Town & Country Property: A powerful force to be aware of.

Hello Cees, thanks for agreeing to this interview for the Real Estate Magazine. Our readers find these personal glimpses into the working of the real estate agents very interesting.

Can we start with you telling me about yourself before you came to Thailand?

Of course! I come from Holland and have probably been working all my life in sales and marketing or related fields. I’m 43 years old, unmarried, and I decided when I was 35 that it was time for a chance. My working territory, so to say, was the triangle of Amsterdam, Rotterdam and The Hague. Originally I am from the Eastern part of Holland.

Reason for me to move to Thailand is because I was a little bit fed up with Holland, and, I guess, the environment in Europe. If you are an entrepreneur and would like to achieve some success or design and establish something, it’s getting tougher on you.

I don’t even mention the tax climate of ‘sunny’ Europe…

I’ve been involved in the hospitality industry and logistics for example and to help a couple of friends out I agreed to do the architecture/design for a couple of luxury sandwich bars. I remember it took over a year to get all the permits and licenses in place opening up a sandwich bar in the city of The Hague. I have been working for rather big companies in Holland and operating them, with all the rules and regulations that apply, makes it so difficult to focus on your core business. Most of your effort and attention is put into procedures and things like that, more than anything else instead of focusing on your clients or sales. Although successful, I became very bored and decided to leave Holland. When I announced to a couple of “friends” (acquaintances) that I was going to leave and start a business in Thailand they thought I was crazy. They said: “You have a nice house, a nice car, a good career and you are making quite a bit of money… you must be crazy!” Only my best mates tapped me on the shoulder and complimented me: “Finally”!

I had a friend who was staying in Manila Philippines who had a plan to open a fancy restaurant in Thailand. It was a perfect excuse to wrap up things and prepare myself to move to Thailand.

When did you come here then, and how did your plans work out?

I came here about seven years ago and the first objective was to secure a nice location for the restaurant in a good area in Bangkok. It was tough to find a good location. Everything was either already occupied or too expensive so the broker that we used suggested a property that was available here in Pattaya, a double unit on the corner of Soi Post Office and Beach Road. A former outlet of AW fast-food chain. We opened a night-spot called Samsara Lifestyle and it was pretty successful. We had many clients from Bangkok, movie stars and many trendy people knew where to find us. One of those was a company called Tricon International Restaurants who held the franchise for Pizza Hut. That was in (I think) 2000. That was why Samsara closed. We sold to them and it’s now another Pizza Hut outlet.

I decided to create my own business here in Pattaya and later on began working with an interior designer. We did many residential renovation projects and commercial projects, interiors of bars and hotels and so on. Before I considered moving on to become a building agency that was involved in design, architecture, construction and sales of properties that was probably the time when Town and Country Property came along and I decided to join.

Who founded the company?

Town & Country Property was founded by two people. They had recently opened the business when I met them. We worked well together and I became involved with Town & Country Property just one month after they opened for business. That was in 2003. All of a sudden a very small group became a much bigger group because I brought with me nine staff members so Town and Country Property was not just a broker but a broker with the facility to design and construct private residences or convert places into a commercial bar or a restaurant etc. This whole company evolved into one which dealt with all kinds of property matters. We became so successful and had so many enquiries and so much work, but at the same time we were working as developers and looking at developing our own projects, that last year, in December, we decided to end our entire individual commercial and residential projects so were stopped taking customers who wanted us to design and construct single residences, what was in effect turnkey projects.

We could then focus our attention on our own projects, which is what we still do.

What projects are you currently working on?

We have three projects at the moment. “Whispering Palms”, a luxury project of sixteen villas near the entrance to The Horseshoe Point, the equestrian centre near Mabprachan reservoir. We have The Meadows, a unique modern residential development of 64 houses being built at the top of Soi Nern Plub Wan, and Nova Residence Jomtien, a condominium being built at Soi 17 Thepprasit just behind Jomtien Park Villas. A very up-and-coming location in the heart of Jomtien. All in all we are quite active for a relatively young company. Guess we are quite blessed with a number of talented and experienced staff-members.

