Housing Analyst Says the Heartland's the Next Winner
Is Indianapolis gearing up for a housing boom like California, Florida, Washington, D.C., New York City, and Boston have experienced in recent years? That remains to be seen, but this article provides some rational as to why we may be due for above-average price increases in the coming years.
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(May 30, 2006) -- A new statistical analysis of housing price cycles in 100 major metropolitan areas suggests that real estate action is shifting to areas that didn’t enjoy the recent housing boom.
Christopher L. Cagan, director of research and analytics for First American Real Estate Solutions, examined historical housing price movements and concluded that middle America markets like Columbus, Ohio; Indianapolis; Houston; San Antonio; Memphis, Tenn.; Atlanta; Cincinnati; Des Moines, Iowa; and Louisville, Ky., are due for above-average price increases and home building because of expanding employment bases and moderate housing prices.
Cagan also doesn’t believe what he calls the shooting stars of housing booms like most of California, Florida, Washington, D.C., New York City, or Boston are going to incinerate. He simply believes appreciation rates will dwindle to the low single digits or go flat for a while as incomes catch up.
His bottom line: Figure out where your community is in the cycle and adapt.
Source: Washington Post Writers Group, Kenneth R. Harney (05/28/06)
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(May 30, 2006) -- A new statistical analysis of housing price cycles in 100 major metropolitan areas suggests that real estate action is shifting to areas that didn’t enjoy the recent housing boom.
Christopher L. Cagan, director of research and analytics for First American Real Estate Solutions, examined historical housing price movements and concluded that middle America markets like Columbus, Ohio; Indianapolis; Houston; San Antonio; Memphis, Tenn.; Atlanta; Cincinnati; Des Moines, Iowa; and Louisville, Ky., are due for above-average price increases and home building because of expanding employment bases and moderate housing prices.
Cagan also doesn’t believe what he calls the shooting stars of housing booms like most of California, Florida, Washington, D.C., New York City, or Boston are going to incinerate. He simply believes appreciation rates will dwindle to the low single digits or go flat for a while as incomes catch up.
His bottom line: Figure out where your community is in the cycle and adapt.
Source: Washington Post Writers Group, Kenneth R. Harney (05/28/06)
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posted by Christina at 6:34 PM
17 Comments:
Thanks,
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Freddie Aguilar
Real Estate Investments
Hey Everyone,
I just wanted to give everyone a real estate tip for the new year. There is a new international real estate website called UniFersal.com. You can advertise your properties/listings for sale or rent for Free. There are already properties posted from 45 countries. You can advertise your real estate realted services for free: agents, brokers, mortgage, insurance, painters, etc.
You can communicate with potential buyers and other real estate related people via chat, message, email, etc. You can even make and receive offers electronically.
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Andy Weitnauer
Buying International Real Estate
1-2-2008
Have you ever thought about buying a second home in a foreign country? Most of us have spent a few minutes online drooling over some of these properties. However, most of us quickly let the dream fade away when we realize how complicated and risky this venture can be.
The hardest part about buying property abroad is that every country, state, and city has different rules and conventions. So to be smart about it we usually start by researching foreign ownership restrictions, tax ramifications, currency issues, etc. This can be very time consuming, costly, and may even lead to out dated and incorrect answers. Along with this, doubt usually sets in; what if the property is over priced and I’m the only idiot in the world who doesn’t know it?
The best way to purchase real estate in foreign places is to contact a trustworthy, local, real estate professional. A local real estate agent will be familiar with the market value of properties in the area you are searching, and they understand the local laws. Your next question is probably; how do I find a trustworthy local real estate agent?
There is a website called UniFersal.com,
http://www.unifersal.com/index.php . You can find properties, look at property pictures, and even chat, call, or message a pre-screened, local real estate professional who speaks your language and specializes in the particular city you are searching in.
UniFersal.com does a background check on all of the real estate professionals that would love to help you buy real estate in their city. They confirm the professional’s real estate expertise in that city, and even ask for references.
If you are serious about buying a property in a foreign country, don’t try to do it alone. Use the internet to drool over properties, then get serious and contact a local professional.
I think that the best way to purchase a property from outside the country then you need to contact to a real estate professional who is local there. The local agents have a good idea of the market trends in that area and can help you get some good property.
As you look around the country, all the areas that have dropped heavily in price have pick up in volume the past few months. Areas such as Florida, Arizona, Southern California and Nevada, are the areas that didn't go up as much and have not come down as much are not seeing the same higher volume. The combination of price, interest rates and now mortgage availability seem to be making the difference.
In many parts of the country the market volume has picked up. In Florida which is one of the hardest hit, volume is now up for 5 months in some areas. The same goes for Southern California, Nevada and many other areas. Bergen County has not been hit as hard as these areas and did not go up as much as they did. Bergen was lucky not to be that speculative of an area. The bottom has been forming in my opinion, although it is taking time, there is a lot of money coming back into the market from the federal government in many forms. It will really start to be felt in the next month or so.
Any updates?
Monique
In many parts of the market volume of a country is in recovery. Florida is one of the worst, the number is now five months in some areas.
I hope thats true! Things seem to be turning around here in Dayton.
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Buying or selling a home or property is a biggest investment in your life. Buying and selling is not the only duty of a real estate agent. They need to know a number of things as well. It is the duty of a real estate agent to find out all issues relating to a property or a house.
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