Saturday, August 25, 2012

Trends in Luxury Real Estate

Today's trends in luxury real estate include luxurious beach houses, penthouses and villas in the best places on earth. Trends in luxury real estate actually change often, but there are some things that always remain the same.

Water front properties are always in the top rankings. Beach houses can be so luxurious that you will prefer to stay there even if the other option is a five star hotel. Beach houses can include a number of facilities as a rather big apartment and private beach. The trend today is to have your own butler that can take care of the house when you are not there and take care of your requests when you are. Luxurious beach houses can be found in the whole world. Miami, southern France, resorts in Spain, Greek islands and exotic Asia are just a few places that you can consider.

If you are looking for property in a city, the trend in luxury real estate today is definitely new studios. New studios is the name given to apartments that can be found in the cities in buildings that were of limited use in the past. Buildings that were not used are most of the times old and have big apartments and a rather valuable architecture in the outside. When the government decides to renovate these buildings and use them, you have your chance to create a luxurious apartment. There are many cities in Europe and in the States that have undergone these procedures and there are also many people that took the opportunity to buy an apartment in the city in a beautiful building that is fully renovated and has a history of its own. These apartments are large and most of the times have tall ceilings that give the impression of royalty. Bathrooms are big and contain all the facilities including Jacuzzi and hot tabs and there are almost always extra rooms that are used as wardrobes.

If you want an apartment in the city but you don't want a studio, you can check the penthouses. Penthouses are the number one classic trend in luxury real estate and the reason for that is the view. Any penthouse even these from hotels base their process in the view. There is nothing that can make an apartment more luxurious than being able to see the sun rising, the sunset and the city lights in the night with the moon and the stars above you. Just thinking of it makes someone feel relaxed. Penthouses are also very practical. They can be used as your first apartment and you can leave there alone or with your family. They are commonly preferred by people that travel on business a lot as they offer two things. The first is the chance to relax and enjoy a beautiful view when you are home and the second is that a penthouse is ideal to host an informal meeting. So make sure to check this option if you like it.

Wednesday, July 25, 2012

Real Estate Trends in Halifax

Halifax, Nova Scotia offers great quality of life in a spectacular setting on the Atlantic Ocean. As the region's economic, cultural, and social capital, Halifax has all the amenities and conveniences of a large city - but with a population of only 380,000, there are fewer big-city problems and a low cost of living. As the largest city east of Montreal, it's the regional center for finance, health care, commercial industry and transportation - and Halifax is also home to six degree-granting universities, many cultures, fine dining, and world class shopping.

It's no wonder that Halifax real estate is doing well! In January 2010, the average sale price of a home increased by 2% and the number of sales increased by 20% over 2009's figures. According to the Royal Bank's Housing Trends and Affordability Report of November 2009, though, momentum is now slowing in Halifax, making it a balanced market for both buyers and sellers to do business.

Whether you are looking to buy or rent in Halifax, there are a wide variety of housing choices, ranging from urban to rural, condominiums to single family detached, offered at a full range of prices. According to the Canada Mortgage and Housing Corporation, the average selling price of houses in Halifax in 2007 was $332,821.00. Due to these low home costs and the affordability of other essentials like food, the cost of living in Halifax is one of the lowest in the country. For an extensive list of houses currently on the market, visit the MLS website and select Nova Scotia.

Thinking of renting first to see if Halifax is for you? The average monthly rental costs are holding steady at approximately $700 per month for a self-contained one bedroom apartment including utilities.

It's possible to enjoy fabulous condo living in Halifax, too. Right now luxury units at the Bishops Landing development right on the waterfront at harbour's edge, are going from $459,900 up to $1,200,000, starting at a huge 1230 square feet. Southwest Properties is the owner and developer.

A special note on commercial real estate trends - in the 4th quarter of 2009, office vacancy rates remain flat in nearly all sectors across the Greater Halifax region. Translation: the market is firmly in the landlords' favour, with a vacancy rate below five percent, limited leasing options, and no new construction (though there are several major projects being considered downtown, no new inventory is expected until 2012-2013). Business owners, don't despair: In the suburban market, conditions favour the tenant, with lower rents due to less expensive operating costs and property taxes, better quality leasing options than those offered downtown, and ample free parking in most cases.

