Real Estate

Archive for May, 2010

What Is Meant By Queen Anne Style House?

If you are out looking for a new home or just interested in architecture in general you may have come across the term Queen Anne Style house. These house styles are particularly found in neighborhoods in North America with a long history usually started on large pieces of property that include sprawling yards. In this article we will take a look at some of the criteria that a building must satisfy to be termed a Queen Anne Style.

Queen Anne architectural history

First of all lets get some of the mystery of the name out of the way so that you arent confused by period architecture. No one is quite sure why Queen Annes are known by that name since the style itself did not emerge until the real Queen Anne had been dead for some time. They are a part of the broader category of Victorian architecture but in fact their construction mostly derives from inspiration in the Middle Ages.

The style itself became widespread in Europe and North America at the end of the 19th century when the Industrial Revolution was just becoming a reality. This new phenomenon not only meant an influx of new materials for building purposes but also the burgeoning of a previously small middle class.

This emergent class wanted homes which represented their new stature somewhat representing a castle but also the smaller and more convenient aspects of a smaller home or cottage. The result was the hodgepodge appearance known as Queen Anne architecture.

What to look for

As several people have said Queen Anne style architecture is fairly easy to spot but less easy to define. In a Queen Anne style house you can expect to see a rejection of symmetry; there will be different shapes and lengths to the walls and roofs of the building. Indeed it has some of a blocked together feel although the different styles combined contribute rather than detract from the overall impression.

The roof of a Queen Anne style building is typically quite steep although like the rest of the house the roof will vary in grade and appearance. In addition any number of detailing can be incorporated which will still leave the house in the Queen Anne category.

So for a simple definition lets just say that Queen Anne style houses are fairly eclectic. This is entirely appropriate to an architectural style that has nothing at all to do with the royal from whom it takes its name!

About the writer:  The Rhinebeck real estate market encompasses an historic area nestled in the lush rolling hills of Dutchess County in the scenic Hudson River Valley.

What Is A Leaseback?

What is a Leaseback? ‘Leaseback Property’ is a real estate scenario where a freehold property is “leased back” to a Property Management Company for a fixed tenure which in turn manages or commercially exploits it without interfering with its ownership. Normally the Company lets the premises on rent and gives certain percentage of rental income to the actual owner.

What is French Leaseback Property? ‘ Lou Meubl NonProfessionel LMNP or the French Leaseback Property System was introduced by the French government in early 1980s to increase the quantity of holiday accommodation available in the country. This was a measure to offset the growth of required holiday accommodation sites in the country as a result of burgeoning tourism industry in the country.

Under the LMNP the investors who purchased the property had to lease it back to a predetermined Property Management Company for a fixed period of time generally between 9 to 11 years extendable up to 18 years. During this period the task of the Management Company is to furnish equip and let the property for a guaranteed net return. The return on property tends to range between 2.5 and 6 per year depending on the factors like the Property Management Company nature of property its location and whether or not you will be enjoying the property for holidays.

The French Leaseback Property Scheme is a runaway hit with most leaseback developments taking place on the Mediterranean and northern coasts the Alps and in Paris. The Ski stations like Val d Isere in the Savoie region of France are just about ideal investment for a Leaseback property. Similarly the ski resorts in the Three Valleys area Trois Vallees like Meribel Les Menuries Courchevel and Val Thorens also attract tremendous Leaseback investment.

Some other hot locations for Leaseback Property investment in France include Les Arcs 1950 the French Riviera the LanguedocRoussillon area along the Cote Vermeille between Perpignan and BanyulssurMer Pyrenees ski resorts like La Mongie and Font Romeu Biarritz Capbreton and Arcachon Brittany Normandy and Nord Pas de Calais.

Advantages of French Leaseback Property The best part in owning a French Leaseback Property is that the owner avoids paying French VAT on new property which amounts to about 19.6 that would normally apply.

Additionally the owner also avoids paying any tax on the Capital Gains if he keeps the property for 15 years.

In a recent clarification by the French government it has been resolved that upon the sale of a leaseback property the owners are not required to repay the VAT pro rate temporis as long as the new buyer continues with the lease agreement. Therefore the new buyer also does not require to pay VAT either.

Leaseback arrangement ensures regular annual rental income. However if you plan to occupy the premises for some time of the year the rental income will accordingly decrease. The rule is ‘the less you use your property the higher your yield will be’.

With a number of Property Management Companies to choose from the investors have choices in plenty. The allurements include flexible packages including renegotiating the number of weeks’ access to the property each year at a price.

Legalities and Cautions The experts advise the potential French Leaseback Investors to go thoroughly with their contract. Every clause of the contract must be carefully vetted with the help of a local lawyer. Due to the technicalities involved it’s better to be safe than sorry. At the expiry of the initial fixed term and depending on the peculiar terms and conditions of the contract you can either exit the lease or renew it with the Management Company. In either scenario make sure that that you negotiate your rents upwards. For such an advantage it is pertinent to check the initial contract and ensure that upward revision of rent is an integral and indispensable part of the contract.

However you must remember that while capital appreciation is incidental leaseback is principally meant to ensure a guaranteed rental income.

About the writer:  Property Abroad’s directory Les Calvert writes interesting and useful articles on all subjects dealing with overseas property and buying property abroad. With over 400 company websites selling and renting property in almost every country around the world Les is well placed too ffer advice on existing and emerging property locations. Visit their flagship site www.propertyabroad.com for more details on buying abroad.

