary contributions from the world’s wealthy nations, the WFP feeds 73 million people in 78 countries, less than a 10th of the total number of the world’s undernourished. Its agreed budget for 2008 was $2.9bn (£1.5bn). But with annual food price increases around the world of up to 40% and dramatic hikes in fuel costs, that budget is no longer enough even to maintain current food deliveries.

The shortfall is all the more worrying as it comes at a time when populations, many in urban areas, who had thought themselves secure in their food supply are now unable to afford basic foodstuffs. Afghanistan has recently added an extra 2.5 million people to the number it says are at risk of malnutrition

“This is the new face of hunger,” Sheeran said. “There is food on shelves but people are priced out of the market. There is vulnerability in urban areas we have not seen before. There are food riots in countries where we have not seen them before.”

WFP officials say the extraordinary increases in the global price of basic foods were caused by a “perfect storm” of factors, including a rise in demand for animal feed from increasingly prosperous populations in India and China, the use of more land and agricultural produce for biofuels, and climate change.

The impact has been felt around the world. Food riots have broken out in Morocco, Yemen, Mexico, Guinea, Mauritania, Senegal and Uzbekistan. and Pakistan has reintroduced rationing for the first time in two decades. Russia has frozen the price of milk, bread, eggs and cooking oil for six months. Thailand is also planning a freeze on food staples. After protests around Indonesia, Jakarta has increased public food subsidies. India has banned the export of rice except the high-quality basmati variety.

“For us, the main concern is for the poorest countries and the net food buyers,” said Frederic Mousseau, a humanitarian policy adviser at Oxfam. “For the poorest populations, 50%-80% of income goes on food purchases. We are concerned now about an immediate increase in malnutrition in these countries, and the landless, the farmworkers there, all those who are living on the edge.”

Much of the blame has been put on the transfer of land and grains to the production of biofuel. But its impact has been outweighed by the sharp growth in demand from a new middle class in China and India for meat and other foods, which were previously viewed as luxuries.

“The fundamental cause is high income growth,” said Joachim von Braun, the head of the International Food Policy Research Institute. “I estimate this is half the story. The biofuels is another 30%. Then there are weather-induced erratic changes which caused irritation in world food markets. These things have eaten into world levels of grain storage.

“The lower the reserves, the more nervous the markets become, and the increased volatility is particularly detrimental to the poor who have small assets.”

The impact of climate change will amplify that already dangerous volatility. Record flooding in west Africa, a prolonged drought in Australia and unusually severe snowstorms in China have all had an impact on food production.

“The climate change factor is so far small but it is bound to get bigger,” Von Braun said. “That is the long-term worry and the markets are trying to internalise it.”

The WFP is holding an emergency meeting in Rome on Friday, at which its senior managers will meet board members to brief them on the scale of the problem. There will then be a case-by-case assessment of the seriousness of the situation in the affected countries, before the WFP formally asks for an increased budget at its executive board meeting in June.

But the donor countries are also facing higher fuel and transport costs. For the biggest US food aid program, non-food costs now account for 65% of total program expenditure.

Global impact: Where inflation bites deepest

1United States The last time America’s grain silos were so empty was in the early seventies, when the Soviet Union bought much of the harvest. Washington is telling the World Food Program it is facing a 40% increase in food commodity prices compared with last year, and higher fuel bills to transport it, so the US, the biggest single food aid contributor, will radically cut the amount it gives away.

2Morocco 34 people jailed this month for taking part in riots over food prices.

3Egypt The world’s largest importer of wheat has been hard hit by the global price rises, and most of the increase will be absorbed in increased subsidies. The government has also had to relax the rules on who is eligible for food aid, adding an extra 10.5 million people.

4Eritrea It could be one of the states hardest hit in Africa because of its reliance on imports. The price rises will hit urban populations not previously thought vulnerable to a lack of food.

5Zimbabwe With annual inflation of 100,000% and unemployment at 80%, price increases on staples can only worsen the severe food shortages.

6Yemen Prices of bread and other staples have nearly doubled in the past four months, sparking riots in which at least a dozen people were killed.

7Russia The government struck a deal with producers last year to freeze the price of milk, eggs, vegetable oil, bread and kefir (a fermented milk drink). The freeze was due to last until the end of January but was extended for another three months.

