The Real Story Behind National Real Estate News

Newspapers thrive catchy headlines that can sum up the drama of the day. But it’s important to read with a critical eye, especially when you see a blanket statement at the top of the page like “National Home Sales Plummet.” The headline looks good, and it’s likely to turn heads, but how true is it? It may be true on average in recent years that fewer homes are being sold across the United States, and at lower prices. But many large markets across the nation are doing well, or improving. Unfortunately nothing gets in the way of a good headline like subtlety, and those inconvenient subtleties have forced the media to cast a shadow over some very bright real estate stories.

One of those bright stories is the Kansas City, Missouri real estate market. Home sales here have been especially strong in recent years, and show no signs of slowing. The area’s strong economy is attracting new residents from across the nation, and home construction has risen to meet the demand for real estate. Kansas City’s central location on the U.S. map also makes it an ideal spot for corporate headquarters, with five Fortune 500 companies, and the privately owned Hallmark Cards, based here. Spread across more than 500 square miles, Kansas City offers a lot of room for expansion, and more than 150 attractive neighborhoods.

Kansas City is more than just an isolated success story – it’s good example of why the national real estate market appears more stalled than it really is. Home prices here didn’t skyrocket during the real estate boom of the early part of the decade, and were unaffected when the markets softened in other parts of the nation. Instead, local home prices have risen steadily through the boom and afterwards, making the area particularly attractive to investors.

While more expensive real estate markets such as Marin County California, and Montgomery County, Maryland, have slowed, many affordable markets, like Kansas City have thrived. The Kansas City example is mirrored on a larger scale in Detroit, Michigan, where home sales have risen nearly ten per cent annually in recent years. Other strong markets after the boom include Madison, Wisconsin, and Phoenix Arizona.

While it’s clear some real estate markets aren’t as strong as they were a few years ago, areas like Kansas City, and Detroit can show us how national average home values could fall while still being as strong as ever in many places. That’s something the newspaper headlines don’t always mention.

Dubai Real Estate News and Advice For Buyers, Sellers, and Agents

The development of new infrastructure goes on and a surplus in real estate is feared, but because of its popularity with investors around the world, buying will continue to rise.

Development Continues

Dubai, dubbed the “City of Gold”, and “City of the Future” with its stupefying architectural structures, remains to be the top choices for luxury and business tourism. Today, the mega and luxury development of futuristic, luxury buildings continues at a fast pace, and so is the growing number of attractive residential properties around the area. Dubai real estate looks promising, and more than ever, businesses and private individuals are looking for more properties to buy, with the purpose of having their investment yield benefits and other profitable advantages.

Works Both Ways

Buying Dubai real estate properties can be very simple. Knowing your preferences and what you require, along with having the right agents, will make it an easy transaction for you. It is also easier now for foreigners to own properties as the government have imposed easy regulations for property owners. If you want an immediate return of investment in terms of lease or resale, then it is wise to choose fully finished properties that are located within the central business area. Some developers are selling their properties straight to the clients. There being a huge market for Dubai real estate, it is very practical, helpful and convenient for developers or property owners and buyers to commission the services of agents. The agents make the best deals and ensure smooth transaction for both the seller and the buyer.

The Best Agents

Certified and specialized real estate agents bring the full potential of real estate properties. Being trained and knowledgeable in all aspects of each property they handle, they lead clients into buying the property. They can best deliver client’s preferences and advice each property’s suitability. Agents are also aggressive in terms of advertisement, using all known media forums and the latest technologies, be it local or international. Besides keeping you constantly updated on your transactions, they also give you sound advice on prevailing market prices and conditions. Overall, they are helpful and willing to assist you any way they can.

E- State Market Developments

UAE communities are well established and active internet researcher, every business rely on internet users for marketing and publicity, certified agents must take action with online community to increase targeted buyers and rentals of properties available in the e-state market.

How to Read Between the Lines of Real Estate News

We all need to stop, think and let our emotions subside. Real Estate articles and headlines continually press the housing bottom issue with catch phrases, buzz words and faulty property data from public records that stimulate irrational responses. But along with Real Estate being Emotional, it is Cyclical and Seasonal as well. As the public, it is our job to filter through the news that is being presented to us. But sometimes it gets tricky. Here are some tips on how to read between the lines of real estate.

