08 | INDUSTRY
NEWS By Geoff Hadwick
OPP Connect, an important new membership club for overseas property professionals, has been launched to help overseas property professionals make more money, save more money and get connected with the best in the business … all around the world. Designed to give its members privileged access to a wide range of discounts on relevant products and services, OPP Connect also offers enhanced commissions, networking tools and a full suite of OPP content. Individuals who join NOW will enjoy three months membership for free. Members will receive an OPP Connect newsletter every week detailing current offers. “We really think that OPP Connect
is going to change the global landscape for overseas property professionals,” says OPP Connect chief executive Xavier Wiggins. “We have set up the ideal framework for residential property experts worldwide to get
together and change the way in which they do business.” Speaking to its potential members, Wiggins says “it is not our club, it is your club and it is to your advantage to make the most of it. Use the offers available to make your business more successful, help us write the sort of reports that support your day-to-day business … and be sure to get involved.” And, whilst the number of offers,
members and information is important, OPP Connect will also be closely focused on quality. Each member seeking to join OPP Connect will need to provide three referees to vouch for the quality of their work and professionalism. And each offer made to OPP Connect members will be judged by fellow members using a “rate my offer” function. The best and most popular offers will be highlighted on the website. A number of important offers are already on the test site. These include packages such as: ·Advice on how to do high quality web marketing targeting China; ·Discounts on management software for international property fi rms;
www.opp.org.uk | DECEMBER 2011 Get world of help with OPP Connect
Plug in | to OPP Connect and you and your business could quickly feel the benefi t ·Two hours of free consultancy for
developers with experts in the global property sector; ·Digital PR strategies for the Asian market; ·Reduced price advertising packages;
·Discounted Scandinavian customer lead packages. There will be members’ forums
allowing colleagues around the world to talk in a friendly and secure environment
and become key opinion leaders. For those who join now, membership will be free until 14th February 2012 unless the member concerned is making an offer in which case they will pay now … but get up to 15 months membership for the price of 12. To receive a membership form, go to membership@opp-connect. com You will start to benefi t from the scheme within days. If you cannot get connected call OPP Connect on +44 (0)208 734 3967.
US foreclosure rate 31% down on last year
The American foreclosure rate has improved by nearly a third year- on-year. RealtyTrac, a major US online marketplace for foreclosure properties, released its October 2011 Foreclosure Market Report this month showing that fi lings, default notices, scheduled auctions and bank repossessions took place on 230,678 U.S. properties in October - a 7% rise on the previous month, but still down nearly 31% on October 2010. The report also revealed that one in
every 563 US homes was served with a foreclosure notice during the month.
ITALY FOR LONDON
Wealthy Italians are the latest group of overseas property buyers to see prime London residential property as the safest way to protect their money from the global economic meltdown says agency group EA Shaw.
“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected foreclosure paperwork and processing problems,” James Saccacio, chief executive offi cer of RealtyTrac told OPP. “However, recent state court rulings and new state laws keep changing the rules of the foreclosure game on the fl y, creating more uncertainty in the housing market and threatening to prolong the road to a robust real estate recovery.” According to RealtyTrac,
CHINA MONEY PAIN
A number of leading Chinese property analysts are worried that a steep decline in home prices and sales volumes is starting to put pressure on the liquidity and profi t margins of the country’s residential property developers.
“Foreclosure Activity by Type Default notices (NOD, LIS) were fi led for the fi rst time on a total of 77,733 US properties in October, a 10% increase from September, but still down 23% from October 2010. Default notices in states using the judicial process (LIS) reached an 11-month high of 39,282 in October, a 16% increase from the previous month, but still down 31% from October 2010.” And, it adds, “default notices increased more than 25% on a month-over-month basis in several states, including Florida (28%), Pennsylvania (50%) and Indiana A good sign | the US rate is 31% down
BE SALES ASSURED
A British company has developed a new online service called AssuredSale to help reduce the number of housing transactions that fail during the pre- contract process. Entrepreneur Tim Price has launched what he describes as a “pioneering service”.
MALAYS’ OZ LOAN
OCBC Bank (Malaysia) Bhd has launched a new mortgage loan facility for Malaysian investors who are looking to purchase residential overseas properties in the prime suburbs of Sydney and Melbourne in Australia.
(61%). Despite these sizable monthly increases, default notices were down on a year-over-year basis in all three of these states.”
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