...Chapter 13 key terms: Armin Hadziomerovic Acceleration Clause- A contract provision that allows a lender to require a borrower to repay all or part of an outstanding loan if certain requirements are not met. Ad Valorem Taxes-is a tax based on the value of real estate or personal property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). Assessment-the evaluation or estimation of the nature, quality, or ability of someone or something. Assignment of Rents Clause- is a provision in a deed of trust or mortgage. Bearer- a person who presents a check or other order to pay money. Bona Fide Purchaser for Value- referred to more completely as a bona fide purchaser for value without notice – is a term used in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property. Broker Lien- a right to property or payment that a broker has if the buyer does not pay the money owed to the broker for a sale: Collateral- something pledged as security for repayment of a loan, to be forfeited in the event of a default. Contractor- a person or company that undertakes a contract to provide materials or labor to perform a service or do a job. Default Clause- a failure to act, esp. a failure to meet a financial obligation or to appear in a court of law at a time specified Deficiency Judgment- is an unsecured money judgment...
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...Joe Morris Real Estate Extra Credit Assignment Chapter 4 Ad Velorum Taxes are property taxes that are based on the market value of the property. Affordable housing allocation is a requirement that encourages or mandates a "reasonable and fair" component of new housing construction for lower-income families. Assessed Value is the value determined as the basis on which an owner's property tax liability is calculated, usually a percentage of market value Board of adjustment refers to that in local zoning law, a board of citizens, appointed by the governing body, to hear and make determinations on appeals for zoning variances. The board of adjustment is somewhat unique in that its determinations are final rather than merely recommendations to the governing body. They can be appealed only in court. Comprehensive Plan is a local government's general guide to a community's growth and development based on the community's goals and objectives. Concurrency is the requirement that public facilities and services, including roads, sewers and schools be available at the same time new development is completed Condemnation is the legal procedure involved with eminent domain, the right of government to acquire private property, without the owner's consent, for public use in exchange for just compensation. Dedicated (property) is the conveyance of property form a private owner to government for public use. Common examples are the dedication of streets, parks, or other areas to local government...
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...subject area i.e. the impact of middle class on the real estate sector. The chapter links to the Research Objectives and contains secondary analysis and descriptions, which may provide a platform for later evaluation. According to a research by Deutsche Bank, World Bank, McKinsey and CNN- IBN(Sources should be with year example So Deutsche Bank,(Year) ), the total Indian middle class ranges from 300 million to approximately 360 million people; this comprises less than 30 percent of the total population of 1.2 billion (Please refer Chart 1 below). For multi-national corporations and domestic real estate companies, the middle class in India thus presents significant business opportunities. Over the last several years, the overall growth in the real estate sector has burgeoned and this explosion is primarily due to the aspirations of the lower middle, middle and upper middle class of India. Apart from this a whole new range of investment options in the real estate sector has increasingly gaining acceptance. However, keeping in mind the exposure and increasing needs and desires of the middle class, not many significant efforts have been made towards educating the masses. Dire improvements are needed to match the needs of the growing middle class and educate the masses about the real estate sector, which primarily is an unorganized sector. In order to ensure that the growing middle class integrates and understands well about the real estate, the right education has to be on everybody’s...
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...Relationship between Real Estate and Financial Sectors in Dubai Economy Dr. Eisa Abdelgalil Data Management and Research Department Table of Contents Table of Contents............................................................................................................i ......................................................................................................................ﻣﻠﺨﺺ ﺗﻨﻔﻴﺬيii Executive Summary ..................................................................................................... iii 1. Introduction................................................................................................................1 1.1 Background ..........................................................................................................1 1.2 Objective ..............................................................................................................1 1.3 Research questions...............................................................................................1 1.4 Methodology and data..........................................................................................2 1.5 Outline of the study..............................................................................................2 2. Dynamic of Real Estate Market.................................................................................3 3. Impact of Real Estate on Financial Institutions ........................................................
