Property Guideline

The Beautiful Hilton Head Island

2008-08-10T00:27:00.001+07:00

Hilton Head Island South Carolina is located at the southernmost tip of the state directly along the Atlantic Ocean . The island offers a unique blend of recreational, environmental and cultural amenities, including twelve miles of sandy white beach, professional golf, perfect dining and great shopping.

Whether you're a visitor just discovering the bounty of Hilton Head, you know there is something special about this island. From the moment of arrival, there is the immediate sense of being removed from the rest of the world, whether crossing the arc of the bridge, flying over the sea and marshlands or navigating the surrounding waters to dock in an island harbor.

You also can find dolphin attraction on the open waters; your children will be happy and excited with these natural shows. Though all sports are enjoyed here year round, even water sports enthusiasts have an advantage on Hilton Head Island, since waters are warmed from the Gulf Stream , heating the sea to a year-round 69 degrees. And in the spring the ocean heats up quickly, beckoning even the most particular swimmers and sun-worshippers in for a dip.

Do not wait to enjoy the interesting and beautiful places in the world. Come and reserve now!

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2008-05-21T09:02:00.003+07:00

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Law History

2008-02-12T14:44:00.000+07:00

The first use of the term "intellectual property" seems to be a Massachusetts October 1845 ruling by the Circuit Court in the case of patent Davoll et al. C. Brown. In that Justice Charles L. Woodbury wrote that "only in this way that we can protect intellectual property, the work of the spirit, productions and interests as much as a man himself ... As he grows wheat, or flocks, it raises. "(1 Woodb. & M. 53, 3 West.LJ 151, 7 F. Cas. 197, No. 3662, 2 Robb.Pat.Cas. 303, Merw .Pat.Inv. 414). L'affirmation selon laquelle "les découvertes sont la propriété ..." remonte plus tôt. L'article 1 de la loi française de 1791 a déclaré: «Toutes les nouvelles découvertes sont la propriété de l 'author, in order to ensure the inventor of the ownership and use of its temporary discovery, it will be delivered to him a patent for five, ten or fifteen years. " [4]

In Europe, the author french A. Nion mentioned "Intellectual Property" in its civil rights of authors, artists and inventors, published in 1846.

The term popularity is a widespread phenomenon much more modern. It is very rare in 1967 until the establishment of the United Nations World Intellectual Property Organization, which has actively sought to promote self-expression. Yet it is rarely used without fear of price until near the time of the adoption of the Bayh-Dole Act in 1980 [5].

The concept could potentially its origins go back further. Jewish Law includes several considerations, whose effects are similar to those of the modern intellectual property laws, even though the concept of intellectual creation as "property" does not seem to exist. [6] The Talmud contains the first known example of codifying a ban against theft D'ideas, which is explained in more detail in the Shulchan Aruch [7].

However, the legal system in most of the Western world has no provisions relating to intellectual property and laws, the term encompasses are justified on grounds more limited. [Edit] The term does not appear in the statutes copyright of the United States, except in certain Footnotes citing the titles of some bills. The term used in the statutes and the Constitution is an "exclusive right".

Valuation of intellectual property

2008-02-12T14:28:00.000+07:00

Little argument on intellectual property (IP) would happen if it had no value for the owner. The principle of valuing intellectual property is to determine the future revenue related to its property (Smith & Parr: Enhancement of intellectual property and intangible assets, 3rd Edition, Wiley, 2000). Note that the value of intellectual property is generally independent of the cost.

Determination of future revenues requires the estimation of revenue due to the intellectual property in each of the coming years, during his lifetime, ie, the quantity sold and the net income per unit after routine Sales costs are deducted. If intellectual property is used internally, then the savings due to possess the same way it can be estimated. The risk that intellectual property becomes obsolete is high, and reduce the current value. Without risk, future income is discounted using a risk-free interest rate. Risks include unexpected competition, unauthorized copying, patent infringement or invalidation, and the loss of trade secrets. With such risks, increasing the discount rate, based on the beta coefficient expected. With the discount rate high, sales that occur far into the future have little effect, simplifying the determination of the net present value of intellectual property included.

