Amazing Property

If you haven’t refinanced in a while – or ever – you could stumble upon a nice reserve of cash to make up for holiday spending.  Doesn’t everyone love saving a few dollars on bargains around the end of year? With a seemingly never-ending Christmas shopping list, it pays to scrummage around to find every little saving. But have you thought about the savings to be had by resetting your biggest financial undertaking: your home loan? Here’s how you could rethink your mortgage to gain a bit of spare cash for Christmas. Refinance to save In 2019, Aussies spent on average nearly $1000 per household just for Christmas, Finder reported. This is money that could potentially be recouped through refinancing your loan. If you’ve had your current home loan for a number of years, you may be able to apply for a home loan at another institution with a better interest rate or new features and add-ons such as flexible repayments, redraw facilities and loa...

Mortgage operators have appealed for regulatory-induced fiscal and monetary measures that would stimulate the sub-sector towards sustainable development. They also implored the Central Bank of Nigeria (CBN) to fast-track implementation of the Mortgage Interest Draw-Back Programme (MIDP), together with other policy measures that would moderate the cost of funds to single digit, on a consistent and sustainable basis. The operators, under the aegis of the Mortgage Banking Association of Nigeria (MBAN), made the call in a seven-page communiqué after its Chief Executive Officers (CEOs) retreat in Lagos. The association plans to engage the CBN on specific modalities required to facilitate policy implementation, monitoring and impact assessment. The Annual Retreat for CEOs was held via Zoom and physically, with participants drawn from the mortgage banks, mortgage brokerage companies, CBN, Nigeria Deposit Insurance Corporation (NDIC), Federal Mortgage Bank of Nigeria (FMBN), Nigeria Mortga...

Benson-Awoyinka Towards safeguarding the interests of real estate stakeholders and conforming with international best practices, stakeholders have agreed on the need to harmonise and sanitise the sector. The stakeholders met at a two-day Lagos Real Estate Market Place Conference and Exhibitions, the first of its kind organised by the state’s Real Estate Regulatory Authority (LASRERA). Key speakers at the panel sessions included Chief Executive Officer (CEO), Chapel Hill Denham, Bolaji Balogun; Assistant Vice President Retail Mortgage Underwriting, Mr. Kunle Faleti; Femi Ademola of Cordros Capital; Babatunde Ajayi of United Capital Plc;  Kayode Falasinu of AVA Capital; Sammy Chidoka of Kairos Capital; Tokubo Ajayi of United Capital Trustee; Mrs Funmi Ekundayo of STL Trustees; and Adekunle Awojobi of FBN Quest Trustees. Others are expert from Morocco, Ms Tagma Mounla; CEO, Oct5 Limited, Jide Odusola; CEO Odo Ogun Castles Estate Limited, Buddy King; PWAN Grou...

The COVID-19 outbreak is prompting more American families to move aging relatives into their homes, fueling the growing interest in multigenerational houses. Occupancy in nursing homes in the U.S. has fallen by 15% since the end of 2019, according to an analysis by The Wall Street Journal . The number of COVID-19-related deaths linked to long-term elder care institutions in the U.S., currently more than 115,000, accounts for some of the decrease. A resulting decline in admissions accounts for much of the rest. Fearing infection and isolation in nursing homes, some Americans are bringing their loved ones into their own homes. Home buyers are showing an increasing desire to bring more family members under one roof. Buyers purchasing after the start of the pandemic in the U.S. were more likely to purchase multigenerational homes—15% versus the 11% who purchased prior to April 2020, according to the National Association of REALTORS®’ newly released “2020 Pro...

Having the right real estate agent can make the difference between selling your home for a great price or just making your reserve. Research and local knowledge are crucial to getting the best agent for your home. Discover how to find the best agent, how to market your home for sale and how much your house is worth. How to choose an agent One of the most important considerations when deciding to sell your property is who is going to sell it for you. First up, do your research. Look for an agent with a history of strong results in your suburb. Metrics like average days on market and auction clearance rates are vital, as they give a clear insight into how good an agent is. Also, go local. Finding an agent with a deep understanding of the local market is as important as finding one with proven experience of selling the type of property you’re selling. A good agent should know as much about the property and the locality as the vendor. It’s smart to even act as a buyer to test an...

NIESV president, Sir Emmanuel Wike There is widespread eanxiety as Nigeria has entered another recession amid the coronavirus pandemic. The worst hit by the declining economic trend had been the housing industry, which was nursing injuries from government policies in the last four years. This year, particularly, the entire real estate sector performance slowed down, according to the National Bureau of Statistics (NBS) data.  Following the latest development and coupled with limited spending, ability by governments, private sector and households, access to affordable homeownership in the country, may experience further slump below the pervading 25 per cent. Nigeria’s economy slipped into crisis after its Gross Domestic Product (GDP) contracted for the second consecutive quarter.    There has been depletion in gross domestic product and cut in oil production, which is a major revenue source to government, to approximately 1.4 million barrels.   The government...