8Afghanistan President Hamid Karzai has asked the WFP to feed an extra 2.5 million people, who are now in danger of malnutrition as a result of a harsh winter and the effect of high world prices in a country that is heavily dependent on imports.

9Pakistan President Pervez Musharraf announced this month that Pakistan would be going back to ration cards for the first time since the 1980s, after the sharp increase in the price of staples. These will help the poor (nearly half the population) buy subsidized flour, wheat, sugar, pulses and cooking fat from state-owned outlets.

10 India The government will spend 250bn rupees on food security. India is the world’s second biggest wheat producer but bought 5.5m tonnes in 2006, and 1.8m tonnes last year, driving up world prices. It has banned the export of all forms of rice other than luxury basmati.

11 China Unusually severe blizzards have dramatically cut agricultural production and sent prices for food staples soaring. The overall food inflation rate is 18.2%. The cost of pork has increased by more than half. The cost of food was rising fast even before the bad weather moved in, as an increasingly prosperous population began to demand as staples agricultural products previously seen as luxuries. The government has increased taxes and imposed quotas on food exports, while removing duties on food imports.

12 Thailand The government is planning to freeze prices of rice, cooking oil and noodles.

13 Malaysia and the Philippines Malaysia is planning strategic stockpiles of the country’s staples. Meanwhile the Philippines has made an unusual plea to Vietnam to guarantee its rice supplies. Imports were previously left to the global market.

14 Indonesia Food price rises have triggered protests and the government has had to increase its food subsidies by over a third to contain public anger.

FAQ: Food prices

Few winners and many losers

What is the problem?

In the three decades to 2005, world food prices fell by about three-quarters in inflation-adjusted terms, according to the Economist food prices index. Since then they have risen by 75%, with much of that coming in the past year. Wheat prices have doubled, while maize, soya and oilseeds are at record highs.

Why are food prices rising?

The booming world economy has driven up prices for all commodities. Changes in diets have also played a big part. Meat consumption in many countries has soared, pushing up demand for the grain needed by cattle. Demand for biofuels has also risen strongly. This year, for example, one third of the US maize crop will go to make biofuels. Moreover, the gradual reform and liberalization of agricultural subsidy programs in the US and Europe have reduced the butter and grain mountains of yesteryear by eliminating overproduction.

Who are the winners and losers?

Farmers are the obvious winners, as are poor countries that rely extensively on food exports. But consumers are having to pay more, and the urban poor in many developing states will be hardest hit, as they often spend more than a third of their income on food.

How long are prices likely to be high?

The US department for agriculture says the country’s wheat stocks are at their lowest for 50 years and demand will continue to exceed supply this year. There is potential to bring more land into production in countries such as Ukraine, but that could take time. And as all foodstuffs have risen sharply in price there is little incentive for farmers to switch from one crop to another.

What about the EU’s common agricultural policy?

High food prices certainly remove the need to subsidize farmers and so there is a chance, say experts, that badly needed reductions in CAP subsidies, which cost European taxpayers dearly, could now be within reach.

Are other commodity prices also rising?

Oil, metals and coal have seen their prices rise strongly as the global economy has expanded rapidly, driving up demand for almost everything,

particularly from emerging economies such as China and India. Some economists think speculation may also play a part. Disappointed by the sub-prime collapse and falling property values in many countries, investors have piled money into commodities.Ashley Seager

Tags: Face, Global, Hunger, Prices, Soar, Warns

Oil Prices Rebound Drives and High-growth Services

And Oil Prices “Soft Connection”

Oil and gas equipment and services industry boom of the oil prices are inextricably associated with the oil industry, while not directly affect production costs, but will affect the intensity of exploitation of oil and gas exploration and investment, thus indirectly on the oil and gas production equipment and services affect the environment. Insiders called it the “soft association.”

After the 2008 “peak moment” after the beginning of 2009, international oil prices fell below 34 U.S. dollars, the highest break 80 U.S. dollars in October, oil prices averaged 61 dollars a year compared with 2008, the average price dropped by 37%. Oil prices will undoubtedly lead to oil companies for oil and gas production more cautious, in 2009 domestic crude oil production was 1.89 million tonnes, down 0.8% in 2008, this is the first oil production in recent years, negative growth; natural gas production increased by only 8.6%, significantly less than in the past 5 years the average annual increase of 17%.

