Enthusiasm About Real Estate Investment
Descripción
Housing booms are short and exciting but housing busts are long and painful. The worst is not over, prices are likely to fall further in many market in th following 5 years. Cities like Dallas and Houston that the boom bypassed will look good by comparison. Seattle and Raleign with job growth shall also do O.K. Cities like Detroit that are suffering economic contractions are the biggest losers. Cities like Los Angeles, San Diego, and Bay Area where prices are extremely high have begun to adjust. Cities like Miami, Las Vegas, and Phoenix which have a huge stock of unsold houses or condos are currently frozen. Many sellers are still asking for too much. It is tough for them to understand that real estate investment can lose big money just like the stock market. Advices to homeowners: If you need to sell, cut the price by an extreme amount to get buyer's interest. Otherwise, it probably means you will work yourself into some kind of corner in six months. Advices to home buyers: It is not the ideal time to buy or move up, even with the recent price declines. The inventory of existing homes are still increasing substantially. That backlog will take a long time, and a lot of price-cutting, to clear out. I will guess that prices nationally could fall 10% to 20 % from the end of 2007 to the end of 2008. The Federal Reserve is likely to help the market by cutting interest rates but banks are being required to toughen their standards for loans. We are looking at several years of weak home prices and no one is talking about real estate any more.
While the U.S. real estate market slows down, Shanghai, Singapore and Tokyo rank as the three most promising Asia Pacific cities in terms of real estate investment prospects, according to Emerging Trends in Real Estate® Asia Pacific 2008, just published by the Urban Land Institute. Nevada Real Estate Corp. was established 1n 1995 and is the largest Chinese real estae company in Las Vegas. In June 2002, an overseas office was opened in Shanghai, China. It specialized in selling and managing hig-rise condos which can overlook Hung-Pu River for overseas investors. Due to the increaseing demand for overseas rental property investment, our Shanghai Branch has also followed the U.S. Headquarters with the e-service system for out-of-country landlords, callled Global Online Property Managemnet System. Global Online Property Management System allows landlords access and view their personal investment porfolio via the Internet from anywhere they can hook-up to the Internet.
Keywords
shanghai real estate, beijing real estate, home for sale, residential, commercial, real estate market in US
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