The Real Estate Buyers Agents Association of Australia says in the current strong sales market it is important to keep your emotions in check.

Their top five smart tips for buying in a rising market include:

* Get your finance pre-approved so you know your limits you show potential sellers that you are serious about buying.

* Don't carelessly speed up the research and buying process to take advantage of a perceived deal.

* Avoid low-ball offers for a property, as this will result in you not being taken seriously.

* Act decisively when you know it's the right property and have done your research, or others are likely to jump ahead of you.

* Avoid asking for favours or adding complications to the deal. That may work in a falling market, but not a rising one.

And they add just because property prices are rising doesn't mean you're going to be left behind.

I'd add make sure you are capable of the long hold as many of these extraordinary sale prices will be hard to match on the inevitiable dip.

Article Source: http://www.propertyobserver.com.au/buyers-agents/five-smart-tips-for-buying-in-boomtime-conditions

La Jolla estate of San Diego newspaper family goes on the market for $28 million; Hamptons home sells for $21 million; Louis Vuitton CEO Michael Burke buys in Miami Beach for $11.7 million.

A mansion in Paris' fashionable Sixth Arrondissement has been listed for $47.4 million (http://online.wsj.com/news/articles/SB10001424052702304632204579337702999096182), according to listing agent Xavier Attal of Immo Best International.

The four-story house is about 7,800 square feet with 3,700 square feet of outdoor space, including a garden and several terraces. It has nine bedrooms and six bathrooms.

While the décor is contemporary, Mr. Attal said, original details remain. Located on Rue Vavin, the house is about 20 yards from the Luxembourg Gardens in Saint-Germain-des-Prés.

Built in the 19th century, the building was later divided into four apartments. The current owners bought each one and reunified the space, Mr. Attal said.

Mr. Attal declined to identify the owners, but said they purchased the home about 20 years ago and renovated it in 2011, adding an elevator and a sculptural wood-and-iron staircase.

The owners are selling because their children have moved out of the house, he said, and they no longer need so much space.

With its historic character and high-end shopping, the Sixth Arrondissement has the most expensive residential real estate in Paris.

The area around the Luxembourg Gardens in particular "is the most exclusive real estate in Paris," said Mr. Attal.

La Jolla Estate of San Diego Newspaper Family Is Placed on the Market for $28 Million

The hilltop estate of a prominent San Diego newspaper family has hit the market for $28 million, according to listing agent Greg Noonan of Berkshire Hathaway Home Services.

Called "Fox Hill," the 8¼-acre La Jolla estate was the home of the Copley family, longtime owners of the San Diego Union-Tribune. Their company, the Copley Press, at one time owned about 15 newspapers in California and in the Midwest, but publisher David Copley sold most of the company's assets before his death in 2012. Fox Hill is being sold by his estate, which is held by the David C. Copley Trust, according to trustee Dean Dwyer, who is president of the Copley Press.

The 14,000-square-foot, seven bedroom, 9½-bathroom French Country manor is located on Country Club Drive on a hill overlooking the ocean, Mr. Noonan said. It has a gym, a guesthouse, a courtyard with a pool and a pool house. The grounds include a large circular motor court and two garages with space for 12 cars, as well as an orchard, vegetable and flower gardens and wooded paths.

The house was built in the 1950s by Union-Tribune publisher James Copley, Mr. Noonan said. After James and his wife, Helen, died, David, their son, restored the home and added a new wing in 2012.

The Copley Press owns 24 acres of land adjacent to Fox Hill, Mr. Dwyer said. That acreage is in the process of being subdivided for potential development and isn't listed for sale, but the company would consider selling it. It had been listed in 2009 at $22 million, then taken off the market, he said.

La Jolla has few large residential parcels, Mr. Noonan said, adding that if someone were to buy Fox Hill and the adjoining 24 acres, the result would be the largest residential parcel in La Jolla.

A Newly Built, Nine-Bedroom Hamptons Home on About 4 Acres Sells for $21 Million

A newly built Hamptons home has sold for $21 million, according to the builder, Michael Davis of Michael Davis Design & Construction.

The shingle-style home, located on Parsonage Lane in Sagaponack, had been listed with Terry Cohen and Diane Saatchi of Saunders for $23 million, Mr. Davis said. The home was listed in March, he said, and closed in December.

The house has nine bedrooms, 10 full bathrooms and three half baths. It measures about 8,400 square feet, plus a finished 3,900-square-foot lower level containing a gym, sauna and steam room, home theater and wine room.

The home has wide-plank wood floors salvaged from old barns and limestone fireplaces imported from England in the kitchen, living room and family room. There's a rooftop observation deck, bluestone terraces, a built-in barbecue and a covered porch with a fireplace. On the grounds, there's a tennis court, a saltwater pool and a pool house outfitted with a kitchenette, rec room, sauna, steam room and laundry.

The property, which is just under 4 acres, was formerly a farm, Mr. Davis said. He purchased it in 2010 for $5.65 million and moved a small, older home on the property to another location before beginning to build this house.

Mr. Davis said he was attracted to the site because of its size-most parcels in the area are about 2 acres.

