Scoring the Property You Want
Charming Courtyard on Rue Chanoinesse
(FOR SUBSCRIBERS ONLY)
June 12, 2008
Bonjour French Property Insider Subscriber,
I’m writing to you from New York City. On the plane over, I watched one of those dumb films (B movies the airlines show to keep us sedated), which took place in the suburbs of New York. One line in the film was, "Luckily we’re New Yorkers," meaning "We can handle it."
I got a chuckle out of that, since here I am in the role of "client" with an "agent" who is scouring lower Manhattan to find us an apartment within the next six days of being here. It’s the exact role reversal we had with our clients, Mary Schiller and Jeff Ballinger, residents of the Bronx, who came to Paris for six short days to find an apartment.
With the help of our Search Consultant, Mary Ellen Gallagher, who calls herself a "Search Engine," they did find an apartment and now just two days after signing the "Acte de Vente," embarked on ‘starring’ in a new episode of House Hunters International. Three days of filming with the Pie Town Productions crew from Los Angeles, was all they needed to feel really confident about their purchase and new adventure. Read all about it in today’s issue of FPI!
The reason I am here is to find an apartment for my daughter, Erica. After six months of preparing an application to present to the co-op board for an apartment we had secured last fall, the board denied our purchase (with no disclosure of why). Then we found another one that we loved (a ‘condo’) and made an offer on it $50,000 over asking price with no contingencies. Lost again, this time to 15 offers, many well over the asking price and higher than our offer.
As a result of this experience and others we’ve encountered recently in Paris, today’s issue focuses on the art of negotiation and how to get the property you want! Then later today, we’ll be pounding the pavement of New York desperately seeking a "pied-à-terre" in New York she can call her own.
Next week I’ll be reporting on the experience, of course!
If you’re considering offering a property you own to student renters, be sure to read Part II of "What You Need to Know About Renting Your Furnished Apartment" and don’t miss today’s article from CNN about the Paris Jewish Quarter’s experience of serious growth.
And last minute news is that another article about Fractional Ownership appeared in this week’s Nouvel Observateur quoting me and others in the industry. Have a read in French at http://parisobs.nouvelobs.com/hebdo
Editor, French Property Insider
P.S. Be sure to read all about our last and most recent Parler Paris Après Midi gathering by visiting http://www.adrianleeds.com/parlerparis/apresmidi.html.
P.P.S. Register now for the Living and Investing in France Real Estate Conference in San Francisco July 26-27! Click here now! http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
Volume VI, Issue 24, June 12, 2008
* Negotiating for the Perfect Paris Property
* House Hunters International Sneak Peek
* French Property Consultation on House Hunters International
* The ABCs of Renting to Students
* French Property Seekers Look Inland
* The Changing Times in Paris’ Jewish Quarter
* French Property Owners Missing Rental Potential
* A Château to Call Home
* Fractional Ownership By Design
* Upcoming Living and Investing in France Real Estate Conferences
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: July 8, 2008
* Hot Property Picks: Rosy Residences in the Fourth
* On the Auction Block: June 24 and July 1, 2008
* Leasebacks: Jardins d’Arvor, France, Brittany / Normandy, Benodet
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — L’Aubergine
How to Score the Property You Want: The Art of Negotiation
By Adrian Leeds
Negotiating the purchase of a property in France has little relation to what you may have experienced in the U.S. or other Anglo-Saxon culture. So, it’s best to remove all preconceived notions about the strategy before proceeding on the French property market.
Some very basic understandings of the system will help guide you through the process to a successful negotiation.
First, in France the seller is MORALLY obligated to accept asking price. This means it’s not legally required, but should a potential buyer make an offer of full asking price advertised by the seller either with or without an agent, the seller has a moral obligation to accept it.
This prevents ‘bidding wars,’ so common Stateside and in other parts of the world. It also encourages sellers to price their properties correctly with the current market values and in effect, deterring inflated markets and "bubbles" which could "burst" at some point.
I experienced this personally myself last week in negotiation on an apartment in New York for my daughter. The agent suggested offering $50,000 over the asking price (!) with no contingencies, as it appeared it was a very ‘hot’ property — and in the end, there were 15 offers, many of which much higher. Naturally, we were not the lucky winners. The seller clearly wins big, but I wondered if the strategy was to ‘under price’ the property just to incite a bidding war!
