Home Prices In UK To Further Go Down This Year

January 22, 2009
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The real estate industry should brace itself for another year of turmoil as home prices are expected to continue to decline in 2009.  While major lenders have refused to give their views and predictions as to how low the house prices will fall this year, there are bits and pieces of information that have slipped in the process revealing a grim prospect for the industry.

Predictions of the housing gloom in Britain went from 10 to 20% with the highest reduction percentage predicted by chartered financial planner Armstrong Davis which predicted gloom in the UK real estate market up to 2010 and 2011.

Halifax said the 15% decrease in home prices last…

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Filed Under: Real Estate Crisis

Dubai Still Ideal Destination For Real Estate Investors

January 21, 2009
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The global recession may have resulted to the downturn of the world’s real estate industry but not in Dubai. Dubai has remained the best destination for real estate investors because of a lot of factors including its ability to get juicy credits. To make sure that this remains true even during crunch time, the government of the United Arab Emirates continues to implement laws that are favorable to the convenient registration and transfer of property.

Dubai’s strengths as a real estate investor destination will be showcased during the 2009 International Property Show in Dubai which will be held from February 15 to 17. International real estate investors are expected to join…

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Filed Under: Real Estate Investment

REIT Ideal Hedge Versus Inflation

January 21, 2009
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If you want to have something to hedge against the rising inflation then invest in REIT or Real Estate Investment Trust, a company that does not only buy real estate but manages, develops and even sells it. Most people opt to directly invest in real estate but REIT is a better option. Choose a successful REIT to invest in because these companies offer higher yields to their investors. REITs are real estate portfolios that are professionally managed although of course there are always certain degrees of risk.

Before you decide to invest in a REIT it is best to consult with a financial adviser and a tax adviser first to make…

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Filed Under: Real Estate Investment

Getting out of The Housing Mess

January 21, 2009
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The American housing industry is a mess and while there are lots of intelligent minded people in the United States no one knows for sure the exact formula to get out of the housing mess.

Experts have gloomy predictions and they do not see any recovery in the real estate sector for at least two years. However, there are ways to turn things around and it requires effort from both the private and the government sectors.

Apparently, the unwillingness of the lenders to modify loans is further pushing the country into unemployment and massive foreclosures. What usually happens is an economic crisis followed by unemployment and then foreclosure. This time though, the…

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Filed Under: Real Estate Crisis

Proposed NFL Stadium To Bring Work Opportunities In LA

January 19, 2009
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The proposed National Football League stadium is expected to bring thousands of work opportunities in the area and this is the primary reason why the Los Angeles Chamber of Commerce is fully supporting the project. Chamber marketing and communications director Gwen Oldham said job creation is very important as it stimulates the economy.

The $800 million project is being proposed by Majestic Realty Co which is owned by billionaire developer Ed Roski, Jr. If it pushes through, the stadium will seat on a 600-acre lot near the freeway exchange.

If all goes well, the NFL stadium will be completed by 2012 and the jobs it could generate will tremendously benefit the economy. …

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Filed Under: Commercial Real Estate, Economy Crisis

Nick Nolte’s Malibu Home Catches Fire

January 17, 2009
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An electric malfunction started a fire which resulted to at least $3 million worth of damages to the Malibu home of “The Prince of Tides” actor Nick Nolte. Nolte also suffered minor injuries as a result of smoke inhalation and an attempt to fight the fire using a garden hose.

Los Angeles fire Inspector Frank Garrido said the fire caused both structural damage and damage to Nolte’s artwork, collectibles and other personal possessions.

Garrido said the fire has already reached the kitchen and the living room and the entire residence had smoke damage. The 67-year old Nolte reportedly jumped out of a window from an upstairs bedroom when he detected the fire.

The…

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Filed Under: Celebrity Real Estate, Real Estate

$28M Crantzdorf Castle Razed In Fire

January 17, 2009
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The landmark Crantzdorf Castle in Johnson City, Tennessee was razed in a fire early this week. The castle, which was listed in the real estate market at $28 million, took 10 years to be completed but took only several hours to be destroyed by fire. The Castle has a 20,000 square-foot area with 9 bedrooms, 10 full baths and filled with European castle furniture. The Castle was badly damaged with the upper floors charred by the fire and the lower floors damaged by water.

Crantzdorf Castle is a showcase of European architecture from the building details, to the antique castle furniture. It has grand ceilings, antique fireplaces, antique fountain, stained glass,…

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Filed Under: Real Estate

Non-Payment Of High Rate Property Taxes Means Trouble

January 15, 2009
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The full-blown crisis in the housing market is starting to be felt and among its indicators is the rise in the number of homeowners who have failed to pay their property taxes. Housing Authority executive director Ken Cole said people who opt not to pay taxes is a sign that they are in trouble. And when you get an increasing trend on non payment of property taxes then that means more trouble.

In California’s Santa Cruz County alone, one out of every ten households is behind in the payment of property taxes. Property taxes are an additional burden to homeowners who are already deep into mortgage problems.

The Housing Authority and other…

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Filed Under: Economy Crisis, Property Tax, Real Estate Crisis

Michigan Real Estate Market Shows Improvement

January 15, 2009
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The real estate market in Michigan is showing signs of improvements with an increase in the sales prices of condominiums in Ann Arbor and sales prices of residential homes in Chelsea and Dexter. This was revealed by real estate agent Ann Toth who along with other realtors, are positive about the resiliency of the market.

The University of Michigan Institute of Labor and Industrial Relations reported that the economic crisis may not have hit the area harder than it should have due to the underlying resiliency of the Washtenaw County where Ann Arbor is located.

While Michigan is known for its $106.2 billion auto building and supply industry which includes Ford, Daimler-Chrysler,…

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Filed Under: Real Estate
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