The UK property market ended in 2008 with a spectacular fall in both sales volume and individual prices.
Some experts in the property field have predicted that 2009 will follow a similar pattern and both home owners and buyers shouldn’t expect any significant movement yet.
Recently major UK lenders and estate agents were asked to predict both sales and valuations for 2009. The response was that there was little positive outlook, however most predicted some form of recovery.
Looking back now as we approach the end of April, this was an active month for the real estate scene. Here are some of the highlights of the April housing scene – some good, some not so good:
Short Term Interest Rates Exceed Long Term:
Finally for the first time in decades, it is cheaper to lock into a long term mortgage rate. Imagine that – mortgage financing that helps the buyer!
According to the latest results of the Primary Mortgage Market Survey (PMMS) released by Freddie Mac, the 30-year fixed-rate has dropped down to an average of 4.80 percent. Same time last year, the rate was 6.03 percent.
A one-year Treasury-indexed adjustable-rate mortgage (ARMs) averaged at 4.82 percent. Same time last year, the same mortgage was 5.29 percent.
If you are looking for something that is quaint and offers the opportunity to live in luxury at affordable prices, the real estate options of North Bay Village in South Florida are really worth taking a look at. In addition to nearly 400 single family homes, there are plenty of luxury condominiums and apartment buildings available for purchase. If you like the idea of island living, this community offers you the opportunity to live in style in a quaint village that is known for its shops and restaurants and close proximity to Miami.
North Bay Village first came into being when it was built up from the waters of Biscayne Bay in the 1940s. Together with Treasure Island and Harbor Island, the community was incorporated as a village and became the haven of many snow birds who flocked to the area every winter to escape the brutal cold of the North. Many of these snow birds eventually decided to make the area their permanent year round home because they loved the quaint lifestyle plus the benefits of being surrounded by Biscayne Bay on one side and the Atlantic Ocean on the other. If you are looking for prime beach front property that is affordable and yet still has a hint of luxury that you crave, North Bay Village has plenty of real estate offerings for you to choose from.
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Not that Dubai needs some celebrity endorsement to gain popularity; the “city of gold” is a star in itself. When a celebrity purchases some villa, island, or just put his/her name to some building, it’s hard to determine who’s being promoted? Dubai? The star? or both of them? Dubai has got a celebrity status, that is why celebrities are more than happy to attach their names with the developments going on, some have done it by purchasing a piece of property, others by giving their names to some development, while some are trying their luck in designing hotels or golf courses. Although, the property has got to deliver what it is supposed to deliver (yields on investments, luxurious lifestyle or world class business facilities), still nobody minds paying a little more when they know they will be getting a villa in the neighborhood of David Beckham or Brad Pitt.
Big names from Sports world:
Sheikh Mohammed bin Rashid Al Maktoum presented a whole island (in “The World”) to Michael Schumacher at his retirement, probably one of the most expensive publicly known gifts to an individual in recent times. Schumacher involvement doesn’t end there; we have got a whole Michael Schumacher Business Avenue at Business Bay as well. Similarly Boris Becker has a 19-storey building named after him. ACI Real Estate recently launched “Boris Becker tower” in the same district. Talking of tennis celebrities, everybody knows the famous friendly match played between Roger Federer and Andre Agassi at the helipad of Burj Al Arab hotel. Then we have “Tiger Woods Dubai”, a golf resort designed by non other than Tiger Woods himself. David Beckham represents the football stars at Dubai, who owns a luxurious Villa at Palm Jumeirah (though for the time being, his in-laws are more likely to occupy it).
Continue reading ‘Dubai Real Estate Becoming Home to Celebrities’ »
Washington Park Real Estate encompasses a neighborhood of over 3000 homes divided up amongst 26 original subdivisions that were carved from the prairie between 1896 and 1926. The homes built were Victorians, Denver Squares, Bungalows, and Ranches. Today these same homes have been expanded, remodeled, popped and scraped, giving us the blend of the old and new, the nostalgic and edgy that brings us the wonderful mix of neighbors we have.
