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

One Million Home Foreclosed In 2008

January 19, 2009
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A total of one million home shave been foreclosed last year increasing the foreclosure percentage by 63.5% compared to 2007. The US Foreclosure Index shows a 67% increase in the rate of pre-foreclosure filings in 2008 compared to the 2007 data.  This means that up to 2.1 million pre-foreclosure actions have been implemented last year to include notice of default or auction which are done prior to foreclosure.

As of December 2008 the number of foreclosed properties has reached a total of 97,841 which is a 19.3% increase from the 82,033 homes foreclosed in November. However, the peak foreclosure month for last year was September and the December foreclosure rate is…

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Filed Under: Foreclosures

HR 384 To Stimulate Home Buying Demand

January 19, 2009
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House Bill 384 or the TARP Reform and Accountability Act is expected to make affordable mortgages more accessible to qualified buyers and in the process stimulate the demand for home buying. The bill, which was introduced by Representative Barney Frank, is being eyed as the first step to reviving the housing market and attaining economic recovery.

By amending some provisions of the Emergency Economic Stabilization Act of 2008, the bill seeks to strengthen accountability and lessen foreclosures. Those in the real estate sector are confident and al praises for the bill saying it is an important step that the government should take to pave the way for the recovery of the…

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Filed Under: Mortgages

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

Relais Paradiso Is One Luxurious Destination

January 17, 2009
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The Relais Paradiso Hotel in the Vietri sul Mare is one luxurious piece of real estate and those who have money to spend and those who have more curiosity than money are awaiting its opening in March. The hotel boasts of 23 suites and guestrooms that are decked in luxury including a personal laptop and iPod for each room. Not surprising though considering that the hotel belongs to the Ragosta Hotels Collection which is known for its luxurious real estate pieces.

Even the outdoors of the hotel is luxurious including a swimming pool, solarium and suspended gardens. The hotel is located near the sea so expect a Mediterranean landscape and a…

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Filed Under: Inns & Hotels
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