Huntington Beach Real Estate
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Huntington Beach is a relatively large city found in the Orange County region of Southern California. The Huntington Beach real estate market depends heavily on the larger trends experienced by the Southern California and Orange County areas. One potential problem facing Huntington Beach real estate is the foreclosure rate, as reported by the Orange County Metro. The article, written on February 16, 2010, noted that “Foreclosure notifications in Orange County rose slightly in January from the previous month, but the number still remains significantly lower than January of 2009’s figure.” According to an the piece, written by Carol Starcevic, further found that “The increase in third-party sales signals a growing trend in the distressed real estate market. The report indicates that investors are reporting increased competition and higher bids at auctions, bringing the average discount to 17.5 percent last month, which is down from 18.6 percent in December.”
Huntington Beach home sales decreased substantially in some areas during the later portion of January and some early days in February. The article, written by real estate reporter Marilyn Kalfus, found that “For the 22 business days ending February 5, DataQuick’s freshest homebuying stats show these trends in Surf City: City sales totaled 102 – that’s -8% vs. a year ago. Countywide, sales were +8% vs. a year ago in (the) same period.”The piece, published on March 1, 2010, continued to note that “Of the city’s 4 ZIP codes, 1 had sales gains vs. a year ago while 3 had a gain in their median selling price vs. a year ago. None of Huntington Beach’s 4 ZIP codes beat the 14.9% overall performance of the countrywide median for the past year.”
Huntington Beach real estate was heavily influenced by the larger trends of the Southern California real estate market. According to a February 17, 2010 article in the Los Angeles Times, “Southern California home prices rise 8.6%. But January’s year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier.” The piece, written by Alejandro Lazo, continued to find that “But compared with a particularly strong December, the median fell 6.1% to $271,500 in January, ending eight consecutive months of price appreciation or stability in the Southland, MDA DataQuick, a San Diego real estate research firm, said Tuesday.”
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Tags: California, Huntington Beach, Huntington Beach California, Los Angeles Times, Orange County California, Real Estate, San Diego, Southern California | 
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Seattle Real Estate
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Although median sales prices are still below the previous year’s levels, home sales have picked up significantly over the past few months, offering real estate experts with optimistic views of the futures. The economic recession of 2008 has caused major problems for Seattle real estate, especially the commercial real estate market, which hasn’t shown as promising signs as the residential real estate market. The luxury home market is still basically at a standstill, and foreclosure rates are still rising. Although many experts can see the light at the end of the tunnel, it is unclear as to how long it will take for the Seattle real estate market to get there and begin its recovery.
According to DQNews.com, the Seattle region posted a slight dip in home sales between the months of October and November, but the current levels are still well above that of the same period during the previous year. During the month of November, a total of 3,967 new and resale houses and condos were sold in the Seattle area, which was a slight 5.9 percent slip from that of the previous month, but a 84.2 percent increase from that of November of 2008. Realtors aren’t worried about the slight slip in home sales, though, because historical data trends have shown the decline in home sales to be normal. In November, Seattle also posted a 2.5 percent decline in median sales price between November and October from $295,000 to $287,550. The median sales price is still about 3.9 percent below that of the previous year during the same period. Realtors have also reported that luxury home sales have also come to a near standstill, with only about 2 percent of all home sales being those valued at over $1 million.
The Seattle Times has also reported that the commercial real estate in Seattle continues to struggle and is expected to perform similarly to that of 2009, showing very little declines or improvements. Seattle continues to suffer from high vacancy rates for both office and industrial properties with an oversupply of rentals, and real estate experts have noted that numerous development projects started several years ago during the real estate boom are expected to be done this year, increasing the vacancy rates. Many landlords are bracing themselves for a rough year and are ready to take extra measure to keep the tenants that they still have.
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Nashville Real Estate Update
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Like many markets in the South, the Nashville real estate market has experienced a severe repositioning since the onslaught of the U.S. housing market collapse brought about by the subprime mortgage crisis. Since the beginning of the crisis, the Nashville real estate market has seen declines in home prices, lower sales volume, higher inventory and more foreclosures as homeowners grapple with the effects of the recession.
Recently, however, real estate in Nashville has begun to stabilize out slightly, with smaller fluctuations in prices and sales volume. In October, inventory continued to clear out, much being taken off the market as home buyers continued to cash in on the government rebate program offering first-time buyers who qualify up to $8,000 in tax rebates. The rebate has been extended to more potential buyers and is expected to continue to buoy the market. In Nashville, the inventory level was down 2.4% in October from September. The inventory was down 3.58% from 2008 levels.
Homes for sale in Nashville are still seeing low sales prices, however, compared with the highs of 2005 and 2006. October’s median price stood at $157,761, slightly changed from September’s $157,863, showing that the price levels may be stabilizing. The inventory stands currently at an eight-month supply, down from October of 2008’s 10.3-month supply.
