Foreclosures Falling


Posted by Kenny Hernandez

NEW YORK (CNNMoney.com) -- Foreclosure filings fell by 8% in November, making it the fourth consecutive month of improvement in the housing market.

There were 306,627 filings last month, according to RealtyTrac, an online marketer of foreclosed properties. That decline follows a 3% drop in October, 4% in September and 1% in August.

"Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit, are keeping a lid on the most visible symptoms of the nation's ailing housing market -- foreclosures and home value depreciation," RealtyTrac CEO James Saccacio said in a prepared statement.

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Mortgage Help for Some, Not All


Posted by Kenny Hernandez

NEW YORK (CNNMoney.com) -- Only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program, Treasury officials said Thursday.

A nearly equal number of trial modifications have been denied permanent assistance, the report showed. The reasons include not making monthly payments on time, not submitting all the necessary paperwork and not qualifying for reasons such as insufficient income.

The report, the first comprehensive tally of permanent modifications made, shows that loan servicers have converted 31,382 people from trial adjustments to long-term assistance as of Nov. 30.

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What is Next For Commercial Real Estate?


By, Meredith Anderson


As the economy seems to be seeing a light at the end of this very dark and long tunnel commercial real estate continues to pull us further back. Commercial real estate companies are now seeming more and more ready for acquisition however with high rates of unemployment, hard lending processes, and uncertainty from investors, commercial real estate is far from out of the woods yet.


Although residential real estate seems to be easing back to a more positive situation, commercial real estate seems to have a gloomier future. With the recent issues with Dubai World, many are feeling that things are only going to get worse before they ever get better. The default rate in speculative debt is said to hit an all time 28 year high by the end of the year. Experts seem to be blaming this trend on the continues rise in unemployment which in essence is hurting the cash flow in the industry. It is said as long as this unemployment trend remains so will the commercial real estate concern. Credit is said to be the second leading cause for this unfortunate trend. Banks are becoming even more unwilling to give out trends protecting themselves for what might come in 2010. According to many, 2010 will be the rock bottom for commercial real estate.






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Bad Economy...Time to Invest or Save?


By: Robert Katz



It is a tough decision for most people to decide, now that the economy is said to be bouncing back, whether it is an opportunity to invest or a time to save. Most experts, Including CEO of Century 21, Say that it has never been a better time to Invest. With the cost of capital right now down to record lows in the 4-5% range, the price of real estate still at rock bottom, and the overall availability high due to the overall lack of buyers this theory may not be just a push to help his business. Now most would probably say that they just want to wait a little longer till the economy bounces back with unemployment rates still in the double digits. Yet, based on research done by Realty Times this opportunity that the market is providing may be disappearing faster than most realize. There has been an overall increase by around 4% in housing sales from over the past couple years, with even higher 20% increases in areas like the Northeastern region of the US. Additionally increases in newly constructed homes around the country has increased by over 6% from the last couple years showing that there are financially secure people right now capitalizing on the current buyers market. Now, determining if you should invest is really based on nothing related to the facts I've just given, but more on whether you are financially secure or not. If not then save your money for the essentials, but if you have a decent amount of surplus cash lying around, making little to no interest in that savings account, real estate investment may be something you should seriously consider.
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Price cuts on real estate seem to be waning


Mary Ellen PodmolikTribune staff reporter
By at least one measure, price cuts on Chicago homes appear to be waning, which means sellers are getting more realistic or they're willing to wait longer for their desired price.

While more than 27 percent of listings in Chicago on Dec. 1 contained at least one price reduction, the number of listings with price reductions still was 15 percent less than a month ago, according to realty Web site Trulia.com.

In Chicago, 27 percent of single-family homes had been reduced in price, by an average of 10 percent from the original price. Among the 26 percent of condos with price cuts, the average reduction was 7 percent.

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Posted By: Amy Nightingale Group 3a




Mary Ellen PodmolikTribune staff reporter

Downsizing your house!



