Real Estate Prices

Housing prices can go down. - Sep. 19, 2005 Web CNN/Money Home News Markets Technology Commentary Personal Finance Autos Real Estate Real Estate Buying & Selling SAVE | EMAIL | PRINT | SUBSCRIBE TO MONEY | Real estate: When booms go bust... Home prices can and do go down. Here's what declines have looked like in the past. September 19, 2005: 6:21 PM EDT By Les Christie, CNN/Money staff writer NEW YORK (CNN/Money) - Across America, real-estate prices continue to confound the skeptics. Many Americans have come to think of their homes as rock-solid investments with little downside. And why not: For the past 40 years, national home prices have surpassed inflation by a percentage point or two on average and there has never been a national real-estate bust. But are people ignoring the risks? "I think Americans are not well aware that many markets are risky," says Ingo Winzer, president of Local Market Monitor, which sells real-estate market analysis to corporate and consumer clients. Those investors should realize that price reversals do happen, even if only locally rather than nation-wide. A look at the not so distant past reveals numerous examples of cities that went through housing busts -- followed by years of falling prices. Some have never fully recovered. Once hot, then not Take Los Angeles, where real estate has been turbocharged for nearly 10 years. But the early 1990s were a different story; the average house price in L.A. dropped from $222,200 in 1990 to $176,300 in 1996, a loss of 20.7 percent. Furthermore, those are nominal prices, not real values. To calculate the loss more realistically you would have to figure in the cost of inflation: $222,200 in 1990 would have been worth $266,700 in 1996 dollars, which means the actual loss for homeowners buying in 1990 and selling in 1996 was closer to 34 percent. Not exactly the Nasdaq meltdown for investors, but getting closer. But that's L.A., where the aerospace- and film and television production-based economy can be a bit volatile. What about cities in more traditional areas? How did things play out in Peoria, Ill. for instance? Not well, not in the early 1980s at least. Peoria experienced real-estate price drops amounting to more than 15 percent tied, in part, to strikes and lay-offs at Caterpillar, the city's biggest employer. In 1981, the average home there sold for $60,800. By 1985, that had dipped to $51,400. "Oil patch" cities, suffered even sharper declines. In Oklahoma City prices plummeted 26 percent from 1983 to 1988. It took 15 years for prices there to return to nominal 1983 levels. Houston home prices fell 22 percent from $111,000 to $86,800, and also took 15 years to rebound. Counting inflation, the average Houston home, which cost just $159,700 in 2004, is actually worth less now than it was 22 years ago. When, adjusted for inflation, a home cost about $219,000 in 1983. In Oklahoma City, the inflation-adjusted price in 1983 was $196,600. Today, it's just $135,100. The boom will end, but when? History seems to dictate that the current price boom is at risk. One factor is that real-estate investing has spiked, pressuring prices upward. In Phoenix, according to Bill Jilbert, president and COO of the Coldwell Banker brokerage there, investors from Nevada and California have invaded the Arizona market, and "affordable housing has been pushed to extremes." That story is echoed in many local markets. Low interest rates have also kept real estate bubbling. Cheap mortgages enable entry level buyers to get into the market and wealthier ones to afford more expensive houses. That means higher demand and higher prices at all market levels. Winzer says that low rates "have extended the cycle." Winzer assesses local market risk by taking into account economic and population growth, construction costs, vacancy rates, and, especially, income. He also considers such factors as density and access to open land. Prices in densely settled New York have always been higher than those of cities with lots of space for new housing. Winzer considers real estate "very risky right now." And because the price run up has been so high he expects the adjustment period where home prices stagnate as income catches up -- to take a very long time. Before they purchase a home, buyers better figure on scenario of many years of little or slow home-price appreciation. Counting on home price increases could be a big mistake. The boom has already gone on longer than Winzer thought it would. "Bubbles do tend to last longer than most people expect," he says, "and end quicker." _____________________________________________________________________________________ Think you're living in a bubble? Here are four strategies . Watch out: 5 crazy loans that could hurt you Hot markets have not slowed much yet. See that story by clicking here . For more articles on Real Estate, subscribe to MONEY Magazine . The Hot List Most profitable renovations How risky is your 401(k)? Big new tax credits for hybrid cars More Buying & Selling Least affordable rental markets Take this home market...and love it Double jeopardy for landlords contact us | magazine customer service | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business2.0 = Money subscribers = Premium content -- * - Time reflects local markets trading time. † - Intraday data is at least 15-minutes delayed. Disclaimer © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available. Top Stories Most overvalued housing markets Risks to the economy in 2006 Which was the worst ad of all in 2005? After the ride, a rest Hilton brands reunite after 40 years YOUR E-MAIL ALERTS Follow the news that matters to you. 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Purchase Property

