Investors thinking of dipping into a US foreclosed homes auction have been warned by an expert to do their research before taking the plunge. Jamie Smith Hopkins of the Baltimore Sun warns advice from real estate investors suggests there is ‘no guarantee’ of getting a bargain when chasing a home put up for sale after being repossessed.

She writes asking prices could be more than houses are worth while some properties may require more work than some buyers can afford. The blogger also states:

“Some lenders keep a list of their post-auction properties - known as “Real Estate Owned,” or REO - on their Web sites. Countrywide, last I checked, had more than 250 in Maryland.”

Other tips include making sure you are prepared to pay a deposit before going to bid at auction. The Chicago Tribune also recently said property investors should go looking for foreclosure bargains “with eyes wide open” as a lot of hard work can follow a purchase.

Advice from experts quoted by the paper included looking out for heavy weather damage or vandalism to homes, and checking for old plumbing and electrical systems which could be costly to upgrade.

British overseas property investment shot up by 21 per cent last year, statistics show. Figures from the Association of International Property Professionals (AIPP) say in 2007 the British spent a massive £246 billion on homes abroad.

Property investment company Obelisk also revealed the newer markets of Bulgaria, Turkey and Romania are catching up with the likes of Spain on the list of property investment choices, although the latter still holds more than a 25 per cent share of the market.

France weighed in at second with 17 per cent and the US was third with 9.7 per cent. AIPP chief executive Paul Owen, said:

“The choice available to the buyers is vast but big markets, even fast-changing ones like this, are relatively slow to make enormous shifts.

“When we add in other established markets like Italy, Portugal and Cyprus, nearly two thirds of property purchases last year were in established, familiar markets.”

However, the group added Bulgaria has been a “trailblazer” in terms of emerging markets, with six per cent of purchases by British buyers made in Bulgaria last year.

Mr Owen added:

“Bulgaria had almost a free ride as the emerging market for two to three years. It certainly made the most of it as it quickly grew market share. What is interesting in the figures for 2007 is that it has held up pretty well in the face of so many new entrants in the ‘emerging market’ category.”

A report from experts Knight Frank has revealed student accommodation is now more profitable than most other types of property investment. According to Home Move, the company’s Bricks & Mortarboard Student Accommodation Review shows weekly rents for students are on the increase.

The site says the report lists Edinburgh as the best property investment hotspot for student digs due to the city’s lack of private and institutional bed spaces. Home Move reports:

“According to the report, student accommodation has seen total annualised returns of 10.2 per cent over five years and Knight Frank says it expects student property to continue to be more profitable than other property investment sectors for the next three years.”

The Independent has also previously said student digs are a hot bet thanks to rule loopholes. The paper reported flats in student halls of residence are the only forms of residential property that can be held in self-invested personal pensions (Sipps), offering tempting tax breaks.

A total of 21 schools make up the University of Edinburgh, contributing to the thousands of students who flock to the city every year for higher education. The institution recently unveiled a new scholarship ‘pooling’ scheme which will make it easier for firms to recruit gifted students.

A US property auction firm is gearing up to flog one of the biggest lots it has ever handled – an entire city. Higgenbotham Auctioneers International (HAI) announced it will handle the sale of White’s City, New Mexico, which has been managed by the White family since the beginning of Amercica’s ‘roaring 20s’ boom era.

Members of the family said younger generations are less interested in running the town, meaning the decision had been taken to offer it up for auction. Charles Dugger, the oldest of the family members who manage the legacy, said:

“It’s time to move on. We have spent our lives here, our children have interest outside this area and have chosen not to continue.

“We are excited to offer this city, our home, to a new visionary that will continue its 80 year legacy.”

Based near Carlsbad Caverns National Park, the success of White’s City is based on the throngs of daily visitors to the area.

Facilities include two operating motels with 105 rooms, an RV park with 46 spaces, 25 camp sites, a post office, grocery store and two restaurants. Also up for grabs as part of the deal are gift shops, a gas station, a museum, an opera house and even an ice cream parlour.

The entire municipality and surrounding acreage will be offered on July 14th at 11am.

HAI national business director Laura Whitt said:

“The potential here is awesome. There are ten individual business enterprises operating in White’s City with each of them being profitable and self sustaining. Combined, the assets are a watershed that has unlimited potential.”

Three UK high street mortgage lenders have upped the costs of their fixed-rate home loans. Bradford & Bingley, First Direct and the Co-operative bank stepped up fees on Wednesday as banks continue to find it harder to lend.

The move may hits property investors letting property while others will have been deterred from buying thanks to the increases.

The Co-op hiked its three-year fixed rate by 0.7 per cent and its five-year rate by 0.9 per cent. Bradford and Bingley increased its fixed rates by between 0.5 per cent and 0.7 per cent while internet and phone bank First Direct moved its two-year fix to 6.15 per cent, up 0.16 per cent.

Finance Markets reports HM Revenue and Customs recently said the number of house sales in the UK fell by 13 per cent in May compared with April.

And on Thursday Moneyfacts reported the average rate for two-year fixed rate mortgages has now broken the seven per cent mark. Moneyfacts mortgage experrt Darren Cook said:

“As the rates on offer increase, so does the relative risk. More and more borrowers are likely to find the increased repayment too much to bear.”

“However, it seems not all is lost as there could be some light at the end of the tunnel for borrowers. Today, swap rates have decreased from its 6.52 per cent high last week, by 0.16 per cent to 6.36 per cent.”

