Markets on hot real estate don’t stay hot forever. Home sale market in some area around the country has already slowed after being robust for several years. The unsold inventory index has been used to tell which way the market and home prices were moving. Reports on unsold inventory index show how many months it would take to sell the existing inventory of homes for sale at the current sales pace. Changes in the unsold inventory index are directly affiliated to changes in supply and demand. When the requirement for housing goes up, the rate at which homes sell pick up the pace and the existing inventory of homes for sale decreases.
January 29th, 2015 · No Comments
January 22nd, 2015 · No Comments
If you’re a real estate agent or broker in the US, then I guess you know what’s happening. 14 major cities has posted double-digit lows for single-family home values, according to Standard & Poor’s/Case-Shiller Home Price Indices. It’s going to get worse as the home-values have been down 12% since December and a prediction that it’ll go down to 10% by the end of the year.
The biggest culprit for this downturn: rampant speculation on property values during the past several years. “The areas that have seen a huge amount of speculation…are the ones that got nailed,” says Blitzer. “The farther up prices went the farther down they’ve come.”
Listed below is the five most hard hit cities:
- San Diego
January 15th, 2015 · No Comments
These days, real estate professionals have taken crash training and modules in real estate to better appreciate the procedures and to occupy a position in the growing real estate market segment. Despite the fact that there is an abrupt learning curve. A lot of real estate professionals who have joined the business in the past few years have experienced a losing-cycle in the market. There are policies that need to be understood and learned overnight though and the trick of the trade is to know and be fair to all sides especially if you are dealing with the sellers and buyers.
January 8th, 2015 · No Comments
There are those who think the end of the year is a good time to buy real estate. There really is no rule about this but if you are decided on purchasing a house or property before the end of the year, you may be in luck.
There are a few good reasons to do your house purchasing in December and these may spell for you a successful home sale. First off, there is less competition this time of the year. There are other considerations during Christmas and house buying is not one that comes up often. You would probably stand a chance of getting a wider selection at this time of they year. In line with this, you should also be able to get a better price on your house. Sellers or brokers may be more willing to negotiate to close that sale.
Whatever you decide, if buying a house now is a goal, December should be a good month to purchase.
January 1st, 2015 · No Comments
The landscaping has suffered from the drought–this was for houses in the Greensboro community. The question was to water or not to water? With the Triad and all of the Southeast facing its worst drought in a century, it’s a dilemma challenging a host of folks — home owners, home builders, homeowners associations and Realtors — who are caught between conservation and the need to keep homes and neighborhoods marketable.
Some residents thought it was easy to decide–whether to water the lawns or not. Greensboro is under mandatory water restrictions– residents should water using only a hose or hand-held container.
While it is easy for those in Grensbro, it is trickier for those in High Point. They are under voluntary restrictions. Those in Winston-Salem have no water restrictions. Even if residents can water as much as they like, they still ask themselves the question of whether they will water or not. Though this depends on who you ask.
December 25th, 2014 · No Comments
Credit and finance servicers and shareholders are developing a more methodological approach in conducting workouts. The manual and labor-intensive, hands-on techniques used at the moment upshot in a lot of redundant and outmoded foreclosures. It may be a time consuming foreclosure process that would permit for more workouts. Some states have ratified or are taking into consideration some measures that will extend the foreclosure process. The lending industry has also made valuable attempts to reorganize loan amendments and hold up the foreclosure development. Loan servicers set foreclosure measures and procedures in abeyance for 30 days to estimate and calculate the options.
December 18th, 2014 · No Comments
In the real estate business, integrity is the most important ingredient. It was reported that Steele, an American real estate broker is on fire. His license has just been suspended based on an emergency order by the state Department of Business Regulation. Pending further investigation into a complaint the agency received for which Steele was the sales agent. One of them is a failed condo deal where a $31,250 check bounced to the prospective buyer for the returned deposit. The account on which the check was drawn had insufficient funds at the time. This was confirmed by the bank documents submitted to the regulator. There are also alleged complaint that Steele “misrepresented” on several issues such as the number of days the condo had been on the market; the available parking spaces, monthly condo fees and whether the condo association’s members included a restaurant.
December 11th, 2014 · No Comments
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The second most common myth in real estate investment is: you must start with small deals, big investments are very risky. Generally, mortgages on smaller properties are usually secured through the the buyer’s own earning capacity and personal wealth. On the other hand, a bigger investment loan, is protected by the value of the property itself – more like the property itself is being used as a collateral to the loan. Now, that means lesser risk to you. The value of your rental property like your house for example will increase through the years, depending on the kind of neighborhood you bought into. You can increase the value of your property a bit, like when you do some renovations, but the increase will not be that much. So it pays to buy into the right if not ideal neighborhood. However, on rental properties such as apartments, the increase in its value will depend on how much income it actually generates.
December 4th, 2014 · No Comments
The hotel or inn you choose to stay at during your vacation largely determines how well the trip will turn out. The moment you step into the doors of your vacation “home” you want to be greeted with a welcoming and relaxing atmosphere because it will set the tone for the rest of your stay there. And if it’s a superb atmosphere you are looking for, there’s nothing that can compare with the charm that historical buildings can give.
If you travel around the United States, you will find lots of old homes and buildings that have been converted to inns. These inns are scattered around the country and sometimes crop up in the most unlikely places, such as The Colonnade Inn in Sea Isle City, New Jersey. The inn is a Victorian style building dating back to the 1880s and that was fully restored in 2004.
The sad thing about many historical buildings turned hotel though is that, unlike the Colonnade Inn, time and effort to restore them to their previous state still has not been taken. Whether it be due to lack of funds, or the lack of vision of their owners, the point is that you won’t be feeling like you’re soaking in some history when you stay there, but rather feel like you’re staying in an old rundown hotel. So if you do choose to stay in a historical building the next time you take a trip, make sure you check the real state of the place before making any reservations.
November 26th, 2014 · No Comments
As we reported multiple times a few days ago, the US real estate market is down but not yet out. However, some companies see this event as an opportunity to do good things. For instance, the Los Angeles real estate firm, CB Richard Ellis just closed a $2.1 billion investment fund. The money will be used to buy properties nationwide.
Through this fund, the firm will be buying both properties that are only in need of minor repairs and those that need more improvements. The latter will fund real estate development.
CB Richard Ellis Investors is an independently operated affiliate of Los Angeles-based CB Richard Ellis Group Inc., the world’s largest real estate brokerage.