All About Realestate

By Ki Gray

Mortgage rates for most of the major mortgage products fell again this week. Although the drop was not as substantial as last week it is still nice to see rates come down this week. The 30 year mortgage rate fell from 6.20 to 6.14. The small movement this week marked a departure from the wild swings we have been experiencing recently. In fact the drop of .06 points in the 30 year mortgage rate was the first time 30 year rates didn”t move over .20 percent since October 9th. That said I would not preclude the possibility of us experiencing some more wild fluctuations over the next month. Nothing has happened that would seem to stabilize the markets. Looking at the other mortgage products 15 year rates dropped .07 points (from 5.88 to 5.81) and 5 year arms dropped .21 points (from 6.19 to 5.98). The 1 year arm was the only rate to increase moving up .08 points (from 5.25 to 5.33). Below are rates for the major mortgage products for the last few weeks.

November 13, 2008
30-yr 6.14 15-yr 5.81 5-yr ARM 5.98 1-yr ARM 5.33

November 6, 2008
30-yr 6.20 15-yr 5.88 5-yr ARM 6.19 1-yr ARM 5.25

October 30, 2008
30-yr 6.46 15-yr 6.19 5-yr ARM 6.36 1-yr ARM 5.38

October 23, 2008
30-yr 6.04 15-yr 5.72 5-yr ARM 6.06 1-yr ARM 5.23

October 16, 2008
30-yr 6.46 15-yr 6.14 5-yr ARM 6.14 1-yr ARM 5.16

Looking at changes in mortgage rates is interesting but it”s always nice to see what they translate into as far as a mortgage payment. Using our free mortgage calculator we translated the rates for the last two weeks into what they would mean for a 200k mortgage.

November 13th
30-yr $1217.16
15-yr $1667.25
5-yr ARM $1196.53
1-yr ARM $1114.33

November 6th
30-yr $1224.92
15-yr $1674.77
5-yr ARM $1223.64
1-yr ARM $1104.40

October 30th
30-yr 1258.87
15-yr 1708.31
5-yr ARM 1245.77
1-yr ARM 1120.56

So in the last two weeks the monthly payment on a 200k loan would have dropped $41.10 from $1258.87 to $1217.16. So what would be my advice for people looking for mortgage rates right now? First off I would avoid the 5 year arm. The small difference between the 5 year arm and the 30 year mortgage makes the 5 year arm pretty unappealing. In addition, the unstable nature of the market makes locking in to a longer loan term more appealing. If one gets a 30 year loand and rates move down they can always refinance to take advantage of the lower rate.

We talked a lot about rates but the other major factor in today”s market is the difficulty of getting approved for financing. Banks have become more reluctant to give out loans and that means credit scores are very important. If you are thinking of getting a mortgage soon I would start looking at your credit sooner rather than later. Also no doc loans are pretty much dead. So if you are self employed and received a no doc loan in the past I would not expect to get one in the current environment. So that basically means its a good idea to start preparing for a loan earlier in the process (talking to a loan officer, getting paperwork ready). Talking to a loan officer at later in the process without prepared documentation is probably a recipe for disaster.

So what is going to happne with rates over the next few months. Mortgage rates have been swinging wildly up and down recently. I expect to see some more large swings moving forward. That said I expect rates to stay roughly between 5.8 and 6.6. I don”t expect them to fall below 5.8 as long as banks have an uneasy feeling about the market. I don”t expect them to go above 6.6 any time soon because the government has made it clear they are going to do whatever they can to keep rates low.

About The Author

Ki helps buyers interested in Austin real estate http://www.escapesomewhere.com his website has a free search of the Austin MLS http://www.escapesomewhere.com/realestate_searchthemls.html along with updates on his Austin real estate blog http://www.escapesomewhere.com/austinblog/

By Fritz Pfister

In my opinion the news this week is telling us the attitude of the American consumer, and it”s not good. Reported today in the SJR Marketplace section (11-15-08) is that retail sales fell by the largest amount on record. What grabbed my attention was the decline was greater than the decline following the attacks of 9-11-01. Are the problems the American consumer faces today greater than on 9-11?

