Apres-Ski

European tax haven Andorra enjoys the same fiscal benefits as better known Monaco, adding to property demand from those looking for residency in a tax shelter as well as traditional ski chalet buyers who flock to the country between December and April each year.

With the end of the ski season last month many ski resorts in Europe have closed up shop until early December with overseas property owners having little prospect of rental income in the summer months.

But tiny Andorra, nestled between France and Spain in the Pyrenees and the sixteenth smallest country in the world, is increasingly attracting out of season tourists and property owners are seeing a rise in overall occupancy levels and return on their investment.

Cycling, pony trekking and hillwalking are some of the pursuits attracting tourists and potential property owners heading for the mountains outside of Andorra's ski season. Andorra's capital la Vella is full of duty free shops, restaurants, clubs and bars. Coupled with the mountain scenery and lakes Andorra has seen a rise in the number of out of season tourists in recent years, and the letting season extend from just the winter months to include the spring and summer.

For a country with a population of 77,000 Andorra attracted a surprising 9 million tourists last year, and with more visitors in the summer months predictions are that this will rise to ten million this year.

Ryanair and easyJet are two of the low cost carriers flying to Barcelona and Girona airports from major European cities, the onward journey time to Andorra's capital la Vella is two and a half hours by coach or car.

Andorra Property News at http://www.propertyandorra.com offer a free 28 page guide covering banking, applying for residency and the towns and villages of Andorra to those considering moving there plus details of apartments and chalets for sale, with prices starting from 157,000 Euros for a furnished one bedroom apartment in Els Cortals ten minutes from the ski slopes.

Andorra Property News is able upon request to e-mail details of over 40 properties for sale in Andorra by visiting http://www.propertyandorra.com

More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.

The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000.

A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways.

They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.