http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/real-estate/1031-reverse-exchanges-navigating-the-rules-of-the-road.html http://www.articletrader.com/finance/real-estate/1031-reverse-exchanges-navigating-the-rules-of-the-road.html Fri, 28 Dec 2007 00:00:00 -0600
Reverse 1031 Exchanges have been structured by legal and tax advisors for years without much help or guidance provided by either the Treasury Department or the IRS. Absent any official ‘rules of the road’ to guide them, investors and their advisers could only look to related tax court decisions that had been handed down to understand how to proceed.

Fortunately, Exchangers no longer have to rely on the educated guesses of their advisors regarding 1031 Reverse Exchange rules. The rules and guidelines about how to properly structure Reverse 1031 Exchange transactions are now included within the 1031 regulations.

There are two basic types of Reverse Exchanges, referred to as ‘Safe Harbor’ and ‘Non Safe Harbor’ Exchanges. Safe Harbor Reverse Exchanges require the Exchanger to complete the subject transaction within a 180-day period from the date the Relinquished Property is sold. The Non-Safe Harbor provision is used in instances when the Exchanger, for one reason or another, is unable to find or purchase a Replacement Property to use in the planned exchange within 180 days.

In brief, there are some basic rules governing Reverse 1031 Exchanges.
The Reverse Exchange must involve an “Exchange Accommodation Titleholder” (EAT). The EAT is an independent third party that holds, or ‘parks’, the Exchanger’s Replacement Property (following or prior to the exchange period). The EAT must have a qualified indicia of ownership (evidence of an interest in real or personal property securing a loan or other obligation) from the date of acquisition until ownership is transferred to the Exchanger.

Once a qualified EAT is designated, the Exchanger and his/her advisers must determine which of several types of Reverse Exchanges will be utilized. The so-called ‘Safe-Harbor Reverse’ is an exchange where the EAT parks the Replacement Property prior to the sale of the old property. Under this provision, the Exchanger must identify the Relinquished Property (or properties) within 45 days of the parking arrangement, and must have the entire transaction complete within 180 days of the parking arrangement.

A Non-Safe Harbor transaction is a Reverse Exchange that typically looks identical in structure to the Safe-harbor Reverse, but for whatever reason, will fall outside of the Safe-Harbor provision because it can not be completed within the prescribed time frame provided under this part of the 1031 rules. In a typical situation that triggers the use of the Reverse 1031 procedure, the Exchanger is unable to sell their old property within 180 days of the parking arrangement, and therefore the time frame to qualify the exchange under Safe-Harbor are not met. While this type of transaction is not necessarily a “red flag” that automatically increases the risk of an IRS audit, it does require quite a bit more documentation and consultation between the IRS and the intermediary to assure the transaction is done properly to avoid triggering an audit.

One attractive aspect of the Non-Safe Harbor Reverse 1031 Exchange is that they give the Exchanger the flexibility to take all the time needed to locate an ideal Replacement Property to meet their needs, without the pressure of the tight time frames mandated by the more restrictive Forward 1031 Exchange rules.

Perhaps the most powerful provision that falls within the guidelines governing Reverse Exchanges is the ‘Construction/Improvement Reverse’. Use of this process allows the Exchanger to park a piece of property or land that will be built on or otherwise improved during the exchange period. It allows the Exchanger great latitude to create the exchange property that they will eventually exchange

Even though the rules controlling 1031 Reverse Exchanges are considerably more complex (and therefore more expensive) than for a traditional, Forward Delayed Exchange, the use of the Reverse Exchange provision can prove worthwhile and profitable. It’s utility is easier to understand in light of how difficult it can be in some instances to identify and acquire replacement property within the time frame prescribed by the rules governing Forward Exchanges. In these cases, many investors who have used Reverse Exchanges have found negotiating the complexity of the Reverse Exchange to be well worth the expense.

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/domestic-hot-markets-a-variety-to-choose-from.html http://www.articletrader.com/finance/real-estate/domestic-hot-markets-a-variety-to-choose-from.html Fri, 28 Dec 2007 00:00:00 -0600
The NAR found that more than one in 10 home purchases last year were by vacation-home buyers who planned to use the property themselves, a 20 percent rise over the previous year. Vacation-home buyers are mixing business and pleasure, renting out their property part of the time.

The real-estate boom that has charged the vacation-home market, due in part to relatively low interest rates and the promise of big resale value, has seen investors and regular vacationers continue to purchase second, third and fourth homes.
In most cases the attractiveness of an area is defined by such things as a beautiful setting, proximity to growing urban centers, a major city, and/or big airport. Also important are recreational opportunities, i.e. ski lifts, beaches or mountains, cultural opportunities, decent weather.

Using some of these criteria, 2ndhome® pinpointed a few of the hotter spots across the country for vacation and second homes:

Brigantine, NJ: A barrier island north of Atlantic City, with an easy connection to the Atlantic City Expressway and an easy drive from Philadelphia, New York and Washington.

Sayville, NY: A long time summer haven for New Yorkers, it has attracted many second home buyers in response to growing frustration with traffic congestion in the Hamptons.

Bald Head Island, NC: Reachable only by ferry, and automobiles are prohibited. Plenty of white sand beaches, salty marshes and protected forest land. Development is allowed on only 2,000 acres of the 12,000-acre island.

Newport, RI: Buyers from the Boston New York areas are looking here as prices in the traditional markets of Nantucket, Martha’s Vineyard and Cape Cod have gotten too pricey.

Beaufort, S.C: Featured in movies like “The Big Chill” and “Forrest Gump,” and written about by former resident Pat Conroy in the pages of “The Prince of Tides” and “The Great Santini”, Beaufort boasts great fishing, and is referred to as “The Queen of the Carolina Sea Islands”.

Myrtle Beach, S.C: Continues to enjoy its status as having one of the nation’s best beaches and best retirement towns, with home prices rising. With 120 golf courses it draws 14 million visitors annually.

Pompano Beach, Fl: Lots of terrific beaches, and deep water dockage for boaters. Less expensive than Broward or Fort Lauderdale.

Daytona Beach, Fl: Best known for the international raceway, and the Daytona 500 auto race. Eight million visitors annually. Home prices are up.

Charlevoix, MI: Small town that features golf courses and plenty of water opportunities on the shores of Lake Michigan and Lake Charlevoix in northern Michigan;

Park City, UT: A former Olympic site which offers an outstanding playground for skiers and other winter sports enthusiasts.