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...TRAINING REPORT ON “Growth of Real Estate Sector with in 5years” A case of Corporate Real Estate Solutions Submitted to MAHARSHI DAYANAD UNIVERSITY, ROHTAK In partial fulfillment of the requirements For the award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) (II SEMESTER) Submitted by: Name: Alok Kumar Upadhayay Regn. No. Roll.No. DAV INSTITUTE OF MANAGEMENT (ELC CODE: 080923013) NH-3, NIT, FARIDABAD. JULY 2011 DECLARATION I hereby declare that the Training Report conducted at Corporate Real Estate Solutions,Delhi. Under the guidance of (Ms. Aakrity) Submitted in Partial fulfillment of the requirements for the Degree of MASTER OF BUSINESS ADMINISTRATION (Industry Integrated) TO MAHARSHI DAYANAND UNIVERSITY, ROHTAK is my original work and the same has not been submitted for the award of any other Degree /diploma /fellowship or other similar titles or prizes. Place: Date: Alok Kumar Upadhayay Regn.No: Roll No. 2 ACKNOWLEDGEMENT First and foremost, I extend my deepest thanks to my mentor and guide Mr. Vishal Srivastava, Director – Corporate Real Estate Solutions, for giving me this opportunity to work in such a prestigious organization as well as for giving me a wonderful thesis. Without his constant guidance and feedback, I would have never been able to complete the training, I did. I am thankful to Ms. Aakrity, whose consistent support and cooperation showed the way towards the successful completion of the thesis...
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...Fin345 Session 2 Why Study Real Estate? Part 1 – Present Economic Considerations Demographics shaping your future and the future of real estate 2 Housekeeping Items 1. Seating Charts 2. Finance 336 and WA. State R.E. licensure • RE Fundamentals 60 hrs. (FIN 345=60 + FIN 346=15) • RE Practices 30 hours available on line from: • Rockwell ceshop proSchools and many more • Cost for proschools $199 • Exam prep. tests usually run around $99 • Pass broker exam • Fingerprinting 3 Monday’s Homework Assignment BOOK - Read Chapter 1 Question – Labor Stats. 1. Define U-3 and U-6 - One or two sentence hint: (http://www.bls.gov/lau/stalt.htm) 2. Find the U-3 and U-6 Percentages for Washington State 4 Today’s Topics The Economy – effects upon, and from, R.E. – Demographics (for whom) – Employment (why is this important to R.E.?) – Age cohorts (what effect could this have upon R.E.?) – The R.E. market changes -- but -- it never goes away – R.E. related investing -- knowing where to look and what to look for (for you and your clients) 5 Unemployment Figures A Closer Look 6 Employment Changes Over Time Animated Unemployment Map – Used with permission of LaToya Egwuekwe 7 Discussion of U-3 and U-6 figures • • • • • • • What figure do we hear about on the news? How does the BLS obtain these numbers? As students, are you in the labor force? What does U-3 represent? What does U-6 represent? Is U-6 all the unemployed...
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...Progress in Planning 64 (2005) 69–175 www.elsevier.com/locate/pplann Global city making in Singapore: a real estate perspective Sun Sheng Han Department of Real Estate, School of Design and Environment, National University of Singapore, 4 Architecture Drive, Singapore, Singapore 117566 CHAPTER 1 Introduction ‘Global city’ is a notion popularly cited among planning academics and practitioners in describing some strategic places in the world economy. Pioneer researchers in this area define global cities as basing points of capital in a world economy (Friedmann, 1986: 71); production centres of specialized information services such as financial services, media services, educational and health services, and centres of tourism (Hall, 1998: 24); and centres for servicing and financing international trade, investment and headquarters operations (Sassen, 2004: 171). Summarizing those perspectives and recognizing the influence of a new economy, which can be characterized as informational, global and networked (Castells, 2000: 27), global cities can be seen as the urban nodes where globalization materializes so that they are (1) highly concentrated command points in the organization of the world economy; (2) key locations for finance and specialized service firms; (3) sites of production of innovation; (4) markets for the products and innovations produced (Sassen, 2001: 3 and 4). Taylor (2004) has argued that these perspectives involve understanding just the attributes of cities and...
