real estate prices in
Towards Liberty International Society for Individual Liberty > Don't Get Stuck Paying "Zombie" Debt – Towards Liberty – A commentary on current events by Jarret Wollstein The Coming Real Estate Collapse – 05-24-05 – As real estate prices in much of the U.S. continues to soar, evidence is growing that both commercial and residential real estate is greatly over-priced in many of the country's hottest markets – including New York City, Boston, Washington, D.C., Miami, and much of California. One clear indication that real estate is overpriced is that rents are now a fraction of mortgage payments, and are continuing to fall in terms of real dollars. For instance, Forbes reports that cash return on income-producing real estate has fallen from 9% a few years ago, to just 5% to 7% now, and is likely to go lower. You can clearly see why rents are falling in overheated markets like California's Silicon Valley. In the San Francisco-San Jos corridor, there is currently over 33 million square feet of un-rented (and in many cases never occupied) commercial space. Last year, just 65 thousand square feet of this enormous inventory was rented. At that rate, it will take over 507 years to rent all unoccupied commercial real estate in Silicon Valley. Since most investors can't wait over half a millennium for returns on their capital, what's more likely is that commercial real estate prices in this "hot market" will soon fall like a rock. Another indication that real estate is poised for a fall, that fewer and fewer people can afford today's astronomically-priced houses. For instance, in California – where ordinary 2,000 square foot, 3-bedroom homes are going for $500,000 to $2,000,000+ – less than one family in six now qualifies to repurchase their own house. Another indications that real estate is ready for a fall: Of 362 U.S. metropolitan areas, about 15% are experiencing a housing "boom" – a three-year, inflation adjusted price gain of 30% or more – according to the Federal Deposit Insurance Corporation. That's the highest number of boom markets ever recorded in the 30 years that they have been tracked. In Americas hottest real estate markets – including the big cities in New York, Florida and California – housing prices went up by 15% to 35% in the past year alone. This is clearly unsustainable. No matter how low interest rates are and no matter how many schemes George Bush comes up with for an "ownership society," it's clear that we are rapidly reaching the point when hardly anyone can afford to buy a new house in a hot real estate market, without putting their financial future in jeopardy. So what's propping up the real estate bubble, and causing housing prices to go ever-higher, even as rents fall and commercial landlords face enormous vacancy rates? Besides artificially low interest rates, the answer, in a word, is speculation. Up to one residence in three in California is now purchased not to live in, but for resale, according to the San Francisco Chronicle . The comparable figure may be as high as one property in two in the Las Vegas area. In downtown Miami, 80% of approximately 35,000 new condos now under construction or just completed, are owned by investors – not people who actually plan on living in them – according to MoneyNews.com. Call it the triumph of delusion over reality. I can't tell you how many people have told me that real estate price "can't fall, because if they did, they would be bankrupt." In other words, because they want prices to stay up, they must stay up. If you believe that, there is a nice three-bedroom fixer-upper on a dirt lot, and on the edge of an eroding cliff, in Pacifica, California, I'd like to sell you for just $2.5 million. Buy this bargain now, before the price really goes up! (This is a real example.) In the current frenzied real market, self-delusion is rampant. In Florida's red-hot real estate market, one Miami realtor recently told the New York Times , "South Florida is working off a totally new economic model than any of us have ever experienced in the past." That's precisely what executives of dot coms told investors to justify their astronomical stock prices, just before the collapse – which triggered the destruction of over $3 trillion in stock value. Unfortunately, for many overextended home owners, property prices aren't immune to the laws of economics. Property prices can and do fall in America, as witnessed by the bear markets of 1974-75, 1980-82 and 1990-92. A personal example: One Northern California home owner I know bought his 2,000 sq. ft. house for $750,000 in 1989. In 1992, he was couldn't get $450,000 for his property, and was forced to declare bankruptcy after he lost his job. Millions of overextended American families with "interest only" and adjustable rate mortgages will likely find themselves in the same boat, when mortgage interest rates edge up above 7% or 8% – which is likely by the end of this year. (Fed Chairman Alan Greenspan has warned that we can expect at least a 2.25% increase in interest rates in 2005, on top of the 2% increase in 2004.) The brutal financial reality is that a mere 2% rise in mortgage rates, can increase ARM payments by as much as 40% – an unsustainable burden for families living on the edge. One way or another, at best , the U.S. real estate bubble has 1 to 2 more years to run before it collapses. If you or your children are among those living in overpriced homes you can barely afford, NOW is the time to sell, when the market is at or near its peak, and before prices drop by 30% or more – and they find themselves living in a Motel 6 or in your basement. To minimize taxes on the profits, reinvest in a home in a small town or rural area where prices arent so absurd, and bank the rest. Please stay in touch! Add yourself to our e-mail list. Two times per month we send an update on the activities of our members and new features at ISIL.org. Simply enter your e-mail address here and click the button. You can easily remove yourself (unsubscribe) at any time. E-mail us at isil@isil.org if you have any personal questions or comments. E-mail address: Subscribe Unsubscribe
