DLF may exit Amanresorts to focus on properties

India’s largest property firm, DLF, that scaled down ambitions in the hotel
business, following an economic downturn, to focus on core
areas of building homes, offices and shops, is planning various options to fully or partly exit from the international luxury hotel chain Aman resorts that the developer had purchased at the peak of the economic boom in 2007 end. The company has also held preliminary talks with at least two Indian hotel chains, but a huge gap between the buyer and seller’s expectations has played spoilsport for concrete deal discussions.

Founded by Indonesian hotelier Adrian Zecha, Amanresorts is a super luxury chain of resorts usually built with small inventory of rooms to offer exclusivity. The company is known to charge one of the highest average daily room rates that sometimes cross $600. The hotel company owns and manages 23 small luxury resorts worldwide and will open a new resort in Utah, USA, in October, as per the company’s website. It operates three resorts in India — one in New Delhi and two in Rajasthan.

In 2007, Adrian Zecha, announced that he has formed an equal partnership with DLF, which has entered into a definitive agreement to acquire a controlling interest in the Aman Resorts group. DLF, currently, holds 50% in Aman and as per the agreement, would acquire controlling stake in due time.

As per two executives in the hotel industry and one at DLF, the Indian real estate developer’s interest in carrying Aman in its portfolio has whittled given the economic downturn that has substantially pared occupancy levels as well as room rates across the hotel industry.

As per industry estimates, Indian hotels together lost Rs 4,000 crore in revenues due to the economic slowdown and after the Mumbai terror attacks in the last financial year. Following this, few tourists visited India or stayed in five-star hotels and room rates dropped by at least 20-30%.

A senior DLF executive, who asked not to be named, said: “There is surely an interest among potential buyers. They have spoken to us. But it’s just been talks, little else, as their offer price is too low compared with the price we had paid for Aman in 2007.” He did not name the companies that has shown interest in Aman.

But the DLF spokesman denied the company was planning to dilute equity or sell any property of Amanresorts. In the past, while announcing the company’s falling interest in the hotel business, DLF vice-chairman Rajiv Singh had said the company would want to retain Aman as it was a boutique brand.

As per two hotel industry executives, who did not wish to be named, DLF has held some preliminary talks with ITC Hotels. But the ITC spokesman said: “We have made no move” to acquire stake in Amanresorts. But hotel consultants said it makes sense for an Indian hotel company like ITC to bid for Aman since they have no presence in that segment.

Another senior hotel industry executive said DLF could consider an option to hive off Aman properties in Alwar, Rajasthan, and two loss-making properties in Sri Lanka to some investors or hotel chain without the Aman brand.
It is speculated that the realty major spent $200-250 million with plans to get into full-fledged hotel business.

It planned to build around 75 hotels in a joint venture with foreign hotel chain Hilton in India. But following Hilton’s takeover by private equity player Blackstone, Hilton’s interest in hotels with DLF waned. Meanwhile, DLF, too, had started facing cashflow pressures. The two partners scaled down their ambition to just four properties.

In early 2008, the stock market started seeing turbulence and the entire economy took a nosedive following the collapse of US investment bank Lehman Brothers later that year. As demand for homes, offices and shops dried up, property firms were faced with cash crunch. Realtors reprioritised their plans in order to ease cashflow pressure.

DLF decided to sell assets and shift focus from capital-intensive businesses such as hotels to those like homes where revenue could easily be generated. DLF plans to raise Rs 5,500 crore through sale of assets and exit from some businesses such as windpower and township projects in Dankuni, West Bengal and Bidadi, Karnataka.

DLF has already sold its small hotel project in Saket, Delhi. It has put on block over 10 hotel plots across the country, including in Gurgaon and Mumbai. The company has since been able to successfully sell some of its assets.

As per reports, Amanresorts was adversely impacted after 2002, due to the tourism downturn in south-east Asia, following the Bali bombing and other disaster since a large chunk of its resorts are in Asia. The current economic slowdown, which significantly reduced business and leisure travel, has hurt all luxury and five star hotels.

Planning the Perfect House

Planning the perfect house in which you can peacefully and serenely reside may seem quite complicated. But, achieving this little piece of heaven may be easier than you think; especially if you consciously strive to discover the most important things that are currently missing in your life. This concept proves the importance of house plans; you can't incorporate a spirit lifting improvement in your home without first identifying what that something is.

