Property Advisor Bradley Edwards Plays ‘Good Shepherd’ To Foreign Investors

By Sven Pomykalo and
Ugo Eriobuna

Bradley Edwards & Associates Ltd. is a real estate advisory firm based in Budapest, assisting and advising both private and professional investors making overseas real estate investments in Hungary. Their services include: property sales, property mortgages, property furnishing, property management, and property rental.

Robert Beck is the managing partner of the company. While Beck is a veteran of listing and selling property in the area for the past three years, his company is not a member of the Multiple Listing Service in Hungary, nor does he hold any position in Hungary either as a member or a trustee on any Real Estate boards in Hungary. He does however have over 2.000 apartments to sell and 500 to rent. Among all the agents selling properties in Budapest, his firm ranks 15th in terms of properties sold.

“The rental market is very strong in Budapest,” said Beck. “But in order to succeed in Real Estate business it takes basically luck, consistency, quality service, and also, good clients.”

In Property Sales, the firm offers a wide selection of properties available in the prime districts of Budapest for both commercial and residential real estate investments.

In regard to Property Mortgages, Bradley Edwards claims that mortgages for individuals in Hungary are as readily available as in Western Europe, subject to the usual status requirements. They add, however that it can be very time consuming and difficult for a foreign citizen to apply for a mortgage due to geographical distance and communication difficulties. By working in conjunction with several Hungarian banks, Bradley Edwards offers to assist its clients in finding the most convenient financing option; they submit the mortgage and loan documents and handle all communication with the bank.

Property Furnishing is an additional service offered by Bradley Edwards. According to their website, they supply contemporary furnishings of the quality and standard necessary for rented accommodation, providing individual items and flexible packages ensuring our solutions are within the client’s budget. Their aim, the site continues, is to provide a complete property furnishing service - right down to that last teaspoon. Their service includes budgeting, purchasing, delivery, assembly, installation and cleaning.

When it comes to Property Management, the firm provides the following: advertising the availability "for rent" or "for lease" of the premises when vacant; performing viewings to perspective tenants; executing leases and rental agreements on behalf of the property’s owner; collecting rents, security deposits, and all other receipts on behalf of the owner; providing all services necessary for the proper management of the property including periodic inspections, dealing with tenants, supervision of maintenance and arranging for repairs; paying from gross receipts all operating expenses which may be due by the Owner; maintaining accurate records of all money received and disbursed in connection with the management of the property.

Most of Bradley Edwards’ clients purchase their Hungarian property for mainly investment purposes, which the firm manages on their behalf. The firm currently manages a continuously expanding portfolio of upscale, newly built properties located throughout prime districts of Budapest at what they refer to as competitive prices. They claim the expertise of a professional staff with a high standard of ethics and a track record of sound decision-making and several years of experience and abundant resources.

Since entering Real Estate, Beck says, his life has changed for the better. He has today more Spanish clients, with less English and still fewer Irish clients. His reason for choosing Real Estate business is, he said, that it’s a very quick way to make money, and earn a better living. For now, he added, he is also happy with his company’s performance.

"White Man's Burden" - a film review by Ugo Eriobuna

Ugo Eriobuna
Review Of White Man’s Burden
1995 Release.



What would happen if race roles in America were reversed? What if blacks had all the power and whites had to fight prejudice and racism at every turn? Such is the setting of writer/director Desmond Nakano's brilliant film, White Man's Burden. The movie is a tightly constructed drama about Louis Pinnock (John Travolta), a reliable blue collar man who works in a factory owned by high-society business man Thaddeus Thomas (Harry Belafonte.) At home, Louis had to deal with a rough neighborhood, gang violence, and trying to provide for his wife (Kelly Lynch) and two kids.

The opening scenes of “White Man’s Burden” are very interesting, as it turns the tables on the color-coding in America society. It simply reverses the stereotypical roles of blacks and whites: the black characters are the wealthy, powerful establishment types living in big mansion in the suburbs, and the whites are a poor, disadvantaged minority group.

