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Top 10 Cheapest Towns in the US

Top 10 Cheapest Towns in the US

Living in this economy these days can be a little taxing on your wallet, and budging ones expenses seems to be a norm as well. The various Cities we live in also ultimately determine the type of lifestyle a person has, and how they interact with society. When it comes to calculating living expenses, the Council for Community and Economic Research surveyed close to 300 communities in the US this quarter according to Yahoo.

There are 10 US cities that are the cheapest in the country, the state of Texas has three of them, along with the mid-west holding down four spots. Just making the list at number 10 is a town in Oklahoma called Pryor Creek, it has the nation’s fifth-cheapest cost for miscellaneous items, and ranks 28th for cheapest health care. You can also get around town cheaply as it costs 7% for transportation, which is better than the national average. Along with these living conditions for one-bedroom homes can range from $10,000 to a nice 3-acre home topping off at $995,000.Pueblo Colorado

Coming in at number 9 is a town in Colorado called Pueblo, it has the 15th best housing cost, the nation’s sixth best miscellaneous cost, and transportation cost is 4% below the nationally average. As far as buying a house goes, you can get a three-bedroom house for $14,500.

To make the cut at number 8 we take a look at Arkansas and the town of Conway. The town has been ranked in the top ten for health care cost the past few years, and now ranks second best in the nation for lowest health care cost, almost 20% lower than the national average. To go along with their highly ranked health care cost, they carry the third best cost for miscellaneous items.

For the number 7 rank we head to Ohio to a town about 60 miles away from Cleveland called Ashland. This town has the second best prices for miscellaneous items, and 19th best for housing cost and you can get a two bed-room house for $20,000.

For the number 6 town in the countdown we make our way down to the state that is known for their state fairs and doing everything big… Texas. Temple, TX is the first of three Texas towns in the countdown, this town of 66,000 people has the fourth best lowest prices for groceries, and the 12th least-expensive housing cost. Transportation in Temple is close to 10% below the nationally average, and its health care cost is 8% below the national average as well. As far as housing, a three-bedroom house goes for $20,000.

Starting off the top five lists is another Oklahoma town called Ardmore. This town has one of the biggest percent differences when it comes to the housing cost compared to the national average. Ardmore housing cost is 21% below the national average, and you can get a one-bedroom house for around $15,000. To go along with this, the town has the 13th-best health care prices and 14th-best utility charges.

The mid-west makes another cut with the 4 cheapest town Fayetteville, AR. The 45 square mile town has the nation’s 12th best prices when it comes to transportation, the 17th lowest prices in groceries, and 9th lowest miscellaneous cost. Getting a three bedroom house in this town will run you close to $30,00o

McAllen Texas

McAllen makes it into the list for the second of three towns in Texas for the countdown at number 3. Located just five miles north of Mexico this town has one of the top 10 best prices for groceries, as it ranks 6th nationally. Along with ranking high with groceries,the people of McAllen claim the lowest housing cost out of all 10 towns, as its cost is nearly 40% below the national average.

Tennessee makes an appearance on the list with the second cheapest town in America with the popular city of Memphis. The jazz capitol of the US has an outstanding housing cost, just like McAllen, Memphis housing cost is close to 32% below the national average, and you can actually get a three-bedroom house for wait for it…. $2,000.

Rounding out the top 10 is Texas’ third entry with Harlingen claiming the nation’s cheapest town title. Nestled 10 miles away from the US-Mexican border this town has the nation’s lowest cost for miscellaneous goods, has the fourth-cheapest transportation cost, and fifth best grocery cost.

That rounds out the nation’s 10 cheapest towns, if you live in one of these towns congratulations to you, let’s see if these towns can hold up in this economy now.

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A New Twist to Measuring Real Estate

A New Twist to Measuring Real Estate

When it comes to real estate prices some areas such as Yerwada beat other locations such as Boat club road. These places have also succeeded in gaining high points in the National Housing Bank index which is a governmental institution designed to regulate the real estate sector.  Presently only residential index by the name of residex is being worked at however in future commercial property index is also being planned.

Residex takes in account the property costs of different cities through agents to assess the housing prices along with consulting with banks and financial institution to assess loans taken by related institutions. Besides housing pricing and loans residex also considers property tax zones and employment generation capability of a particular area. The city is spread in five zones for NHB and the areas with the maximum points indicate more worth as compared to a low scoring area.

According to the vice president of (CREDAI) a real estate developer association, other key elements that increase the worth of an area are the auxiliary development such as shopping malls, parks, hotels. The areas that have gained large points in a very small time contain all these facilities that encourage buyers to invest in those areas. Additionally schools, roads and other better living conditions also play a vital part in increasing worth.

