Prudential Real Estate :

Even with all the craziness going on in the housing market today, there are still a few bright spots of hope out there for those who are looking to buy and sell real estate in the United States. In some areas it will be a great year for investors to buy prime real estate as an investment. Investors who don't have to borrow money to pay for their real estate and can afford to hold on to the properties they buy for awhile stand to make a large profit in the long run. Investors can generate income from the real estate by renting the properties out until property values take another upswing.

Affordability is less of a problem if you have the cash to make your real estate purchase since housing prices have dropped to levels not seen since before the beginning of the housing boom. The government is expected to keep interest rates low and offer various types of incentives to home buyers to try to jump start the economy in 2009.

All areas have not been affected as seriously as California, Las Vegas, and Florida, where foreclosures have risen sharply due to the subprime mortgage crisis. Loss of jobs is causing problems in many areas where the unemployment rate has soared. This is why real estate prices in some areas such as Washington, D.C., Anchorage, Alaska, and Oklahoma are holding up better since the energy producing industries remain robust and the government requires more workers in times of economic turmoil.

Areas such as New York City will have a rocky road in their real estate market for an undetermined period of time due to their ties with the banking industry and the decline of the stock market. Lower interest rates are predicted for this year that may help stabilize the real estate market in some areas. A fixed rate of 4.5 percent for a thirty year fixed rate mortgage is expected with interest rates possibly dropping to 4.25 percent. This will be good news for first time homebuyers and those looking to refinance their mortgage.

The recovery of the real estate market will likely follow the recovery of the jobs market. If there is work available, people will move to where the work is and they will be looking for homes for sale. Areas such as Anchorage, Alaska and Washington, D.C. should see real estate prices stabilize quickly since the government and the energy industry are both big employers in these areas. The growth is expected to continue at a moderate pace in these areas.

The housing boom of the last ten years may be over but that doesn't mean that real estate is not a good investment. Investors must be informed and think about the consequences of the real estate investments that they make. Investors should realize that buying property is not a guaranteed quick road to riches although the purchase of real estate can still be one of the best investments that an investor or an individual can make.

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