Read the Entire Article: I know it sounds like common sense, but most readers fail to read an entire article and are only left with the impression of the headline and the first two paragraphs. Article headlines are deliberately written in a way to draw readers in, despite whether the headline makes any sense or not. Since most real estate articles are written like feature stories in a narrative manner, the real value of the story – or the nut graph – doesn’t appear until 3 or 4 paragraphs down. Usually, this is where the headline is either proven to be false, exaggerated or irrelevant.

Watch For Buzz Words: When words like “soar” “plunge” and “boom” are used, watch out. Look at the data being presented (if there is any) and determine if these words hold any merit. If home sales had an uptick of 1% month-over-month, in a seasonal cycle with an $8,000 tax credit incentive, is “soar” the word to be using? The same goes with economists “forecast” “predictions” and “projections”. If construction was projected to drop 17% and it only dropped 15%, we are not doing “better than expected.” All of these cases are subjective. Don’t get overwhelmed with emotional expressions and confusing jargon. If the validity of the writing is in question, then the validity of the data can be questioned as well.

Use More Than One Source: If an article is making claims without multiple accurate and sufficient sources of data to support it, counter the report with another of the same topic. Usually you will find two different spins on the same data reports everyday. Our recent article on the Real Estate Mania of the Case-Shiller Index touched on this situation. As the old saying goes, there are three sides to a story; one side and the opposing side, with the Truth lying somewhere nestled in the middle.

Do Your Own Research: What good is it to receive information if we don’t bother to determine our own interpretation? People share stories to get another viewpoint. If you spit out verbatim to a person sharing a story or experience, you haven’t added any value to their perspective. After viewing two opposing viewpoints, search the web for the direct source of data. See how they spin it, look closely at that data and ask yourself questions for clarity. If the clarity you’re looking for can’t be achieved, then something is wrong.

See What Others Think: Individuals are smart, it’s only People who suffer from lack of reasoning and understanding. With the surge of Social Media, it is easier than ever to see what other people think on a particular situation. Many times, a bogus article is flagged right in the comment section following it. Gather the opinions of your peers in the comments and scour the social media networks for recent conversations.

As we head into the fall and winter seasons of Real Estate, it is important to decipher the news being fed to us everyday. Even prominent news sources can’t be taken for face value. Stop, think and let the emotions subside.

Spring Real Estate News

Looking back now as we approach the end of April, this was an active month for the real estate scene. Here are some of the highlights of the April housing scene – some good, some not so good:

Short Term Interest Rates Exceed Long Term:

Finally for the first time in decades, it is cheaper to lock into a long term mortgage rate. Imagine that – mortgage financing that helps the buyer!

According to the latest results of the Primary Mortgage Market Survey (PMMS) released by Freddie Mac, the 30-year fixed-rate has dropped down to an average of 4.80 percent. Same time last year, the rate was 6.03 percent.

A one-year Treasury-indexed adjustable-rate mortgage (ARMs) averaged at 4.82 percent. Same time last year, the same mortgage was 5.29 percent.

A five-year Treasury-indexed hybrid ARM averaged at 4.85 percent, down from 5.68 percent last year, and the lowest rated since January 2005.

House Prices Rise and Fall

For the months of January and February, house prices rose consecutively. The last time this happened was in April 2007. Then March came along and the median home price declined by 12% from the previous year.

Record Price Cuts:

The famous Bailey Mansion in New York (previously owned by circus owner James Bailey), has dropped in price from $10 million to $6.5 million in less than 6 months.

Washington’s most expensive home listing, Evermay, has dropped its asking price from $49 million to $39 million. This 3.58-acre, 12,000 square foot Georgian Revival estate has been on the market since September.

Probably the largest price reduction for a piece of U.S. real estate, the Greenwich, Conn. mansion formerly owned by the late Leona Helmsley can be had for only $75 million. This is a far cry from the original asking price of $125 million.

Foreclosures See Record Highs:

After seeing foreclosure rates dip in January, they shot up by 44 percent in March, increasing to record high 175,199. Apparently there is still a backlog of unprocessed claims that will be appearing in the next couple of months as lenders scramble to deal with the volume.

Freddie Mac Executive Found Dead:

David B. Kellermann, the acting CEO at Freddie Mac committed suicide, leaving behind his wife and daughter. Sadly, he was only one of the many victims resulting from this global financial crisis.

Jumbo Loans More Plentiful

It appeared jumbo loans had fallen by the wayside, but now lenders are looking at these loans as a new opportunity to make money, and they are definitely making a comeback. Among the many banks offering them, ING has a 30-year fixed rate loan running in the upper 5% range.