Construction News Special Focus X-Communication and X-presso Books: Tony Dierckins Around The Region Role of women in region's economy grows: wages are rising but it remains a perilous place for single mothers On The Move NRRI Forest Products promotes lean manufacturing processes News Makers Newsmakers for November-December Construction Minimize risk when you purchase real estate Thursday December 29, 2005 Business News CNNfn CBSMarketwatch Bloomberg Reuters BusinessWeek PRNewswire Political News Salon Slate The Atlantic The Nation Mother Jones Sports ESPN Local Sports Comment on This Story / Send This Article to a Friend Construction News Minimize risk when you purchase real estate 10/14/2005 by Paul Kilgore and Melissa Maloney Purchasing real property involves a substantial financial investment. Whether buying real property to start or relocate a new business, or solely for investment purposes, you can take certain steps to protect your investment. Together, a title insurance policy and survey can protect you from many of the risks. Title Insurance A title insurance policy insures the status of the title to a parcel of real property. Simply put, title means the formal right of ownership of property. While most insurance policies insure against unforeseen future risks, title insurance insures against possible defects in title based on events that have already happened. A title insurance policy may be an owners policy, issued to the purchaser of real property, or a lenders policy, issued in favor of the lender that finances the purchase. An owners policy provides for reimbursement of damages suffered by an owner as a result of title being different than that stated in the title insurance policy. Reimbursement is available up to the stated amount of the title insurance policy. Title insurance also covers attorneys fees and other costs of any covered claim. A lender financing a real property purchase almost always will require the purchaser to obtain and pay for a lenders policy of title insurance. Among other things, a lenders policy insures the lender has a valid, enforceable lien on the purchased property, and that the lien has priority over any other lien. A lenders policy should not be relied upon to protect the purchaser in case of a title defect. Most standard real estate purchase agreements require the seller to pay for and provide the purchaser with a commitment from a title insurance company to provide title insurance. The preparation of that commitment involves a search of the public records to determine the status of title. This process can take a title company a few days or a few weeks, depending on the complexity of the propertys title history. A title insurance commitment is the insurers proposal regarding the terms of the policy. To some extent, these terms are negotiable. The commitment includes the legal description of the property, its fee owner, the proposed insured party, and any exclusions from coverage. A title insurance commitment typically excludes coverage for liens, easements, or mortgages already recorded in the public records, as well as any facts - such as encroachments and roadways - that would be revealed by a survey. The purchaser, rather than the seller, typically pays the one-time premium for an owners policy. This responsibility may be negotiated between the parties. The premium is based on the purchase price. An owners title insurance policy provides coverage throughout the insureds ownership of the property. If it later is conveyed by warranty deed, coverage continues (for the insured party, not to the new buyer) even after the property is conveyed. Survey A property survey is the process by which a parcel of land is measured, and its boundaries and contents ascertained and mapped. The finished product of a survey most often is a scaled drawing that illustrates locations of buildings, fences, streets and other improvements in relation to property lines. A survey assists the parties to a real estate transaction in understanding exactly the property included in the transaction. In Wisconsin, only a professional land surveyor licensed by the states Department of Regulation & Licensing may perform a survey. The cost depends on the characteristics of the area to be surveyed, including the parcel size and level of detail required by the transaction. From the buyers perspective, the purchase agreement should make the obligation to purchase contingent upon an A.L.T.A.(American Land Title Association) survey by a registered land surveyor, with the results acceptable to the purchaser. The purchase agreement also should state who will pay for the survey. It should be ordered early in the purchasing process to allow sufficient time for completion. Obtaining the survey early also will leave time to deal with title defects or other issues the survey may reveal. To remove the title insurance policy exclusion regarding facts ascertainable by a survey, a recent survey performed by a registered land surveyor must be presented to the title insurer, along with the surveyors certificate of no encroachments. An encroachment occurs when a building or other improvement to a parcel of real estate overlaps the boundary line and encroaches onto a neighboring land parcel, or when a neighboring improvement overlaps onto the insured property. Therefore, unless a survey is obtained and the survey exclusion is deleted, a title insurance policy alone does not protect a purchaser if an encroachment is later discovered. The title insurance commitment and survey should be examined by the purchasers attorney well in advance of closing to allow time to work out any title issues and to negotiate the terms of the title insurance policy. The bottom line: A comprehensive title insurance policy and survey protects the buyer from undiscovered title issues and minimizes risk in a real estate purchase. Paul Kilgore is a shareholder at Fryberger, Buchanan, Smith & Frederick, and practices in the areas of real estate acquisition, finance, litigation and mineral rights law. Hes a certified real property law specialist. Melissa Maloney is an associate attorney at the firm, practicing in the areas of commercial and residential real estate. They can be reached at the law firms Duluth office at 218-722-0861. 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Colorado Real Estate