Posted by Ahmed Al-Salem
A recent Time article has an interesting point, "During the real estate boom, new home construction became a game of ever increasing square footage. That had a certain logic to it: If you saw your house as an investment to make you rich, bigger could only mean better, right? Now that the economy has unfurled and people are realizing that prices don't always go up, houses are getting smaller and more practical. Instead of feeding the desire for flash, architects and homebuilders are responding to how families actually spend time and use space, as well as to new buyers entering the market. "A house is back to being a house," says Stephen Moore, a senior partner of the architecture and planning firm BSB Design in Des Moines, Iowa." This is a good trend to see in society. Bigger is not always better. Why live in a house that is three or four times your capacity to use it and pay more if it won't help you financially or economically. You can still build an awesome house but make it small and fit your needs in the most cost effective way. The article continues: "What does the new American home look like? The shift is obvious as soon as you step through the front door. The grand entryway — the two-story foyer with a sweeping, often multipronged staircase — is quickly giving way to a more modest entrance. Stairs are less about architectural flourish and more about getting upstairs (if you can imagine). That means they're either moving back up against the wall or turning into more-compact switchbacks. The two-story foyer is becoming less and less popular too — in an era of tighter purse strings, who wants to heat and cool all that empty space? "Would you rather have the extra volume or a game room upstairs?" asks Ken Gancarczyk, a senior vice president at KB Home who runs the Los Angeles–based builder's architecture group. Buyers, KB is finding, want the room."

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New York City Real Estate




Post by David Held

The first thing that comes to mind when anyone mentions buying an apartment in New York City is EXPENSIVE! NYC real estate is arguably the most expensive real estate in the United States.

Why does it possess the most expensive real estate?

1. Location, Location, Location: Almost every major business/corporate has a headquarters in NYC, so the convenience of living next door to your office, not to mention the savings in transportation costs, is going to cost you a pretty penny.

2. Demand for Manhattan real estate has only risen in prior years, thus building owners inflate the price per unit and they get what they ask for.

3. Europe is easy to get to! This also has to with the location. Businessmen and women do not want to fly to California or even Chicago for a meeting, the City is much closer and more convenient.

4. The amount of “stuff” that goes on in the City. NYC has the hottest clubs, bars, shows, museums, restaurants, etc on the planet. “New York is the City that does not sleep.” Which all of this going on in the city and right at your finger tips it tends to increase demand for real estate.

5. It has everything you need (and all in walking or subway distance)!

Sources #1, #2, #3

Junk mortgages: It just gets worse


POSTED BY: SARA SINDELAR

By Allan Sloan and Doris Burke

NEW YORK (Fortune) -- Back two years ago when the mortgage meltdown was heating up, we wrote an article called "Junk Mortgages Under the Microscope" dissecting a particularly wretched mortgage-backed securities issue peddled by Goldman Sachs.

We wanted to show how these complex securities really worked and how Moody's and S&P, the rating agencies, aided and abetted the process by giving two-thirds of an issue backed by ultra-risky second mortgages the same safety rating they gave to U.S. Treasury securities.

We thought this was a cautionary tale -- but it's turned into a horror story. All the tranches of this issue, GSAMP-2006 S3, that were originally rated below AAA have defaulted. Two of the three original AAA -rated tranches (French for "slices") are facing losses of about 90%, and even the "super senior," safer-than-mere-AAA slice is facing losses of 25%. How could this happen? And what lessons can we take away from it?


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Fed's opinion on Real Estate Market



BY: Nicole Nelson

The Fed (Federal Reserve) is the central banking system of the U.S. The do many things such as enacting different rates for banks depending on how the economy is at a certain point of time. The Fed reports on how the economy is. Recently the Fed believes that the economy itself seems to be rebounding from the crisis that occurred during the fall of last year. Although the economy does seem to be rebounding, the Fed believes that the housing/real estate market is still struggling. The Fed reported that home prices are still declining. Also they stated that the commercial real estate market is one reason why the present economy is not rebounding as quickly as it should be. Things such as falling rent prices, vacancy rates rising and very little construction on the way is dampening the real estate market. Also, losses on commercial real estate are increasing which shows that the market is “very weak and, in many cases deteriorating”. Although the commercial real estate market is clearly not improving significantly or at all, the residential market’s outlook has improved. Home sales have continued to rise, with a majority of these sales coming from the purchase of less expensive homes. Although the turn-around from the financial crisis has taken some time so far, the turn-around is taking place. The fed stated recently, “This slow-motion recovery is going to take an extraordinary amount of patience.”