Jackson Hole, WY: Plenty of wide open spaces, with ranch style living, cowboy charm, and great skiing, snowmobiling and hiking, and the beauty of two national parks, Yellowstone and Grand Teton. Wyoming has no state income tax, capital gains or inheritance tax, which results in people buying a second home then making it their primary residence for the tax benefits.

Texas Coast: This is a strong second home market area, somewhat as a result of no sub-prime mortgage problems, homes not over-appreciated, and having a strong and growing economic base.

Sedona, AZ: The red rock buttes of Sedona have long attracted visitors, and the area has become a hot second-home destination. The town has a broad cultural presence, with art galleries and live theater. Many come here believing that the town sits on some of the Earth’s strongest vortexes, or energy centers.

Sunriver, OR: This resort area is close to Bend and the Mt. Bachelor ski resort. It also features whitewater rafting, hiking and skiing.

Port Townsend, WA: This Victorian seaport remained almost untouched for most of its long history until being “discovered” by Seattle yuppies in the 1990s. Quaint, relatively mild weather and proximity to Olympic Peninsula have enhanced its appeal for retirees and urban folks.

South Lake Tahoe, CA: The ‘little sister’ to America’s largest alpine lake, Lake Tahoe, Nev., this community is coming into its own. Two new Marriotts and a planned convention center are putting it into the spotlight.

Oceanside, CA: This area has some of the lowest beachfront prices in San Diego County.

Ashland, OR: Great weather, scenery and rich cultural events have caused Ashland’s home values to explode in recent years.

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/international-hot-markets-the-canadian-maritimes.html http://www.articletrader.com/finance/real-estate/international-hot-markets-the-canadian-maritimes.html Fri, 28 Dec 2007 00:00:00 -0600
If you have clients who are selling their homes in the U.S. and are looking for vacation or retirement spots along the Atlantic Seaboard, you may want to develope working relationships through referral to real estate professionals in any of the extraordinary Provinces in Maritime Canada. As a means of explaining the growing allure of this area to buyers from the U.S. and the European Union, here’s an overview of what’s happening north of the U.S.- Canadian border.

Past objections about the Maritimes being too cold, too distant or too isolated have almost vanished, as prices for U.S. coastal property rose steeply during the past housing boom. Now they are drawing buyers from as far away as Texas, California and Florida.

Ornate Victorian era homes, quaint oceanfront summer cottages, and dramatic oceanfront property are still available at comparatively reasonable cost in many coastal communities in New Brunswick, Prince Edward Island and Nova Scotia.

If you are driving to points in the Maritimes from major east coast cities, you are in for a long drive. This has not deterred intrepid individuals and families from making the trek. Why? Because there is beauty, tranquility and friendliness waiting at the other end. But the clincher, for many who have sought and found their dream spots on the water in Prince Edward Island, New Brunswick or Nova Scotia is the price. It’s simply no contest between the price/value equation of property and vacation homes on the east coast of the U.S. versus any of the Maritime Provinces.

While some areas are more desirable and pricey than others in eastern Canada, the price differences between comparable properties in the U.S. and Canada are striking. This holds true despite the recent fall in the value of the U.S. dollar to the Canadian dollar (for the first time in 30 years, the Canadian dollar is trading higher than the U.S. dollar).

The variety of waterfront property found in the Maritimes is extraordinary. New Brunswick coastline fronts on the Bay of Fundy, known for the highest tides in the world (over 40 feet at peak tidal periods). These high tides have carved the rocky coastline in dramatic ways, the effect and beauty of this tidal action is heightened in some areas by areas of red rock outcroppings along the coastline. New Brunswick, while less well known than the other Maritime Provinces, has an advantage over the others, from the perspective of U.S. buyers.

It’s closer. Yet closer is a relative term. The nearest point in New Brunswick is still almost 800 miles north of New York City. While this is a long drive, it is no longer than many northeasterners drive to reach the Carolinas. And the drive north unlike heading south, is devoid of the major urban centers and traffic jams that often occur on the east coast corridor.

There are great properties available for reasonable prices along the New Brunswick shore, including the following property, which consists of 200 acres on the Northumberland Strait (http://www.hawkins.nb.ca/L05-95.htm). It has stunning water views, and includes sandy beaches and dunes. It also includes an abandoned homestead with barns. It’s offered for $559,000 (CDN) by Broker John Coates, of Hawkins Realty, Ltd. Of Fredericton (http://www.hawkins.nb.ca). The Northumberland Strait separates New Brunswick and Prince Edward Island, and offers some of the warmest ocean waters north of the Carolinas (up to 75 degrees in August versus 64 degrees in coastal Maine).

On the far side of the Bay of Fundy from the New Brunswick shore is the western shore of the large peninsula of Nova Scotia, which is referred to as Canada’s Atlantic playground. Lovely coastal port towns and small cities feature a high proportion of older New England-style houses. Many Victorian era homes dot its western shore, in the towns of Lunenburg and Truro, and many others.

The southern tip of Nova Scotia offers high-speed car ferry connections with points in Maine. From this point, one can choose to travel up the eastern, Atlantic Coast, or the western, Bay of Fundy coast. In either direction you’ll find villages and towns with great waterfront properties, old-fashioned hospitality and a wide range of housing stock, from 19th century in-town homes, outlying farmsteads to waterfront and water-view open land. The size of the Province often surprises first-time visitors. The topography ranges from the rugged coast up into extensive inland agricultural areas and mountains and highlands of stunning beauty.

The eastern shore of the Province fronts on the open Atlantic. The winding coastline features innumerable coves and bays, fishing villages and rocky headlands that offer spectacular views of the Atlantic Ocean. Halifax, a thriving, cosmopolitan city, sits on one of the best natural harbors in the world. It is known, among many other distinctions, as being the final resting place of the unidentified remains from the Titanic disaster. An active market for high-end condominiums draws U.S. buyers looking to enjoy this friendly hip, dynamic port city with its dramatic waterfront that is only minutes away from coastal villages that are a throwback to the 19th century.

