Nashville Real Estate Update

May 6, 2010 by · Leave a Comment
Filed under: Tennessee 
Nashville Tennessee Skyline
Image by Exothermic via Flickr

The Nashville real estate market seems to be relatively strong compared to the rest of the country. The one potential weak spot is home prices, which were reported on by an April 8, 2010 article in the Nashville Business Journal. That piece found that “Nashville’s home prices aren’t done falling according to an analysis released Thursday by Fiserv Inc. The Wisconsin company said it doesn’t expect Nashville’s home prices to bottom out until the third quarter of 2011, and says prices won’t return to 2007 levels until 2018.” The article continued to note that “It based its report on historical trend data and forecasts based on the Fiserv Case-Shiller Indexes, which measure sales price trends for existing homes, as well as data from the Federal Housing Finance Agency and Moody’s Economy.com.”

Foreclosures amidst Nashville real estate have also been edging upwards, but that figure remains quite mild relative to the rest of the country. According to an April 7, 2010 article, also in the Nashville Business Journal, “Foreclosure rates in the Nashville area continued to rise in February, according to data released today by First American CoreLogic. According to the data, 1.44 percent of outstanding mortgages were in foreclosure in the Nashville-Davidson-Murfreesboro-Franklin area in February. That is an increase over February 2009, when the rate was 0.75 percent. The current rate is still below the national average of 3.17 percent.” The piece continued to note that “The mortgage delinquency rate also increased in February. According to First American Corelogic, 6.05 percent of mortgages in the area were 90 days or more delinquent…”

The volume of Nashville home sales, however, has increased impressively, according to an April 9, 2010 article in the Tennessean. The piece, written by Naomi Snyder, found that “Interest rates are at historic lows, the government is shoveling thousands of dollars in tax credits at people who buy homes, and the Nashville real estate market responded in March with a 22 percent increase in sales compared with a year ago. With a new sense of optimism, sellers are putting more homes up for sale here, buyers are signing more contracts, and homes are moving at a much brisker pace that’s likely to last at least until summer.”

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Tucson Real Estate Market

May 5, 2010 by · Leave a Comment
Filed under: Arizona 
City of Tucson
Image via Wikipedia

The Tucson real estate market is showing continued strength with the exception of a few indicators, a welcome departure from the harder-hit Phoenix market.  According to an April 6, 2010 article in U.S. News and World Report, “Robust activity in the Tucson housing market may portend an end to the housing crisis there, even though home prices are still bumping along at low levels. Sales are rising as home buyers take advantage of big inventory, sellers willing to deal and the federal home buyer tax credit, says Bob Herd, president of the Tucson Association of Realtors.” The piece, composed by Christine Dugas, continued to note that “In Tucson, home sales were up 6.6% in February compared with the same month in 2009. ‘The first-time home buyer market is very robust, even with multiple offers in some cases,’ Herd says. ‘And the move-up market is starting to show small signs of life.’”

The same article in USA Today tracked other positive news for Tucson home sales, such as a higher median sales price. The article, written by Christine Dugas, found that “In February, Tucson’s median sales price was 15.5% lower than in February 2009. That was largely driven by a surge in sales at the low end of the market because of the tax credit, Herd says. Arizona still has the nation’s second-highest foreclosure rate. But among major metro areas, Tucson ranks 41st, which is much lower than Phoenix, at No. 8, according to RealtyTrac.” The article continued to note that “Foreclosure has made some popular areas more affordable, including Dunbar spring, which is a small, historic neighborhood near downtown.”

More mixed news for Tucson real estate was reported by an April 12, 2010 article in the Arizona Daily Star. This article noted that “Tucson home sales were up in March from the previous year. But the median price of homes sold – while higher than February’s – was down from March of last year. In Tucson’s housing market, 1,169 homes sold this March, with a median price of $157,680, says the latest monthly report by the Tucson Association of Realtors Multiple Listing Service.”

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Benefits of investing in Hawaiian real estate

May 1, 2010 by · Leave a Comment
Filed under: Hawaii 
Hawaii #16 - Baby wolphin
Image by Mark Interrante (aka pinhole) via Flickr

Hawaii has long been known for its tropical beauty and outstanding sceneries. It boasts a unique charm and lively, floral appeal that is enough to refresh and enthrall your mind and body and fill you with abundant energy. Such is the beauty of Hawaiian resorts. From crowded beaches amid sparkling waters to magnanimous mountains and hilly regions to the lush growth of flourishing flora; the place is indeed one of its kinds. Every year millions of tourists from all around the world are attracted to this tropical paradise. Some of these are new visitors while there are still those who are so captivated by the place’s beguiling beauty that they return frequently to spend their vacations.

Hawaii with its beautiful six islands offers a rich geographical variation to its visitors. With a unique blend of cultures, the place holds the power of turning your simple vacations into a highly distinctive and enjoyable experience.

Out of the large number of tourists who visit Hawaii every year; a majority opts for rental houses or condos, while on the other hand there is an equally large population in search of a suitable property on this perfect holiday destination. People may opt for a real estate property on any of the six Hawaiian Islands namely: Kauai, Oahu, Molokai, Maui, Lanai and Big Island

You will find a huge variety of houses, lands, villas, apartments, single bedroom cottages, condominiums and duplexes on the islands. Whether you are single, newly wed couple or a large family, investing in a real estate that lies in a tropical paradise is indeed worth it.

For real estate buyers, there are abundant opportunities available. Even though the market lacks it usual galore due to the recent financial crisis all over the globe, the chances of finding a suitable accommodation that best suits your likes and budget are still very high. Furthermore, with the recent decline in the real estate property prices, the time is indeed ideal to invest.

For some the investment in Hawaii homes may seem rather dis-satisfactory owing to the declining prices and market clumps. However, it is worth mentioning the fact that this fluctuation is not a new one and that the chances of recovery by leaps and bounds are indeed very high.

Furthermore, another benefit of investing in a Hawaiian real estate other than its breathtaking views and floral charm is that of lower interest rates. This means that the buyer is actually able to purchase more property than he thought from his given amount.

Investing in Hawaiian real estate is also beneficial because overall the cost of living in Hawaii is very high. This major tourist attraction is also one of the most expensive places to live in and thus one has to consider all the housing costs too.

In addition, the cost of rentals is extremely high, especially if you wish to live on the main land. For this reason, the idea of investing in a real estate is more economical. The prices of Hawaiian homes are still very high; however, they have dropped considerably in the last few years giving the buyers more chances of finding amazing deals. So make sure you buy yourself a slice of this heaven on earth before the property prices soar again. Many buyers tend to foresee this economic trend as an ideal future investment.

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