This form of real estate sales report puts a person more often than old (the annuitant) who wants to sell his property while retaining the usufruct until the end of his life and another person, the buyer (débirentier) who agrees to pay an annuity. The main advantage for the seller is to receive income while occupying his house. And for the buyer's interest is to acquire a much less expensive (since it is held), provided that the annuitant does not live 122 years like Jeanne Calment. For this is the main characteristic of real life: the buyer has full ownership of the property from the deed signed by the notary and the rent they pay stops upon the death of the seller (on a life annuity) or spouse (rent two heads). The price paid will therefore largely depend on the life of the seller. A bet can win or lose .... There are two kinds of Life: the free and the occupied. We will not speak first, because it is fairly rare, but only the latter.
Tuesday, October 6, 2009
Real estate: the fall in activity slows
The activity of real estate professionals has been a "further deterioration" in relation to their situation one year earlier, according to a study by the National Union for real estate professionals (SNPI) on Monday. Their sales drop 12% during these three months a year. However, this decline is however much more limited than for the previous three months (-24%). In annual trend, the decline remains strong (-28%). This decline is largely due to the decrease in the number of transactions (-10%) during the months in question, "what constitutes a significant improvement compared to the 40% drop recorded six months earlier," welcomes the SNPI. Renting (2%) and administration of property (4%) recorded by cons growth of their turnover.
Sunday, October 4, 2009
The Exchange welcomes the real estate transaction Accor
Accor announced on Tuesday a major real estate transaction with the sale of the walls of 158 hotels in its portfolio F1 representing 12,300 rooms, for a total of 272 million euros. According to his statement, Accor "continue to manage the 158 hotels under the brand hotelF1 and keep the control on price and product innovation, essential to ensure the lasting success of this brand. Former Formule 1 hotels offer room prices very low, around 33 euros. This assignment walls "was accompanied by the concurrent signing of a commercial lease for a term of 12 years, renewable six times at the initiative of Accor, a variable rent without guaranteed minimum equal to 20% of turnover ' cases on average. On the basis of 2008 revenue, the variable rent would have been 21.3 million euros, "the statement said. The transaction will enable the group, which is currently considering a demerger of its two core businesses of hotels and services, reduce its adjusted net debt of almost 187 million euros in 2009 with 130 million euros cash. It should also have a positive impact on profit before tax of around 5 million euros. At the Paris Bourse, the stock has gained 3.26% to 39.18 euros on Tuesday.
Strasbourg: the lounge area of real estate
All industry professionals are meeting up Sunday to Wacken The lounge area of the estate began Friday and ends Sunday. It is for anyone with a real estate project and gathers at the Parc des expositions du Wacken all professionals in the sector: builders, estate agents, developers, banks, advisers, notaries.
The trends in the mortgage area as Cafpi
On the occasion of the last real estate exhibition in Paris Porte de Champerret credit broker Cafpi surveyed its regional offices to determine the trends of mortgage market locally. 5 ideas have been screened: "production credits tumble," "Real estate is a coherent market," Banks stopped lending, "There are more customers borrowers" and " Confidence will not return before long. " In the North, poor economic conditions force individuals to delay their building projects when they can. "They prefer to work, renovating the house or adding a room rather than change," said Carine Derieux, head of the North. Culturally, this region stands out on several items. The appropriations are always more expensive on average by 0.2 points. In addition, "it is a trait of personality in the North than being rooted in a tendency to tough bargaining, totally disconnected from any commercial logic," said Carine Derieux. Northerners also envisage that very rarely during the construction of an initial acquisition and "most of them did come in second or third time, when children are born." The first-time buyers represent one third of the clients of the broker: "Decisions are often taking family, parents tend to discourage young borrowers to engage in the adventure."
The western region is it, "carried by the primary assumption, in the words of Dominique Durand-Perdriel, Leiter. "In the quadrangle Nantes / Saint-Nazaire / Vannes / Rennes, first-time buyers account for 95% of clients wishing to acquire or build a house," said the official. Moreover, the important part files in 2009 under the Scellier device is significant, amounting to 10% of mortgage applications processed. Price later, "the western region has not experienced a decline in property prices as significant elsewhere. We are just beginning to feel it. " To find "a high level of production would require a further fall in property prices of around 10%, with an economic recovery that jams up the spiral of layoffs."