No Escape From TARP for U.S. Banks Choking on Real Estate Loans


Posted By: Nicole Nelson

Written By:Elizabeth Hester and Linda Shen

Dec. 7 (Bloomberg) -- As the U.S. economy pulls out of a recession and the biggest banks return to profitability, mounting defaults on commercial property may keep regional lenders from repaying bailout funds until at least 2011.

Unpaid loans on malls, hotels, apartments and home developments stood at a 16-year high of 3.4 percent in the third quarter and may reach 5.3 percent in two years, according to Real Estate Econometrics LLC, a property research firm in New York. That’s a bigger threat to regional banks, which are almost four times more concentrated in commercial property loans than the nation’s biggest lenders, according to data compiled by Bloomberg on bailout recipients.
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Commerical Real Estate Far From Recovery

Posted By, Meredith Anderson
Dec. 7 (Bloomberg) -- As the U.S. economy pulls out of a recession and the biggest banks return to profitability, mounting defaults on commercial property may keep regional lenders from repaying bailout funds until at least 2011.

Unpaid loans on malls, hotels, apartments and home developments stood at a 16-year high of 3.4 percent in the third quarter and may reach 5.3 percent in two years, according to Real Estate Econometrics LLC, a property research firm in New York. That’s a bigger threat to regional banks, which are almost four times more concentrated in commercial property loans than the nation’s biggest lenders, according to data compiled by Bloomberg on bailout recipients.

The concentration makes regulators less likely to let regional lenders like Synovus Financial Corp. and Zions Bancorporation leave the Troubled Asset Relief Program, analysts said. Smaller banks would remain stuck in TARP, while bigger lenders, including Bank of America Corp., repay the government and free themselves to set their own policies on executive pay.

“Community and regional banks basically became real estate banks in the past 25 years, and now real estate is on its back,” said Jeff Davis, an analyst at FTN Equity Capital Markets Corp. in Nashville, Tennessee. “The largest banks have other areas where they can make money, be it consumer lending, capital markets and asset management.”








Tips for Selling Your House

By: Laura Reginelli

As many have realized the recent housing and economic crisis have caused a dip in home sales over the past year or two. Selling a house can be considered an art and some individuals fail to realize how to effectively market your home and make the final sale. In today’s world selling a home can be harder than ever so it is important to follow some basic rules in order to secure the sale.


1. Invest in hiring a real estate agent. Some people fail to realize how difficult it really is to sell a house and underestimate the power of a professional.


2. Be positive and persistent. Everyone is having trouble selling homes for the prices that they want to these days. Keep at it and stay motivated. It won’t fail you.


3. Make improvements to both the inside and outside of the house. People will see your home as they drive by and the more aesthetically appealing that it looks the more they will be intrigued to look into buying it.


4. Many experts recommend depersonalizing your home. By making the house less personalized, buyers will be able to envision it the way they want it. A clean slate usually works best.


5. Have realistic expectations when it comes to selling your house. Talk to a real estate agent prior to pricing the house in order to have an expert opinion.


Sources: http://www.ehow.com/way_5263635_tips-selling-house-fast.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_art


http://homebuying.about.com/od/sellingahouse/ht/homeprep.htm


http://www.articlesbase.com/real-estate-articles/tips-for-selling-your-house-48920.html

The Best Time to Sell Your Home

Posted by: Janielle Viggiano

Some of the questions you need to start asking yourself when you’re thinking about selling your home is:

