This is expected to bring in a revenue stream of roughly $500,000 in franchise fees across both brands. This appears to be a strong bet by Brookfield that the brokerage services market will have a reasonably strong 2012, that their new franchisees will be able to retain agents, and that the longer term looks favorable for the real estate market.

According to a joint letter issued by FIABCI World President Alexander Romanenko and ICREA Chair Alan Tennant, bringing the two organizations will also help enhance the chapter network while better facilitating the delivery of products and services to constituent members. Furthermore, by joining forces, the organizations will be better capable of representing the interests of the global real estate industry while also advocating for real property rights.

Following a meeting of board representatives from both organizations, it was determined that a detailed analysis of the integration process will take place. While members of both organizations still need to be consulted, it is likely that the branding for the international real estate federation will utilize properties from both the FIABCI and Worldproperties brands.

Once the details have been finalized, member organizations will receive a document containing a detailed outline of the concept. Member organizations will also receive a proposed model for the full integration of the two organizations. At this time, they will be asked to provide feedback and comments on the proposed changes. The ICREA and FIABCI will use the feedback to prepare a follow-up document, which will then be presented to their respective memberships for further discussion.

Workgroups from both boards have expressed a commitment to include members as much as possible in the integration of the two organizations. While the boards are committed to moving forward, they want to be certain the decision is based on consensus and agreement of the membership within both organizations. A final decision regarding the integration and how it will take place is not expected to be made until December.

When I started my real estate career, I could not have dream that I would soon come to specialize in International real estate.  To some extent, I stumbled into it and to another extent, it found me and drew me in.  The real estate industry offers so many options as to areas in which to specialize.  Why this?

A few years ago, I attended a class on introduction to International property sales.  This lead me to attain my TRC, then my CIPS and then on to joining FIABCI, the International Real Estate Federation.  Before long, I discovered that my local Denver Board of REALTORS® and Colorado Association of REALTORS® had International committees which I could join and participate in.

One thing has led to another and I find myself deeply involved in all of the above by holding Committee and Board of Directors positions for several local and International organizations.  In addition, my team now specializes in inbound International and relocation sales. And, we’re growing.

The thing I love about this niche is I love it.  I get to travel and I find it deeply rewarding both professionally and personally.  You never know what’s around the next corner. International sales opportunities exist everywhere, everyday, and we just need to be aware, receptive and motivated.

So, when you’re looking for your next career changing opportunity, think big, think bold, never say never, and don’t forget to look around you.  Your next big ticket could be waiting for you just footsteps away and well within your reach.

“The government is determined to achieve its target with absolute transparency while safeguarding the public interest, promoting reforms and restructuring in sectors that can contribute to growth and competitiveness,” said the finance ministry in a statement.

As part of the process, the ministry’s special secretariat for asset restructuring and privatizations will appoint new advisors. These advisors will be responsible for completing a quantitative and qualitative inventory of state-owned real estate assets, a process which is expected to be completed by June of next year. Furthermore, the finance ministry intends to utilize the fast-track investment laws to assist with the development of the old Hellenikon airport. The ministry will also take a closer look at its mature public real estate assets. Other steps the ministry is prepared to take in order to repay its debt is to extend the concessions of the Athens International Airport, to sell a stake in the natural gas network operator DESFA, to sale a stake in natural gas supplier DEPA and to look for a strategic investor for its Hellenic Defence Systems (EAS). The country is also planning to sell 11 of its regional airports, extending its concessions for Attiki and Egnatia motorways and unbundling its Loan and Consignment Fund.

Since tourism has long been an important source of funding for the country, the ministry also intends to take steps to help boost the tourism industry. One step will be to develop marinas close to 850 regional airports.

According to figures tracked by John Burns Real Estate Consulting, which is based out of Irvine, California, Canadians supplanted Californians as the biggest buyers in the county from December 2009 through to June of this year. Arizona isn’t the only place seeing a large number of Canadian buyers, however, as Jed Smith, who is the managing director of quantitative research for the NAR, has also reported that Canadians have significantly increased their presence in the United States real estate market. Consider these findings:

• Canadians accounted for 11% of foreign homebuyers in 2007
• From April 2007 to April 2008, Canadians accounted for 24% of foreign buyers
• From April 2008 to April 2009, Canadians accounted for 17% of foreign buyers
• From April 2009 to April 2010, Canadians accounted for 23% of foreign buyers

As a result, the NAR is reporting that Canadians have been the top foreign buyers over the last three years, followed by Mexican, UK, Chinese, German/French, Indian and Argentinean/Brazilian investors.

In addition to leading the pack in terms of foreign buyers, Canadian buyers also tend to make different types of purchases than those bought by investors in other countries. While foreign investors typically invest in upper end homes, Canadian buyers tend to purchase more in the $200,000 range. Since prices have dropped significantly in western states, many Canadian buyers are finding these homes to be more within their price range. With most Canadian buyers coming from big cities where homes are quite costly, being able to purchase a vacation home in an area where homes can be purchased for $100,000 to $200,000 is a deal that is difficult to resist.

