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With 14 to 19 foot ceilings, the Lighthouse Lofts provides indoor parking and a wind-baffled, common-area roof deck with barbecue. In terms of interiors, the only feature that is standard is the hotwired equipment that is ready to roll people off Howard Street onto the World Wide Web.The building is wired with six category telephone-Ethernet lines to accommodate ISDN and other high speed lines for Internet users. They are also pre-wired for cable and they have 125+ amp electrical service.

Marketing these units may not be an issue, considering everything resembling a loft or a condo South of Market is selling.In the next two weeks, the Web site will offer virtual walkthroughs using a new technology that employs one picture panoramic photography. This will give the computer user 360 degree views of the spaces.

Technology is essential to every unit in this project, to our overall design, to the future inhabitants and everything that is happening south of Market,” said Smith.MapQuest, Denver, Colo., has created a special set of maps for the Inman News Convention Watch site to show visitors to San Francisco during the National Assn. of Realtors convention how to get around the City by the Bay. On the World Wide Web, maps are much more than a simple city guide for getting from A to Z. Instead, they are location-driven.

Intelligent agents with powerful nodes of information buried under zip codes and addresses that are interconnected on the World Wide Web and can instantly be retrieved. Inman News is providing routine coverage of the NAR convention throughout the show. The special NAR site is sponsored by Microsoft.It was a dark and stormy night, a disaster data watcher’s dream. It was the kind of night that could turn from just another thunder boomer along the coast to a major tropical storm with the potential for major property damage.

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Be the disaster earth, wind or fire, the FEMA site offers a lot of information relevant to real estate, such as where disasters are likely to happen; how individuals. The site, which contains about 5,000 pages of material, is updated frequently, with a total of 100 screens of new data added weekly, according to the agency.

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New immigrants right now represent the largest pool of prospective first-time home buyers, but it’s not always easy for them to get the information they need to purchase a home with most real estate listings available only in English.But with new software developed by Oakton, Va.-based Zonal Corp., realty agents can display and print real estate information in virtually any language, according to company president David Sullivan.

The company’s Multilingual Desktop (Z-MLDT) utilizes standard data exchange methodology set by the National Association of Realtors to present listings in Spanish and French. Bank Valuation Temperamental is The Z-MLDT service is only available to Realtors with authorized access to their local multiple listings service, though Zonal plans eventually to open access to international clients.

The Fort Worth HUD office was the first office in the country to accept bids electronically, and so far, more than 3,000 area brokers are participating in the program. The Internet looks like a perfect solution to get the bids in from brokers and also greatly reduce the paperwork for HUD offices.

If the pilot HUD project is successful in Texas, it will be expanded nationwide next year, The bidding system went online Oct. 1, allowing brokers to bid electronically or by paper 24 hours a day, seven days a week, until Nov.When all bids were to have been submitted on the Internet. About 70 percent of the bids received were received electronically, with average daily bids over the Internet totaling $1.2 million.

Tower Communications introduced electronic marketing to HUD field offices in 1993. We became aware of the problems with selling HUD properties, and proposed ways technology could help them. For the Texas project, Tower designed a secure system with 99 percent up-time and a backup system in two locations and 24-hour support.

The Internet site replaces the expensive, time-intense and cumbersome paper-filled processes currently in place, according to the company, which estimates that electronic bidding will save the Fort Worth office more than $960,000 annually. We anticipated some complaints, but so far we have had a very good response from brokers.

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REIPA president-elect Rufus Lusk III, who chairs the REIPA government relations committee, said that since the mortgage industry has turned to quick automated appraisals, efficient timely access to information is crucial. “Automated appraisals are only as good as the data on which they are based,” he said.

Across the country, says the Real Estate Information Providers Association (REIPA), state and local governments attempt to replace declining tax revenues by creating new fees for information formerly accessed at no charge.Ohio State professor Earl Epstein told attendees at the REIPA conference in San Francisco that these efforts directly contravene 200 years of U.S. He said the development surveying tools were furthered to achieve broad democratic ownership of land by enabling homesteading of clearly demarcated parcels.

