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It isn’t really easy to choose the best life insurance in the market. As you read about them they will get more and more competitive and everyone seems much better than the other. You really get confused and are unable to make the right decision to choose the correct life insurance for yourself. Life insurance is specifically designed to ensure that it gives your family financial support even after you have left them. Life insurance quotes can be compared and you can thus decide the best one which suits all your requirements and needs. There are many companies to give you free life insurance quotes and you can compare them with the others in the market. All you have to do is fill in you’re a short quote request form and fill in some particulars to get the latest quote in the market from a certain company. Once you have received the quote you can compare the same with other quotes and thus understand which is most competitive. When you get a good life insurance today you can be rest assured that you will have a bright future tomorrow. You can request life insurance quotes from your local insurers and get them compared in details. That’s how you can pick the best life insurance policy available in the market for you and your family. All life insurances though look good; most never bear the fruits as expected. You can get something that only looks good on paper and that’s what most agencies do. Their presentation skills are excellent and you can get lured by the presentation. However, it is also very essential to read all the paper work thoroughly. All that is said should be down in black and white in front of you and make sure you never miss the small prints. Ask as many questions you can before you sign a deal or make up your mind. If you feel a particular remark or content is too good to be true, you must reconfirm and as them, ‘where’s the catch?’ Life is never predictable and that’s why you must never delay your life insurance. You family is the one to face the consequences and hence you must make sure you prepare them for the worse. Life insurance policies easy to get but even when you are ready to buy a life insurance, we make sure to go for the most economical quote. Strange but True! If you are looking to save money on your life insurance policy, you can do a few things to ensure it doesn’t make a big hole in your pocket and you also get the best of the deals available. It’s like getting the best of both the worlds! You can first compare all possible quotes for free on various sites such as insurancecenteonline or quoteguru or lifeinsurancequotes. com and many more. This will give you a better understanding as to how much you will save. Get as much information or guidelines or articles on all the possible policies you wish to buy and read them thoroughly to understand them. It is important to understand what you are looking for and based on the same do all rough calculations to check if this works out for you. You can always get in touch with professional to back up your view, however try to understand the policy from your end first and only then get the professionals to clear your doubts.

Direct Indirect Currency Quotes

When a person wants to enter trading arena, one of the most important questions is “What should I trade?”. There is an overwhelming choice of financial instruments available for trading; stocks, bonds, futures, commodities, options, mutual funds, ETF’s, all kinds of derivatives like swaps and forwards and , of course, currencies or spot Forex. Direct Indirect Currency Quotes

Perhaps it’s not a surprise, that majority of people start their trading adventure in stocks. These financial vehicles are relatively familiar to most individuals. They are mentioned in the media every day, newspapers always provide price quotes for them. Most of us own or know somebody who owns stocks. That may be direct holding in brokerage account, or an indirect one, through mutual fund or retirement plan.

Taking that under consideration, why should a trader branch out into the Forex markets? Entire books could be (and have been) written on the subject. Reasons can be very diverse and compelling ,but also fairly technical and complex. We are going to focus on a few, most obvious, factors, mentioned here in no particular order.

Liquidity- Forex is the most liquid financial market in the world. Period. Published figures vary from source to source, but they all agree that total daily volume is in the neighborhood of 2 TRILION a day. It’s really hard to comprehend, but it’s more than all other financial markets in the world combined. To give it practical meaning- there is no problem to get in or out of the market no matter what size. There is always somebody on the the other side, counter party to your trade , which might not be a case in a lot of other markets.   Direct Indirect Currency Quotes

Long term trends- strength or weakness in a given currency is usually a reflection of a given country’s economic health, national policy and fiscal state. These factors don’t change overnight. They are in place for a long time, often years, producing extended trends in currencies, which maybe easier to follow than moves in other markets. When you add some knowledge of technical analysis, these long term trend can produce number of potentially profitable trading opportunities.

Abundance of information- there is a constant flow of government’s economic reports, political developments, trade issues and a plethora of other fundamental data that media is quick to pick up and make available for immediate use. At times it might seem there is too much data, but if fundamental analysis is your thing, there is certainly enough to consider.

Around the clock trading- unlike stocks, Forex trading is not limited to set hours of local time where the exchanges are located. It moves around the globe as business day goes from Australia and New Zealand, to Tokyo and rest of Asia, followed by Europe and North America. Just as soon as businesses shut down in USA, they are opening again in the far east. Truly global market place.

Diversification- currencies are treated as a separate asset class. While any single cross can be, and sometimes is, correlated to some other instruments, a basket of currency pairs will have a life of it’s own, not moving closely in step with other assets. Great way to spread risks or simply diversify ones holding, potentially making some profits while remaining parts of portfolio are non productive.

These are but a few and very general reasons why Forex is worth at least taking a look at. In the second part of this article we will focus on some additional and quite specific aspects of trading in spot currency markets. Direct Indirect Currency Quotes

Foreign Currency Exchange Rates By Date

An FX transaction may be useful in managing the currency risk associated with importing or exporting goods and services denominated in foreign currency, investing or borrowing overseas, repatriating profits, converting foreign currency denominated dividends, or settling other foreign currency contractual arrangements.

How does an FX transaction work?

When you enter into an FX transaction, you nominate the amount (the contract amount) and the two currencies to be exchanged. These currencies are known as the currency pair and must be acceptable to your foreign exchange provider.

You also nominate the maturity date on which you want the exchange of currencies to take place. Your FX provider will then determine the exchange rate, known as the contract rate, based on the date and currencies nominated by you. The contract rate is the rate at which the currencies will be exchanged.

On the contract date the contract amount must be exchanged with your FX provider at the contract rate, irrespective of where the foreign exchange rate is at the time. Foreign Currency Exchange Rates By Date

How does your FX provider determine your contract rate?