Consumer spending is the fuel that drives the economy. The ripple effect as businesses cut inventories due to lower demand from consumers, results in job losses in the production sector. Fewer jobs means fewer home buyers at a time when there is a near record number of homes for sale.

Money Magazine named the top 100 cities to live in the country this past week. Springfield Illinois was not on the list. However the report stated that the number of jobs in Springfield grew by 5% between 2000 and 2007. Kind of reminds me of those turtles featured in the ad promoting high speed Internet.

It appears from these reports that the economy will continue to slow down. How should we react to this reality? I for one will continue to do the best job I can to help local home sellers get sold, and local home buyers find the right home at a fair price. I choose not to be part of the slow down.

This is what I recommend each of you do. Whatever your chosen profession, be the best you can be. Productivity will be key to turning this economy around. Productivity begins with your attitude.

We continue to see the effects of the slowing economy in all areas, private and public. Illinois Comptroller Dan Hynes reported this week that due to falling tax revenues the state is behind $4 billion in payments to state vendors, which could increase to $5 billion by March, and that it is taking 20 weeks to pay a bill once received. Lord knows how long the billing was held before reaching the comptrollers office. As a result many health care providers are now refusing medicaid patients.

This impacts the local economy as service providers and vendors for the state go unpaid, and must borrow to make payroll to continue to stay in business. This may likely lead to additional job cut backs for these vendors, if not entire business failures. It”s hard to stay in business when your client doesn”t pay.

The impact of the slowing economy is showing in the local housing market. I reported here last week that in spite of home listings going under contract falling by double digits three straight months, closed sales were holding steady. The falling sales pending are apparently catching up as closed sales the first half of November are down by over 31%.

So far this year the number of closed home sales is down by 12.2%, or by 439 home sales. This is tracking for around 3500 home sales following 4 consecutive years that surpassed 4000 annually. This is not a collapse, however it is painful to hundreds of home sellers.

Do not be dismayed! Opportunities abound for families in the market to buy a home. The inventory of homes for sale stands at 1875 today, a six and a half month supply as we enter the historically slowest selling season of the year. Do you think serious home sellers aren”t prepared to deal with you?

The opportunity for home buyers that desire to buy new construction is the best in years. The Springfield Illinois market is on pace for 220 to 230 new home sales in 2008, down nearly 33% from the high of 339 set in 2005. The 168 listings of new construction available for sale today represents an 8.6 month inventory. The opportunity to make a deal with a home builder has never been better!

Yes these are tenuous economic times, however we shall survive, and might I suggest there will even be those that thrive. I choose to be in the thrive category. I hope you make the same decision. If we all collectively decide to do our best at our chosen professions, to be as productive as possible, then the local economy can prosper.

With Veterans Day occurring this past week I am reminded of a commander during the Korean War. With 300 troops, low on ammunition, in below freezing temperatures, and surrounded by over 10,000 Chinese soldiers, what did this commander say to his troops? “They can”t get away from us now!” Or the commander during the time of the Battle of the Bulge when surrounded and vastly outnumbered by the Germans when the Americans received an ultimatum of surrender now or everyone dies. What was the American commander”s response? “Aw nuts!”

That”s the American spirit in action. We face far less daunting challenges. “Opportunity can”t get away from us now!”, and “Aw Nuts” let”s get to work!

This is economic war. With the proper attitude, the rekindling of the American spirit, and dedication to be the best you can be, prosperity for all can be achieved. In this regard President elect Obama is correct, the economy will be saved from the bottom up. It is up to each of us individually as to how we will react to the circumstances of today. What do you choose to do?

