When it all Falls Down...

By: Alcides Hoy Jr.

With the Big Apple being one of he many places us college graduates drift toward, we must be concerned on how those Manhattan homes and apartments are holding up. As we go through this economic crisis Manhattan real estate sales begins to decrease. We could suspect the harder the fall the further the sales will drop. So many people are losing their jobs and not receiving high paying jobs which is making it difficult for anyone to afford an apartment in Manhattan. The worst part is that inventory is accumulating faster than Real estate agents can rent these spaces. Now banks are not trying to give out credit to just about anybody which leads us to think how will we pay for these high class living quarters. Its as if they leave us with no choice but to search for different job markets to apply to. The longer we have this economic downturn the harder it will be for the New York City real estate market to get back on track. So now we have to pose a challenge to ourselves and think what can we do to change this harsh backdown?

http://money.cnn.com/2008/10/02/real_estate/manhattan_real_estate/index.htm

http://www.nysun.com/business/unthinkable-happens-manhattan-apartment-prices/84900/

http://www.nytimes.com/2009/03/08/realestate/08condo.html?ref=realestate

Know Before You Go

By Alcides Hoy Jr.

Many of us are approaching the home buying phase real soon. There are few things we should know first before we go.

Real Estate Tips

Posted By C. Brown

Real Estate is a major issue today in 2009. I have found numerous tips for buyers and sellers for 2009 when it comes to foreclosures and your real estate investment. Another thing homeowners and home buyers should be careful of is buying real estate in California at this time. Real Estate in California has declined over 25% and Florida as well. Now is the great time to buy in these areas because your real estate should appreciate, but it is still very risky.

Tips:

1. 1. Cash is your friend. The more money you can set aside and save for your down payment, the better. You will have smaller monthly payments and you will be charged less interest.
2. Negotiate!!! The real estate market is a mess, so be sure to negotiate on your terms whether you want extras to come in your house like appliances.
3. Make sure you have good credit. Start repaying debt and building better credit.
4. Look at why the real estate is the price it is.
5. Look at many opportunities.
6. Look for foreclosed real estate

• Is this foreclosed property owned by the bank or by the seller? Can you get a discount from the lender for paying off the property? Is there anything wrong with the real estate?

7. Last but not least, RESEARCH! Know what you are talking about and know what you are looking for and what you want. Knowledge is power and power is key if you want to buy a home and keep it.

References:

http://www.bankrate.com/brm/news/real-estate/20081229-9-real-estate-tips-for-2009-a1.asp
http://finance.yahoo.com/real-estate/article/106346/10-Worst-Real-Estate-Markets-for-2009
http://www.foreclosureuniversity.com/