Try to picture, for a moment, a large multi-windowed living room which is being flooded with indirect sunlight. As you quietly recline in your deeply upholstered arm chair, you can't help but be drawn in by the exquisitely flowering garden that was conveniently planted right outside of the living room windows. There are roses, lilies, rhododendrons and hydrangeas. The fireplace, clothe with dancing flames, provides the small amount of heat that may be needed on a cool summer's night. Does this sound enticing, or what? Just think, this indescribable beautiful room is right inside your own perfect house.

What a nice coincidence? No way! Nothing worthwhile just happens. The importance of planning the perfect house can not be stressed strongly enough. Building a home is a process that needs to be carefully outlined with a specific plan that will smooth out all the construction phases of your home. What a tremendous pick-up it would be to walk into such a room. However, this scenario can become a reality only if you know the full importance of planning the perfect house.

And, to help you sell your other house in the fastest, most reliable and least expensive way, don't forget to list it on a Flat Fee MLS system.

John is the author of Flat Fee MLS articles for Flat Fee MLS Listing. You can find more information at Flat Fee Listing.

Article Source: http://EzineArticles.com/?expert=John_R_Roberts

Architectural Ironmongery Products and Materials

The term Ironmongery represents the iron items that are used in buildings and structures. These things are used for a number of different purposes. The most frequent use of these items is in banisters, handles, and railings in buildings. There are an array of different products and materials for ironmongery that are used as fixtures and fittings in buildings.

In Ironmongery, there are lever handles, pull handles, gate latches, bolts, hinges, locks, knobs, holders, restrictors, door openers, and many other different kinds of equipments. High quality iron is used for making lever handles that are meant to be corrosion resistant. These handles are available in different kinds of designs and sizes depending upon the needs and requirements of the buyer.

Latches are available for all kinds of gates and these latches can also be custom made according to the specifications of the buyer. High-grade iron is put to use for making towers and Breton bolts in which the threads of the bolts is paid high attention in terms of precision and quality.

Hinges in different designs and sizes are available for use in doors, cabinets, and windows. Other than door hinges, front hinges are also available at many stores for different uses. Manufacturers specify endurance test for ironmongery products, and the products should confirm to this test to verify that the product is of good quality.

The main types of Ironmongery, in terms of sales falls in hinges, door closers, and locks. When buying the hinges, it is important to consider the kind of conditions in which the construction is being done. This means that the coating of the hinges should be able to withstand ambient weather conditions and should not deteriorate. Different kinds of product finishes are available for different kinds of places, for example the seaside.

The locks also need to fulfil certain conditions in order to be good for buying. First is the fact that the door lock should ensure quality security conditions. The finish should also be the right one and resistant to weather. When it comes to door security, the different kinds of products that are available are door viewers, door restrictions, door chains, and many others.

Door handles come mainly in brass and chrome and vary in the design and size. Window security and equipment is also available and falls under the category of architectural ironmongery. Products made from black antique iron are also very popular products, and people often use products made of antique iron in different places of the building.

Draught and rain excluders are other very popular products. There are also Escutcheons, which serve the purpose of not only offering security, but also decorating the door. Fingerplates are also used in homes and offices and serve the purpose of decoration. Knockers and letterboxes are also available with many sellers and they are made in different materials including antique black iron. There are also drawer pulls, doorknockers, and signage made from iron, which are good for conveying important instructions on doors and other places.

Paul J Coleman is an Engineer. Check out this site for a range of Anti-Ligature and general Architectural Ironmongery products.

Article Source: http://EzineArticles.com/?expert=Paul_J_Coleman

Choosing a contractor ranks right up there with choosing a business partner

Choosing a contractor ranks right up there with choosing a business partner. For better or worse you are entering into a relationship with high stakes and even higher consequences. There are countless stories about promises made but not kept, materials suppliers not having been paid and jobs left in limbo because of disputes between owner and contractor.

Here are some initial questions to ask yourself when you are considering whether or not to consider a particular contractor.

Is the contractor licensed by your state or locality? Licensing determines that the company or person is indeed a contractor and helps to establish that they have met some basic requirements. It's not a guarantee but it does mean you should have fewer things to be concerned about.

Does the contractor have experience doing the kind of work you want to have done? If you want some plumbing fixtures replaced then hiring an electrician that happens to need the work may electrify you in more than one way.

Is the contractor organized? If you have to call and leave repeated messages and endure excuses when all you're trying to do is get an estimate then don't expect anything different after you hire them. There is such a thing as a contractor who is too busy and they can cause you just as much heartburn as one who is not busy at all.

Will the contractor spell out the details of the job? Arm waving and penciling ideas on napkins are good starting points but they don't make for a well-thought out plan that will be predictable in terms of cost and quality. You want someone who will pay attention to the details because that's one of the biggest reasons you hire a contractor in the first place.