David Callan, of MacKay Realty (http://www.mackayrealestate.com) in Lower Wolfville, Nova Scotia, has listings that exemplify the proposition that waterfront homes in Nova Scotia are available at what would be viewed as extremely reasonable by many U.S. buyers. Here’s an example: An oceanfront compound in picture perfect condition located in Belliveau Cove, with a large lot and priced at $595,000 (CDN).(http://www.wolfvillerealestate.com/147index.html) Another listing, located in Harbourville on the Bay of Fundy, offers a great house with attached studio, broad decks with harbor views, a forty foot wharf and comes with three boats included, for $259,500 (CDN): http://www.wolfvillerealestate.com/2593index.html While there are some buyers form the U.S., David observes that many more of his foreign business comes from the U.K., based in part of the strength of the British pound.

Prince Edward Island, (also known as PEI), is 140 miles long and located in the deep blue waters of the Gulf of St. Lawrence. It can be reached via the Confederation Bridge, an eight-mile span that crosses the Northumberland Strait from northern New Brunswick. Known as the Garden of the Gulf, it’s an island jewel that is the smallest of Canada’s Provinces in both land area and population (except for the sparsely populated northern territories). The coastline of the island consists of a combination of long red and white sand beaches, dunes, red sandstone cliffs, salt water marshes and numerous bays and harbors.

The island has a large tourist economy, along with a fishing industry and a significant agricultural sector. Still largely rural, the island offers expansive views along the coast out over red-soiled wheat and potato fields that extend down to azure blue shores, with red sandstone beaches and headlands. Numerous lighthouses protect ships plying the rocky perimeter of the island. Altogether, PEI is almost a picture-perfect getaway.

Here are a couple of examples of great oceanfront homes in PEI. Nicolle Morrison, a broker with Century 21 Northumberland in Summerside, PEI, offers a unique home on over three acres, with 800 feet of oceanfront. This 1,900 square foot, three bedroom, two bath home incorporates an old lighthouse. It’s on the market for $349,000 (CDN). (http://www.mls.ca//propertyDetails.aspx?propertyid=5739402). Here’s another oceanfront property in Hampton, PEI. The original home was built in 1819. It’s a spacious ‘heritage home’ that consists of 3168 square feet, with five bedrooms, and two baths on 3.85 acres with 249 feet of ocean frontage. It being offered at $349,000 (CDN). (http://www.mls.ca/PropertyDetails.aspx?PropertyID=6118992). It is represented by Jacqueline McKeeman, of Royal LePage Peters & Lank Realty, in Charlottetown (http://www.lank.com).

The three Maritime Provinces present opportunities for vacation homeownership, investment, and for baby boomers seeking great places in which to spend some of their post-retirement years. To the extent that you have clients who fit any of these profiles, there are opportunities for helpful and profitable cross-border relationships that you can forge to take advantage of the rapidly shifting U.S. demographics combined with the reasonably-priced properties to be found in Eastern Canada. View more properties like the ones mentioned here at the nationwide MLS for Canadian properties, http://www.mls.ca. Who knows, with the Canadian dollar’s growing strength against the U.S. dollar, you might find some Canadian prospects by referral from north-of-the-border pros that might be seeking a great property in the U.S. for their vacations, investment or retirement? Nothing ventured, nothing gained.

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/how-to-sell-without-selling-tapping-into-your-potential.html http://www.articletrader.com/finance/real-estate/how-to-sell-without-selling-tapping-into-your-potential.html Fri, 28 Dec 2007 00:00:00 -0600
There were a number of informative and engaging speakers presenting on topics from the condo hotel market, to the ins and outs of buying in Mexico. One of the most popular and charismatic of these speakers was Larry Kendall.

For those of you who missed the event, and who haven’t yet had the opportunity to be introduced to Mr. Kendall or his business philosophies, here’s your chance to catch up.

With a Masters Degree in Business Administration from Kansas Sate University, Mr. Kendall has been working in the real estate market for over 30 years. In 1976, Mr. Kendall and eleven other Realtors® founded The Group, Inc. (http://www.fortcollinsrealestate.com). The vision was to create a company where each individual was an equal owner. Today, with over 240 sales associates in seven offices located throughout Northern Colorado, The Group Inc. has grown into a highly successful real estate firm with a model that stands as testament to the true power of team work.

Together, with the other partners of The Group, Inc, Mr. Kendall developed a sales system known as “Ninja Selling” (http://www.ninjaselling.com). With a focus on customer satisfaction, the true success of “Ninja Selling” lies in the power of focused and combined energies of all parties, both on the buying and the selling side.

If you’re looking to become more involved in the second home and investment home market in your area, or if this has been your specialty for years, by now you’ve done your research. You know the demographic of the second home buyer (the baby boomer) and you are familiar with some of the best forms of target marketing to reach potential buyers in this demographic (through niche websites and informational and educational events).

With the market in flux, it may be time once again for you to fine tune your selling style for this particular market. The following are the highlights from Mr. Kendall’s presentation at the RSHS, titled, “Connect & Communicate”

Become a Proactive Trusted Advisor
Research indicates that baby boomer buyers do not buy on a whim. They want all of the facts. They want to be assured that the person who is guiding them through their real estate investment(s) knows what he/she is doing. It’s your job to become your client’s most trusted advisor. How is this accomplished? Firstly, dress the part. Your outward style reflects your trustworthiness to a potential buyer. Reflect your personality and unique style with your dress, but make sure you are always sharply turned out. Confidence. The more confident you are about what you are selling the more you will convey that you are a reliable source. And remember, convey your confidence without condescending! Above all, know your market. If you can speak intelligently on your local market, and the market for real estate investment as a whole, a buyer will be more likely to feel at ease with you and allow you to help them find their dream vacation home.

Connect by Building Rapport
Mr. Kendall maintains that the first two minutes are the most important when you’re first greeting a potential buyer. This is your opportunity to make that ever important first impression a great one. And to do this you have to know how to ask the right questions during those initial minutes spent “getting to know you”.

Ask the Right Questions
What’s the best way to spend those first few minutes of introduction? The best place to start is by asking the right questions. Mr. Kendall refers to the F.O.R.D model when asking the right questions of a potential buyer that you are meeting for the first time. F.O.R.D. is easily translated into questions about Family/friends, Occupation, Recreation, Dreams. The theory here is that you’re more likely to build trust and confidence with a potential buyer by asking questions that will demonstrate an interest in who they are. This approach stands in sharp contrast to the aggressive approach of presenting a potential buyer with listings before you know who they are or what they’re unique needs might be. This initial conversation is for you to listen! “Stop telling and start asking”, as Mr. Kendall puts it.

