Real Estate Financing

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Secured Credit and Insolvency Law in Argentina and the U.S.: Gaining Insight From a Comparative Perspective

Secured Credit and Insolvency Law in Argentina and the U.S.: Gaining Insight From a Comparative Perspective

But Article 9 does not extend to real estate financing. Real property must be covered by a mortgage or similar formal real estate security document. The law of real estate financing i[r]

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Financing Risk of Real Estate Enterprises and Its Prevention and Control Measures

Financing Risk of Real Estate Enterprises and Its Prevention and Control Measures

The research on real estate financing risk in China started late. Because of the limitations of research conditions, most of the current research on enterprise fi- nancing risk control focuses on the theoretical framework stage. Mou Lingling and others divide the real estate investment risk into social risk, technical risk and natural risk, and use the Fuzzy Analytic Hierarchy Process (FAHP) to eva- luate the risk, and get the main risk affecting the real estate investment. Wang Yunfeng focuses on the analysis that large-scale financing of real estate using government financing platform is liable to generate greater financial risks, which requires that direct financing channels must be expanded. The existing domestic research results do not have the financial background required by the foreign frontier theory, and there is a lot of room for further research.
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The Study of Chinese Real Estate Enterprises Issuing Perpetual Bonds Financing:  Advantage and Risk

The Study of Chinese Real Estate Enterprises Issuing Perpetual Bonds Financing: Advantage and Risk

In summary, because of its own characteristics, perpetual bond can be a good fit of the financing needs of the real estate business, and also can be a good solution to break current major financing difficulties. From the in- ternal environment, real estate companies need long-term stable financing and reduce financing costs. And from the external environment, there is no sign of relaxation of control measures on the real estate in the short term, so real estate financing needs to expand the channels. And as domestic investors demand for high risk bonds gradually expanded, the opportunities for real estate can be issued perpetual bonds which are becoming increas- ingly larger. So in the future, there will be more and more real estate companies considering issuing perpetual bond. But at the same time, sustainable domestic debt as a new thing also faces many challenges, the risks at- tendant also had to cope with caution, not only need to improve the regulatory system, market norms, but also with more mature companies, come together to develop into healthy and sustainable debt financial instruments.
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IT, outsourcing, real estate, and China: An old economy business leader’s take on boom sectors in India

IT, outsourcing, real estate, and China: An old economy business leader’s take on boom sectors in India

This article features an interview with Gaurav Dalmia, Chairman of Landmark Holdings. He is a third generation tycoon from the Dalmia group, an Indian business conglomerate. Today the family-owned business powerhouse has interests in cement, industrial ceramics, chemicals, engineering, and trading. They have now started going into new areas. In services, for instance, they are into software, investment business, real estate financing etc. He was also selected as the global leader for tomorrow for the year 2000 by the World

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The political economy of high speed rail in Florida: 1981 present

The political economy of high speed rail in Florida: 1981 present

In sum, the 1980’s initiative to implement very high speed rail in Florida failed for three reasons: first, because project sponsors followed the flawed neoliberal assumption that the private sector would support their project without significant public backing. In fact, private investors were only willing to assume risk for a project, if the State of Florida, or federal authorities, either guaranteed their loans, and/or to directly contributed public funding. But, the 1984 High Speed Rail Act forbade the use of public guarantees, or budget appropriations to pay debt service. Second, project sponsors wanted exemption from taxes on the interest earned from bonds issued to fund rail line construction. However, federal legislation in 1984 and 1986, under the neoliberal Reagan Administration, excluded high speed rail from the list of qualified private activities. Third, real estate financing, which seemed so promising in the early 1980’s , also turned out to be based on false assumptions: that large amounts of property were available for development, in return for which impact fees could be assessed and used to finance the new high speed line; and that property values would continue to appreciate for the foreseeable future. Studies showed that much of the land along the proposed Miami-Orlando-Tampa rail corridor was already owned and approved for development, and hundreds of tax assessment districts had already been established by local authorities, who did not respond positively to the idea of adding further assessments.
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EFFECT OF LOAN FINANCING ON PERFORMANCE OF THE REAL ESTATE SECTOR IN KISUMU CITY, KENYA

EFFECT OF LOAN FINANCING ON PERFORMANCE OF THE REAL ESTATE SECTOR IN KISUMU CITY, KENYA

In addition, majority of the respondents 90.2% were of the opinion that short term loans are the primary options of commercial real estate financing, while 10.8% disagreed. This was further supported by (mean=4.48; Std Dev 0.450).These findings were supported by Adjonyoh (2017) who did study on the effect of access to long term capital on real estate delivery in Nigeria. The findings disagreed with the current study findings. The researcher argued that lack of access to long term capital is a major barrier to real estate delivery. Even though the government policies recognizes the private sector’s dominant role in housing provision, the banks have short term funding and unable to lend on medium or long-term bases, thus crippling the real estate industry. This could be due to the fact that the study was done in Nigeria and the results could not be replicated in the Kenyan setting.
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Shaping a CBR view with XML

