Matrix Blog

International

How Real Estate Brokers Can Negotiate With Foreign Buyers, Illustrated

March 29, 2014 | 12:33 pm |

Saw this visual over at Business Insider that shows how communication patterns differ around the world – from Richard D. Lewis’s book “When Cultures Collide“.

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[Source: Crossculture.com Click to expand]

I haven’t read the Lewis book yet but I’ve always been fascinated by the topic of communication and linguistics – another book got me interested in the topic: That’s Not What I Meant!: How Conversational Style Makes or Breaks Your Relations with Others by Deborah Tannen circa 1992. I’ve read it three times.

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New Record of Foreign-owned Assets in the United States

March 27, 2014 | 4:06 pm | wsjlogo |

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According to the WSJ Real Time Economics Blog there are the record investment gains. This is good news/bad news…and:

has worried some economists, because it makes the U.S. more vulnerable to major shifts in the global economy. But it also could show strengthening confidence in the American economy.

These gains are largely due to the rising US stock prices rather than more investment. However in the housing sector, I do think rising property values are attracting even more new capital for investment – whether for new development or unit purchases. We can see this in markets like New York City and Miami. Foreign investors seem to be chasing safety and a long term equity play.

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[Knight Frank] Ukraine Was Weakest Property Market Yet Global HPI Jumps To Record

March 19, 2014 | 2:00 am |

kf3-14ghpi

Knight Frank just released their Global House Price Index which showed record results:

Growth of 8.4% in 2013 represented the highest annual rate of growth since our index started in 1995.

Dubai lead the way with a 34.8% jump in prices Y0Y while Ukraine rounded out the bottom in 56th place with a 25.9% decline over the same period. The US was ranked 9th overall.

The full report is now available and chock full of great info and insight.

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Real Estate Jargon Watch: Gazumping

March 17, 2014 | 8:00 am |

Every so often I hear this particular word used in real estate and I cringe. It is both awful and heartbreaking because it instills fear in the hearts of buyers in a market devoid of adequate listing inventory but yet is equally annoying.

Gazumping:

when a seller (especially of property) accepts an oral offer of the asking price from one potential buyer, but then accepts a higher offer from someone else. It can also refer to the seller raising the asking price at the last minute, after previously orally agreeing to a lower one. In either case, the original buyer is left in the lurch, and either has to offer a higher price or lose the purchase.

It’s widely used in the UK and Australia but not that popular in the US. There is “Ghost Gazumping” in the UK and “anti-gazumping” laws in Australia.

However given NYC’s global connections, I hear it used more than I’d care to and find it absolutely annoying. We need a replacement word or phrase as soon as possible (aside from “the seller screwed us despite accepting our offer and went with a higher one.”)

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Safety First: Explaining Flood of Asian Investors Into Western Real Estate

March 15, 2014 | 12:50 pm | kflogo |

This is a good interview with Alistair Elliott, senior partner and chairman at Knight Frank by Josh Noble of FT about the buying binge of Asian investors in many major global cities like London, Vancouver, Sydney and New York City…”mature financial cities.”

Institutional investors come first, then developers and then private investors. The phenomenon is at it’s very early stages.

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2014 Knight Frank Wealth Report Goes Interstellar

March 6, 2014 | 1:00 am | kflogo |

PIRI2014
Source: Knight Frank

Knight Frank just released their 2014 Wealth Report which takes a look at the investment trends for ultra high net worth individuals (aka UHNWI’s defined as $30M+). It’s chock full of investment insights, including real estate. We provided some data/insight to the report (translation: a very tiny portion). Yesterday I mentioned their crazy new Asteroid Index yesterday.

Here are a few topics covered in the report:

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Source: Knight Frank [click to expand]

kfcityrank
Source: Knight Frank

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Impact of Lehman Collapse on Housing Prices in Europe

September 13, 2013 | 3:52 pm | kflogo |


Source: Knight Frank [click chart to expand]

This chart could also be called “Why International Demand for US housing is Elevated” since many European investors are looking for safe places to park their money.

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[Country Life article] Once upon a time in the American market

September 10, 2013 | 9:11 pm | nytlogo |

I wrote a brief article for Country Life Magazine – a weekly glossy magazine based in the UK but distributed globally. Country Life is a beautiful publication chock full of luxury housing imagery. This edition (9/4/2013) had a US property focus to which I gave an brief overview of the US housing market over the past decade.

Note: I agreed to allow the editors “Briticise” my writing to match their audience but I had final approval of the content. So if you notice anything, ie Mortgage criteria” v. “Mortgage underwriting guidelines”, that’s why. ;)

Once upon a time in the American market:
Jonathan Miller retraces the history of the American property crash and examines what is driving fresh price rises [Read the article]

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Interview on CCTV America, State of Fannie Mae

April 4, 2013 | 7:25 am | bloomberglogo | Videos |


[click to play - starts at 13:50]

I spoke with Michelle Makori on the state of Fannie Mae (who just reported a record profit). CCTV America is part of China Central Television (CCTV), the largest television broadcaster in China.

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The 4Q12 Miami Housing Market Translated: Economics, Spanish & Portuguese

February 2, 2013 | 10:20 pm | delogo | Reports |

South Florida-based Douglas Elliman has translated the 4Q 2012 Elliman Report: Miami Sales that I prepare (I only took high school French) to Spanish and Portuguese, reflective of the significant demand from South Americans.

Elliman Report: Miami Sales (Spanish) | Elliman Report: Miami Sales (Portuguese)

[click to open reports]


Elliman Report: Miami Sales (Spanish) 4Q 2012 [Douglas Elliman]
Elliman Report: Miami Sales (Portuguese) 4Q 2012 [Douglas Elliman]
Elliman Report: Miami Sales (English) 4Q 2012 [Douglas Elliman]