Once you have begun the process of asking the right questions you can ask the potential buyer’s permission to help them find a solution to their real estate needs.

Establish what kind of buyer you are working with and what their unique needs will be in terms of the process. To do this you will simply need to ask them questions like, what are their past buying/selling experiences? What did they like about those experiences? What did they dislike? What’s most important to them during the buying process?

By asking the right questions not only will you have demonstrated your willingness to go above and beyond for a potential buyer, but you’ve also gathered a large amount of information which will help you make the viewing and buying process much smoother and more successful for all parties involved.

Demonstrate Knowledge
Based on the question and answer process defined above you can begin to demonstrate your knowledge on the market that you’re selling in and/or a particular service that you offer that might be of importance to a particular potential buyer.

Present Your Message Powerfully
Now that you’ve begun to build a solid foundation with a client, you’re ready to pitch the properties you have available that meet their criteria. The effectiveness of communicating your product is based on three basic modes of communication. In terms of communication, you are 55 percent effective in person, 38 percent effective over the phone, and 7 percent effective in writing. If you have to show properties over the phone, make sure the potential buyer has visual aids in front of them during the call, as 60 percent of people are visual learners. These visual aids are most effective in chart and graph form and can cover information from local market analysis, property appreciation rates, and rental income potential etc. Mr. Kendall says that “showing is better than telling, and asking is better than telling.” The bottom line? Listen, Listen, Listen!

How to Attain “Green Light Selling”
In Mr. Kendall’s experience, most buyers have internal dialogues that say “No” to a buy based on three basic fears, 1. that they are wasting their time, 2. that they are missing a better opportunity somewhere else, and 3.that they are paying too much. Address these fears as early as possible in your dialogue with a client and you’ll pave the way to a successful sale.

Success is in the Process
Be confident and knowledgeable in your market. Learn to listen before you speak. And when you are speaking, ask questions. Create trust and develop honest and open communication. Listen to your client and you’ll learn everything you’ll need to know to close the sale. By selling without selling you’ll build your credibility and attract more clients with your success.

For more information on these and other techniques by Larry Kendall visit http://www.ninjaselling.com.

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/reverse-mortgages-tapping-equity-for-a-second-home.html http://www.articletrader.com/finance/real-estate/reverse-mortgages-tapping-equity-for-a-second-home.html Fri, 28 Dec 2007 00:00:00 -0600
New data from the Department of Housing and Urban Development (HUD) reveals that more than 300,000 seniors have used the federally insured Home Equity Conversion Mortgage or Reverse Mortgage, to convert the equity in their homes into cash without having to move. Even though this is a significant number, it represents only about one percent market penetration. In the first quarter of 2007 alone, there was a $19 billion increase in senior home equity. This increase was reflected in a 0.4 percent increase in the Reverse Mortgage Market Index (RMMI) to 205.6 from 2o4.7 in the previous quarter.

The RMMI is a new quarterly index, launched in July 2007, created to measure the proportion of reverse mortgages in the overall mortgage market, The index reflects the current value of senior home equity in the U.S. It’s the first market indicator that collects critical market, housing and demographic data to track and project reverse mortgage market potential. The index takes into account the demographic shift as baby boomers begin to turn 62. The average home equity in a senior-owned household today is estimated to be about $230,000, according to the Hollister Group of Washington D.C. that helped to create the index, with assistance from National Reverse Mortgage Lenders Association (NRMLA, http://www.nmrlaonline.org).
According to the RMMI, the amount of home equity held by U.S. homeowners aged 62 and older grew by an estimated $19 billion in the first quarter of 2007 to $4.3 trillion. By 2030, senior home equity is forecast to grow to $37 trillion.

What do these statistics mean for the real estate industry? It shows that there is a large pool of equity available to baby boomers. A significant proportion of this equity may well end up being used by boomers to purchase second (or third or fourth) homes. If you position yourself and your firm as an expert in how to tap your client’s equity via a reverse mortgage, your company could gain more clients and sales that will be derived from this growing market segment.

Until recently, reverse mortgages have been used almost exclusively for primary residences and were only available through a few regional banks. There is a new trend emerging, with more lenders entering the market, including some national lenders offering them for second homes, as well. The trend may offer a welcome alternative to refinancing for those who want to extract equity from investment property without selling it. With lenders now beginning to permit more reverse loans on second homes, this type of mortgage arrangement should prove to become exceedingly popular.

A reverse mortgage to purchase a second home could make much more sense for your clients than refinancing through a second mortgage or using some other vehicle for tapping equity. It would allow your clients who own more than one home to protect their primary residence from being used as collateral.

Unlike traditional second mortgage financing, taking out a reverse mortgage poses no risk of foreclosure to your client, because there are no payments being made to the lender. Meanwhile, your clients second home can provide a steady stream of income, which further ensures that their retirement years will be more financially secure and stable.

For more information visit:

http://www.reversemortgage.org/

http://www.ncoa.org/content.cfm?sectionID=11&detail=1659

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/advertising/rich-media-advertising-are-you-getting-results.html http://www.articletrader.com/business/advertising/rich-media-advertising-are-you-getting-results.html Fri, 28 Dec 2007 00:00:00 -0600
The answer to the first is very important. The second, not so much (DHTML, by the way, means Dynamic HyperText Markup Language – it’s basically just HTML code that does something, as opposed to just sitting there looking pretty...or not so pretty. AJAX stands for Asynchronous JavaScript and XML, which is an “architecture” for creating web applications).

When people used to think about dynamic online advertising, they usually thought (and sometimes still think) of gaudy flashing banners that seem to scream “CLICK ME! CLICK ME!” or annoying pop-up ads that seemed to multiply the faster you closed them. But even worse was the bait-and-switch; “Click here to get a free MP3 player!” only to be sucked into a never-ending stream of affiliate ads and offers (I sometimes wonder if anyone ever persevered all the way through and actually got the MP3 player?). Because of this, banner ads got a bad name in a lot of circles.

But the days of hideously ugly, annoying banner ads are definitely numbered. Many respected sites now have strict quality and design standards for ads that they’ll accept on their sites. Many advertisers are now developing unique and innovative ways to use their standard banner ad shapes and sizes.

