China's Role in Real Estate: Poised for Growth

Steps the Chinese government is taking to bolster the country’s economy are likely to fuel interest among the country’s most affluent citizens in offshore property investments, according to the head of a company that helps people in China find international property to buy. These measures include releasing controls on China’s currency, the renminbi, over the next few years, which will make it easier for investors to move significant amounts of money overseas, said Simon Henry, co-chief executive officer of Juwai.com.

“All the activity you have seen with Chinese investors investing in international property will pale in significance with what’s about to happen,” Henry told an international audience during a Nov. 13 session at the REALTORS® Conference & Expo in San Diego.

A key motivator for people in China who can afford to buy property in the United States and other countries is the desire to send their children to school outside China, Henry said. They are also often looking to build on assets they have accumulated at home by placing financial bets in other places, although most are not looking to physically leave China themselves, he added. “People who are buying international property are already very property rich in China,” Henry said. “They have many houses in China already, and the property they have offshore is diversifying their portfolio.”


Henry advised cities interested in attracting Chinese real estate investors to take steps to attract them as tourists. “The single most important thing you can do to reach the Chinese buyer is destination marketing,” he said. “The places where they go on holiday are the places where they first purchase property.”

You can expect to see the property values continue to appreciate in these areas that attract Chinese real estate investors. 

SOURCE: DAILY REAL ESTATE NEWS

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4 Ways to Maximize Space in Small Homes

More young buyers are making the leap into home ownership. But many of them, due to personal preference or affordability restraints, are choosing houses or condos with a smaller floor plan to call home.
Here are 4 strategies for buyers to make the most of small spaces:

• Choose furniture carefully

When you need to maximize space in a bedroom or living room, making smart choices can help create a comfortable but spacious small space. Measure your rooms carefully before making purchases. Consider especially the thickness of the furniture; a chair with less bulky arm rests, for instance, might fit better in the space than a chunky one.  Avoid furniture with curves, as it sticks out without offering any benefits. 

In a bedroom, leaving off a footboard will increase overall space. TVs, too, should be avoided in a bedroom with size restrictions. Multi-functional furniture will become your new best friend. For example, a desk with a mirror hung above it placed near the bed will give you a nightstand, desk, and dressing table all in one. A stylish trunk used as a coffee table in a living room could hide blankets or pillows for when you want to get cozy and watch a movie.

• Paint to promote height

Darker colors, in general, will make a space feel smaller and more closed in. This is especially true if you put a dark color on the ceiling. A light color on the ceiling makes the room feel taller than it is. Lighter colors on the wall may give the illusion of more light and space as well.

• Decorate simply

Bold patterns on large furniture will attract the eye and make the room appear smaller. Consider simple designs or light colors for bedspreads, prints on couches, and curtains. However, adding an artistic focal point to the room will draw attention away from its size. Perhaps invest in a print of a favorite classic piece of art and have it framed nicely, or shop local art fairs for something original. Keep knick-knacks or other decorative items to a minimum and intentionally placed to keep the space from feeling cluttered. Wall or ceiling mounted lighting fixtures may help eliminate lamps in a room, which can take up considerable space. 

• Keep it neat and clutter free

A smaller space is easier to clean – and also easier to get dirty. Taking a few extra minutes a day to pick up will help you breathe better and live happier in small spaces. Go through items in your home often, giving away or selling things you no longer want so that they don’t take up precious space.

SOURCE: DAILY REAL ESTATE NEWS

If you have any questions, feel free to contact James Y. Kuang at (626) 371-5662 or by email -  james.kuang@coldwellbanker.com   
   

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Drop in Rates Ramps Up Mortgage Demand

Mortgage applications – for both refinancings and home purchases – surged nearly 14 percent for the week ending Sept. 18, according to the Mortgage Bankers Association.  The surge follows on the heels of the Federal Reserve’s decision not to raise interest rates last week, which helped push mortgage rates down and entice more borrowers.

Refinance applications rose 18 percent week-to-week, while home purchase applications increased 9 percent. Home purchase applications are now at the highest level since June and are 27 percent higher than the same week one year ago, MBA reports.

"The increase in purchase activity was solely driven by applications for conventional purchase loans, which reached the highest level since June 2013,” says Mike Fratantoni, MBA’s chief economist. “That time period was the so called ‘taper tantrum,’ when mortgage rates picked up significantly following Fed communication to slow the pace of its asset purchases. Overall, the purchase market continues to show strength.”


Mortgage rates moved lower during the week but by the end of the week the average of the 30-year fixed-rate mortgage was unchanged from the previous week at 4.09 percent, MBA reports. MBA notes that mortgage rates were moving lower as of Tuesday, amid a sell-off in the stock market. Rates this week had fallen to the lowest level in four months, MBA reports.

SOURCE: DAILY REAL ESTATE NEWS

If you have any questions, feel free to contact James Y. Kuang at (626) 371-5662 or by email -  james.kuang@coldwellbanker.com   
   

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