When the elements to assess contain multiple IP components, and the proportion in the life of each component is to be determined. This situation exists in small, as for software that receives updates throughout the future, and in general, for companies that sell many products. The shareholders of public companies, in fact estimate the total intellectual property of a business, providing a market capitalization through the price they are willing to pay for actions, which is the sum of the carrying value and intellectual property belonging to the company.

US Generally Accepted Accounting Principles (GAAP) do not allow registration on the books of intellectual property businesses, [edit] which makes it difficult for investors to be rational on the share price. IP is generated mainly through research, development and advertising (IP-generating expenses or IGE), which makes it difficult to assess the effectiveness of GOI. Companies participating in the knowledge economy generally have a market capitalization which is a major factor greater than their book value, the sum of its tangible assets and cash. Normally, it is only when a company was purchased will be purchased intellectual property appear as part of the purchase price allocation required by the International Financial Reporting Standards Number 3 (IFRS 3) on business combinations.

Latin America: Property rights index

2008-02-02T08:51:00.000+07:00

A sub-component of the index of economic freedom, property rights index measures the degree to which the laws of a country to protect private property rights, and the extent to which his government enforces these laws.

The highest scores are more desirable, ie property rights are better protected. Scores are from 0 to 100.

The index also assesses the likelihood that private property will be expropriated and analysis of the independence of the judiciary, the existence of corruption within the judiciary, and the ability of individuals and businesses to fulfill contracts.

The Global Property Guide considers the protection of property rights as an important factor influencing the desirability of a residential property investment.

Source: The Heritage Foundation and the Wall Street Journal

Statistics in Latin America. All of the Latin American region has few statistics, and property prices are a particularly weak area. The only property prices are time series in Colombia and Uruguay.

Chile	90.00
Uruguay	70.00
Brazil	50.00
Costa Rica	50.00
El Salvador	50.00
Mexico	50.00
Suriname	50.00
Colombia	40.00
Guyana	40.00
Peru	40.00
Argentina	30.00
Ecuador	30.00
Guatemala	30.00
Honduras	30.00
Panama	30.00
Paraguay	30.00
Bolivia	25.00
Nicaragua	25.00
Venezuela	10.00

Global housing markets in the review and forecasts for 2008

2008-02-02T08:41:00.000+07:00

Global Property Guide
Last update: Dec 19 2007

ANNUAL HOUSE PRICE CHANGE (%), IN LOCAL CURRENCY TERMS
	2007* (LATEST)	END-2006
Bulgaria	30.59	--
China (Shanghai)	27.85	-0.61
Singapore	27.59	10.15
Estonia (Tallinn)	23.38	28.64
Lithuania	13.64	30.95
Philippines	13.04	9.63
Colombia	12.82	6.77
South Africa	12.52	15.12
Norway	11.56	16.67
Hong Kong	11.25	4.11
Australia	10.63	9.71
Latvia	10.22	68.99
Sweden	9.86	10.50
UK	9.68	10.49
South Korea	9.01	11.60
Poland	8.38	9.67
France (Paris)	8.27	9.70
Japan (6 cities)	7.75	4.12
New Zealand	6.67	11.86
Canada	6.13	10.74
Finland	5.88	6.56
Italy	5.60	6.30
Spain	5.31	9.14
Indonesia	5.24	6.60
Greece	4.18	10.54
Denmark	3.95	14.94
Netherlands	3.77	4.73
Malaysia	3.20	4.80
Switzerland	2.56	3.24
Germany	2.04	3.06
Portugal	0.49	0.65
Israel	-0.51	-3.16
Thailand	-0.78	1.87
Japan	-1.48	-2.78
Ireland (monthly)	-4.68	11.8
US (NAR)	-5.07	-0.18
US (FHFB)	-3.49	-1.9
US (OFHEO)	1.79	6.03
* latest available Source: various series, list of house prices, data and sources here

The US housing market continues to weaken.

US home prices dropped 5% y-o-y to October 2007, to an average of US$207,800, based on sales recorded by the National Association of Realtors (NAR) (or 8.46% in real terms).

The Office of the Federal Housing Enterprise Oversight (OFHEO), which produces an arguably more widely-based index, saw prices rising 1.8% to end Q3 2007 from a year earlier, which translates to a fall of 0.6% when adjusted for inflation. 10 states in the OFHEO index experienced price falls, including Michigan (3.7%), California (3.6%), Nevada (2.4%), Massachusetts (2.3%), Rhode Island (2.2% and Florida (2.1%). Only two states registered house price growth of more than 10% y-o-y to end Q3 2007, Utah (12.9%) and Wyoming (11.8%).