Saturday, July 21, 2012

Chicago Real Estate Market Trends for 2012

The real estate business in Chicago has always been known for rising and falling as seen in the past few years. Each year has a unique market trend that characterizes it. Several issues do come up in the business. Several factors also determine the market trend for each passing year.

In the current 2012, the Chicago real estate market trends have been on the declining side. According to current reports on Trulia, the entire market trend for 2012 has been declining all over Chicago. There's a decline in the Median Sales for Chicago homes as from January 12 to March 12, 2012. The price stands at $160,750. This shows a 13.1% decline compared to the decrease of 10% seen in 2011.

The Trulia report also says that sales prices in the market have also depreciated since the last 5 years up to this present 2012. Actually, there's a little bit of increase in the average listing price within April 2012. The report holds that the average listing price for homes earmarked for sales stood at $388,423 as at April 25, 2012. This shows a little increase of $2,854 or 0.7% compared to the previews week.

Again, there's also a decline in the price per square foot in Chicago. The average price per square foot stands at $124 as at April 2012. This, shows a decrease of 12.1% compare to what was obtainable on April 2011.

The 2012 market trend for Chicago real estate also shows a concentration of sales on specific neighborhoods. The most popular neighborhoods that are attracting real estate sales include Lincoln Park, North Side, Wicker Park, Loop, Bucktown, and De Paul. The housing market is quite hot in these areas. Investors are busy buying and selling in the mentioned areas.

Meanwhile, there are current trends and news on the Chicago Real estate market conditions. For instance, the US Treasury Department reports that 35% of home sales in Chicago are distressed compared to the 34% seen nationwide. The current May Issue of the "Chicago Tribune" also reports that the current Chicago home sales market is fragile. This is as a result of large number of lengthy foreclosures process times, vacant homes, and low mortgages.

In any case, the year 2012 is still on course. We're yet to hit the middle of the year. Although the current Chicago market trends seem to be on the decrease, experts still hope the conditions will change. The housing market tends to be unstable, while financial uncertainty. The pendulum can swing to any side depending on the prevailing economic situations. There's hope for more investors into the Chicago real estate market. Prices for homes and other properties are expected to appreciate. The future still holds a lot a for the real estate market in the Chicago city.

Wednesday, June 20, 2012

Dubai's Real Estate - Some Latest Trends and Developments

What initially seemed to be a curse for Dubai's economy - an apparent shade of the ongoing worldwide recession - has recently started unfolding better avenues for property buyers and renters. While much of Dubai's fundamentals remains as it is, including trade and commerce and the recreation and hospitality sector consisting of the much famed leisure outlets and Dubai hotels, there has been a noticeable drop in the valuation of the freehold properties and the rentals across the region, hence giving the accommodation seekers an obvious edge over the real estate dealers.

People can easily move to those areas today they could have hardly even thought about a year ago. According to the latest figures, a vast over-supply dominates the freehold segment of Dubai's real estate currently, thus allowing the tenants to decide the areas and the kind of accommodation they might be willing to move into. Dubai has always had to cope with an ever-increasing demand for accommodation in various segments, including that in villas, apartments and Dubai hotels, and has been witnessing an over-supply in the freehold segment only recently.

Some of the areas to look around for staying and move in are Dubai Marina, Jumeirah Beach Residence, Jumeirah Lake Towers, Discovery Gardens, Springs, Arabian Ranches, Al Barsha, International City, Bur Dubai, Karama, Mirdif and Al Nahda. Jumeirah Beach Residence has been built over a 1.7 kilometer long stretch of Dubai Marina's coast. The township has a European ambiance to live in and easy access to five star Dubai hotels and eateries across The Walk. JBR has 40 towers - 36 residential and 4 hotels - to cater to the needs of about 10K tenants. There is no facility of showers or changing rooms across the beach and only electric kitchen appliances are made available to the tenants - a couple of negatives to be aware of.

The rest of Dubai Marina has much of the same lifestyle to share across its length and breadth, with the additional adage of a newly opened Metro station that one could easily walk down to catch periodic trains elsewhere. The marina has no dearth of recreational outlets and Dubai hotels of world class standard. Jumeirah Lake Towers - a cluster of 79 towers built alongside four artificial lakes - is yet another option for residing by Dubai Marina's neighborhood. JLT has a proximity to the Palm Jumeirah and Marina Mall and the facilities like private parking and 24-hour security. Besides, the nearest Metro station could be reached by the tenants easily, as in marina's case.

