Bonjour [EMAIL], La Rentrée: Back on Track with 'Beaucoup' Bits French Property Insider Volume VIII, Issue 33 August 26, 2010 Paris, France http://adrianleeds.com/frenchproperty/insider • Printer Friendly http://www.adrianleeds.com/frenchproperty/insider/textpages/FPI_August_26_2010.txt • Recommend to Friends http://www.adrianleeds.com/frenchproperty/insider/subscribetofpi.html • Don't miss a single issue of French Property Insider! "Whitelist" French Property Insider by adding "fpi@adrianleeds.com" to your address book. ____________________________________ Transfer Currency and Save Money in the Process... with Moneycorp When you're buying a holiday home or investment property overseas, trading your currency can be a crucial cost factor. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group, LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France or anytime you transfer from one currency to another. For more information, visit: http://frenchproperty/loan/moneycorpconvertor.html __________________________________ Bonjour French Property Insider Subscriber, I'm back from vacation and so are many of our colleagues. Businesses are beginning to come back to life and with them will come new properties for sale and agents re-opening their doors. We don't expect to see much on the market until another couple of weeks have passed, however, one such property landed in my 'inbox' just this morning that is worth considering. Scroll all the way to the bottom to see the description and photos. In addition, we have a bit of news for you today -- on the currency market from our currency specialist partners, Moneycorp; news from the Chambre de Notaires regarding tax incentives that are soon to be eliminated(!) and a reminder about the scams out there ready to take your money and run. Read on... __________________________________ Currency Update from Moneycorp, August 25, 2010 Uncertainty of the British Sterling still rules... According to the Bank of England's 'Broad effective exchange rate index' the last three months have seen the pound strengthen from 77.92 to 82.04, about 5.25%. In the same time, it has risen 10 cents against the U.S. dollar, six cents against the euro and a proportionally similar amount against the Australian, New Zealand and Canadian dollars. It is not entirely a coincidence that its recovery followed the election of a coalition government promising to balance the budget within five years. Investors could not give a fig for party politics. They care not whether the ruling party's colors are red, blue, yellow or purple. They do care, though, whether it can match its spending to its tax revenues. The more a government borrows, in proportion to the size of its economy, the more they fret. They are much less worried today than they were before George Osborne delivered his 'emergency' budget on 22 June. It will hurt British residents and taxpayers in their purses and in their wallets but it has done wonders for the pound. Sterling is once again a credible currency. Every economy, every currency, has its problems. America was hauling the world out of recession at the beginning of the year, but growth there has slowed and the dollar has suffered. The euro is struggling with the cost of rescuing Greece from its debt burden. Australia is threatened with a house price bubble that keeps inflating. They all have to contend with the uncertain trade-off between inflationary stimulus and deflationary austerity. Neither would be helpful if taken to extremes. The pound has been rehabilitated by the new government's budget-balancing efforts. That is not to say it would still look good if those moves tipped the economy back into recession. Uncertainty still rules. For more information about Moneycorp services, visit http://adrianleeds.com/frenchproperty/loan/moneycorpconvertor.html __________________________________ Reminder from the Chambre de Notaires de Paris: Loan Interest Deductions will Change or Be Eliminated... The Government has announced a change in tax incentives for home ownership. The tax credit on the loan interest related to the acquisition of a principal residence will be eliminated in 2011. The tax credit remains applicable to conditions described below as it has not yet been officially abolished. When people take out a loan for the acquisition or construction of their primary residence with a financial institution, they receive a tax credit equal to: For existing homes: 40% of the amount of loan interest the first year of repayment and 20% of that amount for four years. For new homes that meet standard BBC 2005 (low-energy building), a standard higher than that imposed by the legislation in force (RT 2005): 40% for the first seven years. For other new housing if they are acquired or constructed: 30% the first year and 15% four years. The period during which the borrower can benefit from the tax credit is calculated from date to date on the availability of funds. If this is the construction of a dwelling or acquisition VEFA (sales with a future completion date), the borrower may request that either the relevant date of completion or delivery of housing is a starting point of the period. The interests are taken into account in the limit of 3,750€ for a single person (7,500€ for a disabled person), 7500€ for a married or PACS (15,000€ if the spouse is disabled). These amounts are increased by 500€ per dependent. The increase is only 250€ per parent for a child custody case alternately. Borrowing costs (file, guarantees...) and insurance are not taken into account in calculating the tax credit. Beware, there is a global cap on tax benefits under the Income Tax regulations. For assistance with your French accounting and tax needs, we recommend: Atisse Contact: Sébastien Bacoup http://www.atisse.com Email: