September 2010

Data.gov – A Cool Site With Lots Of Great Info

http://www.Data.gov I just found this site and wanted to share it.  It has a ton of info and reports.  If you have a project or just an “inquiring mind”, this is sure to be a hit.  Check it out and get the data you need.

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Realtors Seeing a Buyer’s Market for Condos

By J Harris

According to the National Association of Realtors, the flourishing condominium market is no longer an advantage for sellers. It has become a buyer’s market across the United States amidst declining sales and median prices. By year end June 2006, realtors have seen the supply of existing condos for sale increasing by almost two-thirds and sales falling by almost 15 percent across the nation. With investors making up about a third of condo ownership, it is expected that more condominiums will be put up for sale this year. According to the National Association of Home Builders, realtors also can expect an influx of new condo development over the next two years and increasing conversions of rental apartments to condos, adding to the over-availability in the condominium markets.

During the past real estate bubble, condos have appreciated at a faster rate than single-family homes, especially in high-cost metro markets with rapidly rising prices. Even last year ending June 2006, the national median price rose by nearly 14 percent. Realtors only expect an increase of three-to-four percent this year, as compared to six percent for single-family homes.

Currently, the national median price for a condo is $226,900, as compared to a single-family home at $231,500. This makes buying a condominium much more attractive, especially for empty nesters and young families. The realtor outlook for condo prices does vary by region. The Midwest is the best location with only a one-percent sales drop last year and a third of a percent drop in prices — this is within the Chicago and Minneapolis/St. Paul markets. Realtors would expect smaller Midwestern cities to be even better.

Realtors in the western part of the U.S. saw the biggest hit in the condominium market. Sales there last year were down by 21 percent, and there was an 11 percent drop in prices.

For August in the San Diego, Carlsbad and San Marcos area, the median condo price was $373,800, as compared to last year’s price during August of $387,100. Realtors saw August sales decrease by 3.4 percent, as compared to an increase of 5.5 percent last year at this time.

With the onslaught of retiring baby-boomers, the condo market may see an upswing during the next five-to-ten years. The downside for some markets is that the increasing amount of natural disasters, such as hurricanes, may change the migratory pattern towards safer weather states.

Sellers

A declining condo market does not mean an owner cannot sell at this time. Realtors advise sellers to price the unit appropriately — more affordable condos still are selling well. Make it stand out over your competition by removing clutter and staging it well. Some sellers are throwing in amenities, such flat-screen televisions and state-of-the-art audio systems. Some are offering bonuses as incentives to the realtors who make the sales, motivating an increase in the number of showings. Realtors advise sellers to be prepared to negotiate with buyers and not to automatically turn down reasonable offers.

Buyers

Realtors see this as a good time to buy if you plan to own the property for at least three-to-five years. Realtors do advise that you look for condos that will hold their value over time for a better resale value. Look for units with a great view; close to downtown or shopping areas for lower gas usage; easy access to parking, public transportation, necessities and amenities; an elevator and spacious floor plans; garage parking in cold climates; and a doorman or concierge if in a luxury market. Realtors also advise that you take your time shopping for the right condominium. Visit the units you like more than once and drive a hard bargain.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit Homes for Sale in Oceanside [http://www.twtrealestate.com/oceanside-homes.html]

Article Source: http://EzineArticles.com/?expert=J_Harris
http://EzineArticles.com/?Realtors-Seeing-a-Buyers-Market-for-Condos&id=372085

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Condo – Loft Lifestyle

By Andy Asbury

With the popularity of condos and lofts skyrocketing in recent years, especially in Minneapolis; these home choices have become a major player in the local real estate market. Condos and lofts offer a distinctly different package than a typical home: first there is the convenience of location. Typically condo and loft complexes are located within the city limits and as such provide excellent access to the business core, and the other great amenities of a major metropolitan area.

Condos and lofts also are great living options for busy professionals or people who simply cannot afford the time to take care of a traditional home and yard. That being said there are some things that you should spare some time for in a condo. Becoming an active member in your complex’s association is important as they make the decisions that affect your home and life. Condo living can be quite rewarding as they possess a close-knit community and an element of safety that is not present in a normal home.

The other main asset that condos offer is an abundance of desirable extras that are normally extremely expensive to attain in a home. Many complexes feature spas, fitness rooms, outdoor recreation facilities such as tennis courts and a number of other amenities. These things are remarkably expensive in a normal home and the upkeep is equally as daunting. Condos offer these things and the maintenance is seen to by professionals hired by the association. One of the most important aspects of the loft or condo is the fact that to purchase a basic condo is usually far cheaper then purchasing a basic house so it is an option that appeals to the wallet as well.

Minneapolis is the ideal place to find yourself a condo or loft as the real estate market here is thriving and lofts and condos are at the apex of popularity. New developments are cropping up across the city with many occupying old warehouses and factories creating a distinct loft style of living. Minneapolis is definitely a great place for a loft or condo.

For information about Minneapolis condos, visit MinnesotaLoftsAndCondos.com. There you’ll find advice from leading Minneapolis REALTORS,® as well as listings for properties in St. Paul, Minneapolis, and surrounding areas.

Article Source: http://EzineArticles.com/?expert=Andy_Asbury
http://EzineArticles.com/?Condo—Loft-Lifestyle&id=471497

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