It is the agreed exchange rate at which the currency pair will be exchanged on the date of maturity. Your currency provider determines the contract rate, taking several factors into account including:

Contract rates are quoted as spot exchange rates, value today exchange rates, value tomorrow exchange rates, or forward exchange rates, depending on the maturity date nominated by you. Foreign Currency Exchange Rates By Date

In today’s age of information technology at everyone’s finger tips, shopping for life insurance online seems like an easy and convenient way to get coverage. Avoid the sales pitch, the agent visiting, and research the price you need to pay now!

This all seems straight forward and easy, however this article will explain the process for getting online quotes and what to expect when doing online shopping for life and health insurance.

The Instant Online Life Insurance Quote

When you have found a website that offers an instant online life insurance quote, there is usually some form of contact information you have to give in order to access the instant quote form. An example would be the instant life insurance quote form on Life Guard Insurance’s website. Here we ask you to become a member of the site by giving your email address and creating a user-name and password. This will allow you to get unlimited access to the online life insurance quoting tool. Other websites often ask for a phone number and/or an email address each time you want to run a quote.

The reason these online sites are asking for contact information is because they want to reach out to potential clients and market their services and insurance products directly to you. The internet site is just a conduit to reaching interested customers and possibly selling them the insurance they need.

In reality this is a good thing. If you are in the market for life insurance or health insurance and input your contact information into a website, you should be prepared to receive a phone-call or an email following up on your enquiry. Without this type of follow-up, how would you ever be able to take the next step and purchase the insurance you are looking for? Online purchasing of life and health insurance can leave you without future service and very probably the wrong type of insurance for your situation. The lowest priced policy doesn’t always mean a good fit for you. Getting contacted by a qualified insurance professional to discuss your options would likely lead you to purchasing the best life and/or health insurance plan which you can afford now.

The Request for a Quote Online

This is a bit different from the Instant Online Life Insurance Quote. Typically, the instant quote for life insurance is limited ONLY to life insurance, and specifically term life and whole life products. There is no ability to quote Universal Life Insurance, or health insurance products like Disability Insurance, Critical Illness Insurance or Long Term Care Insurance. This is because these products are too complex to just run a basic price comparison quote.

Let me give you an example: with Disability Insurance there are three main variables to classify your risk; health (including smoking status and age), occupation, and income level. Then there are multiple choices on plan design, like waiting period before benefits begin, length of benefit payout, amount of income to be insured, and many optional riders and benefits. Also, certain disability products are designed for different occupations. There are specialized plans for professionals like doctors and lawyers which are very different from plans available for construction workers. So, you can’t just run a price comparison for the cheapest rate. It doesn’t work.

When looking for a quote for more complex types of insurance products, you usually request the quote online, for either life or health insurance, and are asked to input your email and/or phone number. This is because an insurance advisor would most probably need contact you to discuss your unique needs so they can deliver a quote that is tailored to you.

Requesting a quote from the insurance company or brokerage is probably your best option. Either way (Instant Quote or Request for a Quote) you can expect to be contacted. With the insurance quote request, the advisor will be phoning to open a discussion about your situation and needs, gathering information in order to deliver a high value quotation that makes sense to you. If you just quoted $500,000 of Term 20 life insurance, the agent might be phoning to try sell you that product. Who is to say that a Term 20 life insurance plan for $500,000 of coverage is the right policy for you? No discovery has been done. No understanding of your needs and situation has been gathered. You could be paying premiums for the wrong type of insurance if you rely totally on the lowest priced instant life insurance quote online.

Internet/Online Shopping for Insurance is the Future

With the explosion of the internet and every business making a significant presence online, the future of shopping for your life and health insurance has already become an online affair. The research you do, and quotes you get online are only just the first step in your buying process. In Canada there is not yet a well developed online purchasing mechanism to buy life and health insurance directly over the internet. You typically still need to meet with an advisor to understand the insurance you want and sign paperwork to actually apply for the coverage.

I, for one, hope that online sales of life and health insurance never takes off in Calgary and across Canada. Insurance is complicated, and clients need an advisor to guide them and explain how their insurance will work. Designing the best plan for you takes the help of a qualified insurance professional. Having a relationship with your insurance broker, and explaining your needs and concerns to him/her is always the best way to buy insurance. If you trust your insurance agent/broker has your best interests at heart, and they have access to competitively price products, you will be getting the best life and health insurance you can buy.

