Home Prices May Decline over the Next Year

As America's economy begins to cool, a number of economists have begun to predict only modest gains in the prices of single-family homes during the next year. The consensus is that home prices will rise between 3 and 4%, which is a respectable increase, but well below the 10% nationwide average over the past five years.

Ironically, the biggest slowdowns are likely to take place in the areas of the country that have seen the hottest real estate markets over that five-year period, including New York, Los Angeles, and Las Vegas. However, the real estate price slowdown is expected to reach many other parts of the country over the course of the next year, as well.

In an interesting twist, a number of real estate markets that have been slow over the past five years will begin to see upturns as the affordability of their home prices begins to catch the eye of buyers unwilling to pay the rapidly rising prices they see in other areas. In fact, a number of the areas that are predicted to see the most rapid price rises may surprise you. For instance, five of the top ten cities are located in Washington State, led by Wenatchee, which is expected to see a 16% gain over the next year. The nation's fast-rising real estate prices are expected to occur in Panama City, Florida, at 21%. Surprisingly, El Centro is the only California city listed among the top ten markets, which should raise a number of eyebrows.

Those double-digit increases are again respectable, but nowhere near the 20% average increase for America's top ten fastest rising home prices over the past five years.

The other four Washington cities and their rates of increase are: Mount Vernon (14%), Yakima (13%), Olympia (13%), and Spokane (12%). Two other Florida cities made the top ten list: Lakeland (14%) and Ocala (13%). Rounding out the top ten was Flagstaff, Arizona (12%).

Some areas of the country that have been quite hot over the past several years may actually begin to experience price declines, such as Santa Barbara, California, which may see a 3% decrease in its average home price. Las Vegas may also experience a similar price decline over the next year.

The slowest gaining areas of the country over the past five years have been in the Midwest and South, and especially in Ohio and Indiana, which contributed five of the slowest American real estate markets during the period from 2001-2005. For instance, Lafayette, Indiana, averaged just 2.3% annually over that time, which represented an increase of only 10% of the gains experienced by the nation's hottest real estate markets. The largest city among the bottom ten markets was Memphis, Tennessee, according to the Census Bureau, with a population of about 700,000.

Whatever the statistics above stated, it should be pointed out that many successful investors make a lot of money in the those cities labeled "the bottom ten." No matter what happens in the home market, smart investors know how to make money in real estate.

All in all, real estate prices should rise somewhat, unless you happen to live in one of those areas that has been red hot since 2001, but don't expect to see the spectacular increases you've seen over the past five years.

Copyright © 2006 Jeanette J. Fisher

Learn new ways make money investing in real estate or how to sell your home in a buyer's market. Get the Design Psychology edge to fix houses for a quick and top-dollar sale. Author Jeanette Fisher offers free real estate investing teleseminars and free ebook, The Truth about Making Money Flipping Houses at http://www.doghousetodollhousefordollars.com

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New Housing and Planning Delivery Grant

As the report came that Ministers have formally begun consultations on a new housing and planning delivery grant (HPDG) in line with the recommendations suggested by the Barker review of housing supply the prices seem to be roaring in Sussex Farmland.

The news came when Farmland in Sussex are being sold by different Land Investment Companies and the government has already made it clear that this funding would be in addition to local infrastructure investment, give local authorities the flexibility to invest in their area and allow them to keep additional council tax receipts for new homes. Sussex Farmland is known for its closeness to nature and old buildings.

Seeing this the prices of the Sussex Farmlands are set to go higher and this leaves the investors with a dilemma of whether to invest in more plots of land, sell it or hold the piece of land so as to gain maximum.

A consultation document just published by the Department for Communities and Local Government (DCLG) said the measure should:

- Strengthen the incentive for local authorities to respond to local housing pressures.

- Support increased housing delivery to meet local needs.

- Encourage local authorities to become very actively involved in the delivery of new housing.

- Return the benefits of growth to the community through new funding streams.

- Incentivise efficient and effective planning procedures.

The government's aim is that the housing incentive element would be awarded to local planning authorities and urban development corporations (UDCs) and paid starting in 2008 when the existing PDG regime is due to end.

The author is a Land Expert based in the UK.

Chicago Real Estate Appraisal

The first thing to do before selling your real estate property or buying one is to get an appraisal. This is essential in all situations. Whether you are a first time seller or a savvy real estate investor, you need to get your property appraised before you put it on the market.

Real estate appraisal means determining a piece of property's monetary equivalent based on its highest and best use value. A real property's value differs in many ways: market value, value-in-use, insurable value and investment value.

In order to optimize the sale of your property and get every cent you deserve, refer to a reliable appraiser. An accurate Chicago real estate appraisal is important for loan financing, real estate tax and financial planning.

The real value of property is not in its physical appearance but its use. For example, a certain area of land may be given its highest and best value as a commercial lot rather than as a residential property. So if you are looking for a place for your family, it would be best to opt for real estate labeled as residential. For one, dwelling in a commercial space may not be legal. And two, most commercial spaces are more expensive than residential areas.