In Normandy, "first-time buyers accounted for 50% of customers with a loan CAFPI main income of around 121 000 euros," explains the head of the region Sylvain Lefevre. For volumes, "the rate cut has generated a momentum regarding the sale of flats located in old city center. He added that the housing crisis has brought back to the basics of real estate, "a principal residence built here 20 or 30 years with materials of low energy performance and located 20 km from an urban center can no longer have the same value that a property located in urban areas with good energy performance level. As for banks, broker notes that they "have returned to the agenda the prudential rules for credit risk. But they have not changed the fundamentals that are bank debt ratio, continuity of employment and the buyers' left to live, what keeps a household to meet current expenses after payment of all outstanding loans. However, the rate cut helped "improve the level of debt, and help households achieve their real estate projects.
In the South East region is mostly the old houses in that document. 90% of mortgage applications relate to the main residence and "66% of borrowers are first time buyers," says Gilles Rolet in charge of the region. Some areas suffer as Lorraine is relatively affected by the crisis. Conversely, Nancy, protected by its large population of staff, is less affected than elsewhere. However, Cafpi having recently moved into this region, lack of historical data as collected. The broker noted however that "aid to the attainment have risen sharply. Market prices, a decline - 20%, and lower rates represent a significant gain power purchase real estate. 120 to 150 euros of purchasing power on a monthly payment can regain access customers who had lost the ability to borrow. " In eastern North area including Alsace and Moselle, three cities recorded a significant activity: Strasbourg, Metz and Thionville. "The average loan is Cafpi 141 000", explains Christian Coin. In detail, the average loan amount to 132 000 in Metz, 143 000 in Strasbourg and 154 000 in Thionville. On the variation of the contract, the manager observes that despite a declining market, "a new clientele in search not only the lowest but also advice and security" consults. 57% of them have an annual income of less than 38 K €. In the income bracket above 50 K €, "surprisingly, the percentage of borrowers is higher in Thionville than anywhere else." Distrust of banks is strong: "90% of borrowers are willing to switch banks as a corollary of homeownership."
Many first-time buyers to the Central East region consisting of 60% among its clientele, with an average loan of around 150 000. This young population under 35 years, buys mostly in the former. "Lyon provides the bulk of our production, far ahead of Grenoble and Saint-Etienne," explains Jean Gignoux, head of the region. He admits, moreover, that the banks, although they remain very lenders on individual clients, "are now more demanding on the profitability of a credit transaction. Lyon remains stable thanks to a base of medium and very upscale. "The more we move away from the Lyon area, the market becomes more tense. Cities such as Villefranche, Vienna and Bourgoin experiencing strong price decline and their real estate activity. Saint Etienne is an unusual and difficult market, with low prices and customer revenue less important than in other departments in the region. Grenoble remains strong, with high prices and good incomes. In the region PACA West, there is "neither more nor less than before refusal" of funds by banks said Thierry Bailly, head region. "We are not brokers rate as others, we are dealers by name and do the financing package, which allows us to differentiate" into explaining the unchanged number of denied credit. Thierry Bailly also noted that "the average intakes are increasing, which indicates a crisis. In Avignon, for example, 75% of transactions involve primary residences, mostly single-family homes, with an average loan of 152 000 and an average debt of 23 years.
To the east of the region PACA, the "production volumes are down compared to those of 2008, however incommensurate with the fall in volumes of national funding," said Eric Brame, head of the sector. He added: "Provence Alpes Côte d'Azur, demand remains relatively strong despite prices that have fallen." On the issue of obtaining the mortgage, the region has found that they no longer depend on "only the purchase price of capital, and debt ratio, banks also arbitrate according to the residual and left to live, the debt ratio is so much better managed and controlled mainly. A household with an income equal to two minimum wage can not exceed 25% debt, while a childless couple with 4 000 of monthly income can go into debt up to 3 5%, with a remainder to live comfortably. The building project type? An old house with work for an average price of 300 000.
"We become the broker of our family of customers! "Says Laurent Desma, Cafpi responsible for the South West Region. A "showdown" is underway in the region between sellers and buyers, some want to force prices down and others expect a recovery and maintain their offerings. Another notable phenomenon, the population of inner-city areas for the benefit of potential land. "Buyers do not hesitate to move away from inner cities to settle in areas where land is still a large potential. Near Bordeaux and the Basque coast, there is still land available if we agree to s'excentrer. This is the case around Saint Jean de Luz, where many formerly agricultural villages became suburbs nearby. The triangle BAB, Biarritz Anglet Bayonne, is a micro urban market that still retains its strong development potential. The south of the Landes, Hossegor, Capbreton, Tyrosse, is looking for his second home and vacation rental investment. Furthermore, agencies Cafpi did not notice any change in the attitude of banks that continue to give credit as before. "However, we see an evolution on the bridge loans, with the granting of additional time or the introduction of a drop in weight, grade Laurent Desm.
