Thinking to Buy Property In Israel?


IMG_4013-700x525From a distance, it may look as if things are a bit troubling over here. But, in fact the opposite is the case. A new coalition government, daily explosion of medical and scientific discoveries, new communities taking shape, thousands of olim returning, expanding energy supplies and a happy, healthy population makes Israel the best country in the world with a strong future until the end of time.

This would be a good time to buy your property in Israel. If you are not organized yet to come and live, stake your claim and buy your home in Israel now, rent it out until you are here, and earn some good income from it.

Dreaming of building your own home in Israel? An exciting project is taking shape in the Holy City of Tveria…more about this later.

Take a look at what the experts are saying, don’t just take it from me.


Buy Property in Israel, not in America!

A recent report published by CBRE shows that the Israeli dream of making it big in the US real estate market is not being realized. In fact, a little more than 50% of investors are losing money. Here is a link to the Arutz7 news article.

In Israel, the real estate market is booming, and continues to improve every day. Areas outside of the center, in the north and in the south, are seeing significant gains in real estate prices and property values. It is the very best time to invest your dollars here at home. Property management companies charge very reasonable fees and will take good care of your property plus maximize your investment return. Everything you need for long-term savings and investment growth is here in Eretz Israel.


Bank of Israel proposes changes to mortgage lending

From Yeshiva World

The Bank of Israel on Wednesday, 15 Elul 5773 announced new mortgage regulations, which will go into effect on September 1, 2013. The large number of new mortgages is given as the reason for the bank’s move. In the 12 months through July, more than 56 billion NIS in new mortgages were taken.

00The announcement of the draft regulations contained the highlights, which will set new regulations into place. This includes a mortgage ceiling for a couple that does not permit monthly payments exceeding 50% of the couple’s net earnings. The experts explain this will hit the young couples buying small and modest apartments up to the 1.8 million NIS range hardest. “Housing loans in which the monthly payment is 40-50% of income will be weighted at 100% for the purpose of calculating the capital adequacy ratio,” states the Bank of Israel.

A mortgage may not exceed 30 years, and the variable interest portion of a loan may not exceed 66.7%, that is to say a third of a mortgage must have a fixed interest rate.

Clearly the bank of Israel is trying to avoid a mortgage crisis similar to the one that hit the USA.

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Buy this stunning property in Migdal, Israel, near the Sea of Galilee

Living facing south (1)A short ten minutes from the bustling Holy city of Tveria, on the way to the Holy City of Tzfat, you will find the beautiful, peaceful, quiet, inspiring community of Migdal. Long a favorite of Israelis from the center, Migdal is fast becoming the community of choice for those looking for the best in northern Israel living. The recent opening of a new shopping center, complete with a supermarket, cafes and restaurants, and specialty shops, makes Migdal even more attractive. Residents no longer need to commute to Tveria for their shopping needs.

Entrance to the appartmentTucked into the rolling hills of Migdal is a unique residential complex consisting of a group of eight, two story town homes, with a shared community swimming pool and gardens. The building is constructed of wood and Jerusalem stone. Each unit has two balconies, garden at the entrance, space for storage, and private parking.

This unit, priced at only 850,000 nis, is being sold fully furnished, with all the furniture, appliances, furnishings, linens, pots/pans, silverware… COMPLETE! All you need to do is buy, pick up the keys and move in! The apartment has many upscale upgrades throughout, including gorgeous tiled floors, modern and sophisticated cabinets and drawers in the gourmet  kitchen, luxury bathrooms, and more.Kitchen fully accuipped (1)

This is an outstanding home for your new life in northern Israel. Also makes an outstanding investment property. Priced to sell– 850,000 nis.

Why you need a good translator before you sign any contracts



If you purchase or rent an apartment in Israel, it is almost certain that the contract or lease will be in Hebrew. Running it through google translate, or relying upon the agent to translate the document for you is not a good idea. As the article below discusses, the nuances of the language may escape a translator who is not well versed in the legal jargon utilized in the lease or contract. Thank you very much Brocha Speyer for sharing this with us.

Navigating the Labyrinth of Hebrew Contracts

Or: the Role of the Legal Translation Specialist

Way back in 2009, while waiting for a ride to WritePoint’s bi-weekly translation course – armed with an impressive-looking yellow folder bulging with course material – I bumped into a well-meaning neighbor, who wanted to know what it was that I was studying. When I replied that I was attending a translation course, she heartily chuckled, “You mean, today they have to teach even that?”

