The small market towns and the picture postcard villages in rolling countryside make owning a latest luxury home in East Sussex something further special. With its great road and rail links to the coast and to London, easy access to Gatwick airport and first-class schools, East Sussex is a well-liked destination for families looking for something special. Described as ‘the cream of the crop’ by developers Ward Homes, Ashdown Place enjoys a stunning spot in the village of Five Ash Down, just outside the market town of Uckfield. These traditionally designed and built new homes comprise the luxury five-bedroom ‘Crowborough’, a separate home over three floors. The large kitchen/breakfast room lies at the heart of this family home, and is fitted to the highest standards, with open views of the rear garden and separate utility room. A formal dining room and large lounge make this the wonderful home for entertaining. Five bedrooms are set over two floors, with two en suites, a family bathroom and further shower room.

Mayfield Grange, Mayfield, lies in the heart of the county, just fifteen minutes from Royal Tunbridge Wells, with fast road and rail links to London. Weston Homes has completely refurbished the 19th-century Great Hall at Mayfield Grange, creating a series of superb new homes set in 20 acres of grounds. Plot 5 is a two-bedroom, first-floor fully furnished show home, priced at £545,000. This unique luxury home comprises 20-feet master bedroom, with en suite and 22-foot second bedroom, both with en suite bathrooms featuring Roca sanitaryware and solid-oak cupboards. Across the hallway, a 600-sq-ft living room leads to a fitted kitchen including a full range of Smeg appliances, stone work surfaces and under-pelmet lighting for that extra luxury feel.
Berkeley Homes is offering luxury by the sea at its All Saints development. Another stunning refurbishment of an historic building set in manicured lawns and gardens, All Saints sits close to parkland leading to Beachy Head and near to the beaches and facilities of the thriving town of Eastbourne. A limited number of two-bedroom apartments are available with prices ranging from £275,000 to £375,000.

Plot 14 is a luxury apartment set over two floors. Accommodation includes an open-plan kitchen/dining/living area, large bathroom and upper floor master bedroom with en suite and study. Finished to the highest standards, and close to all amenities, All Saints makes the perfect home by the sea, or retirement home for those seeking to downsize, with a full concierge service, including laundry, taxi and chauffeur services, reading room and residents’ gym.

There is just one home left for sale at Emett Gardens in the sought-after village of Ditchling. Hillreed Homes is presenting a rare opportunity to purchase a high-specification new-build home in this charming location. There are just three homes at Emett Gardens and the remaining five-bedroom detached property, the ‘Bromley’, exemplifies the attention to detail and uncompromising standards that have been applied at the development. The £1.2 million price tag secures a superbly designed, spacious home with ample reception rooms, two en suite bedrooms, an integral double garage and a large, secluded plot.

Crowborough is a busy market town with prosperous town centre, high street and regular farmers’ market. Two golf clubs and good local schooling and amenities make this a highly attractive area that is less than one hour by train from central London. Antler Homes is offering luxury living at Milne Square, Crowborough Hill, with prices from £417,950. Quality finishes are the hallmark of the ‘Hatch’ four-bedroom detached house at Milne Square, which benefits from spacious rooms and offers a wow factor in the shape of a spectacular vaulted ceiling lantern in the open-plan kitchen/family area.

A large living room leads onto a good-size rear garden and a separate study and downstairs cloakroom add to the feeling of space. Four bedrooms are set over the first floor, and include two en suites, a family bathroom and built in wardrobes. Alongside the house, which is priced at £525,000, is a double garage with private drive way offering parking for two additional cars.

SPRINGFIELD, Ill. — According to the Illinois Association of Realtors’ (IAR) fourth-quarter 2011 report, Illinois home sales (single family and condominiums) totaled 25,394, up 14.8 percent from 22,114 home sales in the fourth quarter of 2010. The 4Q11 statewide median home sales price was $128,000, down 10.8 percent from $143,500 in 4Q10. The median is a typical market price where half the homes sold for more, half sold for less.

“For homebuyers who are feeling confident enough to re-enter the housing market, this data shows there is great opportunity for them,” said Loretta Alonzo, CRB, GRI, president of the IAR and broker-owner of Century 21 Alonzo & Associates in La Grange Park. “Growing optimism about the economy and low interest rates generated a lot of interest in real estate in the final part of the year.”