Canada’s housing markets are also showing signs of slowing. The new housing price index rose 6.1% to end-Oct 2007 from a year earlier (3.7% in real terms), lower than the 11.4% (10.3% in real terms) y-o-y price rise to Oct 2006.

Europe

Most European housing markets slowed. Ireland’s house price plunge continued, with a 4.68% y-o-y drop to October 2007. When adjusted for inflation, the drop is more pronounced at 9.1%. The Irish housing market is vulnerable to interest rate changes, as 85% of mortgages are variable rate.

The Baltics performed quite well in terms of house price changes from a year earlier, but the latest quarterly data presents a picture of a region whose housing markets are in trouble.

In Latvia apartment prices have dropped by 7.7% to September 2007, over a quarter earlier. Lithuania’s apartment prices have stagnated at LTL 12,500 (US$5,213 or €3,620) per sq. m. in the last two quarters. In Estonia quarterly house prices increased by 23.4% y-o-y to Q3 2007, lower than the 28.6% growth to end-2006.

Norway’s housing markets are showing signs of nervousness, despite a strong performance this year. The house price index for the entire country increased 11.6% y-o-y to Q3 2007 (11.9% in real terms due to slight deflation). However, prices in the metropolitan area of Oslo-Baerum fell 0.5% from Q2 to Q3 2007. The housing market is facing more uncertainties as the Norges Bank raised its key policy rate by 25 basis points to 5.25% in December 2007.

* Last year available
Source: series, the list of property prices, data and sources here

In 2007, the U.S. housing market crashed, and the Europe of the real estate market has slowed. But the prices of houses in the Asia-Pacific region has grown.

Bulgaria saw the most powerful of the world to the rise in house prices of 30.6% (15.4% in real terms) at the end of Q3 2007 compared to a year earlier.

Shanghai's red hot housing market continued to recover, despite efforts by the government to cool the market. The price of homes has increased by 27.85% at the end of October 2007 compared with a year earlier, a significant turnaround from 0.6% decrease in 2006.

Singapore has recorded an annual increase in house prices of 27.6% (24% in real terms) at the end of Q3 2007, significantly higher than the 7.6% price increase over the same period in 2006. In real terms, Singapore is the country with the best performance of the housing market, taking into account inflation of only 2.66%.

House prices have increased by more than 10% from year to year (yoy), in nominal terms, in many developing countries - the Philippines, Colombia, South Africa and Hong Kong. However, when adjusted for inflation, the price increases were generally much lower.

In Europe, most countries have registered unimpressive house price trends yoy in 2007, apart from Norway and Estonia.

Prices of real estate in Ireland, the decline began in 2007, the first time in more than 15 years. The Irish housing market is the largest and longest boom in housing prices in developed countries, in recent memory.

The prices of urban land in Japan, the six largest cities rose by 7.75% in the first half of 2007. Although Japan national index of urban land prices fell by 1.48% in 1H 2007, this represents an improvement of 2.8% of the price decline in 2006. The Japanese index of the prices of urban land is generally believed to lag reality, a significant recovery is underway in the Japanese real estate market.
Interest rates

The recent downturn in property prices in Europe and the United States is mainly due to the rise in interest rates.

In Europe, the European Central Bank (ECB) raised its key interest eight times in 15 months. The rate was increased to its current level of 4% by June 2007 from its historically low level of 2% in November 2006.

In the United States, the Federal Reserve Bank raised its key lending rate 17 times in 24 months during 2004-2006. The federal funds rate has risen sharply Americans from its historic low of 1% in May 2004 to 5.25% in June 2006.

As signs of strain on the housing market began to emerge in mid-2006, the Fed has kept its key interest rate at 5.25% for 14 months to August 2007.

When the boom in the real estate market in the United States turning to a bust, the Fed cut rates in September by 50 basis points and, in October and December by 25 basis points, bringing the rate to 4.25 %.

The central banks of the United Kingdom and Canada reduced interest rates by 25 points in December 2007.

Some would say the Fed has raised rates "too much, too soon," and it is now frantically reducing interest rates to avoid a recession. Others, however, suggested that the weakness of the mortgage market surveillance of American loan is the leading cause of the current crisis, combined with a structural shift toward off-balance sheet loans.