War Stories Property Punting Interest Rates

WAR STORIES
Beat up the Brokers!
I can understand why there is a general disdain for mortgage brokers at present. They have left a dirty stain on the carpet in the USA and a bad smell in the littlest room in the house but to blame them for the global financial meltdown is a bit rich. Australia is I believe already a very over regulated country and the financial services industry is the most regulated of all. What happened in the States could never happen here. Yes there are some cowboys out there who have no qualms about hyping up the property market so they can overextend gullible people into investment property. Yes it is risky for people to access all the equity in their homes and then invest it in other things but that is a choice for the individual. Of course some people are going to get burned if its not well managed. As in the recent Four Corners program on the ABC which focused on some people who were not the sharpest tools in the shed who made some bad decisions but it is not worth regulating the industry even more for the minority who need protection from them selves.
Margin Games
However there is one new regulation being talked about that I do agree with. You may have heard in the news about the highflying directors of publicly listed companies who have been wiped out by margin calls on the stock market. In many cases this has been unfair as they are a victims of a nasty game that has been imported from the States of course. What happens is that traders or hedge funds target directors who have margined their stock i.e. used their stock as collateral for debt. The hedge funds short the stock buy puts betting the stock will fall and then circulate rumours and negative reports from dodgy financial journalists that the stock is in trouble. Even big company directors can’t find the sums required to cover their stock at short notice so it is sold from under them causing the stock price to plummet. The only winners are the devious short sellers who laugh to the bank.
Woolworths
Obviously I am an advocate of the free market and think a boycott of Woolworths in Mullumbimby is not going to work. I see both sides of this debate and think there may be a solution. Anyone who has spent time in the States can see what a disaster rampant mall development has been to small towns. Also Woolworths have openly adopted the corporate strategy of WalMart who are the “Attila the Hun takenoprisoners” of retail. But they operate within the law and can set up wherever they want. The problem is that a mall complex surrounded by car park sucks business from a town centre changing its architecture and culture. I was recently in Canberra and they have new developments that include Woolworths and Coles but still maintain a streetscape with shop fronts. The supermarkets are upstairs and the car parking is out the back. This can happen on Station Street and then this development can just become and extension of the town and not competition to it. It is a middle way that can work.
East Of Everything
The program may have its faults but the series “East of Everything” on ABC on Sunday nights will be a boon to the shire as if we needed it. To me the acting and script take a second place to the real star of this series which is the natural environment. Filmed on the back lots of the Byron Beach Resort soon to be the Becton redevelopment site it looks fantastic and I can imagine people over the world watching it and thinking what a great place to live. Apparently this is what happened to Barwon Heads in Victoria where Sea Change was filmed some years ago. It saw a huge influx of visitors and people wanting to move there after it was screened.
PROPERTY PUNTING
Even though the property market has moved out of a complete stall I dont see a rapid rush back in just yet. As they say cash is king in times of uncertainty and many punters will be keeping chips off the table. But also it is said that times of uncertainty are also times of opportunity. I can see that more people have been putting properties on the market so there are some good buys out there.
But a part of me is happy that the expected property run did not happen. I know that may sound strange coming from a person who can benefit from property speculating. But I am not alone in thinking that ongoing escalating property prices in this country can do be damaging to the society. It will be interesting to watch how the powers that be make the effort to help first homebuyers and a rental blow out. At present there is the scheme giving developers a 6000 per dwelling tax write off to build low cost housing. That is a good move.
They also have an idea to provide funds for first homebuyers to equal funds that are being saved for a home deposit. I think that is a bit lame but better than nothing. But watch out renters stories are out there rents are going to increase 50 in the next 4 years. To me one easy but unpopular way to keep house prices under control is to re introduce Capital Gains Tax on any sales over 1 Million. This is the main reason why top end property is consistently strong as owners of exclusive property can live in their home for a couple of years and pocket an extra mil or two when the move up.
INTEREST RATES
The share market may have bottomed and interest rates may have topped. Don’t rely on my opinion on these things. It is such a volatile situation but most pundits predict just one more rise this year to put the inflation genie back in the bottle and then it may recede over time. With the look of the global economy going into recession rates may drop quite quickly as the best device a reserve bank has to stimulate an economy is to lower interest rates.
At present the standard variable rate with CBA is 9.44 after their recent rise of .14 but the average loan rate sits at 8.93. But the best best rate on offer from us Lawfund is either 8.57 or 8.67 depending on the bank this is after a discount and NOT a honeymoon rate. Most fund providers are offering some kind of discount to attract new customers and keep the old ones. If your rate is over 9 and your bank won’t give you a rate cut and your exit fees are not too onerous I will be happy to take your call and see if we can help.

Resources:
www.byronpropertysearch.com.au
www.realestate.com.au

About the writer:nbsp;nbsp;After dropping out of the elite English public school Ulysses Pemberton disappeared for some years and walked throughout the Himalayas. Later on he was the guide and interpreter to a National Geographic expedition. Documentary filmmaking was his first love and he gained a number of commissions from his previous employer. He now lives in Australia and is often called upon to write and lecture on tropical design in the modern world.

He now divides his time between his villa in Laos and Byron Bay Australia where he has devoted his considerable aesthetic sensibility to improving the quality of architecture and interior design in this part of the world. He is often called upon to write and lecture on tropical design in the modern world. His latest book From Shed to Chalet Transforming the Suburban Nightmare into the International Dream is a collectable edition.