Reduce the size of oil and gas exploitation would inevitably affect the related equipment and services industry, market environment, the industries associated with oil and gas prices have to look at the “face.” In 2009 to limit domestic oil production, price reduction, compression and investment measures, related equipment and services market substantially reduced in 2009, three oil giants exploration and production capital expenditures decreased by 12.32%. Affected by this, in 2009 oil and gas equipment and services to the industry’s overall performance was lower than in previous years.

Annual report to the seven listed companies, in addition to the end of October 2009 GEM-listed shares of companies large increase Pao, the other six in the two increases should not exceed 7%, 4 performance decline.

For example, the prospective oil shares in 2009 only 60% capacity utilization, second and third quarter, even the lowest 50% and lower than average level of 85%; God to open orders for 2009 shares in a substantial reduction, in particular, Overseas sales decreased nearly 40% year on year.

Northeast Securities researcher Wang Weigang pointed out that although the same in the oil and gas equipment and service industries, but the company’s products and features are not the same, compared to standard oil shares such as CNOOC services to oil field service-based companies, by the oil price impact of greater flexibility.

“However, although investment in oil exploration and exploitation of nature will be affected by oil prices, but investment will be adjusted each year, as expected by mid-2009 junior oil production will fall by 5%, but oil prices later in the second half to increase the output, annual crude oil production fell by only 3.1%. “one industry people in China Securities Bao told reporters that” in oil prices may Hennanhuidao 50 dollars a case, You Qi exploration and exploitation of long-term investment actually Bu Hui You Da Fu decline in short-term fluctuations in oil prices will not change. so related equipment and service industries associated with oil prices more of a ‘flexible association’. “

Performance Recovery in 2010 is No Doubt

In January, oil lines from 60 U.S. dollars to 80 U.S. dollars along the way, after holding stability, the market is expected to the year 2010, oil prices may continue maintenance of stability of not more than 100 U.S. dollars in a high level. Analysts pointed out that the rise of oil prices in 2010 no doubt oil and gas equipment and services sector boom of the environment, the 2010 exploration and production companies increased 17.90 percent of capital expenditure plans. Based on the overall market recovery in 2010 to judge the trade on the oil and gas equipment and services sector growth in the same promising results. Northeast Securities researcher Wang Weigang said, and many related companies has been improved orders.

CNOOC’s production target in 2010 will grow 21% -28%, capital investment will grow by 30%; in Oil Exploration and Production segment in 2010 capital expenditures increased 22% than in 2009, but only back to 2008 levels ; in petrochemical exploration and production segment in 2010 capital expenditures will increase by 3.4% year on year, has not yet returned to 2008 levels.

Northeast Securities researcher Wang Weigang said, oil prices rebounded after their own room for growth, coupled with the proximity to the advantage of CNOOC, CNOOC services will face great opportunities for development. 2009, oil prices fell, the whole industry in the valley, dragging down the performance of COSL increased by only 1%; 2010 CNOOC oil prices rise and growth of 30% of capital expenditure, will form a stable COSL’s operating support, and rates are still hovering on the bottom, but also to improve their later provided the space; CNOOC deepwater business development in 2011, but will continue to increase COSL.

Bank of China International judge, Jinan Diesel “profit-for-market” strategy will not be maintained too long. 2010, as drilling activity increases, the company’s product prices have started up, for the social market prices will rebound as the investment has improved.

Oil prices will also bring prospective oil shares, shares of companies such as God bring revival to open opportunities, these companies did not complete in early 2009 to determine the business objectives, but in 2010 the growth of investment in exploration and production segment will bottom out of their performance, recovery to pre-crisis levels.

CNOOC and other companies to provide helicopter services for offshore operations CITIC sea directly, it will continue to benefit from oil companies, the South China Sea expansion strategy. Offshore oil exploration and mining investment on increasing the market for helicopter operations at sea to expand capacity, even in 2009, CITIC sea operation was still flying straight up, performance increases to 15.32%.

Tags: Drives, Highgrowth, Prices, Rebound, Services

Buy Your Piece of Tuscany While Prices Are Low

Overseas property investment specialists David Stanley Redfern Ltd has something very special indeed to share with you. This opportunity is simply not to be missed if Tuscany and its far reaching kudos is the distant and far off paradise you’ve always dreamed of being a part of. Take time out to look at The Old Mill development in Tuscany’s very own Bagni di Lucca.

