Real Estate Investor Blog

What $1 Million Buys In Homes Across The United States

Praise Realty Marketing Corporation — Sat, 23 Feb 2008 10:00:00 +0000

Shopping for a seven-figure spread? You're in luck.

That's because nationwide, homeowners are slashing asking prices, often by significant margins, making this year's list of million-dollar properties much more palatable than those in years past.

These homes are still beyond the means of the average American, but there's some comfort in a million-dollar home looking like a million-dollar home rather than a hastily built McMansion or a shoebox-sized studio apartment.

In Los Angeles, $1 million buys a four-bedroom, Craftsman-style Hollywood home with wood-beamed ceilings typical of turn-of-the-century California architecture. In Texas, seven figures nets a 5,522-square-foot, five-bedroom house in Dallas, or a 5,520-square-foot, six-bedroom home in Houston.

In the Big Apple, $1 million buys much less.

Assuming you meet the approval of the co-op board, "for a million bucks you get a sweet one-bedroom apartment, or a humble two-bedroom apartment," says Harry DiOrio, a broker with Prudential Douglas Elliman in New York.

If "you're forced into the higher-priced world of condos, you can forget about the two-bedroom on a million-dollar budget, unless, of course, you're willing to cross the river into Brooklyn or Queens or head north into Harlem."

Stick to Manhattan, and your bucks will bag you a 611-square-foot one-bedroom apartment, close to the East River with views of the city, the bridges, Brooklyn and Queens, and access to a pool, garden and spa--but almost a mile from the nearest subway stop.

Luxury List

Forbes.com studied the 15 largest U.S. metro areas and developed a list of real estate's most basic luxury unit, the million-dollar home. We included properties from New York to Seattle, and home styles ranging from city townhouses to suburban Victorians.

In places hit hardest by the subprime crisis, buying a million-dollar property might seem a silly notion. But there exists a market for such homes.

Those looking in the Detroit metro might head to Pleasant Ridge, an affluent community with around 2,000 residents just outside the city. Here, one can buy a fetching Tudor-style home of ivy-covered brick, with 4,000 square feet of space, for $1 million.

In spots largely unaffected by problematic lending or other economic conditions, such as California's Bay Area, a million dollars doesn't seem wildly excessive: The median home price in San Francisco is $846,800; it's $852,500 in San Jose.

These prices are the result of concentrated wealth in the local economy, high regulatory and business costs for builders that are passed along to buyers, and a very small, confined geographic space that allows for little new development.

"A million dollars won't get you very much," says Courtney Charney, a broker with Alain Pinel Realtors in Atherton, Calif. If you go for an area with good schools, she says, "You're probably only getting a thousand square feet."

In San Francisco proper, prospects are a bit more grim, as a million bucks won't buy a house without shared walls. That's right--even in cheaper areas, like the Sunset, houses are so tightly packed that they bump up against one another.

Still, there are suburbs, like Burlingame, Calif., between San Francisco and San Jose, where $1 million translates into a modest 1,650-square-foot house with three bedrooms and a good-sized yard.

But if you move into a desirable suburb, a million will only land a "second-tier location," says Charney.

Best Bets

Prime California markets have always been off-kilter, but in cities such as Minneapolis and Boston, $1 million buys a good-sized house in a desirable neighborhood. In the Fremont section of Seattle, residents have views of the city skyline as well as Mount Ranier.

Here, seven figures buys a three-bedroom, two-bath home on a terraced ridge, with large windows to take advantage of the sunlight and bird's-eye view.

No plans to settle in Seattle? Take comfort in this: While home sales nationwide are at a historic low, those at or above the $1 million mark can be yours for less.

By Matt Woolsey, Forbes.com
Feb 19th, 2008

Richest Man In India Builds $1 Billion House

Praise Realty Marketing Corporation — Thu, 21 Feb 2008 05:54:00 +0000

At 27 Stories, Mukesh Ambani's Home Will Have a Helipad, a Health Club and 600 Servants

Up a winding, tree-lined street away from the constant chaos of India's financial capital lies the construction site for what is believed to be the most expensive home in the world.

The house -- more like a tower, really -- is estimated to cost $1 billion, and its future resident, Mukesh Ambani, is India's richest man.

And what will make up the dream home of the man who Conde Nast's Portfolio magazine calls India's first rupee trillionaire? Perhaps it would be easier to answer what it doesn't have, because the dream home seems to be missing nothing.

Publications ranging from Portfolio to the The Guardian have run features on the skyscraper home, citing various amenities, which include, of course, a swimming pool, multiple "safe" rooms and 600 servants.