About The Author

Fritz Pfister is a licensed real estate broker in Illinois with 21 years service.
Fritz hosts Let”s Talk Real Estate on AM970 WMAY, now in its” 13th season.
Fritz provides advice that helps home buyers and sellers to succeed.
Fritz”s website is http://www.SpringfieldHome.com

By Jerry Glynn

If you are planning on selling your Orange County real estate property, you may also be planning on purchasing a new home at the same time. Most people find that it is smart to sell before buying, but others believe that buying before selling is the best strategy. This article will explore some of the reasons why, and give you helpful tips as well.

The first benefit of selling first and then buying is that it gives you the luxury of time and the ability to negotiate the price that you really want. You do not have to feel pressured to take the first offer that comes along, since you are not in a rush to move into the home that you have just purchased, and you can generally ask for and receive a higher sales price as well, since you will not appear desperate to sell. Another thing that sellers often do is to make the sale of your current home contingent on the closing of your new home purchase. This way, if your purchase does not go through, you will be under no obligation to sell your house.

Many buyers agents will require a concurrent closing clause in this case, and if so, you can ask for a time period in which to look for a replacement home in the event that your home purchase does not go through. This will also give the right to cancel the contract. If you are not able to find the best new Orange County real estate property right way, you may want to consider renting after closing, and or renting back your home from the buyer for a short period of time.

If you find a deal that is too good to pass up, you may want to consider buying first and then selling. Maybe desperate circumstances are forcing the owners to sell, or maybe you have found your dream home and simply can not wait. These are both legitimate reasons for purchasing a home before you have sold your first one. The caveat here is to make sure that you do not end up owning and paying the mortgage payments on two Orange County real estate properties at the same time if it is not worth it to make double payments until you can sell your first home. Either way, just be sure to do your research, negotiate your offers, and above all, keep a positive attitude.

About The Author

If you are looking for a Southern California Real Estate company, the author recommends you visit http://www.firstteam.com

By Peter Vekselman

A real estate mentor can be the person who can not only get you involved in the real estate market, but show you how to make money. Many real estate mentors agree that there has never been a more perfect time than now to make money in this field. This is no different than any other skilled and trained profession, you can learn the step by step process to make a monthly income that compares to that of high paid doctors, lawyers and other professionals.

As a matter of fact, you can usually make more than these individuals. A great deal of the most financially successful people in the world got their start in the real estate industry. But you need a mentor – someone who can show you the ropes and how to get started in this most lucrative, but volatile, investment field.

While the housing market continues to crumble, foreclosures rise, credit lines tighten, and layoffs continue. It is a hard time for many Americans. The housing boom has burst and what we are left with is a seemingly new perspective on home ownership and investing. But in the hardship of an economical crisis opportunity knocks louder than you may ever see in your lifetime. More than ever, smart people are looking into real estate investing.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful, Warren Buffet

Warren Buffet is the guru of stock investing and company acquisitions, maybe the greatest investor of all time. It is believed that when the masses run in one economical direction, it is a good idea to look to where they are running from.

A good real estate mentor will hold your hand through every twist and turn of the industry to ensure your success and total satisfaction. You will learn:

1 No money down strategies
2 Flipping a property in 30 days
3 Fail-proof worksheet to determine the return on a purchase
4 How to determine a renters market
5 How to determine when to buy and when to sell

All wealth since the beginning of time enters from real estate in one way or another. Do not miss out on this once in a lifetime opportunity to begin a legacy for your family. There is gold in the real estate industry and a real estate mentor can help you discover this gold. Allow a real estate mentor to show you the way towards wealth in the real estate market.

About The Author

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management company. To learn more about Peter please visit http://www.coachingbypeter.com.

By Evan Sage

Your Toronto real estate agent should have a list of standard conditions to include in your offer. The more experienced agents will also have a set of special conditions that will make the deal a little bit better for you.

Although these conditions are included in the initial offer it does not mean the seller will accept them. But its always worth a try.

Listed below are just some standard conditions that you will want to include in your offer.