The 4Q11 interest rate for 30-year, fixed-rate mortgages averaged 4 percent in the North Central Region, according to the Federal Home Loan Mortgage Corporation. It was down from 4.31 percent in the third quarter and also down from 4.44 percent a year ago in 4Q10.

“Looking forward, there is the likelihood that there will be year-over-year sales gains in the state through the first quarter of 2012,” said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois. “While we are seeing the time on market for homes decline to less than 10 months, the large foreclosure inventory could create some challenges in the housing market this year.”

In the Chicagoland Primary Metropolitan Statistical Area (PMSA) total home sales (single-family and condominiums) were up 20.4 percent in 4Q11 to 17,321 homes sold compared to 14,392 home sales in 4Q10. The region’s 4Q11 median price was $148,300, down 14 percent from $172,500 in 4Q10.

In the city of Chicago, total home sales (single-family and condominiums) in 4Q11 were up 11.1 percent to 4,225 sales compared to 3,804 sales in 4Q10. The city of Chicago median price was $159,999, down 8.6 percent from $175,000 in 4Q10.

“Chicago continues to show an absorption of properties in the market by aggressive buyers seeking great opportunities to purchase now,” said Realtor Bob Floss, president of the Chicago Association of Realtors and broker-owner of Bob Floss and Son Realty. “The decrease in median price and increase in units sold continues to show the downward pressure distressed sales still have on property values across the city. With interest rates at historic lows, and sellers and buyers looking to make real deals close, 2012 remains an excellent time for first-time, right-size buyers, or investors to get off the fence and make long-term investments in real estate.”

Sixty-one of 98 Illinois counties reporting showed year-over-year home sales increases in 4Q11. Forty-five of 98 counties reported median price increases during the period, including Coles, up 32.6 percent to $90,200; Kankakee, up 8.6 percent to $115,000; Madison, up 1.4 percent to $106,500; Menard, up 39.3 percent to $139,300; Monroe, up 2.1 percent to $165,000; and Whiteside, up 12.5 percent to $85,500.

Sales and price information is generated from a survey of Multiple Listing Service sales reported by 31 participating Illinois Realtor local boards and associations, including Midwest Real Estate Data LLC data as of Jan. 7, 2012, reported for the period Oct. 1-Dec. 31, 2011. The Chicagoland PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

Because of the rupee continues to fight a losing battle against the greenbuck, realty-sector is bucking up on a new trend.

Indians living overseas are now looking back home for some moneymaking gains as the currency market throws up good investment options. 28-year old Kabir Batra is living the great Indian dream in America, a secure job at Siemens, sufficient savings and now it is time for making future investing. And during his holiday trip to Delhi he spotted the right chance in Dwarka.

“I wanted to make a good investment in reality sector but last year I didn’t have enough funds, and this time it is a blessing in disguise as because of depreciating rupee, I am getting deals which are 20 per cent cheaper from last year,” said Kabeer Batra, a NRI.

And as the rupee continues to fight a losing battle against the greenbuck, realty sector is bucking up on a new trend.

“The main demand is coming from Dubai and interestingly new markets like South Africa are also witnessing a new change. Of course traditional markets like US and UK continue to generate demand front the NRI community,” said Anuj Puri, chairman of JLL.

Given that the rupee dollar price equality has resulted in at least 20-25 per cent discount on the project, developers are willing to extend further discount of 10-15 per cent to boost their sales. Many are participating in abroad road shows and have their bets on rupee-weakening further.

“We are looking at Dubai road show to get more sales from the NRI community which is abruptly in action owing to weakening rupee,” said Bandish Ajmera, chairman property exhibition at MCHI.

And while investors like Kabir continue to look for future investments here there is no-denying that for these developers weakening rupee is actually a gaining-strength.

HARRISON COUNTY – Drive anyplace on Highway 90 in Harrison County and you’re bound to see them. Sale-signs are posted on vacant lots up and down the beach-front highway.

