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Is It The Right Time To Buy A Property

Published on June 10th, 2009.

Is It The Right Time To Buy A Property
Till two years back, no one really imagined that property prices could decline so much That time it seemed almost unbelievable that realtors could actually offer so many discounts and freebies on properties But it has finally come true . .As there has been an immense decline in demand for property among buyers, realtors are taking all kinds of measure to create a surge in demand Big realtors are offering price cuts and discounts on properties and small and medium sized developers are offering freebies along with properties . . .Recently, DLF announced 20% price cuts in Gurgaon housing projects The company announced this move discourage existing buyers from defaulting on payment and induce new buying Not only this, the company has also cut prices in Bangalore, Chennai and Hyderabad by almost 20% In Bangalore, prices have been reduced to Rs 1, 850 per sq ft from Rs 2, 750 per sq ft . .While price cuts have been announced by biggies in the market, other developers are offering unusual freebies like a car free with a house For instance, RDB Developers in Kolkata has made a recent offer of giving a Nano free with its new housing project The company has decided to give the car ‘free’ with a flat for its first 50 buyers The company has booked around 50 Nano cars with Tata Motors for giving it free with flats in one of its residential projects in Sonarpur, South 24-Parganas Another realtor in Kolkata took a similar step and is offering free car space with flats . .Besides the developers, government is taking equal interest in boosting the demand for housing Not only they have declined interest rates but also prices by 10% India’s biggest lenders such as State Bank of India (SBI), HDFC Ltd , LIC Housing Finance, etc have reduced their loan interest rates . .With property prices falling and with such enticements being given to buyers, is it the right time to buy a property or not? . .As per experts, it is actually not .Contrary to conventional wisdom, experts are of the view that this may not be the right time to invest in residential real estate market Their advice is for both the first and second-time home buyers As per a recent report from PropEquity, a firm that maintains data on real estate, in the first quarter of the current financial year, the Mumbai market saw an average correction of 42 84 per cent compared to the corresponding quarter last year And, a report by Centrum Broking on Maharashtra Chamber of Housing Industry’s exhibition said, major developers such as Kalpataru, Lodha, Rustomjee and Acme Group were quoting prices 20 per cent lower than their card rate six months ago Godrej Properties had dropped the price it quoted for its Mahalaxmi project (Planet Godrej) by 34 per cent .Not only in Mumbai, according to the PropEquity report, prices in other major metros too have seen a significant correction in the past six months . .These areas include Gurgaon (24 per cent correction), Chennai (13 per cent) and Hyderabad (10 per cent) for the same time period As per Mr Hitungshu Debnath, executive director, distribution and wealth management, Angel Broking, "To begin with, the yields of residential properties are low They are between 3-5 per cent only " He added that if you take a loan from a bank and expect the rent income to help you pay the equated monthly instalment (EMI), you will need to rethink the math "The rent income along with property appreciation will not be able to cover even the interest that the investor will pay for the home loan in the first few years This is called as opportunity cost in real estate To get good returns, the buyer will need to hold on to the property for a long time, probably till the loan is repaid," says a property expert . .They also suggest that real estate prices are most probably going to remain stable for at least two years, that is, if the correction stops But if you are still not convinced and want to go ahead with the purchase, wait for just another six months They feel that by that time there will be some clarity on the economy as well as the real estate industry in this period .
Source: www.rsstnx.com

Selling Your Home In San Antonio Texas
The beautiful climate and scenery of San Antonio, Texas and surrounding areas is a great place to live and work and it is also a great market for selling real estate Whether you have been involved in the real estate market for years, or if you are starting out, it is a good time to sell your home or property and make a profit on your sale . .There are a lot of attractions that have been bringing people to sunny Texas for years For some, it is the warm weather and friendly people, for others it is the history and culture Even though there are a lot of different reasons that people visit and live in San Antonio, Texas the real estate market is stable and more and more people are choosing to make it their home . . .If you are getting ready to sell your home or property in San Antonio, Texas, you are probably wondering how to best market your real estate and how much to ask for it One of the best things to do is study the current market conditions and find out what the fair market value is of the property See what other homes and properties are selling for that is similar to yours You also want to note any renovations or improvements that you may want to make on your property before you list it on the market . .When you want to list your home for sale, you want to make sure that it is in the best shape possible, and that you market it so that you get the most interested buyers as possible Real estate agents can help act as your selling agent and give you pointers and ideas to help move your home Some people who want to sell it themselves decide to sell by owner and can make more of a profit Selling property in San Antonio, Texas can be a great idea for getting into the investment business If you find properties that are currently in need of some renovations, you can usually pick them up for a low price You can then fix them up and make any necessary changes You can sell the property yourself, and start to see a large profit . .The area of San Antonio Heights, Texas is a beautiful region that is full of opportunities and beauty Whatever kind of home you are selling, there is likely to be plenty of eager home buyers that are interested You can get information on how to market and list your home online and you can also look at other properties that are similar to yours to compare them .
Source: www.rsstnx.com

Foreclosures For Sale
Foreclosures sales are currently being conducted in three stages across the United States The first of these stages is Pre-foreclosures which can be very profitable for investors California and Nevada are the top places to look for these kinds of foreclosures for sale Illinois and Florida also happen to be experiencing an increasing number of pre-foreclosure filings in the first half of 2009 The number of pre-foreclosures has gone up in New York as well . .The second time of foreclosure sales are conventional foreclosure auctions These are taking place almost all over the country The entire belt starting from Washington and Oregon travelling down through Nevada, California and Utah and ending up on Arizona has a high number of foreclosure auctions taking place On the other side Georgia and Michigan seem to be very promising . . .The number of bank owned REOs has also gone up in the first half of 2009 This is another stage of foreclosure sales that can reap big time profits for investors If you are looking for bank owned REO then you should pay particular attention to the states of Nevada, California, Arizona and Colorado Up on the northern corner Minnesota and Michigan are two other states with a high number of bank owned REO going up for sale Ohio, Tennessee and Georgia also have great money making potentials in the form of foreclosures for sale . .The entire solid chunk composed of Montana, North Dakota, South Dakota, Nebraska, Wyoming and Idaho has experienced a considerable decrease in foreclosure filings and consequently the number of houses up for sale has gone down However these areas were less severely hit by the others mentioned above hence it is not necessary that they have been recovering at a better rate It is only that they were never hit as badly as the other primary states mentioned above . .The number of foreclosure filings has dropped in New Mexico as well Louisiana, West Virginia and Maine are other states that have been braving the economic crisis and have experienced a cut in the number of foreclosures for sale .
Source: www.rsstnx.com

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