In 2005 Mercedes-Benz did an elaborate rich media campaign on Edmunds.com that used an “avatar” of a tour guide character. When a user clicked on one of the many banner ads on the Edmunds site, the avatar would come out and deliver a customized sales pitch based on where a user was currently on a site, as well as their on-site behavior. Mercedes-Benz automated the process of figuring out what their prospects were looking for, whether is was a new car, an SUV or a luxury vehicle.

This type of customized advertising is getting less expensive all the time as more developers and programmers become proficient in the technologies being used.

Another prominent trend is to have “floating” ads that appear over content on a page, but aren’t in another window like a traditional “pop-up” ad. These ads are nearly impossible to block, most consumers aren’t actually bothered by them and they have excellent conversion rates. If these types of ads are available on a site that targets the demographic you’re after, they may give you the best bang for your buck.

Whether you’re just looking to revamp your banner ads or launch a completely new online marketing campaign, the most important thing is to consider what your prospects are likely to be looking for. If you figure out a way to cater to that more effectively than your competition, better results are almost guaranteed.

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This article was originally published in the Winter 2007 issue of 2ndhome® Specialist, a digital magazine for real estate professionals specializing in the second home and resort markets.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/condo-hotels-a-hassle-free-option.html http://www.articletrader.com/finance/real-estate/condo-hotels-a-hassle-free-option.html Thu, 27 Dec 2007 00:00:00 -0600
The real estate markets may have slowed, but we all must remember that we have been setting records in sales volume. The slow down is a reversion to an average historical pace.

Unlike traditional condos, condo hotels have not been over-built or over supplied. In the Miami area alone there are 60,000 traditional condominiums on the market or coming to market. The national supply of condo hotel units is less than this figure. The 3 largest markets for condo hotels in The United States is Las Vegas, Orlando and Miami; these are also three of the strongest hotel markets with high demand from baby boomers for retirement residences. 78.2 million baby boomers will reach retirement age in the next 14 years. The demand for condo hotel is just beginning to awaken and supply is a fraction of the overall second home or hotel development market.

Also, unlike traditional condos, condo hotels can produce hassle-free rental income.

The hotel market is marking another record year and demand is growing, this market underpins the potential investment value of condo hotel sales. If supply of new hotel product is constrained by construction costs and as many existing hotel rooms are converted to condo hotel ownership, the economics for condo hotel owners could improve.

As mortgage lenders to the condo hotel consumer, we have had the opportunity to get to know many buyers and learn first hand their motivations and demographics. For the most part our clients have been real estate investment minded and savvy second home buyers who are seeking a second home for less than two to eight weeks per year for personal use. They have owned other forms of rental properties, and many have invested in commercial real estate. They often site the desire for appreciation and tax benefits before a ‘cap rate’ but they often have a thorough understanding of the income potential of condo hotels.

We are seeing a rise in the number of buyers who are using funds from a 1031 exchange to purchase a condo hotel unit. The average age of our borrowers is 51 years old, solidly in the baby boomer demographic. The majority are self-employed or with an average of 13-years in their present employment positions. Notably, a majority of these buyers have expressed interest in purchasing more than one condo hotel unit in various destinations, for personal use, diversification and to stagger seasonal cash flows from properties.

For over 20 years, the resort market for condo hotels has proven a viable alternative to traditional condominiums and second homes. The most numerous examples are in ski country, where families have purchased and used condo hotels as second homes with a rental program to offset costs. But this next generation of condo hotel buyers may look different as more people understand the advantages to this real estate product.

Broad acceptance of condo hotel as a second home market has yet to fully develop. The media is full of conflicting stories about condo hotels, and consumers are reasonably skeptical. The broad market is not the early adopters of any new concept, the niche buyers are the first consumers to embrace any product, and condo hotel is proving no different.

Some projects have niche themes to attract a specific narrow demographic of buyer. For instance, college alumni who wish to have condo hotel ownership for sporting events are purchasing. Downtown pied-a-terre locales that appeal to suburbanites or corporations who frequently send employees to a city center condo hotel destination are just beginning to come to market and attracting a new buyer class. Resorts that offer lifestyle services and amenities are finding ‘member-minded’ buyers who may live around the corner. These new consumers will define the next phase of this industry.

A condo hotel is more than real estate, it’s a lifestyle purchase, a long-term investment and a trend that is just beginning to identify its demand.

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Bob Waun is the CEO of Vacation Finance, America’s First Second-Home Lender. Please visit www.vacation-finance.com. This article was originally published in the Winter 2007 issue of 2ndhome® Journal, a digital magazine for owners, buyers and sellers of vacation homes and investment properties.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/florida-vacation-homes-buying-and-owning-in-the-sunshine-state.html http://www.articletrader.com/finance/real-estate/florida-vacation-homes-buying-and-owning-in-the-sunshine-state.html Thu, 27 Dec 2007 00:00:00 -0600
But, should current home prices and real estate market mania be the only factors under consideration?

Of course not, so let’s ignore prices for just a moment and explore some of the other factors that need to play into your Florida real estate purchase decisions today. I’m talking about things like:

• finding the best part of Florida for you
• how to choose the right type of community
• real estate taxes and property insurance, and
• maintaining your new home in Florida while you’re away

Consider this your road map to buying a second home or your eventual retirement home in Florida today.

Finding The Best Florida Location for You
One of the most common mistakes people make when buying in Florida is finding a home, falling in love with it instantly, buying it or having it built, and then waking up after the first night in it and realizing the surrounding area has nothing to offer you in terms of your pastimes or interests.

The home is important, of course, but you should spend just as much time investigating the surrounding area as you do looking for the perfect home. You should ask yourself if the area and surrounding community offer the types of activities you enjoy and the level of shopping, dining, and other services you're used to or expect.

For Jeff and Laura Harris of New Hampshire, choosing the town of Port Orange on the east coast of Florida for their second home was an easy decision. Jeff says, “My brother Dan has owned a house 10 minutes away for a couple years prior to us moving down. We’d been to visit him several times and fell in love with the area. Plus with him nearby we’ve always got someone to hang out with.”

Also, think about family members you hope to come visit, your kids and grand kids. Is it more important to be 10 minutes from Disney World, or do they prefer to spend most of their time relaxing on the beach? The last thing you want to do is move to Florida leaving your kids and grand kids behind, and then nobody wants to come visit you because there's nothing to do.

What kind of community is right for you: Choosing the right kind of community for your retirement or second home plays a close second to choosing the right place.