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...COMPETITION COMMISSION OF INDIA A REVIEW OF THE COMPETITION ISSUES IN THE REAL ESTATE SECTOR: AN ANALYSIS OF THE POSITION POST DLF CASE INTERNSHIP REPORT DECEMBER 2012 SUBMITTED BY: Kirti Dashora, IV Year, Gujarat National Law University (GNLU), Gandhinagar A REVIEW OF THE COMPETITION ISSUES IN THE REAL ESTATE SECTOR: AN ANALYSIS OF THE POSITION POST DLF CASE ACKNOWLEDGEMENTS The successful completion of this project could not have been completed without the valuable guidance and insights of many people. I would like to thank Mr. Yogender Chaudhary, Adviser (Law) for guiding me throughout my internship period. I would also like to thank Ms. Bhawna Gulati, Deputy Director (Law) for providing me helpful suggestions regarding the project. I also thank all the officers in the Commission who provided knowledge of the working of the Commission during the rotation exercise. The library staff also provided help whenever it was required. Page 2 A REVIEW OF THE COMPETITION ISSUES IN THE REAL ESTATE SECTOR: AN ANALYSIS OF THE POSITION POST DLF CASE TABLE OF CONTENTS ABSTRACT…………………………………………………………………………………5 OVERVIEW OF THE REAL ESTATE SECTOR IN INDIA…………………………..….6 Regulation of the Sector………………………………………………………..……7 The Real Estate (Regulation and Development) Bill, 2011………………………....7 ABUSE OF DOMINANCE IN THE REAL ESTATE SECTOR……………………..……9 Relevant Market…………………………………………………………………..…9 Assessment of dominance………………………………………………………..….9 Abuse of dominance……………………………………………………………...
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...Opportunity in Bangladesh Real Estate Sector http://blog.flatbari.com/2011/01/24/present-crisis-and-opportunity-in-bangladesh-real-estate-sector/ In the beginning of the year 2009, “the real estate sector will be the first growing sector and huge prospect in near future”, announced by the Govt. The Govt. was right because the sales of land and apartments grew by 20 percent last year, compared to the previous year, the industry insiders said, the realtors handed nearly 20,000 apartments in 2010. Along with industrialists, expatriate Bangladeshis, garment makers and a number of middle-income people invested in real estate last year because of a better economic situation. But in year 2011, the scenario may negative because the present Govt. decision and the increases the prices of raw materials included MS rod, the government is trying to make it mandatory for an apartment to meet 3 percent of its energy need from solar power. But Mr. Tanveerul Haque Probal, managing director of Building for Future Ltd. said that they(Developers) don’t have necessary infrastructure to set up solar panels for every apartment and it will be too expensive. And that is why, the scheduled hand over may delaying and property buyer also suffering and paying extra for rent. NRB Real Estate Buyer Community, the power of Bangladesh Economy. A Lot of foreign investor already invested on this sector and feeling uncomfortable. The property owner , Real Estate Developers, REHAB , FlatBari...
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...family clients. John and Judy are at a stage in their life where they are interested in diversifying each of their portfolios to include investments in real estate assets. Both John and Judy want to purchase a property that is large enough to attract a professional real estate management company, and attain a minimum leveraged return of 10% after tax. In addition, both parties feel that real estate will give them the benefits of diversification, protection from inflation, and some tax advantages. Cartwright has four properties he believes to be perfect for his client, however, he needs to narrow them down to just one property to each client. John DeRight is currently in retirement and he has all of this wealth in securities; primarily in common stock of a company that bought his start up company and has $750,000 in dividends paid on the stock as well as another $250,000 to invest in a property. Judy is a much younger investor and she is the sole stockholder of a small-sized chemical company. Judy has accumulated over $45 million to invest in and being at the peak of her career, she would like to invest in long-term possibilities. Although she has received numerous offers, Judy does not wish to be bought out by anyone and thus desires to diversify the investments she already owns. John and Just both felt that real estate would give them the benefits of diversification, protection from inflation, and some tax advantages. One of the four properties...
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...Hi.. This is _________ with _________., and Im calling about the home for sale on _____________________. Are you the owner? Great!! Did the home sell already or is it still for sale? Fantastic Im calling because I know of all the homes for sale….. and even about the ones that aren’t listed through Real Estate Agents. My name is Eddie by the way what’s yours? How many bedrooms is the home? How many Baths? On a scale from 1-10 how would you rate your home, 10 being the best . Fantastic So tell me…If I had a buyer that made a reasonable offer on your home, are you prepared to pay a commission? Ok great , how much is that ? So how much are you asking for the property? Do you consider that a discounted price because your selling it yourself? Or do you consider it fair market value? Great! It sounds like you have a great home…where you folks heading after you sell this home? How soon do you have to be there? Do you have to be there in 5 months? Or do you have to be sold at that time? So ____ I understand that you want to sell the home privately…And if the home doesn’t sell are you thinking of interviewing a powerful agent to sell your home? If there was an advantage to... using me now... to market your home would you consider it? Let’s just meet for 20 minutes or so... so I can show you how I’ve been able to help so many people... like yourself... I have time this afternoon or is tomorrow better for you? If they say no.. then schedule a...
