Sales Of Oahu Homes Down By 50%

February 28, 2009
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Here’s another casualty of the worsening housing industry. Oahu has registered a 50% reduction in the rate of sales of homes and condominiums. This is the lowest level of sales since the Asian economic crisis in the late 1990s. Sales of single family homes went down by 46.5% while the sales of condominiums went down by 50.9%. The slow sale was attributed to the cautious and wait and see attitude of the consumers in the light of the economic crisis.

The Honolulu Board of Realtors reported that the lack of demand has resulted to a 10.1% reduction in the average sales price for a single family home or roughly $539,500. This…

Goverments Plan To Buy Foreclosures Nixed

February 28, 2009
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Government plans to allot $2 billion from to the economic stimulus package to prevent home foreclosures has been welcomed with criticism by some sectors who believe it will all be for naught. Under the Neighborhood Stabilization Program passed last year to rescue the country’s housing industry, an estimated $4 billion has already been granted to all 50 states.

However, critics believe the program lacks money and planning. Ohio’s Livingston Avenue Area Commission president Mike Aaron said they are a month away from the funds and yet they still don’t know which houses are going to be involved in the program.

A total of $258 million has been earmarked for Ohio but the…

Orlando Homes Sales Up In January

February 28, 2009
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Home sales in Orlando for the month of January registered an increase compared to the other areas in the state. With 1,127 home sales which is equivalent to an increase of 28% compared to the same period last year, Orlando is up to a good start. This was confirmed by the Florida Association of Realtors. With the exception of Tampa-St. Petersburg-Clearwater which registered an increase of 17% with 1,573 home sales, Orlando leads the rest of the region numbers-wise. Trailing Orlando is Fort Myers-Cape Coral with 758 homes sold which is a 124% increase in sales from last year.

The Florida Realtors were able to sell 8,450 homes this January which…

Federal Housing Administration (FHA) Suspends Ban

February 26, 2009
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For investors who are currently experiencing a hard time with their finances due to the disturbing economic status, the Federal Housing Administration or FHA can be your knight in shining armor. The financing scheme FHA offers is good enough to fix things up to avoid total loss of project investments.

The temporary suspension of the ban against insuring loans on incomplete projects would mean a great deal since FHA offers cheap fixed rate. Well, a 35-year maximum would allow buyers and refinancers of establishments to revive and rebuild what has almost been shattered.

Following FHA’s requirements like documenting and presenting other proofs of payments is relatively simple, yet gives the investors the…

Home Prices Continue To Drop

February 26, 2009
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One of the closely-monitored sectors today is the real estate industry, especially when the dwindling of the economy is beginning to take its toll. Yet there is still a lot of room for opportunities in real estate today – quite an amazing reality. Believing what the expert analysts say, getting an abode now could even be the most appropriate time, because of the dropping trend of prices in several metropolitan areas in the country.

The $789 billion economic stimulus package does pose a very promising outlook that will definitely help in reviving and stabilizing the real estate market, since this would mean more job opportunities that will surely contribute eventually to…

San Jose Is One Hot Real Estate Market

February 26, 2009
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It is unbelievably true! Investing and nesting in San Jose is a great choice. What with the reasonably low interest rates as well as more accessibility options and choices. The 51% increase in the market sales this year only shows how rich and promising the real estate business is in this city of California.

Its strategic location spells gateway to convenience, thus it is one clear indication that there is so much to expect here than you would have imagined. Whether you choose the heat of the waves in Sta. Cruz or the icy cool breeze of the famous Lake Tahoe alpine lake, both of these are within your reach when…

Bal Harbour To Open In 2010

February 25, 2009
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Picking up from its ruins in 2007, Sheraton Bal Harbour is set for a new make-over.

On the nine-acre property at Collins Avenue will rise the St. Regis Resort and Residences, Bal Harbour, a fresh destination for those who are into luxury condominiums.

This new venture is undertaken by Sheraton, a first time development project for St. Regis. The towers on this nine-acre property will have 27 floors which can accommodate not only hotel rooms, condo-hotel units and even private condominiums. Sales are brisk with residences being sold and some to be up for sale by the late quarter of this year.

So what does this destination offer? World-class amenities await its residents.…

Vacation Home Buyers Benefit From Foreclosure

February 25, 2009
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Prices evidently slid down with the series of foreclosures affecting the housing market. The result? More bargains that have not been imaginable years back.

Vacation homes with amenities such as swimming pools and state-of-the-art kitchen are among those foreclosed and popular among buyers of second homes. With the aid of online resources, breezing through foreclosed properties is not as insurmountable task as it would have been years back. This is even made easier by banks that approach their target markets thus making it more familiar for people to get familiar with the processes of obtaining properties through these financial institutions. Real estate agents too are more upbeat in approaching the crisis.

Per…

CIGNA To Preserve Bunshaft Building

February 25, 2009
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Preserving this building may not have been part of the plan but thanks to the efforts of Hartford architects who resisted the idea and instead moved for its inclusion in the National Historic Trust Preservation, this building now stands as the headquarters of CIGNA eliciting favorable reaction from the public.

At present, this CIGNA corporate headquarters at Harford is both modern and classic – delivery of mail to every department is undertaken by a ROBOT. The building retained its sleekness, a signature it has attained for being designed by Gordon Bunshaft, the same person responsible for the popular Yale’s Beinecke Library who captured the prestigious Pritzker Prize in 1988. Another attraction…