Stocks — When you buy stocks you essentially own a little share of the company you just bought. The more shares you buy the more of the company you own.
When the company whose shares you have bought makes a profit you will receive that profit in the form of dividends. Ownership of shares is normally called equity.
There are two main types of stocks. Preferred stock which normally pays regular dividends and common stock which often gives you more rights than preferred stock. Which one you chose will, depend on what you are trying to achieve.
To buy stocks you normally need to have an account with a broker. The type of broker you will need depends on what type of service you require from the broker.
If you want to have full access to reports on particular shares and be able to ask for advice from the broker, then you would normally opt for a full service broker.
If you are independently minded and don’t require recommendations or reports and only wish the broker to execute your orders, then you would opt for a discount broker.
Opening an account with a broker is similar to opening an account with a bank. You will be asked for personal information and given forms to fill in.
Where Are Stocks Traded?
The most common place for a stock to be traded is in a stock exchange. Stock exchanges are physical locations where market participants are brought together in once place.
The most famous of the exchanges is of course the New York Stock Exchange where an estimated $12 trillion changes hands each year.
Stocks can also be traded over the counter (OTC). OTC transactions are done through a network of telephones and computers connecting dealers to form a market.
Forex — Forex is one of the fastest growing areas for news traders to get started. The main reason for this is the low entry level (only a few hundred dollars for mini accounts) and the fact that it is fairly straightforward to trade.
The word FOREX is derived from Foreign Exchange and is the largest financial market in the world. Forex is often abbreviated to FX. As the name implies Forex is the exchange of one currency for another at an agreed upon rate.
Unlike many markets the FX market is open 24 hours per day and has an estimated $1. 2 Trillion in turnover every day. This tremendous turnover is more than the combined turnover of all the worlds’ stock markets on any given day. This tends to lead to a very liquid market and thus a desirable market to trade.
Unlike many other securities the FX market does not have a fixed exchange. It is primarily traded through banks, brokers, dealers, financial institutions and private individuals. Trades are executed through phone and increasingly through the Internet.
It is only in the last few years that the smaller investor has been able to gain access to this market. Previously the large amounts of deposits required precluded the smaller investors.
With the advent of the Internet and growing competition it is now easily in the reach of most traders. You will often hear the term INTERBANK discussed in FX terminology. This originally, as the name implies, was simply: banks and large institutions exchanging information about the current rate at which their clients or themselves were prepared to buy or sell a currency.
INTER meaning between and Bank meaning deposit-taking institutions normally made up of banks, large institution, brokers or even the government. The market has moved on to such a degree now that the term interbank now means anybody who is prepared to buy or sell a currency. It could be two individuals or your local travel agent offering to exchange Euros for US Dollars. You will however find that most of the brokers and banks use centralized feeds to insure reliability of quote.
It is estimated that anywhere from 70%-90% of the FX market is speculative. In other words the person or institution that bought or sold the currency has no intention of actually taking delivery of the currency. Instead they were solely speculating on the movement of that particular currency.
Currencies are traded in pairs and are each assigned a symbol. For the Japanese Yen it is JPY, for the Pounds Sterling it is GBP, for Euro it is EUR and for the Swiss Frank it is CHF. So, EUR/USD would be Euro-Dollar pair. GBP/USD would be pounds Sterling-Dollar pair and USD/CHF would be Dollar-Swiss Franc pair and so on.
You will always see the USD quoted first with few exceptions such as Pounds Sterling, Euro Dollar, Australia Dollar and New Zealand Dollar. The first currency quoted is called the base currency. Even though the mighty US dominates many markets most of Spot Forex is still traded through London in Great Britain.
The Main Players In Forex
Central Banks And Governments — Policies that are implemented by governments and central banks can play a major roll in the FX market. Central banks can play an important part in controlling the country’s money supply to insure financial stability.
Banks — A large part of FX turnover is from banks. Large banks can literally trade billions of dollars daily. This can take the form of a service to their customers or they themselves speculate on the FX market.
Hedge Funds — As we know the FX market can be extremely liquid which is why it can be desirable to trade. Hedge Funds have increasingly allocated portions of their portfolios to speculate on the FX market. Another advantage Hedge Funds can utilize is a much higher degree of leverage than would typically be found in the equity markets.
Corporate Businesses — The FX market mainstay is that of international trade. Many companies have to import or exports goods to different countries all around the world.
Payment for these goods and services may be made and received in different currencies. Many billions of dollars are exchanges daily to facilitate trade. The timing of those transactions can dramatically affect a company’s balance sheet.
The Man In The Street — Although you may not think it the man in the street also plays a part in toady’s FX world. Every time he goes on holiday overseas he normally needs to purchase that country’s currency and again change it back into his own currency once he returns.
Unwittingly he is in fact trading currencies. He may also purchase goods and services whilst overseas and his credit card company has to convert those sales back into his base currency in order to charge him.
Speculators And Investors — We shall differentiate speculator from investors here with the definition that an investor has a much longer time horizon in which he expects his investment to yield a profit as was discussed earlier.
Regardless of the difference both speculators and investors will approach the FX market to exploit the movement in currency pairs. They both will have their reason for believing a particular currency will perform better or worse as the case may be and will buy or sell accordingly.
They may decide that the Euro will appreciate against the US Dollar and take what is called a long position in Euro. If the Euro does in fact gain ground against the US Dollar they will have made a profit.

Live forex quotes are among the things which can guarantee your forex trading investment success. It will help you gain useful insights about critical changes to the foreign exchange market. These real time quotes will guide you to make accurate and informed trading decisions. The forex market has a massive amount of information. When you look at the Forex market, there are so many economic indicators like price changes, tracking information, swaps and pips. In fact, there are plenty of data for you to actually base your decisions. You need to be on the right market track when looking at price readings. You should know that prices of currencies could go up or down in time. Price rates are basically divided into many sections. The best thing about live forex quotes is that they will tell you some important indicators that you need to know. You will just have to get the quotes based on the specific currency of the region that you are currently trading with. This will be able to make your trading work easier, especially if you can use it for your fundamental and technical data analysis. These real time quotes can also be useful when you do not have enough time to find relevant trade signals on your own. Live forex quotes are very useful if you know what to do. It is your job to learn how to best use this data. It is also important to get these quotes from reputable sources. After all, inaccurate or outdated information can spell disaster for your forex trading investments. This emans seek advice from others who are quite successful in their forex trading investments about the best sources of these real time quotes.

The health reform acts that President Obama signed into law in the spring of 2010 call for the creation of health insurance exchanges. Many people are not exactly sure what this means. According to a letter President Obama wrote to Senator Ted Kennedy, he wants the health insurance exchanges to be “a market where Americans can one-stop shop for a health care plan, compare benefits and prices, and choose the plan that’s best for them. ” This function is actually very similar to what insurance brokers currently do right now. However, some people do not know that they can shop around with the assistance of an insurance broker, for the same price as they could if buying directly from a health insurance provider. So at this time, the federal government wants to set up these health insurance exchanges, which is how members of Congress and their families choose their health insurance plans.