There are gated communities, maintenance-free communities, active-adult communities, manufactured home communities, golf communities, condominium communities, as well as combinations of each of these types. You should seriously consider what type of community and what combination of community amenities will be right for your lifestyle, because the type of community your home is in will determine a lot of things such as your enjoyment and quality of life, not to mention your home’s future value if that’s important to you.

New Hampshire’s Jeff and Laura chose a maintenance-free, gated community for their second home. “We liked the fact that everything would be taken care of for us while we are away. We didn’t lose any sleep wondering if the yard had been cut or if the shrubs had been trimmed and it was all covered in our monthly assessments. Plus the security gates gave us an added peace of mind.”

The community Jeff and Laura chose also included a clubhouse, the fees for which account for nearly one-third of their monthly assessment. Laura says, “it’s nice knowing it’s there if we want to use it, but I can’t really say we get our money’s worth out of it.”

Another important consideration when choosing a community is the restrictions that you’ll be expected to abide by. These can either work in your favor, or against you.

For example, if your neighbor wants to paint his house school bus yellow, most communities with restrictions would require an architectural board’s approval before your neighbor could go through with his painting project, and his request would hopefully be denied.

But lets suppose for a moment that part of your Florida daydream includes a 24-foot motorboat, but after towing it home you realize it won’t fit in your garage. If you think you’ll just stick it in the backyard or park it in the driveway, you might have a problem in most communities with restrictions.

But in either case, these restrictions are an important part of maintaining order in a community and protecting the aesthetics as well as home values.

Insuring your piece of paradise
Homeowners insurance rates, especially in coastal areas of Florida, tend to be higher than what you might be used to, and coverage can be hard to find depending on the location, age of the home and the type of construction. This is ultimately a result of the 2004 hurricane season when no less than four hurricanes affected the Florida peninsula.

“The insurance issue definitely played a role in our choice of neighborhood. We knew the further inland we chose, the better off we’d be as far as rates were concerned,” said Jeff.

Another reality you'll have to contend with is that of the 200 or so private homeowners insurance companies in Florida, less than 20 percent are writing new policies. That said, insurance is available, you may just have look a little harder than you might have expected.

So, where should you start? After asking for referrals from your real estate agent or friends and family already living in Florida, you should also be sure to check the Florida Market Assistance Program at www.fmap.org. This is a referral service created by the Florida legislature to connect those who need homeowners insurance with those who are writing new policies.

If all else fails, you can always turn to Citizens Property Insurance at www.citizensfla.com, the state run "insurer of last resort". Rates will be higher than in the private market, and this is by design so that the government doesn't compete with private insurers. So, in the end you'll pay more but it beats going uninsured.

One last insurance recommendation is flood insurance. Most people neglect to get it, as its not required in all areas, and if you own your home free and clear, it’s not required at all. But, no matter if it’s required in the area your Florida home is in or not, you should definitely consider it. You’ll find that the rates are fairly reasonable, especially in areas where coverage is not required.

Property Taxes
In most parts of the state you should expect to pay between 1.5 and two percent of your home’s assessed value when you get your tax bill. The best way to get an idea of what your tax bite may be once you own a home in Florida is to contact the local property appraiser’s office.

Their job, besides placing a value on all property in their area, is to provide residents and prospective homeowners with the most current property tax information. You can find links to most county property appraiser’s websites at the Florida Department of Revenue website at http://dor.myflorida.com/dor/property/appraisers.html

Homeowners who qualify for the homestead exemption by making Florida their primary residence enjoy a $25,000 reduction in the assessed value of their home, which affords the average homeowner about a $500 savings each year on their tax bill. A new proposal to increase the amount of homestead exemption to $50,000 will come up for a vote in January 2008.

Another part of the proposal up for vote in January is a cap of 10 percent on increases in assessments for homes owned by people who are not full-time residents. Many politicians and real estate agents lobbied for a five percent cap on non-homesteaded property (homesteaders currently enjoy a three percent cap) but they were ultimately unsuccessful.

But unless Florida home prices spike again in the near future, this shouldn’t be a major issue for those of you who are not planning on making your Florida home a permanent residence.

Home (left) Alone
Another thing to consider when purchasing a second home in Florida, is what will become of it when you’re hundreds or thousands of miles away in another state. How can you be sure that everything is taken care of while you’re away?

Assuming you don’t have the convenience of having a friend or relative in the area like the Harrises did, you could opt for a maintenance-free community, or even a townhouse or condominium. In these types of communities you’d know that the exterior of your home was being maintained, and you won’t have any angry looks from the neighbors when you come to visit because your grass is three feet high.

Another option is to hire out the work of maintaining the exterior of your home. The only problem with this is that things happen, people get sick or don’t show up or just go out of business. How would you know if this were to happen to the person in charge of maintaining your home?

The business of “Second Home Concierges” is thriving because so many people are opting for the second home lifestyle. A concierge of this type would typically be given a key to your home, and would perform routine checks of the homes exterior and interior, making sure necessary maintenance is taken care of for you. Fees and the level of services performed vary by area, and you can start your search for businesses offering this service in the pages of this magazine, as well as online.

I hope I’ve given you some important things to think about when considering Florida for a second home or your eventual retirement home. It’s a great place to live, and it’s much more enjoyable when you have the knowledge to make the most of the experience. Follow the information I’ve outlined here and you’ll be well on your way to enjoying the Florida lifestyle you’ve dreamed of.

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Ryan Erisman is a licensed real estate broker and the author of Florida for Boomers: A Guide to Real Estate. For more information please visit floridaforboomers.com. This article was originally published in the Winter 2007 issue of 2ndhome® Journal, a digital magazine for owners, buyers and sellers of vacation homes and investment properties.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/home-and-family/home-improvement/green-remodeling-eco-friendly-options-for-your-second-home.html http://www.articletrader.com/home-and-family/home-improvement/green-remodeling-eco-friendly-options-for-your-second-home.html Thu, 27 Dec 2007 00:00:00 -0600
Economic and environmental realities are driving homeowners to look at how to maximize resource usage and to decrease the waste stream generated by construction projects. More of us are asking if there are better ways to remodel that can enhance health, reduce energy consumption, lower maintenance costs and minimize environmental impact. There is. It’s called green remodeling.