The deed simply states that the property was sold for “$1 and other good and valuable consideration.” In other states assessment data is only sketchily available to the public. Lusk said assessors in Louisiana have comprehensive data on the physical characteristics of properties, but they don’t make that information available to the private sector.

Two International Finance Centre alone will provide an additional 1.439 million sq ft net of prime office space to the market by Q3. In addition there will also be the completion of Swire’s Cambridge House in Quarry Bay and 1 Peking Road in Tsimshatsui by the end of the year. Supply outside of the core office districts is also expected to rise significantly in 2003.

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This includes the Cyberport development in Pokfulam, Millennium City 3 in Kwun Tong and the Great Eagle/URA development in Mong Kok. These three developments will add 0.973 million sq ft net of grade A office supply to decentralized areas of Hong Kong. Continued weak demand combined with a sharp rise in office supply will exert further downward pressure on office rents in 2003.

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Rents continued to fall in Hong Kong’s prime business district as landlords revised rents downwards and increased rent-free periods as incentive to attract and maintain tenants within their portfolios. Rents in the fringe areas of Central also fell over the quarter to average HK$19.85 psf/month, however the decline was slightly lower at 4.5%.

Although there has been a slowdown in the number of companies giving back space or reducing their office space requirements, leasing activity remained weak over the quarter. Minimizing costs remained a priority for companies amidst an uncertain economic outlook. JP Morgan confirmed taking up space in 11 Chater Road late in 2001. However, companies that are not currently in Central are considering relocating there, given ample supply of space and falling office rents. There were no new buildings completed in the Central district over the quarter.

The vacancy rate averaged 11.9% in December, rising from 9.5% at the end of 2001. This was largely as a result of new supply from 11 Chater Road. Capital values remained flat in core Central over the past year and averaged HK$4,935 psf in December. Properties in fringe Central have also seen little change in prices over the past year, with prices averaging HK$3,613 in December. The yield for strata-title properties in both the core and fringe areas of Central were at 4.4% and 5.6% respectively at the end of the quarter.

This will be delivered in the form of Two International Finance Centre in the third quarter of 2003. Two IFC is the second phase of the office development atop the Central Airport Express Station. With such a large amount of new supply, vacancy is expected to jump from 11.9% in December to 18.6% by the end of 2003. As demand for office space is expected to remain weak, we forecast rents in core Central to drop 30% in 2003, with a slightly lower decline in fringe areas of 20% by yearned.

There was not much demand for grade A offices in the Wanchai/Causeway Bay district in Q4. Supply of available office space is abundant and as rents have fallen, the cost differential between districts has narrowed business Property Valuations In Melbourne.When comparing rents between Wanchai/Causeway Bay and buildings in the fringe area of Central, the difference is only about 12%.

Office rents for grade A premises in the Wanchai/Causeway Bay district averaged HK$17.51 psf/month in December, softening marginally over the month by 0.5%.Rents averaged 29.7% lower in Wanchai/Causeway Bay compared to core Central in December, compared to a rental differential of 38.4% at the end of 2001.

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There have been no new additions to the grade A office market since the completion of MLC Tower in 1999. The stock of grade A space will remain unchanged until the completion of Pacific Forum in 2004. The Swire development is located at 1 Queen’s Road East and will provide approximately 0.449 million sq ft net of space upon completion. Prime capital values in the Wanchai/Causeway Bay district averaged HK$3,142 psf in December, unchanged from the previous quarter.

Ferrier, one of four Cincinnatians who has filed a lawsuit against Ohio’s ban on concealed weapons, was pleased with the march. As to matter of value versus cost and quality, worth is not anticipated that would be identical to cost or expense, as cost implies use in certified terms, while cost on other hand is the whole that is paid by some individual for a specific thing. “It was a roaring success,” he said. “There were no problems, and we got our message across. I think the state legislature will get our point. how long does land valuations take?