The buyers of the homes in Washington Park are classified as cool hunters, empty nesters, investors, out-of-towners, and bloomers. Cool hunters are those who thought living in a loft in downtown Denver was a good idea, but who found themselves running with their dog, throwing their frisbees, or playing volleyball in Washington Park. Bloomers are the young families that already live in the neighborhood and, because of growing families, need more space.
As a real estate agent, it’s safe bet that you’re both short on time and working with a stretched budget. On top of this, you need to use your limited budget to find new prospective buyer and seller clients, win listing presentations, and last but not least, market your listings. Single property websites are one way to achieve all three goals, at a budget friendly cost of about $10-20 per listing. In this article I’ve boiled down the five main reasons to add a single property website to your bag of marketing tools:
1. Sellers love them. I learned this lesson firsthand after a recent listing. During my listing presentation, I gave my clients about 50 pieces of paper along with about two dozen reasons why they should work with me, one of which was that I would create a single property website for their listings. After I won the listing, I assumed they just skimmed everything and didn’t think the single property website was even that important to them. At the time, I was working with a new single property website provider (who charged about $700 for photos and the site, by the way), and she didn’t get the site live for several days after my listing started. Continue reading ‘5 Reasons You Should Add Single Property Websites to Your Real Estate Marketing’ »
single property wordpress website (1)Las Vegas is an attractive city to make home investments. It offers people plenty of opportunities in terms of employment with the Las Vegas strip minutes away. People seek to relocate here for better jobs and cheaper houses. Even with the down housing market new residents can see that there is a constant demand for homes and value of your home will rise in the coming years.
The Las Vegas real estate market is beginning to take off again and the prices and incentives are truly incredible. These resale home prices are at reasonable prices and mortgage rates have been lowered as far as 3.9%! There are plenty of new homes for sale at great prices, but the price can’t compare to these previously owned homes.
Continue reading ‘Here Are Some Simple Steps If You Decide to Purchase a Pre-Owned Home’ »
Individuals who own their own homes have many benefits that tenants don’t. Many studies have showed that homeowners are most likely to be interested in their communities, build wealth, and continue their education. Homeowners are also least likely to be involved in crime or to bet on public help. Just the stability offered by living in one place, and taking pride in the ownership of one’s house, can advance the standard of living. The trouble has always been how to make homes affordable to those in greatest demand of those benefits.
The affluent recognize that a properties value will increase over time, and can cut their taxable income. But there is a huge racial and socioeconomic breach that has been slow to change. The number of minorities who own homes has increased slowly over the past few years. Nevertheless 74 percent of whites owned homes in 2006, compared with 42.8 percent of African Americans, and 48 percent of Hispanics. Homes are simply not in reach of a large part of this population. In California in 2007, the average monthly mortgage payment on new homes sold to first-time homebuyers was over $2600. This does does not make homes affordable for the average earner, minority or not.
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Global markets are crumbling, currencies all over the world are weakening, stocks are plummeting, and most disturbingly businesses are collapsing in an alarming rate causing millions worldwide to lose their jobs. If you don’t think the global recession is real, you need to wake up from the rock you’ve been sleeping under.
To address the personal financing skid, and to help gather funds during these trying times, many of us have started considering selling our homes. It might appear drastic, but studies show it’s a high risk high reward scheme that actually has a very good success batting average, especially if you let experts move your property for you. Here’s why:
Continue reading ‘Top 3 Reasons Why You Should Sell Your House Now’ »
Avoiding the proverbial remodeling nightmare involves hiring the right home remodeling company in Arizona. With the most qualified and reputable contractor, your project will get off to a good start. And, chances are high you will be satisfied with the end result. Unfortunately, remodeling scams abound and the industry has some dings on its reputation because of these unscrupulous companies. And, negative remodeling outcomes seem to increase when the economy is on the skids. When money is tight and people are out of work, home improvement projects represent a target for unethical contractors. Therefore, homeowners must protect themselves from becoming a remodeling victim. With some research, you can easily find the best home remodeling company in Arizona. The cream will definitely rise to the top if you take the proper steps at the start of your project. Warning Signs When Selecting a Home Remodeling Company in Arizona Selecting a remodeling contractor is the most important step in your project. The contractor you choose can make or break your project’s success. The following red flags should cause concern when deciding on a home remodeling company in Arizona.
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