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Real Estate Advisor asked:


Based on several factors that include lifestyle, retirement, opportunities for fun and investment, International Living magazine has chosen the world’s seven hot spots for 2007. Still virtually unnoticed by the world’s tourists, these seven regions are the best international real estate markets in 2007. They are:

1. Montenegro: This spectacular European country on the Adriatic Sea that many have almost forgotten has topped the list of best international real estate markets. The aquamarine sea, enthralling mountain backdrop, captivating summer villas and quaint fishing villages are just a few features of this jaw-droppingly beautiful country. An ideal tourist spot, this country has been adjudged the ‘fastest growing travel and tourism economy’ by the World Travel and Tourism Council.

2. Cartagena, Colombia: This is an ancient walled city embellished by magnificent Spanish colonial architecture and flanked by white-sand beaches. The city offers a warm weather, affordable lifestyle, and world-class diving and snorkeling for tourists and locals alike.

3. Malaysia: Southeast Asia’s top retirement haven, country is a very affordable destination. Malaysia offers a western lifestyle and a host of attractions including modern infrastructure, cheap accommodation and innumerable cultural charms. Its beautiful white beaches and clear blue waters offer sailing, diving, snorkeling, etc.

4. Calabria, Italy: A sunniest corner of Europe, Calabria is a beautiful peninsula that is enveloped by clear silver-blue sea on three sides. Life happens in a very leisurely manner in this place that possesses all the charms of a medieval village. A promising real estate market, the region is well connected by the low-cost Euro-carrier RyanAir.

5. Ciudad Vieja, Uruguay: This is another of the world’s inexpensive cities that remains undiscovered yet. The city has seen a booming real estate market since 1995 and the upward trend is sure to continue through 2007 too. Also ranked as one of the top 10 cheapest cities in the world last year, Ciudad Vieja remains one of the best places to invest this year.

6. Honduras Cloud Forest: With acres of mountain forests of breathtaking beauty, this mountain paradise is just minutes from a charming beachside town and an international airport. One can access this town by air in less than 2 hours from many places in the U.S. With the area poised for a real estate boom in a few years down the line, now is the time to buy.

7. Mexico’s Flamingo Coast: An enticing stretch of coastline with dozens of quaint little beach towns, side-by-side, the Flamingo Coast offers great beachside living and a laid back lifestyle. Its warm weather, white sandy beaches, emerald-green waters and cheap rentals are some of the attractions the region offers.

Real Estate Advisor asked:


If you are considering purchasing or selling a home, condo or any other type of real estate, you will most likely need the services of a real estate appraiser. An appraiser performs an assessment of properties and other types of real estate to help establish its value. While there are several methods appraisers use to establish the value of real estate (e.g. cost method, income method, and comparison method), for residential properties, the comparison method (also known as market value) is the most common approach. The appraiser’s job is to provide an opinion about the value of a property based on its “highest and best use.” If you are financing the purchase of a property, your lender will normally require an appraisal to make sure that the property is really worth the amount loaned.

The real estate appraiser is tasked with carrying out a completely objective assessment of a property and will normally provide a written evaluation report. This is accomplished by a physical inspection of the property, as well as a comparison to other similar properties for which the value is already established. To make a determination about value, the appraiser gathers details such as the size of a property, size of the lot, location, condition, best use of the property, amenities, etc.

After this initial inspection, the appraiser may scout the neighborhood to compare the property with other similar properties in the neighborhood by age, size, price range, etc. The appraiser then gathers additional data from several sources such as the local Multiple Listing Services (MLS), which provides information on current and recent comparable sales. The appraiser also gathers information from his/her own past experience in the local market. All of these sources of information are taken into consideration while writing the appraisal report, which will provide an estimate about the value of a property.

There are many reasons to use the services of a qualified appraiser. When purchasing real estate, an appraisal provides you with a negotiating tool and helps ensure that the price you are paying is appropriate. If you are selling your property, the appraisal will help you determine an appropriate price range. Besides real estate and mortgage transactions, you may need to order an appraisal to lower the tax burden (assuming the value is really lower than the value established by taxing authorities), to establish the replacement cost of insurance, to settle an estate, etc. An appraiser only gives an estimate of the value of the property. A real estate appraiser is not to be confused with a home inspector.

If you are considering buying or selling a home, condo or any other type of real estate, you can use the services of a qualified real estate appraiser who will provide an estimate of the fair market value of your property.