However, prices fell 13.5% when compared on a year-on-year basis. Although investors have been more active in the Wanchai/Causeway Bay district than compared to Central, the majority of transactions have been for lower grade properties. The yield for prime strata-title buildings in the district averaged 6.0% in December.Also, tenants looking to relocate out of the district may become more apparent over the course of the year due to abundant supply and falling rents in other districts such as Central.

Rents for offices in Quarry Bay averaged HK$15.04 psf/month in December, which represents a decline of 4.9% over Q4. However the decline in rents in North Point was even greater over the quarter, falling 9.4% to average HK$12.66 psf/month in December. . Rents have held up slightly better in Quarry Bay as Swire, the major landlord in Quarry Bay, has been reluctant to lower rents for buildings in its portfolio.

There was little evidence of take-up of space in Quarry Bay. However, there was some leasing activity noted for some of the newer developments in North Point, such as 148 Electric Road, 625 King’s Road and CEF Lend Lease Plaza. Although take-up in these buildings has been slow, available space for lease is higher in North Point compared to Quarry Bay. No new grade A developments have been completed in Island East since the addition of 148 Electric Road in 2000.

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The Thai economy is seen to be heading from strength to strength over the past consecutive six quarters with the latest announced GDP figure of 5.1% for the third quarter. However future growth will be impeded by the recent ongoing geo-political risk and the continued slowdown in earnings growth from the world’s economic powerhouse, the United States since early this year. As property valuers A GDP growth rate of 4.0 to 4.5% for the whole year has been forecasted by the Government think tank, the office of the National Economic and Social Development Board.

As export growth is forecast to remain robust next year, trading companies and import/export related services are expected to perform well and this should have a positive impact on office occupancy rates in the district.

The vacancy rate in Island East increased from 6.3% at the end of 2001 to 7.8% currently. Supply in the area will rise in 2003 with the completion of Cambridge House in Quarry Bay. y. The latest addition to Swire’s Taikoo Place integrated office development will add a further 0.202 million sq ft net of grade A space to the Quarry Bay office market by the middle of the year.

Grade A office rents in Tsimshatsui averaged HK$16.28 psf/month in December, unchanged from the previous month. Rents fell in Tsimshatsui over Q4, similar to the trend witnessed across major office markets in Hong Kong.

However the decline was markedly less in Tsimshatsui, where rents softened slightly by 1.6% over Q4 compared to 11% for prime offices in core Central. As a result, there has been much less of the downsizing and rationalization of space for trading firms as compared to those companies in finance, banking, and the high-tech/IT industry.

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Over the last quarter of 2002, there was evidence of an increase in take-up from toy companies in Tsimshatsui in the lead up to the holiday season. . Unlike the other office districts on HK Island, take-up of office space in Tsimshatsui resulted in the vacancy rate falling to 13.5% in December, compared to 15.8% a year ago. Developed by Glorious Sun Enterprises, the building will include 0.213 million sq ft of net office space and a 0.20 million sq ft retail podium.

Strata-title office values in Tsimshatsui held steady over the quarter to average HK$2,752 psf in December. Similar to prime office values across Hong Kong, capital values have held relatively steady in Tsimshatsui over the past year.

Second,The Bangkok property market on the whole is moving steadily forward, spearheaded by the residential sector particularly in the landed property sub-sectors such as detached housing. Rentals and capital values for prime Grade A apartments in Bangkok are showing signs of decline from the last quarter but is expected to pick up in the next six months.

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With the continuing restructuring efforts in dealing with distressed properties by the Thai Asset Management Corporation (TAMC), low interest rate environment and the commencing of increasingly better quality development projects by solid developers, strong domestic consumption, steady upward momentum in the property sector is expected over the near future.

The Japanese economy seemed to be bottoming out with the EU economy expanding by 1.6% as compared to 0.6% in the first quarter. Thailand’s GDP for the 2nd quarter expanded by 5.1% as reported by the office of the National Economic and Social Development Board. The 1st half GDP figure stood at 4.5% as compared to the 2001 GDP figure of 1.8%.In addition, certain key economic indicators showed economic stability for example the subdued inflation rate, stable exchange rate and high official reserves and improved employment figures.