mailto:sbacoup@atisse.com?subject=Referral_from_Adrian_Leeds 7 rue du Colonel Moll 75017 Paris Phone: +33 (0) 1 45 72 26 62 Fax: +33 (0) 1 45 72 18 51 __________________________________ The Keys are in the Mail. Really? Beware of Paris Apartment Rental Scams... Just this week one of our readers reported following up on an apartment advertised on CraigsList.com that turned out to be a 'scam' (http://paris.en.craigslist.org/vac/1907419496.html) -- look closely and you'll see that the offered rate and quality of the apartment are just too good to be true! There are still many such bogus properties being advertised that will gladly take your money and run, never to fulfill their promises. This past year our own Parler Paris Apartments was a victim to this kind of fraudulent activity. In response, we reported the perpetrators and posted this article: http://wwww.adrianleeds.com/parlerparis/issues/pparis31-3-10.html Please be reminded to do business only with legitimate firms or individuals you can trust. For rental apartments you can trust, visit http://www.adrianleeds.com/parlerparis/apartments/ __________________________________ Studio Apartment in Le Marais for Sale: Rue des Mauvais Garçons, Place du Bourg Tibourg 4th Arrondissement, Métro Hôtel de Ville, 24 square meters, 1st floor, no elevator, on tree-lined Place du Bourg Tibourg with eastern exposure, 2 large windows, high ceilings, to be renovated. Asking Price 220,500€ plus Finders Fee This apartment will not last more than a few hours! Seriously interested parties who are prepared to make a full price offer immediately can contact Mary Ellen at mailto:maryellen@adrianleeds.com?cc=adrian@adrianleeds.com&subject=Studio_Bourg_Tibourg __________________________________ A bientôt, Adrian Leeds Editor, French Property Insider Email: mailto:fpi@adrianleeds.com P.S. During the upcoming West Coast five-city tour "Living the Dream to Live in France," I'll be available for private consultations to discuss your individual needs. Scroll down for more information or visit http://www.frenchpropertyconference.com _________________________________ "Living the Dream to Live in France" -- a 2010 Speaking Tour with Adrian Leeds NEW! Los Angeles September 28, 2010 Perhaps you dream of owning property in France, but don’t know how to go about doing it. 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. Following the presentation, you'll have an opportunity to ask questions related to the topics and a cocktail reception will follow. And we've just added Los Angeles to the tour – see below for more details. 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 http://www.faccpnw.org PORTLAND Saturday, September 25, 2010 Co-Hosted by the French-American Chamber of Commerce of the Pacific Northwest http://www.faccpnw.org and the Alliance Française de Portland http://www.afportland.org LOS ANGELES Tuesday, September 28, 2010 Fraiche, 312 Wilshire Blvd., Santa Monica, CA 90401 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 ________________________________ Be a FREE Guest at "Le Palace des Vosges" The luxurious two bedroom fractional ownership apartment in the Place des Vosges, known as "Le Palace des Vosges," is available for immediate rental when the owners aren't occupying it! And even better than that...should you decide to purchase a share, your rental fees (up to one week's worth) will be deducted from your share price! That makes your week at Le Palace des Vosges absolutely FREE! Book your stay now before the shares get sold out!...and then get it FREE when you become an owner yourself! For complete information including rates, visit http://www.adrianleeds.com/parlerparis/apartments/rentals/palace_des_vosges.html and to book your stay, use the online Request Form or contact mailto:apartments@adrianleeds.com __________________________________ Book your personal consultation with Adrian Leeds. French Property Consultation Your Complete Solution to a New Home in France.. Let the Adrian Leeds Group guide you through the process with ease and peace of mind... to have your very own pied-à-terre in Paris or home in the French countryside. Visit http://adrianleeds.com/frenchproperty/consultation/ or email mailto:info@adrianleeds.com __________________________________ Own a Piece of Paris. Fractional ownership is the hottest way to own your piece of Paris simply, easily and inexpensively! Here is just one of the offerings available through French Property Fractional: L’Abbaye Lutèce - A two bedroom, two bath ground floor apartment on a medieval courtyard next to Notre Dame http://www.adrianleeds.com/frenchproperty/fractional/pfo/labbaye_lutece.html For more information on this and other fractional ownership properties now available or to learn how you can design your own property, visit French Property Fractional. http://www.adrianleeds.com/frenchproperty/fractional/ __________________________________ Helpful Conversions for Real Estate 1 square meter = 10.7639104 square feet 1 hectare = 2.4710538 acres For more conversions, refer to: http://www.onlineconversion.com/ __________________________________ Practice Your French...or English! Open All Summer Long. Parler Parlor French-English Conversation Group http://www.parlerparlor.com Practice speaking French and English. Make friends, discuss interesting topics, learn about other cultures, progress in understanding and speaking, naturally and easily. Meets three times a week -- come as often as you like! For further details, visit Parler Parlor at: http://www.parlerparlor.com ____________________________________ Subscribe to the Parler Paris Nouvellettre®...It's twice-weekly and it's FREE! Visit http://www.adrianleeds.com/parlerparis/subscribe.html to learn more and subscribe. ____________________________________ Copyright 2011, Adrian Leeds® Adrian Leeds Group, LLC, www.adrianleeds.com