  1. How much equity is in my home? According to essortment.com, “if you’ve made a sizeable down payment, have lived there several years, or neighborhood property values have skyrocketed, you may be able to get a comfortable profit from the sale of your home (2009).”
  2. Is your home in saleable condition? Will you have to market it as a fixer upper or “as-is?”
  3. Where will you move to? “If you plan to downsize or move into an apartment, chances are you need not worry about making a huge profit. But if you would like to buy another home, do you have enough money for the required down payment (essortment, 2009).”
  4. Is the selling market stable or strong? Pay attention to the economy and the news to see if right now is the best time to sell or if you should wait a few months.
  5. Are your circumstances stable? “If a family member is in precarious health, it may be wise to wait until the crisis passes before attempting to sell your home. Stress tests report that selling or buying a home can wreak havoc in a placid lifestyle (essortment, 2009).”

Traditionally spring is the best time to sell your house. Sales peak in April and May and continue to stay relatively strong in June and July. It’s a good time to move because the weather is nice and it’s during summer recess from school.


Sources: http://www.essortment.com/career/readysellhome_seoi.htm

http://www.lendingtree.com/real-estate/advice/selling-a-home/the-best-time-to-sell-your-house/

http://www.forbes.com/2005/02/04/cx_sc_0204home.html

Looking to Purchase a Foreclosure?


By Matthew Maillet

In the recent months, the foreclosed housing market has become more and more attractive for those looking to purchase discount real estate. Currently there are over 1.5 million homes for sales, and this number is expected to grow for the next six months. Foreclosed houses provide bargains for those looking to purchase assets. However, these bargains have both advantages and disadvantages. If you are looking to purchase a foreclosed house in the near future, there are many strategies that will help you in making the right purchasing decisions.
Glenn Kelman, CEO of the online discount housing broker Redfin, explained the current housing market best: “Everybody and their grandmas are trying to buy foreclosures.” Because of this, it is important to act rationally and not just get caught up in the frenzy. Cheap list prices attract many bids from potential buyers; thus, make sure to stay clear of homes that are no longer selling for a great bargain.
Two strategies that place the buyer at a greater advantage are the following: always contact lenders directly and make sure to get pre-approved from the lender you want to buy from. The better relationship you have with an asset manager, the greater chance you have with receiving insider information on great bargains as soon as they hit the market. This can put you in a better position from other buyers on the market.

Source 1
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Improving Real Estate Indicators



Article by Matthew Maillet



October real estate statistics have shown that many Americans are taking advantage of the first time home buyer credit. The National Association of Realtors reported on December 1st “an unprecedented ninth consecutive month of increases in the number of signed contracts.” While a signed contract does not promise a done deal home purchase (because it is not officially a closed sale,) this number is a clear indicator that many Americans are utilizing government incentives to purchase homes.

The Census Bureau has also reported some encouraging figures for the future of the real estate market. In the month of October, there was a dramatic 3.9% surge in private residential construction spending. Many analysts agree that these numbers may in fact weaken in future months; however, it is clear that the depressed prices of many homes as well as government incentives have encouraged many Americans to purchase their first home.

Many real estate analysts predict that the housing market could return to normal market conditions by mid-2010. While this hopeful estimate suggests that Americans are actively purchasing new homes, it also relies on several other indicators (unemployment percentage, etc.) Lawrence Yun, the head economist of the National Association of Realtors, explained that these indicators suggest a “broad wealth stabilization for the vast number of middle-class families.”



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Improvements for potential homeowners


Posted by Pete Hill

Throughout the course of this recession, and the recovery of the recession, the housing market as a whole has still struggled. Although it may take a long time for the entire nation to return to its previous level, there is hope for some areas to respond quickly.

There has been a noticeable improvement in the price level of houses over the past six months. Rising home prices are a key ingredient to rebuilding the economy. Homeowners feel wealthier when their property appreciates in value and are more likely to spend money. Rising prices also help millions of homeowners who owe more to the bank than their homes are worth.