The idea of health insurance exchanges is to better organize the information out there about health insurance plans, to improve transparency within the health insurance industry, and to set it up in a more competitive market, in order to drive prices down. This would also allow for regulating some policies and procedures for the offering and pricing of health insurance plans. Another main goal of health insurance exchanges is to better educate the American public as to their health insurance options, help them become more familiar with the insurance vocabulary, and make the health insurance purchasing process less intimidating. This is not the first time that health insurance exchange has been proposed in the government. Currently, there is a health insurance exchanges set up in Massachusetts, where it is called the Connector. Utah also has an active health insurance exchanges. In the past, they have been proposed as Health Help Agencies, which is just another name for health insurance exchanges. Regardless of what they have been called, Congress members have hoped these health insurance exchanges help the uninsured become insured, and facilitate changes and reform within the insurance industry. To start out, the health insurance exchange will mostly be beneficial to those individuals who need to purchase individual and family health insurance. Eventually, it is hoped that employers and employees can also choose health insurance plans offered through the health insurance exchanges, rather than having to enroll in whatever employer-sponsored group health plan is offered to them. This, again, increases the options and freedom of the American individual. Self-employed individuals would also greatly benefit from health insurance exchanges because they would be able to see the many different health insurance plans and policies available to them. Information about health insurance plans would be presented in a straight forward, objective, unbiased manner. It is unclear at this time whether there will be one nationally-run health insurance exchange, or whether there will be regional health insurance exchanges. It may be more effective to have regional health insurance exchanges, but yet there may be lower overhead with one national health insurance exchange. These final decisions have not yet been decided. It is also unclear who will regulate health insurance exchanges, whether it will be done by the federal or state governments, or whether outside agencies will be in charge of the administration of health insurance exchanges.

Introduction 

How time flies! It is 6 months since I wrote my last Mallorca Property Market Report and it is always a little bit worrying going back to reflect on what one has said and, whether with the benefit of hindsight, an alternative conclusion might have emerged! Back in March the big question was whether we could call the “bottom of the market” and what that might actually mean in practice – one thing is a market that has touched bottom and ready to move up the gears quickly, with real growth just around the corner, while the other is a market where values have bottomed out but the expectations are much less about growth and much more about “stagnation”!  

 My conclusion at the time was that we may indeed be able to call the bottom of the market if we were to define it in terms of reaching the “bottom of the cycle of underlying residential property values in Mallorca” (please note the very important reference to underlying values, something very different to, for example, asking prices!). More specifically my March 2010 report concluded as follows:

 March 2010 Market Report Conclusions and Recommendations

 1. Underlying values to bottom out at current levels2. The evolution of asking prices to vary dependent upon whether they have been set realistically / adjusted sufficiently to account for the significant falls in property values. 3. Future growth in values to be non existent in the short term and very limited and restricted to underlying inflation in the medium term ie no real growth in the next couple of years. Modest growth over above general inflation levels in the economy to follow thereafter at levels of 1-3%4. Special properties with “unique” qualities – front line; very good sea views; restrictive planning conditions – rural fincas; high quality developments etc to perform better / out perform the market in the medium / long term. 5. Land values to hold down prices in the medium term as developers take advantage of cheaper land to sell at these new lower levels for the medium term. Long term shortage of supply, save for those in urban areas and for “mid range” apartments, like Palma, Inca and Manacor, should see values rise

Alongside these conclusions I set out a few “tips” or recommendations for both owners and potential investors of Mallorca residential property. These were:

 1. If you are a lifestyle purchaser or investor with an income return bias start to look at the emerging buying opportunities BUT. . 2. “BUYER BEWARE” it is all about value and ensuring that you buy at an appropriate level and don’t over pay on unrealistically priced properties. 3. Look at new build where good discounts are available (but beware of off plan unless your deposit(s) are backed with a bank guarantee)4. Look at properties with “defensive” qualities, as set out in (4) above, for greater short term security5. Look at land to hold as a long term investment / to build a home. Particularly rural plots, front line or with very good sea views etc

 Market Update March 2010 – October 2010

 So what has been the reality of the last 6 months? Have my conclusions been largely borne out or has hindsight led us to see that we should have reached alternative conclusions?

 Lets start by reviewing the statistics and data that have emerged since the March 2010 report and what the so called specialists have been saying. But before that let’s enjoy the headline that greeted me this week that none other than the Spanish Prime Minister had just called the bottom of the property market in Spain! While I am immediately cynical when it comes to anything said by a politician, particularly when it is a Foreign PM talking to US investors in a desperate attempt to make them believe that everything is fine and “under control” and that they should buy bundles of government bonds at the lowest possible yield, he did seem to be confirming what I said, namely that we are at the bottom and although it is true that I said it 6 months ago, if prices have largely remained unchanged over that period, then it could be said that it was the bottom then as well as now!

 The problem for me is that good old Zapatero then proceeded to get over excited, quoting official statistics that appeared to indicate that in many areas of Spain prices were starting to rise ie we had touched bottom and wey hey we are on an upward trajectory again! So let’s, as I say, look at the data that has been coming out, starting with ZP’s own Housing Ministry.

 National Institute of Statistics (INE) According to new figures from the National Institute of Statistics (INE), Spanish property prices rose (quarterly) for the first time in 3 years. More specifically these figures claim that average prices at the end of June were 1. 6% higher than at the end of March although over 12 months prices are still down but by just 0. 9%. For the Balearic Islands / Mallorca the statistics weren’t quite as rosy but still offered “some positive” news for those desperate to call the end of anything called recession / crisis / market crash etc! Here the overall figures put property values unchanged for the last quarter but down 2% for the year. For new build property it appears there is a “rebound” with prices up 1. 4% even though for the last 12 months prices remain 2. 5% down. Second hand property values were down 1% for the last quarter and 1. 6% over 12 months.