The greatest shortcoming of this quality film is its oversimplification of racial issues. It does however succeed by exposing a lot of our assumptions and prejudices. When John Travolta, as a factory worker uneasily approaches the mansion of Harry Belafonte, the millionaire factory owner, we’re forced to recognize that if the worker were black and the rich man were white, the scene would seem stable. Because it isn’t – because privilege is turned upside down in the world of this film – we’re forced to re-evaluate every conversation and difference in the film.
Travolta plays Louis Pinnock, a man who has been sent to his boss’ home to deliver a package. Belafonte is the factory owner, Thaddeus Thomas. Louis is hard-working, has a good record at the factory, and is happy to do this extra work on a voluntary basis in order to score points with his superiors. He was told by the housekeeper to go around the rear door of the mansion; he pauses uncertainly on the lawn and happens to see the rich man’s wife, dressed only in a towel.

Thaddeus sees Louis on the lawn, and jumps into conclusion that he is a ‘peeping tom.’ But he doesn’t make any accusations. He simply suggests, at a social function, that the factory should choose another man the next time they send somebody over to deliver a package. It is a well-known function of organizations that orders from the top get amplified on the way down to the bottom, so that a wish becomes an edict. Louis is then fired for this act.

This is not good. He has a family to feed. His wife (Kelly Lynch) fears they’ll be evicted from their home. In desperation Louis goes to Thaddeus’ home to plead his innocence, but he was turned down completely. And so, in desperation, he kidnaps the rich man - looking not for ransom but for justice.

It’s at this point that I thought the movie goes off the rails. It turns into a routine kidnapping thriller, complete with an extended chase scene, violence and some kind of confrontations with the police saying “he fits the description.”

Inevitably, Thaddeus and Louis develop respect for one another, and the millionaire learnt his lesson. But that’s not enough of a payoff for this movie because it’s obvious, it’s easy, and it comes too late, after action scenes derived from a thousand other movies.

What I wish to see in this movie is that the entire film had devoted itself to the examination of its challenging idea. The early scenes are clever and effective at using the reversal gimmick to point out the countless ways that skin color affects behavior, attitudes and expectations. Consider for example the way the white character deals at various points in the movie with black cops. Consider the cops’ assumptions. Savor the dialogs at the dinner party in the film, where the black millionaire entertains his guests with confused racist generalizations. Watch the way the millionaire’s wife reacted when her son came home with (gasp) a white girl. I only wished the film would have been pushed further on this direction – dealing with the social situations in the same way and not switching lanes in the middle of the film.

Foreign Demand For Real Estate Falls In Hungary

By Boma Oduma






With unrealistic expectations for the performance of the residential real estate market in Hungary leading up to the nation’s EU accession in May, 2004, demand for Hungarian real estate by foreigners has taken a downward turn. Before accession, anticipation for increased foreign interest was very high in Hungary. The expectation drove developers to start new projects with some of them successfully developed in less than a year. An example of this tremendous success is the Duna-pest residences in Budapest’s district IX, which managed to complete 90% of its apartments in less than a year.

Although the residential market enjoyed the enormous benefit between 1997 and 2004 of catapulted real estate prices thanks in large part to foreign investment – most notably by the Irish – by the end of 2004 the market as a whole began to encounter less interest from foreigner investors.

“The increase did not reflect local investment,” said Andor Szel of Central Home, a leading Budapest realtor that specializes in selling downtown flats to foreign investors, “and, likewise, the downturn does not really reflect the Hungarian economy either, which is in fact growing.”

The 1990’s saw a great influx of German, Italian, and Israeli investors coming into Hungary as the market first opened to foreign buyers, according to the Central Home website. Rental income reached levels around 12%. With these days past and gone, however, foreign investors are turning away from Hungary, pitching their tents and their presence in Dubai, among other places, which appear to be more favourable at the moment. Dubai’s real estate popularity with foreign investors stems in part from coverage in British media: an exposure sorely missed by Budapest, even by the media of its most recent investors - the Scandinavians, the Spanish, and the Brits – whose general public lack the awareness of Budapest as a possible place of investment.

A vital issue for choosing a country of investment is access to local mortgages. Unfortunately, Hungarian mortgages are not easily accessible: with high interest rates, it is quite difficult for investors to purchase real estate and to invest in Hungary.

“Mortgage facilities in Hungary are not functioning well,” said Szel. “Due to economic pressures, it is very difficult to obtain mortgages from local banks. And those that are available come with very high interest rates, thereby discouraging locals from buying.”