Along with a health club, the abode will reportedly have a home theater and a helipad, and the tower will include six floors for 168 car parking spaces.

At 570 feet tall, the home's 27 stories will look more like 60 because the ceilings are so high, according to The Guardian.

All of this for one family consisting of Ambani, his wife, Neeta, their three children and Ambiani's mother.

The glass house -- named Antilia after a mythical island -- was designed by Chicago architecture firm Perkins & Will.

In a city where about 6 million people live in slums, where apartments that rent for $20,000 a month can claim views of both the Arabian Sea and homeless people relieving themselves, where the rich live among their poor servants, Ambani's display of wealth has drawn criticism.

One local newspaper columnist called it "an edifice to his ego." Others have likened Ambani to ostentatious and wasteful Indian rulers of the past.

Forbes magazine has listed Ambiani -- with a net worth of $22 billion -- as the 14th-wealthiest man in the world, whose Reliance Industries Ltd. is India's largest private company.

In November, the Mumbai Mirror reported he bought his wife a luxury jet -- estimated at $60 million -- for her 44th birthday.

But outside the construction site, where a crane hovers above the concrete and steel, and workers ride elevators to reach the upper levels, it seems that Ambani's wealth is not resented but revered.

"We are proud of him," said Bhavanesh Asar, a 30-year-old IT project manager.

KAREN RUSSO, ABC News, Jan. 29, 2008

Joining Forces To Start A New Revolution in the Philippines February 23-25

Praise Realty Marketing Corporation — Mon, 18 Feb 2008 03:48:00 +0000

Praise Realty Marketing Corp. and Aredconsult, Inc. have joined forces this February 23-25 by launching The Global Filipino Conference that will unite different Pinoy organizations, local and abroad.

The date cannot be lost to majority of Filipinos because it is the date of the EDSA Revolution.

The PinoyConference.com homepage shall be launched on February 26.

The Global Filipinos Conference initiative shall create a big directory of organizations, associations, and movements that the members can join later.

It will initially offer online learning modules for individual subscribers such as self-improvement, online entrepreneurship, work-at-home, investing, personal finance, blogs, forums, and chats.

In the immediate future, Instructor-Led Training (ILD) will be held.

Praise Realty Marketing Corporation owns PraiseRealty.com.ph, one of the Top Ten real estate marketing websites in the Philippines based on Alexa.com.

Aredconsult.com specializes on business marketing and one of the pioneers of internet marketing in the Philippines since 1999.

We are now accepting free membership at http://mysearch.ph/pinoy-network/

Another Masterpiece from Palafox Associates

Praise Realty Marketing Corporation — Sat, 09 Feb 2008 07:02:00 +0000

Discover the Essence of Prestige Right Across Ayala Alabang.

Versailles Project Briefing was conducted by Ms. Emi Pulido, The President and CEO of Praise Realty Marketing Corporation last January 25, 2008, to all her staff.

Masterplanned by the internationally recognized Architect and Urban Planner, Felino A. Palafox, Jr., together with Jurong Consultants Pte. Ltd. of Singapore, the houses were designed by Palafox Associates and Rolando Mercado.

It is adjacent to the plush Ayala Alabang Village, Alabang Golf and Country Club, and the exclusive schools of the De La Salle Zobel and Woodrose.

A 5-minute drive to Alabang Town Center, Festival Mall, the ultra modern Asian Hospital and Medical Center, and the business districts of Madrigal Business Park and Filinvest Corporate City.
The project is 75-hectare development with the lot areas ranging from 240 to 500 sq. m.

Mediterranean ambiance is perfectly recreated through designed grillworks, sculptures, carved patios, lamp posts and water fountains.

You have 3 choices - The Cambridge (http://praiserealty.com.ph/versailles_cambridge), Versailles Chateau (http://praiserealty.com.ph/versailles_chateau), and Versailles house and lot at http://praiserealty.com.ph/versailles

Special Interests and Unique Advices by The eClectic Advisor

Praise Realty Marketing Corporation — Fri, 08 Feb 2008 05:45:00 +0000

MySearch Philippines website (www.mysearch.ph) was recently relaunched as The eClectic Advisor.

It now aims to give people unique advices, in each topic, on how to do something better.

What people want nowadays are unique advices or solutions on how to do something better, that will make their lives happier, easier, fuller, and more satisfying.

Websites that offer answers or solutions, i.e. Yahoo Answers, LinkedIn Answers, etc., are now becoming popular on the Web due to the Social Networking and Web 2.0 phenomenon.