So to be on the safe side, acquire a Chicago real estate appraisal before you take action. There are plenty of appraisal companies all over the Chicago area that will put you in touch with qualified appraisers. A quick visit to any appraisal company is all you need to get a Chicago real estate appraisal.

Protect your investment with a Chicago real estate appraisal. Whether your property is a 2-room apartment or a sprawling mansion, a log cabin in the mountains or a high-rise condo-you should get an appraisal before you put it on the market.

Chicago Real Estate provides detailed information on Chicago Real Estate, Chicago Commercial Real Estate, Chicago Suburb Real Estate, Chicago Real Estate Developments and more. Chicago Real Estate is affiliated with Atlanta Commercial Real Estate.

Home Sales Likely To Level Out

According to the National Association of Realtors, home sales are likely to level out during the next few months.

The Pending Home Sales Index indicates sales that sill be finalized within the next couple of months. Based on the contracts signed in July, the PHSI is down 7.0% for the month. On a year-to-year basis, the index is down 16%.

An index of 100 is the average level of contract activity during 2001 -- the first year of the index. July's index was 105.6.

"In looking at year-to-year comparisons, the pending home sales index has been very close in predicting the actual pace of home sales," NAR chief economist David Lereah said.

"Based on recent changes from a year ago, the index shows existing-home sales should continue to ease after a stronger-than-expected decline in July, but are likely to flatten in the months ahead."

Lereah continued to say that psychological factors could be attributing to slowing July home sales.

"We've never seen a general decline in the housing market against a healthy economic backdrop where jobs are being created, the economy is growing and interest rates are favorable," he explained.

"Pyschological factors are causing some buyers to remain on the sidelines, waiting for prices to stabilize or for more favorable news about the market and the economy. Contributing to this hesitency is a lot of negative news stories, but in the end we believe that underlying market fundamentals will prevail."

The PHSI for the West saw a decrease of 5.5% for the month and 20.3% for the year. The South experienced a decline of 6.4% for the month and 11.3% for the year. The Northeast PHSI dropped 7.7% for the month and 15.5% for th year. The Midwest index fell by 9.0% for the month and 20.1% for the year.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

Brokers or Lenders ? Which Do You Want for Your Real Estate Mortgage?

A mortgage is a mortgage is a mortgage. NOT! Not only do mortgages differ between lenders, but they also differ greatly by the lenders, themselves. There are two types of real estate originators ? brokers and loan officers.

Brokers generally are self-employed professionals, who work to secure a real estate loan for you. They work through a variety of lenders and earn a fee for the transaction. Most of the mortgage lenders who advertise on the Internet are brokers.

Loan officers are employees of a bank, credit union, or other lending institution, such as a mortgage company. They sell and process mortgages and other loans only for their employers. They are usually local and in a physical location.

There are advantages and disadvantages in using both brokers and loan officers for your real estate purchase, so you need to shop for the one that is right for you and your particular circumstance.

Brokers

The advantages to using a mortgage broker for your real estate purchase are many. Usually, the better deal they get for you, the buyer, the more they are paid on the transaction ? a big plus for you. If your local bank, mortgage company, or credit union has refused you a loan, a mortgage broker may be able to find a lender, even if you have bad credit ? just expect to pay a higher interest rate. If your real estate is unique or commercial property, using a mortgage broker to secure a loan is at times easier and faster.

One downside of using a mortgage broker is that your mortgage loan will be sold to another lender immediately after closing. Another is that brokers choose to do either non-conforming loans, which are higher risk and usually higher interest rates, or conforming loans. This limits your loan options. Brokers do not have to disclose a ?good faith? estimate on what closing costs will be, nor are they regulated by the Fair Credit Act. Additionally, they seldom have a physical office with employees offering you face-to-face customer service, and they generally are in another town or state than where your real estate is located. This means they may not understand the local market in which you purchased your real estate. Important issues may arise from the real estate classifications and terms used by your appraiser, for example.

Loan Officers

Though loan officers offer a variety in the types of loans available, you are limited to only those products offered by one institution. Usually a local institution, the loan officer will be familiar with all local regulations and issues will not arise over lack of knowledge in local market terminology.

Banks and Mortgage Companies

Bank and mortgage company loan officers will give you face-to-face customer services, at least before the closing. Like brokers, banks have the option of selling real estate loans on the secondary market. Some banks sell only low-end mortgages or those that require too much servicing with little return. Some sell the loan but keep the servicing portion, making it appear that your mortgage continues to be owned by the bank or mortgage company. They are required, however, to tell you during the initial paperwork if your mortgage may be sold. I suggest you ask before you ever get to that point, if this is a deal breaker for you.

Bank and mortgage company loan officers are licensed and must meet certain criteria. They have more criteria that you must meet, as well, in order to secure a loan (banks usually require the most). Many real estate buyers are refused mortgage loans by these institutions. Both banks and mortgage companies generally do offer better rates and terms. They also must disclose a good faith estimate on what closing costs will be, and they are regulated and audited under the Fair Credit Act.

