Vacation homes and Investment Properties – Strong and Steady
Written on 5 October 2009 by Avatar
The movement may be slow but the investments and purchases of vacation homes and other luxury properties by foreigners continue to maintain momentum. This is providing just enough juice to prevent the hose sales market wheels from grinding to a complete halt which would mean the loss of hundreds if not millions of jobs in all sectors. A rise of 11 percent from last year’s figures from 21% in 2007 to 33% to this day, it means that the market, in that avenue anyway is still going strong. The typical vacation home buyer was in their late 40’s till early 50’s and that they were investing indeed for their vacationing needs. Bothe foreign and local buyers are still doing shopping in spite of the problems being experienced in local house sales.
Foreclosed Property – Trash It!
Written on 13 September 2009 by Avatar
Lenders are finding it very hard to recover from the financial crunch and so do the previous owners of houses that have been foreclosed. We have seen this in the past months, that people are turning to desperate measures to assure nobody else benefits form their foreclosed homes. They trash it, some turn to arson and other crimes that render these houses un-sellable or in need of major repair for them to once again become appealing to sell. These cases are on the rise and arson being a crime is having more and more houses being razed to the ground by fires their previous owners have initiated. Call it frustration or call it desperation, it shows the true effects of the financial problems we are now experiencing that is bringing out the worst in some of us.
Homes, now cheaper than Ever
Written on 25 August 2009 by Avatar
If area is taken into account, the current home prices in the US are at the lowest levels in many years and that goes for all the levels of the spectrum. The realty business has relied on the price/square foot metric to avoid the influencing of house sizes on pricing trends.
The prices per square foot have decreased by more than 25% for some metro areas with some experiencing increases in mere points. Indexes that track changes to 20 major US cities have a combined price decrease of around 12% which is another sign of the growing pains in the industry that is waiting for signs of hope that the crisis is going to end soon.
Home Prices Rise ever so Slightly
Written on 10 July 2009 by Miggy
Home prices have notably been higher since last month but they are still way below their prescribed price ranges compared to the boom days of the industry. With experts seeing the mortgage loan rates at an artificially high level, there is an alarming rate of around 62% failure which is high meaning the trend might not last. Life is indeed getting tougher and jobs are still falling short of expectations as people try to survive this long recession. It is however forecast that the recovery for the housing market will come by 2012, a long way out as we all try to stave off the effects of this, one of history’s longest recession periods ever recorded to date.
Property Values Continue Decline
Written on 10 June 2009 by Miggy
All over the place as the world continues to suffer from the current recession. Financial markets and any other market are struggling to cope with the strain as they themselves are severely affected by current economic conditions. But the problem is that more and more people are losing homes, more than what are being sold and with mortgages failing (more’s on the way). The housing market is in crisis and there’s little anybody can do about it, for even the US President’s Stimulus bill has failed to make much of an impact on the housing market that received part of the trillions of dollars. With a proposed second round of bailout funds rumored, it may just be met with greater resistance this time round for it may not make much of a difference anyway.
Mild Development Spending Rises
Written on 8 May 2009 by Miggy
Mild 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 »
UK – Big Trouble Ahead
Written on 8 April 2009 by Miggy
The recession’s effects is circling the globe and people are feeling the pinch, nut what about the countries who have been blamed for the whole mess in the first place. Two of the richest countries in the world, the US and UK are both feeling the effects pf the recession with both suffering in terms of economic growth. Billions or even trillions of dollars have been released from government coffers but it just seems to be not enough to salvage the economy which is almost at a standstill. Continue »
Property Values Forecast to Drop
Written on 8 March 2009 by Miggy
Industry experts are forecasting a further drop in the prices of properties as they continue to decline as the recession drags on with not much of an end in sight. With much of the world in economic turmoil, recovery would need the economy to get a boost from the many other markets which makes up a country’s economic might and with some of the biggest deep in trouble with banks going bankrupt and filing for dissolution it may take a year or so for the world to recover from the global economic crunch. Continue »
Smoking, fire safety and home insurance premiums
Written on 24 February 2009 by editor
If you are a smoker who’s looking to buy a new home, you might want to consider kicking the habit. This is because insurance companies usually give higher home insurance premiums to smokers because of the fire hazard smoking causes. Even if you make it a habit of disposing of your cigarettes or cigars properly, accidents can still happen.
Besides quitting smoking, you can also install a fire prevention system in your house like fire alarms and sprinklers to get lower home insurance premiums. Insurance companies are happy to give low premiums to home owners who are less likely to file claims.
Quitting smoking and fire prevention systems – they might be a bit pricey at the onset, but not only do they save you money in the long run, they keep you, your family and your home safe too.
January – Jaw Dropping House Prices
Written on 30 January 2009 by Miggy
As the crisis in the housing market deepens, hopes of a swift end are fading fast as housing market figures put it at it’s lowest in years this month. Figures from the statistics boards show that prices are lowest in many years yet ordinary home buyers are still steering away from any purchases. This is due to fluctuations in other markets to which the housing sector is directly tied into. The financial market’s, banking sector and many other industries that are waiting on the housing market to recover. Mortgages have also managed to drop to all time low levels that has brought about some good news with figures for mortgage applications going up a bit.
This may be a sign that the bailout funds the government is putting into the industry and the homeowner’s pockets is indeed making a difference saving their homes and getting people enough cash reserves to start spending. Analysts have long been saying that it will be a long and painful recovery but in today’s real estate market any good news is welcome, just hope more is coming in the saga that is the housing market crisis.