Sales were spurred in October. Since January, according to local realtor Grant Hammond, pending sales have skyrocketed by more than 60%. Sales volume in October was 40% higher than at the same time last year, an encouraging sign that the market is certainly active. Closed sales in October were up nearly 20%.
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Categories: Real Estate | Tags: Business and Economy, Foreclosure, Real Estate, Real estate broker, Recession, Subprime mortgage crisis, U.S. Housing Market, United States | No Comments »
Cincinnati Real Estate
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Despite optimistic views of the Cincinnati real estate market due to recent increases in median sales prices, many real estate experts in Cincinnati are still unsure when the Cincinnati real estate market will hit bottom and be ready to rebound. Many experts feel that there are still major obstacles to the recovery of the real estate in Cincinnati, with job security being one of the major ones. Real estate levels in Cincinnati also fail to show consistent improvements from month to month, adding to the uncertainty of the future of the Cincinnati real estate. However, many real estate experts believe that the performance of the Cincinnati real estate over the next few months should provide an outlook on the future of the Cincinnati real estate and when recovery will begin.
According to the Business Courier in Cincinnati, Cincinnati is among to top 15 cities in gains in median home sales prices. Although median prices declined slightly in September of 2009, Cincinnati ranked 13th out of 50 cities for quarter over quarter gains in home prices. Cincinnati posted an 11.5 percent increase in home prices in quarter to quarter gains, but the market was still suffering from a 6.3 percent decline in home prices compared to the same period in 2008. Many real estate experts have noted that the Midwest is leading the nation in real estate recovery, primarily due to the large inventory of affordable housing options. Much of the real estate activity in Cincinnati is taking place in the lower priced real estate markets. However, many experts are still concerned that the problems with job security will continue to be a major obstacle to the improvement and recovery of the Cincinnati real estate market. Full recovery of the Cincinnati real estate market will not be possible if unemployment continues to plague the Cincinnati economy.
The Cincinnati Enquirer has reported that many realtors and real estate experts are anxious to see how the Cincinnati real estate market performs in the coming months as many believe that the extension of the federal home-buyers tax credit will fuel an increase in activity in the Cincinnati real estate market in the coming months, especially as the deadline approaches in April of 2010. Many realtors feel that the tax credit has been a major factor in the slight improvements seen over the past few months, and many expect it to be one of the major factors leading to the recovery of the Cincinnati real estate market.
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Kahala Real Estate Hawaii
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Several of the most popular and highly coveted Hawaii real estate listings are located in the very prestigious and quite elite Kahala area of east Honolulu. At the center of Kahala’s social life is the Kahala Mall, an enclosed shopping mall that serves as a gathering place as well as a gateway to east Oahu. In addition to a number of independently-owned shops and local merchants, a number of nationally and internationally recognized establishments have retail stores at the mall, including Whole Foods Market, Apple Store, Macy’s, Barnes & Noble, Starbucks, Jamba Juice, Radio Shack, Chili’s and California Pizza Kitchen. Consolidated Theatres, the state’s largest movie theater chain, also operates an eight-screen complex at the mall. The mall is known for its sizeable indoor water fountain and an abundance of indoor seating popular with senior citizens in the mornings and young adults in the evenings. The mall is typically quite busy for the entire day from sun up to sun down. While the mall itself technically closes at a certain time every night, the entire mall remains unlocked and open beyond the posted hours in order to accommodate the late night movie crowd as well as the several restaurants that stay open quite late.
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Mission Viejo real estate update
Mission Viejo real estate is slowly but surely beginning to recover although the pains of the nationwide recession and global economic unsteadiness continue to affect the area. While homeowners and prospective homebuyers both continue to struggle and face astronomical odds, at least there is a slight glimmer of hope. According to Yahoo! Real Estate’s recent figures, the median price of home sales and real estate in Mission Viejo remained steady at $475,000 since the previous term and also remained steady in the foreclosure side of home sales, stabilizing at a median price of $429,697.
While the local market has been lucky enough to experience a relatively mild encounter with the poor economy and real estate market, there is significant room for continued improvement and growth in the immediate area. Mission Viejo homes for sale followed the county-wide trend of price increases, according to Jeff Collins, Jonathan Lansner, and Mathew Padilla of the OC Register on October 14, 2009. They claim, “the median price for an Orange County home – or the price at the midpoint of all transactions – was $429,000 last month, up 0.9 percent from the median in September 2008. Mission Viejo properties, along with those from other market leading beach communities like Laguna Beach, Newport Beach, parts of Irvine, and Huntington Beach, helped to turn around the numbers for October 2009 and forecasts looking into the future.
