Currently viewing the tag: "USA"

The USA residential real estate (property) sales market is witnessing an influx of Chinese property investors, purchasing for both investment purposes and for personal reasons.

Research by the National Association of Realtors (NAR) show that the Chinese are just behind Canada as the largest group of overseas purchasers of USA property.

USA today revealed that cities such as New York, San Francisco and Los Angeles are proving to be popular destinations with overseas residential property buyers.

  • 40% of Chinese purchasers are motivated by attractive investment opportunities.
  • 60% buy properties with the intention of sending their children to school in the USA, immigrating or for business purposes.

Sales of investment property in the USA also appear to be booming, with the NAR publishing a study that shows a 64.5% increase during 2011.
Deals on holiday homes saw a 7% rise in the same period.

The volume of scheduled foreclosure auctions reached a nine-month high last month, suggesting that in early 2012 more homes in USA will be seized by banks or offered as short sales, in which lenders agree to accept less than the balance of a mortgage.

Although highly unfortunate for the victims, the distressed nature of the foreclosure property market in the USA presents purchasers with a unique opportunity to buy bargain priced properties in USA.

James J. Saccacio, chief executive officer at RealtyTrac said: “The first quarter typically is a better buying season, so you’ll see more of this inventory try to come to market.

“I expect 2012 to look similar to 2011 in volume if nothing changes with government intervention or regulations.”

Fresh figures provided by RealtyTrac, which publishes the largest database of foreclosure, auction and bank-owned homes, shows that a total of 224,394 properties received notices of default, auction or repossession last month.

RealtyTrac estimate that the U.S. housing market must digest over 14m distressed homes before the foreclosure crisis will improve. This includes around 1.5m homes in the foreclosure process, 3.5m with delinquent mortgages and at least 10m “underwater” properties.

Nevada led the nation with the highest foreclosure rate for the 59th straight month even as foreclosure notices fell 43% year-on-year, according to RealtyTrac.

California had the second-highest foreclosure rate, with one in 211 homes receiving a filing in November.

 

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The USA Is No Longer A Real Estate Graveyard!

US Foreclosure filings fell in July, hitting their lowest level since November 2007.

Processing delays and foreclosure prevention measures have enabled a larger number of delinquent borrowers to remain in their homes.

Foreclosures were down 4% compared to June and were 35% lower than July 2010, marking the tenth straight month of year-over-year declines, according to Realtytrac, a leading online marketer of foreclosed properties.

Realtytrac reported that 212,764 U.S. homes received some kind of foreclosure filing; notice of default, notice of auction sale or completed foreclosure, during the month.

Bank repossessions totaled 67,829, down 33.6% from the peak month of September in 2010 when banks took back 102,134 homes, and off 27% from 12 months earlier.

US Housing markets have struggled through another tough quarter which encompassed the spring, the strongest time of year for home sellers.

Prices of existing homes fell 2.8% in the three months prior to June 30 2011, compared with the same period in 2010, according to a report issued on Wednesday by the National Association of Realtors.

Last week America’s central bank pledged to peg interest rates at their ultra-low level for a further two years.

This week saw a very popular article on the rising prices in Detroit real estate by Alan Forsyth – Detroit House Prices Are Rising – Is Detroit To Be The Fastest Recovering Economy Ever Seen In Years?

The article has generated a great deal of interest from UK based investors as well as global enquiries to Alan’s office.

With these historic low interest rates there are some real property bargains to be had by shrewd investors!

Read Alan Forsyth’s fantastic article here

Meet Robert Allen This Week!

Last weekend was the National Achievers Congress (NAC) in London with 8000 entrepreneurs. There were some inspirational speakers who I am sure you will know, these included:

• Sir Richard Branson
• Anthony Robbins
• Lord Alan Sugar.

One of the other speakers was Robert Allen, Author of the biggest selling Real Estate book in America “No Money Down”.

However, Robert was not speaking about property investing but rather his favorite topic of “Info-preneuring” and multiple streams of income.

In case you were not able to make NAC the great news is that Robert has decided to go on a mini tour of the UK this week.

He will be coming to Birmingham and Manchester for the first time ever and then back to London before flying home to LA next weekend.

If you would like the opportunity to learn more about multiple streams of income and see Robert Allen on this mini tour then CLICK HERE NOW.

There Will Never Be A Better Time To Invest In Property

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