US Real Estate News

The fall of the housing market in the US has done some curious things to the rental market. In some areas rents dropped, in other areas rents kept on climbing. Real estate in California has seen the bottom fall out, but rents are rising in many areas.

Looking for a good deal on rent in a dynamic city? Consider Phoenix, where the median price for an apartment fell this year to $939 per month, down about nine percent from $1,035 in 2007. Or maybe give Austin and Miami a shot, since both markets saw median rents fall by three percent, to $907 per month and $1,368 per month respectively. Willing to pay more for a spendy metropolis? Then you won’t mind that the median monthly rent for a New York apartment climbed nine percent to $1,751 and that Seattle’s rent rose 10.3 percent to $1,211 per month. Article.

Home buyers and potential home buyers in the US are afraid of what lies ahead.

In a vivid sketch of how the sputtering real estate market is causing distress throughout the country, the Associated Press-AOL Money & Finance poll found that more than a quarter of homeowners worry their home will lose value over the next two years. Fully one in seven mortgage holders fear they won't be able to make their monthly payments on time over the next six months. Article.

Foreclosures Make Denver Risky

Forbes.com has published a list of the top 40 most risky cities in the US real estate market to invest in. Denver is in the top ten because of the sheer number of foreclosures that are taking place in the city.

Detroit was the riskiest market on the Forbes list, followed by Orlando, Fla.; Cleveland; St. Louis; Miami; Las Vegas; Sacramento, Calif.; Denver; Tampa, Fla.; and Phoenix.
Denver's ranking was based largely on the number of foreclosures the city has experienced, which amount to 2.6 percent of the market, according to Forbes.com.
"What's less risky than other markets is that despite the national economic downtown, Denver continues to add jobs, with a job growth rate that's held steady at about three times the national average," the online article said. Article.

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Spring Time: Will Real Estate Recover?

Some will always prosper despite the shape of the economy. Lawyers are part of the 'always prosperous' family. With the number of real estate foreclosures in Florida the Law firms are raking in the cash. Real Estate in the US is in rough shape but law firms are increasing there staff to deal with foreclosure madness.

"As you know, Florida has very high foreclosure rates because of the boom in real estate in Sarasota and in Tampa," said Ken Goins, chief executive of foreclosure processing firm Prommis Solutions, which is seeking to expand into Florida. Prommis Solutions is owned by Boston private equity firm Great Hill Partners.
Because of the subprime mortgage mess, foreclosure filings by banks and mortgage servicing companies in Hillsborough County Circuit Court - as in other courts in Florida - have more than doubled since this time last year. According to clerk records, there were 1,475 new mortgage foreclosure suits in Hillsborough County in February compared with 562 cases in February 2007 and 271 cases in February 2006. Article.

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Slumping Home Sales: Lower Still

Home sales in the US are still falling, reaching lows not seen in decades. US real estate has taken a beating in the last 24 months due to the credit crisis and rising building costs.

The number of unsold homes on the market at the end of the month represented a 9.8 months' supply at the February sales pace, the same as in January. That was the highest inventory level in more than 26 years and reflects the fact that increased numbers of mortgage foreclosures are dumping even more homes on an already glutted market. Article.

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New USA Listings

Snap Up Real Estate has some great new listings of properties in the US. A historic home in Scarborough, Maine can be yours for only $250K. If sunny spots are more your flavor a remodelled home in Saint Petersburg, Florida can be had for only $280K. Lastly for the investor an income producing commercial building in Redford, Michigan for only $570K.

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USA Real Estate Deals

Real estate in the USA may be experiencing a downturn, but they are still great deals to be had on vacation getaways, commercial property, and good family homes. Check out Snap Up Real Estate's latest offerings.
$363K for and Ann Arbor, MI Condo, over 1000 Sq/Ft
$235K for over 1/2 Acre building lot in a gated community in Houston, TX
$158K for a 3 bedroom Home in Kuna, ID - large .15 acre lot too
$215K for a 3 Bedroom gem in Lakeland, FL - Enjoy the sun

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Great Florida Real Estate Bargains

Everyone knows that the real estate market has fallen out of the bottom in Florida. This means that you can now get a great deal on a piece of property in the sunshine state. Check out these Florida Real Estate deals available on Snap Up Real Estate.

A new 2 bedroom townhouse in Panama City Beach, Florida for under $208K.
An established patio home in Bayonet Point, Florida for $140K. That is with an inground pool.
A 3 bedroom manufactured home in Panama City Beach, Florida for under $100K. It sits on a 3/4 acre lot.

It is a great time to buy real estate in Florida if you plan on hold the land for a while, over 5 years. Canadians have a great opportunity to buy retirement homes now, while they are still affordable, and the dollar is at par.