On the other side of the argument, the population who is interested in buying a house is in luck. Interest rates are at record lows. Housing prices in many parts of the country are still depressed. And you may be eligible for a generous tax break. President Obama signed legislation that provides a $6,500 tax credit for some current homeowners who buy another home. The law also extends the $8,000 tax credit for first-time home buyers.
Sales of new homes rose last month to the highest level in more than a year as strong activity in the U.S. South offset weakness in the rest of the country

Potential of a revived housing market


Posted By: Pete Hill


With the economy pulling out of a recession, many people wonder if they can expect another crash, and if their housing market with be revived. Because the markets had made such a recovery this year, many experts wonder if it is too much too fast. With that being said, the economy is recovering but the housing market still faces challenges, and we are still losing jobs.

“Junk Mortgages” as they are called continue to get worse and still continue to ruin the housing market. Experts thought that when the recession hit, dissecting them and evaluating them would put an end to their harm, but they have not been resolved. These mortgages are a large reason as to why the housing market will not recover on the same level as the rest of the economy, and why so many foreclosures are happening.

The big question many people want to know the answer to is whether their town will be a boomtown again or not. A good climate and a robust economy tend to push housing prices up, but meanwhile an elastic housing supply keeps prices moderate. It is said that some of the “old, cold” cities and towns may never recover the way a warm climate city will recover.

Sources:
http://money.cnn.com/2009/11/25/pf/expert/market_crash.moneymag/index.htm
http://money.cnn.com/2009/11/30/real_estate/mortgage_lessons.fortune/index.htm
http://money.cnn.com/2009/11/25/real_estate/Glaeser_real_estate.moneymag/index.htm

Real Estate Market is Showing Positive Signs



By: Sara Sindelar



The housing market hit a big increase for the month of October. National Association of Realtor's index increases 32%. There is a large factor of the first time buyers tax credit that home buyers are taking advantage of. There has been a straight nine month increase in signed contracts. The first home buyers tax credit can equal up to $8,000. The tax credit is worth 10% of the value of the home up to $8,000. It is only for first time home buyers who have not had a residence in three years and this must be their primary residence after purchase. The ending date was November 6, 2009 causing the major increase in October home sales.



Not only is there an increase in buying but a major decline in houses on the market for sale. Lawrence Yun, a National Realtor Association chief economist believes that real estate conditions will be back to normal by mid 2010. (CNN) Many areas are seeing this increase in home sales it is not just a positive country average. Central Ohio saw a 26% gain in October and Chicago area sales were up 33.3%. Along with the unemployment rate declining and real estate home sales increasing there is a lot more hope that there is an end to this recession. There is still a lot of work to be done and debt to be paid back but these signs give a positive that next Christmas may not be so dark.



http://money.cnn.com/2009/12/01/real_estate/October_sales_contracts/index.htm

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=109092

http://www.housingzone.com/articleXml/LN1085165224.html

The Holiday Season Is't So Joyful For Real Estate




By, Meredith Anderson

With the holidays right around the corner people seem to be surprisingly spending! According to the Federal Reserve on Wednesday the economy is starting to see a slight progress in general.With the holiday season here retailers are excited for the sales and seem to have quite positive expectations. However the commercial real estate market doesn't seem to be sharing the happy news.

Commercial real estate is still a barrier to our recovering economy. Although residential real estate has seen a small increase in sales due to lower prices, not many new homes are being built, bank are loaning less money, more layoffs are occurring, and essentially most people cannot afford new homes. However the real problem is with commercial real estate. There is very little new construction happening. Because of the increase in rent vacancy levels are rising. The Fed described the commercial real estate market as,"very weak and, in many cases, deteriorating." We can just hope that with the new year comes better news.


Sources:

http://www.bostonherald.com/business/real_estate/view.bg?articleid=1216345&srvc=business&position=recent
http://www.kansas.com/business/story/1081230.html
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/02/AR2009120204029.html

Government Stepping in to Help Foreclosures



By: Sara Sindelar

There are a rising number of foreclosures during this economic crisis. With unemployment rates rising and borrowing money is becoming more difficult foreclosures are increasing. The government has been stepping in to help with this growing problem. The government wants to have the loan providers to help these homeowners long term. They are going to physically go to these providers and help move along this slow transition to get homeowners back on track quickly. Banks are now going to be required to send progress reports two times a day for the month of December. Those that do not cooperate with the guidelines placed will face penalties.