The western region is it, "carried by the primary assumption, in the words of Dominique Durand-Perdriel, Leiter. "In the quadrangle Nantes / Saint-Nazaire / Vannes / Rennes, first-time buyers account for 95% of clients wishing to acquire or build a house," said the official. Moreover, the important part files in 2009 under the Scellier device is significant, amounting to 10% of mortgage applications processed. Price later, "the western region has not experienced a decline in property prices as significant elsewhere. We are just beginning to feel it. " To find "a high level of production would require a further fall in property prices of around 10%, with an economic recovery that jams up the spiral of layoffs."
In Normandy, "first-time buyers accounted for 50% of customers with a loan CAFPI main income of around 121 000 euros," explains the head of the region Sylvain Lefevre. For volumes, "the rate cut has generated a momentum regarding the sale of flats located in old city center. He added that the housing crisis has brought back to the basics of real estate, "a principal residence built here 20 or 30 years with materials of low energy performance and located 20 km from an urban center can no longer have the same value that a property located in urban areas with good energy performance level. As for banks, broker notes that they "have returned to the agenda the prudential rules for credit risk. But they have not changed the fundamentals that are bank debt ratio, continuity of employment and the buyers' left to live, what keeps a household to meet current expenses after payment of all outstanding loans. However, the rate cut helped "improve the level of debt, and help households achieve their real estate projects.
In the South East region is mostly the old houses in that document. 90% of mortgage applications relate to the main residence and "66% of borrowers are first time buyers," says Gilles Rolet in charge of the region. Some areas suffer as Lorraine is relatively affected by the crisis. Conversely, Nancy, protected by its large population of staff, is less affected than elsewhere. However, Cafpi having recently moved into this region, lack of historical data as collected. The broker noted however that "aid to the attainment have risen sharply. Market prices, a decline - 20%, and lower rates represent a significant gain power purchase real estate. 120 to 150 euros of purchasing power on a monthly payment can regain access customers who had lost the ability to borrow. " In eastern North area including Alsace and Moselle, three cities recorded a significant activity: Strasbourg, Metz and Thionville. "The average loan is Cafpi 141 000", explains Christian Coin. In detail, the average loan amount to 132 000 in Metz, 143 000 in Strasbourg and 154 000 in Thionville. On the variation of the contract, the manager observes that despite a declining market, "a new clientele in search not only the lowest but also advice and security" consults. 57% of them have an annual income of less than 38 K €. In the income bracket above 50 K €, "surprisingly, the percentage of borrowers is higher in Thionville than anywhere else." Distrust of banks is strong: "90% of borrowers are willing to switch banks as a corollary of homeownership."
Many first-time buyers to the Central East region consisting of 60% among its clientele, with an average loan of around 150 000. This young population under 35 years, buys mostly in the former. "Lyon provides the bulk of our production, far ahead of Grenoble and Saint-Etienne," explains Jean Gignoux, head of the region. He admits, moreover, that the banks, although they remain very lenders on individual clients, "are now more demanding on the profitability of a credit transaction. Lyon remains stable thanks to a base of medium and very upscale. "The more we move away from the Lyon area, the market becomes more tense. Cities such as Villefranche, Vienna and Bourgoin experiencing strong price decline and their real estate activity. Saint Etienne is an unusual and difficult market, with low prices and customer revenue less important than in other departments in the region. Grenoble remains strong, with high prices and good incomes. In the region PACA West, there is "neither more nor less than before refusal" of funds by banks said Thierry Bailly, head region. "We are not brokers rate as others, we are dealers by name and do the financing package, which allows us to differentiate" into explaining the unchanged number of denied credit. Thierry Bailly also noted that "the average intakes are increasing, which indicates a crisis. In Avignon, for example, 75% of transactions involve primary residences, mostly single-family homes, with an average loan of 152 000 and an average debt of 23 years.
To the east of the region PACA, the "production volumes are down compared to those of 2008, however incommensurate with the fall in volumes of national funding," said Eric Brame, head of the sector. He added: "Provence Alpes Côte d'Azur, demand remains relatively strong despite prices that have fallen." On the issue of obtaining the mortgage, the region has found that they no longer depend on "only the purchase price of capital, and debt ratio, banks also arbitrate according to the residual and left to live, the debt ratio is so much better managed and controlled mainly. A household with an income equal to two minimum wage can not exceed 25% debt, while a childless couple with 4 000 of monthly income can go into debt up to 3 5%, with a remainder to live comfortably. The building project type? An old house with work for an average price of 300 000.
