Even without its history, this week’s featured house,on Capitol Hill,
would be worth a second look.
Richard Rothwell built the Second Empire house in 1874 for his wife and seven children. Rothwell was a stonemason who worked on the U.S. Capitol and what is now the National Building Museum.
Tricon Capital this past month raised $125 million for its new U.S. distressed residential real estate fund Tricon XI LP to "capitalize on 'once in a generation' investment opportunities in distressed U.S. residential real estate that have arisen out of the 2007-10 credit crisis and related economic recession."
The fund will provide financing to real estate developers for the acquisition, repositioning and potential development of distressed properties.
Pending home sales in Miami are continuing at record high levels, up 15% year on year during the month of August, according
to the latest data from the Miami Association of Realtors.
The number of single family and condominium listings that pended in August increased 26.3% and 6.28 percent respectively compared to August 2011.
‘Pending sales in the Miami real estate market remain at historically strong levels, particularly when considering the current shortage of local housing inventory,’ said Martha Pomares, chairman of the board of the Miami Association of Realtors.
As the economy continues to move forward, slowly and erratically, there are considerable opportunities involving the purchase and sale of distressed homes. These circumstances vary significantly across the country, which is why it is useful to understand the profile of the markets and the investors who operate in each city.
Dallas-Fort Worth represents a classic "investor" market, as opposed to a "speculator" market. The characteristics of the former, which are relevant for reviewing the real estate market in any given area, include: income and rental rates that align with property values; a moderate level of new residential construction, even during the real estate boom; a large, diverse and stable economy; and solid population growth and demographic trends.
Based on these criteria, a real estate agent or broker should be able to work with a core group of long-term, seasoned, local investors who act as a stabilizing force on the market.
If you're fed up with the paltry returns you get on bonds, the insulting interest rates paid by banks, and the frenetic fits of the stock market, you might consider turning to rental real estate to supplement your retirement income. But it's not for everyone. Walk through these six tips to see if real estate can help you construct a sound retirement portfolio. If the idea still seems solid, the next step is to do your homework.
1. Assess your goals. The days of buying real estate and flipping it for a quick profit are long gone. Rental real estate can provide a steady, long-term income, but it takes work. Are you prepared to do lots of research to secure a property in a good location that will be attractive to people in the rental market? Are you ready to crunch the numbers to figure out if a property will work out financially? Are you able to manage your own property, which may include fixing the plumbing, cleaning the carpets, and applying a fresh coat of paint for new tenants? If not, you will need to hire someone else to do it for you.
