Mild Development Spending Rises

Written on 15 October 2014 by

devspendMild improvements in development spending has been noted in the US which may signal a slight improvement in the overall commercial real estate business. Many development projects have been put on hold as the economy slid into recession with millions losing their jobs in the construction industry. The effects of the economy has reached far beyond the borders of the US with the world slipping into recession as the markets tumbled affecting most global industries. Continue »


Tips in Buying Foreclosed Properties

Written on 8 October 2014 by

Many buyers are becoming aware of the fact that government seized properties cost so much less than any other houses for sale. But before buying one we need to be aware of some few things .

You must do background research on the property. The best way to do this is to browse online, for helpful sites to assist you.
A little know how in auction means a lot.
If you get the time, you might want to go for an ocular inspection of the property.
Be sure that you know the real value of the house you’re buying. You may ask an appraiser ot help you out.
Plan your finances well and make sure you have money to pay for the monthly amortization.
Be inquisitive. If you feel like something was not answered, speak up. Speak up now while you’re still evaluating the prospective property.

Its true, buying a property is often easier said than done. But knowing a few tricks like these can save you a lot of money and trouble.


40 Year Mortgage – The New Option For The New Era

Written on 1 October 2014 by

The 40 year mortgage makes monthly home payments more affordable, especially in areas where the real estate prices have skyrocketed. It is an attractive tool for homeowners who might otherwise be priced out of the housing market entirely. This article will help you understand the 40 year mortgage plans.

A 40 year mortgage may offer you a lower monthly payment. You may also be able to obtain a secure, fixed rate. But these mortgages typically have a balloon payment at the end of thirty years. AT that time, you have to refinance the loan or pay off the remaining balance. A 40 year mortgage has lower payments than the 30 year fixed mortgage because it stretches out the amortization schedule over a longer period. The loan is actually only for 30 years, but is amortized over 40 years, thus the balloon payment. An alternative to the 40 year mortgage is the interest only loan as it offers a similar low payment schedule. In some ways, the 40 year mortgage is more attractive though, because it allows you to build at least some equity in the home. Both the 40 year loan and the interest only loan allow you to purchase a more expensive home than you can afford with the same amount of cash. A $200,000 home would be $100 per month cheaper with a 40 year mortgage than it would be with a 30 year fixed rate mortgage.

The people who will benefit most from 40 year mortgage plans are those who are sure that they will be in the home for a long time before you take out a 40 year mortgage.


Martha’s Vineyard Remake

Written on 24 September 2014 by

martha.jpgIn hopes of staving off the housing crisis’s effects on the exclusive resort town, property owners have resorted to converting luxury hotels into luxury condominiums instead. The lower premiums and costs associated with the move is lower than what would be expected of luxury homes and is expected to take them well into the time when the housing market bounces back. That bounce back is expected to come in 2009 when the effects of the sub-prime lending market and the problems with insurance issues have been resolved. The move of property owners was in hopes of capturing the boom in vacation home sales in spite of the very much problematic housing crisis.


Be on the Lookout for the Best Home

Written on 17 September 2014 by

5777689-for-sale-real-estate-sign-isolated-on-a-white-background

Seeing is believing, this saying is what most people think of when looking for the right home. This is why reputable sales agents give out their one hundred percent to cater to all the client’s needs. Agents would normally give out flyers or brochures to passersby (the brochure includes the entire house’ features and sometimes the price). If you happen to be in a mall, they have Be on the Lookout for the Best Home for You Seeing is believing, this saying is what most people think of when looking for the right home. This is why reputable sales agents give out their one hundred percent to cater to all the client’s needs. Agents would normally give out flyers or brochures to passersby (the brochure includes the entire house’ features and sometimes the price). If you happen to be in a mall, they have booths that include a miniature house that is a replica of the actual house.

Another way you can check on the house that is being offered is by visiting a open house event. Normally, an hour is enough to check the whole house. This is enough time to help you decide whether you should buy it or not.