Among all the above mentioned localities, Discovery Gardens is perhaps the cheapest one in today's context. It has much open landscape and private parking, apart from the proximity to Ibn Battuta Mall, to make it sound habitable. There is a lot more to be looked around for elsewhere in the areas, such as Springs, Arabian Ranches, Al Barsha, International City, Bur Dubai, Karama, Mirdif and Al Nahda. They too will have access to recreational outlets and Dubai hotels of world class standard. Dubai's growth refuses to be tamed down irrespective of the worldwide recession and its shadow within. Even a slowdown will have something to cheer about, as this story about the changing scenario of Dubai's real estate suggests.

Friday, May 25, 2012

Expected Southwest Florida Real Estate Trends of 2011

Southwest Florida is one of the most beautiful and climatically inviting places in the US. A peninsular surrounded by blue clear seas on all sides, Florida has a warm balmy climate. Being a tropical sunny land, tourism and industry are both very active aspects of the State. In fact, this southern State of USA is one of the favorite retirement locations where people buy beach houses and suburban homes to enjoy peace and tranquility.

Southwest Florida real estate is understandably very expensive. With the population mostly coming from upper working class, people here have considerable spending capability. Some of the best Southwest Florida real estate is under the Great Fort Myers estates. One of the biggest planned living locations of the Sate; there are also available apartments for rent in Fort Myers. However, their resorts, villas and country homes are more in demand. With professional realty agents ensuring you the best homes for sale or rent, finding a place to stay in Florida for work or otherwise is easy.

Recent surveys have shown that the state of Florida is heading for a great year in 2011. There is going to be an expected increase of 3% in overall job growth. New construction businesses and the developed offices are going to have 27% increases in recruitment at all levels. The natural resources and mining industry is expecting a 5% increase, while the leisure and hospitality industry will be up by about 4%. After the recession of 2008, this will be a welcome development as 12% of jobless Floridians will now have new jobs and more are expected to migrate into the state!

With new opportunities in the all industries blooming, people are expecting better times in Florida. Relatively, there will be a major increase of population and urban infrastructure. All these will ensure that economics in the State become more dynamic and upscale than ever. More schools, colleges, hospitals, and public facilities are also speculated to be constructed fast. Urban and suburban transportation is also a priority sector for development.

But with the rise in employment and economic power comes some added aspects of pricing. Apartments for rent in Fort Myers may see up to 10% increase in their tariff. Southwest Florida real estate could experience up to 6% inflation. However, with more spendable money, sales are expected to increase!

Sandbill Homes online directory and services will find you the best South Florida real estate at the most affordable budgets.

Wednesday, May 9, 2012

Real Estate Trends 2010 and Outlook to 2011

Real Estate Trends in 2010 have followed a pattern that was expected: as mortgage rates and homes sales have dropped, inventories of unsold properties have risen. The inventory currently on the market is only a portion of a larger inventory of REO (Real Estate Owned) by banks, which is held back and released slowly over a period of time, in order not to cause an even greater decline in housing values.

As we approach the end of the year, trends of 2010 will continue into 2011, following the same general pattern, with a slow recovery expected towards the end of 2011.

Some speculations predicted that the recovery would have started towards the end of 2010, but with new problems in the international economic markets, it looked like we took a double dip into the current recession. However, economists state that a double dip recession is unlikely, although spending and investments in the established economies have been challenged by emerging economies, like India and China.

Real Estate Trends are following the larger economic picture: the mortgage crisis has indeed caused a lot of turmoil and scars, which have created a domino effect with high unemployment, low consumer spending, consumer credit slow down and weak housing markets.

The large number of homeowners, who have lost their house in foreclosure, are not going to buy another property in the near future, because of the impact of the foreclosure on their credit (banks will not even consider a mortgage for a borrower for 4 years, if he/she had a foreclosure, 3 years for FHA loans,) therefore there is a new population of renters.

Investors, who have access to capital, can acquire homes for 60 cents on the dollar or less, via short sales and REO. They in turn keep these properties as rentals and investments, waiting on an inevitable economic recovery and increase in values.