The loan ratio is also relatively low in Hungary when compared to other western European countries, which likewise keeps down the relative prices of Hungarian real estate. Citizens as well as foreigners are affected by this fact, which holds back private investment. In Britain, there is an open possibility to take a British mortgage for a foreign investment, which gives British investors a comparative advantage so long as interest rates in Hungary stay high.

All hopes are not completely lost, as there are high expectations for 2007 regarding the reduction of interest rates for Hungarian mortgages. This promises to enhance the allure of the real estate market, churning forth a new wave of investors in Hungary since other market factors are indeed quite favourable. These include a fully-implemented computerized real estate register - unlike other countries in the region where printed documents are required as valid proof of ownership - as well as an availability of potential investments that outstrips more saturated markets in Western Europe.

Counterterrorism In Budapest

By Philipp Sigrist

“International terrorism is a growing problem in our world today. We need to learn how to fight it”- this was the slogan at the first conference of the International Anti Terrorism Association (I.A.A) that was held in the Art Palace of Budapest on the third of March 2006. Eight experts in the field held the six hours conference for the stated purpose of discussing terrorism and its various side effects.

International terrorism has become a growing concern in today’s world. It has attracted the attention of many different organizations and prompted the creation of many others, including the International Antiterrorist Association (I.A.A), which was formed in Hungary in June of 2006, which recently hosted a six-hour conference in Budapest. The eight speakers – which included a Hungarian army general and an Police expert on explosives - provided insights on the issues surrounding and giving birth to terrorism, and on the sophistication and reach achieved by today’s terrorists.

General Szabo was the first speaker to the podium. His speech concerned largely international security and its challenges. He pointed out various threats and how they can be solved.

First, he said, the dangers today are more complicated than before, specifying that in today’s world of globalization previous dangers are even more dangerous because of technological development. Local, National, and International problems, he said, are all connected with each other, and an increasing gap between rich and poor countries raises the danger of organized crime and terrorism in developing countries.

“International terrorism is so powerful,” said the general, “that it influences relations between nations. The sobering disadvantage of globalization is that it is easily abused, especially economically. After the fall of communism, criminal organizations grew rapidly throughout the eastern block. This resulted in Hungary becoming a drug transit country. Corruption often occurs in changing political systems. Populations grow older and pensions come under threat. Flooding and other natural catastrophes compound these difficulties. How can these problems be solved? First of all more information is needed. Organizations must function more efficiently and international problems will find international solutions. But most importantly we have to understand the way terrorists think, get to know their philosophies, structures, financial assets, as well as their goals. To understand the way they endanger can be treated like a science.”

The general concluded by saying that any kind of problem can be easily challenged if it is tackled as early as possible. To this end, he advocated avoidance rather than confrontation, assuring his audience that the necessary counterterrorism organizations will be formed in the near future.

The second speaker emphasized attacks conducted with explosives. Unlike the general, he took the view that terrorism is an ongoing war, rather than a problem to be addressed and prevented.

The number of suicide bombers, he said, has grown dramatically in recent years. He specifically stated several places where attacks had been carried out and described the results of these attacks. One example he gave was a bomb attack in Tunisia specifically aimed at tourists in order to destabilize the country. Interestingly, attackers often manage to penetrate high security zones such as in Saudi-Arabia, Iraq and Israel, he said, adding that whatever security protection there is, attackers often manage to break through checkpoints and other barriers.

“The Madrid bombing showed that attacks have become very well organized,” he said, “The bombings did not only become more sophisticated but also more ruthless. During the Bezlan siege for example, terrorists did not stop from killing children. Terrorism is constantly evolving technologically, monetarily as well as in popularity. It began with simple bombs, but today terrorists can be in possession of dirty bombs such as chlorine or even nuclear waste bombs. But the biggest fear is that one day that terrorists might have access to a working nuclear bomb.”

A speaker from the police raised issues relating to crisis management in the case of an emergency. He used a recent local event as example, the October 6 riots in Budapest.

“Theoretically it seemed perfectly manageable and controllable,” he said “but in practice everything turned out to be completely different.”

Since the police did not have much experience with riot control, it had to learned through trail and error. An attack on Hungary can result in similar failures, he added, since police forces are not experienced enough for such tasks, as they have never happened before.

The final speaker, the head of the I.A.A Tamas Lax ended the conference by summing up the various speeches and made one final conclusive statement. “The international community can fight terrorism if the necessary institutions and agencies efficiently work together with their governments, but the responsibility also lies within each individual”.