Shaping a CBR view with XML

In (Hayes et al., 1998) we proposed a generic DTD for CBR called CBML that allowed cases to be marked up in an XML-based format. The major drawback of this approach was that data needed to be marked up in this CBR specific format but now the evolving potential of XML allows for an improvement on this idea. In an e- commerce situation domain specific DTDs exist and catalogue data will be marked up in this format – for instance RELML has been proposed as a standard for marking up real estate data. Any case-based assistant that would operate in this space would need to access this data. The new XML proposals for Namespaces and Schemas allow for a CBR view on this data and it is this approach that we describe here. This approach has the advantage that it uses existing XML data; it simply provides the appropriate CBR perspective on this data.
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REAL ESTATE INVESTMENT PORTFOLIO AND REAL ESTATE INVESTMENT CLIMATE IN BATANGAS PROVINCE

REAL ESTATE INVESTMENT PORTFOLIO AND REAL ESTATE INVESTMENT CLIMATE IN BATANGAS PROVINCE

a place to stay. Residential property in Batangas province is a growing industry. This can be observed based on the different real estate developers that arise like a mushroom within the province. Despite these characteristics, real estate brokers tend to shift their preference of selling product from Batangas to other nearby provinces. It seems that selling residential properties in Batangas is challenging due to different taste and preferences of the possible buyers. They are looking for more specific details of the properties in which the developers failed to consider. Another instances of the problem of residential properties in Batangas is that most of the investors are came from different provinces and serve as their only townhouses but there are a lot of Batanguenos who do not still owned houses. Some of their reasons is that most of the residential properties offered are too expensive, and those affordable housing are located far from their work. Looking at this scenario, all of these boiled down to the deficiency of environmental scanning. With the help of this study, proper planning of what residential property shall be develop may be formulated so that those problem may be solved.
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Role of actors in informal settlements real estate market

Role of actors in informal settlements real estate market

Informal settlements located in the peripheral areas are referred to as Substandard Commercial Residential Subdivisions (SCRSs) characterized by planned layout, low service levels, high tenure security, non-conformity with planning regulations and self-help housing (UNCHS, 1996; Davis, 2006). The peripheral lands are often transition zones between fully urbanized land and rural agricultural lands (Kombe, 2005; Adam, 2014). The recognition of the customary land delivery system by parties involved in the transaction and the communities provides sufficient tenure security for the lands and buildings in these areas. Although these transactions are not legalized by government, they are often tolerated by the government and accepted by the social networks of communities. These informal settlements tend to have their own form of social ordering (Adams, 2014). They therefore exhibit relative stability and an order characterized by respect given by market participants to informal property rights (Munshifwa, 2013). The unwritten, socially shared rules that guide the informal real estate sector often emerge spontaneously. It is this type of informal settlement that this study investigates.
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Changes in REIT liquidity 1988   2007: Evidence from daily data

Changes in REIT liquidity 1988 2007: Evidence from daily data

When U.S. Real Estate Investment Trusts (―REITs‖) were first created during the 1970s, they were viewed as a tax-preferred mechanism enabling retail investors to own shares in diversified real-estate portfolios. Following the U.S. commercial real estate debacle of the late 1980s, REITs were ― re-discovered ‖ as a mechanism enabling institutional investors to hold real estate in their portfolios and obtain relatively high dividend yields while maintaining the ability to exit their investments at will without requiring a sale of the underlying real estate assets. The liquidity of REIT investments relative to alternatives, such as separate accounts and commingled real estate funds, had great appeal to these investors, and led to tremendous change in the REIT industry during the past two decades. Market capitalization grew from $11 billion in 1987 to $141 billion in $1997 and $312 billion in 2007. However, the 2007 figure was down by more than 25% from its high of $438 billion in 2006. Institutional investors played a pivotal role in this growth, with institutional ownership of equity REITs accounting for 76 percent of all outstanding shares as of year-end 2008 (Source: SNL Securities).
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Management Accounting in Pricing Decisions for Real Estate of Real Estate Enterprises in Vietnam

Management Accounting in Pricing Decisions for Real Estate of Real Estate Enterprises in Vietnam

In fact, the pricing decisions for real estate in REEs in Vietnam has still has a lot of inadequacies. According to the survey, most of REEs responded that their pricing decisions for real estate of enterprises have not been really suitable with market conditions, most of the prices are different from those of successful transactions prices of secondary investor in the real estate market. One of the main reasons leading to above situation is due to the information system and the real estate pricing decision-making process have not met management requirements of corporate executives, not a reliable basis for real estate investors to offer appropriate pricing decisions. From the above mentioned issues, this paper shall take into consideration the actual situation of pricing decisions for real estate in Vietnam’s REEs then propose some solutions for improving the information system and the real estate pricing decision-making process for creating the highest economic efficiency for the REEs in the current market conditions.
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Statement of Waqf Real Estate Property in the West Bank and Current State of Its Investment during the Palestinian National Authority Rule