A still dull economy and the high cost of post-Katrina insurance have both contributed to an copiousness of beach front property now on the market.

“With the taxes and the insurance, on top of the construction expenses to build up or set back, it’s made it almost infeasible to be able to build back on residential lots on Highway 90. It’s really, very costly. You’re going to have to have deep-pockets to do it,” said Windy Swetman.

Harrison County Supervisor Windy Swetman is also a residential-developer who keeps close tabs on the real estate industry. He says such lots have always been premium property, but elements like the storm and recession are having a detectable impact.

“They’ve always been high-dollar. The difference right at the present is that you have a higher premium on insurance that you’re paying and the recession. So, you’re in a recession, you have higher insurance, the taxes are even there at a high rate for them,” said Swetman.

“What I anticipate happening is the property along Highway 90, for the majority part, is going to become commercial over the next few years,” says Jerry Creel, the community development director for the City of Biloxi.

He says projects like the new McElroy’s will draw other development along the waterfront.

“Right now, we’re in discussions with eight hotels, six restaurants that all desire to situate along the beach. Just the discussion stage right now, but we’ll make some proclamation as those come to fruition,” said Creel.

He says tax credit programs that pardon property taxes for up to seven years are also an incentive for new development.

Needs to realise roughly Rs 3,000 crore to keep to debt decrease target for current financial year.

India’s largest developer by market capitalization, DLF Ltd, is banking on at least two to three big ticket sales in early 2012, to stay to its debt reduction target for the current financial year. The developer needs to realise Rs 3,000 crore to Rs 3,500 crore from noncore asset sales, to attain its 2011-12 goals.

Although the company is still far from the divestment figure it had set, Rajeev Talwar, executive director sounded sure about making it on time. He told Business Standard the developer was expecting a couple of big ticket sales before the current financial year closes.

Besides the much talked Aman-Resorts deal, DLF is looking at a transaction to offload stake in its Pune IT Special Economic Zone (SEZ), sometime early next calendar year, Talwar said. Another deal to sell stake in the Noida IT-SEZ is also in the offing. According to analysts, these three deals could fetch DLF Rs 3,300 crore.

“The Aman hotel sale is only at arm’s-length, but would not conclude this calendar-year. Early next year looks more likely,” said Talwar. The stake sale in Aman will exclude the Delhi hotel (earlier named Lodhi). Analysts said the Aman Resorts sale could be a projected Rs 2,000 crore deal. The Pune-SEZ deal could be worth Rs 900 crore and the stake sale in Noida SEZ could fetch the company between Rs 400 crore and Rs 450 crore.

The company may seem at selling the un-built land of DLF Hotels and Hospitality Ltd (DHHL), again as part of its noncore divestment strategy. “We will try to get the maximum valuation of the sale,” he said.

Earlier this week, DLF acquired an additional 26 per cent stake in its joint venture DLF Hotel Holdings Ltd (DHHL), from Aro Participation Ltd and Splendid Property Company, affiliates of Hilton International, for Rs 120 crore. The joint venture has one Hilton hotel, in Delhi.

Another divestment DLF has initiated is in Galaxy-Mercantile, a JV between DLF Home Developers Ltd and Infrastructure Development Finance Company. Four days ago, DLF announced signing an agreement to divest its entire stake in Galaxy-Mercantile. Galaxy will buy the entire DLF stake in the project for Rs 450 crore over the next 12 to 18 months. DLF has already received the first share of Rs 200 crore from this deal. The balance payment has been linked to various leasing milestones.

As for the SEZ-projects in Pune and Noida, DLF holds 70 per cent in both. The Pune SEZ is a joint venture with Ackruti City. According to Talwar, the company is in talks with Indian and foreign companies to sell its stake in the Pune SEZ. The industry buzz is that international private equity Major Blackstone will buy into DLF’s Pune SEZ. The Noida SEZ asset is a JV with another real estate company, 3C.

In the case of Aman hotels, DLF has got the final-bids from four or five companies. Khazanah, Malaysian government’s wealth fund, is being seen as the most possible buyer. Other prominent bidders include Kingdom Holdings, the company which owns the Four Seasons Hotel, and a Chinese hospitality group, it is learnt.