"We become the broker of our family of customers! "Says Laurent Desma, Cafpi responsible for the South West Region. A "showdown" is underway in the region between sellers and buyers, some want to force prices down and others expect a recovery and maintain their offerings. Another notable phenomenon, the population of inner-city areas for the benefit of potential land. "Buyers do not hesitate to move away from inner cities to settle in areas where land is still a large potential. Near Bordeaux and the Basque coast, there is still land available if we agree to s'excentrer. This is the case around Saint Jean de Luz, where many formerly agricultural villages became suburbs nearby. The triangle BAB, Biarritz Anglet Bayonne, is a micro urban market that still retains its strong development potential. The south of the Landes, Hossegor, Capbreton, Tyrosse, is looking for his second home and vacation rental investment. Furthermore, agencies Cafpi did not notice any change in the attitude of banks that continue to give credit as before. "However, we see an evolution on the bridge loans, with the granting of additional time or the introduction of a drop in weight, grade Laurent Desm.
New developments of strategic real estate 3 375 000 $ and closed a private placement in the form of convertible debentures of $ 1 400 000
Management company and real estate developments, announced today Closing a funding of 1 400 000 $ in the form of convertible debentures, reaching 65% of rentals in the building complex Lebourgneuf development and its intention to complete, subject to the following conditions complained: i) l acquisition of a commercial building at a cost of $ 2 537 500 and ii) the acquisition of land ownership commercial worth $ 837 000.
Debentures
The management of the Company is pleased to announce the completion of financing in the form of debentures announced last September 23. The convertible debentures with a term of 24 months offer an interest rate of 9% per annum to the holder, payable quarterly. The capital of such convertible debentures were offered at a price of $ 0.50 per share if converted in the 1st year of issue, or at a price of $ 0.55 per share if converted in the second year. Of the $ 1 400 000 $ $ 250 $ 000 remains to be cashed by the Company following the confirmation of it from a subscriber information related to its building in developing complex Lebourgneuf.
Purpose of rental achieved
Complex Lebourgneuf, developing the building is already leased over 65% as of September 30, 2009. This building of 235 000 square feet has welcomed its first tenants at the end of June 2009 and income from leases signed now sufficient to cover the debt service related to that property. "Demand in the City of Quebec for quality commercial premises and is supported Cagim demonstrates clearly be a leader in the Capital Region of the province," said Mr. Guy Boutin, CEO and Project Manager.
Commercial building
Management announced it has agreed on key conditions in order to acquire a commercial building located in the City of Saint-Augustin-de-Desmaures, Quebec, for a total of 2 537 500 $. This building houses a single tenant to AAA for a term covering the next 15 years. The purchase price represents a capitalization rate of 10%.
The proposed acquisition price will be payable in cash, the capital outlay of $ 100 000 and obtain mortgage financing of approximately 1 700 000 $, the balance will be payable in shares of the Company by the Issue of 1 400 000 shares at a price of $ 0.50 each, for a consideration of $ 700 000. This acquisition transaction involving a related party of the Company is subject to certain conditions including due diligence and successfully complete, obtaining an independent report conclusive evaluation, approval of the TSX and TSX any other regulatory authority requirements and finally, the finalization of a definitive purchase agreement. The management of the Company intends to complete this transaction during the 4th quarter.
Commercial Plot
The management of the Company also announced today to be in advanced talks to acquire a commercial land located in the Lebourgneuf Quebec City. The amount of the acquisition, subject to tax adjustments, is set at $ 837 000 and will be payable in cash. This transaction is part of strategic expansion plan of the Company and is subject to certain conditions including due diligence complete. This land is adjacent to the Complexe Lebourgneuf that the company has condominiums, and whose construction is almost complete. The President of the Company, Mr. Stéphane Beshro this transaction qualifies as "Complex Lebourgneuf is a tour de force and will become a success, including its high occupancy rate at this stage of the project. The acquisition of commercial land under by the tender offer is part of a second commercial project, relatively speaking, will be similar to the complex project. " The management of the Company feels confident that the expertise of the management team of the Company will contribute once more to the implementation of this future project. Cagim is listed on the TSX Venture Exchange and operates business management, development and acquisition. The Company operates its business through its subsidiaries ADG Immobilier inc. Complex and Lebourgneuf inc.
The TSX Venture Exchange and its service provider rules (within the meaning assigned to that term in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this release.
