A Positive Outlook for Real Estate

Word Count:
276

Summary:
There is one word to describe the current housing market: optimistic. Despite months of examination about a housing bubble and rising finance rates, the outlook for real estate is excellent.

Keywords:
real estate ticket,real estate education,online real estate course,online real estate school

Article Body:
There is one word to describe the current housing market: optimistic. Despite months of examination about a housing bubble and rising finance rates, the outlook for real estate is excellent.

The worries of a bursting real estate bubble really seem to be low among homeowners. In a national survey conducted by ING Preside over, most individuals experienced some growth in their home value in the past 12 months. The average increase was approximately 6%, with owners in New England and Pacific states having the leading growth. The values of homes in south central states remained about the same.

Most homeowners do not seem worried about a downturn in the real estate housing market. Very nearly 74% of the individuals surveyed, who have owned their homes for more than three years, remained optimistic about the value of their home.

The 30-year fixed rate finance is at its highest point in four years. But, as it hovers at 6 percent, it is still a relatively low rate compared to the exceedingly high rates of the late 1980s when finance rates augmented to over 10%.

According to Freddie Mac, there are indications of a strong economy, which is why finance rates have augmented lately. Consumer confidence is on the rise and existing home sales is also on the upswing. This can be attributed to a positive labor market. As most people know, healthy employment leads to greater consumer spending.

Consumer perception is everything. With the continued view that real estate is a excellent investment, people will take up again to buy and sell houses. This will bode well for home buyers, home sellers, real estate salespeople, finance lenders and just about anyone correlated to the real estate industry.

Buying foreclosure properties can really be a nightmare. While foreclosed properties are ordinarily one of the most profitable funds you can make, if not done properly you can lose huge time. You have to know how to compare the price to the market in your area. Without having that skill, you might as well just toss your money into the wind and see who catches it.

If the foreclosed property you are looking at is selling at auction, you also have to know the rules of that auction. Every auction has its own set of rules and if you are not careful, some auctions may even seem to work backwards to you. When investing a lot of money to buy a foreclosure property, the last thing you want to do is spend it before you know what you are doing. Every state, county, and city has their set of rules regarding these auction properties so be sure to get the facts before you ever go to an auction. Do not ever take it for granted that what works in one district will work in the next because that is just not right.

There are a number of other risks that you need to be aware of when buying foreclosure properties as well. Be sure that you do a lot of conception and learning about the many different things to avoid in this type of investment. There is gold in real estate and the more you learn about extracting that gold the more you will make when buying foreclosure properties.

The best investors, property flippers, and landlords spend many years studying the housing market. They learn the regional market, the rules for buying foreclosed properties, and most importantly, they learn what to avoid when buying foreclosure properties. To be as successful as them, you only have to learn what they know and do it too.

There is no question that the abundance of foreclosed properties has presented a unique chance for anyone interested in making money in the current real estate market. If you educate yourself, you can learn about buying foreclosure properties, so that you can buy and flip for a quick profit. Of course there is much that you should know before you venture out and start looking for foreclosed homes on the market. That’s where we come in.

A new course is being released soon that is designed to train anyone how to take advantage of this lucrative chance. The course is designed by a well known real estate investor, Charrissa Cawley, and will equip you with all the knowledge and skills you need in order for you to become a successful property investor in your own right.

CLICK HERE to get more information and sign up to be one of the first to take advantage of this once in a lifetime chance.

We all know it’s terrible out there…With the severe credit crisis and the declining housing market, Fox, CNN, MSNBC, and even the President remind us of our struggles daily. Home foreclosures are at an all time high, even in my neighborhood in Austin Texas with many more foreclosures predicted to come. Housing resale values are at all time lows with no end in sight. Even the banks are going bankrupt as many Americans no longer qualify for credit.

Because of the recent credit crisis, many people don’t qualify for a new loan to buy a house right now, despite the incredibly low housing prices. Many home sellers can’t sell their uninvited houses because they owe more than their house is worth due to falling house prices. Many sellers can’t even rent their houses out for enough to cover their finance payments, taxes and insurance resulting in severe negative cash flow that bleeds then dry month after month. To make matters worse, many tenants end up trashing the house when they go out making it even more hard and expensive to sell.

If they list their house with a real estate agent, their house will likely sit on the market for a long, long time waiting to sell since the buyers seem to have magically disappeared. Even if the house does finally sell one day at a greatly REDUCED price to get it sold, the owner has to pay a 6% real estate fee plus the majority of the closing costs. This often consequences in the seller writing a huge, stout check at the closing table to finally get their house sold.

So what are my options to sell my house in Austin Texas quick in this depressed economy and housing market when many folks can’t get a loan? By trial and error, I exposed the subsequent 3 alternatives to try to sell my Austin TX home quickly…

1. I tried to sell my house in Austin “For Sale by Owner” aka “FSBO”.

At first, selling my house by for myself sounded simple enough, but it soon became my worst nightmare! What went incorrect:

At first I didn’t know how to attract buyers that might be interested in purchasing a home in Buford Georgia…The For Sale By Owner sign in the yard wasn’t working. I finished up spending a fortune placing classifieds in the local paper which resulted in few potential buyers. Those that did respond wanted to see my house at all different hours of the day or night. I was worried to say no in dread of losing a potential buyer. I would have to keep my house clean and all picked up, only to have them flake out and not show up! Other times I had some pretty scary people show up with their rowdy kids in tow, trampling through my home.

I never did find my ideal buyer. Even if I did, I had no thought how to get them qualified, how to handle all the buy and sale paperwork or how to get the house closed. I said “There has to be a better way to sell my home!” and I was determined to find it.