MySearch.ph website is owned and created in 2001 by the Praise Realty Marketing Corp. (www.praiserealty.com.ph)

It listed important information and knowledge bases about the Philippines for the general web audience.

What makes Mysearch.ph different from other websites is that there are at least 90 interactive blogs where readers can post comments.

Topics ranges from:

-lifestyle, weddings, investing, travel, business, personal improvement, etc.

For "weddings" theme, it has 3 blogs that deal separately with wedding activities, wedding favors, and wedding dresses.

MySearch.ph also had a good discussion on personal finance, investing basics, and real estate investing.

Proceed now to the website and scroll the leftside navigation for any topic of interest to you at http://www.mysearch.ph/

2008 Winning Real Estate Tactics by Donald Trump

Praise Realty Marketing Corporation — Tue, 22 Jan 2008 06:57:00 +0000

In Real Estate, the Wisest Negotiators always win. Donald Trump spends lots of time preparing for negotiations, which usually gives him the edge.

"I believe that the key to striking a deal is persuasion, not power. Persuasion is diplomacy at its best - the ability to convince people to accept your ideas." - Trump.

Read more Investing Tactics to Navigate Wisely in All Types of Real Estate Markets at http://www.trumpuniversity.com/connect/newsletters/itt/issue101.cfm#1

Why Real Estate May Be the Only Real Mainstay Market

Praise Realty Marketing Corporation — Sun, 16 Dec 2007 11:58:00 +0000

Even though the real estate market rises and falls, there are still many benefits to being in real estate. You can expect that if something happens that causes the real estate to lower, it will eventually come back up.

There is always a need for housing and people are always moving into different locations.No matter what type of real estate you are investing in, you can expect that someone will have the need to live on the property.

Because real estate is part of the basic needs of individuals, it can be expected that someone will always be looking, and others will always be selling.

Read more Why Real Estate May Be the Only Real Mainstay Market at http://praiserealty.com.ph/real_estate_investing_guide/why-real-estate.htm

Do you want to reach your financial goals faster?

Praise Realty Marketing Corporation — Fri, 07 Dec 2007 14:03:00 +0000

Key Milestones on Selecting a Property to Invest In:

1. Analyzing a property,

2. Preparing and negotiating offers, and

3. Managing properties

In short: these are your focus to help you build your fortune on real estate investment.

Avoiding Extra High Financing Costs

Praise Realty Marketing Corporation — Sat, 27 Oct 2007 04:07:00 +0000

One of the easiest ways to avoid extra costs is to make sure that you pay your loan on time. Usually, mortgage companies will add in extra finances if you don't pay by a date that they have set for you.

Read more at Avoiding Extra High Financing Costs (http://praiserealty.com.ph/real_estate_investing_guide/avoiding-extra-high-financing-cost.htm)

Condominiums - Best Value For Your Money

Praise Realty Marketing Corporation — Sun, 07 Oct 2007 14:00:00 +0000

Here are tips that will help further develop the Philippine real estate industry, specifically in condominiums.

First is to give them quality. People dream of living in thematic, nice, clean, and secure communities. Perhaps, an upgrade of their current standard of living. And Quality need not be expensive.

Second is making the condominium more affordable to a big number of Filipinos.

Third is location. It must be located near key urban centers like schools, malls, hospitals, business centers etc. This allows the buyers to spend more time with their family than on the road.

Fourth is speed. The construction must be fast so that no investment is sleeping.

Fifth is promotions. You've got to let the people know what you're selling. However, you've got to be truthful in your claims and make sure you deliver them. However, there's nothing like a satisfied customer at the end of the day.

Buyers have become more knowledgeable and discriminating over the years through the media and the information highway.

But you must have more choices.

I highly recommend browsing our list at Condominiums For Sale In the Philippines (http://www.condominiums.com.ph/)

Him And Her

Praise Realty Marketing Corporation — Fri, 28 Sep 2007 11:41:00 +0000

Hello there, it's Friday evening here. T.G.I.F.

I would like to break the seriousness of today with some jokes I have lifted from an email I received, you know the type going around.

Before you paint the town red tonight, proceed to read ...

A man will pay $2 for a $1 item he needs. A woman will pay $1 for a $2 item that she doesn't need.

A woman worries about the future until she gets a husband. A man never worries about the future until he gets a wife.

A successful man is one who makes more money than his wife can spend. A successful woman is one who can find such a man.

To be happy with a man, you must understand him a lot and love him a little. To be happy with a woman, you must love her a lot and not try to understand her at all.