DLF’s net debt stood at Rs 22,519 crore as the half end of September. It aims to bring down debt to Rs 19,000 crore to Rs 19,500 crore by the end of this financial year, and to Rs 10,000 crore by 2013, through sale of noncore assets.

New home sales rose a bit in October, but the level of demand is historically very weak because of high-unemployment in the U.S. and competition from cheaper existing homes.

Sales increased by 1.3% to a seasonally adjusted annual-rate of 307,000 from a downwardly revised speed of 303,000 in September, the Commerce Department said.

Economists surveyed by Dow Jones Newswires had estimate sales would slip by 0.3% to an annual-rate of 312,000.

The average price in October for a new home was $212,300, higher than the level of $204,200 a year earlier and as yet down from the month earlier.

Uncertainty in the direction of home prices can give would-be buyers second thoughts, with some of them waiting for a better deal. Owners who want to sell, on the other hand, tend to take their property off the market until prices steady a trend that adds to inventory in the future and depresses-prices further.

New homes are, generally, more expensive than previously owned property. People have been particularly attracted to foreclosed homes because of the low-price tags.

New-home sales amount to about a quarter of their peak before the bubble began deflating around five years ago. Sales are way below healthy levels, considered to be an annual rate of around 750,000.

Year over year, new-home-sales were 8.9% above the October 2010 level.

Because many people have much of their net worth tied up in their homes, the bursting of the price bubble made consumers feel less wealthy and discouraged spending. The economy slouches from late 2007 to mid 2009. It has been trying to retrieve strongly but unemployment stays high.

For the housing sector to recover, the economy needs to create more jobs and housing prices must steady. But economists think prices will keep falling because the foreclosure-pipeline is long. Falling prices pull more homes “underwater,” which mean the owners owe more on their mortgages than the property is worth. That leads to more foreclosures and lower prices.

With builders pessimistic, the no of new-homes listed for sale at the end of October was 162,000, which is historically low. That supply would take 6.3 months to reduce at the current sales speed and is around a healthy-level. The supply in September was 6.4 months.

The Commerce statement said October new home sales were mixed. New home Sales rose 14.9% in the West and 22.2% in the Midwest. Sales were flat in the Northeast and fell 9.5% in the South.

Washington is getting ready to sell off state assets to increase painfully required revenue, a yard sale of sorts favored by both Democrats and Republicans.

Items up for tender contain an island, an airstrip, vehicles, roads, buildings, land even the airwaves used to broadcast television, the New York Times reports.

Some properties might require some tender loving concern, but with a little love and some strong chemicals a house once belonging to the Animal Disease Center can become a loving home.

Republicans like privatization because it shrinks the government.

Democrats wish it for raise income painlessly.

“This is something that we can have two-way contract on,” says Representative Jeff Denham, R-Cal.

Close to $20 billion could come from vacant airwaves, and $4 billion from disembarrassing government entities of belongingness they don’t necessitate and help narrow deficits.

A congressional super committee is musing ways to shave $1.2 trillion off U.S. deficits over 10 years.

President Barack Obama, at the same time, is calling for $1.5 trillion in new incomes that accompanies his $447 billion jobs creation plan, which trusts heavily on slashing payroll taxes.

An unemployment rate stays high, and some say the country wants to get used to high joblessness, which won’t come down much for another two years.

“Growth stays sluggish and deficient to cut down the unemployment rate,” Ryan Sweet, an economist at Moody’s Analytics, says in a message to clients, the Associated Press reports.

CEOs at big companies are more unenthusiastic than they were just three months ago, according to a survey by the Business Roundtable, a trade group.

About one third of the CEOs say they plan to take on or improve spending in the next six months, down from half in June, the survey finds, the AP adds.

Real Estate Company Sobha Developers today tell it will invest Rs 250 crore to develop its property in Chennai.

Sobha Developers

“We will be launching in new areas. We will be launching in Chennai, whereas the property will be spread over 1 millionsq ft. The investment cost for this is Rs 250 crore,” Sobha Developers Managing Director J C Sharma told the media on the sidelines of the Real Estate Investment Forum and Business Spaces 2011.