Building Inspection

Building inspections should always be done prior to purchasing a Toronto property.

In general Toronto is very accepting of building inspection conditions in offers. The typical length of the home inspection condition is three days.

Have an inspector lined up before a particular time frame in the offer is committed to. Make sure to have extra time once the inspection has been completed to review the results before the condition expires.

Financing

Be sure to get prequalified and preapproved before arriving at the offer stage.

Make sure to also look over any commitment documentation you may have received from a mortgage broker or lender. Discuss with them any restrictions or limitations that may be attached to the mortgage.

You may not need to, but be sure that if you are not completely satisfied that your mortgage has been secured then it is a good idea to include an adequate financing condition.

Conditions on the Sale of Your Current Property

If your property has not had many showings, or has been on the market for quite some time, then you may want to make the deal conditional upon the sale of your current property

Contingencies

Be reasonable if you want your offer taken seriously. Trust your instincts but be realistic.

Balance of Terms and Clauses

Items up for negotiation include the irrevocable period, chattels to be included in the sale, and the closing date of the transaction.

DEPOSIT

How Much is Needed for a deposit on a Toronto Home?

The typical deposit amount in Toronto is about five percent, but generally you only need to put down enough to assure the vendor that your intent to purchase is serious.

If you are able to put more up front it can put you at an advantage. Larger deposits tend to impress the vendor and may get you a slightly lower price in the end.

Is My Deposit Safe?

The risks in Toronto are very low as the province of Ontario mandates all deposit funds be put into the brokers trust account within two days.

To ensure the safety of your deposit funds make sure that your cheques is payable to the real estate companys name, In Trust. These funds are tightly regulated with very strict laws.

What Happens to the Interest?

If specified in the Agreement of Purchase and Sale, the funds will be deposited in an interest bearing instrument within the trust account and any interest accrued will be for the buyers benefit.

When Must the Deposit Money be Available?

The Agreement of Purchase and Sale will say that the deposit must be submitted either upon acceptance or herewith the offer.

NOTE, DEPOSIT FUNDS ARE A LEGAL PURCHASER OBLIGATION.

If the deposit funds are not immediately available the vendor that the legal right to terminate the transaction.

Another option to consider is a two stage deposit if you cannot access the total of your proposed deposit funds.

About The Author

Evan Sage is an award winning Toronto Real Estate Agent specializing in working with clients who are downsizing their homes in Toronto. Evan works hard to instill in his clients the confidence to make the right purchase or sale decision. Visit http://evansage.com for a wealth of free articles.

By john mce

The 1.5 percent cut in interest rates by the Bank of England has come after the news from Halifax Bank that property values have fallen a massive 15 percent in the last twelve months. Credit has abandoned the housing market, so many are hoping the lowest borrowing rates for 53 years will help residential prices to recover.

According to estate agents across the country, the depth of the property market slump is worse than the research led by lenders suggests. Houses bought for 400, 000 pounds are selling for less than half their value, and many homes are being auctioned off for small sums because of impending repossession.

According to Estate Agents, city centre property has been the worst hit, with prices plummeting. There seems to be a massive over-supply of new-build apartments in city centres, with the abundance leading to property developers selling properties for much less than their real value.

Following the Government”s dramatic bail-out of the banking sector, estate agents in Leeds, Sheffield and Birmingham have noticed markedly decreased sales, many speaking of how !nobody is buying”.

Estate Agents in Leeds reported 30-40 percent drops in house prices, pushed down by bulk buys. Meanwhile agents in Birmingham reported drops of 25-30 percent, and up to 40 percent on bulk buy apartments. Also, there have been very few new build apartments in the last two years, and many projects in Sheffield and Leeds, as well as elsewhere, have ground to a halt.

In the current market, developers are being forced into offering rent-t-buy schemes, where the occupier, who is unable to acquire a mortgage, rents the property for up to three years before deciding whether to buy at a pre-agreed price.

