Visit to Evian

by qinfovio 10. June 2014 15:17
Good afternoon,
 
I want to welcome you back to our Tuesday Talk. We have a large list of REO and NOD for you to check it out.
 
REO and 3 Party should be then coming any time soon in the market.
 
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You need a trip close to a month to get a good feeling about a country atmosphere, as much about their economics, unemployment, political and social issues.
 
So I mostly visited the little of Evian's area (French Alps), seating on the lake of Leman (Geneva's lake). This specific area and all areas bordering the Swiss border are doing very well, economically speaking, since most peoples work in Switzerland and are called "Frontalier". I will compare the same benefit that it would be to work in the US and living in Mexico.
 
Real estate is booming. The state of mind over there is a couple get into their first real estate purchase (condo/apartment) in their mid 25 with a 20 years mortgage; then they moved up into a single family home with their first pay off property/equity with a 10 years loan. By the time they reach 55 years old, their property is paid off. From 55 until retirement and usually around 62, they put more money into their retirement.
 
Banks over there don't have an appraisal. Buyers with their agent will get a rough estimate of the property value and lenders will qualify buyers base on their income, as simple it is.
 
I think that more and more, speaking being in the United States, it should be the perfect Home Owners Dream to get their real estate
payoff before retirement. Calling to be a homeowner, an "American Dream" is only a dream if you have a plan to stick with.
 
As France is well known for all their social stuffs, including health care services, but one thing that you need to be aware, is in case you get a cancer, and any major life threatening disease, you will not get any other loans for the remaining of your life.
 
As here, it will be consider a discrimination with the equal housing opportunity. It is the same with your age, where your loan will be made base on the remaining working years.
 
We only have 20 years mortgage in France and less.
But just across the border, in Switzerland, it is the opposite with mortgage of 50 years that are assumable by the children.
 
New laws that came up is that you cannot drive and smoke at the same any more. But just in case that you don't know, this law has
been implemented in the U.S already for many years.
 
What I get from comparing both County, France and US:
Over there, citizen have no debt and I think that it is a good plan. But both Countries with their government have huge debt mostly due to their social programs of over spending with their politicians promising what ever it will take them to be elected.
 
As now, with our latest European election, voters did not go left or right but further right.
 
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As, I was catching up with my reading and I want to bring you the attachment called "The Most Important of Any Investment".
 
It was an interview with S&A Editor Chief Brian Hunt done by Steve Sjuggerud's.
 
We are constantly running into the similar issue when we are looking at listing a home for sale with any owners. In this article, they show what buyers should look for. We and all want the best bargain, we look at comparable sales in a specific area.
 
With all the multi media and hundreds of website that provide us a fair market value, buyers are very well inform, educated and they see
when a property is price right. Pricing a home to sell within 30 days will sell for more than any over price property.
 
Thank you and I will see you next week.
 
Christian Viollaz
License 1318338
9 Buyer Traps and How to Avoid Them
 
 
P.S We will cover next an overview of our real estate trend in all different communities.

06.10.14 NOD.pdf (24.78 kb)

06.10.14 REO 3 Party.pdf (14.57 kb)

The Most Important of Any Investment.pdf (159.27 kb)

Tags:

Economics | Real Estate | Real Estate Economics

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