Wednesday, April 30, 2008
MIAMI - Housing prices in Miami are coming down quickly, a real estate broker said "I sit on the computer everyday waiting for a new listing. There isn't much coming up but a lot going down - lot of homes on the market are going down."The word "price reduction" is almost standard in every sign outside the yards, making it nearly impossible to judge what is a good deal, especially when you see how much prices are dropping.
At the peak of real estate market in the year 2004, home values rose on average $1,000 a week. So far this year the market is in a plunge and prices are dropping $1250 a week. A realtor blames the credit for the steady drop in price and banks now demand 20 to 30 percent down. He added "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
At the peak of real estate market in the year 2004, home values rose on average $1,000 a week. So far this year the market is in a plunge and prices are dropping $1250 a week. A realtor blames the credit for the steady drop in price and banks now demand 20 to 30 percent down. He added "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
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posted by Real Estate Investing @ 5:43 AM
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Thursday, April 24, 2008
The Manhattan real estate now continues to climb greater heights due to its wealthy buyers, limited supply of homes, strong job market and weak dollars which is roping in many foreign buyers. Real estate in cities such as San Francisco and Seattle continues to go up. During the first quarter of the year 2008; the median price for a Manhattan house went up by 18 percent, to $872,000, when compared with the same period in 2007.
Based on a repot from a Web portal that was released on April 17th; The median price for all of New York City that includes much weaker middle-class neighborhoods in the Brooklyn, Bronx, Staten Island and Queens rose up to 4 percent in the first quarter, to $535,000. Brighter spots in real estate can also be seen in Charlotte, N.C. and Austin, Texas.
Based on a repot from a Web portal that was released on April 17th; The median price for all of New York City that includes much weaker middle-class neighborhoods in the Brooklyn, Bronx, Staten Island and Queens rose up to 4 percent in the first quarter, to $535,000. Brighter spots in real estate can also be seen in Charlotte, N.C. and Austin, Texas.
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posted by Real Estate Investing @ 11:56 PM
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