When you joined the company what position were you in and how did you progress to your current position?

I started heading the department architecture and turnkey contracting. Then I was a minor shareholder of the company. Over the years a fourth partner came in and later the initial two founders of the company were bought out by us, so together with my Belgian partner we operate the business on a 50 – 50 basis. I am the Managing Director who oversees the day-to-day operations and has personal involvement in all of our marketing, sales and advertising. I’m sales driven; enjoy dealing with clients and like designing art-graphics. My partner Herman, who has an extensive back-ground and experience in construction and development, is taking care of that side of the business. A great combination I would say and a very pleasant working relationship.

How big the company is and what staff do you have now?

We are a very service-oriented company; you need to have sufficient team members in place to be so. We are constantly remodeling the office space and as you can see we are now renovating the left side of the building. That will become our showroom where we will show our project-models and have a guest lounge. There are two floors above us where our designers, architects and accountants work. Our sales office accommodates a very powerful force of sales consultants and sales and marketing assistants.

We focus on quality and are service minded; we do not want to be the biggest realtor in Pattaya; simply the best!

What types of buyers are you getting and how are they buying?

There are two types of buyers and I like them both. There are those who are interested in a condo and there are those interested in a house. Two different profiles. People that are interested in a house don’t mind registering it into a company. I have only come across a very small number who would register the house into a Thai person’s name. People that buy a condo are interested in buying it in their own name. Only when the percentage allowed for purchase by a foreigner is reached they will, especially if the project is very nice, register it into a company name. We rarely see Thai people buying through an agency. They will visit a project-site by themselves, go into the sales office and make their purchase. There is plenty of opportunity for them to do so, they hardly go to an agency and say they are looking for a property. I can easily say that 95% of our customers are foreign. Many different countries but dominated by UK buyers either as end-users or investors. We have a very colorful mix of buyers, those looking for a real bargain and those looking for the utmost luxury. Even through Internet we are very successful to cater to our foreign investors. Probably 60% of all our sales are based on referrals; which, in my opinion is quite unique for such a young company.

Apart from buyers we also see a strong growth of quality tenants interested to rent a luxury home or condo. Those gain property owners an interesting return on their investments up to 10%-12% in some cases. A very healthy market.

What are your thoughts on the property market here in Pattaya?

Property in general is moving. You would think that there is an overload of affordable properties as there are so many villages being built, from starter prices at just under 1 million (Bt), but still they are moving quite fast. A new development starts and within 2 years or so it is fully completed and sold out. Now, people are moving to better quality houses at affordable prices rather than the standard style roof-to-roof-type of village developments, where the developers tries to put in as many properties as possible rather than a little more elegant and a little more spacious with better quality. For the future I would say starter-class developments will get better quality and there is a strong demand for luxury developments. Having been here for seven years I have seen what is going on and know the market from the early stages up until now. I have seen tremendous change from three or four years ago when someone with serious money in their pocket couldn’t spend it on top-quality housing because it simply wasn’t available. Individual residences perhaps, but a secure development where you had a choice of really nice properties, maybe starting at 10 million Bt or more, simply were very hard to find. If you look at the market now there are properties around for 1 million US Dollars, or even more. Even those developments seem to sell.

The type of people who visit or live in Pattaya is also changing. Many years ago the single bachelor came to Pattaya for alcohol and ‘company’, stayed at very affordable hotel accommodation or bought a condo for 1 or 2 million. It is now changing to many more families, couples and people with higher budgets spending serious money on a high quality product.