Is the contractor's experience verifiable? Are there completed jobs you can go look at? Can you talk to former clients? Are there contractor or builder associations where the candidate is active? Can you talk to the contractor's material suppliers?

All of these things can help to give you a very good idea about the stability and experience and professionalism of a contractor. You owe it to yourself to begin your building project on the right track. This is not the place to cut corners so take the time to get to know your potential new business partner.

Article Source: http://EzineArticles.com/?expert=Stephen_Hann

Building and Remodeling Challenges

Building and remodeling both come with their own sets of challenges but, for many consumers the costs associated with a building project seem mysterious. On top of that there is the surprise factor that creeps into the process as people see the real costs of the things they like. Let's face it, quality things cost more and everybody likes quality.

The strange thing about building costs is how little people really know about them. Most people would expect to pay a lot more for a Lexus than they would expect to pay for a Chevy Cavalier, yet many of the same people are surprised to find out how much more an Anderson window costs than a builder's window. To give you some ideas about the differences in costs of just a few items take a look below.

*A beveled glass entry door could cost $1000 more than a steel, panel entry door.

*A quiet range hood could cost double what an economy range hood costs.

*Spa tub faucets can start out at 10 times the cost of standard tub faucets.

One of the things you can do to help you get costs in perspective is to take a trip to a building supply store and spend some time looking at the things you would like to have compared to similar things that cost less. Go to some housing developments and tour some homes. Look closely at the details of the homes and the materials that are used. Compare how you "feel" in one home when compared to another. Then compare the costs of the homes.

It won't be long before you'll begin to have a better understanding of what it is going to cost to build something that suits your style.

Article Source: http://EzineArticles.com/?expert=Stephen_Hann

Regardless of all the safety nets we have in place for everyday life

Regardless of all the safety nets we have in place for everyday life, there is no escaping that living is a dangerous proposition. People routinely make critical mistakes in how they interact with their environment and those mistakes lead to injury and often to death.

I have often wondered why it is that thoughts of safety are not the very first thought in our minds whenever we consider doing anything. Especially in construction the dangers are magnified just as they are in other heavy industries.

Of course, attitude is really the biggest killer. It's the attitude that "Nothing can hurt me," or, "It won't happen to me." So, people routinely take chances like working without safety glasses or dust masks. But the other big one is just plain not paying attention. Last month alone at least two people fell to their deaths on construction sites because they forgot where they were and made a wrong step in the wrong direction. These are mistakes that you can't recover from. Once that foot is set to come down on a hard surface, but instead comes down on air, you're going over the edge.

As we venture into the New Year it's a good time to reaffirm our commitments to working safely. I encourage all of you to review your programs and see where they may be lacking, or where they have lost their luster, and then breathe new life into them. It's only through constant reminding that we stand a chance at making safety the first thought.

Article Source: http://EzineArticles.com/?expert=Stephen_Hann

surprising strength shows on Home sales in December

Sales of existing homes posted an unexpected increase last month, as sales of bargain-basement foreclosures in California and Florida boomed, closing out the worst year for the U.S. real estate market in more than a decade.

Analysts, however, cautioned that prices are likely to keep falling through 2009, and said the outlook for home sales is highly uncertain, despite a boost from low mortgage rates.

“I don’t think we’re close to a bottom yet,” said Michelle Meyer, a Barclays Capital economist who sees nationwide prices falling another 15 percent this year. “We’re still very far away from a normal housing market.”If President Barack Obama’s administration enacts a plan to keep borrowers in their homes, Meyer said, that might stop some foreclosures from flooding the market, but it’s still unclear how successful any government efforts will be.

Sales of existing homes rose 6.5 percent to an annual rate of 4.74 million in December, from a downwardly revised pace of 4.45 million in November, the National Association of Realtors said Monday. Without adjusting for seasonal factors, sales nationwide were up 1.1 percent from a year earlier, reflecting a surge of more than 36 percent in the Western states.

The nationwide median sales price plunged to $175,400, down 15.3 percent from $207,000 a year ago. That was the lowest price since May 2003 and the biggest year-over-year drop on records going back to 1968. With sales of foreclosures and other distressed properties making up about 45 percent of sales, many economists expect prices to keep falling.

For all of 2008, there were 4.9 million existing home sales, down more than 13 percent from a year earlier, and the lowest total since 1997.

Making matters worse, layoffs continue to accelerate as the recession deepens.

Home Depot Inc. said Monday it plans to eliminate 7,000 jobs while closing four dozen of its smaller home improvement stores. Sprint Nextel Corp. said it is eliminating about 8,000 positions as it seeks to cut costs.

