Owner: surajproperty.blogspot.com URL:http://surajproperty.blogspot.com/ Join Date: Sat, 29 Mar 2008 11:47:34 -0500 Rating:0 Site Description: United Kingdom REITs
The legislation laying out the rules for REITs in the United Kingdom was enacted in the Finance Act 2006 and came into effect in January 2007 when nine UK property companies converted to REIT status, including the five that were FTSE Site statistics:Click here
Real estate investment trust 2008-03-24 21:11:00 A Real Estate Investment Trust or REIT (pronounced /ˈriːt/) is a tax designation for a corporation investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90% of their income, which may be taxable in the hands of the investors. The REIT structure was designed to provide a similar structure for investment
in real estate as mutual funds provide for investment in stocks.Like other corporations, REITs can be publicly or privately held. Public REITs may be listed on public stock exchanges like shares of common stock in other firms.REITs can be classified as equity, mortgage or hybrid.The key statistics to look at in REIT are its NAV (Net Asset Value), AFFO (Adjusted Funds From Operations) and CAD (Cash Available for Distributio Read more:trust
Real estate broker 2008-03-31 00:35:00 A real estate broker is a term in the United States which describes a party who acts as an intermediary between sellers and buyers of real estate (or real property as it known elsewhere) and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his clients.Estate agent is the term used in the United Kingdom to describe a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country. Beyond the US, other countries take markedly different approaches to the marketing an
Types of services that a broker can provide 2008-03-31 00:33:00 Since each state's laws may differ from others, it is generally advised that prospective sellers or buyers consult a licensed real estate professional.Some Examples:Comparative Market Analysis - an estimate of the home's value compared with others. This differs from an appraisal in that property currently for sale may be taken into consideration (competition for the subject property).Exposure - Marketing the real property to prospective buyers.Facilitating a Purchase - guiding a buyer through the process.Facilitating a Sale - guiding a seller through the selling process.FSBO document preparation - preparing necessary paperwork for "Sale By Owner" sellers.Full Residential Appraisal - but only, in most states, if the broker is also licensed as an appraiser.Home Selling Kits - guides to ho
General 2008-03-31 00:30:00 The sellers and buyers themselves are the principals in the sale, and real estate brokers (and the broker's agents) are their agents as defined in the law. However, although a real estate agent commonly fills out the real estate contract form, agents are typically not given power of attorney to sign the real estate contract or the deed; the principals sign these documents. The respective real estate agents may include their brokerages on the contract as the agents for each principal.The use of a real estate broker is not a requirement for the sale or conveyance of real estate or for obtaining a mortgage loan from a lender. However, once a broker is used, the settlement attorney (or party handling closing) will ensure that all parties involved be paid. Lenders typically have other requir Read more:General
Real estate brokers and sellers 2008-03-31 00:27:00 Services provided to seller as clientUpon signing a listing contract with the seller wishing to sell the real estate, the brokerage attempts to earn a commission by finding a buyer for the sellers' property for highest possible price on the best terms for the seller. In Canada, most provinces' laws require the real estate agent to forward all written offers to the seller for consideration or review.To help accomplish this goal of finding buyers, a real estate agency commonly does the following:Listing the property for sale to the public, often on a Multiple Listing Service, in addition to any other methods.Based on the law in several states, providing the seller with a real property condition disclosure form, and other forms which may be needed.Preparing necessary papers describing the pro
Brokerage commissions 2008-03-31 00:22:00 In consideration of the brokerage successfully finding a satisfactory buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.In North America commissions on real estate transactions are negotiable and have been under pressure for numerous reasons the average commission has declined during the last decade from 6% to about 5%. Real estate commission is typically paid by the seller at the closing of the transaction as detailed Read more:Brokerage
The process of real estate development 2008-03-31 00:19:00 Although the process for development of real estate varies from project to project, the various phases can be categorized roughly as follows (in approximate chronological order):Market researchSite selection / feasibility analysisDue diligence / preliminary pro formaProperty acquisition, perhaps using option to buyProject design / refined pro formaObtain entitlementsFinancing / final pro formaConstructionLease-up / salesOperation (in cases where the project is retained as an asset)
Economics 2008-03-31 00:16:00 Real estate development is first and foremost a cash flow business.Real estate is, by its nature, an expensive non-liquid asset. This means that it costs a lot of money to own it, and it can be difficult to sell. In development activity, there are also the added costs of improvements themselves (typically called "hard costs") and the fees of various and sundry consultants necessary to get the work done properly (typically called "soft costs"). Because expense is high, sale is difficult, and return on investment is delayed, real estate investment is inherently risky. A large part of the work of developers is the management of risk.Since there are significant initial investment requirements, a majority of real estate development projects are financed with a large amount of debt leverage Read more:Economics