As for developments and availability in Pattaya, forget Central Pattaya. Everything is already taken; most of it is commercial property, with a few small exceptions like North-shore which is now almost finished. In the early days places like Soi Nern Plub Wan were THE residential development areas. If you go along it and look at the small Soi’s you will see smaller and bigger villages built in there. They aren’t always noticeable because if you drive along you see only shop-houses. It’s a typical technique of Thai developers. They have a land parcel fronting on to a road, they make a nice garden with a security gate on a road leading in to the village and when everything is nearly sold the garden disappears and shop-houses are being built. That is the reason Soi’s like Nern Plub Wan have many shop-houses. The developers then moved over to other Soi’s like Khow Noi, Khow Thalo. It isn’t finished yet. Developers moved to Mabprachan, though now with zoning regulations, no new housing developments are allowed there.

“East Pattaya” is still the strongest residential area of Pattaya and most likely will be so for many more years to come. It offers starters-housing projects up to exclusive projects like the luxury Siam Royal View.

There are now a few hot areas around Pattaya with lots of activity. Wong Amart (north Pattaya – Naklua) is quite hot, it has always been a favorable area for the richer Thais and the German crowd. The coastline is now dominated by commercial developments and luxury condominiums like Saranchol. We see quite a few up-market hotels going up in that area as well. Pratamnak (Buddha Hill) with a combination of low rise condominiums and luxury, nicely finished houses, is definitely one of the hottest spots in town. Over the last couple of years you didn’t see much activity but land parcels were rapidly changing hands. Since the beginning of this year more and more end-users finally got their plot of land and started to build their dream home or development. Land prices in that area are relatively expensive, approximately 25,000 Bt per talang wah. But I still see a growth around. There is also quite a bit of activity in Jomtien, with a variety of condos and houses available. Especially with all new infrastructures going in at this moment, the ‘back-drop’ of Jomtien is getting more and more popular.

Just a matter of a few more years before people will notice it.

For a long stretch of time, sellers are in the catbird seat and can count on getting their asking prices.

Plotsdon’t need to remodel to increase the value of your home. In fact, some remodeling jobs do not increase the value of your home. From curb appeal to paint, there are some upgrades that will lead your good Land for Sale.

Money and marketing:

If you watch at home, garden and cable channels, it looks like everybody flipping houses. Flip This House ‘and’ flipping out ‘just a few of the many cable offerings that quickly it and sing the praises of a much higher price. But flipping the house for more than an investment fund lesson: Buy low, sell high. Do you want to find a Land for Sale property that is undervalued, or just bad enough shape that you can invest a minimum of time and money to marketing before. There are people who have made their careers in buying properties and quickly turns sad split the profits. However, a real estate bust, things are not so simple.

Investment property:

This step is quite simple, when subprime mortgages warm. These mortgages allowed buyers to pay little or no advance. In return, the pods were higher interest rates – but if you plan, the owner only a few months, this is a problem. When the market is flat, however, get mortgages on an investment property is more difficult, and the sky high interest rates for investors, empty wallet, when a property sits on the market.

Nbrdevelopers.com is a young, dynamic and vibrant real estate developer from Bangalore formed to fulfill the aspirations of people to have their own houses. NBR Land Developers has pledged itself towards fulfilling this aspiration of people and has over the last 8 years fulfilled this aspiration of many people of creating residential plots in Hosur. It has worked towards establishing itself as one of the key players in real estate development in Bangalore and Hosurcreating residential plots in Hosur, Plots, Villas, Apartments, Houses, Lands, RealEstate, Flats for sale

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What’s/Who’s new in business
WHAT’S NEW Peytyn’s Place has opened at 5062 S. Ridgewood Ave., Port Orange. Owner Garrett Isitt, a certified auctioneer, offers both new and vintage decorative items, antique furniture, silver, jewelry, artwork and collectibles. Isitt also buys antiques and other…

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People looking for a new home might opt to buy fixer uppers instead of new dwellings due to financial constraints. For those who are not very familiar with residential real estate, a fixer-upper home might cost more than a regular new home. However, there are certain ways to get a great deal and buyers should take note of each of these strategies.

Why Make a Purchase?

