What's the difference between Private Condos & Executive Condos?

What's the difference between Private Condos & Executive Condos?






Each person who wants to buy the condo, first and the foremost thing he does, is look at the list of cheap condos in Singapore or the ones that gives you interesting view like Sky Miltonia, which is one of those condos that offers a breathtaking panoramic view of the Orchid country club golf course and lower Seletar reservoir. But if you plan and focus only on the private and the executive ones, there are certain points you have to keep in mind.







If we talk about the executives and the private condominiums, there are 3 differences between them, which are based upon;

If we talk about the executives and the private condominiums, there are 3 differences between them, which are based upon;

• The restrictions on ownership
• Housing grant for directive apartments
• Price level 

The main and the most important dissimilarity is the ownership restriction. Like in HDB (Housing and Development Board) one has to fulfill for the first 5 years of Minimum Occupation Period (MOP), and in ECs (Executive Condominium) owners are not allowed to sell their ECs until the same procedure is followed. After 5 years, ECs are allowed to sell to the Singapore citizens or to the Singapore permanent residents. Then after 10 years of the ownership, condominium will receive a ‘privatized' status and further can be sold to the foreigners.

The logic behind the restriction is that ECs are indulged with home buyers, which belong to the ‘sandwich' group. Sandwich group is for those who are not qualified for new HDB flats and are not able to bear with the high prices of the personal property. Due to this restriction, ECs are unfavorable as compared to the personal properties and cannot be sold in accord with the market conditions. 

If the Departmental Condos are eligible then they get high on CPF housing grant and this is not in favor of separate condo buyers. CPF is a housing subsidy, which is provided by the Government to benefit the buyers who are qualified, in buying the executive co-op whose prices are completely dependent on the gross monthly household income of the buyer's family. Thehousing grant address to the ones who are young professional couples or first time buyers who have more CPF then the cash. Directorial housing has the option of Cash over valuation (COV) to resale HDB sellers.

Ownership limitation and ambitious customers,Directive co-ops are priced 20-25% lower than thenon-public co-ops. There are built-in price controls which make the non-public housing bit expensive than the administrative housing. Executive housing also has more facilities as compared to the non-public ones but is restricted to 99-year leasehold rather than a freehold. Maintenance fee includes the car park space with no additional parking fees for administrative co-ops which is entitled to one car park space and there is no custom or tax for the second timers.

Administrative housing benefits also depend on your personal property investment portfolio and risk appetite, this is possible only if you buy for the personal stay and start your property investment in few years when your income is on higher scale. By this, you will not be affected by the MOC regardless of the market conditions.

How To Find Cheap Apartment in NyC New york USA

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The easiest way to save money is to avoid paying a broker’s fee. “Look for a building with a rental office directly on site,” suggests architect Hayes Slade, whose Slade Architecture firm knows something about affordable housing (it won an award for its design of a Brooklyn housing project in 2010). “That way you can negotiate directly with the landlord and skip a real-estate agent fee.” In order to ditch online searches, Slade recommends walking the streets of your desired neighborhood and looking for offices and for rent signs. That’s how investment banker Jessica Gutierrez found a studio she loves in Battery Park City. “Ask doorman,” she says. “I would first ask if this a condo or is there a leasing office. If it was a condo, I would ask if they had a list of owners renting out their apartments. At the ones that did, I would leave my business card, and I got a lot of callbacks from owners renting their apartments themselves.” Victoria Hagman, president of the Brooklyn-focused agency Realty Collective, hit the pavement too. “When I was looking for an apartment,” she says, “I would go to moving sales every weekend and ask, ‘Has your landlord found someone to take your apartment yet? Can I see it?’ ” For more tips, look for Realty Collective’s new apartment-hunting classes at the Brooklyn Brainery (brooklynbrainery.com; next class May 16, $10).

Look at bigger apartment buildings
“A good way to find an affordable apartment in Manhattan is to look in buildings that have between 15 and 30 apartments,” says Joshua Price of the Price Law Firm LLC, which specializes in landlord-tenant representation. Odds are good that if the building has rent-stabilized apartments, they will stay that way. “In those buildings, it’s less likely that, when an apartment becomes vacant, the landlord will expend the enormous amount of money necessary to deregulate an apartment. Generally an investor with a ten-unit building is trying to deregulate every unit and then sell the building. Someone with a 30-unit building is more likely to be thinking to hold it and not spend as much money on each vacancy.”