"It's rare to have a 4-acre lot," he said. "The appeal was to make an estate."
Mr. Davis declined to disclose the identity of the buyer, but said the purchasers were a couple with grown children.

Louis Vuitton CEO Michael Burke Buys in Miami Beach for $11.7 Million

Michael Burke, chairman and chief executive of the fashion house Louis Vuitton, closed this week on an $11.7 million home on Allison Island in Miami Beach, according to listing agent Kevin Tomlinson of One Sotheby's International Realty.

With a private dock, pool, guesthouse and tennis court, the 1-acre property was listed about six months ago for $13 million, Mr. Tomlinson said. Near the tip of Allison Island, the waterfront property has views of nearby La Gorce Island.

Mr. Burke, who was represented by David Lombardi of Lombardi Properties, plans to build a new home on the site, Mr. Lombardi said. The existing house is already in the process of being demolished. Mr. Burke declined to comment.

The deal is the highest residential sale price to date on Allison Island, a gated community, Mr. Tomlinson said. Home prices there have traditionally been less expensive than areas such as Star Island and North Bay Road, Mr. Tomlinson said, "but with land at such a premium, Allison Island has been surging."

Mr. Lombardi said the property was attractive because it has about 200 feet of waterfront, which is larger than most lots have.

The sellers, Frank and Phyllis Bramson, had lived there for more than 35 years. Mr. Bramson, a retired general contractor and real-estate investor, said he and his wife are downsizing now that their children are grown.

The existing house on the site was built in 1962, Mr. Bramson said, and the idea to demolish it was his.

He had started the process before the property was sold. "If I hadn't torn it down, somebody else would have," he said.

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The year 2013 was a year of survival for the real estate sector, but expectations are now high among developers and analysts. The industry is pinning hopes on a mid-year turnaround after the General Elections, it is not likely to materialize given the time lag for policy implementation. So how would 2014 pan out for realty? The first three quarters would see much of the problems of last year persisting, before showing some signs of change. Few experts believe that prices in several locations will go northward. That would be constraints since the problems of the sector remain unsolved, and policies have made no substantial impact, and those on the cards may not be enough to give the required momentum.

Source:
http://www.mercurynews.com/los-gatos/ci_24502807/more-funding-is-now-available-fight-real-estate

Upset with the rise in property crimes, and concerned about desperate home-owners--especially seniors--being victimized by scams, officials from the Santa Clara County District Attorney's Office said last week that they are taking a more active approach to real estate fraud and now have the resources to fight these crimes.

Deputy district attorneys Kim Connors and Mike Fitzsimmons asked real estate agents for their help in fighting real estate fraud.

Realtors are in the trenches and know what is happening to homeowners. "You are our eyes and ears," said Connors.

Real estate fraud has been on the rise since the mortgage meltdown. "Desperate homeowners are ripe to be victims of loan modification and other scams," said Fitzsimmons.

The good news is the district attorney's office now has more funds to fight property crime issues. Fitzsimmons explained financing to fight real estate fraud comes from recording fees. Before this year, $3 from each recording fee went to the unit; this year, $10 will go to toward real estate fraud prosecution.

The increased funding has allowed the office to beef up its real estate fraud unit with four prosecutors, three full-time paralegals and seven investigators. One paralegal is solely engaged in reviewing changes in titles, sending out letters to homeowners verifying authenticity, and letters to homeowners who have received notices of default, with information on what they can do and victim prevention tips.

"We have a lot more money to work with and will be hiring more attorneys and investigators. If you see suspicious activity, report it to us. With new funding, we now have the ability and higher capacity to deal with these crimes," said Fitzsimmons.

Connors, who is a Department of Aging and Adult Services financial abuse specialist, said elder fraud is high on the list of crimes that are occurring more frequently and it is very important that crimes, or suspicions of crimes being committed, be reported immediately. She explained that once homeowners are victimized and a new buyer is involved, "it is very hard to put someone back to where they were because the law protects innocent third party buyers."

The office is seeing many cases involving rental scams, including rental of rooms in a property, and Ponzi schemes involving the financing, sale and transfer of property. Crimes involving sovereign citizens are also on the rise.

Sovereign citizens do not believe the law applies to them. Some have been caught usurping the role of agents and other officials. They file liens and notices seeking to wipe out mortgages and cancel foreclosures, then charge homeowners for their services, but the documents are fake.

They name themselves as trustees, convince financially strapped homeowners to deed the property and make payments to them, with the promise that after a few years they would deed the property back. In the meantime, these criminals strip the property of all its equity, or sell the property to someone else. Some 574 homeowners have been contacted by these criminals and crimes have resulted in a loss of as much as $94 million.

Fitzsimmons said, fortunately, real estate is ready-made for creating a case because documents create a paper trail for good evidence, but Connors noted an investigation can take time, and while the district attorney's office can prosecute, it does not have the authority to correct title or evict residents. This is why reporting suspicious activity immediately is critical.

"Don't hesitate to contact us. Do not be the easy house. If you think something it not right, report it," said Connors.

For questions, or to report a crime or suspicious activity, contact the Real Estate Fraud Unit at 408.792.2818.