The area of Kharadi for instance was not so popular a few years ago but with the opening of the IT park and availability of necessary infrastructure these areas have experienced a boom in the real estate sector.

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Seller’s Market Trying to Shift Regions

Seller’s Market Trying to Shift Regions

The real estate prices all over the world are facing the downfall continuously at one side and on the other side, if you notice the major areas which are considered as the main area of seller’s market are growing continuously and homeowners are trying to include more and more property in the list of sales each year.

According to the newsletter of the website Realestate.co.nz, the downfall in the prices of national stock of unsold houses has been observed with the decrease in its price and seems to be down continuously to 42.1 weeks. While, the average of this downfall is counted as 41 weeks in two years. After the issue of 911, the prices of houses went down by 18 percent and up until now, continuously decreasing with the ratio more than the previous.

Because of this reason, the sellers’ market has been decided to shift itself to another area from where it could start its functionality again and could manage the inventory level which was facing the downfall below than the average. This would help buyers to elevate their demand and develop a potential in their mind to see the rise in property prices. The regions where they are trying to shift are Nelson, Canterbury, West Coast and Wellington. However there are some provincial regions as well who are counted in buyer’s market and showing the inventory level more than that of the average long term rates.

 

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Seattle Times Nominated for 5 Awards for Best Real Estate Dealer

Seattle Times Nominated for 5 Awards for Best Real Estate Dealer

The annual Journalism competition which was held to award the best real estate dealers of the year nominated five awards in total to “The Seattle Times” to provide the best real estate editors for the year 2010. To present these awards, Naree’s meeting was arranged in San Antonio in the beginning of this month where real estate investors from all over the world participated and won different prizes of different categories.

The first prize was won by Mr. Eric Pyrne who was known to publish the best real estate story in the news paper and describing the process and implementations of the company which are going to be applied in the future real estate matters. The man has also won a second award to present the best marketable real estate report in which he described the overall market position and company’s performance against each and every typical step.

Eric is going to be considered as the next company’s right hand in providing the best real estate solutions and the latest real estate trends of market. Another famous award category was won by Sanjay Bhatt who became famous in providing the complete group report prepared for the appearance of his company “Publica” at foreclosures.

Another award which he won is on publishing a famous real estate story on “Loan Wolf” which is going to be considered as the most important source of knowledge for the real estate investors of the whole world as well as for the property dealers.

 

 

 

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Midwest Real Estate Data can now to be accessed with new tools

Midwest Real Estate Data can now to be accessed with new tools

10K Research and Marketing is a research firm which would soon supply an interactive housing market analytics tool to MRED members. License agreement between both the companies has been established. The analytic tool will allow the users of the tool to create customized charts using the MRED data. The charts would have standard data points in them for effective access to the data.

The data points such as average days on market, median sales prices, homes for sale, pending sales; monthly supply of incentives along with different categories of filter criteria is being added to the tool. Filtering of data using price range, zip code, distressed vs. traditional sales and property type can be made use of to get the data working effectively for analysis.

Mr. Bergeron, CEO of MRED said that it would bring more business to the company when the tool is used by many MRED members. He also stated that to do better business it is a must to have better understanding of the local market and effective communication to get the pre-requisites is a must.

Since the consumer has access to the information quickly than it was ever before, it is always better to have a good understanding of the consumer and absorb quickly. It would help in building better relationships as well. The tool is expected to go live in August. CoreLogic rivals are in negotiation with MRED for a feed listings data to Core Logic’s Partner Infonet program.

 

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Reuters to Hold Summit Conference on Global Real Estate

Reuters to Hold Summit Conference on Global Real Estate

Reuter’s agency conducted a series of interviews last June 20-23 on the world’s known names from London, New York, Dubai and Singapore in the international infrastructure and real estate society to discuss the future of the infrastructure and real estate community.

The world’s real estate industry is gradually walking towards recovery but with some uncertainties despite their efforts to survive the dropping capital values, income deficits and the agonizing debt in today’s global crisis. The capital values of commercial properties are very far from overcoming the crisis and investors are still looking up for means to increase their income while developers are going back to work on the hope to benefit from the confidence shown by the consumer, economic and business sector.

Real estate agencies are on guard on the banks decision on the suffering assets while the private insurers, pension funds and equities have their claws ready in welcoming the developers and investors who are in need of financial assistance and in the acquisition of valuable assets.  On the other hand, the infrastructure sector takes refuge in having the government as its counterpart in various multi-million projects such as school buildings, airports, roads and other government projects.

With the current activities going on inside the real estate and infrastructure industry in the developing countries, the privatization of some government owned projects opened the doors for infrastructure investors. Studies reveal that several government infrastructure projects are expected to be on the rise this year while the private sectors are competing against giant institutional investors.