Face something ugly
None of us dreams of gazing out our windows and seeing on-ramps and toll booths, but it might be better for your bank account. “Proximity to generally undesirable transportation facilities can be a money saver,” says Ryan Harris, a city planner and a local representative of the American Planning Association. “Look for areas near elevated train lines, highways, or bridge and tunnel entrances to be more affordable than those even one or two blocks away.” Harris himself has a colleague who pays $1,850 for what he calls a “very comfortable” one-bedroom right by the Midtown Tunnel—when the median rent for one bedrooms in the rest of that section of Murray Hill is, he notes, $2,295.

Buy earplugs
“Apartments that face noisy construction sites or other noise-generating operations can be a deal if you are willing to put up with it,” says Morgan Turkewitz of Citi Habitats. “Apartments above restaurants or bars tend to be less expensive, as are buildings located along busy avenues.” City planner Harris agrees, adding that “for those not bothered by noise and disruption, construction of the Second Avenue subway will continue for another four-plus years, and I suspect it will depress prices along Second Avenue to some degree.” In fact, it did for Jessica Samakow, a 21-year-old intern at an online company who moved into a studio on the Upper East Side last August. “The broker I dealt with said the normal price for my apartment was around $1,600,” she says. “But because I’m right near the Second Avenue subway construction, I got the construction discount and now pay $1,300.”

Wait until May
Lorraine Nadel, senior attorney at Nadel & Associates, a midtown firm that handles real-estate issues and landlord-tenant litigation, recommends watching for a change to the city law that will go into effect on May 1. The new edict will require that apartments in most buildings with three units or more be occupied for more than 30 consecutive days. “This means that it will be illegal to rent out apartment units for short-term stays,” she says. “This should increase the supply of available apartments, which should in turn cause rents to drop, since apartment units can no longer be kept off the market to be operated as if they were hotel rooms.”

In fact, wait until winter
Typically, fewer people move in the winter, making landlords ready to deal. When designer and home stager Susan Goldstein was in the market for a new place, she contacted landlords between Thanksgiving and Christmas. “We looked at buildings that offered incentives,” she says. Her broker, David J. Bucci of A.C. Lawrence & Co., reports that Goldstein was able to get one month of rent free, and the building paid the broker’s fee. “The majority of leases turn over during the summer, so the inventory is high, but so are prices and the number of people looking increases dramatically,” he says. “If you are looking for a deal, the winter months are the way to go.”

Throw in a little elbow grease
“Most landlords are happy to share the cost of certain repairs and deduct the cost from the rent,” says Candice Vilaire of Brooklyn Heights Real Estate. “Taking care of the property—painting, recycling, snow-shoveling, vacuuming the hallway—is a good idea to get a reduction on the rent, especially in smaller buildings.” Vilaire once negotiated an annual rent reduction of $2,500 for an architect client who was willing to redo some outdated kitchen cabinets for the landlord. “The rent was decreased by about $200 a month, they lived with a beautiful kitchen, and everyone was happy.”

Find a low-key neighborhood
“Check for neighborhoods that are never mentioned in the real estate section of The New York Times,” says Mitchell Moss, a professor of urban policy and planning at NYU Wagner. “Look for industrial areas where there are no Internet cafes or health-food markets.” His suggestions: Ridgewood, Queens, and East Williamsburg, Brooklyn.

Watch for extras
Utility bills can quickly add a hefty bump to your monthly outlay. For example, while landlords typically pay heating costs, electricity may come out of your pocket. “One thing renters should watch for: older buildings that are converted to electric heat,” says Nancy Rankin, an architect with John G. Waite Associates, a firm that specializes in historic architecture. “Usually the installation costs are much cheaper for the landlord, but the monthly electric bill to heat the apartment will be very high.”

Rise up
As many of us already know from personal experience, the rent really is too damn high. “There are no affordable apartments. Not in Manhattan, the Bronx, Brooklyn, Queens or anywhere upstate,” says Jimmy McMillan, the man who has run for mayor and governor on the Rent Is Too Damn High ticket. “The buildings are crumbling but the landlords keep making the rent go up and up and up.” So what can you possibly do to lower your monthly fees? McMillan knows: “The young people have to rise up and overthrow the votes of their parents. They must rise up like the young people in the Arab world and across the country. But they must rise up using democratic means, rise up through their votes and vote smarter.” So if all the above tips, don’t work, you know what you have to do.

Where Are The Safest Places To Live In The United States

Where Are The Safest Places To Live In The United States?







Being in a safe community is one of the most important factors that buyers consider when purchasing a home, condo or any other type of real estate. So where are America's most secure places to live? The Farmers Insurance Group of Companies has released its third annual ranking of top 20 'Most Secure U.S. Places to Live'.