Statement of Waqf Real Estate Property in the West Bank and Current State of Its Investment during the Palestinian National Authority Rule

The change in the current state of affairs of waqf real estate returns largely depends on change of the lease and rent law effective currently in the country. This law, unfortunately, does not allow increase of lease charges except within the limits of contracts between the landlord and the tenant (Omar, 2011).This in return increases inefficiency in optimal use of waqf resources. A large amount of returns from tenants is the result of difference between the average of the real rent ( he/she must pay ) and the rent charges paid ( agreed upon ). This is what is known as the consumer surplus of service or product though it is always possible to pay the actual value of the real estate rent with the stay of the tenant in a profitable position. However, the law has made the tenant enjoy all these advantages/ concessions at the expense of the landlord. (Eshtayeh Mohammed et al, 2006). Therefore, we can conclude that the Lease/Rent Law effective currently in the West Bank represents the major obstacle in front of the maximum exploitation of the important waqf economic resources. This accordingly necessitates introducing amendment to this law which deprives the landlord of increasing monthly/annual rent except within limits of the agreements concluded with the tenant. Equally important, the waqf directorates have to setup renovation plans for all waqf real estate holdings and the old ones in particular and upgrade them to serve the market and generate more proceeds for the waqf (Omar, 2011).
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What Prompts Central Bank Intervention in the Barbadian Foreign Exchange Market?

What Prompts Central Bank Intervention in the Barbadian Foreign Exchange Market?

The paper also looked at the implications of the model for Central Bank intervention in 2012. Based on the estimated model, oil-related FX interventions should increase in this year, as oil prices are currently forecasted to continue to rise in 2012 (see IMF’s World Economic Outlook released in April, 2012). Current expectations are that interest rate spreads should remain relatively unchanged. Hence, changes in sale interventions brought about by movements in the interest rate spread should be negligible. While the model only looked at how seasonal fluctuations impact FX interventions, it can be inferred that the amount of tourism receipts received in Barbados significantly impacts on sales interventions. As at April 2012, the WTTC projects a rise in tourism receipts for Barbados. This could bring about some ease in sale interventions. Finally, current forecasts are that real estate related inflows should be stable in 2012, and this should increase the chances of a purchase intervention. However, it should be noted that these predictions for intervention are more indicative than conclusive as they are largely conditional on (1) the accuracy of the model 5 ; and (2) the projections for oil prices, tourism receipts, interest rate
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Financial Crisis and the Comovements of Housing Sub markets: Do relationships change after a crisis?

Financial Crisis and the Comovements of Housing Sub markets: Do relationships change after a crisis?

meaning that we simply pool all 36 estates together in our calculation. It is possible, however, that those 36 estates actually come from different distributions. For instance, some of them may be “luxurious housing” while some are “normal housing.” It is possible that the correlations within the same “class” do not change during a financial crisis, and yet the correlations among estates from different classes change significantly. In other words, the mean correlation calculation may be subject to some form of “composition bias.” To investigate this possibility, we divide our sample into two groups, with the “luxurious group” consists of all estates in the Hong Kong Island, plus Parc Oasis and Village Gardens, and the “normal group” includes the rest of the estates. We find that whether we use the average total sale price as the criteria, or based on the previous research on Hong Kong housing market, or some subjective assessments in the media, we will obtain the same classification. 41 In the appendix, we show in details how the mean correlation can be interpreted as a weighted average of three sub-group mean correlations, which are S1 (the mean correlation within the luxurious group), S2 (the mean correlation within the normal group), and S12 (the mean correlation among the two groups, i.e. one estate is from the luxurious group and the other from the normal group). We apply the same procedure as before and Figure 8a, 8b show respectively the subgroup mean correlations for the housing returns and trading volume. Interestingly, the differences among the three subgroup mean correlations are very minor. This suggests that our major results do not come from a composition change, but rather than there is an “universal change” in the mean correlation among estates, whether within group or between group, and whether it is in terms of the returns or in terms of trading volume.
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Credit Risk Mitigation with Real Estate Collaterals in Nigeria’s Commercial Banks

Credit Risk Mitigation with Real Estate Collaterals in Nigeria’s Commercial Banks