The government wants to help the providers have a good line of communication with their borrowers. The homeowners are being placed in trial runs to see if they will be able to meet the new payment plans. Bankers are complaining that the borrowers are not turning in their paperwork which is slowing down the banker’s side of the process.

The Treasury realizes that this problem is two sided since homeowners are not handing in their paper work as well. This is going to be a work in progress for homeowners to stay away from foreclosures.


http://www.nuwireinvestor.com/articles/poll-shows-low-confidence-in-government-to-resolve-foreclosure-crisis-54165.aspx
http://money.cnn.com/2009/11/30/news/economy/permanent_modifications/index.htm
http://today.msnbc.msn.com/id/34243370/ns/today-today_technology

Home sales contracts soar in October

POSTED BY: Sara Sindelar

By Les Christie, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Americans are inking a lot of deals to buy homes.

In October the National Association of Realtors recorded an unprecedented ninth consecutive month of increases in the number of signed contracts.

Although these are not closed sales, and some deals can fall through, signed contracts are a good indicator of where the housing market is headed.

Between September and October NAR's Pending Home Sales Index rose 3.7% to 114.1 from 110 in October. But the index is 31.8% higher than a year ago, when it was 86.6. That's the biggest year-over-year gain in the history of the index.

The PHSI is also at its highest level since March 2006, and the rise confounded expert expectations. A panel of industry analysts put together by Briefing.com had forecast a 1% drop in new contracts.


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Real Estate Market: Beginning to Increase


Posted by Lindsey Connell


The real estate market has changed dramatically over the last few years and its stunted growth has put many people out of work. The problem is that with the economy today, people are less willing to spend their money which means houses aren’t being sold. What is surprising however, is the quick change in the real estate market. Sales of single family homes, townhouses, condos and co-ops rose by just over 10% in October, and were 24% above where they were a year before. Closed transactions also rose over 12% and specialists believe this jump is due to first time buyers trying to make their purchase before expiration of the $8,000 federal tax credit. Another reason for this is because house prices are very low and are now more affordable to more people. A study even showed that houses are now more affordable than they have been at any point in the last five years. The percentage of people able to afford houses on the market even rose from 56.1% to 62%. The cost of houses on the market today are now 8.2% less than they were a year ago, which will hopefully stimulate the economy and get more customers to purchase homes. We do have to keep in mind however, that if home purchases increase, the costs of the houses are sure to increase as well.





Real Estate Salaries


It is very interesting to compare salaries among different jobs, how people get paid and how much they are getting paid. When thinking of a person who sells real estate, it may be shocking to know that the average real estate sales agent in 2006 made $35,715 base salary. With the way real estate agents get paid though, this is only their initial income as they also get paid on commission. The percentage the sales agent makes ranges on which company they are working for, whether they are private or public. It also depends on how many years the sales agent has been working. The longer someone has been in the business, the more they make.


Looking more broadly at real estate employee salaries, they can range greatly based on what you do specifically in the industry. Median salaries generally are at the following for these jobs. Residential Property Manager- $65,000; Residential Real Estate Agent- $54,000; Financial Analyst in a Real Estate Company- $60,000; Project Manager- $90,000; Mortgage Lender- $110,000. Clearly it makes a difference as to what role you play in real estate. Commission will also not affect all of these jobs as they are not all directly related to the sell. The actual agent will be the one getting that additional compensation.


By: Kelsey Hoffman


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Real Estate Market Trends Don’t Matter Anymore


This has been “conference” month, and we have attended our share of the retrospectives/prospectives of the economy and the real estate market, both nationally and locally. Most prominent of those conclaves was the Urban Land Institute’s national conference in San Francisco, which was held in early November. It was followed by a local version, called the Trends event, focusing mostly on San Diego.

The idea that trends matter is wrong. These conclaves ought to be titled Apocalypse Now. The nature of the economic beast attacking us requires serious thinking about real change. Not enough of that is going around.

