This as an opportunity to prosper…if one knows how.

If you’re like most everyone I know, then you’re frightened, too. The current economic uncertainty is creating one gigantic worldwide ‘anxiety attack.’ Whether you’ve ‘lost’ money in the stock market or not, the unpredictable future is scaring us into believing we’re all going to be a little bit poorer…except for those who know how to prosper in times like these.

Warren Buffet will tell you that when the market is down is the time to buy. He said, “The investor of today does not profit from yesterday’s growth.”

Today the dollar-euro rate of exchange is $1.26. Last July, when your stock portfolio and IRA were healthier, the rate was pushing $1.60. So, the dollar has gained strength against the euro at a rate of more than 20%…you have more buying power, even if you have less funds with which to invest.

In the last few months, property prices in Paris have reduced slightly in many areas of the city. In all of France, prices fell from August through October. There was a decline in demand for property because of an increase in interest rates, increased difficulty in obtaining loans, and the insolvency of first-time buyers. The consequences were felt in most of the city’s most populated districts, however, a few remained consistent or even increased, such as in the 1st and 7th arrondissements.

Meanwhile, interest rates are coming down. One of the lenders we work with just issued an announcement: “Please find attached our exceptional mid-month update: there has been a further rate reduction on all our product range.”

Buying power is up, prices are down, interest rates are down. Isn’t this a rather fortuitous moment? So, why aren’t you seizing this amazing opportunity to fulfill your dream to own your own little piece of Paris, Provence, or anywhere in France?

Fear? Is that what’s stopping you?

When Franklin D. Roosevelt made his Inaugural Address on March 4, 1933, during the lowest point of the Great Depression, he made history with these words: “This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself —- nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.“

I was frightened when I was living on a pauper’s pittance back in 1999 when my landlord said, “Sorry, but we want to sell the apartment.”

I went into ‘cardiac arrest.’ After three years of ‘schlepping’ the groceries up three flights of stairs, I had become quite attached to our sunny Marais 17th-century “pied-à-terre” with its little idiosyncrasies and the friendly “quartier commerçants.”

Buying the apartment immediately became the number one project. At the time, it wasn’t about making a good investment. The thought of uprooting was frightening, but also, finding any other apartment as homey and comfortable as this one at a similar monthly rental would be almost impossible.

The process to purchasing the apartment was a nine-month-long learning curve that felt akin to ‘giving birth.’ Little did I realize then how the experience would make life in the future prosper in a myriad of ways.

With the help of a French friend and recommendations from others, I found French banks willing to lend money to non-residents and a “Notaire” who spoke English. I was so happy to find a mortgage that I didn’t care about the interest rate or the terms of the loan as long as the monthly payment was close to the previous monthly rent. I didn’t negotiate on the selling price. Naive and stupid, the only important thing was holding on to the roof over our heads, not about the wise investment I was making. Sure, I was scared. It was a major commitment — one which I wasn’t certain I’d be able to fulfill.

In the year 2000, the apartment on rue de Saintonge became our own and during the process, I built a variety of valuable resources and learned a lot about how to go about purchasing French property. Then, I started to write about my experiences…the ups and downs, the pitfalls and hurdles…and discovered I wasn’t the only one trying to purchase property in Paris at the time. Others were viewing it as a way of earning rental revenues while gaining appreciation.

This is when we began to assist others in finding their own dream “pied-à-terres.” Not long after, “French Property Insider” was born — our weekly e-zine designed to share insights, make recommendations, provide tips and discoveries about property in both Paris and France.

Since then, the apartment we purchased with an initial investment of about $50,000 (down payment and Notaire fees) has increased in value 3.5 times. Equity release loans have enabled me to purchase three additional properties (two in Paris, one in New York City) which today have a total worth of more than $2 million.

Am I frightened now? No. I see this as an opportunity to prosper…if one knows how.

Since 2002 we’ve helped literally hundreds of people make smart investments in France. Of those, we don’t know a single one who has been unhappy with their investment. Not one.

Some of them are happily living here, but most are owners of rental apartments they use themselves from time to time and rent the rest of the year. Their goal is to cover their mortgage with the rental revenues while the property appreciates, all while personally enjoying their little foothold in France.

You can see some of them just by visiting Parler Paris Apartments. Have a look…

• Regardless of where in France or what type of property you are thinking of purchasing, we can find the best investment properties on the market and will work with you from beginning to end to ensure a smooth purchase without making costly mistakes. Property Finding Services

• Not only can we help you find the property, but if you’ve found a property on your own, we can help you through the purchase process. If you wish to sell a property you currently own, we can assist you in that process, as well. Purchase and Sales Assistance
  
• With the close relationship of a number of lending institutions we’ve had for years, we provide the mortgage brokering service absolutely free of charge! Obtaining a Mortgage
  
• We can provide a professional appraisal of a property if needed, set up your utilities and provide other “après vente” services, including complete renovation and interior design. Appraisal Service, “Après Vente”
  
• When all is said and done, we can manage and rent your property so you
  have nothing to do, but accept the rental revenue checks! Renovation and Interiors
  
• And if you’re interested in owning just a ‘fraction’ of a property in France, we now are working with several developers who offer a variety of properties as well as having the ability to help you set up your own fractional property.Fractional Ownership

Adrian Leeds
Editor, Parler Paris