Bert Sperling, a database expert with http://bestplaces.net, compiled the Farmers rankings based on data from 379 U.S. municipalities. Factors such as crime statistics, unemployment rates and risks of environmental hazards, terrorism threats, natural disasters and extreme weather conditions, were taken into consideration.

The communities were divided into three groups - large metropolitan areas (above 500,000 residents), mid-size cities (between 150,000 and 500,000 residents), and small towns (fewer than 150,000 residents).

According to the survey, the most secure community to live in the U.S. among large metropolitan areas are the adjacent communities of Boise City and Nampa (both in Idaho), which topped all large metro areas. Located among the foothills of the Rocky Mountains, the area has one of the lowest unemployment rates and enjoys a wonderful climate.

Among the Mid-size cities, those with a population between 150,000 and 500,000, the safest community to live is Las Cruces, New Mexico. Las Cruces was the first among mid-size cities in low unemployment rate and favorable climate categories.

St. George in Utah topped all small cities with populations of 150,000 or fewer in the survey. The city has 110,515 residents who enjoy a mild climate, clean air and low annual precipitation. It also has the lowest crime rates of all the 379 communities surveyed. St. George stands first in employment rate among the 138 small towns in the Farmers study.

The following are top 20 communities of America's most secure places to live among large metropolitan areas, mid-size cities and small towns:

The top 20 safest communities to live among the large metro areas are:

1. Boise City-Nampa, Idaho
2. Portland-South Portland-Biddeford, Maine
3. Las Vegas-Paradise, Nevada
4. Honolulu, Hawaii
5. Sacramento-Arden-Arcade-Roseville, California
6. Scranton-Wilkes-Barre-Hazelton, Pennsylvania
7. San Diego-Carlsbad-San Marcos, California
8. Bethesda-Gaithersburg-Frederick, Maryland
9. Syracuse, New York
10. Santa Ana-Anaheim-Irvine, California
11. El Paso, Texas
12. Albany-Troy-Schenectady, New York
13. Rochester, New York
14. Buffalo-Niagara Falls, New York
15. Oxnard-Thousand Oaks- Ventura, California
16. Poughkeepsie-Newburgh-Middletown, New York
17. Nassau-Suffolk, New York
18. Harrisburg-Carlisle, Pennsylvania
19. Bridgeport-Stamford-Norwalk, Connecticut.
20. New Haven-Milford, Connecticut.

The top 20 safest places to live among mid-size cities are:

1. Las Cruces, New Mexico
2. Rockingham County-Strafford County, New Hampshire
3. Huntington, West Virginia.-Ashland, Kentucky
4. Bellingham, Washington
5. Burlington-South Burlington, Vermont
6. Lynchburg, Virginia
7. Medford, Oregon
8. Prescott, Arizona
9. San Luis Obispo-Paso Robles, California
10. Binghamton, New York
11. Provo-Orem, Utah
12. St. Cloud, Minnesota
13. Fargo, North Dakota
14. Hagerstown, Maryland -Martinsburg, West Virginia
15. Olympia, Washington
16. Charlottesville, Virginia
17. Chico, California
18. Richland-Kennewick-Pasco, Washington
19. Manchester-Nashua, New Hampshire
20. Duluth, Minnesota

The top 20 safest communities to live among the small towns are:

1. St. George, Utah
2. Bend, Oregon
3. Blacksburg-Christiansburg-Radford, Virginia
4. Coeur d'Alene, Idaho
5. Ithaca, New York
6. Morgantown, West Virginia
7. Logan, Utah
8. Winchester, Virginia
9. Harrisonburg, Virginia
10. Idaho Falls, Idaho
11. Madera, California
12. Glens Falls, New York
13. Wenatchee, Washington
14. Bangor, Maine
15. Lewiston-Auburn, Maine
16. State College, Pennsylvania
17. Billings, Montana
18. Cumberland, Maryland
19. Lewiston, Idaho
20. Pocatello, Idaho








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Do You Required A Real Estate Agent?

Real Estate business has seen tremendous growth and so has been the need of Real Estate agent. Today more and more people are getting interested to become home owner and as the demand for real estate need increases the role of Real Estate Agent becomes more important. In the past one agent use to provide services to both seller and buyer but as the real estate market changed people started to realize that specialized service is more logical and beneficial. In Real Estate industry now buyer/seller are looking for specialized agents who can provide specialized related expertise, information and services required to complete the process. When a real estate agent represents both buyer and seller it really restricts agents to provide impartial service to either party.

Let's look at the both (Seller/Buyer) scenario separately. A real estate agents who is a listing agent of seller has a fiduciary, ethically and moral duty to represent seller only.