One could see how if the property sold for much higher than the normal market value, it would encourage the same with other properties on the market at the time and therefore create the "bubble" we all fear.
Property in France is offered for sale including the agency commissions, if any. Agency commissions range from as little as 5% (Paris) to as much as 10% (in the provinces). Properties for sale by owners are not necessarily less expensive than those offered by agencies, as they would be priced based on current market values, and the sellers often make an effort themselves in the hope of ‘saving’ the commission and reaping the benefits themselves.
Sellers normally allow only about 5% negotiating room off the asking price. This leads to less ‘haggling’ and again, keeps the market under- inflated. If they were to price a property too high and not be able to sell it within a reasonable amount of time, the seller would risk turning the property into an ‘albatross’ and would be obliged to take it off the market for a period of time before offering it again.
Negotiating a price is an informal process. It’s best if it’s done in writing, but that’s not absolutely necessary. Securing the property is not achieved until the signing of the first formal document, a "Promesse de Vente" or "Compromis de Vente." And even then, the buyer has seven days from that date in which to retract the purchase with no penalty.
A simple offer in writing might look like this:
To: the agent or seller
Cher Monsieur, Madame,
Veuillez trouver en cette lettre une offre pour la propriété située au (address). L’appartement est de _________(square meters)m2 sur le __________(level) étage avec…__________(cellar or other part).
Je voudrais faire une offre d’Euros __________ (euros) pour l’appartement énuméré ci-dessus.
Cette offre inclut les frais d’agence (if any).
Je veux confirmer que l’appartement est vendu avec:…
(list of all items included in the purchase)
Cette offre est valable jusqu’au ________ (date).
Nous souhaitons également pouvoir consulter les documents relatifs aux récentes Assemblées Générales de copropriété dès que possible, ainsi que l’information concernant la taxe d’habitation, la taxe foncière et des récentes factures EDF, GDF. Si vous avez des questions, n’hésitez pas à contacter notre représentante, __________(name of representative) au ___________(phone number).
Notre notaire s’appelle ___________(name and address of Notaire).
Je vous prie de croire, Cher Monsieur, à l’expression de mes salutations distinguées.
__________Name of Buyer
__________Signature of Buyer
Lu et Accepté par Vendeur(s)
__________Name of Seller
__________Signature of Buyer
If the seller agrees, he signs and returns the offer, then proceeds to contact his Notaire to begin the process to sign a formal purchase contract.
If the seller does not agree, he may make a counter offer and each party may counter until an agreement is reached.
Other conditions of the negotiation could include:
* inclusion of furnishings and appliances in the purchase price
* the amount of the deposit to be held in escrow (normally 10%, but often 5% is held, but 10% is obligated in the course of a default)
* contingency in the event of a mortgage ("clause suspensive")
* other requirements the buyer imposes on the seller relative to the specific property
In a recent negotiation in Paris on a very unusual propert
y on the Ile d
e la Cité, the sellers ‘used’ potential buyers to achieve asking price. They ‘pitted’ one buyer against another by continuing to show the property and claiming they had a buyer, but not at asking price. They may have given that buyer "first right of refusal" to match another offer, but this was never divulged. Our client hesitated on making an offer at full asking price by only half a day, but the property was lost to the first offering buyer while other potential buyers were ‘used’ to get him to increase his offer.
In another recent situation, also a very unusual property on the Place des Vosges, the seller did not disclose that the property had never been classified as a residence, but had been classified by the city as an "attic!" One condition of the purchase will be for the seller to have the classification changed so that our client, the buyer, will be making a purchase free and clear of any incumbrances.
Remember that the agents work for the seller, not the buyer! They can be very helpful in determining fair offers, ones that the seller is likely to accept, but the higher the price offered, the more they achieve in commissions. We view them as necessary to the process and more often than not, they behave as professionals and make the process easier, but still, they are to be treated with some skepticism.
If you have a Property Consultant working for you, whose only interest is yours, than you will have the just protection you deserve and can more effectively negotiate with complete peace of mind that you’re doing the best you can to obtain the property you want.