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Dorota Dyman & Associates Real Estate

WASHINGTON - Why have many of the local housing markets that were hit hardest during the bust - especially in California - bounced back so vigorously and quickly, with prices close to or exceeding where they were in 2005 and 2006?

And why have many others along the East Coast and in the Midwest had a slower move toward recovery, with sluggish sales and gradual increases in values?

Though multiple economic factors are at work, appraisal-industry experts believe they have isolated a crucial and perhaps surprising answer: Real-estate markets rebound much faster in areas where state law permits foreclosures to proceed quickly, moving homes with defaulted loans into new owners' hands expeditiously, rather than allowing them to sit and deteriorate, tied up in court procedures for years.

Prices of foreclosed homes in such areas typically are depressed and negatively affect values of neighboring properties, but they don't remain so for lengthy periods because investors and other buyers swoop in and return them to residential use rapidly.

By contrast, in states where laws allow large numbers of homes in the process of foreclosure to remain in legal limbo, often empty and unsold, home-price recoveries are hindered because lenders are prevented from recovering and reselling the units to buyers who'll fix them up and add value.

Pro Teck Valuation Services, a national appraisal firm based in Waltham, Mass., recently completed research in 30 major metropolitan areas that dramatically illustrates the point.

All the fastest-rebounding markets in October - those with strong sales, price increases and low inventories of unsold houses - were located in so-called nonjudicial states, where foreclosures can proceed without the intervention of courts.

All the worst-performing markets - where prices and sales have been less robust and there are excessive numbers of houses available but unsold - were located in judicial states, where post-default proceedings can stall foreclosure completions for two to three years or even more in some cases.

Among the best-performing areas were California markets such as Los Angeles and San Diego. California is a nonjudicial state. So is Washington state.

Among the worst performers were Florida markets such as Tampa and Fort Myers, as well as parts of Illinois and Wisconsin. All of these are judicial states.

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Domestic high-end baijiu (white liquor) producer Kweichow Moutai Co Ltd announced Tuesday that it will invest 8.79 million euros ($11.76 million) to buy real estate property in Paris to help further its business in Europe.

This is part of Moutai's globalization strategy, Yang Qing­shan, executive president of the China Brand Strategy Association, told the Global Times Tuesday.

Currently, Moutai has a wide market including Asia, Europe, America, Oceania and South Africa, China Securities Journal reported Tuesday, noting that with such a wide global sales network, Moutai exported almost 1,000 tons of baijiu in 2012, accounting for only 4 percent of the total output of 24,999 tons.

These overseas exports brought in revenue of $175 million, an increase of 60 percent from 2011.

Centerville Real Estate Developers Guilty of Fraud

Hong Kong-based Silver Base Group Holdings Ltd obtained the distribution rights of Moutai in Poland, Hungary, the Czech Republic, Slovakia and Bulgaria starting from January 1, 2013, Silver Base Group announced on its website on March 11.

However, Moutai's revenue from markets outside of the Chinese mainland is still quite small.

The revenue from overseas markets for the first half of 2013 is 382 million yuan ($62.72 million), only 2.71 percent of its total revenue, according to Moutai's mid-year report released on August 31 on the website of the Shanghai Stock Exchange.

The majority of exported Moutai baijiu is bought by Chinese who work in or have immigrated to foreign countries, Yang said, noting that Moutai is confronted with a great challenge if the company wants to promote its baijiu products to non-Chinese customers.

Unlike other liquor that Western consumers are familiar with such as vodka, Moutai baijiu is much stronger, Yang said, noting each 100 milliliters (ml) of vodka contains about 40 ml alcohol, but each 100 ml of Moutai baijiu includes about 50 ml alcohol.

In addition to higher alcohol content, due to different brewing technology, Moutai baijiu has a unique taste which new customers will need time to get used to, Yang said.

Although it is hard for Moutai to attract non-Chinese customers, going global is an inevitable choice for enterprises, Ma Wenfeng, an analyst with Beijing Orient Agribusiness Consultant Ltd, told the Global Times Tuesday.

The sluggish domestic market has also encouraged liquor producers to explore new markets, Yang said, noting Moutai is not the only one.

Tang Qiao, chairman of Wuliangye Group, also a baijiu producer, will go to the UK from November 19 to 23 and meet with Diageo, according to media reports. But both sides denied specific cooperation plans, according to media reports.

The UK liquor producer Diageo acquired Chinese baijiu producer Sichuan Swellfun Co in 2012.

China's liquor market, especially the high-end sector, has been cooling down since the central government launched an anti-extravagance campaign early this year.

The total revenue of 13 listed Chinese baijiu enterprises in the first three quarters dropped 3.17 percent year-on-year, and the total net profit decreased 6.33 percent year-on-year, news portal chinanews.com reported Monday, noting it is the first time the industry has experienced falling profits in nine years.

In addition to baijiu, Moutai is also trying to develop its wine brand Moutai Wine, which Moutai set up a joint venture in 2002 to produce.

Moutai has bought French wine estates including Chateau Dallau in 2012 and Chateau Loudenne in May this year, Moutai's website said on May 24.

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