Tuesday, July 14th, 2009
Hi there,
I was looking at a French national TV channel’s report of a visit to the Bulgarian Black Sea Coast last night. I won’t name it – but it’s French and the number comes right after one. I was not surprised – it was “confirming” the typical and predictable French opinion of the Bulgarian scene – and proceeded to report that “all” the large hotels on the Bulgarian Black Sea Coast are owned by the Mafia (Bulgarian or Italian, they didn’t say). Then they showed that the resorts were empty, and then they showed some 60% finished apartment units and ran them down as well. I have to admit, I was not surprised by the totally biased reporting (if you can call it that) and I reflected that it would be nice to see a balanced report about “our” coast at least one time on tv, but I guess that won’t sell air-time.
What really bugged me though was that they then – in the same program – switched to the (French) Côte d’Azure and proceeded to show how wonderful it is. With all the fancy Italian sportscars and all the fancy almost-naked models. Never mind that at least as many large hotels (and many more of the fancy girls) there are owned by the Mafia (French or Italian) as in all of Bulgaria, they speak French and that makes it okay. Did you ever swim there in the summer? Yuck!
Ciao for now
Craig
for
Bulgaria Realtor
P.S. Remember, you read it FIRST on
Bulgaria Realtor!
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Posted in Political Theory | No Comments »
Monday, July 13th, 2009
Hi there!
I just read this little bit on a blog – I’ll tell you where in just a minute, but please read this first:
“According to one source, [farm]land values have gone down 20% already in other countries, which would suggest the U.S. is lagging in a farmland price correction. Prices are down 18% in Brazil, 12% on the Canadian prairies, 20-35% in Russia and Bulgaria, and 70% in the Ukraine.”
This is a contrarian approach to the populist theory that farmland is a safe investment. The rationale? Farmland prices are being held up primarily by speculation, and as the speculator goes, so go the prices. Also, the theory that farmland will increase in value as the world population increases MAY be an ultra-long-term truth, but speculation in commodities can also kill that on the short- to long-term.
For me, the only reason to buy farmland is as an investment that you are going to work as a farm! And that comes with it’s own large family of speculation attached. Not a sure thing!
Oh – the quote comes from a blog called “Seeking Alpha” and you can find it at http://seekingalpha.com/article/148224-13-agriculture-myths-busted-this-bubble-is-ready-to-pop. It makes a fun read as long as you’re not heavily invested in farmland. :-D
Ciao for now
Craig
for
Bulgaria Realtor
P.S. Remember, you read it FIRST on
Bulgaria Realtor!
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Tags: Agriculture, Arizona Politics, Brazil, Bulgaria, Bulgaria Realtor, Bulgaria Realtor Blog, Canadian Prairies, Censorship, Commodities, Conservatives, Contrarian Approach, Craig, Craig Hesser, Dung, Farm Hub, Farm Land Values, Farmland Prices, Fun, Good 2004, Hypocrisy, Investment, Jimmy Craig, Jimmy Craig Hesser, Jimmy Craig Websites, Lagoa Dos Patos, Land Values, Little Bit, Myths, Rationale, Realtor, Retail Store, Russia, Sediments, Seeking Alpha, Speculation, Speculator, Sure Thing, Truth, Ukraine, Urban Farm, World Population Increases
Posted in Real Estate Market | No Comments »
Wednesday, June 24th, 2009
Hi there!
I don’t expect that you remember the US radio program called “Now is the Hour”, and it’s not important that you do. What is important is that you read this and take note – it can be very important for you!
As you probably know, I’m in Bulgaria with Elena now, and we have discovered the following. The real estate market for the Bulgarian central Black Sea resort area is bottoming out. What does that mean for you? Well, here’s the way we see it.
Now is the time to start looking very seriously for the property you want to buy in our area – Nessebar-Sunny Beach-Sveti Vlas. Why? Because there are other people already looking – yes, looking for bargains, but also looking to find that one property that is exactly what they want at the best price they are likely to get – ever!
If you wait much longer, the desirable properties will be sold, and there won’t be any more for some time. And at today’s prices, maybe never! When the best existing properties are off the market, there will still be the ones that are not so great, and these will tend to put price pressure (= limits or brakes) on new construction. These effects will keep prices from rising rapidly again, but will also result (as we have said before) in the poorer properties potentially being torn down, rather than sold “at any price.”
The difficult part for the moment is the mortgage situation, if you need assistance with your financing. Bulgarian mortgage lenders have put the stops on the business with limits as to how much they will lend (typically 40% of the buying price, maximum), and also with really restrictive interest rates – 12-15% plus the Interbank rate plus signing fees, depending on the type and life of the mortgage. These practices are at odds with many other European countries, and are doing a good job of killing the new construction business here.
Bottom line? If you have the cash, wherever it comes from, now is the time to get your pick of the best properties at the best prices in our area. If you wait, the cream of the crop will be gone.
Ciao for now,
Craig
for
Bulgaria Realtor
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Posted in Real Estate Market | No Comments »