An illustration of the proposed Ilupeju Gardens in Lagos Lagos-based real estate development and lifestyle group – Design Union Limited, has begun development of Ilupeju Gardens, a fully serviced estate in the heart of Lagos Mainland. The project is being developed in conjunction with the Lagos State Government through its agency, the Lagos State Development and Property Corporation (LSDPC), designed for busy executives and modern families. Beyond the greenery and great health benefits, Ilupeju Gardens is an exclusive kind of apartment complex, driving a new renaissance in Lagos. The project enjoys a good location that is easily accessible to the local and International Airports, Lagos Island and the Lagos – Ibadan Expressway among other institutional places. The estate comprises 202 units of affordable luxury accommodation of various house types including one, two and three bedroom apartments as well as four bedroom maisonette and one bedroom penthouses. The units are d...

Trees can help to minimize the effects of carbon emissions, and one Northeast builder says it will plant more trees around new development—and is urging other developers nationwide to follow suit. Michael Ziman, president and CEO of Ziman Development, based in New Jersey, has launched One Tree Pledge, a sustainability program to help residential and commercial construction companies negate emissions associated with buildings. Ziman, partnering with the organization American Forests, is inviting builders to take the pledge and plant one tree for every square foot of housing built. American Forests will assist with the planting at a cost of $1 per tree. Trees naturally take in carbon dioxide and release oxygen. To Ziman, trees are the solution that will help fight the impact of construction on the environment. “As an owner-operator in construction specializing in beach homes, it was important for me to align my outdoor interests with my values,” Ziman told Builder. ...

Dubai one of the states in the United Arab Emirates (UAE) seeks today to move away from its traditional oil dependence to a more balanced one based on tourism and services. As a result, its economy has grown with more and more tourism resorts coming up to meet this aim. This article will list three reasons why you should invest in Dubai today. [caption id="attachment_9064" align="aligncenter" width="1024"] Invest In Dubai[/caption] Firstly, Dubai as mentioned earlier is becoming a services hub and in particular a financial services hub, there is going to be an increase in the number of foreign professionals who are flocking there to work and with a high pay and tax free status over there, the average rental yields of properties there is above the average. Currently the single room studio apartments are doing the best in terms of rental since the expatriates that work in Dubai tend to be single individuals so this would be a great real estate investment t...

Watch Love It or List It Australia now exclusively on Foxtel’s Lifestyle to see what Jess and Chris did with this home. In the latest episode of Love It Or List It Australia, Jess and Chris have a common property dilemma – update their Coorparoo heritage home or sell it?  Jess and Chris with hosts Andrew Winter and Neale Whitaker. Picture: Love It Or List It Australia Jess loves the character of this Queenslander and thinks a renovation could transform the house while Chris thinks it’s better to sell it. What should they do? Andrew Winter and Neale Whitaker hosts of Love It Or List It Australia take a look and offer their advice. List it: Why now is a great time to sell Updating a heritage home can be costly, particularly if you don’t have any industry contacts or aren’t particularly skilled at DIY, says Winter. Labour costs can be high and renovations can sometimes reveal other structural issues that need to be fixed in older homes. The din...

  [caption id="attachment_156701" align="aligncenter" width="1280"] Bad Loans[/caption] Bad Loans :  M ortgage lender reported million net loss for six months compared to the same period a year ago on the back of increased provisions for bad loans . Troubled mortgage lender Shelter Afrique has reported a $2.16 million net loss for the six months ended June, compared to a net profit of $1.65 in the same period a year ago on the back of increased provisions for bad loans . Shelter Afrique’s loan impairment charges — provisions for credit which may not be recovered in full — jumped 173.63 per cent in the half year period to $5.6 from $2 million in a similar period last year. Bad loans ! The housing financier’s loan book dropped by 6.96 per cent in the six month period to June to $263.4 million from $283.1 million.Net interest income rose 19.12 per cent to $8.12 million from $6.81 million the lender said.  The company — owned by 44 Af...

Rotimi Ajanaku is from the Ajanaku dynasty in Lagos Island ‘Oke Popo’. He was born and bred in Ibadan . For want of a better description, Rotimi Ajanakus is a misunderstood man. Like a proverbial cat with nine lives, despite several shots fired at his breath, Rotimi keeps resurfacing stronger. With the sobriquet ‘Don Dino’ in the social radar,  he means different things to different people. Close allies define him as a free giver as he is always willing to extend helping hands to others. Rotimi Ajanaku Rotimi has a thriving business that cut across hospitality, transportation, oil and gas, agriculture and real estate. He delved into the murky waters of politics in Oyo state where he contested but lost out at the party primaries. Rotimi is from the Ajanaku dynasty in Lagos Island ‘Oke Popo’. He was born and bred in Ibadan where he spent his growing days. Dandy Rotimi spares no cost in giving himself a nice treat. He went off the social radar for a...