Developers in Birmingham are even offering ”chain-breaker deals”, whereby developers offer financial assistance, to the tune of ten thousand pounds, to buyers who threaten to break the buyer-seller chain.

Urban apartments have been hardest hit by the sharp decline in the property market, mainly because their boom over the past decade was founded on the growth of buy-to-let investors, who in turn have been the worst hit by the credit crunch. People invested so willingly in such developments that the prices of urban apartments were very inflated, and have since been worst hit by declining values.

Also, urban apartment blocks are one of the few over-supplied areas, after urban regeneration schemes identified them as the best way to create affordable homes and meet Government housing targets.

About The Author

John Mce writes on behalf of A Quick Sale. A Quick Sale is the number one property buyer in the UK. We can help you with a quick property sale and find solutions to keep you in your home, through rent or buy-back options.

http://www.a-quick-sale.co.uk/

By Luigi Castagna

Foreclosure is the process of regaining a property from a borrower and returning it to the lender due to default of payment on the loan or some other type of hardship. This is generally due to an inability by the borrower to catch up on their payments or otherwise maintain their financial responsibilities. Foreclosure listings are public information . Foreclosure by judicial sale is considered the most common and preferable type of foreclosure, and is permitted in all 50 states. It requires both parties (the lender and the borrower) to appear before a judge in order to determine if the property can and should be sold in order to pay off any remaining mortgage balance and fees.

Foreclosure is worse then bankruptcy because you are actually losing something of value, your home. It usually takes 110-120 days or more for the foreclosure process to be completed. Foreclosure how to buy bank owned homes. When a homeowner misses three payments in a row the bank will usually start foreclosure proceedings. Foreclosure laws in your state, priority of liens, bidding at auctions, title insurance, and bankruptcy are some key areas where you should gain full knowledge. That way you will be able to make better and safer investments.

Foreclosure resales make up at least one-fourth of all sales in a many Valley neighborhoods now. In a few areas, the rate of foreclosure resale is much higher. Foreclosured properties are those in which the financial institution has repossessed the home from the owner due to nonpayment of mortgage obligations, according to the MAAR report. The number of homes in foreclosure in White Bear Lake has increased steadily during recent years. Foreclosure can be a long process, and until the lender actually holds title, there”s little anyone can do. Once [the foreclosed property] is owned by the bank, start putting pressure on them.

Foreclosure is a costly experience for the family losing a home and can be a lengthy and expensive procedure for the loan investor, the servicer, and any insuring agency that is also involved. Foreclosure is a challenge faced by millions of Americans every year from all walks of life. Foreclosure pa fre indiana home foreclosure san antonio. Finally the letter Knoxville Foreclosure the summons appears and you realize that you are on. Foreclosure statistics have again sprung up across all media outlets. However, unlike recent trends, the headlines for California are claiming dramatic foreclosure declines.

Foreclosure not only affects the homeowners but also badly affects the economy of a particular region. It brings down the prices of home not only in that area but also in the surrounding places. Foreclosure Listings Nationwide : You must register with a credit card to gain access to listings provided by this service. Unlike straight database services, this site also offers a blog, short tutorials and more. Foreclosure can be explained as a state of default where the borrower is unable to pay installments and this leads to the seizure of property by the lender. The seizure involves vacating the property by the homeowner.

Foreclosure activity increased 12% in August from July and 27% from August 2007, according to industry watcher RealtyTrac. Last year saw 2.2 million foreclosure filings.

About The Author

Try a FREE Search on Bargain Network Homes to find a home in your area and price range.

http://www.usfreeads.com/1495405-cls.html

By Ki Gray

Marble Falls is a small city on the shores of the Colorado River in the Texas Hill Country. The city was founded in 1887 by General Adam R. Johnson, and incorporated in May of 1907. Marble Falls is located 47 miles northwest of Austin and 85 miles north of San Antonio, so it is centrally located and accessible from two large metropolitan areas.

