Steve and Sherry

Colorado Springs Real Estate

Archive for December, 2011

Capital Park

The capital's parks – a place for relaxation or … Today, when the urbanization of cities has reached its "peak", all the more acute is the problem of meeting the needs of the population in the cultural and quality rest in a specially created for the green areas, city parks. Now the main task in the park network capital is to increase the effectiveness of parks. One way to solve it is to develop innovative projects creation of park facilities, which have greatly increased opportunities for social and cultural impact on people, provide a variety of typical structure of modern parks, respectively, the best world standards and practices of national park building taking into account the mentality and traditions of the Crimean people. The decree of President of Ukraine "On Priority Measures for the enrichment and development of culture and spirituality Ukrainian people, "one-orientated fields defined by the development of urban parks and recreation. which provides that the parks will not only be landscaped oasis town, but will also function as bright, powerful, quickened by a cell culture-lennye, making a significant contribution to shaping climate for Social and leisure activities to ensure all segments of the population – of children and adolescents to the most senior citizens and the capital State-Tay Simferopol. Property that is used by the city parks, belongs to the communal property of territorial communities of the capital and is allocated to it for operational management. Parks have the right with the consent of the owner or his agent established in the legislation-after alienate, lease, transfer, temporary bezoplatnoe use or the loan is written off fixed to their property on the right of operative management.

Housing Step

Among the waiting, which have embarked on a housing allowance of up to 1 March 2005, interest in for compensation of housing programs funded and growing as the opportunity provided by this category of citizens, can not wait for the approach of social housing, and use their savings to purchase housing through subsidies, or installment payment of social mortgage. This is motivated by the desire to accelerate the solution of the waiting list the housing issue through the use of accumulated funds, instead of having to wait in 15-20 years approach their turn. Only in the west of the capital last year, such programs have chosen 800 families waiting. But compensatory government programs involve a number of limitations. For example, now living areas waiting list are offered in suburban towns – Podolsk Chekhov, Lyubertsy and Mytischi. And the prospect of an apartment from the state in the mass building in the suburbs and not all are satisfied. Waiting list, have taken the housing allowance of up to 1 March 2005, is particularly convenient to participate in the program "Housing move ', because they are able to obtain from the state subsidy for the purchase of an apartment, which is one of the most attractive forms of assistance, and to choose the apartment and area of residence.

The program "Housing move 'will carry an interest-free financing the purchase, fix prices and create favorable conditions for further calculation. Benefits of participation in the program "Housing step" for both categories are waiting in the fact that the program makes it possible to stay profitable, thanks to the accumulated funds for the entire period waiting in the queue for social housing. This allows us today to improve their living conditions and thus be able to better the further accumulation of funds. These funds can be used to participate in one of onerous government programs (for the category 1 waiting list) or a home purchase in installments without% on the program "Housing Step" (both categories). In this case the family is not removed from the housing account and lives in improved conditions, while remaining in the queue for social housing. The program also allows participants to choose the apartment and area of residence. The program "Housing move" offers the opportunity to stay in the waiting normal conditions, while continuing to be on the books in anticipation of social housing. In this program participants over time also have the opportunity to solve their housing problem, thanks to interest-free Financing for the purchase and favorable conditions of residence.

Mortgage Market and World Economic Crisis

Although, if you delve deeper into this question, it is clear that in Russia, the crisis affected the real estate market is not so much. The global financial crisis is affecting mostly in the mortgage market, although it also affected the financial aspect some developed countries. The money that was invested in the Russian housing market, previously had two sources – foreign investment and the investment of Russian citizens. With the onset of the crisis the share of foreign investors, finance significantly decreased, which is understandable. But without looking at it, remained the share of Russian investors, who also is big enough.

Therefore, experts say, changes in the property market will be, but not too large. In the field of buying and selling of housing change are already visible – housing is cheaper. However, people do not hurry to invest in real estate finance, as the unknown future price developments in the housing market. As for the rental market, there is, as analysts say that major changes should not be. Major changes in the market rent has never happen in the short term, in addition, rent is always in demand. So that the finances spent in this area will serve as a good investment, even compared to the general confusion, which was created by the global economic crisis. It can be seen and reduced demand for real estate, which is due to the fact that many buyers are waiting for t greater price reductions, which resulted in a financial crisis. Experience shows that after a significant drop in the price level on real estate, no matter what was the cause of this, then the price will still begin to climb.