The general consensus from each of the events is that we are in the midst of a long, slow recovery period. So, the message is to attempt to Thrive in Turbulent Times, the subtitle of the local ULI Trends conference.

Not all agree that is possible. “Thriving might be too strong a term,” suggested development consultant David Malmuth. “Maybe the better approach is adapting or surviving.”

Malmuth is correct. There is no point in mincing words. The economy and the real estate market have been in descent for four years, and there is every sign this will last for a couple more. Job losses and unemployment remain high. Discretionary spending is weak.




Posted by: Kelsey Hoffman

Real Estate Buying Online



Posted By, Meredith Anderson


Visitors to www.costar.com Can Now View the Constant Flow of Deals, Property Searches and Listing Updates Occurring Throughout the U.S. Market
November 30, 2009: 04:23 PM ET

BETHESDA, Md., Nov. 30, 2009 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced that, for the first time ever, online viewers can watch the constant flow of activity occurring throughout the commercial real estate industry on CoStar's website at www.costar.com.

The unique visual display captures the hundreds of thousands of listing updates, reported lease and sales transactions, and property searches taking place in CoStar's comprehensive database of commercial real estate information every day, showing where the activity is occurring as it happens.



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Bali Villa Rental



My name is Steven Johnson from Manchester in England, and I would like to share with you my experiences with Paradise Property. My self and my wife first decided to look on the internet for possibly renting a villa on the fantastic island of Bali. We had always holidayed in a villa during previous times, and decided it was time for a change. Several options appeared on Google and one of the ones that stood out was about Bali villa.

The site was very informative and helpful, with many different options to choose from. We had both decided that we wanted to be in SEMINYAK, just situated off the famous ‘’EAT STREET’’ road known as JALAN LAKSMANA.

The site guided us to a perfect location situated behind RUMOURS AND ULTIMO restaurants. It fitted perfectly into our budget so we went ahead and booked for a couple of weeks as it was a present for our anniversary. Immediately upon our arrival at the airport we were met in VIP style. Instead of having to pass through customs and immigration with the rest of the flight, Paradise Property had arranged someone to meet us off the plane and usher us through to the baggage hall, HOW AMAZING NO WAITING !!!! Outside a car was waiting for us to take us to our booked destination, with a nice local driver who spoke perfect English. When we arrived at the villa the staff were dressed in local attire, with welcome drinks for us and cold towels. We were quite tired from the flightso wanted to relax straight away and a quick bite to eat, as we had plannedto get right on the beach in the morning !

After a week or so of total privacy and relaxation, we decided to pop into Paradise Property, which is situated in JALAN LAKSMANA (jalan meaning street) just 2 minutes walk from where we were staying ! We had spoken all week about possibly buying a property in Bali and went along to find out more. I have to say we were blown away again ! Very helpful and friendly staff and a great selection villas in different areas.

They were never pushy and to be honest we both wanted to look at some villas right there and then, but they way they handled it was very professional. They arranged a car to pick us up the next morning in my villa and a very polite chap from the office had carefully selected some properties within our budget in the areas we wanted to look at. First we looked at SEMINYAK, and then onto CANGGU. Half way through the tour we stopped at an amazing café right on the water known as ECHO BEACH. This was amazing, truly a magical place and somewhere we had not been for the whole week, and wished we had found it earlier ! We looked at several other villas and relaxed back at our villa.

We talked the whole week and went for dinner maybe 3 or 4 times back to ECHO BEACH, which is around 10-15 minutes from SEMINYAK. I’m happy to tell you that we are now proud happy owners of our own villa in CANNGU. A property we can use when we come to Bali, and rent out for the rest of the year. From start to finish, sitting at home on the internet, until the time we were dropped off at the airport PARADISE PROPERTY really delivered a first class performance.

And to top it off, not only have we bough a villa, but made some fantastic friends in the Paradise Property office who have not only guided us to our dream villa, but given us advice on everything related to Bali. We truly are great full to them and would recommend them to anybody wanting for a Bali villa rentals, villa sales or anything regarding owning a property in Bali.

Thank you guys !

Steve and Brenda Johnson.
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