2. I listed my house for sale with a local Austin real estate agent.

I called an agent from a local, seemingly reputable, real estate agency and made an appointment for her to come out and see the property. The agent sounded like she really knew what she was discussion about and got me really excited about the prospect of selling my home quickly. She said she would list my house in the MLS, on dozens of real estate sites throughout Texas, advertise my house in the local paper and other print publications, do multiple open houses, place out signs, balloons, flyers in an information box and went on and on about how she could sell my home and still get top dollar. How could I refuse? I didn’t.

I listed my house and waited, and waited and waited. The agent place the house on the MLS, but the market was pretty tough and, despite her best efforts, six months later, I still didn’t have a buyer. Meanwhile, my house had not only decreased in value because it would not sell for the list price, which had been reduced repeatedly, but also because of all the other listed houses and foreclosures on the market in my area of Austin. At this point, I was all out of thoughts and praying for a solution. About that time, someone at my church told me about RedBuysHouses.com.

3. I contacted a local, professional home buyer from Austin, Texas.

My friend from church told me that she had similar problems selling her Austin house, but that she had contacted a local professional home buyer who bought her house in under a week! What? Is this possible? Could I sell my Austin Texas house in 7 days or less, too? She said there are professional house buyers out there, also known as “real estate investors”, who buy and sell real estate for investment purposes. You’ve probably seen their “We Buy Houses” advertisements around town but never gave them much thought. These are people who buy houses professionally and are always actively looking for more houses to buy. She gave me their phone number and web address (Locally 512-945-6006, website: www.RedBuysHouses.com) and I contacted them ASAP. A local Austin home buyer from there called me and said that if my house qualified and if I was flexible on price or terms, that they may be able to buy my house in the next 7 days or less. She said depending on my situation that they may be able to pay all cash, pay some cash now and some cash later or take over my finance payments giving me immediate debt relief. At this point I was certainly flexible and had nothing to lose by scheduling an appointment for them to come see my home and possibly allow me to sell my Austin Texas house quick!

So I scheduled the appointment with the Austin home buyer and she came out and inspected my home. She said it was just what they were looking for and that she had several buyers looking for a similar home. I was ecstatic! She made me several offers to buy my house as promised. I chose the offer that best suited my needs and we scheduled a closing the subsequent week with a local real estate closing attorney. It was that quick and that simple to finally sell my house in Austin! I still can’t get over it. After waiting two years trying to sell my house on my own and through a licensed agent, I was able to sell my house in less than 7 days to a local professional home buying company!

If you have an uninvited Austin Texas house you need to sell quick, call 512-945-6006 or visit www.RedBuysHouses.com and complete their online Seller Questionnaire for a FREE, no obligation consultation. You have nothing to lose by contacting them and everything to gain. I was able to sell my Austin home quick and you can too!

While there are few markets in the country that have managed to survive the current housing market without any battle scars there are some markets that have experienced more serious issues than others. Two of the worst markets in the United States at the moment are Cleveland and Detroit; but, they are certainly not alone when it comes to markets that are falling with no end in sight any time soon.

By and large, the riskiest markets at the moment are those that are experiencing the highest rates of foreclosures. Other factors that are contributing to problem areas include high rates of job loss and slow job growth. Markets in which the number of homes for sale is rapidly rising are also experiencing significant problems. Rapidly rising property values just a few small years ago is also proving to be a stumbling block for many markets.

During the housing boom these markets commonly experienced property value increases of two-fold and even three-fold in many cases. Once the boom finished; but, these markets started to fall and as of yet, they have not hit the bottom. These markets are also at greater risk for problems due to the large presence of adjustable rate mortgages.

During the housing boom, as prices were escalating quickly, buyers frequently took advantage of adjustable rate mortgages to obtain even lower interest rates to make their housing payments more affordable. This was quite common in areas where first-time home buyers were struggling to afford the rapidly rising prices of homes.

The subprime finance market is also more highly concentrated in these areas of the country. Lower interest rates at the time prompted many people to rush out and buy homes. Unfortunately, the credit profile of many of these buyers was less than sterling. Finance loans made in these markets during this time frequently involved subprime, adjustable rate mortgages. As the market started to fall, interest rates started to increase. Today, those same homeowners are finding they can no longer afford their finance payments. The result? Foreclosures have risen sharply in market areas where the boom once allowed housing values to double and even triple practically overnight.

Economic conditions in many areas have further fueled the crisis. As the number of layoffs increase, the number of foreclosures and homes for sale seem to increase as well.

At the moment, the ten worst housing markets in the country are Sacramento, New Orleans, Detroit, Shore-San Bernardino, Las Vegas, Tampa, Miami, Cleveland, Phoenix and Jacksonville, Florida.

Sacramento, considered to be among the top ten of the worst housing markets, has experienced a drop in homes prices that is well above the national average. Like many other housing markets in similar situations, Sacramento fell victim to a quick paced market and subsequent plummeting pricing. Today the median home price for homes in Sacramento remains far above other markets in the country, despite the aggravation situation. Given the large number of houses on the market; but, this is far from excellent news.

In spite of the situation in Sacramento; but, it is certainly not the worst case scenario at the moment. That honor goes to Detroit, where market prices have experienced a drop of more than 7%. The key factor in Detroit is the massive amounts of layoffs stemming from the auto industry. Matters are not much better in Cleveland where median prices have also dropped by several percent and inventory continues to rise.

While these markets are not showing any signs they will rebound in the near future; there are some markets; but, which are really redeployment increases. Seattle is one such market. Median home prices in Seattle have really risen very nearly 9% in the last year. Other cities on the rise include Raleigh and Charlotte in North Carolina as well as San Jose, California. San Francisco is not far behind, garnering an increase of more than 7% in the last year.

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