Le Temple des Rosiers...A Newly Renovated Luxury Apartment

Those Who Snooze Lose

French Property Insider
Volume VIII, Issue 26
July 1, 2010
Paris, France
adrianleeds.com/frenchproperty/insider

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"Living the Dream to Live in France" --
a 2010 Speaking Tour with Adrian Leeds

Perhaps you dream of owning property in France, but don’t know how to go about doing it. The system is very different in France from the U.S. and littered with ‘pitfalls,’ but is very "doable" given the right information and advice.

During a two-hour PowerPoint presentation, Adrian Leeds, Director of the Adrian Leeds Group, will provide a basis from which you can accomplish your goals to invest in real estate in Paris or other areas of France. Adrian will give an overview of the property market in France and a description of what is involved in order to make a viable investment that will provide both pleasure and reward. She will share her experience and knowledge in a way that will enable a would-be investor to make the right decisions to fulfill his own personal dream. Following the presentation, you'll have an opportunity to ask questions related to the topics and a cocktail reception will follow.

SAN FRANCISCO
Wednesday, September 22, 2010
Hosted by the Alliance Française San Francisco
http://www.afsf.com

 

SEATTLE
Thursday, September 23, 2010
Hosted by the French-American Chamber of Commerce
of the Pacific Northwest

PORTLAND
Co-Hosted by the French-American Chamber of Commerce of the Pacific Northwest
and the Alliance Française de Portland

PLUS!...Book Your Private Consultation with Adrian Leeds while she's visiting your town.

For more information and to reserve your place or consultation, visit http://www.frenchpropertyconference.com

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Bonjour French Property Insider Subscriber,

The price of property and the volume of sales are virtually exploding in Paris and beyond. The market statistics for February, March and April were just released two days ago by the Chambre de Notaires de Paris.

Sales reached 40,200 transactions during the three-month period in the Ile-de-France, an increase of 89% compared to the same period in 2009. It's an enormous jump, but then again, sales in 2009 were uncharacteristically weak. The power of the rebound, however, is undeniable as the number of sales from February to April 2010 progressed from 19% as compared to 6% the same period in 2007. The phenomenon of the strong recovery profits all the market segments. Sales of resale apartments over the period (February through April 2010) increased by 85% compared to the same period of 2009 and sales of homes increased by 101%.

For the whole of the Ile-de-France, prices have increased 3,3% during February through April 2010 over February through April 2009. Most of the increase can be attributed to Paris where prices increased 5,3% in April 2010 compared to 2,3% in March.

To download the entire report (in French), click here.

With trends like this, you can imagine that May and June have seen similar increases and that the trend will continue until the supply and demand reach more of a balance. That won't happen until prices reach a level where sellers will have profit potential, so there is no doubt that we will see an increase in values.

If you are a property owner, this is good news. If you are a potential buyer, it means you need to get into the market as quickly as you can. That being said, there is still the problem of so little product on the market. For every property, there are at least three ready and willing buyers at asking price.

Let me remind you that luckily in France, sellers are morally obligated to accept asking price. This does not prevent them, however, from choosing the buyer who carries the least risk -- a buyer with no contingency for a loan, for example. Cash buyers willing to sign quickly take preference over those who show even a hint of insecurity. So, it's best if you have your pre-approval for a mortgage in place or ready cash only a wire transfer away.

Just this past week, simply because a buyer showed signs of possible withdrawal of an offer made and accepted on a very important property, other buyers waited in the background with baited breath, ready to pounce at the slightest movement. Even though another buyer of ours was ready to take the first buyer's place, the agency accepted the offer of another, leaving our buyer with 'an empty bag.' Unfair? Yes. But in today's market, it's a bit like 'all fair's in love and war.'

It is possible to "buy forward" using a currency broker, such as Moneycorp (our preferred specialist). Forward contracts fix an exchange rate at which you buy or sell currency for delivery at a later date (up to two years). Forward contracts protect against adverse currency movements and can be used to lock into favorable exchange rates. Now's a good time to take advantage of this service while dollar-euro rates are favorable. See moneycorp for more information and to open your account with Moneycorp so you're ready to make a move when the time comes to make a purchase...quickly.

If you are considering an investment in property in the near future, our recommendation is to make it sooner than later, as there is no doubt it will cost you more should you hesitate. Those who 'snooze,' 'lose.'

A bientôt,

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Copyright 2011, Adrian Leeds®
Adrian Leeds Group, LLC, www.adrianleeds.com