 Interestingly only Navarra in Northern Spain came out with worse data with a small fall of 0. 1% in the last quarter. In other words what the Ministry of housing is suggesting is that in all regions, bar Navarra and the Balearic Islands / Mallorca, property prices grew in the last quarter!

The trouble is it is very difficult to take seriously figures which tell us that overall Spanish house prices have only fallen 10-12% since their peak in 2007. The fact that the index suggests prices may have started to rise is not in itself that surprising had the index registered price falls of 30% or more.  The problem is that we are expected to believe that, having barely fallen since the peak, prices are now rising again (at least on a quarterly basis) while we are still living out the consequences of the worst recession in living memory, a severe credit crunch, 20% plus unemployment, and a glut of 1 million new homes sitting there empty!

 The same Ministry of Housing statistics, but this time for land values, paint on the surface of things a similar picture but equally show where future on going price weakness in the market may come from. According to these figures released earlier this month land prices in Spanish cities fell 14. 9% over 12 months to the end of June, although the figures for the first quarter of this year indicate a small 3% rise. That said this 15% annualised fall in Q2 was the biggest fall on record since the Ministry of Housing started publishing this data in 2005. This put the average cost of building land in Spanish cities at 210. 7 €/m2. With land values accounting for 30 – 50% of the final value of a property it is clear that while this trend continues the floor under the market for new build housing will remain weak something which effects the wider market as well. In other words with land values falling developers, when they decide to build again, will be able to do so much more cheaply and thus offer them for sale at much lower prices possibly even lower than what they can today for the existing stock! With the stock of available properties still so high and the prospect that new housing can come on stream profitably at lower levels it is easy to conclude that general growth in the market (ie values starting to rise), as we said in March, is still some way off.  Obviously where the supply side is constrained because of the location eg front line properties, or type eg rural fincas where planning laws are getting much tighter, both of which are very relevant factors in Mallorca, then the outlook may be a little brighter.

 Tinsa (Property Valuation Company) Report Turning to the quarterly reports produced by Tinsa, probably Spain’s leading property valuation company, average Spanish property prices fell 4. 6% over 12 months to the end of August. Furthermore after 9 months of trending towards smaller price declines, this is now the second consecutive month in which the index shows price falls accelerating, from -4% in June, to -4. 6% in August. For the Balearic / Mallorca and Canaries Islands the fall was a little larger and stood at minus 5. 3% taking the overall fall in the index for the Islands down 16% since 2007 compared to 17% for Spain as a whole and nearly 22% % for the Mediterranean coastal areas. While the differences are what might be expected ie the mainland coastal areas, which bore the brunt of the speculative development boom, have suffered most, all the anecdotal evidence including actual sales prices would suggest that at best the market has fallen by 25%-30% and some what more in the worst effected areas. (important note: many properties were historically over inflated in terms of asking price at the height of the market, and remain so even as we speak today, so here an adjustment might even have to be be as high as 50% to get back to true underlying value. Obviously where a property was appropriately valued at the peak a 25% reduction might be perfectly reasonable to reflect true current value)   

 It is important to note that Tinsa’s figures are based on subjective valuations and in most cases these are calculated using asking prices of comparable properties in the region. By nature therefore these valuations are likely to lag the market, some say by anything between 12-24 months. In other words we could quite realistically assume that if Tinsa says the market is still falling and that the pace of fall has started to increase again, then in all likelihood this trend in falling values could well continue for a few months yet. Where I might differ is not with where the figures are going but the time it is taking for the likes of Tinsa to reflect what has really happened ie they are indeed probably at least 12 months behind the times. Since they base their valuations on asking prices it is hardly surprising! In other words the Tinsa figures may call the bottom of the market 12 or 24 months after we really have seen values touch bottom.

 Idealista (Real Estate Web Portal) Report Another often quoted source of statistics, regarding the Spanish and Mallorca real estate markets, is the quarterly Idealista property web portal report. The latest data for the end of the 3rd quarter and released on 1st October, suggested that in Spain as a whole prices had accelerated their fall to a quarterly figure of 2. 7% leaving the average value at 2,309€ m2. While this negative statistic was reflected in most regions of Spain, the Balearic Islands / Mallorca saw property price rises both generally and in the various towns (but not all) for which the web portal quote statistics. Here the overall figure stood at 2,371 €m2 in September 2010 compared to 2,286 €m2 at the end of the previous quarter and 2,228 €m2 in September 2009 ie an annual rise of 6. 4% and last quarter increase of 3. 7%.  

 Specifically they highlight statistics for the following towns / areas. The first figure shows the average value per m2 as at September 2010, the 2nd figure the change over the last quarter and the last the annualised change (where available). Please note these statistics are based on an average of offer prices in each region and / or town and are not therefore the values at which a willing seller and willing buyer might necessarily agree a sale between them:

 Calvia                        3,052€ m2; +11%; +12. 5%

Palma de Mallorca      2,446€ m2; +4. 8%; +10. 7%

Marratxi                     2,080€ m2; +2. 4%; n/a

Inca                           1,580€ m2; +2%; -0. 5%

Santa Ponsa               2,568€ m2; -3. 7%; n/a 

Llucmajor                   2,140€m2; +9. 9%; +8. 2%

 Looking at these figures you might well assume that things are really beginning to take off and in many respects with a good sample size in each area one can not be fully dismissive of the findings. By way of comparison, although admittedly with a much smaller sample size, the web portal Facilisimo contrasts and quotes a fall in prices within the Baleraic Islands / Mallorca of 5. 3% for the year to date.

 Bankinter Spanish Real Estate Market Report Bankinter interestingly reported in September 2010 that what they expected was the market to bottom out but also future growth to be very limited, much along the lines of my March 2010 report and my continuing view. The bank feel that, taking the market as a whole, prices could still fall marginally further, circa 6%, over the next 9-12 months, with the market staying at that level until end 2013, beginning 2014, when some modest growth could return i. e. we are going to bump along the bottom, or as they put it be “walking through the desert”, for some time yet!