The ECB has stubbornly slow adjustments, however, allowed the euro area, the diversity of housing markets to adjust pretty well. Only the most expensive housing market, Ireland, has crashed, while the rest are mostly slow.
USA and Canada

ANNUAL HOUSE PRICE CHANGE 2007* (%), ADJUSTED FOR INFLATION
	INFLATION-ADJUSTED	NOMINAL
Singapore	24.29	27.59
China (Shanghai)	20.04	27.85
Bulgaria	15.42	30.59
Estonia (Tallinn)	15.08	23.38
Norway	11.93	11.56
Lithuania	11.43	13.64
Philippines	9.88	13.04
Hong Kong	9.44	11.25
Australia	8.60	10.63
Sweden	7.86	9.86
Japan (6 cities)	7.86	7.75
UK	7.49	9.68
France (Paris)	7.01	8.27
South Korea	6.53	9.01
Colombia	6.40	12.82
Poland	5.81	8.38
New Zealand	4.59	6.67
South Africa	3.77	12.52
Canada	3.66	6.13
Finland	3.29	5.88
Spain	2.88	5.31
Netherlands	2.44	3.77
Denmark	2.29	3.95
Italy	2.08	5.6
Switzerland	1.91	2.56
Malaysia	1.73	3.2
Greece	1.54	4.18
Germany	-0.40	2.04
Latvia	-1.02	10.22
Indonesia	-1.18	5.24
Japan	-1.38	-1.48
Portugal	-1.68	0.49
Israel	-1.86	-0.51
Thailand	-2.81	-0.78
Ireland	-9.08	-4.68
US (NAR)	-8.46	-5.07
US (FHFB)	-6.79	-3.49
US (OFHEO)	-0.56	1.79
* latest available Source: various series, list of house prices, data and sources here

US house prices decreased by 5% year on year to October 2007, to an average of US $ 207,800, based on sales recorded by the National Association of Realtors (NAR) (or 8.46% real terms).

The Office of Federal Housing Enterprise Oversight (OFHEO), which produces a doubt more widely based on the index, saw a price increase of 1.8% at the end of Q3 2007 compared to a year earlier, reflecting to a decline of 0.6% after adjustment for inflation. 10 States in the OFHEO index experienced a fall in prices, including Michigan (3.7%), California (3.6%), Nevada (2.4%), Massachusetts (2.3%) Rhode Island (2.2% and Florida (2.1%). only two states Recorded growth in house prices of over 10% year on year to the end of Q3 2007, Utah (12.9%) and Wyoming (11.8%).

Canada's housing markets are also showing signs of slowing. The price index of new homes rose by 6.1% at the end of October 2007 from the previous year (3.7% in real terms), less than the 11.4% (10.3% in real terms) yoy to higher prices Oct 2006.
Europe

Most European property market slowed. Ireland's house prices continued to plunge, with a 4.68% decline year-on-year to the end of October 2007. When adjusted for inflation, the decline is more pronounced at 9.1%. The Irish housing market is vulnerable to interest rate changes, as 85% of mortgages are at variable rates.

The Baltic countries performed fairly well in terms of trends in house prices compared to a year earlier, but the latest quarterly data presents a picture of a region whose housing markets are in dire straits.

In Latvia, apartment prices fell by 7.7% in September 2007, more than a quarter earlier. Lithuania's apartment prices have stagnated at LTL 12500 (US $ 5213 or € 3,620) per sq M. In the last two quarters. In Estonia quarterly property prices rose by 23.4% yoy in Q3 2007, lower than the 28.6% growth at end-2006.

Norway in housing markets are showing signs of nervousness, despite a good performance this year. The house price index for the whole country increased by 11.6% year on year in Q3 2007 (11.9% in real terms because of a slight deflation). However, prices in the metropolitan area of Baerum-Oslo fell to 0.5% from Q2 to Q3 2007. The housing market is facing more uncertainties that Norges Bank raised its key interest rate by 25 basis points to 5.25% in December 2007.

Spain has registered 5.31% growth year-on-year real estate prices in Q3 2007, the lowest rate of increase in nine years. Interest rates were higher dampened demand, and banks have become very cautious in granting housing loans.