The Mortgage Reform Bill

This much awaited bill was introduced in early April in an effort to change the way lenders do business and encourage no frill mortgages with lengthy terms. It’s a shame this bill wasn’t introduced 7 years ago, much of the housing crisis may have been averted.

Incidences of Real Estate Fraud Spikes

Our vulnerable market has created a perfect climate for real estate fraud and other types of scams. Following right on the heels of Bernie Madoff, who was convicted of committing the largest investor fraud by a single person, spring has sprung with a new collection of real estate related “tom foolery”.

In early April twenty-four people in San Diego were charged with racketeering in an elaborate mortgage scheme. In Dallas, the Stanford Financial Group was recently accused of selling certificates of deposit that were never invested, in addition to numerous other fraud allegations. A Twin Cities realtor was recently convicted of mortgage fraud. A Georgia attorney recently pleaded guilty to a $28 million investment fraud scheme.

The seemingly endless flow goes on, touching on every aspect of the real estate and investment industry, from appraisers, to real estate agents, attorneys, investment brokers, mortgage brokers, and bank managers.

Where to Get the Real Estate News You Need

For anyone who is in the real estate market, they know that a large factor of success comes from having the most updated knowledge on both a local and national scale. While seasoned real estate professionals know all the places they need to go for detailed real estate news in their local markets, what about you? Fortunately for you, you will learn not only how to get the real details you need in your local market, but you will also learn how to do it quicker and more effectively than your competition.

Fortunately for you, you can dramatically save both on time and money for getting the real estate information you truly need by taking advantage of current technologies. As technology is constantly evolving, it is becoming not only easier, but much faster to get all the information you need to stay on top of your job and the competition as a real estate professional.

One of the newest trends that have come is the whole idea of centralized services. Simply put, a centralized service is one where you can get all the real estate news you need from one single source versus having to scour the Internet. Unfortunately, a lot of these kinds of sources will charge you some sort of fee to have this convenience at your fingertips.

Because of this, it can be very difficult for you to figure out what you get from these centralized services without paying their asking price.

Luckily, there is a new emergence of new types of real estate news services that not only provide you with news for free, but they also break it down by state to help give you a better idea of what your local news sources are writing about in the industry.

This allows you to read about the news from virtually every online news publication in that state, thus giving you the details that can only be acquired from people who actually live in the area. This with the combination of being completely free allows you to quickly and effectively get all the news you need in your local market.

So, now that you know about completely free and centralized resources to get all the news in your local market, the only other thing you have to do is dedicate time on a daily basis to get caught up with everything. By having all this information at your fingertips, not only will you be able to adjust your promotional strategies according to the market, but you will also impress your clients, which can lead to a higher amount of word of mouth referrals.

Chicago Real Estate News – 2010 Market Trends

In Chicago home prices are down, home sales are up but foreclosures continue to flood onto the market even as the inventory of unsold homes is clearing. What does this housing market trend and the Chicago real estate news mean for those looking to buy or sell their home this year?

In Chicago home sales were up more than 71.6 percent in November 2009 over the same period last year, says the Illinois Association of Realtors. Median Chicago home prices, however, have fallen 10.1 percent in the past year, according to the Standard & Poor’s/Case-Shiller home price index. This paints a very mixed picture of the health and recovery of the residential Chicago housing market.

The first thing to remember about the Chicago real estate market is that all of these figures are year-over-year, meaning they are compared to the same period of the previous year, which is when the recession hit hardest. The current housing market trend in Chicago show sales of existing homes were at record lows and sellers were holding out for prices comparable to the height of the housing bubble. In Chicago, specifically, many condo developments were still pouring into the market with new properties. Thousands of homes went into foreclosure or were listed as short sales at greatly reduced prices to avoid foreclosure. This all contributed to driving home prices down.

However, the double digit rise in Chicago area home sales in November marked the fifth consecutive month of rising home sales. This end of the year push was in part due to the original November deadline for the Federal Housing Tax Credit. As a result, rising sales have cleared out most of the inventory of distressed properties, which was the driving force behind falling home prices.

“Until those foreclosed properties work their way through the system we won’t have a price recovery that will match the sales recovery. Most people are seeing the foreclosure peak occurring in 2010,” states economist Geoff Hewings, director of the University of Illinois Regional Economics Applications Laboratory (REAL). This, combined with the annual rise in home sales in the spring, should pave the way for a rise in Chicago house prices in the first half of 2010.

Other influences on housing market trends are the continued low interest rates and the extension of the Federal Housing Tax Credit until April 30, 2010. The tax credit has expanded to include current homeowners and those with a higher income than in the original First-time Homebuyer Tax Credit. Many expect interest rates to rise as soon as signs of recovery are evident in the housing markets, but probably not until the second half of 2010.