Experts say that when the housing market turns around, price increases are likely to be modest.

“We have another year to go of soft home prices, primarily at this point because of the recession and job losses.” Norm Miller, a real estate professor at the University of San Diego, said in an interview last week.

One encouraging sign — the number of unsold homes on the market in last month fell nearly 12 percent to 3.7 million, the lowest level since January 2007. At the current sales pace, it would take 9.3 months to sell all the properties, down from 11.2 months in November.

However, Patrick Newport, an economist with IHS Global Insight, noted that the Realtors’ group tends to underestimate the inventory of homes on the market because many foreclosures are sold through auctions.

Lawrence Yun, the trade group’s chief economist, called on lawmakers to include tax credits for home buyers in the economic recovery package being considered by Congress.

He said, “The economy just simply cannot recover as long as home prices continue to decline.”

Fannie Mae may need another $16 billion in aid

Mortgage finance company Fannie Mae said Monday that it likely needs up to $16 billion from the government as conditions in the U.S. housing market continue to deteriorate.

Fannie Mae’s disclosure that it expects an injection of $11 billion to $16 billion in taxpayer aid comes after sibling company Freddie Mac disclosed last week that it’s likely to require as much as $35 billion in federal support on top of the $13.8 billion it received last year.

Fannie, which has yet to receive any government aid, said in a Securities and Exchange Commission filing that the actual amount needed “may differ materially from this estimate” because its fourth-quarter financial statements are still being prepared.

Home prices drop by record pace in November

Jacquie Jacobs has lived in San Diego all her life, and finally now, she can afford to buy a house there. That's the bright side of plunging home prices.

"I love it here, but for so long it's been out of my reach to buy a home," said Jacobs, a 32-year-old utility inspector.

Not anymore. San Diego home prices fell nearly 26 percent year-over-year in November, according to Standard & Poor's/Case-Shiller housing index released Tuesday. And with mortgage rates near historic lows, Jacobs, who says she has good credit and a small down payment, is taking a stab at homeownership.

Home you save could be your own

Luis Molina is not a lawyer and he has never played one on TV.

But that didn’t stop him from putting on his best suit, marching into a Miami courtroom this month and going up against an attorney with 30 years of experience to stop a foreclosure proceeding against his family’s home. Molina did such a good job of representing himself that the judge in the case thought he was a lawyer and punctuated his ruling in Molina's favor by tearing up the other side’s motion for summary judgment and throwing it over his shoulder.

“I felt like a million dollars,” Molina told msnbc.com, describing his day in Judge David C. Miller's courtroom in Florida’s 11th Judicial Circuit Court. “I felt like if there was anything in my life that I had done correctly, it had to be that. Every single lawyer after the fight came over and shook my hand.”

Both parties suddenly move to aid homeowners

Four months after Congress tried to rescue the economy with a $700 billion bailout for the financial industry, Republicans and Democrats are suddenly competing to bail out financially struggling homeowners.

Having spent hundreds of billions of dollars rescuing financial institutions, only to see the economy spiral even deeper into crisis, liberal and conservative economists and lawmakers are pushing to redirect the economic stimulus bill to what they say is the core problem: the housing market.

Senate Republicans are seeking new tax breaks and up to $300 billion in mortgage subsidies to attract homebuyers. Democrats want to spend at least $50 billion on federal programs aimed at reducing mortgage foreclosures.

sales at slowest rate on record On New homes

Sales of new homes plunged to the slowest pace on record last month as the hobbled homebuilding industry posted its worst annual sales results in more than two decades.

The Commerce Department said Thursday that new home sales fell 14.7 percent in December to a seasonally adjusted annual rate of 331,000, from a downwardly revised November figure of 388,000.

“This is an awful report. ... Builders just can’t cut back fast enough, so prices remain under downward pressure,” Ian Shepherdson, chief U.S. economist for High Frequency Economics, wrote in a research note.

post increase of 6.3 percent in Pending home sales

Buyers wade back into market as prices fall along with mortgage rates

An index that tracks signed contracts to purchase existing homes rebounded in December, as buyers snapped up properties at deep discounts, especially in the South and Midwest.

It was the second positive sign in the past two weeks for the troubled U.S. housing market, and may indicate that a bottom is forming — at least for home sales. Analysts, however, caution that prices are likely to keep falling through 2009, and say the outlook for home sales is uncertain, especially as layoffs mount and banks’ lending standards remain tight.

“Buyers are dipping their toes back into the housing market, but they have yet to really take the plunge,” wrote Joel Naroff, chief economist with Naroff Economic Advisors.