Marble Falls is in the middle of the Highland Lakes chain, and after the construction of the dam which created Lake Marble Falls, the marble falls themselves were no longer visible, unless the lake levels were lowered by the Lower Colorado River Authority, which caused them to be visible in certain locations.

Marble Falls, frequently referred to as the Gateway to the Hill Country, was originally founded when Adam Rankin Johnson traveled down the Colorado from Fort Mason to see the “great falls”, as they were called at the time, and obtained land grants with the intention of settling near the falls, until he discovered the certificates were worthless and settled instead in Burnet with his wife Josephine, in 1861.

Johnson had intended to help build a great manufacturing community, powered by energy from the falls, but after settling with his wife in Burnet, joined the Confederate army, and was later blinded by a rifle ball in combat.

Johnson later was employed by the land office in Burnet for years, where his reputed excellent memory and his son”s help allowed him to overcome the limitations caused by his blindness and succeed in making land deals. In 1887, he finally purchased land in the Marble Falls area, and built a home for his family there. The home faced south, directly toward the majestic falls, and his family members gave him daily reports of their beauty so he could visualize them as he remembered them.

The community later thrived and became a cotton center, known as “The Blindman”s Town”, and Johnson”s home, named Liberty Hall, was later purchased by Orphelia “Birdie” Harwood and her husband George, in the early 1900s, and was later named Harwood house, but is still referred to as Liberty Hall or Liberty House by some.

The house was bought in 1946 by Bill and Eunice Hall, and their son, and is now a commercial building, but prior to their purchase of the home, “Birdie”, as Mrs. Harwood was called, was elected mayor of the community, and while teaching at the local school, loaned supplies to one of her students, Lyndon Baines Johnson, who later went on the fame as a political force in Texas and later the president of the United States. Johnson along with his family, is one of the most notable early residents of Marble Falls.

In 1970, home mail service began in Marble Falls, and Horseshoe Bay, a beautiful lakeside resort replete with a golf course and various water sports such as boating and canoeing, restaurants, and other facilities and activities, was built on the shores of the lake. Lake Marble Falls itself was created in the forties by the construction of Buchanan Dam, along with Starke and Wirtz Dams, and the other Highland Lakes were created around the same time, by damming the waters of the Colorado River.

Lake LBJ is also very close to the city of Marble Falls, and two of the dams used to partially create Lake Marble Falls were rebuilt in the year 2000. Earlier, in 1980, a new high school was built to improve the academic performance of the area students, and ten years later, the internet was introduced in Marble Falls, allowing even more access to reference materials for the residents of the growing community.

Today, Marble Falls is an established community. The yearly Lakefest in August draws throngs of visitors, as do various attractions including numerous restaurants, a movie theater, many R.V. parks, a public golf course called Meadowlakes, and a plethora of gift shops, antique stores, bed and breakfast inns, and a variety of unique local attractions.

Marble Falls has a large community of retirees, as well as residents who spend their winters in the town, due to its mild climate. Some of the popular local restaurants include the Blue Bonnet Cafe and Russo”s Texitally Cafe, and Rockhopper”s Family Fun Center offers miniature golf and other games and sports.

If peaceful, rural living, as well as scenic beauty and numerous amenities are your cup of tea, come to Marble Falls and experience the best Texas has to offer!

About The Author

Ki helps buyers interested in Austin real estate http://www.escapesomewhere.com his website has a free search of the Austin MLS http://www.escapesomewhere.com/realestate_searchthemls.html along with updates on his Austin real estate blog http://www.escapesomewhere.com/austinblog/

By Joanne Musa

Some real estate gurus make tax lien investing sound like it”s a sure thing. That you”re guaranteed to make huge interest rates and that it”s “government guaranteed”. Unfortunately for you, they leave out a few facts and are stretching the truth quite a bit.