Where do developers come from? 2008-03-31 00:13:00 Although there are specific educational programs which are tailored to teaching real estate with an emphasis on development (in the United States, typically MBA programs at university-level business schools), or few universities that offer a Masters of Real Estate Development, most real estate developers enter the business from other professional areas. Most often, persons in related fields (architecture, accounting, law, engineering, construction, urban planning, landscape architecture, etc.) enter into real estate development via personal interest and opportunity, and then choose to make a career out of it if successful. An educational background in finance is typically a prerequisite for obtaining entry-level employment with an established development company, although many developmen
Building developers 2008-03-31 00:11:00 Building
developers acquire raw land, improved land, and/or redevelopable property in order to construct building projects. The buildings are then sold entirely or in part to others, or retained as assets to produce cash flow via rents and other means. Some building developers have their own internal departments for designing and constructing buildings (more common among larger developers), while others subcontract these parts of the work to third parties
Land developers 2008-03-31 00:10:00 Land developers typically acquire natural or "unimproved" land (often referred to as englobo land, raw land, real property with no improvements or infrastructure) and "improve" or alter it with utility connections, roads, earth grading, covenants, and entitlements. Infrastructure improvement provides a base for further development of built improvements. Covenants define the context in which future development of built improvements may take place (often in the form of deed restrictions on particular parcels: a sort of "private zoning code" limited only to those properties). Entitlements are secured legal permissions from regulatory bodies (typically in the form of permits, but sometimes in the form of re-zoning or planned unit developments). Once these improvements have been made to the raw
Real-estate developer 2008-03-31 00:06:00 A real estate developer (American English) or property developer (British English) makes improvements of some kind to real property, thereby increasing its value. In legal form the developer may be an individual, but is more often a partnership, limited liability company or corporation. However anyone involved as a principal in such transactions is a property developer by occupation.There are two major categories of real estate development activity: land development and building development (also known as project development).
Real-estate developer 2008-04-03 17:26:00 A real estate developer (American English) or property developer (British English) makes improvements of some kind to real property, thereby increasing its value. In legal form the developer may be an individual, but is more often a partnership, limited liability company or corporation. However anyone involved as a principal in such transactions is a property developer by occupation.There are two major categories of real estate development activity: land development and building development.
Land developers 2008-04-03 17:24:00 Land developers typically acquire natural or "unimproved" land (often referred to as englobo land, raw land, real property with no improvements or infrastructure) and "improve" or alter it with utility connections, roads, earth grading, covenants, and entitlements. Infrastructure improvement provides a base for further development of built improvements. Covenants define the context in which future development of built improvements may take place (often in the form of deed restrictions on particular parcels: a sort of "private zoning code" limited only to those properties). Entitlements are secured legal permissions from regulatory bodies (typically in the form of permits, but sometimes in the form of re-zoning or planned unit developments). Once these improvements have been made to the raw
Building developers 2008-04-03 17:21:00 Building developers acquire raw land, improved land, and/or redevelopable property in order to construct building projects. The buildings are then sold entirely or in part to others, or retained as assets to produce cash flow via rents and other means. Some building developers have their own internal departments for designing and constructing buildings (more common among larger developers), while others subcontract these parts of the work to third parties. Read more:Building
Where do developers come from? 2008-04-03 17:18:00 Although there are specific educational programs which are tailored to teaching real estate with an emphasis on development (in the United States, typically MBA programs at university-level business schools), or few universities that offer a Masters of Real Estate Development, most real estate developers enter the business from other professional areas. Most often, persons in related fields (architecture, accounting, law, engineering, construction, urban planning, landscape architecture, etc.) enter into real estate development via personal interest and opportunity, and then choose to make a career out of it if successful. An educational background in finance is typically a prerequisite for obtaining entry-level employment with an established development company, although many developme
Economics 2008-04-03 17:08:00 Real estate development is first and foremost a cash flow business.Real estate is, by its nature, an expensive non-liquid asset. This means that it costs a lot of money to own it, and it can be difficult to sell. In development activity, there are also the added costs of improvements themselves (typically called "hard costs") and the fees of various and sundry consultants necessary to get the work done properly (typically called "soft costs"). Because expense is high, sale is difficult, and return on investment is delayed, real estate investment is inherently risky. A large part of the work of developers is the management of risk.Since there are significant initial investment requirements, a majority of real estate development projects are financed with a large amount of debt leverag Read more:Economics
The process of real estate development 2008-04-03 17:02:00 Although the process for development of real estate varies from project to project, the various phases can be categorized roughly as follows (in approximate chronological order):Market researchSite selection / feasibility analysisDue diligence / preliminary pro formaProperty acquisition, perhaps using option to buyProject design / refined pro formaObtain entitlementsFinancing / final pro formaConstructionLease-up / salesOperation (in cases where the project is retained as an asset)