Of course, the fact that Canadians are outpacing Californians when it comes to purchasing property in Arizona is not all due to the fact that prices are low. Another contributing factor is the fact that California has also been hard hit by the recession. As a result, fewer Californians are in the position to sell their homes in order to move to another state.

“It’s our first speculative project in the U.S. in two years,” said Walter Rakowich, who is the chief executive of ProLogis, in a recent Denver Post article. “The L.A. market has tightened to the point where it makes sense to put a shovel in the ground.”

Rakowich went on to say that he expects to see the company’s growth continue into next year. In fact, he is predicting that as much as $1 billion will be put toward the new development.

“Most real estate companies are still hesitant to pull the trigger on new development,” said Rakowich. “That’s our opportunity.”

At the time when Rakowich took over as the chief executive in November of 2008, the company’s stock had reached a low of $2.60 per share. This was quite a significant drop when compared to the $60 per share price that was on the stock earlier that same year. Recently, the stock has started to rebound and is now trading at about $13 per share.

“I still remember his mantra at the time,” said James Sullivan, who is an analyst with New York-based Cowen and Co., which covers ProLogis. “He was going to bring a laser focus to the balance sheet and the effort to reduce debt and ensure the company would not just survive but thrive going forward.”

To make this happen, the company had to sell off its assets in China so it could pay down its debts. In addition, the company was forced to close down its operations in Brazil, India and Dubai.

“We didn’t see the opportunity there for the foreseeable future,” said Rakowich in reference to the markets where operations were shut down. “We didn’t see ourselves deploying capital in a capital-constrained market.”

Although the company is starting to turn around and to expand, it is still selling off some of its assets in order to pay down its debts. In addition, the company is taking steps toward leasing projects that were set into motion while former CEO Jeff Schwartz was still in his position.

“Late in the Schwartz reign, they had a very large development pipeline,” said Sullivan. “They were blowing and going and doing a lot of development throughout the world. When the downturn hit, they were left with a big development pipeline that had a lot of financing on it at a time when it was not easy to get financing renewed.”

Just a month after Rakowich took over his position, the company sold its China assets. Rakowich then led the company on an aggressive international expansion campaign, which focused primarily on Asia. Today, Schwartz is the chairman of Global Logistics Properties, which has formed a joint venture with Government of Singapore Investment Corp. and intends to acquire the ProLogis operartions in China as well as the remaining property funds in Japan.

“Walt’s got a strategy, and he’s done a nice job of executing the strategy he chose,” said Schwartz. “Walt’s good at what he does.”

Currently, ProLogis is working toward disposing of its mixed-use and retail properties, which it required in 2005 after completing a $5.3 billion merger with Catellus.

“We’re at a point where we’ve decided to part with them and go back to our industrial roots,” said Rakowich. “Our strategy is to do one thing and to do that one thing really well.”

“The new policy, the most stringent on property purchases by foreigners so far in China, is in line with the country’s latest tightening measures to rein in property speculation,” Yang Hongxu from the Shanghai-based China Research and Development Institute told the Shanghai Daily.

By putting these new regulations in place, the Chinese government hopes to stop investors from purchasing apartments and forcing property prices to rise.  According to analysts, however, the new restrictions are not likely to have much of an impact on Chinese property prices, as foreign investment only accounted for about 0.8 percent of property purchases last year. Nonetheless, this recent move by the Chinese government only further demonstrates that the country is concerned about the possibility of the market overheating. Considering the fact that prices have gone up by 20 percent in Shanghai, which is an investor-friendly market, it is easy to understand the government’s concern.

“Policy makers are trying to put on the brakes on capital inflows, similar to what had been announced back in 2006,” Remy Chan, who is the managing director of CBD Commercial Investment Management, told the Wall Street Journal. “How these rules are implemented is another matter, and if these rules are followed to the letter, there could possibly be no foreign investment in commercial property at all, but I have my doubts. The mature players will always find exceptions.”

Due to the significant increase in lending, the construction industry has actually outpaced the country’s GDP. Still, experts do not believe the growth is just the beginning of a bubble of unsustainable growth. This is largely because experts believe the country has learned from the mistakes that have been made by other countries throughout the world.

“Brazil is not the US and neither is Bulgaria, Spain or Dubai. Whilst US banks granted up to 130% loan to value, in Brazil these rates are being curbed to a far more sensible average of 60%. Meanwhile, whilst the booms of Bulgaria, Spain and Dubai were fueled by, and dependent on, foreign speculators and holiday home hunters, the future of Brazil’s property market is assured by its own population,” said Samantha Gore, who is the sales manager for uv10, in a Property Wire article. “Brazil’s Real Estate Developer’s Association states that eight million families, or 30 million people, do not have their own house to live in and are currently renting sub-standard accommodation. This need, along with subsidized mortgages for Brazilians, will generate demand for new homes for at least the next 15 years.”