A Camera Eye on the Hunt for a Paris
An Excerpt from Parler Paris
By Adrian Leeds
Monday, June 9, 2008
In the chaotic midst of the annual "Brocante de Printemps de la rue de Bretagne" (Spring Rummage Sale on rue de Bretagne), the three-man Los Angeles-based crew landed Wednesday to film a new episode based in Paris for HGTV’s House Hunters International featuring American "pied-à-terre" buyers.
Three good-looking and personable guys (including one Frenchman who transplanted himself in Los Angeles many years ago to develop his videotography career) secured the ‘talent’ of Mary Schiller and her husband, Jeff Ballinger, New York residents who came for a whirlwind search (only six days) to find a pied-à-terre that would make the perfect ‘home-away-from-home’ and a profitable vacation rental on a small (by Paris standards) budget.
For three solid days from morning till early evening, with me wearing the ‘hat’ of "Property Finder Extraordinaire," producer David Stein (whose enthusiasm and funny personality filled all the apartment rooms) recorded the true story — how "M" and "J" trekked from one apartment to another, some in total shambles and others renovated to perfection, to find the one that suited all their needs.
We visited apartments in Montmartre, home to "Amélie Poulain," Toulouse Lautrec and others (18th Arrondissement), the "Haut Marais" (Upper Marais, 3rd Arrondissement where I live and love) and the well-touristed "Bas Marais" (Lower Marais, 4th Arrondissement). The camera followed us everywhere and passers-by gawked at the spectacle of the ‘Hollywood’ scene on the streets of Paris.
Maneuvering around the Brocante was no easy task, but photographer (and daughter) Erica Simone caught these funny moments in Paris time worth a chuckle or two. I had my own chuckles stopping at the end of one of the long days of filming to have a "Kir" at Place Colette with author of the new book, "Hungry for Paris," Alexander Lobrano. While it might rival my own "Insider Paris Guide to Good Value Restaurants," Alec has truly captured what he believes are the city’s 102 best restaurants, along with my sincere adoration and affection.
Then, all while the camera was rolling, I was also wearing the hat of ‘client,’ busy negotiating on a pied-à-terre in New York which my daughter could eventually call home, decorated in a style that amazingly resembled our own Paris apartment. We offered well over asking price, but once the film crew had packed up and headed back to Los Angeles, we learned there had been 15 offers on the apartment, some of which were much higher than our own. (In France, an offer of ‘asking price’ must morally be accepted, so bidding wars rarely happen!)
So, here we go again flying back to New York to find for ourselves the perfect pied-à-terre in just six days, recreating what M and J experienced here in Paris with no time to lose and everything to gain. Hopefully I’ll be able to catch a few ‘zzz’s’ on the flight over and snag an apartment to call her own.
See French Property Consultation on House Hunters International!
"Settling Down in Paris"
Angela and Ben met in 2003 when they lived in Los Angeles working for the same clothing company. Now, the two are engaged to be married. When Ben started receiving frequent overseas work, the company believed he’d be more valuable in Paris, so they happily relocated. They immediately moved into a cozy rental in the 17th district near the Arc de Triomphe and started to explore the different neighborhoods of Paris. The pair is now ready to take the big leap and purchase an apartment to stay for good. Property consultant Adrian Leeds is enlisted to help.
AIR TIMES: r />
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
Legal and Tax Issues for Rental Property
Part II: Renting Furnished Flats to Students
From the Chambre de Notaires
For lessors, it may prove advantageous to rent furnished accommodations to students, so as to avoid the legal obligations imposed on rental premises that sit empty.
Furnished accommodations that are rented to students are not covered by the law of July 6, 1989. In fact, Article 2 (Paragraph 2) of the law stipulates that it does not apply to furnished premises.
Housing must be in good condition, specifically with regard to paintwork, wallpaper and carpeting, upon being turned over to the tenant. It must also provide decent accommodations. In other words, the residence must have a minimum surface area of nine square metres for one person and must be equipped with a heating installation (at least one electrical socket) and a kitchen area that includes a sink with hot and cold water as well as space for installing cooking equipment. The flat must include a WC unless it consists of only one room, in which case the WC may be located outside the flat. If these standards are not met, the lessor may be required to upgrade the premises in order to bring them into compliance.
The lease contract
Apart from the obligation to provide tenants with decent housing, furnished tenancies are governed by the Civil Code. Therefore, the parties are contractually free to establish the terms and conditions of the lease and, specifically, the rent. A written contract is not required, but strongly recommended nonetheless.