Real estate 2008-04-05 19:43:00 Real estate is a legal term (in some jurisdictions, notably in the USA) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location.[1] Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, in some situations the term "real estate" refers to the land and fixtures together, as distinguished from "real property," referring to ownership rights of the land itself.The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
Etymology 2008-04-05 19:41:00 In law, the word real means relating to a thing (res/rei, thing, from O.Fr. reel, from L.L. realis "actual," from Latin. res, "matter, thing"[2]), as distinguished from a person. Thus the law broadly distinguishes between "real" property (land and anything affixed to it) and "personal" property (everything else, e.g., clothing, furniture, money). The conceptual difference was between immovable property, which would transfer title along with the land, and movable property, which a person would retain title to. The oldest use of the term "Real Estate" that has been preserved in historical records was in 1666 .[2]The word is not derived from the notion of land having historically been "royal" property. The word royal—and its Portuguese cognate real—come from the related Latin word rex-
Real estate as "real property" in the U.K. 2008-04-05 19:39:00 In British usage, “real property
”, often shortened to just “property”, generally refers to land and fixtures as such while the term “real estate” is used mostly in the context of probate law, and means all interests in land held by a deceased person at death excluding interests in money arising under a trust for sale of or charged on land
Real estate in Mexico and Central America 2008-04-05 19:35:00 The real estate business in Mexico
and CentralAmerica
is different from the way that it is conducted in the United States.Some similarities include a variety of legal formalities, (with professionals such as real estate agents generally employed to assist the buyer); taxes need to be paid (but typically less than those in U.S.); legal paperwork will ensure title; and a neutral party such as a title company will handle documentation and monies in order to smoothly make the exchange between the parties. Increasingly, U.S. title companies are doing work for U.S. buyers in Mexico and Central America.Prices are often much cheaper than most areas of the U.S., but in many locations prices of houses and lots are as expensive as the U.S., one example being Mexico City. U.S. banks have begun to giv
Business sector 2008-04-05 19:33:00 With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:Appraisal: Professional valuation servicesBrokerages: Assisting buyers and sellers in transactionsDevelopment: Improving land for use by adding or replacing buildingsProperty management: Managing a property for its owner(s)Real Estate Marketing: Managing the sales side of the property businessReal Estate Investing: Managing the investment of real estateRelocation services: Relocating Read more:Business
, sector
Residential real estate 2008-04-05 19:32:00 The legal arrangement for the right to occupy a dwelling is known as the housing tenure. Types of housing tenure include owner occupancy, Tenancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, and squatting. Variants include timeshares and cohousing.Residences can be classified by if and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.Major physical categories in North America and Europe include:Attached / multi-unit dwellingsApartment ("flat" outside Nort
Market sector value 2008-04-05 19:28:00 According to The Economist, "developed economies'" assets at the end of 2002 wasResidential property: $48 trillionCommercial property: $14 trillionEquities: $20 trillionGovernment bonds: $20 trillionCorporate bonds: $13 trillionTotal: $115 trillionThat makes real estate assets 54% and financial assets 46% of total stocks, bonds, and real estate assets. Assets not counted here are bank deposits, insurance "reserve" assets, and human assets; also it is not clear if all debt and equity investments are counted in the categories equities and bonds. For U.S. asset levels see FRB: Z.1 Release- Flow of Funds Accounts of the United States. Read more:sector
, Market
Mortgages in realestate 2008-04-05 19:26:00 In recent years, many economists have recognized that the lack of effective real estate laws can be a significant barrier to investment in many developing countries. In most societies, rich or poor, a significant fraction of the total wealth is in the form of land and buildings.In most advanced economies, the main source of capital used by individuals and small companies to purchase and improve land and buildings is mortgage loans (or other instruments). These are loans for which the real property itself constitutes collateral. Banks are willing to make such loans at favorable rates in large part because, if the borrower does not make payments, the lender can foreclose by filing a court action which allows them take back the property and sell it to get their money back. For investors, prof
No title 2008-04-05 19:24:00 Neighborhood WatchHousing bubbleList of real estate topicsPrivate Equity Real EstateProperty rightsReal estate broker (in the USA) and Estate agent (in the UK)Real estate transactionBuyer brokerage (in the USA)Buying agent (in the UK)Real estate appraisalReal estate economicsReal estate pricingReal estate trendsReal property1031 exchange, IRC 1031 Tax-Deferred ExchangeReal estate transfer taxShort sale (real estate)Single Property WebsitesSubprime mortgage crisis
References 2008-04-05 19:20:00 ^ "real." The American Heritage® Dictionary of the English Language, Fourth Edition. Houghton Mifflin Company, 2004. Dictionary.com (accessed: January 26, 2008)^ a b "real", Online Etymological Dictionary^ Oxford Dictionary of Law (4th edition), New York: Oxford University Press, 1997; See also Estate in land
Real Estate Transaction Standard 2008-06-26 01:16:00 RETS is an acronym which stands for Real EstateTransactionStandard
RETS was created to overcome the difficulties presented by the existence of a large number of organizations desiring to share and distribute real estate information with others. RETS addressed this need by providing a common standard for the exchange of real estate data. Many MLS data exchange service providers use the RETS pro Read more:Real Estate
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