Finally, if you cannot go out to scout for a house, then you can simply go online and have a virtual tour of your desired house. Remember to look out for site features to help you utilize the website. If you accidentally click on language, etc. You really do not have to go to a Thai school and attend Thai classes to understand the language, simply click on your desired language and you are good to go. Things like these may be overlooked and just needs some few readings to understand how the site works. booths that include a miniature house that is a replica of the actual house. Another way you can check on the house that is being offered is by visiting a open house event. Normally, an hour is enough to check the whole house. This is enough time to help you decide whether you should buy it or not.

Photo Credits

 


FBI Reports Mortgage Fraud Cases are on the Rise

Written on 10 September 2014 by

mortfraud.jpgThe Federal Bureau of Investigation is starting to see a tremendous surge in mortgage fraud investigations that they have diverted agents from menial tasks to help stem the problem. Fraud in US financial Institutions, as well as those associated with lending practices are on the rise as a result of the sub-prime mortgage debacle. There were several incidents of insider trading violations who allow risky borrowers to continue getting loans in spite of the current crisis that has been a result of the same practices. Several companies, though undisclosed, are being investigated for fraud and other crimes related to the mortgage industry. Lenders are some of the worst hit but they are essential for the industry to survive for they provide bulk of finances needed for short-term goals. They are also the ones who fuels the industry but cases of fraud and insider meddling may signify that people are getting desperate in their attempts to survive the crisis. The agency is hard at work to get these people to answer for their crimes in hopes of preventing further loss of confidence in them for they are the lifeblood of the industry indeed.


Weak Housing Market

Written on 3 September 2014 by

The weak housing sales market is still dragging the US economy down even after several tax cuts by the Federal Government in order to help the industry and investors. Looses are predicted with many laying back on future developments till the industry stabilizes itself and the economy gets better which could be a sure sign of recovery. Analysts see the slowdown as a move by realtors to prevent or at least slowdown losses due to investments already made that have been hit hard by the economy and the industry as a whole. Developers and homebuilder are also less confident even when the figures show encouraging signs choosing to be cautious rather than adventurous.


Sale of Vacant homes Hits Record High

Written on 27 August 2014 by

vacant.jpgThe Census Bureau in a report has shown that the volume of vacant houses that are coming up for sale is at a high of 2.9% of all US homes and that figure excludes rental properties. The last highest level was recorded way back 1956 and the figures are sending shivers to homeowners as they too may lose their homes in the coming months. Once exclusive properties have been turned into regular homes with prices hitting rock bottom and much of their allure gone. Doing the math, that amounts to a total of 2.28 million properties that are vacant and for sale in the whole United States from 2.18 million from the last quarter of last year. Global economists are finding the figures quite worrying and they are keeping a close eye on the matter. Figures of low house sales that palaces it at a 16 1/2 year low isn’t helping and people are truly worried. Construction firms who have been hit have cut back on their work in hopes of getting the housing industry to catch up are having to cut back more to remain in business.


House Market – Down in the Gutters?

Written on 20 August 2014 by

vachme.jpgHouse prices continue to slide with only the market in vacation homes showing movement. Rentals are on the rise but prime properties continue to decrease leaving many without decent housing. Buyers holding off till things stabilize a bit and insurance industry flaws and loopholes are patched up. Congress continues to debate on how to bring about much needed change in the regulation of the insurance industry and local state governments are getting impatient saying their actions may worsen further the problem for time is of the essence. Many still feel the country is still in recession for the Federal Reserve has showed no signs of willingness to further reduce rates to help the ailing economy.


Warmth During Winter

Written on 20 August 2014 by

Winter months can be trying when it come to showing off your house for prospective buyers. This difficulty is one among a number that turn people off selling property at this time of the year. But, if you are backed against the wall chasing a deadline, or you simply do not have the luxury of waiting for very long then staging your house during winter months may just close that sale.

small__2251657306
credit

Warmth is one important factor in showcasing a house and something some sellers do not capitalize on. Keeping the house at a cozy temperature will present a warm and homey feeling to prospective buyers. Turn the thermostat up a couple of notches before some buyers come over. If you are using a gas fireplace, this could make for some ambience. But if the house has been vacant and your heat source is a wood-burning fireplace, think twice before just switching this on as this may be dangerous.

Warmth is one way to make your house more appealing to buyers during the winter months.


Next Page »