Commercial Property: Opportunities Abound

Tuesday, June 30th, 2009

Over the last few years, the commercial property market in the U.S. has struggled under the weight of businesses downsizing and reorgnising.

Jobs being exported to China and India has also taken its toll, and seen mass emmigration of  U.S. jobs overseas. This was all in motion before the current recession appeared in full force. So what was an unnerving trend in the U.S. is now becoming a reality: there is a large imbalance in the market - too much space for too few customers.

By the end of the first quarter of 2009, U.S. office space vacancy had climbed to 15%.

A Tennants Market

Moreover, since commercial real estate tends to be a lagging indicator, even if the economy starts to grow again later this year–something of a tall assumption–office landlords might not feel the benefit for quite a while longer than that. Now we have a ‘tennants market’, where financially sound tennants are in a great position to negotiate rental values, as there is so much office space to choose from. Rents are also down 3% from last year, and landlords are having to compete fiercely on rents.

In previous years, landlords would always check if the tennants credentials were good, and were financially reliable. That still holds, but now there’s another consideration: is the landlord financially secure? In the current climate, tennants need to make sure if they commit to move into new office space, that the landlord is reliable too. Landlords had intially resisted lower rents as this affects the valuation of the property, but the tide could only be resisted for so long. Rents for commercial property are now at the lowest point in the last 5 years.

The good news? If your looking to lease or buy Commercial Property, there has never been a better time to be looking.
Click here to view the latest Commercial Property in your area.

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Canadian Property Market: Continued Growth

Monday, June 29th, 2009

More good news for Canadians this week, as an official think tank has predicted that Canada will continue to avoid the harshest affects of the recession.

The think thank, in collboration with the IMF, noted that the housing market remains strong, and continues to flourish. The IMF predicts that of all the G7 countries, Canada wil be the fastest growing in 2009, and has one of the soundest economies in the world. Canada’a extraordinary robustness is all the more impressive when compared to the U.S’s recent financial troubles.

Although Canada is sometimes considered the poorer relation to the U.S., or not considered as one of the leading economies of the world, Canada is in fact one of the few countries that continues to thrive in these tough economic times.

Thriving Real Estate Market

Canada’s quality of life continues to rank among the top 10 in the world. With a thriving property market and quality real estate, Canada continues to be an attractive offer to overseas buyers, looking to buy investment property, or holiday homes.

There are a number of reasons why Canada’s property market (and economy) continues is ascent:

Firstly, Canada has built it’s economy on the strength of its oil and gas resources - the 2nd largest oil reserves in the world and the 3rd largest natural gas producer. In the Alberta oil region where much of the gas is produced has a 5% employment growth per annum.

Billlion Dollar Sales

In 2007, when the U.S was recording record number of repossessions, (to get worse in 2008) the Canadian Real Estate Association was celebrating its’ first year of billion dollar sales. Another lesson the U.S: how much of the Canadian real estate lending was sub-prime? About 5%.

With inflation well under control, and the Bank of Canada recently reducing its rates on martgage lending, Canada increasingly looks like a great place to invest your real estate money. Government spending is under control, and house prices continue to rise.

Looking for to buy a house in Canada? Or Commercial Property to buy or rent? Click here to see listings in your area!

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Real Estate: Prices Continue to Fall

Sunday, June 28th, 2009

Real Estate prices continue to rise and fall from month to month, with no real trend developing
in any market. Where is the market heading next? Read on…

Whilst I have been reporting here that in some quarters commentators are predicting an upturn (especially those reports coming from the U.K) I fear that the basic fundamentals of the market will continue to place downward pressure on prices, at least until the beginning of 2010. There has even been renewed speculation that in California, of all places, there has been alleged sightings of an imminent upturn.

Real Estate Fundamentals

The fundamentals I speak of are those of the U.S. economy; temporarily supported by the Obama administraiton’s attempt to put a plug in the sink of its finances, we are now witnessing its slow unravelling. The T.A.R.P money supplied to ailing banks to support their toxic assests has now run out, and unfortunately has failed to avert the crisis, which will return with renewed vigour over the next few months.

If you have been watching the Amercian DOW jones stock index, you wil have noticed a slow turning of the recent rally, where values have been increasing over the last 3 months, thanks to that T.A.R.P money - but this now seems to be over. I’m also reading that U.S. executives are selling their shares in their OWN companies at the fastes rate since the market froze 2 years ago. Scary? I think so.

Home Sales and First Time Buyers

How does this relate to Real Estate? The two go hand in hand. If the economy is struggling, subsequently home sales will be sluggish. The good news is, house prices are becoming more and more affordable as each month goes past - a blessing for first time buyers, who have been pushed out of the market so too long. Are you a first time buyer? Now could be a great time to start researching your local market.

Search for great homes at great prices here.