Advantages of a written agreement
It’s worthwhile to come to an agreement with the student regarding a number of important points. Lessors are advised to put their agreement with the tenant in writing. It should include the duration of the rental period and the prior notice required, the security deposit, the amount of rent and possible indexation of the rent, monthly payment dates, any payments required during the summer months, expenses that must be borne by the tenant (electricity, gas, telephone), kitchen access, housing of visitors, rental insurance, etc. Both parties should have a clear understanding of the rental terms and conditions from the outset.
Inventory and schedule of condition
Each party to the agreement is responsible for assessing any change in the condition of the furnishings on the basis of a precise and detailed inventory of the furniture. This document is attached to the lease contract. Unless a schedule of condition is performed, the flat is deemed to have been in good condition when the student assumed occupancy. The tenant may therefore demand a schedule of condition if the lessor does not offer to conduct one.
Lessors letting more than four residences
If the lessor is letting more than four furnished residences, the lease must be established in writing. The minimum duration of the lease is one year. The tenant may terminate the contract at any time after prior notice of one month, delivered by registered mail with a request for acknowledgement of receipt. In the absence of communication from the lessor, the lease is tacitly renewed under the same terms and conditions. If the lessor refuses to extend the lease, he or she must inform the student renter three months prior to the end of the lease. A court may invalidate the removal of a tenant if there is no legitimate grounds for refusing to extend the lease.
Payment of rent during holiday periods
If the lease agreement stipulates that the residence is being rented solely for the academic school year, the student is not obligated to pay rent during the holiday period. On the other hand, if the residence is being rented for a longer period – one year, for example, with a tacit extension of the lease thereafter – the student must normally pay the rent until the end of the period stipulated in the agreement. The student may sublet the residence during the summer months, unless the lessor has included a provision in the lease that prohibits subletting of the flat or requires the lessor’s prior approval.
Two special cases
Housing in return for odd jobs
Housing may be offered to students in return for certain odd jobs. This involves an employment contract rather than a tenancy, in which the lessor agrees to house the student in exchange for a few hours a week of work or babysitting. The two parties will come to an agreement on the terms of the contract.
Subletting a room
Does a tenant have the right to sublet a room to a student? Not unless the tenant obtains the owner’s approval, including an agreement on the rent to be charged. Naturally, once the rental period comes to an end, the student will no longer be entitled to remain in the residence.
France Still Holding up but Looking Inland
The French property market has been a frequent subject of buyer interest of late, as one of the very few established markets which has held up well under the credit crunch. While Spain has struggled and Portugal – at least in areas such as the Silver Coast – is perhaps still an emerging market,
he old favorite across the Channel has held fairly firm.
However, noted the Times recently, the nature of UK investment in property in France has changed. It noted that the Côte d’Azur and Provence remain areas for consideration, but stated that Russian investors are now the biggest single group of overseas buyers.
As a result, the paper suggested, those looking for the best price may now be better off looking inland as the new red army descends on the coast. Stuart Baldock, manager of the Riviera branch of property portal Property Vision, told the paper: "People are edging westward, away from the overcrowded and expensive Côte d’Azur, in search of something more French."
The paper noted that while the rising value of the euro against sterling might deter some, it has had a positive effect in some cases, due to speculative investors being driven away and local sellers being urged to price themselves more realistically when selling to Britons.
Yet gains are still there to be made in many places, according to French property specialist firm VEF. The company listed Paris and Nice as being two locations where the annual rate of price growth has been above ten per cent over the past eight years, with some districts as high as 16 per cent.
In addition to this, VEF stated that Bordeaux, Lyon, Montpellier and Toulouse also offered good growth in value and healthy rental yields in the lettings market.
Thus there remains, it seems, good reason to buy in France. In the meantime, those who do own properties there will be obliged to have an electrical survey done from January 1, 2009, unless their electrical system is less than 15 years old, reports Homes Worldwide.
While this may seem awkward for British property owners looking to sell, the assessment of the safety and state of repair of circuits, plug sockets and wiring will mean that anyone looking to buy a property can negotiate the price downwards if it is shown that new work needs to be done, the website points out. So for those buying in France, it will soon be the case that one potential problem with a property purchase will either be ruled out or brought to attention before any contracts are signed and money handed over.