Other Real Estate Trends worth mention are in the arena of commercial properties: commercial properties have followed a different pattern than residential properties, holding on to the market value longer and only in this last year have started to lose their balance, as large mortgage notes have become due and refinancing has become harder. Some great deals are available in commercial investments, from larger apartment buildings to shopping centers.

This is definitely the time to buy and it will continue for another couple of years. Inventory in residential and now commercial properties is abundant, seller's contributions as allowed are more available and the Government (especially HUD) is providing grants and incentives not only to homeowners, but also investors, in an attempt to expedite the housing recovery.

Laura Al-Amery is a real estate investor and consultant with 23 years experience in several aspects of the real estate business. She has practiced real estate in Hawaii and Missouri, and presently lives in St Louis. She has hosted real estate seminars in St Louis for over 10 years, in real estate subjects like creative financing, building wealth with multi family buildings and short sales.

Tuesday, April 3, 2012

Six Real Estate Trends to Watch in 2011

When identifying real estate trends, you may find yourself a bit discouraged. The market making a comeback is contingent upon finding a solution to the foreclosure issue, which is keeping prices low and buyer confidence even lower. And according to a report published by Standard & Poor's, home prices will fall an additional 7 to 10 percent throughout 2011. But there are a few trends to watch in 2011 that brighten everyone's prospects.

1. McMansions are McOver
One of the biggest real estate trends seen lately has to do with taste and logistics. Not only are empty nest baby boomers leaving behind their high-maintenance properties for urban center lofts and apartments, but the younger generation of home-buyers doesn't want Mom and Dad's giant prefab home in the suburbs. They want smaller, vibrant, walk-able neighborhoods with community amenities like local shops and parks. This means larger homes could sit on the market unwanted for a very long time.

2. Home-buyers want longevity
In the past, a couple would buy a "starter home," and upgrade after a few years of investing equity. Now, a first time home-buyer is planning to stay in their home a minimum of 10 years. The home is a home in the original sense, not just the housing boom "investment" of years past. Repeat buyers are looking for 15 years or more in their next property. This is one of the real estate trends you can expect to see more of in 2011.

3. More Foreclosures Coming
While they slowed down in October thanks to the "robo-signing scandal," according to the Board of Governors of the Federal Reserve, there will be 2.25 million foreclosures in 2011 -- the same as 2010 -- and another 2 million in 2012.

4. Rates stay low while lending gets harder to come by
According to the Mortgage Bankers Associates, included in important real estate trends for 2011 is the expected increase of fixed mortgage rates to 5.1 percent by the end of the year. This is due in large part to the Federal Reserve buying $600 billion of Treasuries to keep interest rates low and boost economic growth. As great as that is for a buyer, the recently raised lending standards have made it harder to get financing. While some argue this is holding back the market recovery, others consider it a necessary evil. Over-extended buyers that were given loans exceeding their means by irresponsible lending companies caused much of the housing crisis. Tightening the standards is a logical backlash to this practice and it's dire consequences.

5. New construction stays low
The effect of the current market's real estate trends are felt nowhere harsher than in new construction. The combination of unemployment, plus an influx in inexpensive foreclosures and short sale properties means fewer new homes need to be built to accommodate demand. In 2009, only 550,000 new housing units were built, compared to 2.1 million units at the peak of the housing bubble in 2005. Unfortunately this could mean a housing shortage in the near future.

6. Cash is King
Just like last year, investors with the capital available have a major advantage with all the current real estate trends. So many banks are holding so many foreclosed properties that all-cash offers are frequently being accepted over higher offers involving loans. For a traditional homebuyer, this means all offers must be made as attractive as possible, including large down payments and often making an offer close to or above the asking price.

Lauren Roberts is an REO industry veteran and the founder of REO Maestro. Founded in 2001, Lauren's objectives and approach were very deliberate: to aggressively broaden the talents of her REO agent team by combining their expertise with systemic tracking, reporting, organization and automation. She partnered with Shupe Software Technologies whose progressive approach to software development naturally and seamlessly complimented Roberts' vast industry expertise. Inspired by overwhelming industry and peer demand, Roberts and Shupe Tech successfully launched REO Maestro to REO professionals nationwide. In 2010, the company changed its name to Realis as they welcomed even more advanced technologies to their product offering.