Building a Green Home - Six Ways to Save Energy (and Money)

There are many areas where you can experience significant energy savings when you are building a green home. By working with an architect in the early design stages, many of these areas can be addressed in the design of your energy efficient home, helping you to save money in the future and enjoy a healthier home:

1) Footprint: Reduce the size of your home. Your home design should be limited to only as much space as your family needs. This will keep your energy usage to a minimum right from the start.

2) Windows: Windows are a break in the thermal insulating barrier of your home. The higher quality window you choose the better performance the entire home will achieve.

3) Insulation: Even if you do nothing else, by choosing a superior building envelope for your home like structural insulated panels (SIPs panels) and/or an insulated concrete form foundation system (ICF), you will enjoy huge savings in heating and cooling your home (up to 50%-60% over a home without SIPs).

4) Passive solar design: By incorporating sunlight for lighting and heat and natural ventilation into the basic home design, you can reduce the size of mechanical systems and lighting in the home.

5) Heating system: Consider a renewable energy system to heat and cool the space and tap water in your home (solar, wind, geothermal).

6) Ventilation: Incorporate an air-to-air exchanger, or heat recovery ventilator (HRV) system into your home. This will replace stale air with fresh outdoor air while maintaining the temperature inside the home and conserving energy.

There are many other areas of the home that can be addressed to increase energy efficiency and save money over the life of your home. In the beginning stages of the home design, your green architect will discuss your opportunities to save money while providing a healthy environment for your family.

About the Author: Jeremy Bonin, a principal partner of Bonin Architects & Associates http://www.boninarchitects.com, is an award-winning green architect and the author of TIMBER FRAMES: Designing Your Custom Home. With a special interest in sustainable design and green homes, structural insulated panels (SIPs), as well as timber frame construction, Jeremy incorporates renewable energy practices where possible, including geo-thermal, solar, radiant heat, and energy-efficient foundation systems.

Article Source: http://EzineArticles.com/?expert=Jeremy_Bonin

Geographic Micro-Markets in Real Estate

When seemingly endless statistical reports show steadily declining home values, it is essential to analyze geographic micro-markets to properly assess the value of residential properties. Although many media and data tracking sources will often cite national declines in median housing prices, a significant number of areas, or micro-markets, will simultaneously experience an increase in home values. So how does this micro-market phenomenon repeatedly occur with each turn of the real estate cycle?

As if the old adage of "location, location, location" needs to be repeated ad infinitum, prospective home buyers will attempt to reduce the stress and confusion associated with house shopping by focusing solely on the amenities offered in each home. Unfortunately, when determining the value of a home, features like granite countertops and floor coverings are relatively insignificant when compared to the quality of the neighborhood in which a home is located.

In support of this point, both government assessors and private appraisers utilize the "comparable sales approach" to determine the value of a property. According to this method of valuation, the sizes and prices of homes sold in the surrounding neighborhood are analyzed to determine the worth of the subject property. Some weight will be attributed to the degree of features included in a house, but the value that amenities typically contribute towards a home's determined worth is relatively nominal. This explains why a discrepancy in price between identical homes located in different geographic micro-markets can often amount to hundreds of thousands of dollars, while a home with unsurpassed amenities may be worth only thirty thousand dollars more than the basic home of similar size across the street.

Housing boom markets often cause home buyers to disregard the importance of location and concentrate only on how much house and how many amenities they can get for the money. Why worry about location when housing values will undoubtedly continue to increase in every neighborhood? It isn't until the boom bubble bursts and prices begin to decline that buyers become weary and truly start to analyze whether their prospective purchase will amount to an appreciable investment in the future. As a result, buyers will start to purchase only in quality neighborhoods. They bypass those areas teeming with rental homes, bank owned foreclosures, and desperate owners and builders rapidly dropping sales prices to compete while driving down the neighborhood's comparable home values in the process.

Consequently, home values in quality neighborhoods are stabilized and eventually increased due to heightened demand generated by these selective buyers steadily reducing the available supply of homes for sale in desirable areas. So despite computer generated statistical reports showing national price declines, stable micro-markets are created, begin to appreciate, and the wheels of the real estate cycle go around and around.

About the Author:
Brian S. Icenhower, Esq., BS, JD, CRB, CRS, ABR, a California Association of Realtors Director, practicing real estate attorney, a real estate expert witness and litigation consultant, a prosecution consultant of Tulare County District Attorney Real Estate Fraud. He may be contacted at bicenhower@icenhowerrealestate.com, or http://www.icenhowerrealestate.com

Article Source: http://EzineArticles.com/?expert=Brian_Icenhower