Around the globe there is a tremendous amount of prime real estate simply not being used for any real purpose whatsoever. Many, if not most, property owners do not realize that if they have a large, flat roof there are some really fun and interesting options for what they can do with this space. In fact, these options can even enhance their lives by giving them not just more space, but a different space than what they currently enjoy. The Hut puts a spotlight on this idea quite nicely.

Hut is a rather clever idea developed by architect Scotty Batty and designer Morag Myerscogh. Myerscough wanted a private space for her kitchen in London and decided that she would build a mini-space right on top of the third floor of her 1890’s home. The end result was the hut.

The Hut is reached by climbing up a simple staircase and while it is only a few feet away from Myerscough’s existing home it feels literally like she is at a retreat home every time she uses it. Due to the fact that the Hut has such a different design aesthetic, the Hut has become something of an escape.

Myerscough notes that the Hut gives her different light than in her 1890s home as well as a different feel. Much of this “different light” comes from the fact that the Hut has a large skylight and doors that can be opened to create a very free and flowing space. The design of the Hut is such that it creates a great deal of quite and even privacy as the addition is not visible from street level.

The Hut is constructed entirely out of timber with an eye toward sustainability. Solar panels also provide for much of the Hut’s power in keeping with this sustainable and green theme.

Part of the Hut’s considerable charm is that the design showcases how much existing space is currently not being properly utilized all over the world. No doubt it is rather sad that there is so much great rooftop space not being enjoyed in some fashion or another and the Hut, with its fresh design, truly underscores this fact.

http://www.comingunmoored.com/2009/07/hutonaroof/

interesting review brought by Moishe Alexander, CFC Canadian Funding Corp CEO

Financing for multi-unit (5+ unit) residential buildings comes in two varieties:

* CMHC Insured
* Non-CMHC Insured

People with healthy down payments frequently ask why they’d ever want to pay the CMHC premium if they can simply get a conventional mortgage.

Let’s take a $500,000 loan at 75% LTV, for example, on a 5-unit building. CMHC’s premium is 2.25% for a 25-year amortization. That’s $11,250—not exactly chicken feed.

But here’s the thing. Lenders consider multi-unit financing to be much safer when it’s insured. That means there’s less of a risk premium and borrowers get better rates on CMHC-backed deals. “There is a 200 basis point difference between that and a conventional loan,” First National’s, Jeremy Wedgebury, told BrokerNews.ca.

What many don’t realize is that this 2% rate differential translates into big dollars. On that same $500,000 mortgage, a 2% lower 5-year rate would save almost $34,000 after accounting for the $11,250 premium and CMHC’s $750 application fee. Moreover, the property cash flows better because the payment is 16% lower.

In sum, with multi-unit apartments, “pay to save” is often a good motto.

http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2009/07/cmhc-insured-multi-residential-financing.html

reviewed by MOISHE ALEXANDER, CFC Canadian Funding Corp CEO

Global Demographics 2009: Shaping Real Estate’s Future explores how demographic trends are affecting real estate investment and development decisions worldwide. The publication, the second in an annual series from the Urban Land Institute, examines major factors that affect land use, namely population growth, urbanization, aging and migration.

Some of the book’s highlights include:

* The greatest population increases worldwide in the next 40 years will occur in China, India and the United States.
* The population of Europe will decline between now and 2030.
* Mature but still growing economies, including the U.S., Canada, U.K., Ireland, Australia and New Zealand, will offer attractive real estate investment and development prospects once the recession subsides.
* The developed world’s large workforce is aging rapidly while the young labor pools in the Middle East, Africa and South Africa are expanding.
* Fertility rates have dropped globally, even in developing countries.

The report states that demographics are the foundation of real estate decision-making. Population, household and income characteristics, along with the direction of future trends, determine whether demand will exist for new housing or retail space. Growth in the labor force and its composition strongly influence the success of office and industrial properties.

http://www.realestateindustrywatch.com/book-describes-impact-of-global-demographics-on-real-estate%E2%80%99s-future/

brought by Moishe Alexander, CFC Canadian Funding Corp CEO