First you have to understand that tax sales are auctions and in most state those extremely high interest rates are bid down to extremely low rates. Why would investors do that? It”s simple; sometimes there are other penalties that they will get should the lien redeem. In New Jersey for instance the penalty is between 2-6% depending on the amount of the lien. In Florida there is a penalty of 4%. Also once you own the lien, you can pay the subsequent taxes and get the maximum interest on that.

Secondly, you must understand that there is no guarantee that you will get paid on your lien. Of course if you don”t get paid, you can foreclose once the redemption period is over. But no one guarantees that you will be paid! What these gurus mean when they say that tax liens are “government guaranteed” is that the laws are on your side. If you don”t get paid you can eventually foreclose on the property. The only thing guaranteeing your investment is the property! That”s why I don”t recommend investing in tax liens through the mail or online. Would you buy property that you didn”t see first!

When you buy a tax lien certificate, even though you are not purchasing the property, there is always the chance that the lien will not redeem and you will have to foreclose on the property. What if the property is worthless? What if it is an unbuildable piece of land? Then you are stuck with a worthless piece of property that no one will want to buy from you and if you don”t continue to pay the taxes on it, it will eventually revert back to the county that sold it to you.

Yes, there are risks involved in tax lien investing and no, it is not a sure thing. It is however an excellent way to invest your money if you know what you are doing. If you are contemplating buying a program to learn how to invest in tax lien certificates or tax deeds, beware! Don”t buy an eBook, coaching program, or a course from someone who candy coats the business of investing in tax lien certificates and tax deeds and makes it sound like you can”t fail and there are no risks. The truth is that you can fail and there are risks to avoid. Instead buy one of these products from someone who tells you what the risks are and how to avoid them. This will give you a better chance for success in buying profitable tax lien certificates and tax deeds.

About The Author

Joanne Musa works with investors who want to reap the rewards of tax lien and tax deed investing. She is the author of the Tax Lien Lady”s E-books available at http://www.taxlieninvestingsecrets.com

For more about tax lien investing send a blank e-mail to MoreTips@taxlienconsulting.com.

By Rory Santos

In America, a country founded on private property rights, there is one industry that will never have to worry about going out of business, and that is the Real Estate industry. As long as there are people living in this land, there will be a need for property to build on and houses to live in. Now, occasionally an individual real estate company or agent may go out of business, and at times certain tactics change, but the industry as a whole will always be here.

Even if people decided to live in mud huts or tents, they would still have to build those mud huts or tents and place them somewhere. It”s funny, because when you think about it, a plot of land is really just a big piece of dirt – but that big piece of dirt, and what you put on it, will always have value to someone. One thing that helps determine that value is the most recent price someone has agreed to pay for a comparable property in the same area.

To see this in a larger and perhaps more overlooked way, the factors that help determine property values have everything to do with the very nature of human beings themselves. The purchase of a house includes some of the biggest financial and personal considerations most people will make in their entire lifetime. The place where you raise your family, entertain guests, commute from, work, rest, live and even die in – your home, truly is your castle. All the various personal dreams and expectations that attract people to this iconic American ideal add up to be votes for its value, as well.

Some may ask, “What happens if we run out of land to build on?” Figures from the 2000 Census show that, contrary to popular misconceptions, at least 94.6 percent of the United States is open rural land! Data from that same census shows that even California, the most populated state in the nation, is not more than 8.6 percent developed!

The US Census Bureau also reported that as of March 2008, the total number of housing units in the United States was 129.4 million, and 2.3 million of those were for sale. The Bureau”s latest (2006) estimate of the country”s population is almost 300 million people.
There may be different ideas as to what exactly the Real Estate industry is going to look like in the near future, but one thing is clear: with the amount of available product and consumers in this nation, Real Estate is not going out of business any time soon.

About The Author

Rory Santos has a personal passion for the real estate and beaches along California”s beautiful Central Coast because it”s where he grew up. He helps others learn about the fabulous Central Coast California Real Estate market at http://centralcoasthomesandproperty.com.