Experts go on to report that the growing middle class is enjoying greater access to mortgages, which has resulted in an unprecedented amount of house buying in the area. As such, experts believe this demographic provides the best profit potential.

“We work with a 20 year established developer who offers off plan properties well under market value to foreign investors as they pay in full more quickly,” continued Gore. “This enables the developer to seamlessly roll funds into his new project. They will also, with the help of a network of local agents, either organize the resale of your property to the local market or rent it out with or without a rental guarantee. As we’re talking about city center locations, neither the market price nor rental income is speculative but instead reflect thorough market studies.”

Currently, the company is offered units in Edificio Dr Geraldo Furtado in Petropolis, which is in northeast Brazil, at 20% below market value prices with an optional four year 5 percent rental guarantee.

One of the primary areas of concerns within the Canadian housing market is that of housing starts, which slowed for the fourth month in a row in August. In fact, starts fell by 3 percent in August, with the seasonally adjusted rate in August being 183,300 compared to 188,900 in July. Furthermore, Statistics Canada is reporting that Canada’s new housing price index fell to 0.1 percent in July, which represents the first decline over the past 13 months. This decline is, however, in line with the 185,000 that had been forecasted by analysts. Additionally, considering  that there has been a decline in the value of building permits over the last four months, analysts were aware this drop would also be coming soon.

“The report shows that despite a litany of headwinds, there is still a fair degree of forward momentum in Canada’s housing market,” said David Tulk, who is the senior micro strategist at TD Securities, in a Vancouver Sun article. At the same time, he cautions that “markets should be prepared for a volatile couple of months ahead before the tone of the data improves.”

Both major areas of the Canadian housing market are feeling the pinch, with starts for single urban homes dropping by 3.6 percent to 65,000 units and urban multiple starts experiencing a drop of 3.7 percent to 97,800 units. Still, despite predictions for some rough months ahead, analysts are not concerned that the Canadian housing market is on a bubble at risk of bursting.

“The risk of a 1990s-style housing market correction are minimal,” wrote David Onyett-Jeffries, who is an RBC economist. “Much of this slowing represents a payback from earlier unsustainable strength.”

In other words, analysts believe the current decline is mostly the result of rate hikes implemented by the Bank of Canada as well as because homebuyers are working toward getting ahead of the harmonized sales tax that has been implemented in Ontario and B.C. As such, analysts predict the housing market will continue to soften throughout 2010 and possibly into 2011 as well.

“Over the next few quarters, we forecast housing starts to continue to ease, down near 170,000 units in the fourth quarter, and bottoming in the 150,000-160,000 range by mid-2011,” said Pascal Gauthier, who is the senior economist at TD Economics.

When looking at various regions throughout the country, the results are mixed. In the Atlantic region, housing starts were down by 29 percent, while starts were down by 19.9 percent in the Prairies and by 17.7 percent in Quebec. In British Columbia, on the other hand, starts were up by 26.4 percent while starts were up by 15.6 percent in Ontario.

The Real Estate Jobs and Investment Act (H.R. 5901), which easily passed through the House of Representatives on July 30 of this year, will effectively make U.S. real estate trusts a more attractive investment for foreign investors. How? Simply put, the new act will double the amount that a foreign citizen can invest in a Real Estate Investment Trust (REIT) before getting hit by the costly capital gains tax.

A REIT is a specific tax designation provided to corporations that are investing in real estate. The designation helps to reduce or even eliminate the company’s corporate income taxes. In return for this perk, the REITs must distribute 90% of their income, all of which is taxable, among investors. As such, REITs were designed to have a structure for investing in real estate that is similar to the way mutual funds are used to invest in stocks. REITs may be publicly or privately held, with public REITs being listed on the public stock exchange in the same was common stock is shared.

As it stands right now, only those foreign investors who own five percent or less of a REIT are exempt from being taxed. Obviously, this cap has long stood as a bit of a deterrent for those investors who might be interested in investing more than 5%, as making a larger investment will result in a loss of money in the form of taxes.

“Under current U.S. tax law, foreign investors generally do not pay capital gains taxes when they sell stock in a U.S. corporation,” states the executive summary of the notes for the Real Estate Jobs and Investment Act. “Foreign investors with a stake in [REITs]…are taxed more heavily.”

The new bill, which was originally introduced by Rep. Joseph Crowley (D-NY), hopes to bring more equality to how taxes are charged against foreign investors. It passed in the House by a wide margin of 402-11, but it still needs to be approved by the Senate before it will go before the President for his final approval.