Tectone Real Estate

Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.

The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.

Women’s earnings have accelerated over the last few years and they have emerged as the Chief Purchasing Officers in their households. According to IRS data, women constitute 39 % of the top wealth holders in the country. This means about 2.5 million women possess a wealth of $4.2 trillion put together. Notably, the IRS estimates that by 2050, 42 % of these women will be single or widowed. The IRS further estimates that more wealth is bound to be accumulated among women.

Another growing trend that emerged in a December 2006 study by the National Association of Realtors (NAR) was that about 22 % of homes purchased between July 2005 and June 2006 were by single women who were in the 25 to 34 age range. Women accounted for a record number of 1.76 million home purchases (1 in every 5 homes), a significant increase from 14 % a decade ago. Women’s growing success in their careers, higher education, financial independence and a desire to build an early nest on their own, are some of the reasons that have spearheaded this home buying trend.

Among the vast demographic spectrum in the real estate industry, women have become a force to reckon with. Real estate agents are increasingly taking note of their female clients and the power they wield in home buying decisions. By the influence that they bring into play in home buying decisions, women form a significant and growing market that simply cannot be ignored.

If you are considering buying a home, condo, or any other real estate, be sure to seek out the services of a local real estate agent to guide you through this complex process.

Tags: Estate Purchases, Financial Independence, Home Condo, Home Purchases, National Association Of Realtors

Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.

Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.

Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.

Las Vegas documented one foreclosure filing for every 31 households, making it the third highest in foreclosure activity among the 100 metro areas. It reported 22,928 foreclosure filings on 13,028 properties, double the number reported during the first half of 2006.

Six of the top 20 metro areas with the highest foreclosure rates were in California and four in Ohio.

The following are the top 20 U.S. housing foreclosure markets from Jan to Jun 2007, the total number of foreclosure filings and households per foreclosure filing.

1. Stockton, California: 8,169 foreclosure filings; one foreclosure filing for every 27 households.

2. Detroit/Livonia/Dearborn, Michigan: 28,705 foreclosure filings; one filing per 29 households.

3. Las Vegas/Paradise, Nevada: 22,928 foreclosure filings; one filing per 31 households.

4. Riverside/San Bernardino, California: 41,351 foreclosure filings; one filing per 33 households.

5. Sacramento, California: 20,516 foreclosure filings; one filing per 36 households.

6. Denver/Aurora, Colorado: 23,842 foreclosure filings; one filing per 42 households.

7. Miami, Florida: 20,275 foreclosure filings; one filing per 46 households.

8. Bakersfield, California: 5,365 foreclosure filings; one filing per 47 households.

9. Memphis, Tennessee: 10,800 foreclosure filings; one filing per 49 households.

10. Cleveland/Lorain/Elyria/Mentor, Ohio: 8,844 foreclosure filings; one filing per 50 households.

11. Fort Lauderdale, Florida: 15,720 foreclosure filings; one filing per 50 households.

12. Atlanta/Sandy Springs/Marietta, Georgia: 36,502 foreclosure filings; one filing per 54 households.

13. Fort Worth/Arlington, Texas: 13,221 foreclosure filings; one filing per 57 households.

14. Fresno, California: 4,867 foreclosure filings; one filing per 60 households.

15. Indianapolis, Indiana: 11,677 foreclosure filings; one filing per 62 households.

16. Dayton, Ohio: 5,966 foreclosure filings; one filing per 63 households.

17. Dallas, Texas: 23,284 foreclosure filings; one filing per 65 households.

18. Akron, Ohio: 4,378 foreclosure filings; one filing per 70 households.

19. Oakland, California: 13,482 foreclosure filings; one filing per 70 households.

20. Columbus, Ohio: 10,706 foreclosure filings; one filing per 70 households.

Tags: California 2, Households, Metro Areas, Online Marketplace

Indian Real Estate: Inner Cities Attract High-Powered Investment

Over the next three to five years, India’s Tier III cities are likely to be transformed, poised as they are to emerge as one of the most preferred investment destinations for global realty and investment firms. A few years down the road, and these locations that include Jaipur, Coimbatore, Ahmedabad and Lucknow will be unrecognizable in their new Avatars.

Realty sector surveys predict the availability of a requisite talent pool, coupled with low cost real estate will see a growing interest in Tier III cities, with the technology sector seeking to expand operations in these previously untapped locales.

Based on current and expected growth potential, various locations through the country are being classified as mature destinations, destinations that are in transition and those that are emerging.

Metros like Mumbai and Delhi are classified under the mature destination section. Metropolitan in character, so far, Mumbai and Delhi have been traditional business destinations, with a favourable track record in attracting investments. However, factors such as, an increase in operating costs, real estate supply constraints and socio-political risks are beginning to pose potential impediments in sustaining a high growth rate. Commercial real estate growth in Mumbai and Delhi is expected to be range-bound and focused mainly around the suburbs and peripheral areas in the coming years.

On the other hand, Bangalore and Gurgaon can be classified as destinations in transition, offering as they do a large captive human resource potential, availability of quality real estate and operating cost advantages. These then are locations best positioned to attract investments in the coming years. However, it is infrastructure bottlenecks that are the main hurdles in their growth path.

In the emerging real estate destinations, we have Pune, Chennai, Hyderabad and Kolkata, whose growth can be attributed to cost-advantages, well-developed infrastructure, limited real estate supply constraints and city governance. As well, growth here is led by expansion and consolidation of corporates belonging to the IT and ITeS sectors. Though, the number of occupants in these locations is yet, to reach optimum point, these locations continue to feature on real estate investment maps.

As in the economic, commercial and political field, India is undergoing a transformation in real estate, as well! As financial benefits and investments percolate downwards to small towns, cities, mofussils and villages, the dream of planned housing, paved streets, potable drinking water may, no longer remain a distant dream. Real estate builders and developers, while changing the face of Indian real estate, must not forget to keep true to the Indian ethos, while providing town planning in haphazardly built inner cities and towns of India!

For more information on Real Estate Agents, MLS visit Propertiesmls.com

Source: IndiaRealEstateblog

Tags: Growth Path, Inner Cities, Investment Firms, Sector Surveys