Matthew Padilla also reported on October 2, 2009, that potential homebuyers have found it increasingly difficult to obtain the necessary amount of funds to purchase a house. This has prevented those ready to make the leap from actually engaging in the market. However, he also encouraged people to buy a home immediately or as urgently as possible if they have the means of paying. He claims that “if the average value has dropped by, say, 20%, you ought to be able to buy some home at less than average, say 25% lower than what it would have been before the decline. The average could drop further and not affect you because you bought lower than average. Someone else may buy a home that is only 15% lower than before. Between the two of you, the average is 20%, but you got a deal.”
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Marin County Real Estate
Marin County is situated no more than twenty minutes to the north of San Francisco, but it is entirely in its own little world. Surrounded on three sides by water, Marin County is full of natural wonder and beauty, complimented by plenty of wide open spaces, sprawling redwood forests, clean beaches, various small towns and a mild climate year round. The area is exceptionally popular, and is seen as a mecca for cyclists, hikers, bird watchers, sunbathers, artistic types, sightseers and photographers; tourists travel here from all over the world.
The true charm of Marin lies in the areas eccentricities. There are dozens of unique communities providing hundreds of different lifestyle options. The county is divided up into four regions; South Marin, North Marin, West Marin and Central Marin; although officially there are 11 incorporated cities within the county. Every neighborhood has its own distinct features, history and draws. South Marin includes the prestigious communities of Tiburon, Sausalito, Mill Valley and Belvedere. Central Marin includes Larkspur, Corte Madera, Greenbrae, Ross, Kentifield, San Anselmo, San Rafael and Fairfax. Novato is by itself up north, while West Marin consists of a number of warm and welcoming small towns.
Due to slow growth policies, Marin boasts a fairly small population that has proven remarkably sustainable and stable over the past few years. Picturesque surroundings, warm and welcoming communities, world class educational institutions, five star restaurants along with plenty of shopping locations have made Marin one of the most sought after places to live in the world.
Home prices in the area are some of the highest in the United States, and the price tags for Marin county real estate continue to rise. In 2008 the median sale price for a single family house was $1.268 million. Because of the strict anti growth policies preventing most new development, one third of the county is a permanently open space.
Marin County has a reputation as an extremely fashionable family oriented area. With its small population of roughly 250,000 people, residents here are generally highly educated, with one of the three highest per capita incomes in the nation. Thanks to its many draws, the area appeals to many and attracts a diverse range of individuals. However – most residents of Marin are families, with the average age here being just above 40. Generally, work here is divided amongst a number of different professions.
MARIN COUNTY SCHOOLS
Marin County schools have a long standing reputation for educational excellence. The schools here are consistently listed amongst the best in the state, with pupils earning SAT scores that stand well above the average in the United States. Marin has 19 public school districts, each of which is governed by its own board of trustees, and receives support from both state and local funding.
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Important Things About Acquiring Real Estate
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What comes after finally deciding on which real estate property to invest in? You have carefully chosen the house, so now what? The next thing to do is to write an offer.
Buying a house or a real estate property can be very exciting. After all, you are putting a great sum of your hard earned money into this property. It could also make you feel worried or paranoid. To avoid panic and much confusion, why don’t you first read up or research up about writing an offer for real estate properties before you actually hand over your money or sign a binding contract.
The offer is said to be the first step in the negotiation process. Be very wise and careful when doing this. Experts suggest that when one is making an offer, he or she should try to put him or herself in the seller’s shoes to anticipate the seller’s reaction. Think about how the seller would react should you offer him or her a certain amount. Be reasonable too. Yes, you want to get the best deal possible but being unreasonable and illogical will only waste your time.
It is also important to remember that when making an offer, you are not only presenting the amount you are willing to pay. Instead you are also presenting other things needed in making the transaction. There are protections and contingencies that the seller will also look for. These things act not only as a protection for the seller but also helps in limiting the risks you are about to take. Offering to purchase real estate means that you are showing how you plan to finance the property, your down payment, contracts representation, if you want repairs to be made and who would shoulder this, cancellation terms, insurance policies and how you are planning to settle disputes should they occur. As you can see, there really is more to purchasing real estate than simply buying other assets such as a car or stocks.
Whatever your offer maybe, the seller will of course consider this and make adjustments. This is where you would proceed with the negotiation. In some instances, negotiations fail. Should this happen to you, protection may be in the form of contingencies.
This is a key component that you should include in your offer. Usually, if things do not go the way you want them to, you can cancel the transaction provided that you pay a certain amount as a penalty. If you have contingencies written up in your offer, and you specifically state that in cases of cancellations you do not have to pay for any penalty or you pay only a minimum, you would surely be protected. However, there are many buyers who fail to include such a clause causing many problems for them in cases like this.
Buying a real estate property needs attention, time and effort. It could also be helpful if you have an expert broker or real estate specialist who can guide you through the process of acquiring property. Inform and educate yourself to ensure that you are getting the best deal there is.
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