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Commercial Property News: UK Market Upturn?

Saturday, June 27th, 2009

Rumours continue this week that the Commercial Property market in the U.K. is beginning to make a return to form, after positive figures continue to appear in the market.

More an investors are continuing to move into the devastated U.K. Commercial Property market, as many feel now is the time to be re-entering the sector, with prices many think has now hit the ‘bottom’. With prices now at 70% less than they were at their peak in 2007, many feel that prices simply can’t drop any lower. There was a more extreme drop in activity in the U.K than the U.S., and many feel that there will be a more rapid correction.

Commercial Property Bottoms Out?

Whilst the U.K. remains in a very deep recession, with unemployment rising, the devaluation of the pound over the last 6 months has encouraged foreign investors to enter back into the british commercial property market. The U.K. has also seen a slight upturn in the residential property market too, adding to fuel that the U.K. property market may be through the worst. With the U.K housing prices dropping so quickly, many are expecting this to be the bottom of the market now. As so many commentators note: ‘When you realise the bottom has arrived, you’ve missed it.’

Commercial Valuations

Researchers estimate that the U.K market is around 6 months ahead of the U.S, as it employs more transaprency in valuations, and uses more funding from commercial bank loans. Whilst many investors are now entering the market, some remain skeptical, and are predicting a turnaround in the middle of 2010. Many feel now as sense of reality has crept into the commercial property market in the U.K. Valuations are now more in line with what is seen as affordable after the boom of the last 5 years, when commercial and residential properties were out of reach for most regular investors.

To look at recent Commercial Property Prices in Your Area, Click here: http://www.sell-my-house-quick.com/search/index/type/commercial

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House Prices in California: Extraordinary Times

Friday, June 26th, 2009

After an extraordinary 6 months in California which saw house prices plummet, many are now asking: ‘Are we at the bottom?’.

Many Californian’s are now walking away from homes that are simply not worth waiting around for, and default figures are surging. In many places, prices have dropped over 50%. Whilst some reports are claiming that foreclosures are going down, as bargains are scooped up, many feel that this is just a brief moment of respite before the next storm. Have the ‘For Sale’ signs in your neighbourhood, been up long? Maybe they’ve come down because they couldn’t sell…

No More Foreclosures?

Many commentators are now bravely proclaiming that the californian market at least, has hit its bottom and from here things can only get better. In San Diego, they’re running out of foreclosure units to sell. A sign that the market can move on from here?

California’s median house price rose again for the 2nd straight month, exciting reports of real estate recovery, and april’s inventory shrank as bargain properties were snapped up. There is a returning demand for lower-end properties too - always a good sign.

Prime Mortgages in Trouble

There is still doubt out there about the ‘upturn’ in house sales - and they say there’s more to come, this time from a different sector - it’s the more upmarket parts of town. There is a new wave of defaults coming, in the form of ‘prime’ mortgages, fixed rate products more akin to the nicer parts of your city. These have doubled in the last year, and now incredibly account for the largest share of foreclosures across the U.S. Now that the ’sub-prime’ mortgage default monster has lost some of its fire, it’s now moved onto a better part of town. Previously, neighbourhoods where foreclosures were rare, have now been affected by the threat of lack of credit, forcing many into dire financial straights.

With the tightenting of lending across the board, people looking for larger loans, on more expensive properties are struggling to ‘move up’ into the desired properties. Without this crucial section of the market active, it’s now forcing prices down in the ‘prime’ property market. Larger property loans were down almost 40% from this time last year. Sellers in the high-properties in California are noticing too - houses that previously sold for $850,000 6 months ago are now on the market for $600,000.

Find the latest homes for sale in California here: http://www.sell-my-house-quick.com/search

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Foreclosures Down in the U.S?

Thursday, June 25th, 2009

RealtyTrac, the U.S website that tracks foreclosures across America, yesterday claimed that foreclosures are down 6% in may,  but are still up 18% from this time last year. These recent figures have sparked heated debate amongst real estate watchers in the U.S.

It may seem on first glance that figures augur well for the future, until you look at the bigger picture. Mainstream media may tell you one thing, but the reality tells you another:  300,000 + foreclosures in May, the third straight month of 300,000 + foreclosures. The media’s job on this particular downturn is to do everything they can to help the market recover, and good on them. But keep your eye on the reality, and you’ll be doing better than most.

In the last 3 months, that comes to around a million foreclosures - 2008’s total was 850,000. There’s a great opportunities out here to sell for a reasonable price, and great opportunities to buy for a reasonable price. For a gauge on the current real estate market in your town, click here: http://www.sell-my-house-quick.com/search.