Manual Table of Contents 2005 Real Estate Manual An * in the left margin indicates a change in the statute, rule or text since the last publication of the manual. Revisions since the publication of the printed version of the manual dated July 1, 2005 appear in RED text. Chapter 1. License Law Chapter 2. Rules Chapter 3. Commission Positions Chapter 4. Subdivision Laws Chapter 5. Case Law and Opinions Chapter 6. Interest in Land Chapter 7. Land Descriptions Chapter 8. Deeds Chapter 9. Evidence of Title Chapter 10. Appraisal and Valuation Chapter 11. Water Rights Chapter 12. Brokerage Relationships Chapter 13. Listings Chapter 14. Contracts Chapter 15. Financing Chapter 16. Trust Deeds and Liens Chapter 17. Closing Statements Chapter 18. Escrow Records Chapter 19. Property Management and Leases Chapter 20. Farm and Ranch Brokerage Chapter 21. Business Opportunities Chapter 22. Tax Factors Pertaining To Real Estate Chapter 23. The Fair Housing Act Chapter 24. Related Real Estate Laws Chapter 25. Commission Approved Forms Glossary of Terms (15 Pages) Index (15 Pages) Manual Order Form Updated 08/19/05 Privacy Statement | Disclaimer Technical Assistance: E -Mail Information Technology Section Revised October 27, 2005 Federal Home Page || State Home Page || Department Home Page Division Home Page || Top of Page E-Mail the Division of Real Estate 1900 Grant Street, Suite 600 Denver, CO 80203 (303) 894-2166 or (303) 894-2185 - Phone (303) 894-2683 - Fax Relay Colorado (TTY (English & Spanish), Voice, VCO, ASCII, STS Assistance Numbers)

Sell House

Selling Your House Privately Greater London South West England South Central England South East England North West England West Midlands East Anglia North of England Scotland Northern Ireland Wales East Midlands North East England Min bedrooms: 0 1 2 3 4 5 6 7 8 Min Price £: Max Price £: Sort Results By Prices: High to Low Prices: Low to High Added: Newest 1st Added: Oldest 1st Beds: Highest 1st Beds: Lowest 1st Join My Property For Sale and get a free online portfolio to save details of properties that you are interested in. Setting up your portfolio is totally free and takes less than a minute to do. Just click here to join for FREE! Welcome to My Property For Sale At My Property For Sale, we list property for sale throughout the whole of the UK, we are one of the original "For Sale by Owner" websites, advertising with us will guarantee that your property will be seen! Selling your house ? Give your property the maximum exposure it needs to achieve a sale. Sell your house privately online with our winning home sales package. Buying a house ? Search our property listings by county, bedrooms and price. When you find a home you would like to view, you can either call us on freephone 0800 043 9380 or contact the seller direct from their home selling page. My Property for Sale, THE place to buy and sell property in the UK 3 Bed Detached Bungalow with income 3 Bedroom Bungalow with 1 reception rooms in Urban location. Hayling Ilsand, Hampshire & IOW Price: 375,000 Sponsored by One Account - Flexible Mortgages and Remortgaging Online Latest Properties For Sale Period farmhouse and self-contained flat Coat, Somerset 749,950 Immaculately refurbished one bed flat Camden, London - Greater & Middlesex 214,950 Luxurious, hugely extended 3 bedroom Nuneaton, Warwickshire 295,000 Property Seller Testimonials "I recommend everyone to try a private house sale, selling privately saved me over £6000." Mrs Burgess, Stockport "I contacted your property sales team & they did it all for me. Brilliant." Mr Andrews, London Click here to read some more testimonials from our previous sellers My Property For Sale has been advertising and selling houses since 2001. During this time we have become one of the most successful private house selling websites in the UK. Placing an advert privately on our site can save you £1000's in commission, we are currently listing over 1000 properties on the site for sale. CONTACT US AFFILIATES / WEBMASTERS © MyPropertyForSale 2001 - 2004. All Rights Reserved Site & System Design by Brit-net.com

Investment Property

Investment Property Databank IPD Home About IPD Portfolio Analysis Services Events Indices and Market Information Indices for Derivatives Online Services -- Home Company Overview Directors IPD Measurement Methods Locations Sponsors IPD Links IPD Awards FAQs Press Releases Contact Us Jobs at IPD Company Overview Until recently, IPD was run by a long-established management team, who held majority control in the equity of the business. The core of Directors - including co-founders Rupert Nabarro and Ian Cullen - have been with the company from start-up in 1985. The rest of the Board comprises respected experts in their fields, most with at least ten years' IPD experience. To guarantee its independence, the company is devoted exclusively to the objective measurement and analysis of property. It does not invest in the market, and does not offer any direct investment advice. Our headquarters and central processing facilities are in London. An all-graduate staff of over 100 includes economists, surveyors, statisticians and IT specialists, in teams dedicated to major business areas and clients groups. IPD services outside the British Isles are run in conjunction with partner organisations in each country. These arrangements are developed flexibly with local needs and conditions, sometimes through an existing professional or trade association, in other cases through joint-venture or subsidiary companies. Both in the UK and overseas, IPD's technical and product development are attuned to the needs of users through networks of expert and advisory groups. Continuous development ensures that our services stay at the forefront of technical advancement - in property measurement, in benchmark and index construction, and the electronic delivery of outputs. Our current initiatives include work on the standardisation of valuations and property data, the regulation of benchmark reporting, and higher-frequency data collection and reporting. 1 St. John's Lane London EC1M 4BL Tel: +44 (0)20 7336 9200 Fax: +44 (0)20 7336 9399 Privacy Policy | © 2005 IPD Ltd. All Rights Reserved. Home | About IPD | Portfolio Analysis Service | Events | Indices and Market Information | Indices for Derivatives | OPD Designed by Webrepro