The real Chicago real estate news is that, if these indicators are correct, both home prices and sales volume will rise in the early part of this year. However, most analysts agree and the national housing market trend indicates that improvements in the residential Chicago housing market will taper off over the summer and probably fall again in the third and fourth quarters of 2010.

Bottom line: Sellers can expect the best Chicago house prices and most buyer interest in their homes in the first half of 2010, before April 30. Though it is still a buyer’s market, if you plan to sell anytime in 2010, the spring is the best opportunity. For home buyers, based on Chicago housing market trends, expect to see a wealth of new properties enter the market earlier than usual this spring. This will increase the selection on the market as well as the competition.

Tulum Real Estate News – Bidding For Airport Construction Advances

One of the most important factors affecting the potential for increases for prices of Mexico land for sale in the Tulum real estate market has been the upcoming international airport. The most recent progress of this airport has been the upcoming announcement of the company which will construct and operate the airport.

Specifically, in early February, Mexico’s federal agency to ensure fair competitiveness, COFECO, voted not to allow ASUR (Grupo Aeroportuario del Sureste SAB de CV) from participating in the bidding process. The reason for the decision is that this same company operates the Cancun International Airport, about 2 hours away, which is the only other major airport easily accessible from the Riviera, which stretches from Tulum to Cancun, including Playa del Carmen.

The move comes to ensure competitiveness between the two airports, offering the best prices to tourists and residents of Tulum and nearby areas. This fact is a benefit for anyone buying Tulum real estate for the purpose of retirement, vacationing or relocating to Mexico for any other reason.

On the other hand, Tulum land for sale is likely to benefit either way. Existing land developments along the Tulum-Coba highway are already seeing future benefits in their planning stages; recently, a new bypass was announced which would provide a highway route around the town center area, through which the current highway passes; this bypass will provide the access to the airport as well, which is located very near to its intersection with the Tulum-Coba highway. When this bypass arrives, residents of homes they build on their land will have easier access to Playa del Carmen, Cancun and the future airport. They can also expect to see prices rising – even more so when as the airport itself advances through planning stages.

ASUR reported that they would begin an appeal process, pointing out that they operate at very accessible prices, with Cancun Airport costing an average 134 pesos (12 dollars) per passenger in airport fees. This fee is set every five years by Mexico’s federal Ministry of Communication and Transportation, and therefore would not be affected by competitiveness, claims ASUR.

The capacity of the Cancun airport is currently 30 million passengers, and the new airport in Tulum would be another 15 million. ASUR has invested just under a billion dollars since the company’s privatization, to modernize and expand the structure of the nine airports that manages and, in particular, in the Cancun airport has received well over half that amount. For two consecutive years Airport Council International (ACI) has named the Cancun Airport as “the best airport in Latin America and the third best in the world.”

Whether ASUR is permitted to compete for the contract or not, those who invest in Tulum can expect to see good results in their return. The decision for the winner of the contract is expected this spring.

Big Real Estate News: The Press Says the Sky is Falling? Is that Really True?

Well, today the press had their day – their day to bash the housing market! Over my bowl of cereal this morning, I was met first with the headlines atop The Washington Times front page – “Home prices fall; sales plummet: South spared, stock market battered on news.” After reading through this and a brief respite with the world news to catch up on the latest on Iranian nuclear technology, Middle East politics, and various other depressing news stories, I found the business section of The Washington Post which reported on the “Signs of a Buyer’s Market: Latest Figures Show Sales Dropping, Inventory Rising for Existing Homes.” As a real estate professional, I felt that it was my job to dissect these articles and somewhat sensationalized headlines to offer the anxious sellers and buyers, and those contemplating entering the housing market, a dose of reality.

Let me start out by saying that YES, the real estate market has slowed nationwide, and in Northern Virginia. There is a very significant increase in inventory and fewer sales. But, think about what we are comparing. Last year and 2004 are the best housing sales numbers ever! However, even with existing home sales down 11% from last year to a projected 6.33 million for the year – 2006 will still be the 3rd best year for house sales EVER. Yes, the market has slowed, but the facts remain that interest rates are still very low, the economy is healthy, and in the Northern Virginia area, jobs are plentiful and high-paying. It is not time to panic… the real estate market is becoming… (drumroll please) NORMAL! It may take a bit longer to sell a home, and sellers may not get the high price that their neighbors got for their house last year, but if they’ve owned their house for more than a year or two, they are still making a significant profit. Buyers – you have an unprecedented opportunity that has not been available for the last several years to find a home at a reasonable price without competing against 10 other buyers for the same property. If you’ve been on the fence about buying a home, or waiting for a good opportunity – now is the time!

