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Hi all,
Am contemplating a real estate purchase. Seems there
is a global madhouse insofar as real estate goes.
Rates of return here in Delhi-India , in terms of
rental income are as low as a pathetic 1 - 1.5 %.
The central bank has changed it's stance towards tight
money with inflation rearing it's head. Given the
possibility of even higher rates (monthly home loan
repayments are already up some 10% odd), would some of
the senior members please share their experiences of
real estate markets when interest rates were at
historic lows and started rising? Specially WRT to the
time lag between interest rates rising and property
values begining to tank?
TIA
Regards
Rakesh
--- bondo92677 <bruce.larson@xxxxxxxxxxxxx> wrote:
>
> That's interesting. Southern California real estate
> has been marked
> down 10-15% over the past 3 months and homes still
> aren't moving.
> But that's not saying much since values have doubled
> over the past 3
> years.
>
>
>
> --- In realtraders@xxxxxxxxxxxxxxx, BobsKC
> <bobskc@xxxx> wrote:
> > Of course, there's is nothing quite like three
> major hurricanes in
> a month
> > to bring property values down fast. My home on
> Sanibel Island, Fl
> > escalated from $290K in '98 to $550K in '03 but
> it's hard to say
> what it
> > may be worth right now. Also, purchasing at
> historical low
> interest rates
> > runs the risk that with rising rates, real estate
> values will
> fall. Sort
> > of like being in a stock you can't sell because
> trading is
> halted ... :)
> >
> > Bob
> >
> >
> > At 02:39 PM 9/11/2004 -0400, you wrote:
> > >Well I am finally seeing it happen in real
> time...in the
> community I live.
> > >
> > >I am active in Homeowner's Association in my
> Myrtle Beach, SC
> community.
> > >We are Lakeside and just 5 minutes from the Beach
> with the new
> roads.
> > >
> > >I saw a list of the homes owned by people from CA
> and WA and it is
> > >growing. Apparently there is a network of over
> 2000 people
> dealing with
> > >select realtors who find fast growing and
> escalating value areas
> in new
> > >communities here and elsewhere.
> > >
> > >The out of staters are buying homes here and
> renting them for
> $1050 per
> > >month which covers mortgage and practically all
> expenses with
> some left
> > >over for repair. In speaking to one from WA, he
> can not afford to
> retire
> > >where he lives plus he believes the escalation in
> value here will
> give him
> > >a better profit than the stock market.
> Apparently, his particular
> effort
> > >was started by a group of stock investment club
> women who are
> also doing
> > >this.
> > >
> > >It is having a negative affect on our Family
> community since many
> renters
> > >are college students...away from
> supervision...FWIW. But that is
> being
> > >gradually dealt with.
> > >
> > >I am thinking about doing a few properties
> myself. There is no
> let up in
> > >demand here.
> > >
> > >Just FYI.
> > >
> > >Sincerely,
> > >
> > >John
> > >
> > >
> > >
> > >
> > >
> > >
> > >Yahoo! Groups Links
> > >
> > >
> > >
> > >
>
>
>
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