Married men lived longer than single men, but married men are a lot more willing to die.

Any married man should forget his mistakes - there's no use in two people remembering the same thing.

Men wake up as good-looking as they went to bed. Women somehow deteriorate during the night.

A woman marries a man expecting he will change, but he doesn't. A man marries a woman expecting that she won't change, and she does.

A woman has the last word in any argument. Anything a man says after that is the beginning of a new argument.

There are two times when a man doesn't understand a woman: before marriage and after marriage.

Marriage Builds Wealth

Praise Realty Marketing Corporation — Tue, 25 Sep 2007 12:13:00 +0000

Married people accumulated wealth much faster, accumulating 93 percent more than single or divorced people.

A study by an Ohio State University researcher, Jay Zagorsky, shows that a person who marries - and stays married - accumulates nearly twice as much personal wealth as a person who is single or divorced.

Zagorsky, a research scientist at OSU's Center for Human Resource Research, tracked the wealth and marital status of 9,055 people from 1985 to 2000.

Married people work harder, they advance further in their job, they save more money, and maybe invest more wisely.

That's because, one can speculate, they are now working for something larger than themselves. They are working for a family.

Zagorsky's study defines wealth as the total value of a person's assets, such as real estate, stocks and bank accounts, minus liabilities, such as mortgages.

I am posting this study because real estate is such a real asset that adds to your wealth.

Simply ask Ken Kiyosaki (Rich Dad Poor Dad) and Donald Trump. They even have their own respective affiliate program that teaches money management AND real estate investing.

I specialize on Philippine real estate listings. I have accumulated more than 20 years of experience in this industry and I will surely stay.

I highly recommend Somerset Place (http://praiserealty.com.ph/somerset) in Pasig City to start accumulating your personal wealth.

If you want down south of Metro Manila, I highly recommend Versailles (http://praiserealty.com.ph/versailles) and Portofino (http://praiserealty.com.ph/portofino), both in Alabang.

The Woman Who Won Twice In The Lottery

Praise Realty Marketing Corporation — Sun, 23 Sep 2007 07:56:00 +0000

A woman who won $1 million from a state lottery game four years ago has improbably hit the jackpot again in September of last year, according to Newsday.

Overall, her chances of winning both games were a slim 1 in 3,669,120,000,000.

Valerie Wilson, who works at a Long Island deli, said she won another $1 million in New York lottery's Jubilee scratch-off game. The prize will be paid out in $50,000 installments over 20 years.

Guess what she bought from her winnings? Real Estate Investments.

Wilson said she used her first winnings to help buy homes for her three children.

Was her decision just a providential act to her children or she just simply saw a solid investment in real estate vs. other types of investments?

Real estate investments simply makes sense.

Praise Realty aims to provide investors like Valerie Wilson with a solid choice of house and lot for sale in the Philippines. We welcome foreign real estate investors.

Simply proceed to our prime Philippine real estate listings (http://praiserealty.com.ph/)

Investing to Profiting

Praise Realty Marketing Corporation — Thu, 13 Sep 2007 23:30:00 +0000

The fundamental principles of real estate investing still apply:

1. Develop realistic objectives as an investor.

2. Know the actual market value of the properties you buy so you do not overspend on the purchase price or on renovations.

3. Know everthing you can about current mortgages (and other borrowing options) so you know the real cost of any deal you put together.

So, how should you invest in this uncertain market?

The only certainty is that the more you know, the more you stand to make - and the more you can minimize your risk.

You can't hide from the trends. You need to master them.

Read my article on Investing To Profiting (http://praiserealty.com.ph/real_estate_investing_guide/investing-to-profiting.htm)

Types of Real Estate Investments

Praise Realty Marketing Corporation — Wed, 12 Sep 2007 04:43:00 +0000

If you want to make a different type of investment in something that you know you can make a profit out of, then knowing the different types of real estate investments can help.

Real estate investments begin with two major types; business and residential.

Read more at Types of Real Estate Investments (http://praiserealty.com.ph/real_estate_investing_guide/types-of-real-estate-investment.htm)

The U.S. Subprime Mortgage Financial Crisis For The Layman

Praise Realty Marketing Corporation — Tue, 11 Sep 2007 11:53:00 +0000

Subprime lending is a general term that refers to the practice of making loans to borrowers who do not qualify for market interest rates because of problems with their credit history or the ability to prove that they have enough income to support the monthly payment on the loan for which they are applying.

