Foreclosure news is causing home buyers, particularly real estate investors, to realize that it is the proper time to buy real estate properties in view of the continuing drop in home values. The rate of foreclosures has slowed down but there are still a lot of foreclosed homes that are for sale and their prices are still dropping. The average home values for foreclosures in the different states indicate that single-family homes, condos, duplexes...more
Many people think that buying property can be a complicated process. In breaking with this tradition, Umbrella Real Estate believes that we can overcome this complication. This step-by-step guide has been designed to walk you through the process of buying property.Step 1: Register Your Interest - The first step is always to contact us by calling our landlines or by registering your interest online or via e-mail. We recommend you go directly to...more
When you rent, most people mistakenly assume the decision is made out of necessity, not rationality. But there is a very good reason to rent in today's recession-stricken market: median incomes do not support median home prices.The problem is not just the recession. The home prices that we are seeing today fluctuate or rise according to factors in the recession. Because of this, home prices have deviated from the fundamental formula that has always ruled the Philippine real estate market. Median home prices increased by nearly 50 percent in the last decade. On the other hand, the median income has only gone up 10 percent in the last ten years - a very meager increase compared to the change in home prices. Incomes simply cannot support the recession-inflated prices. Filipinos earning the median income have no chance of reasonably affording a median priced home with a conventional home loan. In the past 5 boom years many borrowers did not take out conventional financing to purchase their home. Instead, they got caught up in the housing frenzy and took out ultra-risky and sub-prime mortgages just to get into the market. The result has been many foreclosures and a partial meltdown...more
The recession experienced all over the world (and especially here in the Philippines) has caused prices of properties to drastically fall. Others might think that the drop in property rates is a good thing as more people can now afford to purchase their own property.On the contrary, acquisition of Philippine real estate has become harder than ever....more
1. High Rates of Inquiries - Umbrella Real Estate is fast becoming one of the Philippines' most recognizable Philippine realty brands attracting hundreds of buyers every month. In addition, our advanced technology allows us to market your property to buyers across a vast network of online resources. Our vast listings of Manila homes, Manila...more
1. Builder reputationNew construction Miami luxury homes are serious undertakings, not to mention pricey. So to make sure that everything will be perfect right from the start, make sure you get a commendable builder. The person you choose must be cooperative and open to communication and suggestions. This is a home you plan on living for the next several years, so make sure you really get what you want, and everything is up to par with your preferences. 2. Construction DesignNext, you must know everything about the design of your future Miami luxury home. While a great design rarely translates into sturdy structures, you can still guarantee the future of your home by getting involved in the process. Researching on safety and maintenance issues of new construction homes is one way to do this. Another is to ensure that the systems, i.e. water drainage, electrical wiring, insulation, etc., should be correct. And to make sure that everything is precise, consider hiring a building inspector who is not associated with the company your builder is from.3. ExecutionThe ability of your builder and his level of workmanship play a major role in ensuring the structure of your future home....more
1. Full FinancingYou might have heard of zero-down financing mortgages. Even in todays economic and credit crunch, you can still buy a Miami Beach real estate home without any money down, at the cost of future financial woes. Homebuyers who cannot...more
Years ago people would look for a house to buy that was in a place they wanted to live for a long period of time.They were looking in a specific location that had amenities the home buyer wanted like great schools, cute houses, restaurants and...more
Its something we need to study. It really matters at resale if you are in an area where people are looking for homes.New homes are only new until someone lives in them. Then they are just another resale on the market with thousands of others. In bad...more
We always approach home ownership from a business perspective. You know the old buy low, sell high. And its OK to haggle over the price you pay, in spite of the TV shows that are trying to train us to always pay asking price and skip inspections....more
1. Closing day surprisesYou just made an offer to the home for sale you plan on buying; now youre just waiting to close then surprise! Your lender tells you that your interest rate has increased while during escrow. Worse yet, unexpected closing...more
With a wide range of properties being offered at highly reduced prices and bargain deals through Louisville foreclosures, home buyers have been presented with a unique investment opportunity. Compared to other real estate ventures, purchasing a...more