Debentures
The management of the Company is pleased to announce the completion of financing in the form of debentures announced last September 23. The convertible debentures with a term of 24 months offer an interest rate of 9% per annum to the holder, payable quarterly. The capital of such convertible debentures were offered at a price of $ 0.50 per share if converted in the 1st year of issue, or at a price of $ 0.55 per share if converted in the second year. Of the $ 1 400 000 $ $ 250 $ 000 remains to be cashed by the Company following the confirmation of it from a subscriber information related to its building in developing complex Lebourgneuf.
Purpose of rental achieved
Complex Lebourgneuf, developing the building is already leased over 65% as of September 30, 2009. This building of 235 000 square feet has welcomed its first tenants at the end of June 2009 and income from leases signed now sufficient to cover the debt service related to that property. "Demand in the City of Quebec for quality commercial premises and is supported Cagim demonstrates clearly be a leader in the Capital Region of the province," said Mr. Guy Boutin, CEO and Project Manager.
Commercial building
Management announced it has agreed on key conditions in order to acquire a commercial building located in the City of Saint-Augustin-de-Desmaures, Quebec, for a total of 2 537 500 $. This building houses a single tenant to AAA for a term covering the next 15 years. The purchase price represents a capitalization rate of 10%.
The proposed acquisition price will be payable in cash, the capital outlay of $ 100 000 and obtain mortgage financing of approximately 1 700 000 $, the balance will be payable in shares of the Company by the Issue of 1 400 000 shares at a price of $ 0.50 each, for a consideration of $ 700 000. This acquisition transaction involving a related party of the Company is subject to certain conditions including due diligence and successfully complete, obtaining an independent report conclusive evaluation, approval of the TSX and TSX any other regulatory authority requirements and finally, the finalization of a definitive purchase agreement. The management of the Company intends to complete this transaction during the 4th quarter.
Commercial Plot
The management of the Company also announced today to be in advanced talks to acquire a commercial land located in the Lebourgneuf Quebec City. The amount of the acquisition, subject to tax adjustments, is set at $ 837 000 and will be payable in cash. This transaction is part of strategic expansion plan of the Company and is subject to certain conditions including due diligence complete. This land is adjacent to the Complexe Lebourgneuf that the company has condominiums, and whose construction is almost complete. The President of the Company, Mr. Stéphane Beshro this transaction qualifies as "Complex Lebourgneuf is a tour de force and will become a success, including its high occupancy rate at this stage of the project. The acquisition of commercial land under by the tender offer is part of a second commercial project, relatively speaking, will be similar to the complex project. " The management of the Company feels confident that the expertise of the management team of the Company will contribute once more to the implementation of this future project. Cagim is listed on the TSX Venture Exchange and operates business management, development and acquisition. The Company operates its business through its subsidiaries ADG Immobilier inc. Complex and Lebourgneuf inc.
The TSX Venture Exchange and its service provider rules (within the meaning assigned to that term in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this release.
Real Estate: declining prices of the former continues
According to the monthly barometer of the JDD, the square meter continues to decline in September in most big cities at a rate of 4% per year. The price recovery is not yet valid.
House prices fell back in May VETERANS IN FRANCE "The rise in house prices remains a chimera. According to the monthly barometer made by the JDD (Journal du Dimanche), and seloger.com laVieImmo.com, price per square foot in the former continued to decline in September to an annualized rate of 4% per year. This price is well below 3,000 euros per square meter in cities like Lyon, Lille and Toulouse. Marseille should also join the list this month. In Paris, the square meter is about 7300 euros but the decline was of similar magnitude.
According to the analysis of daily sales would suffer a sense of expectancy. Buyers expect a further decline while the sellers refuse to lower their bids. Side location, the trend is the same, especially in smaller cities and suburbs. According to the barometer, rents fell by 2% in cities such as Cherbourg or Rochelle. In Marseilles and Toulouse, these declines are also gradually. For now, other cities are not affected.
House prices fell back in May VETERANS IN FRANCE "The rise in house prices remains a chimera. According to the monthly barometer made by the JDD (Journal du Dimanche), and seloger.com laVieImmo.com, price per square foot in the former continued to decline in September to an annualized rate of 4% per year. This price is well below 3,000 euros per square meter in cities like Lyon, Lille and Toulouse. Marseille should also join the list this month. In Paris, the square meter is about 7300 euros but the decline was of similar magnitude.
According to the analysis of daily sales would suffer a sense of expectancy. Buyers expect a further decline while the sellers refuse to lower their bids. Side location, the trend is the same, especially in smaller cities and suburbs. According to the barometer, rents fell by 2% in cities such as Cherbourg or Rochelle. In Marseilles and Toulouse, these declines are also gradually. For now, other cities are not affected.
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