Credit Unions

You must be a member of a credit union to apply for a loan with them. Many credit unions do not offer real estate loans. The major advantage of securing a loan from a credit union is that they pass on only actual costs of the loan to you ? no broker fees or commissions. They also never sell their loans on the secondary market, they always are local, and give you continuing face-to-face customer service.

What to Do

The time to begin looking for a mortgage lender is before you begin looking at real estate. Ask family and friends for referrals, as well as their experience with the real estate lender. Ask your real estate agent for referrals. Then, contact each prospective lender and ask questions ? lots of questions! Compare interest rates, terms, after the closing mortgage sale policies, and what criteria do they require that you meet in order to qualify for a real estate loan.

If you are a residential real estate buyer, consider getting pre-approved for a loan. You will know exactly what you can afford to buy, which usually turns out to be much more than you expect.

Spend as much time shopping for a mortgage lender as you will for your real estate. The deal you get can save or cost you thousands or even millions over the life of the mortgage. Get the best deal possible, as well as the right lender for your real estate purchase.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Vote No on Proposition 90 In California

Do you live in a Mobile Home Park and rent a mobile home? Do you want your rent gauging stopped? Did you know that Rent Control Ordinances and the Mobile Home Residency Law could be lost if the initiative passes.

We the people that live in Mobile Home Parks must all unite and defeat Proposition 90. If we do not defeat Proposition 90, we the owners of our Mobile Homes are in a world of trouble.

We could lose our homes.

For more information on Proposition 90 - Go to Californians Against the Taxpayer Trap =>http://noprop90.com/facts/

There will not be any rent control and the park owners can raise the rent anytime, and any amount.

We the Mobile Home owners must speak out. Have meetings in your own individual park and discuss this matter. Make sure everybody in your park votes. If there are home owners who do not drive set up transportation for these people to get to the poles or make sure there book is filled out ahead of time and mailed.

Every vote counts:

We are the people Proposition 90 will affect. We must band together park to park and vote NO, on Proposition 90.

Thank you for reading my article. Please feel free to read my other numerous articles.

Copyright Linda E. Meckler 2006

Linda is the author of her first book, ?Ghost Kids Trilogy.? Christy, 12 and her Brother Brad, 16 moves into an old house on top of a mountain and meet two Ghost Kids. Become involved with all the characters and all the adventure and mystery.

Then we have a mysterious, magical Blue Vase where Uncle Charlie the villain is trapped. He wants out of the Blue Vase and exchange he will tell Christy and Brad where Pirates? Treasure is Hidden.

Take a walk with Christy and Brad down a dark hall hunting for Pirates? Treasure. You will think were you there right there with them.

Love, Family Values and Charity burst off the pages.

4 E books to be added to my website soon. How To Appeal Medical Bills - Appeal and Collection Letters for Medical Providers - Boost Your Self Esteem and Blosssom - Computers Cause Pain. You can purchase Love My Hand Pad on my website www.lmeckler.com

Check out my website http://www.lmeckler.com

Get Ready to Shop for Foreclosures

Decent and value-for-money property is on top of everyone's priority. May it be out of sheer necessity (in the case of newlyweds) or as an investment or both, a house remains to be one significant and indispensable property. Those who are planning to purchase the proverbial dream house have several options other than buying the first property offered to them. If buyers are not challenged with a strict budget, then they can splurge by having their houses custom-made or by scouting for the house of their fancy in real estate magazines or websites. To be honest, there's no thrill in shopping for a house if the buyers have more than enough money to buy it. Indeed, it is much more exciting to look for a house if there's a certain budget. It's very much like shopping in Saks Fifth Avenue and flea markets. Shopping in flea markets packs much adventure and surprise because you're in for the thrill of buying something of great worth for a dirt-cheap price. The same goes with buying foreclosures property. Scouting for good foreclosures houses or buildings entails patience and endurance, but in the end, it's all worth it.

Experts in the field of home buying advise consumers to explore the possibilities of purchasing foreclosures. This is the general term for properties, which are used as payment assurance for debt or mortgage and given up by the original owners as payment for the lender. It is also possible that the owners failed to pay the mortgage installment set by the lender. The latter may be an individual, bank, or cooperative. After the mortgaged property is foreclosed, the lender often declares that the property's on sale by publishing it on dailies or public newsletters. Buyers should have a nose for some great properties at stake. The beauty of buying foreclosed properties is that it is usually much cheaper than brand new ones or those sold by real estate agents.

Once a potential buyer spots a foreclosures property, he should do his assignment immediately since there's a big chance others are also interested in that same structure (especially if it's cheap and in good condition). The buyer should conduct research and ocular inspection of the structure to personally find out if it needs minor refurbishing or major renovation. It is also wise to check the going rates for real property in the specific area. This gives the buyer an idea if the structure is really sold for a lower price or not. While a foreclosures property may seem like a good buy at first, it should be given a benefit of the doubt. Buyers should do the necessary legwork to ensure he is really purchasing a gem.

For more valuable information on Foreclosures, please visit http://www.miamiforeclosures.com