On the company’s income, he said, “We are expecting Rs 1,500 crore values of new space sales (in the current fiscal) from Rs 1,100 crore last year.”

The firm registered a net profit of Rs 182 crore in FY’11, a raise of 32.85%from Rs 137 crore posted in the year ago period of time.

Sobha sold 2.78 million square feet in FY’11 as against 2.08 million square feet in the year since period of time.

The Bangalore based company said its whole debt stood at Rs 1,300 crore and it will repay close to 35% of the same this year. “Our total debt is Rs 1,300 crore. In FY’ 12, we have to repay Rs 450 crore.”

The debt to equity ratio of the company is 0.65:1, the greatest it has ever had, Sharma said.

Asked how the company will finance the debt repayment, Sharma said all the needed requirements were made to fulfill its obligations.

DLF largest real estate company

India’s largest real estate company DLF Ltd said it will sell at least two non-core assets in this quarter, helping it partly cut down its net debt of Rs 21,524 crore commencing this quarter.

“We should be able to achieve that in Q2,” the company’s executive director, Saurabh Chawla, said in an analyst call. He said that the company expects to sell as a minimum four non-core assets for the moment.

In a statement in May, DLF had said it plans to raise about Rs 6,000-7, 000 crore over the next 2-3 years through the sale of its non-core assets such as IT parks, land parcels and its hotels business and use the proceeds to reduce debt.

The company’s net debt marginally increased Rs 100 crore during the April-June quarter this fiscal to. 21,524 crore. “While debt levels have remained similar to the previous quarter, our momentum on the non-core asset/business divestments have collected pace and these coupled with operational cash flows will help us in moderating our current debt levels,” said Ashok Tyagi, group CFO at DLF.

The company had said earlier that it would concentrate on selling plots. It was reported earlier that DLF is in the process of selling its shareholding in two IT buildings in Pune and Noida.

real estate investment

Global direct real estate savings volumes in the second quarter of 2011 totaled more than US$101 billion, up seven percent from the previous three months and 47 percent from the second quarter 2010

The Americas experienced the most property trading activity since late 2007, moving to the top spot as activity catches up to the early movers in other regions. All property sectors in the United States experienced strong growth given the increased debt availability and a hunger among investors for yield options in the very low interest rate environment.

Volumes for the region rose 56 percent from the first quarter of 2011 to US$49 billion. Canada also saw a sharp bounce, with activity more than tripling from first quarter 2011. South of the border, Brazil slowed from the heated pace of the prior two quarters as several very large portfolio sales were digested. The volume of investment flows in the Americas should remain strong throughout the year, though at a slower pace of growth than previously witnessed.

Meanwhile, in Europe, the Middle East and Asia (EMEA), investment volumes broadly stood still in the second quarter at US$34 billion, while registering moderate growth compared to the same period of 2010.

A strong upswing in the Nordics and in Russia was offset by a modest cooling off in the UK and a bigger slowdown amidst the troubled southern periphery, with the notable exception of Italy, which experienced a slightly smaller dip. In the Middle East, activity remains muted at present, the region is more notable as a source of capital.

Finally, in Asia Pacific there was a sizable fall (30 percent) in volumes compared to the previous quarter, but still a decent gain year-on-year to US$18.5 billion.

The natural disasters in Japan, the region’s largest property investment market, aggravated a normal seasonal slowdown. It is not surprising that healthy markets elsewhere in the region, including strong growth in Australia and steady levels of activity in China and Hong Kong, failed to make up the shortfall.

Global forecast
Looking ahead to the rest of the year, Jones Lang LaSalle’s Global Capital Markets Research Director Paul Guest said, “Our forecast calls for a further US$240 billion to transact in the second half.

There are several supportive factors to note: Japan will rebound from March’s natural disasters; there is additional bank product coming up for sale in Europe and the United States, some of it very good quality; and the large emerging markets appear to be absorbing the impact of regulatory measures without a ‘hard landing’. Nonetheless, the rate of growth has started to decelerate and this will continue, particularly as central banks continue to tighten around the world.”

Historic worldwide Direct Commercial Real Estate Volumes, US$ billion

Investment volumes rise