A fixer-upper house is a used dwelling that requires certain repairs to make it habitable. This type of residential property is ideal to those who have limited finances but have the necessary skills to renovate a residential structure. Of course, buyers can always hire professionals to work on the renovations, but a lot of savings can be realized if the buyer will not require the services of hired labor.

The main reason why some homebuyers prefer to buy fixer uppers instead of a brand new house is the affordability of these types of properties. Another reason is that some buyers are interested in remodeling the house according to their tastes and consider the process an exciting project.

Getting a Good Deal

Before signing any purchase contract, a buyer should make sure that the cost of repairs will not be too much for him to handle. If the purchase price plus the cost of repairs reach an amount that is higher than the purchase price of a brand new home, then it is a very poor deal indeed. Regular homebuyers will not be able to fully assess the renovation needs of a house that is why they would need the services of a professional and licensed home inspector.

It is also advisable for a buyer to negotiate with the seller that if the cost of repairs goes beyond his planned budget, he should be allowed to back out of the agreement without losing his deposit. Most sellers will allow such a provision; the trick is to get them to agree before the purchase contract is drawn and to have it in writing.

For people who plan to buy fixer uppers, they have a chance of getting a great deal if they plan ahead and conduct a thorough research of the property. Hiring a professional home inspector is also another way to ensure that they will be getting the best part of the agreement.

Anchorage housing market ticking upward
July 23–While the national homebuilders’ confidence index is at a 15-year low, the Anchorage market is having its best year since 2007.

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Streeterville is an affluent, lakeside Chicago neighborhood with a mix of residential real estate. On the same block you’ll find vintage flats, multimillion-dollar homes, affordable apartments, and luxury high-rises. Lakefront condos are prime property in Streeterville, offering spectacular views, proximity to downtown and, of course, access to Chicago’s magnificent Lake Michigan coastline.

There are dozens of excellent residential condominiums in Streeterville, but nothing compares to those that are right on the water’s edge. If you’re looking for true lakefront living in the Streeterville neighborhood, Lake Shore Drive is going to be your home sweet home.

600 N. Lake Shore Drive

This new construction luxury condo consists of two glass-clad towers that overlook Navy Pier and Ohio Street Beach. The units are contemporary and well-appointed, with no more than six residences on each floor for maximum exterior exposure and square footage. Condos at 600 N. Lake Shore range from 1,000 sq. ft. to 2,500+ sq. ft. with 7′ tall windows and 9′4″ ceiling heights.

The dual-building project was completed by Belgravia Group & Sandz Development Company in 2008. It is located next to the W Hotel on the corner of Ohio Street and Inner Lake Shore Drive. The North Tower stands 40 stories tall and the South Tower extends another six stories up. The floor plans offer one- to three-bedroom layouts with a variety of fine finishes, including oak hardwood floors, marble tile foyers, granite counters, stainless steel GE Profile appliances and insulated windows.

According to the condo’s official web site, there are currently 439 residents inhabiting this top-of-the-line lakefront condo in Streeterville. Residents enjoy on-site perks, such as indoor heated parking, 24-hour doorman, exercise facilities, extra storage, business center, dry cleaners, bike room and rooftop sun deck. And don’t forget, sand and surf are right across the street from 600 N. Lake Shore Drive!

990 N. Lake Shore Drive

Located where Lake Shore Drive curves around the shoreline to meet the southern tip of Oak Street Beach, this lakefront Chicago condo boasts vast panoramic views of Lake Michigan and a prestigious Streeterville setting. 990 N. Lake Shore Drive is a 34-story high-rise with floor-to-ceiling windows, a rooftop swimming pool, exercise center, and a doorperson at your service around the clock.

Since its construction in 1973, many of the units at 990 N. Lake Shore Drive have been renovated and modernized. The condos reflect individual owners’ styles and offer a wide variety of handsomely decorated homes. A number of the residences have been fully updated with all-new finishes as well as remodeled kitchens and baths. The larger floor plans have approximately 2,000 square feet of living space with three bedrooms, three baths, and formal dining rooms.