Eyes Open To Windows Vista

By
Ugo Eriobuna
and
David Valker




Microsoft has long promoted itself as being about helping individuals and communities around the globe with the mission of enabling new avenues of social and economic opportunity extending particularly to the estimated 5 billion people that have yet to realize the benefits of technological advance. The multinational company’s tools to achieve this are transforming education, fostering local innovation, and enabling jobs and opportunities to create a continuous cycle of sustained social economic growth for everyone. While achieving these goals currently remains a distant prospect, thirty years ago the dream of a PC in every middle-income home seemed likewise impossible. Today, with Microsoft having reached more than one billion users, life has changed profoundly: information is more readily available, connections are more easily made and commerce is more quickly undertaken. Bill Gates - along with his company – has indeed moved closer to his goals.

The latest move is called Windows Vista. Naturally, it contains a dazzling array of new features; some of the most significant include an updated graphical user interface and visual style called Windows Aero. Aero uses graphics hardware to add translucent boarders to your windows. Windows Aero builds on the basic Windows Vista user experience and offers Microsoft’s best-designed, highest-performing desktop experience. Using Aero requires a PC with a compatible graphics adaptor and running a Premium or Business edition of Vista. László Vajgel, working for Fourcut, an editing studio, when asked his views on Vista he said:

“There have been a lot of changes in the new software,” said László Vajgel, of Fourcut, an editing studio in Budapest, Hungary. “The buttons and functions I got used to in XP are not quite the same in Vista.”

Vajgel also expressed doubts about the number of people actually making the switch to the new software in his home market of Hungary.

“Most people here use, well - what is a nice way to say - ‘unlicensed products.,’” he said. “This cuts off the biggest share of buyers. Also, people don’t think that the product is that good at first.”

Steven J. Vaughan-Nichols, editor of the US-based Ziff Davis’ Internet Linux & Open Source expressed his own views.

“Vista will be better than XP, which has easily been Microsoft's best desktop operating system to date,” Vaughan-Nichols said. “However, Vista also requires far more hardware oomph than previous Windows systems. I'd say Intel's recommendations are pretty much a minimum for Vista. I would only add that if you expect to see the fancy desktop, you need to invest.”

On the other hand, companies, institutions, and business organizations can afford to use this new software at the moment in Hungary. Most individual users living in Budapest think it is too costly and prefer to wait till the price value comes down. Moreover, as could be seen from the release of previous Microsoft operating systems, they always need some adjustments. In addition, the product is only useable after a few months of real testing by users.

The testing process by real users won’t make Microsoft weaker, as people opposing “going global” hope. Vista continues the path, started in 1975, in which the computer transformed from an awkward, unfriendly machine to our everyday instrument and “friend”.

Delayed Metro Construction Hampers Budapest Traffic

By David Valker

With winter over, the annual season of Budapest road and transit construction is set to begin, to the chagrin of local motorists. As the building of the metroline 4 continues, several important junctions will be closed, adding to those still closed by delays in earlier construction.

Work on expanding the existing Kálvin square metro station began on February 26, but only the sidewalks were unfolded as the change of sewer lines were started. On the 5th of April, due to the rebuilding of the sewer system, the square will be closed to traffic, including trams, with only the tram-exchange buses allowed to enter. The scheduled date to give the square back to the public is the end of 2008.

Another major project is the building of a metro station at Fővám square, next to Szabadság-bridge, and Corvinus university. Initial work began on the 5th of March, and as the building of the frame starts in the middle of March, the Pest-side lower wharf will be closed to traffic. Because tram line 2 goes through this area, it is still a question how traffic will be re-routed. Construction will take approximately 6 months, authorities say. As subway lines are the indispensable veins of a city, the balk, residents must cope with the necessary negative side effects.

Unfortunately, there are more negative side effects than needed, thanks to poor planning and execution . The one possible detour to the Pest-side wharfs is the Buda-side upper wharf, which has been closed since May 15, 2006, due to the building of the Gellért square metro station. It was planned to give part of the roadway back to the public in November, 2006, but thanks to unexpected technical difficulties – such as a gas-pipe that turned up during construction, despite its absence on blueprints - the whole project is delayed. The originally scheduled end to the work was 2009 October, but as yet it is still unknown when the project company BAMCO will actually draw to a close.