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...CHAPTER 1 1.1 Introduction: Real estate is a term used to describe land, including all natural attributes as well as man-made improvements of a permanent nature placed on the land thereon such as buildings. A real estate agency is a firm whose work is to bring together a buyer and seller or even landlord and tenant. The property being exchanged in this case refers to apartments, houses, office space etc. Details availed to clients include size of the property, location, available services, cost and payment plans if any etc. Setim Real Estate Management is an agency located at Westland. It currently uses a manual data entry system as well as manual processing of data. This involves handling volumes of documents stored in different cabinets. The documents contain information from owners of houses of houses for sale or rent. The process begins with, all the information of the apartment property is put onto the database and when a suitable client comes to the firm he is provided with the details of the property. If the client likes the property, the agency marks the property as booked for rent and this is reflected in the database. 1.2 Problem statement In Setim Real Estate Agency the managers are responsible for the appraisal process in various operations such as recording new property details, new buyer details and also new seller details. The appraisal process is done manually by supervisors or mangers filling out forms on the work performance of certain employees whereby...
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...Chapter 4 we discussed how one can apply these models using real life and also synthetic (simulated) data. While realizing the limitations of the data used to apply these models, we discussed and developed an SDSS in Real Estate using GIS in Chapter 5. The purpose of this Chapter is to discuss the methods and techniques for updating the values of the parameters involved in the models from time to time using the data collected in SDSS. This is important since the real life is not static and ever changing and the future is highly uncertain and all the decisions that are made today are for the future. Accordingly, it is required that the decisions made today must be robust so as to be able to meet the challenges of the future turbulences to the extent possible as desired by the decision maker. 6.1. Parameters to Be Estimated There are various classes of factors that are relevant for real estate management and these have been classified in Chapter 5. The process by which all these factors affect the price of a particular real estate property can be very complex. Nevertheless one is required to forecast the price of a property from time to time. If one assumes that the actual price of a property ultimately reflects the combination of all these factors then one can consider prices of a property as the resultant time series process. As we have seen in Chapter 4, the hybrid model for forecasting price of a particular real estate property describes this process very well. However, one...
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...Office space demand to grow by 7% in 2014 NEW DELHI: Office space absorption is likely to rise 7 per cent this year to 29 million sq ft in India's 7 major cities as corporates look at expanding businesses, says global real estate consultant DTZ. Absorption was 27 million sq ft last year in the seven cities -- Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata. n its report on India office Demand and Trends, DTZ also projected that office rentals would remain stable in most markets in the first half of 2014 and rents would start rising from the second half. "Most corporates are expected to firm up plans for expansion in the next few months with the overall take-up forecast to grow in 2014, especially in the second half of the year," DTZ said in the report. "...economy is projected to grow at a broadly higher rate in 2014 than 2013. This in turn will eventually feed through to generate higher demand for the real estate sector. Consequently, office space take-up is projected to reach 28.9 million sq ft in 2014, a growth of 7 per cent y-oy," it added. Highlighting the findings of the survey-based report, DTZ India Research Head Rohit Kumar said that 41 per cent of the respondents said they would add office space. Demand would be led by the IT/ITeS sector (40 per cent) followed by manufacturing and BFSI sectors. Bangalore would continue to be the largest contributor in office space demand. There was general optimism amongst occupiers about increase in growth...
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...REAL ESTATE AND HOUSING ASSOCIATION OF BANGLADESH Bye- Laws on Code of Business Conduct REHAB is committed towards the enhancement and growth of the Real Estate Sector of Bangladesh. REHAB members recognise that for sustainable long term growth of this sector, they must conduct their business with a high degree of professionalism, fairness, integrity and ethics. In recognition of the member’s responsibility and obligation to Customers, Land Owners, fellow members, the public and the country, the Executive Committee of the Real Estate Housing Association of Bangladesh 2008-2009 exercising the power conferred upon it under clause VI. B of the Memorandum and Articles of Association of the Real Estate Housing Association of Bangladesh incorporated under the companies ACT, 1913 (new 1994) does hereby approve and adopt the Bye-Laws on Code of Business Conduct with the tenets set forth hereunder to be followed by its members. Violation of the Code of Business Conduct by any member of Rehab shall be considered to be prejudicial and detrimental to the interest of the Real Estate Sector and the association and the Executive Committee may issue a show cause to the offending member. Such notice shall specify the date, place and time of hearing so as to allow the member an opportunity to defend himself before the Executive committee. If the Executive Committee finds enough grounds to conclude that the said member has violated the Code of Business Conduct as outlined in this Bye-Laws, then...
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