The first warning shot has just been fired across the bows of Manhattan’s high end property sector. Douglas Heddings, of New York real estate blog, True Gotham has just reported:
“Well I knew that the day would come when a voice on the other end of the phone would say, “We’re in a holding pattern because my bonus wasn’t anything like I thought it would be.” That day has indeed arrived as one of my team members informed me that he received just that phone call last week from one of his buyers who was in line to purchase a $2,900,000 property at The Rushmore.”
Hydra Properties, one of the leading real estate developers in the UAE, has just announced the start of work on the initial phase of “Hydra Waves.” Hydra Waves its first international development – in Mazatlan, north of Mexico.
The US housing market is in a slump, no one would question that, but a slump offers bargains as well as disasters. What was an un-affordable property just a year or so ago, may well now be within reach and many real estate investors are on a bargain hunt at the moment.
Many ordinary people have already made a killing by investing in realty. They were probably very apprehensive about buying the first investment home, but as long as that goes well, it is easy to get hooked! In case you keep mulling it over and wonder about the risks, here is a starter kit of very basic pondering points.
As a follow up to all those who asked the question, “how much is the Amazon rain forest?” in the most unusual properties for sale post a few weeks ago, I have now found out the price. – A cool $100,000,000 . This is taken from Viviun’s website with a few spelling mistakes corrected. You would think someone selling a one hundred million dollar property could afford a decent copy writer. Email me if you are interested Mr. Viviun.
Former Federal Reserve Chairman Alan Greenspan said he has “no particular regrets” and that the deepening slump in the U.S. housing market isn’t a result of his policies.
“Markets are becoming aware of the fact that the decline in house prices is not stopping,” Greenspan said today in Oslo. “I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon.”
- At Home, but Not in Their Own
- washingtonpost.com
- Consider that house prices could fall 30%
- nytimes.com
- Behind Freddie and Frannie’s Free Fall
- biz.yahoo.com
- Mortgage Giants: The cracks are spreading
- economist.com
- Freddie, Fannie Shares Will Continue to Slide
If you’re ready to invest in residential investment property, you are about to set off on a juicy, long-term investment that will bring you big bucks in the years to come – if you manage your money wisely. The first step on your way is to get an investment property loan.
More on Residential Investment Property Loans – Crunching Numbers
Despite massive cuts in price ( Las Vegas developer KB Home started slashing prices several months ago and in the 1,400-home Huntington community, a subdivision of two-story stucco houses west of the famed Strip, homes that started at $320,000 a year ago are now listed for $270,000,) the US housing market continues to decline.
According to the National Association of Home Builders, sixty percent of builders cut prices last month to no avail. The reasoning is that buyers are wary of buying a new home for fear that another price cut may be in the offing afterwards and they will have to eat a portion of the sale price immediately. There’s a certain twisted logic to this thinking that’s leaving builders in a no-win situation.
What are FSBO homes, and can you really make money flipping them? First some definitions. “Flipping” refers to buying and selling real estate for a profit over a short period of time. Some “flippers” are looking only to make money from buying low and reselling quickly, while others repair and improve or otherwise add value to the property before selling it – an important distinction we’ll get back to in a moment.