What is green remodeling? Essentially, it is the convergence of three basic principles:

• Increasing energy efficiency
• Improving indoor air quality
• Conserving natural resources

Perhaps the best way to describe the philosophy of green remodeling is that it is a form of applied common sense. Remodeling and renovation projects offer myriad ways to reduce, re-use and recycle. Salvaging and re-using materials can result in lower cost of materials and in the reduction of environmentally damaging waste disposal and lowering disposal-related fees. As a bonus, the use of salvaged materials, such as wood flooring, doors and antique fixtures can also add beauty and style to a newly remodeled space.

In their book, “Green Remodeling”, co-authors David Johnston and Kim Master refer to green remodeling as “Changing the World, One Room at a Time” (available at www.amazon.com), According to the authors, you can do this by employing green building processes and materials in remodeling projects, because going green “is more energy-efficient, more resource-conserving, healthier for occupants and more affordable to create, operate and maintain”.

Many products and practices used in remodeling a home can have negative effects on the environment. Green remodeling requires that thoughtful attention is given to minimizing or eliminating products or practices that could cause environmental damage or that could harm occupants during construction, or after the remodeling project is complete.

Since 1993, The U.S. Green Building Council (USGBC) www.usgbc.org/ has developed and administered a Green Building Rating System. USGBC provides practical information on applying green building standards to building projects. The adoption of green practices is seen as a way homeowners can meaningfully contribute to efforts aimed toward reducing global warming. There are many green alternatives to standard practices that USGBC recommends:

• Use wood alternatives like engineered lumber, or Forest Stewardship Council (FSC) certified wood harvested from managed forests (www.fscus.org)

• Employ renewable products like bamboo for flooring

• Reduce the use of paint and cleaning products containing high levels of volatile organic compounds (VOC’s)

• Use natural fiber rugs and fabrics

• When available, use recycled or high recycled-content materials

• Plant trees to provide shade and wind protection, saving money on heating and cooling costs

• Green up your yard using native plants that are adapted to local soil and weather conditions, thereby lowering maintenance and reducing the use of chemical pesticides, fertilizer and irrigation

• Shop locally. When practical, use locally produced products to reduce carbon emissions caused by long distance transportation

When planning a remodeling project, bear in mind that it is both easier and cheaper to incorporate green materials and strategies in the early stages, rather than adding them piecemeal, or as an afterthought, when in the thick of the project.

Here are some green remodeling strategies to consider.

Energy Conservation
Ways to increase energy efficiency can range from simply adding an insulation blanket to your water heater and insulating hot water pipes to replacing older appliances with new Energy Star-rated appliances. Replacing a standard storage water heater with a so-called tankless water heating system can result in increased efficiency and significant monthly utility savings. Additional savings can be achieved by simply switching from incandescent to fluorescent lighting, which reduces energy consumption for lighting by up to 75 percent. Thanks to the Energy Policy Act of 2005, homeowners who choose green alternatives when updating their homes could be eligible for tax credits to offset some remodeling costs. For details on available credits, go to the following website: www.energystar.gov.

If your remodeling project includes new exterior siding, consider having a professional evaluate the insulation in your exterior wall cavities and the energy efficiency of your doors and windows. If deficiencies are found, insulation materials such as cellulose, rock wool and some forms of foam can be installed from outside, without damaging interior wall surfaces. Adding a house wrap under new siding will markedly reduce air infiltration and exfiltration, saving on both heating and cooling costs. Tests commonly performed when evaluating the thermal efficiencies of your home can diagnose the ability of your wall, window and door systems to prevent heat loss and air infiltration. A primary technique to evaluate energy efficiency involves the use of ‘blower doors’ to test air inflow and outflow. http://www.homeenergy.org.

Replacing old single pane windows with insulated glass can save up to 25 percent on heating and cooling costs. The highest level of savings can be achieved by using so-called low-e glazing (for low emittance). Low-e coatings are microscopically thin, metal or metallic oxide layers deposited on window or skylight glass primarily to reduce radiative heat flow. Low-e glass units are available that promote high, moderate or low solar gain, depending on your climate.

Indoor Air Quality
When an older home is tightened up to promote greater energy efficiency, it’s imperative to assure that adequate ventilation is available in order to assure healthy indoor air and to prevent interior moisture build-up.

Current research indicates that our indoor air is often more polluted than outside air. This increased concern is prompted by the realization that most people spend 80-90 percent of their time indoors.

There are many sources that can negatively impact indoor air quality. These include pollutants from the outdoor environment, and the toxic chemicals used inside the home from a variety of sources. Indoor air is often further degraded by other pollutants introduced by occupants, such as tobacco smoke, smoke or particulates emitted by home appliances that burn wood, coal, kerosene, and propane (or natural gas). Other significant sources of toxicity come from sealants, cleaning products, paint, asbestos, damp carpets or fabrics, and certain pressed-wood cabinet and furniture products that release chemicals into the air. In some areas, radon (a naturally-emitted subterranean radioactive gas found in some regions) can cause serious health problems. www.dspinspections.com/radon_facts.htm

Green remodeling seeks to remedy these problems with a combination of air filtration, ventilation systems and choosing to use the least toxic product options. An overview of the problem and possible solutions are available from the Environmental Protection Agency www.epa.gov/iaq/pubs/insidest.html

Reduced Material Waste and Resource Conservation
As a rule, remodeling is more eco-friendly than new construction, since fewer materials and resources are consumed to remodel an old house than to build a new structure. Since 30 percent of materials disposed of at landfills typically consist of construction debris, there is a lot of room for improvement in home improvement.

Even though remodeling generally uses fewer materials than new construction, it can generate a significant waste stream. This results in 136 million tons of waste annually. Planning how salvaged materials can be used or recycled can lessen the costs and the impact of construction debris disposal. Good planning can pay off. If you choose not to re-use your old claw foot tub, you may find a local buyer that will be very happy to take it off your hands. The same is true about sinks, cabinets, lighting fixtures, doors, etc.

When it’s possible, using local materials, building with engineered lumber, and hiring recycling companies to remove waste all help to maximize resource use when remodeling.