Bagni di Lucca is one of only 35 little known communes situated in Lucca, a province and home to less than 7000 people! And now to you too, for as little as €112,000! Remnants of its rich historical heritage can be still be found, with highlights that are almost too precious to behold!

And I’m not just talking about the 70 churches that have each left behind evidence of their prominence! The 1100 A.D. ‘Bridge of Magdalene’ or the ‘Ponte della Maddalena’ as it’s known to the locals, its medieval city wall that still to this day stands proudly intact and last but not least, an amphitheatre and its diminished glory still remains. Known to reach an astonishing 54°C, the abundance of natural warm water springs that are found here, effortlessly accentuate the provinces undeniable opulence.

The annually held Lucca summer festival plays host to some of today’s biggest names in popular music. Ranging from the likes of Eric Clapton or Santana to Massive Attack or Tracy Chapman, the fascinating array of artists it’s known to draw is incredible. It’s maybe no coincidence then that world famous composer Puccini once made this inspirational haven, his home!
With the bicycle being the number one choice of transportation (available for around €10 per day), the timeless tranquility it offers can be yours to savour! There are picturesque boutiques, restaurants and antiquity shops to be found too, offering a subtle sense of home and it’s (in comparison) harsh realities! So, what are you actually buying with your €112,000?

Hold onto your hat folks ‘cause there’s more to this opportunity still!
Situated amidst the aforementioned Tuscan spas and in close proximity to both Abetone, home of numerous ski slopes and Versilia, with its dreamy sun baked beaches, this modernised development is simply surrounded by a wealth of beauty! Protected under the ‘Belle Arte’, a law designed to maintain the precious heritage of the 19th century mill itself, these riverside apartments and their original features can be yours to appreciate and admire.

Enclosed in gated grounds, these 1 or 2 bedroom studios each include terracotta floor tiling throughout, with air conditioning to complement the climate accordingly. The internal doors are both white wood and oak and crisply finish each plastered wall! The antique style electric wiring, white ceramic wire holders and period style switches bring a sense of yesteryears glory to every spirit lifting room.

With the clean white tiling in the kitchen providing a blank canvas, it awaits your own individual personification! Will you have units installed or choose to stay in keeping with the contrasting Italian tradition? Will you have appliances installed or bring your own personal favourites from home? Whatever you choose, arrangements can be made on your behalf for the fitting of a kitchen and its units. (Allow at least €1000 extra according to specification with white goods and cooking appliances also extra). The bathroom suites are stunning too! Ceramic suites, shower trays, chrome taps and fittings all bring a pristine finish to the white tiled walls.

Terraces and outside areas for your leisure are amongst the facilities that include a swimming pool supporting sun spot amidst its many garden areas! Convenient parking and lift access are all included too, adding to the ease of your new found lifestyle! A lifestyle filled with top quality design and finish at every turn! Samples of the all the above features can be viewed on inspection trips, so don’t hesitate if you suspect that the Old Mill development could be for you! Just walking distance from spa facilities, bars, shops and restaurants, with hilltop and riverside views to set the scene, is there anything else you could hope for? Didn’t think so!

But just to be sure…there are finance and marketing services available too, with the added incentive of an estimated 25% increase in value upon its completion (approx 2 years) to surely settle any doubts you could be have about the opportunity at your fingertips. All you have to do is enquire here, before it’s too late! Find out more about Italian investment property at: www.davidstanleyredfern.com

About David Stanley Redfern Ltd

David Stanley Redfern Ltd is an overseas property specialist, working directly with developers in more than forty countries. Most properties are exclusive to David Stanley Redfern Ltd, giving an unparalleled selection of resale and new builds. David Stanley Redfern Ltd is AIPP accredited.

Please direct all media queries, requests for press information and editorial details, to Liam Bailey at: media@davidstanleyredfern.com

Tags: Piece, Prices, Tuscany

Investing – Home Prices fall in majority of the biggest markets

If you have owned a home, or any piece of residential real estate including condos, and vacation homes than you are aware of the run up in prices that occurred for a five year period that ended more than a year ago. In terms of investing, owning a home for half a century has been a wonderful way to build wealth. It is one of the few investing methods where you could actually live in your investment, while it increased in value. Most investors are not aware that from World War II until last year, there was never a single year where home prices fell on a national level, until last year that is.