Paris Jewish Quarter Struggles with Change
The kosher pizzeria on the rue des Rosiers smelled like hot cheese, and Jewish teens leaned skullcap-covered heads into the doorway, hoping to order one of Moshe Benjamin Engelberg’s thin-crusted pizzas.
But Engelberg shook his head. After 27 years, he has lost faith in his neighborhood, home to French Jews since the Middle Ages, and is shutting down, depriving the rue des Rosiers district of one of its remaining Old World-style kosher restaurants…
To read the entire article visit http://edition.cnn.com/2008/TRAVEL/getaways/06/04/jewish.quarter.ap/index.html
French Property Owners Wasting Space
Thousands Missing Out on Additional Income
If you own a property abroad and do not rent it out, you could be missing out on thousands of pounds a year in additional income.
Recent figures from the Office of National Statistics revealed that some 850,000 Britons now own a property overseas but around 80% of these do not currently rent out their properties.
Those who do make the most of their overseas properties, however, could see significant returns according to recent figures.
Good Rental Returns
According to a survey by Savills Research and Holiday-Rentals.co.uk in 2007, the average purchase price of a holiday home in France was £320,389, the average number of weeks rented was 17, and average rent per week was £945.
This means that over the course of a year, rental income could be as high as £15,645 – money you won’t be getting if your property is sitting empty for most of the year.
Growing Tourist Trade
Despite the credit crunch, it seems that now is the time to take advantage of your property’s rental potential as more and more people are venturing overseas for their holidays.
The Office of National Statistics revealed that UK expenditure abroad increased by 10% to £9.6 billion in the first quarter of this year, with many people opting to stay in privately rented accommodation rather than in hotels.
Nick Fullerton, Managing Direct of FC Exchange commented: "This is a good sign that people are still eager to spend abroad… overseas property owners should look at this as a golden opportunity to rent to British holidaymakers."
It does pay to invest in the right area, however, as the level of demand varies from region to region.
Statistics from Holiday-Rentals.co.uk revealed that so far in 2008 the top five most popular regions are Paris, the Riviera, Corsica, Rhone-Alps and Provence.
Paris remains a consistent high performer due to its year-round appeal for city breaks while the Rhone Alps region, which has traditionally attract
skiers in the winter months, is currently gaining popularity as a base for activity breaks in spring and summer, especially since larger resorts such as Les Gets now re-open their lifts and other resort facilities around mid-June.
Editor’s Note: Renovating and Renting Your French Property for Profit is one of the topics being covered at the upcoming Living and Investing in France Real Estate Conferences being held in London on June 22 and in San Francisco on July 26-27. For more information or to register, visit http://www.adrianleeds.com/frenchproperty/conference
Le Grand Trek
From The Times http://www.thetimes.co.za
South Africans — mainly Afrikaners — are rediscovering their roots in France. Lin Sampson finds the faces behind the châteaux.
I don’t know if you’ve noticed, but every second person you meet these days has a "château" in France. It is never a house or even a castle, it is a "château," a word I have always found faintly embarrassing.
These posh pioneers are colonizing the center of France, snapping up properties the size of Versailles for the same price as a house in Rondebosch. And let me tell you, doll, there’s enough off-street parking for some really serious chariots.
Many of these so-called châteaux are really power houses, built by the newly rich in the early 20th century on the tide of a boom like the ostrich palaces in Oudtshoorn…
To read the entire article visit http://www.thetimes.co.za/PrintEdition/Lifestyle/Article.aspx?id=774061
Design Your Own Fractional Ownership Property
With "French Property Fractional"
by Adrian Leeds
Fractional ownership may be a hot concept!…but we’re making it even hotter!
A new division of the Adrian Leeds Group, LLC, "French Property Fractional" is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.
What’s Fractional Ownership?
A hybrid of direct ownership and time sharing, it combines the best elements of both. The primary differences are that while timeshares involve many shares in a large complex with “resort” amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.
Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to minimize the investment amount while maximizing the size, location and quality of the apartment.
What’s new about "designing your own" property?
While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that YOU want to feel like the property is really YOURS — and it is!! So, why not have a more personal relationship with the property.