Barancik Conte and Associates are the architects behind the design of 990 N. Lake Shore Drive, which combines a white concrete façade with long curtain-walls of black-tinted glass. Private balconies and terraces are reserved for a select group of “A” tier units, but all residents are welcome to enjoy the open-air sundeck and pool on top of the building.

840 N. Lake Shore Drive

Famous architect Lucien Lagrange said his inspiration for 840 N. Lake Shore was the elegance of the Drive’s older buildings. The condominium is influenced by traditional French style with a specialty zinc-clad mansard roof and ornate 19th Century detailing. Lagrange masterfully blends vintage charm with contemporary architecture to create a one-of-a-kind residence fit for Chicago’s most discerning home buyers.

Completed in 2004, this 26-story luxury lakefront condo is one of Streeterville’s most desirable places to live. It has 73 units that range in size from 2,100 sq. ft. to 8,700 sq. ft. (for the penthouse). The condos feature open layouts with minimum 9′ ceilings, plentiful closets, high-end appointments and exquisite interior finishes. A cylindrical column of bay windows on the southeast corner of the building makes for incredible multi-directional vistas of Lake Michigan and beyond.

Other design elements of 840 N. Lake Shore Drive are the recessed balconies, oversized windows, and exterior stonework. Construction was done by LR Development Company, who had the condo ready for occupation in April of ‘04. The building offers garage parking, exercise facilities, a posh lobby, and doorman. In addition to being across the street from Lake Michigan’s shoreline, there is a small park, softball field and tennis courts next door to 840 N. Lake Shore Drive. Northwestern University’s Medical School campus is a block away, as is the Museum of Contemporary Art.

Brick maker to close
The ailing housing market has claimed another casualty in the Triangle with the planned closure of a brick manufacturing plant in Moncure.

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Connecticut June 2010 New Business Starts
The following business starts were recorded in June 2010 by the Connecticut Secretary of the State’s office. When available, the name of a registered member or officer is given.

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Bankruptcy filings in state up 16% at midyear
Bankruptcy filings in Wisconsin rose 16% during the first half of this year, an increase lawyers say was driven largely by consumers and small-business operators who couldn’t find enough work in the slow economy to keep up with their debts.

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Small banks hope to capitalize on woes of larger banks
In the midst of negotiations with a landlord for new office space, Lisa Hamilton needed a loan. Four large banks refused to lend her the money without SBA funding — but she didn’t have time for that lengthy process. An optometrist, she owned two Pearle Vision franchises and wanted to open a third location. Hamilton needed the money [...]

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Business people and places
See who’s moving up and around:

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Catonsville artists form bond with group exhibition
The Catonsville Bicentennial Fine Arts Exhibition on June 12-13 will provide local artists an opportunity to introduce residents to their art and introduce themselves to their fellow artists. The show in Catonsville Presbyterian Church’s “Let There Be Art” gallery serves two purposes, according to artist Edward Williams, 49. The community can see…

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Business Notes
Real estate broker Tom Harner announced last week that he has purchased Century 21 H.T. Brown, a Columbia-based real estate agency with an office in Deale, for an undisclosed price.

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Real estate transactions
LAND: Harris County Municipal Utility District #372 has purchased 0.75 acre of land at the southwest corner of Kirkwood and Westpark from Camden Realty. Bill Heavin and Matthew Herring of Grubb & Ellis represented the buyer. Crosswell Properties represented the seller.

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New listings.: An article from: Real Estate Weekly

Home Remodeling Architects Providing Plans To Remodel Your Home. Plans Include Front Porches, Dog Showers, Window Seats, Garages, And More.
Renovation Design Group Architects.