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California Department of Veterans Affairs - CalVet Loans California Home CDVA Home About us Frequently Asked Questions CalVet Home Loans Homes for Sale Veterans Homes Veterans Services Women Veterans Memorials & Cemeteries Vets License Plates California Veterans Board News, Events and Announcements Employment Opportunities HIPAA at CDVA Links to Other Sites Contact Us Site Map CalVet Loans Now is a Great Time to use a CalVet Loan! If you're ready to buy a home, CalVet is here to meet your home financing needs! You will find manyfeatures and benefits with a CalVet loan that will save you money and help protect your investmentfor your family. We offer below market interest rates with low or no down payment that increase your purchasing powerand keep your payment down. We have expanded eligibility so that nearly any veteran wanting to buya home in California is eligible. We currently have funds for all qualified wartime era veterans,regardless of when they served in the military. We also have funds available for peacetime veteranswho qualify as first-time home buyers or purchase homes in certain target areas. Your may receive free prequalification for a CalVet loan by clicking on the Apply Online button on thispage, or by downloading and completing our prequalification form and sending it to your local CalVet office . -- --Apply Online Check your eligibility for CalVet Home Loans, see what loan amount you may qualify for, orfill out and submit a loan application on the property you have selected. My CA This Site More information on CalVet Loans: CalVet Loans Frequently Asked Questions (FAQs) Current CalVet Interest Rates For Prospective Buyers For Current Contract Holders For Real Estate Professionals For Everyone: CalVet Homes for Sale Contact one of the CalVet Offices CalVet Home Loans Strategic Business Plan 2004-09 FY Help Preserve the CalVet Program. Information about HR 2952 Call or write us: California Department of Veterans Affairs Division of Farm and Home Purchases P.O.Box 942895 Sacramento, CA 94295-0001 (800) 952-LOAN Back to Top of Page © 2003 State of California. Conditions of Use Privacy Policy
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Apartments.com - Free Nationwide Apartment Search with the Most Visual Rental Listings Online. 2005 People's Voice Webby Award Search millions of apartments, condos and houses for rent. Corporate, senior, and student housing, too! Map City / Zip Name Web # Corporate Housing Enter a property name, city and state to get more information about a specific rental community. Property Name: City: State: - Select a State - Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington Washington, D.C. West Virginia Wisconsin Wyoming More Listings from more sources... so you can find a better place and a great deal! Newspaper Listings Hidden gems found only in your local paper and here! Private Landlords Unique spaces that feel like home. Managed Communities Professionally run & well maintained. Move in today. Short on time? Get new apartment listings emailed to you . Have a Vacancy? Reach thousands of renters! Enter Zip: Renew/Edit your existing listing Get Help with Your Move Free Credit Reports | Find a Roommate | Moving Quotes | Auto Insurance Quotes | More Services Support Hurricane Katrina relief efforts. Search Rentals by Top Cities - Albuquerque apartments - Allentown apartments - Atlanta apartments - Austin apartments - Baltimore apartments - Birmingham apartments - Boston apartments - Charleston apartments - Charlotte apartments - Chattanooga apartments - Chicago apartments - Cincinnati apartments - Cleveland apartments - Columbus apartments - Dallas apartments - Dayton apartments - Denver apartments - Detroit apartments - Durham apartments - Ft Lauderdale apartments - Fresno apartments - Greensboro apartments - Hampton Roads apartments - Hartford apartments - Honolulu apartments - Houston apartments - Indianapolis apartments - Jacksonville apartments - Kansas City apartments - Knoxville apartments - Las Vegas apartments - Little Rock apartments - Los Angeles apartments - Louisville apartments - Madison apartments - Manhattan apartments - Memphis apartments - Miami apartments - Minneapolis apartments - Nashville apartments - New Orleans apartments - New York apartments - Norfolk apartments - Oklahoma City apartments - Omaha apartments - Orlando apartments - Philadelphia apartments - Phoenix apartments - Pittsburgh apartments - Portland apartments - Reno apartments - Richmond apartments - Rochester apartments - Sacramento apartments - Salt Lake City apartments - San Antonio apartments - San Diego apartments - San Francisco apartments - San Jose apartments - Seattle apartments - St Louis apartments - St Paul apartments - Tampa apartments - Tucson apartments - Tulsa apartments - Washington DC apartments - Wilmington apartments Click Here! ');}//--
Real Estate Prices
Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages on Yahoo! Real Estate Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages Choose Location Home Homes for Sale Apartments for Rent Home Loans Moving & Insurance Tools My Real Estate Hurricane Katrina Resources Features Classifieds • Sell Your Home • Rent Your Apartment Home Loans • Mortgage Rates • Online Rate Quotes • Refinance Loans & Rates • Home Equity Loans & Rates • Free Credit Reports Resources • Find & Compare REALTORS • Find a Mover Insurance • Homeowner's Insurance • Renter's Insurance Tools • What's My Home Worth? • Research Neighborhoods • Free School Reports • Foreclosure Center • Home Service Center Commercial Real Estate • List Commercial Property National Mortgage Rates Thu Dec 29 Mtg Loan Rate APR 30-yr Fixed: 5.70% 5.88% 15-yr Fixed: 5.27% 5.57% 1-yr ARM: 4.53% 6.89% See Local Mortgage Rates Provided by Bankrate.com Neighborhood Profile Research neighborhoods nationwide! City, State, or Zip: Real Estate Listings Browse by City New! Home Loans Center - Find, Compare, & Graph Rates Find a Home Find a Rental City & State, or Zip: Price Range: $0 $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million to No limit $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million Beds: Any 1+ 2+ 3+ 4+ 5+ Baths: Any 1+ 1 1/2+ 2+ 3+ 4+ 5+ Search For: Existing Homes Yahoo! Classifieds New Homes Foreclosures Advanced Search Search Commercial Real Estate Mortgage Payments Calculate your biweekly & monthly payment for different loan amounts, interest rates and amortization terms. Loan Amount: $ Term (years): Interest Rate: % Show table?: Yes No See More Loan Calculators Sponsored Links Refinance Now with Oak Street Mortgage Do you have less than perfect credit? Let Oak Street Mortgage help you find a loan that meets your needs apply today its quick and easy. www.oakstreetmortgage.com Refinance Rates as Low as 2.9% Refinance - up to four free quotes. Compare rates and choose a great offer within our network. No obligations. Bad credit - OK. www.homeloantrust.com Capital One Refinance Lower your payments an avg. $400 a month. A personal home loan consultant will work with you to find a loan that fits your needs. Apply online and receive a call back within 30 minutes. www.capitalone.com (Become a Sponsor) Partner Spotlight Featured Sponsor Find a Local REALTOR by HomeGain • Find & Compare REALTORS • Get Home Prices Featured Videos Dream Home Videos by Inman Stories Real Estate News Financing your first real estate investment Dec 29, 2005, Inman News Top Mistakes of Home Buyers and Sellers in 2005 Dec 29, 2005, Realty Times Housing Affordability Hits 14-Year Low Dec 22, 2005, RealEstateJournal.com Home loan applications fall to over 3-1/2-yr low Dec 28, 2005, Yahoo! Finance Weekly Home Mortgage Rates (AP) Dec 28, 2005, Yahoo! News Despite Decline, Housing Still Strong Dec 28, 2005, Quicken Loans more real estate news Homes For Sale - Apartments For Rent - Current Mortgage Rates - Real Estate Agents - Local - Yellow Pages
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Conservation Trust for NC - Emergency Land Protection Loan Fund Blue Ridge Parkway Project Statewide Land Protection Programs Regional Partnerships Emergency Land Protection Loan Fund Conservation Properties for Sale info@ctnc.org 1028 Washington St Raleigh, NC 27605 919-828-4199 (Tel) 919-828-4508 (Fax) Emergency Land Protection Loan Fund The Conservation Trust for North Carolina operates an Emergency Land Protection Loan Fund to enable land trusts to increase their ability to respond to time sensitive land and water protection needs in their communities and regions. The Emergency Land Protection Fund is critical to the protection of properties highly threatened by development. The Conservation Trust has operated the Fund since 2001 thanks to generous donations from a key supporter. One hundred percent of the Emergency Land Protection Loan Fund is invested in land. Loans from the fund are repaid by local land trusts within twelve months at a low interest rate, allowing funds to be continuously reinvested in highly threatened properties. Thus far, the Fund has been used to protect 974 acres in North Carolina’s mountains. The vast majority of the funds are dedicated to protecting land in the mountains. Properties protected through the Emergency Land Protection Loan Fund Ruby Bend - Land Trust for the Little Tennessee The protected property consists of 61 acres on the Little Tennessee Rive in Macon County. The property is adjacent to the Needmore property, which has been the state’s highest priority river conservation project in Western North Carolina. The land helps to protect half the native freshwater fish species in the state, including the state’s greatest cluster of freshwater mussels. Beech Creek Bog - Blue Ridge Rural Land Trust This 120-acre bog is the largest and the most pristine example of a bog community existing in the state. The bog was transferred November 1, 2002 to NC Parks and Recreation and will be managed for the public to enjoy as the new Beech Creek Bog State Natural Area. Water Quality and Endangered Habitat - High Country Conservancy This 22-acre parcel in Watauga County was purchased to protect forested mountain slopes containing habitat for rare and endangered species, a buffer zone for a protected old-growth forest on Blue Ridge Parkway land, and a tributary of Winkler’s Creek - a source of the town of Boone’s water supply. Catawba River - Foothills Conservancy of North Carolina This 771-acre tract in McDowell County was given a highest preservation priority on the Catawba River Headwater Streams Riparian Conservation Design. The undeveloped forests on the property hosts seven source water streams, five of which drain to the Left Prong of the Catawba River. The property also protects scenic vistas from the Blue Ridge escarpment between Black Mountain and Old Fort. Home • About Us • Land & Water Protection • Policy/ Adcovacy Events/ Press Room • For Landowners • Partners • Find Your Local Land Trust