These are loans or mortgages made to homeowners with poor credit ratings. Loans made to these people are of considerable risk because these borrowers are more likely to default on their loans since they already had financial problems before taking on the loan.

After a subprime loan is issued to homeowners, issuing banks usually sell these loans to investors. To compensate for the high risk, subprime loans typically pay higher yields.

Attracted by the higher yields, a number of mutual funds and hedge funds in the US invest in these loans.

In the 20th century, collateralized debt obligations became popular investment vehicles, in use world-wide.

Traditionally, when payments on a mortgage were late, the personal relationship between debtor and creditor allowed some leeway when paying off a mortgage.

But when subprime mortgage-backed securities were collateralized, the traditional links between lenders and their creditors were severed.

This created a vicious circle when subprime loan payers defaulted on their obligation, leaving foreclosure of their mortgages as the only perceived recourse for investors in the loan.

When other homeowners with mortgages also attempt to meet their financial obligations, some of them put their homes up for sale, which drags down the price of other houses in their neighborhood, not merely those houses with subprime mortgages.

Subprime woes is not yet a threat to Philippine banks.

PHILIPPINE property firms that have sold to Filipinos in the United States may yet feel the full impact of that country's subprime mortgage meltdown.

Some Filipino expatriates might have tapped the "home equity line of credit" or HELOC to finance condominiums or vacation homes in the Philippines.

They may have borrowed a big amount there in the US to pay for their condo in the Philippines in cash than pay the interest rates of 11 percent to 12 percent here in the Philippines.

With that, there is little danger that there will be a default on condo payments here and the Pinoys would just face the amortization problems with their loan providers in the US.

Another good thing going for local property firms is the value Filipinos, be they in the Philippines or elsewhere, attach to home ownership.

Filipinos would not stop paying for their property acquisitions here in the country even with the US subprime mortgage crisis.

If things turned for the worse, then buyers would just extend their payment period or have their loans reassessed.

That would especially apply to overseas Filipino workers, who still consider the Philippines as their country of residence and buy homes for their families.

Take a look now on 3 prime real estate investments that I highly recommend to our Global Pinoys:

1. Versailles (http://praiserealty.com.ph/versailles/index.htm)

2. Portofino Alabang (http://praiserealty.com.ph/portofino/index.htm)

3. Somerset Place Pasig (http://praiserealty.com.ph/somerset/index.htm)

Property Investments in the USA, China, India, Philippines

Praise Realty Marketing Corporation — Mon, 10 Sep 2007 12:23:00 +0000

In the United States, it is a tale of two industries, with housing in decline due to excessive supply and a meltdown in subprime mortgage lending, which has prompted an otherwise healthy commercial real estate industry to tighten up its lending practices.

Global real estate investment is still buoyant but a few cracks are starting to show as higher borrowing costs begin to bite, making 2007 a pivotal year after an extended bull run in property prices.

But worries over U.S. subprime mortgage loans and Spanish housing, tighter Chinese regulations, cancelled property company flotations, and weak debuts by British real estate investment trusts (REITs) suggests the market is at a turning point.

Soaring prices in some Asian hotspots, such as major Indian and Chinese cities, have provoked fears that risky bubbles are forming and price corrections are on their way.

In China, the government is trying to cool the market with a raft of measures to deter speculation, including taxes and interest rate rises.

But in India, an influx of foreign funds has helped double property prices in Mumbai and New Delhi over the last two years.

The Philippines remained a bright spot.

Singaporean firms are moving forward in the properties investment. Philippine Apart-Hotel or Condotel Property are being snapped up by lively UK investment funds.

Proceed now to 2 Philippine condos that I highly recommend:

1. CVG Global Towers (http://praiserealty.com.ph/cvg/index.htm)

2. Makati Executive Tower (http://praiserealty.com.ph/makatiexec/index.htm)

The Lady CEO With A Passion

Praise Realty Marketing Corporation — Sun, 09 Sep 2007 05:39:00 +0000

Passion for work and determination to succeed. These are the secret traits of businesswoman, M.B.A. and Ph. D. holder Emi Pulido for her successful real estate marketing business.

Read more about Emi at Successful Filipino Business Entrepreneur

Hello World !!!

Praise Realty Marketing Corporation — Sat, 08 Sep 2007 06:12:00 +0000

This is the official corporate blog of Praise Realty Marketing Corporation and its President & CEO.

Corporate Website: House and Lot For Sale in the Philippines

Corporate Address: Rm. 1109 Herrera Tower, Rufino corner Valero Sts., Salcedo Village, Makati City, Metro Manila, Philippines