Live like the world’s most successful Olympian

Michael Phelps has recently become the world's most decorated Olympian of all time, yet unfortunately he still hasn't yet medalled in the property market.

In February earlier this year, Phelps put his 4,000 square-foot apartment on the US property market, giving property buyers Worldwide the chance to live in luxury like an Olympian for a mere $1.42m - at a discounted rate from the original price that he purchased the property for of $1.69m.

The apartment condo is situated in Baltimore's famous Inner Harbor and boasts three bedrooms, three bathrooms, a picturesque views of the marina from its top floor balcony as well as access to the building's indoor pool where Phelps could practise his strokes. The new lucky owner of this wonderful property could utilise the hot tub on the roof terrace to perhaps perfect their treading water skills.

While since 2007, when originally purchasing the property, Phelps’ tally of gold medals has increased, unfortunately the American economy took a turn for the worst, leaving the 28 year old swimmer swimming against the property current. Even after reducing the value of his home significantly, Phelps has struggled to find a buyer.

However, now is the perfect opportunity for someone to make a splash in the US property market. The demand for American homes is increasing from overseas, so we may see a few Olympic-enthusiast investors to be dashing to the harbour-side.

Would you take the dive? If you fancy taking advantage of the American property market and would like to look into purchasing a property in USA, visit us at Conti- Overseas Mortgages to help you on your way.

Alternatively, if you are looking in the UK and are confused by conveyancing prices and additional charges, visit us at www.helpfulconveyancing.co.uk to help clarify you confusion and compare conveyancing prices to help you find the best deal for you with NO added costs. We operate remotely so can offer you the best prices on conveyancing for the highest quality conveyancing.

American Mortgage rates increase for the first time in almost 2 months

American mortgage rates have increased for the first time in nearly 2 months, rising from the lows that have helped to keep the property market stable.

Recently average rates have been at record lows of 3.49% for a 30 year fixed mortgage, but have just climbed up to 3.55%. While the average 15 year rates have increased from 2.8% to 2.83%, a small increase, but an increase nonetheless!

The slowly recovering property market can be partially attributed to a reduced number of available houses and lower borrowing costs. The S&P/Case-Shiller index of prices in 20 U.S. cities decreased 0.7 percent in the 12 months through May, the smallest decline since September 2010.

“House prices have turned the corner,” Sal Guatieri has said, senior economist at BMO Capital Markets in Toronto “The record-low mortgage rates are supporting the best affordability in at least four decades.”

An index of applications for refinancing climbed 0.8 percent in the week ended July 27, the Washington-based Mortgage Bankers Association said yesterday. The group’s purchase gauge dropped 2.3 percent.

If this marks the start of a climb in the housing market of America, then now would be a fantastic time to get involved. If you are interested in the American property market, buying a house in the USA or taking out a US mortgage, then get in touch with Conti -Mortgages Overseas either by exploring our website (www.mortgagesoverseas.com) or via telephon 08009700985

alternatively, if you are moving elsewhere in the UK and are in need of conveyancing for your new property. visit us to compare conveyancing prices to find the best quality conveyancing for the best prices in your area!! www.helpfulconveyancing.co.uk

Escape The Euro Crisis In These High Growth Property Markets

fig 1. mount Ararat, Turkey
The Euro is on the brink of breaking as political leaders in Greece have announced that their country is heading towards its own Great Depression with Spain and now Italy slowly heading the However,
as Roman philosopher Seneca once said “It’s not because things are difficult that we dare not venture, it’s because we dare not venture that they are difficult.”


if you were interested in buying property in Europe, perhaps Spain or Italy, but are worried at where the pending economic crisis may leave you, then fear not as there is a country in Europe that may be able to help jump start your property portfolio.

Turkey has been one of the top spots on investors’ property lists for the past two years with its rapid GDP growth of 3.2% in the first quarter of 2012 underpinning strong rises in the value of Istanbul property.

As a result of the new reciprocity law that has been passed to allow citizens from the majority of countries to invest in Turkish property, there is now a steady influx of investors from Gulf nations in particular, who were previously unable to invest directly.

As many Turkish real estate advisors will tell you, “If you really want to make money from investing in Istanbul property you will need to move early to get the best prices. We are seeing a lot of interest from investors we haven’t seen before as a result of the new law being approved.”

Property prices in Turkey are already on the up and are rising by around 10% every year, which would mean, if this trend continues, that property in Turkey could have risen by so much as 50%!! This is making Istanbul a great place add to a property portfolio or even to build.

The property market in Florida is another hot market that is attracting some attention this year with investors hoping to catch the bounce.

Fig 2. Crandon Park, Florida

If you are keen to invest but you want to steer clear of the Eurozone crisis, Florida is a market where you can enjoy strong rental yields and prices that are showing the first clear signs that they are on the up.

You can pick up a townhouse from as little as £45,000 and with the price of Miami property 50% below its peak it is a solid investment!

If you are tempted by the prospect of taking advantage of the property market in Turkey or in Florida and are looking into investing in property in either of these places, or anywhere else for that matter visit Conti Overseas Mortgages at www.mortgagesoverseas.com

OR if you are looking for a home in the UK and need conveyancing? visit us at www.helpfulconveyancing.co.uk for all your conveyancing solutions!!

Oprah loses £1.8 million on Sale of luxury Chicago apartment

Talk-show legend Oprah Winfrey has sold her luxury apartment in Chicago for under half the price she bought it for in 2006.

The television presenter brought the luxurious property in the city's swanky Streeterville neighbourhood for £3.57 million ($5.6million) in 2006.  On her first attempt at selling the property, she put it on the market in 2008 for £3.82 million ($6 million) though it failed to attract a buyer.

According to the Chicago Tribune, this forced Winfrey to lower the asking price in May 2012 by around £1.8 million ($2.8million) and the sale was finalised in July.

The apartment  consisted of a wine room, a formal dining room, a butler's pantry, a 24/7 doorman, and even a solarium as well as its own library. Despite the sheer luxury of the property, Oprah never actually lived there herself as it is reported that ‘that she felt this property was too overlooked and had concerns about privacy.’  

The star also owns a number of other homes including a farmhouse in Kula, Hawaii, a holiday home in Antigua, a property by the shore in Lavallette, New Jersey, a ski chalet in Telluride, Colorado, and a home in Douglasville, Georgia.

if you fancy jetting off to the USA and are looking to buy property in the USA then visit us at www.mortgagesoverseas.com

alternatively, if you are moving elsewhere in the UK and are in need of conveyancing for your new property. visit us to compare conveyancing prices to find the best quality conveyancing for the best prices in your area!! www.helpfulconveyancing.co.uk