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Building a Garage Addition to Your Home
One of the most rewarding home improvements I made to my house was to build a garage addition. For years I contemplated building a garage addition while I scraped the ice and snow from my cars and waited for them to warm up during the winter months....
How To Buy Bargain Property At Auction
Do you want to invest in profitable property or simply buy a new home at a bargain price? If so, you want to consider property auctions.
Properties sold at auction are often owned by mortgage lenders after repossessions, former council / housing...
Negotiating The Sale Of Your Home
Negotiating a successful sale of your home requires an environment that sustains the buyer's interest and trust during the process. Many of our clients have been very experienced negotiators, and from them we have learned that the goal is to reach a...
Preparing your house for inspection
Get the most out of your house inspection with some basic preparation
Before the inspection
Before visiting the site, check with the local jurisdiction to determine:
·The site's zoning, setback, height, and building coverage requirements,
...
Ten Things You Must Know When Building or Renovating
There are many sad cases of home renovations not going as planned - often going way over budget or schedule, or unforseen complications popping up unexpectedly and ruining even up to years of work.
Most of these situations would never have gone so...
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Real Estate Boom To End? – No!
The naysayers are proclaiming the end of the real estate boom once again. Once again, they are wrong.
Boom, Boom, Boom
In recent years, it's impossible to turn on the television or read the headlines without seeing a warning of impending doom. Experts claims there is a housing bubble and it is about to burst. Should first-time and move-up homebuyers be concerned? No.
We keep hearing about the bursting bubble, yet the real estate market continues to boom. How can this be? Demographics are the primary reason.
The most significant and frequently mentioned demographic is the "Baby Boom" generation, which refers to children born in the years following World War II. Economic forecasting expert and author, Harry Dent, has written extensively about how property buying habits occur in a predictable fashion as a generation ages. From needing an apartment in college, to buying a starter home and eventually trading up to something larger, it is all cyclical. Since the Baby Boom generation is the largest so far, their impact has been far greater than the generations that preceded them.
Now that Boomers have moved into their top earning years, they continue to push the housing market to new levels. They are purchasing larger primary residences as well as vacation homes and investment properties. The statistics for 2004 reflect this trend, with 36% of home sales going toward second homes and 23% of sales going toward investment properties.
Demographic trends don't end there:
Immigration -
There has been a large influx of immigrants over the past three decades.
Children of Baby Boomers - This generation is now in their twenties and looking to purchase their first homes.
Retirees - While the demand for housing is expanding, the supply is decreasing. With advancements in medicine and treatments of disease, retirees are living longer. This means that they are occupying their homes for more years, which decreases the supply of homes available for purchase.
In addition to the demographic factors listed above, real estate has been a rewarding investment. Stocks and bonds have not performed as well as investors were used to, while real estate has exceeded expectations. In an uncertain world, people are more comfortable investing their money in property that will appreciate and can be lived in.
Don’t buy the hype about a bursting bubble. Three years have passed since the doom and gloom predictions started. The real estate marketing will continue to flourish.
About the Author: Dan Lewis is a mortgage broker with http://www.gwhomeloans.com - San Diego mortgage brokers providing home loans and refinances. Visit http://gwhomeloans.com/services.html to learn more about options for San Diego mortgages.
Source: www.isnare.com
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