A slowdown was also evident in the UK, although less than expected. British house prices rose by 9.7% year on year in Q3 2007, less than 2006 year-on-year increase of 10.5%. When adjusted for inflation, the rise in house prices in the 3rd quarter of 2007 was 7.5%, slightly higher than the 7.3% increase in 2006.

The price of real estate in Italy and Greece have also cooled. Mortgages on these markets are essentially based on variable interest rates.

Although mortgages in Denmark, France and Germany are mostly based on fixed interest rates, their housing markets have cooled, however. Other European countries that have experienced a slowdown in house prices are Sweden, Poland, Finland, the Netherlands and Switzerland. France has increased tax deductions on mortgage interest rates, a measure should hold strong demand for housing.
Asia

Housing markets in several Asian countries has gained momentum during the first three quarters of 2007, reflecting to some extent the continuing recovery in the Asian crisis of 1997.

The sharp rise in property prices in Singapore, South Korea and Japan were mainly due to strong economic growth. Mortgage Markets in Asia are generally underdeveloped. Hence the effect of changes in interest rates on the housing market is indirectly channeled through the entire economic performance. With electronic products as the main export products of developing countries, economic growth is expected to fall if the global economic recession took place in 2008.

In the Philippines, the demand for houses and condominiums came mainly from families of Filipinos overseas.

Price increases in China are subject to strong government intervention. Left free, real estate prices are expected to increase due to economic growth and rapid urbanization. The oil boom in the price are the Beijing Olympic Games in 2008 and the 2010 World Exposition in Shanghai.

In Thailand, political problems have led to low economic growth and the decline in property prices. Property price changes, Indonesia and Malaysia remain unimpressive. Although the national index of house prices in Indonesia rose by 5.2% in nominal terms, at the end Q-3 2007, the index actually fell by 1.2% when adjusted to inflation. In Malaysia, the index of house prices rose by 3.2% (1.7% in real terms) in Q2-2007 as compared to a year earlier.
Pacific

Prices of real estate in Australia continues to recover from slowdown of the housing market during 2004 to 2005. The price at home for eight cities grew by 10.6% in September 2007 compared to the previous year, which is slightly higher than the annual increase of 10.1% in September 2006. Except for Sydney and Perth, Australia, the other big cities have seen increases in house prices of over 11% year on year to September 2007.

The availability of housing finance combined with a lack of supply fuelled house price increases in 2007, despite rising interest rates. Population growth of immigration and the skills shortage in the construction sector has also contributed to higher prices.

Two figures for residential property prices are likely to persist in 2008 in Australia.

No radical changes in immigration policy should now that the Labour Party is in power, and new systems to help low-income renters and home buyers are likely to increase the demand for housing.

Signs that New Zealand has the boom in house prices is coming to an end came in the second half of 2007. Although the national median house price rose by 6.6% year on year to 352,000 New Zealand dollars, in November 2007, it was the lowest annual increase in house prices since February 2003.

The Reserve Bank of New Zealand (RBNZ) raised its reference interest rate four times between March and July 2007 to 8.25%. The market downturn is expected to continue in 2008, and is expected to last until 2009.
Middle East and Africa

The depreciation of the dollar against major currencies could benefit the Middle East property markets. As the currencies of the countries of the Gulf Cooperation Council (GCC) are pegged to the American dollar, the markets for their goods become less expensive as the dollar depreciates - when everyone expects their currency eventually be revalued against the dollar American.

The biggest concern is oversupply. Dubai is flooded with new properties to be delivered in 2008 and 2009. The fall in demand from international buyers because of a slowdown in the global economy could exacerbate the problem. The speculative nature of the housing market makes it very sensitive to Dubai.

In South Africa, the boom in house prices came to a stop. The annual growth in house prices peaked at 33% at end-2004. Since then, the house price growth began slowing down, and dropped to 13.6% year on year to the end of October 2007. Corrigés of inflation, the index of house prices rose by only 5.3%. The slowdown was due to higher interest rates, lower economic growth, and The National Credit Act, implemented in June 2007, which imposed stricter rules on loans.

Israel'smarket showing signs of recovery. The average price of owner-occupied housing increased by 4.6% (2.5% in real terms) in Q3 2007 from the previous quarter. However, it is still 0.5% () 2006