Newspapers are in the business of selling more newspapers. Photos of 10 real estate signs on the same corner, and dramatic graphs, and front page reports that say “Home prices fall; sales plummet” play on emotions and help move the newspapers off the racks. However, please read a little deeper. Realtors are in the business of selling homes in good times and in bad times. We’re in a normal real estate market, and a normal real estate cycle. The sky is not falling. Realtors see beyond the statistics to what is happening in the communities in which they live and serve. Let a real estate professional educate you as to what is really going on in Northern Virginia real estate.

Be Updated With Property News and Real Estate News

A property investor can achieve great success by keeping himself updated with property news and real estate news. Real sector is nowadays booming with increased transactions in the property in the day to day life. The main reason behind this is the need of the property and its increasing value.

Employees of real estate such as real estate agents, brokers, dealers, property dealers and brokers carefully monitor and handle transactions in the property field. With their expertise, these people can create accurate transactions.

Before purchasing any property, a property investor should carefully study and do research about that particular property. If you are one of the investors, you can also refer to a property magazine which can provide you useful tips which you can use to examine an investment. This magazine contains information about the best news of the business world such as features, views and opinions of experienced investors.

Few providers of real estate news and property news even offer a money-back guarantee if at a given time you don’t earn the profit promised by this news. Nevertheless, these subscriptions are offered for the short contract period and prove cost-effective for the investors.

If you are in real estate business, then you can make a newsletter. To make a newsletter is a tough task as it requires excellent writing skills and right materials to make it more useful and effective. This letter also requires expertise in marketing skills to know what and when to sell your products.

For new investors, who are planning to invest in a real estate market and property market can go through following tips to make their investment a worthy one. One of the most important tips for the first-time property investors is to stay updated with real estate news and property news.

Following are some tips for first time property investor:

• Be specific – Kind of property you want to invest in. Being specific about the kind of property will help in making your search refine and narrow.

• Do some research and study – It is important to do some research before investing in any kind of property. You should study property values and how they change, popular properties and even property values when you are offering to purchase.

• Make sure that your finances are in order – Even if it seems obvious, it is a common mistake done by first-time investors. By making sure that your finances are in order before investing as it would refine your budget and you would be in a better position to make an offer on a property when you find one that is liked by you.

Real Estate News – The Good, the Bad, and the Pretty

As most people expected, the Federal Reserve did cut interest rates in September, but that doesn’t necessarily mean that mortgage rates are going down, too, since the two rates aren’t inextricably tied together. That was made apparent back in 2003, when the Fed adjusted rates thirteen times in a six-month period–eight times down and five times up–without a noticeable effect on mortgage rates.

However, since consumers don’t generally understand that, they tend to get suspicious of lenders when mortgage rates don’t go down after a Fed rate cut. The simple fact is that mortgage rates fall and rise according to how investors feel about long-term inflation. If investors believe that inflation will be rising, mortgage rates rise in response.

According to, the average fixed rate on a 30-year mortgage in mid-July was 6.82%. As of mid-September, the rate has dropped to 6.32%. It turns out that those numbers exactly mirror the half-point reduction the Fed just put into place, but it’s still only a coincidence, because interest rates are really reacting to America’s natural market forces. When the Fed cuts rates, it’s really reacting to declining consumer interest rates within the economy, and not the other way around, as most people believe.

The Fed rate also won’t do anything concrete to stop the fall of home prices in most areas of the country. Most experts predict that home prices will continue to fall, fewer new homes will be built, and existing home sales will continue to be relatively slow for the foreseeable future.

The people in the most difficult situation during the current slowdown are homeowners who got into their houses with little down and took out an adjustable rate mortgage. They have recently been experiencing a double whammy, seeing their interest rate increasing while the value of their homes has gone down. That means their payments have gone significantly higher, but they can’t refinance their homes to make their payments more manageable.

However, the real estate news isn’t all bad. Since mortgage rates are still relatively low and home prices have been falling, more and more first-time buyers are finding themselves in a position to buy their first homes. That number includes people who have been renting while they’ve been waiting for just such a price correction in the real estate market. For them, the coming months may actually be the best time in years for them to finally be able to get out of the rent cycle and into homes of their own, which they can make pretty!