By getting Exclusive Right to Sell Listing, the real estate agent is promising seller that he will live no stone unturned to market the home and find the best buyer at maximum possible market value for the home.

As a Buyer's real estate agent he need to find the right home for buyer along with should all information of the community. When a buyer is exploring to buy a real estate property in new community, he is very much interested to find out several information related to that particular community such as population, crime, climate, schools, traffic, living standards etc. Buyer's real estate agent should be well informed with all these information so that he can provide that information to buyer. It will be easier for buyer to make the decision based on these information. Once the buyer is ready to buy real estate property in the community then other part of the real estate agent's duty starts. As buyer's agent it is his responsibility to find a real estate property, as per buyers requirement. It is also buyer's real estate agents duty to negotiate the best market price with seller.

So if seller and buyer are represented by their own specialized agent then both agents can play a partial and specialized role for their client..

So it is quite clear that one real estate agent representing both seller and buyer can not justify providing specialized service to both party. Both buyer and seller are in different need of services. That's why specialized real estate service has become more in demand where buyer/seller can get impartiality specialized service during the process.

Never before has the role of specialists in the world of real estate been more important. With buyers and sellers requiring more services, the industry has seen an explosion of agents who specialize in either the representation of sellers or buyers. These specialist agents can provide a wealth of services and maintain a complete impartiality during the sales process as there is only one client to concern them.

Historically the sales transaction and the concerns of the buyer were the purview of a single realtor. However, as the industry has progressed so have the needs of each party and so the specialist arose. Buyers have some very particular needs, and specifically the need to feel that their best interests are seen to. Listing agents are representatives of the home's owner and in that role they have a primary responsibility to that owner. How could they properly look after the needs of an interested buyer as well?

So what is it that a buyer's agent does? Primarily the buyer's agent will begin with the location of suitable properties for their clients. This is usually based upon a list of requirements and desires that the client has communicated to the agent. They will then arrange viewings and recap their findings with their clients and assist in deciding upon a good candidate for an offer. This will be based on the wealth of community information that a buyer's agent commands. As specialists, they are experts on their given area which is critical in the education of clients on the areas that they are considering. Once a property is decided upon, the buyer's agent changes significantly, evolving into an overseer-negotiator role. They will typically coordinate the inspections and conduct the negotiations with the listing agent. This includes the execution of the buyers subjects and the closing of the actual contract.

There is an art to representing a buyer. It is a role that has become ever more crucial in an industry where customer service is the single most important thing that an agent can offer. If you are in the market for a home then the buyer's agent is the friend that you need to make sure that you are given the service that you deserve.

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Real Estate And Property Management

Property Management And Real Estate
Good property management would not cost you money, in turn it would fetch you money. If a real estate investor has purchased an investment property, a single family home, duplex, a 4-plex or even larger multi family unit, the actual goal is simply cash flow. Depending upon the size of down payment and condition of the real estate property, cash flow may or may not become a reality.

These days real estate investors are interested investing in property with high leverage, normally properties that have a great deal of deferred maintenance. The new owner has to face the challenge of a lifetime and it would look like a lifetime before he would ever see any light at the end of the tunnel.

Good Property Management

A good property management company could be really useful to the investor who doesn't have time to dedicate to his or her real estate investment. A strong manager could be an actual gift to the investor faced with a huge number of problems including but not limited to upholding repairs and a large percentage of vacancies.

Property Management is not only about providing an apartment for an individual or a family investor. The property manager basically manages all sorts of services for the owner. Shelter is the understandable but along with that you have to comprise plumbing, heat, flooring, tile showers and tubs, roofs, ceilings, walls, panes, kitchen appliances, water heaters, carports, garage door openers, fans, cabinets, landscaping, walkways, stucco, siding, fireplaces, brick, and many other noticeable things. Aside from all of the tools and materials that are used for a housing unit, your property manager should be able to manage people. Those people are your customers and they are the individuals, which would keep your building afloat. The good managers know who needs to be rented your unit and who shouldn't. The manager would do credit checks, confirm income and previous residence.

When the successful real estate investor is about ready to buy an apartment building, they would usually bring their property manager along for one of the good inspections before signing any deal. The purpose, certainly, is to gain some imminent from another perspective. Often the real estate investor would fail to notice certain aspects or characteristics, which the property manager might quickly recognize. The property manager might see signs of sober maintenance problems, which an owner might fail to notice. The experienced manager could point out some hazards or possible problems, which might go unnoticed. The job of the manager is not to dishearten a real estate investor from making the purchase, but to assist the purchaser see the whole package.
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