Real Estate News Blog July Archive

Housing Market Crisis Hits Europe

07/30/08 12:18

French construction company to cut 4,000 jobs throughout Europe due to the declining real estate market in Britain, Spain, and the U.S. Some distribution centers in France may also be affected. Emerging markets in Asia and Central and Easter Europe are growing.

News: AFP: French construction group plans 4,000 job cuts

Chilean Exports up Despite Sagging Dollar

Chile has the second best trade policies among Latin American countries and agricultural exports have been quite successful in these difficult economic times. Many owners of export industries are foreign investors with ties to their home markets. Many buy agricultural properties and sell the produce to the world

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Keep On the Lookout for Housing Help

The Housing Bill before the U.S. Congress isn't just for those facing foreclosure. There are many benefits for even homeowners with not financial troubles at all. Some of the benefits to look out for are: A tax credit for first-time home buyers; additional deduction for standard deduction takers on their tax forms; people who get reverse mortgages (elderly home owners generally) will have the costly fees limited to 2 or 1 percent of the mortgage and raises the limit that can be borrowed. Veterans get help by delaying forclosure proceedings from 90 days to nine months.

News: Your Money - Housing Bill Has Something for Nearly Everyone - NYTimes.com

Don't lose your head over losing your house!

Reports of a 53 year old Massachusetts woman who fatally shot herself just before the police were to put the house up for auction. Suicide is often stress related, but you shouldn't lose your life over the loss of your home. There are people, organizations, and companies willing to help you prevent or avoid foreclosure. This instance was pretty bad - the lady did all the finances and hadn't paid the mortgage in 42 months.

Although foreclosure notices are up, hopefully, suicides won't be.

News: ABC News: Is Foreclosure Suicide a Sign of Times?

Hope Now - Congressional Testimony

If you are looking for help fighting foreclosure, you could do a lot worse by not seeking out Hope Now, an organization devoted to bringing counselors, mortgage brokers, investors, and others together. All this to aid distressed homeowners navigate the terrible waters of financial doubt and forclosure. There are a number of service goals set out by the group such as sending loan status notices, loss mitigation notes, offering solutions and reporting the results of their endeavors.

News: HOPE NOW Executive Director Testifies Before Congress - MarketWatch

Brazilian economy still looking good

The world, in general, may be having an economic slump, threatening and tempering growth with double-digit inflation, but one nation in South America is standing out from the crowd. That is Brazil.

With rising wages, low inflation, and a stable currency, Brazil is attracting billions of dollars worth of investments every year--way ahead of its neighbors in the region. Everything is on track for Brazil's eventual promotion to a global superpower.

News: FT.com / Home UK / UK - Brazil races ahead of rivals

Foreign investment in Dominican Republic to rise again in 2008

Reprinted from Caribbean Net News caribbeannetnews.com

Foreign investment in Dominican Republic to rise again in 2008 Published on Friday, January 18, 2008

SANTO DOMINGO, Dominican Republic: The Dominican Republic will continue to experience an increase in foreign investment in 2008 due to the country’s improved business climate, a rise in exports, regulations favorable to foreign companies and the free-trade agreement (DR-CAFTA) with the United States, the director of the Dominican Republic’s Export and Investment Center (CEI-RD), Eddy Martinez, said.

Read more: Foreign investment in Dominican Republic to rise again in 2008 [click]

Lots of unfinished properties

Before you go out and purchase properties that are not yet built in Costa del Sol, you should read this first.

Some of Spain's largest construction companies has filed for bankruptcy, following the bubble burst after a decade-long construction boom? So what happened? A lot of British investors, who have already bought properties in Costa del Sol might end up with nothing. Now they are seeking legal advice and are intending to file lawsuit against the construction companies.

News: Britons caught in Costa del Sol housing collapse launch legal battle - Telegraph

Rep. Frank asks lenders to avoid passing foreclosures

Good news for both lenders and borrowers: the federal government is already nearing the approval of a House bill that will move 400 000 distressed loans to a more affordable package backed by the national government. Prior to this, Rep. Barney Frank of Massachusetts asked lender to refrain from passing foreclosures while the bill is still in Congress. More about that news and more here in the Washington Post.

News: National Briefing - washingtonpost.com

Bargain Hunters benefit from slump

There is gold even in the harshest times. This is especially true in the case of Southern California, where real estate prices are dropping even further. As such, bargain hunters from all over are already having a field day acquiring bargains from foreclosed or endangered properties. As soon as the market goes bullish once again, these properties will rise in value once more.

News: Bargain hunting picks up as Southern California home values fall further - Los Angeles Times