And probably also occur in this time, the only question of time. Therefore, some investors are holding back in anticipation of finance even lower prices. But by itself induces reduced demand both sellers and lessors of real estate even more to lower prices. But reduction still small – 3-7% compared to last summer. However, despite these trends, the collapse of the real estate market is not expected. Indeed, about 60% of operations with respect to sale and rent – this is alternative transaction of private owners. And people consistently strive to improve their living conditions. But if the drop in prices will be as stable dynamics, it is projected to cost could fall by 8-12% until the end year, a year later% reduction can reach up to 20-25%. But again, you can not do much long-term forecasts.

Mortgage Applications

1) Appeal to the Bank for obtaining advice on the current mortgage lending programs. During the initial consultation of a specialist mortgage covers the major conditions for granting mortgage, mortgage stages of the credit transaction, the requirements of the Bank to the subject of collateral (house, purchased by credit), will hold a preliminary calculation of parameters mortgage (Credit limits, the monthly annuity payment, the equity needed to pay for a down payment for the purchased apartment and additional costs related to the mortgage loan transaction). 2) Filling the application form for a mortgage and collect the documents necessary to obtain credit. List of documents required for consideration of Application Form for mortgage 3) Review by the Bank loan application and a decision on lending. 4) Select the apartment, checking the documents of title, appraisal of market value (in that case, the Bank of credits). At this stage, the client searches for an apartment that meets his needs and requirements of the Bank.

The Bank may advise the client contact on the flats in the real estate companies, partners of the bank in the mortgage lending program. After a positive test result documents in the apartment by the Bank and the insurance company, the customer is evaluating the market value of apartments in one of the appraisers recommended by the Bank. 5) Personal and property insurance. Client at its own expense until the conclusion of contracts on mortgage credit transaction must maintain insurance: – loss of life and disability – apartments from damage and injury – loss of property rights for the purchased apartment – the insurance companies recommended by the Bank. 6) Carrying out a mortgage loan transaction.

The signing of the loan contract. Signing the agreement of joint deposit box rental. Settlement of mortgage credit transaction. Signature and notarization of the contract purchase of an apartment due to credit funds. Signing of Mortgage State registration of mortgage loan transaction. The Bank provides for the possibility of settlement of the mortgage transaction as a non-cash, by transferring funds from an account the buyer (borrower) to the seller, and in the form of cash deposit with the cell. 7) Repayment of the loan. Repayment of a mortgage loan by the borrower in equal monthly (annuity) payments. In the case of early partial repayment of the loan amount is reviewed annuity payment downward.


So, all this mortgage. And all of these loans are mortgages, as as collateral (security) serves real estate acquired or already owned. Why do I need a mortgage? What are its advantages and disadvantages. The main advantage is that the housing problem can be solved now, and quite fast. Can you imagine how many years should be to save money to buy a home? I suggest you an example. Young couple, we assume that they are in 24 years, decided to create a family. Accordingly, the question arises – where to live? With parents? Not really. I want to self-sufficiency and independence.

And the conditions in the father's house is not always possible. Rent an apartment? It is to live in a strange house with a constant caution, but do not ask if I move out tomorrow, and much of the budget will go into the pocket of someone else's uncle. So let us assume that our young couple earns 60,000 rubles a month. How much they can save to accumulate in the housing. I think that no more than 40 000 rubles per month. If you take into account that one-bedroom apartment is 2 million rubles, they have to save about 4 years. And this is the best scenario. And given the constant rise in prices for housing, the accumulation period could last up to 15-20 years.

Again, not the fact that it happens. After all, there is still life. And children should be delivered, and put on his feet, and put on shoes, dress, and go on vacation, and want a car, etc. And spend the whole youth on hoarding and a complete rejection of all the best in the pursuit of elusive dream of own home miserable. Here's a mortgage and gives such a chance. With an income of 60 000 rubles, you can count on a loan sufficient to purchase one-bedroom apartment. And the price is already fixed, because they have already bought it and have it live. Of course, it is necessary to pay each month on the loan. And return not only the principal debt, and interest, but they already have their homes. And to Disadvantages are, what you would pay on a monthly basis. And no matter what. You can not forget, postpone or reschedule the payment. You can not make a part payment. The second negative – it's an overpayment on the loan. Overpayment consists of the interest that accrues during the use of credit. Depending on loan term and interest rate, the overpayment can reach 150% of the loans and even more. Also to be minus mortgage include sufficiently strict requirements of banks to the borrowers. These include requirements for length of service, age, marital status, employment, income, citizenship, credit history, as well as specific requirements for acquiree or bond. Compromise between the conditions and requirements you must have to look for yourself. Now dozens of banks offer different loan programs. If you add up all mortgage loan products the banks, the list is not stretched to several hundred. Choice is which. Of course, you can turn to professional market participants that they have picked up your program. But in any case, the choice is yours. Good luck!