Buchman Home Page

6 room, garden apartment, Sara Imeinu – for sale

DebbieG — Sun, 27 Mar 2011 13:05:03 +0000

Brand new, spacious 6 room flat located at beginning of Sara Imeinu (south Buchman) for sale. Immediate occupancy.

Autumn 2010 glance at the Buchman real estate market

DebbieG — Tue, 09 Nov 2010 10:29:25 +0000

Unlike the weather in Modiin, which doesn’t seem to be affected that much by the seasonal changes, the real estate market is experiencing a typical autumn term. Following a busy and successful summer period, the market has once again lulled and very little activity is taking place. In Buchman in particular, there are few buyers and even less (serious) sellers around. The number of high quality homes for sale on the most desirable streets in North Buchman (Yosef, Shimon, Dan, Binyamin) can be counted on a finger or two, while similarly the real estate market in South Buchman shows no signs of much more life. As I have implied in previous posts, most residents of Buchman are young families with school-aged children, therefore the majority of house move-in/outs are planned around the school year so as not to disrupt the kids studies. Another possible explanation for the current lull is the general housing crisis in israel: shortage of new homes available to buy and over priced existing homes for sale. This situation prohibits home owners from selling and moving on due to lack of alternative options and restricts buyers from purchasing at the high and prohibitive prices. For Anglo buyers who’s money is in foreign currency, the situation is further worsened by the low exchange rates.

Medurag (terraced) home, North Buchman – for sale

DebbieG — Tue, 09 Nov 2010 09:32:38 +0000

Beautiful terraced cottage on Shivtei Yisrael Street, North Buchman for sale. Four bedrooms on top floor. Mamad (sealed room) on the ground floor. Asking 2,400,000 NIS (flexible). Possession early summer 2011.

2008 Population Census Data

DebbieG — Tue, 11 May 2010 11:10:43 +0000

Last week, the Central Bureau of Statistics (CBS) published the 2008 population census data, which included a number of statistics about Modiin Maccabim Reut accurate until December 27, 2008.

http://modiinfo.com/index.php/hot-topics/local-news/612-2008-modiin-population-census-data

5-room garden apartment in S.Buchman for rent

DebbieG — Tue, 04 May 2010 09:44:32 +0000

5-room apartment fantastically located in the heart of Buchman Darom close to parks, shuls, kindergartens and school. Available for rent from August 2010.

Tzarfati House on Shimon Street, N. Buchman – for rent

DebbieG — Tue, 04 May 2010 09:38:01 +0000

Beautiful home on one of N. Buchman’s most popular streets, available to rent from July 1 2010 for one year. 6 rooms + basement. Large, well maintained garden.

4-room apartment, South Buchman – for sale

DebbieG — Thu, 18 Mar 2010 09:48:57 +0000

Beautifully designed and immaculately looked after 4 room apartment on Sara Imeinu, Buchman Darom. Ideal location for young couple. Warm and friendly community, close to parks and kindergartens. Available early 2012.

4-room apartment, S.Buchman – to rent

DebbieG — Wed, 17 Mar 2010 14:29:37 +0000

Charming 4-room apartment, located on Sara Imeinu in South Buchman, available for rent from summer 2011. Young and vibrant religious community, shared garden area. Very close to parks, kindergardens and shuls. A great starting home for young family.

New “Mas Rechisha Calculator” in English

DebbieG — Mon, 15 Feb 2010 23:28:07 +0000

Buy-It In Israel real estate website has just launched the first purchase tax calculator in English on the Internet.

2010 outlook for Buchman real estate

DebbieG — Wed, 27 Jan 2010 15:01:09 +0000

Before we look at the outlook for the coming months, let’s take a look at some of the Buchman property deals that closed most recently:

A 6.5 room duplex on Esther Hamalka was recently sold at 2,290,000 NIS and a 6 room semi-detached house closed at 2,400,000 NIS. Rumor has it that a house on Yael Hagibora was also sold at 3,200,000 NIS. This house is extremely well upgraded and “mushka” (heavily invested in). A Tzarafti house on Shimon was rented out lasted month for almost $1800 per month.

What these prices are telling us is that Modi’in real estate and more specifically Buchman real estate is not going down. Property prices are on average 10% higher than last year’s prices and while we are still in the winter months, that figure could climb further.

Two new housing projects in Buchman are in the works and marketing is anticipated to begin during the next few months. Prices are expected to start in the mid-two million shekel range and reach the low 3′s. These are the last 2 plots of land in Buchman and after that, that’s it! This means that anyone that wants to buy a house in Buchman, off-plan, has 2 more chances. The Kablanim paid hefty prices for the land and obviously want to make huge profits too. Once these projects are sold off, the second-hand market for Buchman real estate will likely continue to fly as no new options will be available.

Obviously, high prices turn some potential buyers away and send them to places they may not have otherwise considered, however, people that want to stay in Buchman AND realize the potential for real estate appreciation in the area AND can afford the current prices, somehow adjust to the reality and deal with the situation.

The only thing I see as a possible cause for prices coming down in Buchman is a continuous rise in interest rates which 1. could prohibit the borrowing power for many buyers and reduce their buying budget significantly and 2. cause homeowners to sell if they cannot afford their mortgage repayments.

Lastly, an observation I have made is that unlike previously where almost all of my “sellers” were Israeli clientele, this year approximately 50% of clients looking to sell their property in Buchman are Anglos. My feeling is that this is a natural phenomena since Anglos started buying in Buchman about 6 or 7 years ago.

With regards to rentals in Buchman, it is still too early to say anything as the market for rentals generally picks up in the spring season. However, as usual, I suspect demand will be higher than supply for good quality homes that are available for long-term rent. I will of course write an update as and when there is relevant data.

As always, please feel free to email or call if you have any questions or comments or if you would like to see some properties on the market in Buchman.