In line with my own opinion they also question the Ministry of Housing figures that tell us that prices have only fallen by 12% since the peak, while in reality the Bank feels this should be 20%+ (as you know I would go further than that in many circumstances!).

It is important to put this report in context as it covers the whole of Spain and thus is clearly dominated by the dynamics of the locally driven market, not by a mixture of local and international, like in Mallorca or many parts of the Mediterranean coast. Clearly in Mallorca if there is, for example, a return of consumer confidence in countries like Germany, the UK, Scandinavia etc this may encourage buyers from those destinations to bring forward buying decisions even if in Mallorca itself the local consumer remains weighed down by the fear of unemployment, the impending loss of mortgage tax breaks and the simple lack of household income / savings to meet the demands for larger deposits as banks reduce their loan to value ratios. Generally if buyers from outside Mallorca see the property markets improving in their own countries they are more likely to consider that the time is right to purchase here or at least that the Mallorca market will quickly follow suit. In many respects they are right. We live in a globalised economy and just like I always maintained in the boom years that Mallorca is “on planet earth” when told repeatedly that “prices don’t drop in Mallorca things are different here”, the flip side now is that when the global economic climate improves so will the situation in Spain and Mallorca even though most of us expect it to lag other parts of Europe. What this means in practice is that buyers, in my opinion, have a little more time to look at the options, do market research, identify good buying opportunities etc before there is any risk of the market running away ahead of them! There is always the risk that a buyer may loose out on that one “perfect” property that they fell in love with, because another buyer has come in before hand, but in general buyers can afford to be patient.  

Inversion magazine 10-16th September 2010 If you want to read an article full of caution regarding the Spanish property market as a whole then read this article. Like I was pointing out above, this article emphasis the real underlying weakness of the domestic property market dragged down by huge unemployment number (over 20% and with even the most optimistic predictions setting it at no less than 18% for 2 further years); a financial sector either unwilling or unable to release liquidity into the market and at risk to reductions / removal of the ECB existing liquidity support measures; a mammoth supply over hang (unlike for example the markets in the United States or UK); and a financial sector holding a very large portfolio of repossessed properties which although not currently being flooded on to the market, could be if some smaller entities run into liquidity problems when the ECB cuts the current support measures. All in all the article concludes that not only do they foresee prices continuing to fall they concur that the future upside is a long way off. Patience and market research is their recommendation!   

 Although regular readers will know I am not a born optimist when it comes to my views on the Mallorca property market I have equally always maintained that it does have some important defensive qualities that should see it suffer less on the downside and recover a little better /quicker when the overall economic environment improves. The supply side is some what better than many other areas of the mainland, having suffered less of a speculative development boom; planning regulations and land zoning are stricter, further restricting the supply side; demand is more widely based (it includes a large number of international buyers in addition to the main local market); and economic improvements in Northern Europe should bolster tourism in the Island and thus put a floor under the unemployment figures.  The Mallorca “brand” is also strong amongst the wealthy and there are always new buyers wanting to taste!

 Other Press Reports / Comments In the press there have been a steady trickle of agents, developers and industry representatives that are all supporting (understandably!) the thesis that prices have stopped falling and buyer interest is up within the second home market in particular. Interestingly most concur that prices have fallen by 15-35% depending on the area and the type of property, while others talk of prices going back to the levels of 6-7 years ago, in other words back to the levels before the very largest year on year price increases were delivered. If I had to comment I would argue that while they may be correct in relation to asking prices when they quote 15-35% I think they are much nearer the truth when they talk of values returning to 2003-2004 levels which in most cases would need to see falls of 25%- 40%.

I also caution against taking too seriously comments about asking prices and the need to buy now before prices rise. Many “warn” clients not to sit out waiting for more price falls and owners now prepared to sit out for the right buyer to come along rather than reduce prices further. While I would not disagree that underlying values are at or near the bottom, as I maintained in March, my experience is that few if any buyers are purchasing at asking prices and that many deals are being done well below asking prices. Only recently I asked a reputable agent what he thought various properties would sell for (all had been on the market for some time) and I was given figures between 20% and 35% less than the prices that were being quoted. I am not suggesting this is “proof” of anything in particular but I would say it supports my belief that “buyer beware” is the name of the day and not because you need to buy quickly before the market takes off but because asking prices can be very misleading!    

 What I am saying is that values are at or near the bottom of the cycle, that pressures for prices to grow are still some way off, with time is on the buyer’s side, but that if you are interested in buying I would definitely be in the market now looking and negotiating. Much better to negotiate now while there are still gloomy economic clouds offering uncertainty yet, sentiment is stabilising, than when everything is looking much rosier in say 12 or 24 months time. It is not that prices will rise during that time but simply that vendors may hold out a little more at or near there asking prices while today most if not all will want to do a deal rather than wait for another buyer that might not come around for many months or more!

At a regional and individual town level in Mallorca here are the views of what one major agent is saying has happened to prices, since the top of the market, along with my own comments:

Palma City / Old Town & Portixol: prime prices down by around -25% (Note: Supply is by nature limited and long term there must therefore be a firm floor under this market. Proposed improvements to the Playa de Palma area, tram infrastructure etc should all help but be patient for anything requiring public investment!)

Palma outskirts and Paseo Maritimo: Apartments down by -25-30% although villas with sea views in Genova, Bonanova etc have seen values fall some what less.