Perhaps most important of all when you are considering a remodeling project, get back to the basics. Consider the advice of Sara Gutterman, co-founder of Green Builder magazine:

“In order to accomplish the most desirable sustainable outcome, it is important to begin the process of remodeling with the end result in mind. Understanding the personal impetus behind your desire to remodel is paramount so that you can optimize your new design. Think about how you live in your home. Consider which spaces you use and which ones sit dark and lonely for most of the year, waiting those few special evenings when partygoers enter and infuse them momentarily with life. Many modern designs do not actually fit the needs of the typical homeowner. They often contain formal living spaces that remain unused because of their size and lack of intimacy. When we can understand that interior space is a precious resource just like clean water, air, and soil, we can begin to think more sustainably about it.”

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Tim Menk is a staff writer at 2ndhome Journal and a second home owner. 2ndhome® Journal is a digital magazine for owners, buyers and sellers of vacation homes and investment properties. This article was originally published in the Winter 2007 issue of 2ndhome® Journal.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/la-belle-province-affordable-and-close-to-home.html http://www.articletrader.com/finance/real-estate/la-belle-province-affordable-and-close-to-home.html Thu, 27 Dec 2007 00:00:00 -0600 Editor’s Note: This is Part Two of a two part series on Quebec. The previous issue focused on Quebec’s Eastern Townships.

Montrealers are intensely proud of their city, and for good reason. Montreal is difficult to top for its vitality, beauty and lifestyle. “It’s a little piece of Europe in North America,” says Montreal real estate agent Steve Osgood. Montreal is the second largest French speaking city in the world, but also has a sizable English population. Most Montrealers are bilingual, and many are trilingual and there are substantial communities of Italian, Spanish, Arabic, Portugese, Greek and Chinese speakers. The Montreal metropolitan region comprises 3.5 million people, with about half that number living on the Island of Montreal.

Founded in 1642, Montreal’s location in the St. Lawrence River made it one of North America’s early crossroads and a hub for the fur trade. In the 1800s, Montreal established itself as a leading port and industrial and commercial center. Montreal is Quebec’s largest city, and the second largest in Canada (after Toronto). One of the city’s great features is its livability - housing is affordable, the rate of violent crime very low compared to the US, and the central city bustles with people. Moreover, it’s quite possible to live well in central Montreal without a car – the combination of walking, public transportation (particularly the clean and efficient Metro), and taxis serve many residents well.

Old Montreal is where the city was founded, and there is evidence of human habitation in the area dating back 1,000 years, well before the arrival of the first Europeans. In the 1800s Old Montreal was packed with warehouses, merchants, and tradespeople, and was the financial center of Canada. This is no longer the case, but Old Montreal remains a vital part of the city and the gray stone buildings, cobbled streets, and St. Lawrence River make for an enchanting and romantic setting. “They come up for a vacation,” says Osgood of many of his clients, “and fall in love with the city.”

Old Montreal is popular with tourists, but there are also many people who live and work in the area. Osgood, who specializes in second homes, says most of the properties he sells are condos and lofts in historic buildings. Such properties are in the $200,000 to $250,000 USD range, while two bedroom places in Old Montreal fetch around $300,000 USD.

In addition to Old Montreal, another area attractive for second home buyers is the Plateau Mont-Royal, known locally “the Plateau.” This lively and diverse area lies to the East of Mount Royal and Park Avenue, and as one moves east it becomes progressively more French speaking. The Plateau is home to the characteristic Montreal form of housing: duplexes, triplexes, and fourplexes with winding outside staircases. Within the Plateau there are a number of different neighborhoods, and several vibrant commercial districts and boulevards, each with its own character. The area is home to numerous artists, musicians and other creative types, as well as many students and professionals. It’s a dense, but not oppressively crowded residential and commercial area that is ideal for pedestrians. And there’s lots to walk to, including hundreds of restaurants, bars, cafes, and boutiques. You’ll find some of the hippest places in North America on the Plateau, as well as the simplest of markets and convenience stores, or dépanneurs as they are known locally.

Judy Thompson, a Houston real estate broker, and her husband bought the middle floor of a classic Plateau duplex in 2006. They’d been visiting Montreal since 2000; Thompson says she became hooked on the city “after the first few days when I saw the way people live.” Their two-bedroom place, located in a renovated 1906 building, is close to just about everything, and was very reasonable. Prices in the area average around $200 USD a square foot, depending, naturally, on the quality of the premises.

Summers in Montreal are packed with myriad events, parades, and festivals. Thompson doesn’t discount these, but says she and her husband “do real simple kinds of things.” She cites Montreal’s culture and lifestyle as its main selling points. “I love living without a car, without air conditioning, and being able to walk wherever I go.” Going out for coffee ranks highly on Thompson’s daily agenda, as does exploring the city and walking in Parc LaFontaine. “I love that park,” she says, “I couldn’t believe how big and beautiful it was.”

Renting out a city property is different from a vacation place, where monthly and even weekly rentals are common. Osgood notes that condo associations typically have regulations barring short term rentals. As well, locals are typically seeking unfurnished accommodations with year-long leases. This combination can leave some second home owners holding property that is vacant most of the year, or having their pied-à-terre become a full-time rental. Thompson says she was able to rent her property (“a well appointed place in an A+ location”) for an eleven-month lease relatively easily. She did so by pricing it slightly below market value, obtaining a dependable tenant willing to accept a shorter lease than is typical.

Quebec, both rural and urban, is truly different from the rest of North America. Fortunately, it combines unique attributes with affordability, accessability and livability. Home prices in Quebec are continuing to rise, but the market is steady and the spikes typical of other areas haven’t occurred. Steve Osgood says appreciation is expected to be in the 4-5% range in Montreal for the foreseeable future. Prices in the Townships and Laurentians are expected to show similar moderate increases. The Canadian dollar is currently strong against the US greenback, trading in the mid 90 cent range. It’s expected to remain above .90 US for some time, and may reach parity with the US dollar. This means there’s no scooping up properties at bargain basement prices thanks to a weak local currency, on the other hand, owners of property in Quebec can sleep easy knowing the currency is unlikely to tumble, lowering the value of their asset.

Quebec, both rural and urban, is a North American jewel. As anyone who’s spent time in the province can attest, it’s a place whose history, beauty and unique culture render it distinct. As a bonus, it’s right in the United States’ backyard, and affordable relative to comparable areas in North America.

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Tim Lehnert is a freelance writer and lives with his family in Cranston, RI. This article originally appeared in the Winter 2007 issue of 2ndhome® Journal, a digital magazine for owners, buyers and sellers of vacation homes and investment property.

Source: http://www.articletrader.com ]]>