|President Donald Trump|
|2008 Recession destroyed the plans of many US home seekers|
Its however too early to judge what Trump is up to so everyone will wait to see if he is or not the new front of the money man. So these high prices are probably due to scarcity of supply in the post recession era. Nevertheless this does not stop the sky rocketing prices to wreck havoc again amongst desperate home seekers.For example in San Francisco houses which could cost around $600 000.00 in 2008 now cost $1 300 000.00. In Colorado a single family home was on average $205 454.00 in 2008 now costs $406 000.00, in Florida, Brevard County a single family home increased in value by 18% to $195 000.00 over a period of one year and in Les Vegas, Nevada the median home price is $238 000.00 and those less than $200 000.00 are in hot demand. In 2008 the house market havoc caused by the recession caused suicide and depression amongst many and in real estate forums I participated online I could see the same frustration growing in Americans because of the current high prices.
This is the same frustration I see in many Zimbabwean home seekers because at every point in time there is always a detour that deviates the people's course towards home ownership. In the USA its insanely high prices, in Zimbabwe its a liquidity crunch and last time it was inflation. If a knowledge of some real estate information could have served some lives during the 2008 USA recession it is therefore, imperative that I as a property consultant should offer some advice at this juncture as follows;
Know the ups and downs of the property market and the particular months of the year they occur.Every property market has its ups when its called a sellers market and downs when its called a buyers market. A sellers market is when the demand is good and the price high while the buyers market is when the demand is poor and prices are low. This knowledge helps you to predict trends so that you become an actor as opposed to a reactor in the market.
Have a plan about what you want to use the property for.The house you buy when you want to put tenants in is different from the one you buy when you want to stay in it. If you want tenants you should look for suburbs close to the CBD like Mainway Meadows, Belvedere (those in Zimbabwe) because rent increases with decrease in distance to the CBD but if you want a place to stay you are likely to prefer places further away from the CBD like Borrowdale, Glen Lorne because these environments are peaceful therefore good for a family.
The risk of a financial disaster is high in your life when you attempt to buy a house or any piece of real estate without the right kind of advice and information. Its important to be always reading about real estate and asking relevant experts in order to get a comprehensive picture of what the market is like when faced with decisions to do with property management, valuation, selling and buying. I will be happy to hear from you in this regard. Do not hesitate to leave your message in the pop up widget that rises on the right side of your screen. You can even leave your contact details and I will come back to you.