realestatedailytrends.com

Researchers Note Trends, Marketing Implications, for Real Estate Agents

The Director of the Keller Center for Research in Residential Real Estate Marketing at Baylor University’s Hankamer School of Business, Dr. Chris Pullig, sales are on the decline there has only been a marginal reduction in National Association of Realtors (NAR) membership, hence fewer transactions are available to each individual agent noted today that while existing home.

In the mid-1990s and continued through the first half of this decade, during the recent housing boom NAR membership nearly doubled from 729,266 in 1993 to 1.27 million as of 2005. The number of real estate agents continued to rise, as the number of homes sold shifted downward in 2006.

Housing market Growth

The money magazine has made exclusive forecasts, with the generous help of the Moody’s economy.com and Fiserv Lending solutions, on 380 housing markets including New York, Las Vega, Los Angeles, Montgomery, Prescott, San Francisco, Honolulu, Cambridge and United States.

They say that there is a 3.5 percent increase in the prices of single-family houses from June 2006 to June 2007. David Stiff, the chief economist of Fiserv, stated that it is a decent increase though it is still less than the half of last year’s clip and it is under 10% of the annual rate in the past five years.

A Reference on Real Trends

Leaders of the residential real estate industry can find useful, timely and trusted information from REAL Trends, which for twenty years, have been able to give answers to business and strategy questions, either from newsletters, e-mail updates and conferences they organized. These have been combined now and can be accessed in the website, with contents as far back as 7 years ago. These include conference presentations, research reports from REAL Trends and other sources. Be updated and read the news of the day. One of the most important responsibilities of REAL TRENDS is do the research but deliver only information that are relevant to their readers, a promise to their clients, customers and friends.

Find out more from realtrends.com

US Commercial Real Estate Industry

Commercial real estate in the United States is a billion dollar industry. Each day brokers and agents provide thousands of transactions to investors and buyers in a market that fluctuates as the economy does. In the United States, alone, property values have suffered as the rise and fall of the global economy does. With outsourcing to minimize expenses, property used for commercial development has taken a major hit and has some experts wondering if there will be a rebound.

Every city or town has zoning laws that dictate what can be used as residential property and what is considered commercial real estate in an area. These areas can differ by only a few feet but the taxes and property value are drastically different. Whereas a 1200 square foot housing property might lease for nine hundred dollars, the same equivalent in a commercial area might go upwards of fifteen hundred. Real estate investors take this into consideration when searching for commercial real estate properties.

Read the rest…

Existing home sales could hit 5-year low

Realtors forecast for year sees the outlook worsening in 2008

WASHINGTON – Sales of existing homes in the U.S. are forecast to decline to a five-year low in 2007, a trade group for real estate agents said Tuesday, and the outlook for 2008 is worsening.

The ninth-straight downwardly revised monthly forecast from the National Association of Realtors calls for U.S. existing home sales to fall 12.7 percent this year to 5.66 million, down from 6.48 million last year.

Last month, the association predicted a 10.8 percent drop from a year ago.

This year’s sales would be the lowest since 2002, when sales hit 5.63 million. The Realtors group forecasts sales will rise slightly next year to 5.69 million, but that is down from last month’s prediction of 6.12 million.

Read the rest…

Florida: Increased Market for Townhouses

The market for townhouses has increased throughout the state. This is because single family home prices have gone up.

Townhouse is a cross between a condo and a single-family home and offers the best criteria of both worlds. These units are detached with private entrance or gate and the owner need not worry taking care of a landscaping.

This type of units is not viewed same with the condo boom, but seen as a substitute to higher land and construction costs of a single houses.

Townhouses production has increasingly grown for the past five or six years in south Florida. Because of this boom and low prices, more family are buying or moving into townhouses.

(image source : brownstoner.com

Banks: Foreclosure Increases , Sales Decreases

Now days, foreclosure is alarmingly increasing in higher rate and because of this, lenders are acquiring homes faster than selling them off.

About 2% of home loans were foreclosed by the end of last year, and was noted as the highest foreclosure rate since the Mortgage Bankers Association started collecting data.

It was also mentioned that the heaviest concentrations of foreclosed loans are in Florida, Nevada, Ohio, Michigan & Indiana. Rallying in the foreclosure are California, Arizona & Georgia. And because of this increase, it is expected that about two-thirds of homeowners will lose their homes.

And some of these houses in foreclosure state will not totally be owned by banks. Because borrower will go into deals with the lenders on easing the loan terms and allowing them to catch up on payments.

(image source : howstuffworks.com

Canada: Housing Market Drops

According to some evidence, Canada’s housing market is been dropping for four consecutive months, at least 15% below than last summer. In the first quarter of 2008, the average resale of home prices declined. And the demand for new residential building and single-family home permit has sharply dropped, and unsold new homes are trending higher. Another factor for the housing decrease, is the inhospitable weather and home renovation expenses are beginning to cost higher.

Canada is making a risk in doing an eventual price correction for its real estate market. While inventories of unsold houses are getting high, market for this is not overbuilt, wherein new houses built are regulated. Also, Canadian lenders have maintained a conservative loan qualifying criteria and sometimes an adjustable mortgage rate, to help lessen foreclosure.

(image source : nationalpost.com)

Home Prices Rise – A Bit

Home prices are on the rise but industry analysts still say they are at so low levels it’s still prime time to buy properties and other forms of real estates while they are still cheap. But with no end in sight to the economic crunch, there’s no telling when the market would ever recover. Some people in the industry forecasting the end to the current crisis to come by 2012, nobody knows how the industry would survive. But for the mean time, people who could afford to purchase property should take advantage of the low prices, just be sure to do ample homework on the property so you don’t put all your eggs in one empty box.

Mortgage Rates at their lowest – And People Know About It

The rise in mortgage loans are on the rise and people couldn’t be happier for they couldn’t afford these financial assistance packages if the market was still in its prime. Many real estate industry analysts are noticing the rise but they say it won’t last long for the market s still experiencing a default rate of over 50%. This translates to that much people who are defaulting or are so late in their monthly payments they are facing foreclosures. Jobs are still being shed by companies and with it comes the ability of these very people to pay up their mortgages. With no way to finance their homes, and their job assistance checks barely able to sustain their lives, it seems that only a miracle can take this recession away.