The resulting challenge to the valuation professionals is the need for continuous development in valuation technology, ensuring appropriate adaptations to meet local needs. On the other hand, banking professionals, especially those responsible for the processing and management of mortgage securities need to be well acquainted with valuation methodologies and procedures to enable them adequately assess valuation advice and make their valuation-aided lending decisions more rational. These are necessary for valuation of investment assets and would warrant continued professional development and re-professionalisation of both valuation and banking professionals. Research and training should be directed towards this area of professional competence with collaboration between the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Chartered Institute of Bankers of Nigeria (CIBN). This will demand increased supervision by the regulatory agencies in the valuation and banking professions. All these are essential to ensure that reforms in Nigeria’s financial sector result in upgrade of professional competences of relevant staff and advisers which is important to the achievement of reform objectives.
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The Potential Impact of implementing Project Management strategies in Real Estate SMEs of Pakistan: a Case Study of Sahir Associates Pvt Ltd

The Potential Impact of implementing Project Management strategies in Real Estate SMEs of Pakistan: a Case Study of Sahir Associates Pvt Ltd

Real estate sector is one of the emerging sectors of Pakistan. According to the semi structured interviews and market researcher society’s like Sahir Associate have potential in the market as they offer cheap house for low income customers. Despite their main area of business, projects are dealt in a conventional way in the company and there is no proper training and development procedure for managers in it. According to one senior manager “one of our competitors Lack City has hired professional qualified project managers as their projects are on large scale and in different parts of the city so for us we are too small to invest in this sector”. Hence there is need of potential project management methodology in the company to grow with their cost effective and better quality housing schemes.
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BRANDED REAL ESTATE AGENCIES: THE IMPACT OF THE BRAND ON CONSUMER BEHAVIOR IN REAL ESTATE MARKET.

BRANDED REAL ESTATE AGENCIES: THE IMPACT OF THE BRAND ON CONSUMER BEHAVIOR IN REAL ESTATE MARKET.

Another sine qua non in the real estate marketing is the marketing communications. Gibler & Nelson(2003)’s study shows that lacking information about the property generally causes to a decision not to buy. A real estate agent uses visual tools such as newspaper ads, for sale/rent banners and internet, when describing a property to a customer. Here the purpose is to establish a more effective communication and to ensure making sense of the message. The communication methods that are used by a real estate office in order to reach their customers are the works they keep on using in order to get feedback from their customers and to give direction to their works. In their study Perkins, Thorns, & Newton (2008) and Zhong & Kuai (2011) researched real estate advertising. In their study, Williams, Qualls, & Grier (1995) used race as a demographic segmentation base in real estate market and explained how advertising differs for African Americans.
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Empirical Model of Strategic Decision Making in Real Estate Development Relation between Economies, Capabilities, CRE Sustainable Development Strategies and Performances

Empirical Model of Strategic Decision Making in Real Estate Development Relation between Economies, Capabilities, CRE Sustainable Development Strategies and Performances

Today, everything has changed. Globalization, the integrated internationalization of markets and corporations. Globalization is an undeniable phenomenon that is fundamentally changing the way business is conducted.The changing landscape of the industry is very rapidly, requires a faster decision-making process in real estate development. The generic real estate development process was too long for decision making. The contemporary framework would be much useful to integrate both resource-based view (RBV) and industrial organization (IO) paradigm. It’s combine economies, capabilities, Corporate Real Estate (CRE) strategies, sustainable development, and Net Present Value (NPV) and Economic Value Added (EVA) performance. Empirical model of Strategic Decision Making in Real Estate Development applied with multiple optimation methods and decision criteria.
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Impact of Real Estate Regulation and Development Act (RERA) on India's Real Estate Sector

Impact of Real Estate Regulation and Development Act (RERA) on India's Real Estate Sector

The RERA move coupled with Goods and Services Tax implementation is seen as a positive move for the sector. The main issues plaguing real estate in India were transparency and accountability, which have been tackled now. Such has been the impact of RERA that when the website was launched in Uttar Pradesh state, 15000 complaints were registered in a single day from Noida region alone . However the response in some states to RERA has been dissatisfactory. In Haryana, buyers have complained that they are excluded from RERA if they have already moved in to the property. Thus, they cannot file a complaint for lack of services or amenities provided by the builder . The full effect of RERA will come only after a year since each state is setting up its independent legislation and a standardized measure for success will take time to build.
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Empreo Real Estate System

Empreo Real Estate System

Empreo is a web-based system developed to improve the management of real estate industry services on trading and marketing purposes. This system is mainly about using QR code in Empreo real estate property website for convenient intention. Client scans the QR code attached with the property advertisement using a camera equipped smart phone with QR code reader installed anytime at any location. On the other hand, QR code can be seen in magazine, advertisement, billboard, web page or someone’s t-shirt. Scanning on QR code can give details about that business, details about that person wearing the t-shirt, URL to a movie trailer or voucher to use for discount. They are very useful because they store much more data including URL links, geo-coordinates and text. Figure 2.1 shows a QR code with that encodes 0123456789.
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