Some commentators are scepticle about realtytrac’s fugures, and are using California’s condition as a barometer for the U.S.’s physical health. California remains a hugely important element of the U.S real estate market, with the state’s unemployment surging to 11.5 %. With Arnold Schwarzenegger recently commenting ‘ Our wallets are empty, Our bank is closed’ many fear the worst for the U.S.’s most populated state with 38 million people. Forclosures are expected to increase over the summer, so sellers are expected to have to reduce the price of their homes for a quick sale, with many buyers looking for good prices.

There will also be an increase in the states where foreclosures are not traditionally previlent.  With mortgage rates quietly rising, many people who were expecting to be able to re-finance about now, are finding rising repayements inevitable. California State Treasurer Bill Lockyer has been to washington to plead for help from the Obama administration, and has been told in now uncertain terms ‘your on your own’.

There is also problems with the governments’ help plans, which are admittedly still in their infancy, to aid the rising flow of troubles. It remains to be seen if Obama’s aid can stem the rising tide of financial troubles.

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Rental Boom in Australia

Wednesday, June 24th, 2009

A new report from Australia reveals that rental values are increasing across the country. The data indicated that rentals are increasing on average $40 dollars a week - proving the rental market remains buoyant despite tough economic times. Darwin hits the top spot with the greatest increase for 2009, with greatest increase in rental value, and property price increase.

Sydney also gained in rental values, with a $70-a week increase.

Australia recently hit a 40 year high, and has now reached an impressive rate of population increase, growing by 1.8%, to 21.5 million over the last 12 months - the fastest pace in 4 decades. Nearly 240,000 people arrived on australian shores in the last 12 months - many of whom are looking for a place to live - and possibly rent.

As the population grows, this in turn allows the econony more room to expand, demand for retail goods grow, and consumer statistics compound. It’s also bodes well for the future of Australia, helping to bring down the country’s average age, and improving the ability of the economy to cater for itself.

Unlike the U.S . and the U.K., there remains in Australia a lack of supply for rental properties, as more and more people arrive. The influx of people into the country creates demand, and pushes up rental values. In the U.K especially, there is a glut of unwanted rental homes, as potential sellers were forced to give up finding buyers for their homes, and moved into the rental market, which has in turn forced down rents.  As the market in Australia remains tight, more investors will invest, putting further upward pressure on prices, until that demand has been satisfied.

Population figures are as follows: Western Australia is still popular with a 2.9% growth, Queensland 2.5%,  Northern Territory 2.2%, Victoria 1.8%, ACT 1.4%, New South Wales is at 1.3%, South Australia remains slow with a 1.1% and Tasmania has increased at 0.9%.

Western Australia continues to pull in migrants from other states: 22,500 in the last 12 months, and Queensland attracting 5,500. New South Wales lost the most, with 22,000 people moving on from that state.

To search for Rental properties in your chosen state, visit or page for rental properties page:
http://www.sell-my-house-quick.com/search/index/minrental/1

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Yields Increasing in Australian Rental Market

Tuesday, June 23rd, 2009

With interest rates falling, prices of property decreasing, and rents slowly rising, the Australian rental market is beginning to gain some momentum. Recent newspaper reports in Australia, buyers in syndey and melbourne can now purchase properties with better yields than 6 months ago, with improvements in rental yields now meaning that rents will cover mortgage payements - a sure sign that the market will continue it’s gentle increase in popularity. As reported earlier in the articles section, Australian rental properties and yields remain robust.

Small inner city apartments, and homes in cheaper suburbs are the most popular choices for landlords looking to make wise investments, and return on their intial layout costs. At the more affordable end of the market, rents are still allowing good returns, and vacancies are few and far between - it’s still a market that is offering shrewd investments choices, in Australia at least.

Those who wish to delve into the market should make sure they have plenty of equity to support their purchases though, as prices may still fluctuate for the next year or so, making re-financing difficult to obtain. Those investing should understand that investing in property right now, is very much a long term call.

Australia remains a popular country for immigration for europeans searching for sunnier climates, with Queensland being the favourite destination of choice.

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Beat Realtor fees with FSBO

Monday, June 22nd, 2009

Selling your home can be a painful process in the current economic climate, so if you really have to sell, why not FSBO? (For Sale by Owner.)

More and more people across the country who have homes for sale are selling privately. They’re saving thousands on realtor and estate agent fees. It’s simple and can save yourself a small fortune. Need to sell your house quick? Cut out the middleman…

Get a value for your Property
The first thing to do is get an estimate of the price of your home / property. You can do this two ways: Hire a professional for a small fee, or do some online research, and create an estiamte yourself. (And save even more money!). Go to your local real estate or property website, and find out what local properties, similar to your own, are selling for. This is what most valuers do anyway - they go online and look at homes and properties that are the same as your own - and then charge you for this simple job. You can do it yourself when you sell your home privately!