Here’s how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT…to search and find the following property to be shared between only a very small group of owners — four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have
complete flexibility to arrange their calendar among themselves
* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE:
Members of the purchase pool must be willing to invest the full amount of at least one of
six, one of five or one of four shar
es to be held in an escrow account to fund the property search, purchase and renovation.
The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.
Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.
Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.
Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a "liaison" between all members of the purchase pool.
NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," email Adrian Leeds at email@example.com
Fractional Property Offerings
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHÂTEAU LIVING FRANCE
|Nice: ON THE COURS SALEYA
For more details and pricing information, contact firstname.lastname@example.org
Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…
Living and Investing
in France Real Estate Conference
Upcoming Conferences in 2008:
Living and Investing in France Real Estate Conference
Date: June 22, 2008
Location: International Law Partnership Offices, Holborn Hall, 193-197 High Holborn, London WC1V 7BD
Times: 10 a.m. to 6 p.m. with buffet lunch
Limit: 25 attendees
Registration Fee: £147 1st person, £97 2nd person
To learn more and reserve your place, click here: http://adrianleeds.com/frenchproperty/conference/LIF_London_June_2008/index.html
Living and Investing in France Real Estate Conference
Date: July 26-27, 2008
Location: An Alliance Française of San Francisco Special Event!
Don’t miss our 22nd Living and Investing in France Real Estate Conference! Learn how to live and invest in France…profitably.
Single Person Seminar $427, Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends Save $50, You Pay Only $377
Second Person $327 (Add Your Spouse, Partner or Friend), Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends, Save $50, Second Person Pays Only $277
To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email email@example.com
Living and Investing in France Real Estate Conference
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email firstname.lastname@example.org
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel or click here for Currency Convertor by Moneycorp Global Money Services: http://www.adrianleeds.com/frenchproperty/insider/moneycorpconvertor.html
for up to the minute conversions of all major currencies.
Compare currency values easily and quickly by visiting:
The charts below are updated every ten seconds.
The prices shown are "inter bank" exchange rates and are not the rates that you will be offered by Moneycorp. Your rate will be determined by the amount of currency that you are buying. Please speak with an Moneycorp dealer or your consultant for a live quotation.
Parler Paris Après Midi
Come for a drink and to meet and chat with other readers in Paris…
The next gathering is July 8, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: Rosy Residences in the Fourth
Each week French Property Insider features a range of properties which we believe are on the market at the time of writing. These properties are featured in order to give readers a sample of what is currently available and a working example of prices being asked in various regions of France and districts of Paris.
As we are not a real estate agency. These properties do not constitute a sales listing. For those readers seriously interested in finding property in Paris or France, you can retain our services to do the whole thing for you. For more information, visit http://www.adrianleeds.com/frenchproperty/consultation
***Paris, 4th Arrondissement, Studio, approx. 26m²
Ile Saint Louis near Notre Dame Cathedral. Charming studio on the fifth floor with an open view and full of light. In good condition, it offers a large room with two lovely windows, open kitchen, bathroom. Numerous great features including exposed beams.
Asking Price: 315,000€ + 2.5% Finder’s Fee
***Paris, 4th Arrondissement, Studio, approx. 27m²
Ile Saint Louis, in a beautiful older building on the third floor. A gorgeous studio in perfect condition, comes with a cellar. Very bright and calm with an open view. Ideal for renting by the week. See this one quickly before it’s gone!
Asking Price: 390,000€ + 2.5% Finder’s Fee
***Paris, 4th Arrondissement, 2 rooms, approx. 50m²
Exclusive! Rue des Rosiers on the fourth floor with elevator. Great living room with working fireplace, bedroom, office/walk-in closet, bathroom, toilet, separate kitchen, two cellars, wood floors.
Asking Price: 485,000€ + 2.5% Finder’s Fee
Next Sessions: June 24 and July 1, 2008 at 2 p.m.
Notaires de Paris
Place du Châtelet
12 avenue Victoria
Additional information on Les Ventes aux Enchères des Notaires can be found on the Web site at http://www.encheres-Paris.com/ Though the site has a button for an English version, it isn’t reliable to work.