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NESDB is projecting a yearly growth rate of 4.0 to 4.5% and a 0.4% inflation rate for the year 2002. In relation to real estate, the construction sector expanded by a strong 18.6% led by government construction while private construction is spearheaded by the expansion of residential and commercial construction. The standalone destination.On a slightly negative front, the latest report highlighted some potential risk factors to the recovery in the Thai economy due to the contracting US economy, rising oil prices, geopolitical risk (conflict between the United States and Iraq), decrease in export prices and the uncertainties in the local stock market. Hence, the economic recovery is expected to decelerate somewhat in the second half of 2002 albeit not in an overly drastic fashion.

In the wake of the anniversary of September 11, the Bangkok property market for the 3rd Quarter improved marginally. Strength in the service industry particularly the insurance sector continue to underpin the office market’s take-up rate which increased to about 29,400 square meters from the 24,800 square meters achieved during the second quarter of 2002.

Also witnessed a total of six office building transactions for the first eight months of this year with the most recent one being the Grand Amarin Tower along New Petchburi Road. An interesting observation is that the majority of these buildings tend to be located on the fringe of the Bangkok Central Business District (CBD) and this may very well be the sector to watch for in the coming upswing cycle.The overhang of office space is subdued with no change to the current stock. Grade A office buildings’ vacancy rate continue to improve to 24.72% from 26.62% during the last quarter. Grade B and Grade C office buildings currently have vacancy rates of 41.42% and 43.34% respectively.

Our research indicated that asking rents have dropped slightly from the last quarter for a number of Grade A and Grade B office buildings with Grade C figures remaining at status quo i.e. approximately 255 baht per square meter. Asking rents for the newly completed Grade A buildings such as the CRC Tower at the All Seasons Place and the Empire Tower at Sathorn Road (each having over 40% vacancy levels) are in the region of 400 to 450 baht per square metre. In August this year, the Sri Muang Insurance Company took up about 3,300 square metres of prime space at Empire Tower at current market rental rates.

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With the firming of the rental rates over the last quarter, the resultant capital values for Grade A office buildings in the CBD also notched up higher from an average of 41,000-42,000 baht per square meter to about 42,000-43,000 baht per square meter for the third quarter. We expect the capital values will continue to improve as supply in Grade A CBD gradually being absorbed and rental rates on an upward bias.

Capital values for the Grade B dropped slightly to 22,500-23,000 from 23,000- 23,500 baht per square meter whilst Grade C office buildings remain stable at approximately 21,000-21,500 baht per square meter. This is compared to the expected yields for Grade B and C office buildings, which have been following a decreasing, trend at 4-6% and 5-6% respectively. The property depreciation can Last quarter’s figures for Grade B and C office buildings stood at 4.5-6% and 5- 6.5% respectively.Notwithstanding, in line with no new stream of supply coming onto the market, with aggressive rental pricing by landlords and a sustainable economic growth, we forecast the vacancy rates s to further improve for Grade A office buildings as tenants will tend to be quality-orientated and more willing to upgrade to better office buildings if the price is right.

In conclusion, the Bangkok CBD office segment appeared to be insulated from the impact of 9-11 with a number of Grade A office buildings registering slightly higher occupancy rates while rental values are expected to decelerate further. The upside will only re-commence once absorption equals the current oversupply situation. From our survey, 2-3 bedroom unit in the residential market is an ideal type of development, particularly in CBD and Sukhumvit areas. Whilst penthouses, with limited supply, are currently fully occupied with long-term contracts.

Most of the completed projects favourably concentrated on the top-end market. Siri Apartment, a renovated from 30- years old apartment by Sansiri, a gradeA serviced apartment on Wireless Road, came into the market during the 3Q 2002 and now fully occupied. It comprises 38 luxury units ranging from 200 to 570 square meters with the rental of 50,000 to over 200,000 baht per month.