Adding Value
Second, you need to present your home in the best light to a potential buyer / tennant. Again, this is a simple task for you, and its easy to do a great job. Check out our properties for sale on the site here: http://www.sell-my-house-quick.com/search, and you can see how other people have marketed their properties. You can also read form a previous atricle some great tips on adding value to your home: http://www.sell-my-house-quick.com/articles/home-improvements-and-adding-value-36.html?preview=true&preview_id=36&preview_nonce=e3ecccff98.

Writing Descriptions
You’ll need to write a good description of your home, going into to detail and think about all the great features of your property, and what makes it a great buy for someone. Every property is a great buy for someone! Remember in writing your description, this is your oportunity to do a great sales pitch. You can  do some online research into ’sales pitches’ if you feel you need help. If your selling a house, you’ll need to measure the rooms with a tape measure, and note this in your description. Take some nice, bright pictures of the rooms. If the rooms don’t have the best natural light, make sure all the lights are on. When selling ‘For Sale By Owner’ you need to take your time and get the sales pitch right - you can look at your local realtor or estate agents’ wesbite, and take note of the features that they mention as a selling point.

When potential buyers arrive to view your home, give them a short tour, and leave them alone to wander around on their own, to get used to the feel of the house, relax and let their imagination create visions of the future. Don’t be upset if a potential buyer offers you less than you have advertised for - in the current market, this is likely, as buyers are uncertain of the future - will prices continue to head down? Negotiations always go better if you can remain upbeat, and there will be many people who will see you ad, so don’t get stressed.

Your Legal Team
It’s also important for you to find a local real estate lawyer, or solicitor in europe, to guide yout through the contract making and legal decisions. Remember you NEVER hand money over, or take money from someone as a deposit or for any reason. Just don’t do it. ALL monies are handled by your legal team. There’s no need for you to be taking money from anyone, especially if it’s an offer of desposit or whatever. All buying and selling activities are to be directed through your legal professionals. If you need to find legal help, ask friends and family for advice. If they can’t help, hop online and find recommendations in your local area.

Go for it - Sell Your Home FSBO!
Why pay someone a small fortune to do a job you can do? You can probably do a better job, because you care. Sell you home yourself, sell FSBO!

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U.K. Housing Market in Recovery!

Sunday, June 21st, 2009

It’s all Over! The Housing Market has bottomed out!

Well, that’s according some reports after new research released from the department for Communities and Local Government (CLG) says housing prices in the U.K have stabilised.

The Royal Institute of Chartered Surveyors (RICS) have recently reported that interest in housing purchases rose this month, and everything is now looking good again…

House Prices Rising

CLG figures revelaed that house prices fell just 3% in April 2009, which has been reflected renewed interest in the buying market in the U.K. There is also good news for first time buyers (FTB’S) as they are now paying 16% less than a year ago to get onto the all-important property ladder. The avergae house price in the U.K now stands at £189,000. Month on month house prices rose 1%, compared to a 0.5% rise for the same period last year. Natiowide and Halifax have also confirmed that housing prices have stabilised, and have also seen a renewed interest in property seekers.

Many commentators are now in agreement that the new figures represent genuine good news for the U.K market, and that this is the moment where many investors will return to the buying arena.

There is a distinct lack of supply in the U.K for new buyers, and this could in turn lead to a return to price increases, though some warn that markets generallt remain cool in the run up to a general election.

U.K Homes For Sale

Northern Ireland was worst hit this year, with a 20% decrease in house prices, whilst Wales lost on average only 10% - a small decrease when considering that house prices rocketed for so many years. A pull-back was inevitable, and such a small drop should be greeted with relief. Scotland was least affected, with a drop of only 8%. House priced in Scotland remain relatively subdued during the last 5 years, with Dundee noted as a particular bargain hot spot, where good quality housing and quality of life remained relatively cheap. Edinburgh, as many who live there know, was something of a standout city, where prices were beyond the pale. While prices in Scotland’s capital city remained fairly robust, many other cities (including Glasgow) collapsed. Glasgow was particularly hard hit - with an oversupply of new builds in the city centre. ‘For Sale’ signs now consume many sites in the city. In England, prices fell also, with an overall drop of 13%.

Some commentators are still unsure this is the housing bottom, sighting the activity and recent figures as still relatively low, compared to a vibrant housing market. many suggest that a bottom will be mid-2010, and with a further fall of around 10% to come this year. Prices in the U.K would probably need to fall by that percent to allow first time buyers into the market and a normal pricing range to develop. U.K housing remains overpriced to many.

U.S Home Sales

If the economy does start to grow, and unemployment eases, then a recovery could well be expected early 2010. Much depends on the housing market in the U.S., which tends to dictate how the U.K market grows. Much concern remains over the Obama administrations’ handling of the U.S.’s employment figures, with a recent poll suggesting that the public perception of the Obama administration starting to falter.

Looking to check recent pricing in your city? Check online: http://www.sell-my-house-quick.com/search

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