To read Schuyler Hoffman’s article about the property auctions in Paris, click on:
June 24, 2008 at 2 p.m.
|3 rooms 69,78 m²
15 rue Manin
75019 PARIS 19th
Opening Bid: 315,000€
|2 rooms 33 m²
99 rue Duhesme
75018 PARIS 18th
Opening Bid: 145,000€
|2 rooms 21,18 m²
27 rue Emile Lepeu
75011 PARIS 11th
Opening Bid: 68,000€
July 1, 2008 at 2 p.m.
|7 rooms 141 m²
54 rue Bonaparte
75006 PARIS 6th
Opening Bid: 820,000€
|2 rooms 36,40 m²
118 boulevard du Montparnasse
75014 PARIS 14th
Opening Bid: 150,000€
|2 rooms 43 m² LOUE
23 rue Montorgueil
75001 PARIS 1st
Opening Bid: 170,000€
|3 rooms 92 m²
10 rue Talma
75016 PARIS 16th
Opening Bid: 450,000€
LEASEBACK NEWS FROM IMOINVEST
France, Brittany / Normandy, Benodet
Studio 20m² to 25m² €104,000 to €130,000
One Bedroom 25m² to 30m² €130,000 to €156,000
Two Bedrooms 30m² to 40m² €156,000 to €208,000
Three Bedrooms 40m² to 60m² €208,000 to €312,000
Four Bedrooms or More 60m² to 90m² €312,000 to €468,000
Guaranteed Buy to Let – Leaseback
GUARANTEED RENTAL INCOME UP TO: 4.00%
Located in South Finistere only 15km away from Quimper, on the left bank of the Odet, Benodet marks the border between the ‘Fouesnantais’ and ‘Bigouden’ regions. On the ocean side, Benodet has an exceptional heritage shaped by man and the sea. Landscapes which hug the Cornish horizon, fine sandy beaches, a sheltered bay and, only a shor
t distance away, the Glenan Islands. On the river side, the Odet draws its strength
and character from its steep banks where old oak trees bask in the sun.
The residence is ideally located approximately 100m from the beach and not far from the area’s top of the line casino and thalassotherapy centre. This very rare project will comprise spacious 134 apartments from studios to four bedrooms. Residence facilities include two pools indoor and outdoor, hammam, Jacuzzi, sauna, and fitness centre, bicycle room, laundry and parking.
New development, guaranteed rental income, personal use options and extremely fair prices – this leaseback ticks all the boxes! A very interesting investment opportunity for this highly sought after area of France. The delivery date is planned for June 2010 and a rental income up to 4% is guaranteed by the Lease. Excellent facilities make this not only a fantastic investment opportunity, but also an excellent vacation solution for owners and their families.
SEEKING A MORTGAGE IN FRANCE?
When you make a purchase as important as a piece of real estate in a foreign country, you want to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.
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We wanted better guides.
So we wrote them.
Insider Paris Guides are written for people who love the City of Light. You’ll get a Paris insider perspective on Restaurants… Making a Life… Black Culture… Expat Writers…and the newest guide, Practical Paris!
French Property Insider subscribers receive a discount of 10% off any guide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here’s how it works:
1. Click on special Web link we give you just for FPI subscribers.
2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.
Here is the special "coupon" Web link just for you:
THINGS YOU NEED TO KNOW
To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber’s Only," then type in your personal username and password.
Past issues of FPI are available on the website. You will find the
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Report, click on
HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 a
creslign="left">For more conversions, refer to: http://www.onlineconversion.com/
Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments and me, Adrian Leeds.
Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable as possible. We at Parler Paris know each and every apartment owner or manager personally, and stand behind the quality of those we represent. We understand your needs and desires, all the small details that make a rental apartment a warm and welcoming home – and a much better alternative to an impersonal hotel!
Parler Paris Apartments is administered and serviced by the same great team as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do their best for your 100% guaranteed satisfaction.
One-Bedroom, Sleeps up to 4
L’Aubergine sits tucked away on an historic and quiet Marais "cul de sac," making it an oasis of peace and calm. This second floor apartment (two flights) has two large bright windows that face a classic Parisian courtyard. With digicode, intercom entry system and elevator, it has been completely renovated and professionally decorated to the height of luxury, with a soothing "aubergine" (eggplant) and taupe color scheme. Everything in the apartment is new, from the designer linens and towels, to the appliances and electronics.
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/aubergine.html
or email: Apartments@AdrianLeeds.com
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