Son Vida: it is claimed that prices have held up and fallen only by 10-15% although they then “admit” deals have been done at levels that are up to 35% down (Note: what does that tell you? Asking prices are unrealistic and out of line with underlying values. The real market is about the value of done deals not asking prices! That said Son Vida will remain a prime address so again there is a floor under the market)      

Puigpunyent, Esporlas etc: prices down circa -25%

Santa Ponsa: Prices down by around -15% (Note: With a lot of supply deals are being done some what lower than this figure suggests and with the Port Adriano super Yacht marina development taking shape it is not a bad time to be looking at this area and taking advantage of the weak market to get in to what long term looks an interesting area – luxury marina, 4 golf courses etc) 

Andratx, Port Andratx: Prices down by -20%. (Note: This remains a sought after area despite much of the over development allowed by the previous, corrupt, Town Hall administration. Despite the poor quality of some infrastructure and public spaces in the Ports urbanisations demand is likely to remain long term and should be supported by promises, and hopefully the reality, of improvements agreed by the new Administration).  

Deià, Valldemossa, Sóller & Puerto de Sóller: It is claimed that prices have held up here simply because owners have been less willing to negotiate ie there have been few transactions / an illiquid market. (Note: Another area with supply very restricted, a quite spectacular natural environment and a “brand name” with an international reputation all of which support the market and make it a good long term investment. The Jumeirah 7* hotel opening in Puerto Soller next year is the sort of investment to further add to the areas “cache”)

Central Mallorca: Prices are said to be down circa 10-15%. (Note: this is a large area and thus it is difficult to generalise but even in the historically stronger areas, on the Tramontana mountain fringe, eg Alaro, Santa Maria, Binissalem, Campanet, Buger etc deals can be done at up to 25% below asking prices)

Pollensa & Puerto Pollensa: Prices down by up to 30%. (Note: Anecdotally this area was hit as hard as any in terms of the demand tap simply drying up at the height of the crisis while in reality this has always been one of Mallorca’s strongest niche markets. The draw amongst “Pollensa devotees” remains and when demand returns, as it is starting to do, it should return in the long term as a top destination. With this in mind it could well be a place to start looking while prices remain under pressure and “deals” can be done. ) 

Alcudia & Puerto Alcudia: Prices down by circa 25%

North East (Arta, Canyamel, Costa de los Pinos, Cala Bona etc): Prices down circa -10% (Note: While historically a lower price area, due to it’s relative remoteness from Palma, the new motorway from Palma transformed the area just before the recession got to grips with the market and thus the “re-rating” that some, including myself expected, never took place. This explains in part why values have not fallen as much. The market remains weak however, there are deals to be done and this may well be a good time to get into the area before prices move more in line with other areas of the Island. Costa de los Pinos and Canyamel offer a lot for the discerning buyer looking for quality property, sea views and a tranquil environment)

South East: similar to the North East with prices historically lower and thus having less far to fall!

Conclusions and Recommendations

As can be seen we have reports saying prices are falling, reports that they are stable and some that they are rising! That all said, and talking of Mallorca specifically, I remain of the opinion that underlying values have bottomed out and that we are now in the low activity / no price change period prior to growth returning.

 In effect my conclusions are fairly similar if not identical to what I said in March! For completeness:

1. Underlying values should continue to bottom out at current levels. There are downside risks but in Mallorca I see these fairly much under control and unlikely to exceed 10%. Buyers should be aware of this at the time of negotiating the final purchase price and in that way can “manage out” some if not all this risk. 2. Whether asking prices continue falling will all depend upon whether they have been set realistically / adjusted sufficiently to account for the significant falls in underlying property values. In other words do research and know whether the property you want to buy is realistically priced or not. In that way you will know whether you are talking about negotiating a “bit” or are looking to take off a “wholesale chunk” to arrive at the final agreed purchase price. 3. Don’t expect a sharp rebound in property prices! Future growth in values is likely to be non existent in the short term and very limited and restricted to underlying inflation in the medium term ie no real growth through 2011 and 2012 at least and only modest growth over above general inflation levels in the economy to follow thereafter at levels of 1-3%. If I was to change my view at all it is that perhaps real growth is some 12 months further off than I suggested in March. 4. Special properties with “unique” qualities – front line; very good sea views; restrictive planning conditions – rural fincas; high quality developments etc to perform better / out perform the market in the medium / long term. I  strongly believe there is a floor under this market but equally I do not believe that is the same as saying that the prices of these properties should not have been adjusted downwards, just that the extent of the adjustment may have been less and the downside risk of further falls much less likely . That said all depends on whether they were correctly priced at the outset. Some of these properties were ridiculously priced at the height of the boom so need severe price reductions to account for the initial over pricing and now the falling market. It is all property specific and be aware of over generalizing and then over paying for a property however “prime” and unique it is!5. Land prices have come down significantly and will stay low in line with the wider market. Land values will hold down prices in the medium term as developers take advantage of cheaper land to sell at these new lower levels. Long term shortage of supply, save for those in urban areas and for “mid range” apartments, like Palma, Inca and Manacor, should see values rise. It could well be a good time to get in now buy a well priced plot and build your dream home rather than search endlessly for the finished article which is never “quite right”! 

 And in terms of where I would be looking to buy, and what I would be doing, again not much has changed over the last 6 months but to reiterate I would refer to the following “tips” and recommendations: 

1. If I were a buyer I would start to be actively in the market now particularly if you area a lifestyle purchaser or investor with an income return bias . By “in the market” I mean starting to look, getting a feel of what is available, seeing what you like and starting to understand what is available and at what price. Make sure you either do your own research or use a Property Finder / Buyers Representative that can impartially help advise and guide you (don’t expect an estate agent to!) They want a sale of one of their properties while a Property Finder wants a sale but doesn’t mind which one so are impartial at the time of choosing and advising.  As I said 6 months ago …2. “BUYER BEWARE” it is all about value and ensuring that you buy at an appropriate level and don’t over pay on unrealistically priced properties. Understand who is selling, why and how motivated they are. Understand what the property is really worth and whether there can be a “meeting of minds” in this regards. If not walk away and find another property. If the owner is unrealistic all the best valuation advice in the world won’t get you the property at a realistic price!3. Look at new build where good discounts are available (but beware of off plan unless your deposit(s) are backed with a bank guarantee)4. Look at the properties with “defensive” qualities, identified in (4) above, for greater short term security and long term capital growth5. Land could well be a good buy now. Look at it either as a long term investment or to build a home. Particularly rural plots, front line or with very good sea views etc but most good plots are worthy of serious consideration, if of course the price is right!