[caption id="attachment_858" align="aligncenter" width="500"] High mortgage ratesare [/caption] Mortgage rates can also affect sellers who are wishing to place their home on the market. While you want to obtain the most money for your home at closing .  Mortgage rates . Unless you’re one of the fortunate few who plan on using cash to purchase a home, you need to stay aware with what’s going on with the mortgage industry. Mortgage rates are indeed on the rise. But the good news is that they are still at record lows. Although they probably won’t stay at this level forever, you want to determine how the increasing rates may affect your future in the housing industry. Rushing to Purchase a Home As rates begin to climb, those in the market for a new home typically rush out to purchase a dwelling. But most housing experts advise against this sudden yearning. Buying a home is a major investment, and you don’t want to make a mistake by purchasing something tha...

Lack of sufficient insurance coverage for many homeowners in Texas, Florida, Puerto Rico . Many homeowners have limits on their home insurance policies that are too low to cover the full cost of repairing or rebuilding in case of a natural disaster—and the problem is particularly alarming in areas at risk of hurricanes and flooding, The Wall Street Journal reports. Catastrophic damage left in the wake of Hurricanes Harvey, Irma, and Maria last year revealed a widespread lack of sufficient insurance coverage for many homeowners in Texas, Florida, Puerto Rico, and elsewhere, according to the Journal . The problem is that while many homeowners may have home insurance, their policies are too low or they don’t have flood coverage, which generally must be purchased under a separate policy. “Many people thought that they had a fully insured home or fully insured business” before last year’s storms, says Iraelia Pernas, executive director of Acodese, an industry ...

Just how large a house really is may depend on whom you ask . Just how large a house really is may depend on whom you ask, The Wall Street Journal reports. That’s because appraisers, developers, builders, real estate professionals, tax assessors, and architects all measure spaces differently. No universal standard exists for calculating a home’s square footage. Further, it can also vary regionally. Read more : Say Goodbye to This Suburbia Staple For example, some calculate space on only the interior dimensions of finished living spaces. Some industry insiders may count the garage or finished basement in the square footage; others may not. Whether to count the square footage of balconies, basements, garages, or even wall thickness can vary too. Fifty-eight percent of 400 consumers recently surveyed by Houzz.com said estimates of their home’s square footage varied among real estate professionals. Square footage is an important number when it comes to buying a house or r...

[caption id="attachment_10513" align="aligncenter" width="400"] 10 facts to knowfor Land buyers in Nigeria[/caption] Below are the 10 facts to know , for Land buyers in Nigeria. 1. Know and study the “Land Use Act” of the Federal Republic of Nigeria 1979 very well. 2. All approvement must be by Written documents 3. All activities must be Camera/Video 4. Don’t deal with a thug, or lawless persons 5. Make sure the receipt is genuine and include Nigeria post stamp and properly Written. READABLE TO CONTAIN A. Date of issuance B. Name of seller/issuance C. Location and size of the land D. Amount paid written in words E. Period, or condition of sales 6. Make sure you link the seller to an indigenous family owner 7. Local and State Zoning authority may be notify for fact-findings in the Governmentt Land gazette. 8. Make sure you publish the land in a National news Paper for public notice. 9. Don't be far away from your land and try to develop, farm or put a...

  Towards providing guides to investors on strategic opportunities in the realty sector, foremost realty brand, specializing in providing a premium service, Messrs Fine and Country in collaboration with Business Day and Lagos Business School is convening the fifth edition of the economic and real estate outlook series. The event offers opportunity for potential real estate investment and will feature an exhibition from pre-qualified developers showcasing Nigeria’s best real estate opportunities for the year. The theme for the event slated for February 6th, 2018 by 9am at the Lagos Business School, Lekki is; “Navigating Change: Real Estate and Economic Outlook 2018”. Some of the speakers expected include; the Managing Director of UPDC; Mr. Hakeem Ogunniran, Dean of Environmental Sciences, and Professor of Housing, University of Lagos Prof. Timothy Nubi, Director General, Nigerian Mortgage Refinancing Company; Ben Akaname, and Partner, Jide Taiwo & Co; Olawale ...

In what feels like the blink of eye, buying and selling property via online auction has gone from future possibility to very real reality. The COVID-19 crisis has prompted the entire real estate industry to expedite longer term plans to offer such services entirely online and with parts of Australia under strict lockdown, it’s now part and parcel of buying and selling. We asked some experts to answer the biggest questions around this growing phenomenon. What is an online house auction? As the name suggests, an online house auction is just like a regular “stand in the front yard and bid” auction, but virtual. It’s an auction on the internet. Online auctions for real estate have become the norm for real estate in areas affected by COVID-19 restrictions. Picture: Getty Michelle May, a Sydney-based property flipper-turned buyers’ agent, said with an online auction, instead of physically standing at the property or auction house and placing bids, it’s done...