Posts Tagged ‘National Association of Realtors’

Intero Insider: Global house prices trend up

By Gino Blefari | November 3rd, 2010 1 Comment

Real estate is one of the most local businesses around, but it’s interesting to take a look outside at the global market and see what’s happening. What are sales and price trends like in the world’s other top economies?

A recent round-up from The Economist shows that prices are on the rise in most markets across the globe. Only four of the 20 markets tracked by the publisher saw declines in the third quarter from a year ago. And only Ireland’s market worsened.

What does this mean for us?

Well, America’s FHFA index, which excludes houses that are financed with large mortgages, was also down. But The Economist notes that the Case-Shiller national and 10-city indices rose modestly.

Our real estate market in the U.S. is certainly not worsening. And compared to the rest of the world, we’re not doing that badly either.

According to the National Association of Realtors, over $40 billion in U.S. real estate was sold to foreign buyers last year. When you think about that, it suddenly becomes really interesting to see how foreign markets are performing and how various markets can affect purchase decisions for intercontinental buyers.

Global real estate is something I’ve particularly been interested in as I see a wealth of opportunity. Last summer, Intero Real Estate’s Chairman Robert Moles and I had the pleasure of speaking at two prestigious global real estate seminars in Singapore and Hong Kong to talk about this opportunity and share our insights as a company that’s been growing and succeeding through extraordinarily difficult times.

To make sure Intero is ahead of the curve, we just announced a deal in which Intero Real Estate will syndicate all property listings to the iProperty.com network of websites. This means that all listings will now get exposure to buyers across Singapore, Malaysia and Hong Kong.

Global real estate is an important indicator to follow as we look at the state of U.S. housing. Take a look outside the U.S. and you may find our market looks a little different. And if you’re really into seeing global price trends and how various nations compare to others, check out The Economist’s Interactive Global House Price Trends tool.

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Intero Insider: Don’t Miss the Big Opportunity

By Gino Blefari | August 10th, 2010 1 Comment

In this type of market, it’s best to focus on what’s working, what’s favorable, what’s reality. And when preparedness meets opportunity you get success. Whether you’re a buyer, investor, seller or agent trying to make sales, you strive to find the opportunity for success.

Distressed home sales continue to represent this opportunity. Distressed homes – those homes that are in danger of going into foreclosure or are for sale because the homeowners defaulted on their mortgage – were 32 percent of home sales last month, compared with 31 percent in May, according to a recent report from the National Association of Realtors.

What’s happening here and why should we pay attention?

In a word: inventory. Distressed properties more and more are making up a huge chunk of the inventory in many markets around the world (not just here in the U.S.). But wait! Remember that great Warren Buffet quote about when to get interested in an investment? He said:

“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”

At first thought, you’d think that something that already represents a third of the market for home sales is past the tipping point. But I don’t believe that. We’ve been doing very well at Intero by studying the market and moving swiftly to seize distressed opportunities. So should you.

Earlier this summer, I spoke about distresses properties at a prestigious real estate conference in Singapore. The distressed market is nothing to run from, folks. In fact, the true real estate lovers saw this coming long ago and stashed cash accordingly.

And sure, for the average consumer, buying a distressed property is going to be a mind-boggling experience (if it even happens in the first place). But all the more reason to study the process and figure out how to make it work if you’re really interested in pursuing this opportunity. When preparation meets opportunity you get success.

You just have to remember another quote from the great Warren Buffet:

“Risk comes from not knowing what you’re doing.”

Which takes us back to that studying process and being prepared.

Where can you learn about the market for distressed properties? We have knowledgeable agents who can help. Many are specializing in this field right now for this very reason. Even so, I’d advise you to do some reading on your own as well. Take the time to choose the right agent and be sure you’re armed financially.

Just because we’re in a “slow” housing market, doesn’t mean you can’t profit in the end.

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