6. In relation to areas of interest I would look, in particular at Pollensa, Santa Ponsa, Soller and surrounds, and the NE of Mallorca. That said it is all about being “property specific”. There are badly priced properties in these areas in the same way as there are some well priced properties in other areas!

 Happy hunting! For personalized help and advice regarding property finding and negotiating an acquisition in Mallorca please contact Davidt

Resources

Novi Property Mallorca – property for sale in Mallorca

Properties International Mallorca – property for sale in Alcudia, Pollensa and throughout Mallorca

 

Free Auto Insurance Quotes -The Process

The process of  obtaining Free Auto Insurance quotes is not as hard as you think. Although  you might know what free auto Insurance quotes is all about, but you might have no idea the process of obtaining a free auto Insurance Quotes. But, Don’t worry, even if you never get  one before, and don’t know anything about Free Auto Insurance Quotes , you should still be able to benefit. After all, this industry is doing whatever it can to help  you.

To get  free auto insurance quotes, you must first start out by finding  a site that offers this service. There are 2 options, you can either  find an online insurance brokr that works with a number of insurers to get your Free Auto Insurance quotes or else go to each insurance company’s website and fill out their Free Auto Insurance quotes form. Both ways have their advantages but we definitely recommend you to go online and fill out all the quote forms. When it comes down to it, you can do whichever you think is the best.

The Next step is to provide accurate  information on yourself as well as what you are looking for in your Free auto insurance quotes. Remember, if you mess up even one detail , you may end up having  an inaccurate free auto insurance quotes in your hand. This could lead to a huge shock down  down the line when you are told that you cannot get  the price of the original quotes. Please bear in mind, to get a cheaper free auto insurance quotes,  please provide them this detail – your background, type of car, driving history, police record, date of birth.

Remember,  if you obtain more free auto insurance quotes you got, the more choices you can compare. We personally recommend a minimum of 3 free car insurance quotes. Getting one quotes is a great place to start, but this is not where you should  stop. Even if your first free auto insurance quotes looks great, you never know what the competition is going to do for you; this is until you get free auto insurance quotes from them as well. Remember to set a budget for yourself, a price that you can afford.

 Lastly, your final step is to purchase a policy from the free auto insurance quotes that you have received. This may be the most difficult decision that you are faced with; especially if there are a couple of policies that you like.

Oh ya, a  reminder from me, Insurance companies are inter-linked  with each other, it’s better to be honest with them. That’s why providing precise and accurate  information to obtain  free auto insurance quotes is really important , make sure you give the same information to every insurance company. Don’t simply try out by filling the quotes with different information, they have information exchanged everyday and they would know. You will end up receiving  free auto insurance quotes which are much more expensive and there will be no chance to lower the premium down.

More Car Insurance information can be located at : http://www. Get-Insurance-Today. Info.

Best wishes,  David John

When I keyed in the words exchange server support to read a little more about the various options available in the market, two warning statements or rather two sets of warning statements struck me as rather interesting. The first strongly cautioned that one should stay away from the least expensive contractor following the axiom that paying for peanuts gets you monkeys! Interesting advice as normally lower quotes tend to get ones attention.

The second bit of warning/advice was that in the event that before one actually bought Microsoft exchange server software one should get extensive training. The MS exchange server as I understand is a very useful tool in that it enhances communication and protects and improves communication, a vital business tool. MS Exchange can also be very effective in stopping spam. It also has the ability to grow with the business. What I found odd was that normally, one looks at training and tutorials post acquisition of a product. In the case of the MS exchange server, it seems the opposite.

In order to better understand the product there are several options available to users. First, there are internet tutorials on MS Exchange that would benefit, in my mind the more techs savvy amongst us. Alternatively, one could look at joining a Microsoft Exchange ASP and software certification and training course. The point that is really being driven home here with regard to the MS exchange server really is that this application is as good as the mind that manages it. Therefore, all those employees that would be using the MS exchange server should enter in depth tutorials to manage the same.

Let’s go back to the first warning that I mentioned that was with regard to an externally hosted exchange server. I believe that there are many vendors in the business for this service and I am told that their service features are fairly standard. At the end of the day for a business what really matters is the quality of the customer service and the smooth functioning of the server, i. e. the uptime.

For a business that chooses to go for an externally hosted exchange server, you have to be thorough in your vendor selection. Check the exchange server support helpline turnaround time whether it is by e-mail or by return phone calls. Also, another element is the quality of the exchange server support. Does it make any sense to you or your business or is it only adding to the clutter? Try chatting online with exchange server staff, see if their tone and quality of advice is something that works for you. The MS exchange server is a vital life line of your business, you must choose a MS exchange server support vendor who comes well recommended by your peers. Manufacturer website and Industry magazines also provide useful rating services that could prove helpful in your selection of a MS exchange server. Use the free trial periods to the fullest before finalizing your Exchange server support vendor.

The second warning, piece of advice that I mentioned earlier is something that I am going to pass up. Really, if I have to invest this kind of time and money on training, I really am going to be in trouble. I will get my own exchange server but I will call in the experts to manage it for me. I need full time exchange server support from what I have understood about the product and who better than a qualified tech support company. They can look after the installation of the exchange server; troubleshoot as and when required as well as look at any updates and fixes. As for me, I will sit in peace and do my work.