Homeowners have counted on a steady annual increase in the price of the house they were living in to create a wealth effect. For many, it was their only source of forced savings. It was also a participation in the American dream – owning your own home, and living in it.

Studies are now available which show that at the end of last year, a number of housing markets declined. Actually, 149 different markets experienced the decline. Hardest hit were the East and West Coast of the US, and the Northeast cities.

In you were in Florida at all last year, it was impossible not to see thousands of super cranes going about the process of building 20 to 50 story condominiums. The vast majority of these condos were bought on speculation with the buyer signing the contract never anticipating the need to close on the contract.

We have not seen a mass number of walkways yet. These are people that signed non-recourse agreements with the builder, and are in a position to walk away from the agreement without having to write a check. They will forfeit the deposit they put down however.

Florida may well be the state taking the biggest hit in real estate. Sarasota was down 18% by year-end, while Melbourne was experiencing a 17 % decline. We are talking about actual prices being down. On a national level prices were down 2.7%.

Many analysts haven’t quite figured out what this means? Are motivated sellers holding onto residences longer in anticipation of getting their higher price later on? Are some sellers withdrawing their homes from the market, or perhaps not putting them on the market at all, awaiting prices firming up, perhaps later this year?

What about sales themselves?

In addition to prices being down, there are less actual sales taking place, which is leading to a larger inventory of unsold homes. Forty different states have reported a decline in the number of sales taking place. On a national level the number comes to a 10.1% decline in the actual number of homes being sold regardless of price. Three different localities have reported physical sales being down more than 30%. They include Nevada, Florida, and the District of Columbia. Virginia reported a 20% decline.

There were six states that reported an increase in the number of sales taking place – that’s six out of fifty. They included Alaska, Arkansas, Illinois, Kentucky, Mississippi, and Texas. There was no impact on Utah where sales were flat.

What you really need to look at is the VACANCY rate. The vacancy rate is the number of homes on the market where nobody is living in them, and they are for sale. On a national level, this number always seems to hover around 2%. At year-end, the number went to 2.7%. This is a massive increase because 2.7% is the highest it has been to in 50 years, and that’s only because they started figuring out the number 50 years ago.

You’ve got owners out there who are just waiting, and won’t sell at a lower price than the price they want. This accounts for the increased vacancy rate. On top of that you have another issue. There does come a point where a seller may have to sell. He will take what he can get, even though it establishes a new lower base from which everything else can trade.

Once this base is established than other buyers and sellers see it. The seller reacts with alarm. The buyer reacts with glee, but trepidation also because the buyer doesn’t know if prices are going lower still. This is how panic selling sets in, and no buyers. The buyers walk away, waiting for still lower prices

It’s the same as the stock market, sellers once they have seen higher prices, don’t want to sell at a lower price. Many prefer to wait, hoping, and it is hope that the price will come back. Only the forced seller will do the deal. It might be an estate, or divorce settlement, or a housing relocation that forces the actual sale. It doesn’t matter, once that sale hits the marketplace for all to see, there is a new adjustment in the real estate market.

Where’s the BIAS Now – UP or DOWN?

It is difficult to tell if the year-end numbers have wrenched out the secular excesses that have taken place in the real estate markets in the last five years while everything went crazy on the upside. There may be more to go. If you look at the stock market, most of the house builders bottomed out several months ago when they all made new multi-year lows. Since then, they have rallied nicely. If the real estate market has more to go on the downside, than these stocks will probably have to build double-bottoms before the decline is actually over.

If however, the vacancy rate picks up from here, and price declines have seen their bottom, than most of the damage is behind us. The economy overall and interest rate seem fine, so we don’t expect damage coming from a decline in GDP this year. What seems to be happening is that we are looking at a wearing down of the excesses produced since the late 1990’s in residential real estate in this country?

The geographical segments of the country that experienced the most increases in real estate prices are now the ones experiencing the declines. It’s the same story, and the story never changes, only the areas of the country being affected changes. Our work shows that prices, and vacancy rates have a way to go yet on the downside. At the same time, we believe the housing stocks may decline, but the absolute bottoms established months ago will hold. We are already off those bottoms.

Goodbye and Good Luck
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