The Downtown and Suburbs Traffic Association (VEKE) has claimed that DBR, the company manageing the metro station construction, should examine the links on its own website wherein foreign metro builders explain how their plans avoid difficulties for surface traffic. To which Gulyás László, leader of DBR responded: "The metro here could not be built that way. If we would start to make temporary rails for trams, that would delay the construction even more."

Péter Gábor, a traffic-expert added, "BKV should rethink the order of projects. If they close two major routes next to each other in the city, the consequences can be unpredictable. Especially if you take into account, that the Szabadság-bridge will be closed due to renovation in August."

With luck, the juice will be worth the squeeze, and Budapest’s traffic problems will be over by 2010.

Sources: http://www.metro4.hu/index.php?lang_id=en&menu=1

Has Four Years of War Left The US Army Broken?

By Herman Lugaro

The twentieth of March, 2007, marked the fourth anniversary of the war in Iraq, a war with no certain end in sight. Each passing year, moreover, has seen an increase in the ongoing toll felt by the US Army. With constant rotation of tours, low recruitment numbers, and the growing reliance on the National Guard and reserves, a sobering question is being raised: is the Army broken?

General Colin Powell seems to think so. The former secretary of state and chairman of the Joint Chiefs of Staff, said in an interview on CBS’s Face the Nation, that he views the Army as indeed nearly broken. He explained that the current active Army and Marine Corps are not large enough for the kinds of missions they are asked to perform. He added that another problem is that soldiers - mainly experienced Officers NCOs - are being sent on repeat tours in Iraq and Afghanistan thereby causing further strain.

In December 2006, Army Chief of Staff General Peter Schoomaker told the Commission on National Guard and Reserves that the Army would have to tap into National Guard and reserves more heavily in the short term to keep up with any increased demand for troops in Iraq or other operations abroad. In the long term, the general said, the Army would have to grow. This implies that the active Army is worn thin by constant deployments, and now has to rely on the reserves and National Guard to maintain such grueling demands.

In the wake of these burdening issues comes the now infamous “troop surge”. A “surge” is executed by extending the tour of the troops already in the country, and accelerating the arrival of incoming soldiers. The last “surge” was conducted from June to the end of 2006 called Operation Forward Together, which in the long run did not help make Baghdad safer, despite its aim to do so. The Bush administration has faith that the current “surge” called New Way Forward will be successful in securing the city of Baghdad against the insurgency. The true test will come once the extra soldiers leave Baghdad, with success to be marked by a sustained decrease in attacks on Coalition forces.

According to Josh White and Ann Scott Tyson of the Washington Post, there’s an underscoring stress facing the armed services, as illustrated by a report from the Army that it missed its recruiting goals by 16 percent in 2006, part of a serious downward trend.

To offset its recruiting woes, the Army has increased enlistment bonuses and waivers. These include cash bonuses of up to $40,000 for enlistments of three or more years, and the Army College Fund, which provides up to $71,424 for college. Also, the number of waivers has steadily increased since 2003 allowing some applicants to be accepted who otherwise would have been rejected in past years.

“The data is crystal clear,” said Representative Martin T. Meehan, Democrat of Massachusetts and chairman of the House Armed Services Subcommittee of Investigations and Oversight. “Our armed forces are under incredible strain, and the only way that they can fill their recruiting quotas is by lowering their standards.

Amidst these questions about the overall strength of the Army, there are at least some who take a different view. In response to the question, “is the Army broken?”, an active duty soldier - who asked to remain anonymous – had this to say:

“I do not agree with that statement, I believe that the Army is far from broken. The people who say that are not serving in the Army and what they are saying is wrong.”

When asked what he thought of serving repeat tours, the soldier said: “ Don’t get me wrong, I don’t like going back to Iraq, however that doesn’t matter, because I joined the Army on my own free will, and I have a job to do.”

Four years of war in Iraq is the main reason for the worry over the readiness and overall strength of the Army. There is a definite strain put on armed service personnel both professionally and personally when trying to complete the strenuous tasks given to them. Yet even with all of the problems facing the Army, there is still hope for a positive outcome, thanks to an Army made up of extraordinary people who volunteer to risk their lives, and others who pay the ultimate price honoring their commitment to the Army and their country.