Florida Specialists Torcana Ltd launch spectacular beachfront development in St. Petersburg

Waterside at Coquina Key is in St Petersburg, one of the most famous towns in the State of Florida being renowned for its natural beauty, coastline and national parks.

This is a stunning waterfront resort built on a private island in a colonial style and is right next to the wealthy and historical town of St. Petersburg. A private marina is on site and all units are concrete build. The resort consists of two villages: one in the north and the other in the south. Each property is waterfront facing with a variety of canal, lake and bay views.

Community amenities are second to none with restaurants, pools, spas, fitness centres and yacht club.

Purchasing direct from the developer, there are long term tenants in place who will be generating an income on the property from the day you complete. Torcana clients benefit from exclusive discounts on current developer sales prices and very healthy net rental yields.

“We’ve been trying to locate high quality and highly discounted oceanfront Floridian property for quite some time - and we’ve found something very special” comments Torcana Director Colin Murphy. “This is a genuinely beautiful resort, every property is waterfront facing, which is extremely rare” he continued.

Prices start at just $58,900 / €41,120 / £35,700…

Colin and his colleagues would like to invite you to visit www.torcana.com.

1. 1 bed condos (1 bathroom): Starting from $58,900 / €41,120 / £35,700
2. 2 bed condos (1 – 2.5 bathrooms): Starting from $92,907 / €64,850 / £56,300
3. Choice of four floor plans
4. Tenants in place
5. Exclusive Torcana units available between 30-40% of the peak purchase prices
6. Full after-sales services available
7. Net Rental yields in the region of 6%

Availability is limited and sales have been brisk, therefore please contact us via www.torcana.com for an information pack including the full brochure, floor plans, price lists, further images and to register your interest.

Contact Info:

Colin Murphy
29 Ballsbridge Rd, Dublin 4, Ireland
Dublin, Ireland, 28003
Telephone +353 1 4434 466
Fax: +353 1 258 6016
Website: http://www.torcana.com
Email: investments@torcana.com

US Mortgages for foreigners have finally arrived

Hundreds of you have asked us about mortgages in Florida and we have been in negotiations with dozens of US based banks over the past year in attempts to secure them. It has proved very difficult to say the least – there were far too many brokers and banks talking the talk and nothing more. However, and at long last, we are delighted to announce that we have finally managed to secure local financing for our clients.

Superior Bank successfully arranged mortgages recently for foreign nationals this summer and I’ve seen the proof with my own eyes. In a nutshell, if you have a job with steady income and you can prove that you have a 30% deposit and no bad credit history your application will be successful.

Request your Mortgage Information Packs on Torcana.com

Think about it – two bed tenanted waterfront properties costing $90,000 can now be financed for just $27,000 (€18,400 / £16,375). Three bed two bath tenanted properties near Disney costing $116,500 can be financed for just $34,950 (€23,800 / £21,150). Details of both these projects are on http://www.torcana.com

If you’d like to receive a full information pack on financing packages available, simply visit the new US Mortgage Section of our website and we’ll send one right out to you.

Dramatic Inventory Falls in Florida

At the beginning of 2009, Florida seemed to have an unimaginably large supply of property: 23.6 months worth. It is now 8.4 months and because new construction activity is still minimal, it is set to fall further. A market with 6 months supply is considered by economists to be balanced between buyers and sellers.

Let’s look at it another way – the last nine months in Florida has been a little bit like one huge Brown Thomas or Selfridges sale. While there’ll still be products discounted at 60-70% in six months time, the best quality merchandise and the best deals will always be snapped up by those queuing to get in at the start. We know this because Torcana.com have been right in the thick of it all year and can see it happening everyday.

Torcana hails Growing confidence in Global Markets

As Dusty Springfield famously sang, “the world goes round without even a sound, and it looks like summer is over”.

Dusty was spot on regarding the second part of that lyric but the property and financial worlds were making plenty of noise over the past few months.

Growing confidence in the markets

Stockmarkets have rebounded, as have equities and commodities. Investors have regained their appetites for debt and the interest rates at which banks lend to each other has fallen back to near pre-crisis levels. Ben Bernanke, the Fed Reserve chief, has announced that the worst recession since 1929 was “very likely over at this point“. The Sage of Omaha himself (aka Warren Buffett), told CNBC yesterday that “the US housing crisis was over“.

Confidence is also growing rapidly amongst large investors. I’m not just talking about hedge funds starting to actually buy shares again rather than short them, but also about pension funds and private equity groups buying huge amounts of distressed property in places like Florida.

Twice in the last 4 weeks I’ve seen developments with 100-300 units for sale taken off the market because single groups have purchased them outright, swiping the rug out from under the feet of those who were considering purchasing one or two units.

For more information please visit us at : http://www.torcana.com

When Irish eyes are crying...

Like many Irish people living abroad, I’ve been paying a lot of attention to the political and economic situation back home. Unfortunately it looks increasingly likely that Ireland is going to be very volatile over the next 6-12 months. The Lisbon Treaty is coming up in early October, which is extremely important to ratify but a huge distraction in terms of rebalancing the economy and overall employment.

There is also a budget coming in October where details of roughly $5billion in cuts/savings in public expenditure will be announced which will face very heavy resistance from the unions and large sections of the general public.

But of course, our headlines will also be dominated by the NAMA legislation due to be debated shortly. It is probably the most controversial and most important legislation that our country has ever debated. I’m far from convinced myself that the government are taking the correct course of action with this.

No doubt many politicians and bankers are wishing they’d taken a different career path!

Alas, the Irish economy is far from recovery and property prices need to fall an awful lot more before they’ll get this investor interested. However, and belatedly, other countries are positively brimming with opportunities.

Encouraging Signs of Economic Recovery

Led by China, Asia’s emerging economies have revived fastest, with several expanding at annualised rates of more than 10% in the second quarter of 2009. A few big rich economies also returned to growth, albeit far more modestly, between April and June. Japan’s output rose at an annualised pace of 3.7%, and both Germany and France notched up annualised growth rates of just over 1%.

Australia is doing exceptionally well and is, by some measures, the best peforming advanced economy over the past year. Most economies are still smaller than they were a year ago. On a quarterly basis, though, they are turning the corner.

Closer to home, and in complete contrast to Ireland, our cousins in the UK had the ability to pump enormous amounts of liquidity into their financial systems to help kick start their economy. While they will have huge public debt as a consequence – the ripple effects of this liquidity on their housing markets has been dramatic.

Every single region in England and in Wales recorded a monthly rise in house prices between June-July 2009. The average monthly increase was 1.7% – the biggest in five years.

Mortgage approvals are now at a 17 month high and 77% more mortgages were approved in July 2009 compared to July 2008. The number of transactions is also increasing steadily.

Torcana Ltd is a property investment consultancy dealing with investments in foreclosed property, distressed property, and discounted property in USA, Spain, UK, and Panama. For more information please visit: – http://www.torcana.com

Summer Launch in Florida: Earn $10k per year in net income!

I think we all know organizations who succumb to that August temptation of winding things down a little, of finishing the day earlier and pushing the big projects back to September. Not in this company though.

Less than 3 weeks after our last big launch I am writing to you today about a brand new project in the Kissimmee / Lake Buena Vista region of South Orlando. It’s a real beauty and is one of the best income generating developments I’ve seen in the region. In terms of location, rental yield and cashflow – it’s going to be very hard to beat. Download the brochure using this link: http://tinyurl.com/floraridge.

With the US dollar very low this week (£1= $1.70) (€1= $1.44) there has not been a better time to buy in many years.

For more information please visit us at: http://www.torcana.com