Hanley Wood Adds to Senior Sales Leadership
Hanley Wood, the country’s largest B-to-B media company in the housing and construction market, has added a new executive to its sales and marketing team. Karen Karmilowicz has joined the company as senior vice president of sales for the Market Intelligence practice. She will be based at Hanley Wood’s corporate headquarters in Washington, D.C. read more

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Real Estate Industry Still Has Problems to Overcome for 2010-2011 Says Plunkett Research
HOUSTON—-Plunkett Research, Ltd. has released its newest market research and competitive analysis report, Plunkett’s Real Estate and Construction Industry Almanac, 2010 edition, which identifies and analyzes major trends shaping the real estate and construction industry.

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The financing world can be intimidating for most. By understanding the different types of loans available, you will not only have more confidence going into the deal, but more importantly you will get the loan that is perfectly suited to your needs.

FINANCING OPTIONS

There are numerous financing options available. The following are loan programs most commonly used by investors:

Unsecured loans: Unsecured loans do not require collateral (for example, credit cards).

Conventional loans: These are loans given by conventional lenders that require no government guarantees or insurances. These loans include your common fixed-rate mortgages, ARMs, and fully amortized and interest-only loans.

Government loans: Government loans such as FHA, VA, and FSA provide financing more easily for first-time home buyers with smaller down payments and lower income requirements. Lenders are able to provide these loan programs due to the insurance that the government provides. The government guarantees a certain amount of payment to the lender of these loans if the borrower were to default.

Seller financing: Seller financing is when a seller allows the buyer to make payments to him for the purchase of a property rather than requiring the buyer to obtain bank financing to pay him in full at close.

“Subject to” loan: When a seller sells his property without paying off his existing financing, the buyer purchases the property “subject to” the existing financing. The buyer makes his payment to the seller, and the seller continues to make his to the lender.

Construction loan: Construction loans provide the financing the borrower needs to build a property.

Home Improvement Loan: Home improvement loans are equity loans that the lender grants for the purpose of home repair or remodeling.

Commercial Loans: These loans provide financing for commercial property. Commercial properties are properties used for places of business that are zoned for commercial use or residential properties with five or more units.

Lease Option: A lease option is when a seller leases his property to a prospective buyer with the right to purchase it at a later date for a predetermined price.

HELOCs: Home Equity Lines of Credit are revolving loans that are secured by the equity in the borrower’s property. A revolving loan allows the borrower to re-borrow the funds that he has paid off.

Home Equity Loan: A home equity loan is secured by the equity in a borrower’s home. Home equity loans, with regards to lien priority, can be in first position, second position, third position and so on.

80/20: An 80/20 loan is where the buyer obtains two loans at the same time to finance one property: an 80-percent first mortgage and a 20-percent second mortgage.

Hard Money: Hard money lenders don’t usually have the same strict qualification guidelines that traditional lenders do. However, they charge enormous fees and interest rates.

Assumable: Assumable loans are loans that permit the borrower to take over the existing financing on a property rather than taking out a new loan. There are two types of assumable loans: freely assumable and qualified assumable. Freely assumable loans are very rare. They do not require that the buyer go through any qualification screening to take over the loan. However, the seller, or original borrower of the loan, is responsible if the buyer who assumes the loan defaults. A qualified assumable loan requires that the buyer go through the same qualification requirements that he would have to in acquiring new financing. Once qualified, the loan is put in the buyer’s name, and the seller is removed from any further obligation to it.

Private Money: Private money lenders are individuals who are willing to lend their own personal money.

Portfolio Loan: These are loans that do not meet the purchase requirements of the secondary market. Lenders who are willing to create these loans are a jewel for an investor. Because the lender isn’t going to sell the loan, he doesn’t have to abide by secondary market criteria. Often the lender will custom tailor the loan to fit the investor’s needs.

Simultaneous Closing: A simultaneous closing is when a buyer closes on a property he has agreed to purchase and then closes on the resale of that property to another buyer for a profit, all in the same sitting.

Assigning Contracts: When a contract lists the buyer’s name or Assignee as the purchaser, this gives the buyer the right to assign the contract to another buyer. Investors can turn profits assigning contracts to other investors for a profit.