To this day I continue to wonder how that good-old-neighbor would fare if she were thrust into the sea of translation and left to fend for herself. I like to think that she would manage to keep herself afloat…but it’s hard to imagine that she wouldn’t reconsider the value of translation instruction.

Contrary to popular belief, speaking two languages is not synonymous with inborn translation prowess. Translation of any sort is a complex task, and legal translation presents its own unique set of challenges.

For starters, what do you do when faced with a word that could mean ten different things (poly-semantic phrases) –especially where several of the definitions differ from each other only subtly? If fate deemed you a muggle, devoid of any mind-reading abilities, how are you realistically expected to guess what the author had in mind?

Take the Hebrew word ishur for example. It is an integral component of any legal document and could mean anything from confirmation, endorsement, approval, okay, sanction, verification, and imprimatur, to acknowledgment, averment, certificate, certification or authorization. So… is the contract’s Party A expected to obtain acknowledgement, approval or confirmation? The list of possible translations does share a common thread – yes, but I do not recommend using the word “sanction” where it should be “certificate.” Translators had better have a thorough understanding of the subject matter at hand if they are to consistently opt for the right word at the right time.

Now think of the Hebrew word lezakot. The dictionary offers a nice list of possible translations – to acquit, to grant (right, privilege, favor etc.), to credit, and to provide. So when a legal translator is confronted with the unfamiliar term “dira mezaka” – what sort of apartment should come to mind? An apartment that sits in judgment and rules clemently, perhaps? One that grants favors to anyone fortunate enough to cross its threshold? Or maybe it’s an apartment that sells you things on credit. How is the innocent translator to guess that it is not a bewitched dwelling the contract is referring to, but merely a tax-exempt one?  You’ve gotta know the lingo.

Of course, there are always going to be those faux amis (deceptive cognates) that will go to any length to throw you off track. When the unsuspecting translator heaves that well-earned sigh of relief – finally, a non-brainer, same in both languages – his translation is actually in a state of unprecedented danger.  Heaven forbid to render the Hebrew word director as director! You can be sure that the company’s director will not appreciate your confusing him with a mere board member, thank you very much.

And those old spelling woes will come back to plague us here as well. C’mon, breathe easy, you say. If we can’t trust Microsoft for its good old spell-check then whatever can we trust it for? But in the legal translation industry, confusing borne with born, or insure with ensure, for that matter, simply will  not do.

Then there’s the grammar. Did you ever think you would be revisiting Miss Green’s  tenth grade English class twenty years down the line? I assure you: when you tackle that first Hebrew contract you’ll be longing for the day that she conquers the world and forces her outdated laws upon all of its inhabitants. I mean, even that dreary prospect beats spending your days trying to identify the main verb of a sentence that runs on for five pages straight…and why is it that texts sent in for translation always seem to have been written by the most non-linguistically-inclined people on the planet? Not to mention the fact that in Hebrew, it is actually legal to structure a conditional sentence as though it were a past statement…

One last point for now: A Hebrew-English legal translator cannot get by merely with legal proficiency and linguistic know-how. Since Hebrew legal documents are generously interspersed with Talmudic phrases, legal translators without Talmudic background will have to to either take a crash course in ancient Aramaic or else make sure they’re on close terms with their local rabbis. And don’t forget the local Latin professor either – did you ever notice the percentage of pompous Latin phrases traditionally comprising English legal documents? Omnia dicta fortiora si dicta Latina, after all.

So basically, in sum, legal translation is serious business. You are finally realizing your dream and purchasing that property in Israel – do yourself the favor of doing it right!

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Buy Your New Home in Israel – still strong after 65 Years

IMG_0214Many times when speaking with prospective olim or real estate investors, I am asked… but is the Israel economy okay? Isn’t the real estate market about to crash? Is now really the best time to buy?

The economy is Great! The real estate market is strong! Now is the best time to buy, Today, NOW!

And, northern Israel is one of the best areas in the country for finding affordable homes and real estate investments with a strong return. Check out our Hot Properties pages, and be in touch soon.

Read on….