 

 

 

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Real estate industry requires versatility

Real estate industry requires versatility

Studies have shown that, in order to be successful in the real estate industry, one must be versatile and have knowledge on a lot of issues. The real estate industry is one that requires knowledge in the field of sales, finance, horticulture and a little of decoration in addition to the real estate knowledge.

The real estate industry is a very tough one that presents daily challenges that requires not only real estate knowledge but in other fields as well. The study further revealed that, many real estate businesses are unable to survive because their owners could not keep up with the problems and challenges.

As a real estate developer, one should be able to come up with housing designs that will meet the needs of clients. They also have to see to it that, the homes are well beautified and are well comfortable for the occupants. They also need to do some accounting to come up with the pricing for the homes.

Real estate agents on the other hand need to know how to relate to clients and also to convince them buy a particular home. They also need to know the financing options available to the clients and how well they can liaise with the financial institutions to get their moneys paid.

Due to the competitive nature of the industry, only people with a lot of knowledge are able to survive. It will also be easier to move to other fields of endeavor if the real estate industry is no longer working.

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Taking the real estate market online

Taking the real estate market online

Trading has taken a different turn in the 21st century with almost all goods and services being sold online. One question people seem to be asking is if real estate will begin trading online anytime soon. Whiles some people believe it will be soon, others still think it is not possible as unlike shoes or clothes, the real estate industry is based on trust.

An online real estate services provider, copious was recently launched to help sort out trading of real estate. Instead of selling homes, they rather encourage people to buy real estate and sell to people they know. To implement this, they let their users’ logon to their system via their facebook accounts. The connection here is based on the friends of the buyer who ever bought from the seller or the friends both the buyer and seller have in common.

This online real estate selling system is soon to be connected to the popular online market places like eBay and Twitter. Discounts are to be designed for people who recommended sellers or buyers to others.

The problem this system faces is that, if care is not taken, it could easily be abused by fraudsters to defraud many people. This is because of the fact that, though there exists some connection, animosity is not completely eliminated. Some people are connected to other people they do not know physically.

If however this system becomes successful, the real estate industry could take a new turn. Houses will now be bought and sold online with payments, previews and bidding all done on the internet. It will save home buyers a lot of time having to go round looking for a home or paying huge sums of money to estate agents.

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Chicago Real Estate Market Trends

Chicago Real Estate Market Trends

The home prices are low in Chicago but the sale price is up as the inventory of unsold housing projects is going to be cleared. How much this trend will affect the investments made by the lenders and borrowers who are searching to buy or sell new property in the coming few years at Chicago?

According to the famous association of realtors called Illinois, the rise in the prices of home sale was noticed up to 71.6 percent in the end of November 2009. However, the Standard & Poor’s/Case-Shiller index discusses the fall in median home prices at Chicago as 10.1%. This index is presenting a mix picture of health and recovery in Chicago’s real estate market which is not considering as a fix ratio for doing bigger investments.

However, the index figure of real estate market of Chicago can be compared with the year-to-year index ratio. It means that the ratio of index of six months of this year is easy to compare with the six month ratio of the previous year. The sale of existing home in Chicago has been noticed a bit lower this year and sellers are waiting for the prices that can be compared with the price which was noticed in housing bubble.

The city is now focusing condo developments which have been entered in the real estate market of Chicago with new properties. To avoid the risk of foreclosure, thousands of homes were listed as short sales. All of these factors are considered as the main reason of downfall in the prices of real estate home market.

 

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What Happened This Spring in Real Estate?

What Happened This Spring in Real Estate?

Spring season is considered as the best season to deal in real estate matters. For the first time, it was noticed in the month of April that mortgage has been helping the buyers with long term mortgage rates. It was noticed that rather investing in short term it would be much better to lock into the long term mortgage rates. To see whether this idea is working or not a survey was arranged by Freddie Mac with the help of PMMS ( Primary Mortgage Market Survey ) through which this result was obtained that the 30-year fixed rate has now been dropped down with 4.80 percent which was noticed around 6.03 percent same time last year. Moreover, a one-year and five-year Treasury-indexed rates are calculated around 4.82 and 4.85 percent respectively which were calculated around 5.29 and 5.68 percent respectively same time last year.

The rise and fall in house prices have also been noticed. The prices rose consecutively for the months of January and February. The same situation happened last year in the month of April. After the month of March the median home price fell down with a rate of 12% as compare to the previous year. Just after this the price of the famous Bailey Mansion which was used as a circus dropped within six months from $10 million to $6.5 million. Evermay which is known as the most popular home listing of Washington dropped its price from $49 million to $39 million. This is one of the biggest real estate properties which is spread on the area of 3.58-acre and known to belong to the real estate market since September.

 

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