He added the firm hoped this downturn was not “short-lived” and that lenders will play a “fair game” by reflecting the decrease in the rates they offer over the next few weeks.

Bahrain is stepping up its real estate development drive with the unveiling of a master plan city involving up to 30,000 homes. Diyar Al Muharraq was launched on Wednesday and will involve an estimated BHD 1.2 billion ($ 3.2 billion) worth of investment, with Kuwait Finance House the main stakeholder.

More than 100,000 people will be housed by the project when it is completed and developers said the long-term plan was to support a social housing programme. Based on the northern shores of Muharraq, the development is set to be released to property investors in stages, with the first facilities ready for use in 2010.

Aaref Hejres, chief executive officer of Diyar Al Muharraq, said:

“This is the first time that a private developer in Bahrain has invested in a development that includes various levels of housing as one of many options, all of which will share the same high standard of living and amenities.”

He added the project’s goal was to be part of a “concerted housing strategy” for the Kingdom. The new city’s comprehensive community services will include recreational, school, medical and retail facilities. Around 40 kilometres of waterfront, together with sandy beaches, will also form highlights of the development.

US real estate experts have highlighted ten business niches set to grow thanks to the country’s foreclosure crisis. US News turned to the knowledge of Robert Kiyosaki, a columnist and author, and Rick Sharga, vice president of marketing for real estate information provider RealtyTrac.

The resulting article gives a run-down of ten business ideas related to property which could benefit small entrepreneurs. Among suggestions on the list is founding a property preservation specialist firm to help banks get repossessed homes ready for the market.

The article also states:

“As retailers close locations, there’s a business opportunity in helping those business owners find replacement tenants.

“In the real estate industry, this is known as a disposition, and it can involve subleasing by the existing tenant or arranging a settlement where the existing retailer bows out and a new one gets a new lease from the landlord.”

Foreclosure information sales is another market listed by the run-down, which cites the example of RealtyTrac’s paid subscriptions success. The Los Angeles Times recently reported the foreclosure crisis had now spread to the luxury homes market, meaning top properties are available for knock-down prices.

The paper said a hilltop Spanish-style villa in the attractive Napa Valley recently went for $1 million (£510,000) two years after it sold for $1.4 million (£717,000) in a sale experts say may become more common.

The top ten opportunity tips can be read at US News.

A total of 150 exhibitors have already signed up to the 2008 edition of the largest UK property investment event. The Property Investor Show will run from September 19th to 21st at London’s ExCeL centre and expects a further 150 firms to commit before the event goes ahead.

Organisers also said this year’s show will feature an exclusive zone for the Association of International Property Professionals (AIPP), the official body responsible for guiding and regulating the international property industry. Show managing director Nick Clark said:

“Professional property investors are still looking to expand their portfolios, in the UK and abroad, and expert advice will be essential to them going forward.

“The wider spectrum of opportunities in emerging foreign markets will certainly be of interest. We believe that the AIPP zone will be a significant additional attraction.”

Major house builders, property developers, estate agents, lenders, brokers, training companies and landlord associations will all be appearing at the event.

Alistair Powell, chief executive of 7CI, Seven Continent Investment, will be exhibiting at the show.

He said:

“We are confident that the level of interest from serious property investors will be equally high and are looking forward to the opportunity to network with other industry professionals.”

A programme of over 100 seminars will also be held at the show.

The world’s first moving building is to be built in Dubai after plans were drawn up by a visionary Italian architect. David Fisher unveiled the Dynamic Tower project at a New York press conference, saying it would feature 80 floors and be 420 metres tall.

Units will spin a full 360 degrees around a central column thanks to 79 giant wind turbines positioned between each floor. Dr Fisher also revealed plans for a second edition of the building, to be constructed in Moscow, are already at an advanced stage and added more were on the way.

He said:

“Additional Dynamic Towers will be built around the world, following an expression of interest from developers, governments, and public officials to construct a Dynamic Tower in Canada, Germany, Italy, Korea and Switzerland.”

When complete the building will constantly change shape, resulting in a “unique and ever evolving” architectural structure. Dr Fisher added:

“The Dynamic Tower is environmentally-friendly and the first building designed to be self-powered, with the ability to generate its own electricity, as well as for other nearby buildings.

“It achieves this feat with wind turbines fitted between each rotating floor.”

Dr Fisher has spent more than 30 years working on unusual buildings in locations such as London, New York, Moscow, Hong Kong, Paris and Dubai. A demonstration of the moving building can be viewed at www.dynamicarchitecture.net.

The US foreclosure crisis is starting to hit families renting houses as their landlords fall behind with payments. Tenants even with perfect credit and payment histories are being evicted in record numbers because owners are delinquent on monthly mortgage commitments.

When a rented or leased home enters foreclosure, US banks and landlords have no legal obligation to inform the tenants. This means many renters are the last to know there is a problem, according to Boise Real Estate Info.

The site says:

“Many discover their imminent eviction only when they come home to find an official notice from the lender posted on the door.

“In the worst cases, for example if families were away on long vacations when notices were posted, they return home to find the locks changed and their belongings in the street.”

According to the site, around 40 per cent of all single family home foreclosures in Los Angeles involve rented or leased property, and those figures are rising monthly.

A statement from the site also said the rental tenant-foreclosure situation in LA and other US cities is reaching “a boiling point”.