At 65 Israel Defies Global Economic Meltdown 
Ambassador (ret.) Yoram Ettinger, “Second Thought: US-Israel Initiative”
“Israel Hayom”, April 19, 2013

While most of the world is afflicted by an economic meltdown, Israel demonstrates fiscal responsibility, sustained economic growth with no stimulus package and a conservative, well-regulated banking system with no banking or real estate bubble.
At 65, Israel’s credit rating is sustained by the three leading global credit rating companies:Standard and Poor’s (S&P), Moody’s and Fitch Ratings .  Moreover, the International Monetary Fund (IMF) commends Israel’s economic performance and expressed confidence in its long-term viability.
Kasper Villiger, Chairman of the United Bank of Switzerland (UBS) indicated that China, Hong Kong, Brazil, Russia and Israel are the future growth engines for UBS.  Deloitte Touche, one of the top four global CPA firms opined that Israel is the fourth most attractive site for overseas investors. The Swiss-based Institute for Management Development (IMD) ranks the Bank of Israel (Israel’s “Federal Reserve”) among the top five central banks in its 2012 World Competitiveness Yearbook for the third year in a row.
At 65, Israel’s economic indicators are among the world’s best.  For example, during the 2009-2012 global economic crisis Israel experienced a 14.7% growth of gross domestic product (GDP), the highest among OECD countries.  Israel’s 2012 GDP growth (3.3%) led the OECD which averaged 1.4%.  Israel’s 2012 GDP of $250BN catapulted120 times since 1948.  A $1,132 GDP per capita in 1962 surged to $32,000 in 2012Israel managed to reduce its debt/GDP ratio from 100% in 2002 to 74% in 2012, while most of the world experiences a soaring ratio. A 450% galloping inflation in 1984 has been held in check in recent years – 1.6% in 2012.  Israel’s 2012 budget deficit andunemployment were 4.2% and 6.9% respectively, much lower than the OECD average of 7% and 8%.  Foreign exchange reserves – which are critical to sustain global confidence in Israel’s economy and Israel’s capabilities during emergencies – expanded from $25BN in 2004 to $75BN in 2012, 26th in the world and one of the top per capita countries.
At 65, Israel’s robust demography – which leads the Free World with three births per Jewish woman – provides a tailwind for Israel’s economy.
At 65, Israel attracts the elite of global high-tech due to its competitive edge. For instance, the prestigious Shanghai Jiaotong University’s Academic Ranking of World Universities includes four Israeli universities among the top thirty computer science universities in the world.  Twenty universities are from the US, four from Israel, two each from Canada and the UK and one each from Switzerland and Hong Kong.
At 65, Israel leads the world in its research and development manpower per capita: 140 Israelis (per 10,000) and 85 Americans (per 10,000) are ahead of the rest of the world.  Israel’s qualitative workforce benefits from the annual Aliya (immigration of Jews) of skilled persons from the former USSR, Europe, the USA, Latin America and Australia, who join graduates from Israeli institutions of higher learning.  In addition, Israel’s high-tech absorbs veterans of the elite high-tech units of Israel Defense Forces. Israel dedicates 4.5% of its GDP to research and development, the highest proportion in the world.
Israel’s defiance of unique security and economic challenges has produced unique, innovative and cutting edge solutions, technologies and production lines, which have attracted global giants.  For example, Eric SchmidtGoogle‘s Executive Chairman, considers Israel “the most important high-tech center in the world after the US.”  He has invested in Israel’s high-tech via his own private venture capital fund, Innovation Endeavors.
According to world renowned investor, Warren Buffet, “If you’re looking for brains, [Israel] has a disproportionate amount of brains and energy.”  In 2006, Berkshire Hathaway, Buffett’s investment company, made its first ever acquisition outside the US, in Israel, acquiring 80% of Israel’s Iscar for $4 billion.
Intel operates four research and development centers and two manufacturing plants in Israel, and invested in 64 Israeli start ups. Microsoft’s CEO, Steve Ballmer calls Microsoft as much an Israeli company as an American company, because of the importance of its Israeli technologies. Some 300 US high tech giants have research and development presence in Israel. Many, among them, invest in – and acquire – Israeli high tech companies.

George Gilderthe author of The Israel Test and a high-tech guru, stated: “[Israel] is the global master of microchip design, network algorithms and medical instruments…water recycling and desalinization…missile defense, robotic warfare, and UAVs.… We need Israel as much as it needs us.”
At 65, Israel has become an offshore natural gas producer, which has enhanced its economic viability, reducing its dependency on imported energy, and rendering it a net natural gas exporter by 2017.
At 65, the ongoing wars, terrorism and global pressure are realistically assessed as bumps on the road to unprecedented economic and technological growth