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Archive for February, 2009

Buying a home is a big-time real estate investment and has to be done with great prudence. Knowing where not to buy a home is as important as are the dos and don’ts of buying a home.

Of the many top ten lists on CNNMoney.com, there is listed the top ten overvalued cities in America where it is better not to buy a home for the next two years or so. The report states a variety of reasons for the unfavorable market conditions.

Five cities in California – Bakersfield, Fresno, Merced, Sacramento and Stockton, figure among the top ten cities that have the least possibility of home price appreciation. Home prices have reached a new high (by nearly 60%) in these areas over the past two years. With an economy driven by agriculture and relatively higher unemployment rates anticipated for that area, the real estate market is predicted to slump in the region.

Although three cities in Florida are recommended as good real estate buys, the report also cites four others in Southwest Florida that fall among the very bottom of the list. With home prices here expected to plummet very soon, cities like Fort Myers, Naples, Punta Gorda and Sarasota are those that one would do best to avoid for a year’s time or so, while buying a home or a condo.

Market prices are expected to decline in the Jersey Shore (New Jersey) area that saw a radical boom in the last two quarters. Although home prices in the third quarter have rebounded from the slight drop during the second quarter, the bubble is expected to burst soon and the overpriced market is likely to stabilize. The popular seaside cities of New Jersey, Atlantic City and Ocean city are anticipated to fall under the unfavorable list.

In Phoenix, Arizona, a hot favorite among investors last year, sliding home prices may to be an unavoidable occurrence in the next 12 months. With home prices dropping by more than $100,000 in some residential developments and investors trying to sell off their property, it is safer to wait for a year or longer before investing here.

Economists at Moody’s Economy.com also predict a sharp decline in Riverside and San Bernardino counties, California’s Inland Empire.

The bottom ten cities that are likely to see major drops in median home prices during the coming year are Stockton, (leading the list with a predicted fall of 9.7%), Merced, Reno/Sparks, Fresno, Vallejo/Fairfield, Las Vegas, Bakersfield, Sacramento, Washington, D.C and Tucson.

Given these fluctuating real estate market conditions, one should exercise a great deal of caution when investing in real estate. It makes sense to get the expert advice of a real estate agent to advise you about your next home purchase, since agents often have access to the most up-to-date real estate market data and neighborhood pricing trends.

Gurgaon—the most happening business destination in northern India—is also a dream location to reside.

As a subject of intense commercial development, companies operating their businesses from Gurgaon are on streak to expand their operations.

As we know that the IT and its related industries like ITeS and BPO have already set a strong foothold in this integral part of National Capital Region (NCR) region, other industries like banking, financial, automobiles and telecom have also strengthened its roots in the thriving economy.

The all around expansion activities in the city have paved way for a massive number of people to pursue a host of employment opportunities available here.

Now that you are employed, you need to have a home at top priority. Of course, you need to know the scenario of rental property in Gurgaon before arriving at any decisions.

A backgrounder

To your delight, Gurgaon offers you an enviable quality of life. The city with an area of about 2,100 sq. km. is comparatively smaller than the metropolitans but is never behind in terms of ongoing developments and growth potential.

As far as housing in Gurgaon is concerned, you can always choose among flats, independent floors and duplexes. Generally, renting apartment in Gurgaon is considered as the most feasible option.

Most of the apartments are equipped with facilities like power back-up, cupboards, etc along with the general ones like constant water supply, security system, spacious parking lots, gardens etc.

The rentals vary from Rs 7,000 to Rs 1-lakh a month, depending upon the location, area, quality of construction and associated facilities.

Don’t go astray

Moreover, a number of residential projects are underway all around and there is a regular addition of newly-built flats in Gurgaon. India’s most prestigious real estate developers like DLF, Unitech and Ansals have set their base in Gurgaon and have several successful residential projects in credit.

However, the issue comes in the form of getting the house of your choice and comfort within a strict timeframe. In order to rent a flat, you can seek professional assistance to avoid wastage of time, money and energy in searching a house at nooks and corners of the city.

With house prices being so much cheaper in France than in the UK it is tempting to pile in and buy a place straight away. This temptation is getting harder to resist due to the inevitable rise in property prices in France due to the influx of ‘cashed up’ Brits, certainly in the more popular locations.

So, why should I rent property in France? you may be asking.

So many factors aren’t immediately apparent when considering buying a home in France and it’s easy to fall foul of the end of house hunter holiday panic buying. People have bought the place of their dreams only to find out too late the money required to refurbish it is over their budget. Other aspects not immediately apparent when caught up in the excitement of a beautiful, rural property purchase are the 45 minute drive to reach a town starts to lose it’s appeal especially when you forget something off your list, after all it’s not like nipping out to Sainsburys.

The worry of being so remote if the unthinkable happened and you were to suffer an accident is something many people won’t consider possibly until the first heavy snowfall cuts them off with no power, no phone and a 10 mile walk to get to the nearest house. Well at least the oil fired heating will still work in the event of a power cut wont it? …. Not without a generator to run the fuel pump it won’t…..

For some people this may be part of the adventure but for others it can creep up and slap them in the face when they least need it or it may just be a constant worry nagging in the back of their mind, what if? What if?

How important is it to know you’re buying a place where you want to live that is everything you really want and expect?

Rent a French property long term before you buy, try it out and know for sure you want to buy a place in France and that you want to buy a place that is where it is.