Our approach is hands-on, targeting properties that we believe are undervalued, and where value can be created through focused operational and financial management. We seek smaller, more entrepreneurial transactions, between $20 million and $80 million, that are too large for individual investors but too small for the larger funds.
Saturday, August 30, 2008
United States is a country of central and northwest North America with coastlines on the Atlantic and Pacific oceans. It includes the noncontiguous states of Alaska and Hawaii and various island territories in the Caribbean Sea and Pacific Ocean.
United States Economy, all of the ways goods and services are produced, distributed, and consumed by individuals and businesses in the United States. The U.S. economy is immense. Those levels of production, consumption, and spending make the U.S. economy by far the largest economy the world has ever known—despite the fact that some other nations have far more people, land, or other resources.
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Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year.
But some cities are doing just fine.
Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.
San Antonio is right behind. It also features solid employment figures and affordable home prices that continue to rise. Its industries are growing; it can't hurt that the new AT&T was formed when San Antonio-based SBC Communications swallowed the old AT&T Corp. and BellSouth.
Behind The Numbers
To find them, Forbes.com examined the country's 50 largest metros and looked at several key measures.
We examined unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs. Next, we looked at the BLS data on job growth in non-farm payrolls, through February 2008, for construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities, and the BLS's catch-all category, "other services."
We also took into account median home price data from the National Association of Realtors--from the fourth quarter of 2006 to the fourth quarter of 2007--to see which areas posted the largest annual gains. Our data don't account for the impact of declining sales in the first several months of this year.
Finally, our rankings were adjusted using data from a November 2007 report, "U.S. Metro Economies: The Mortgage Crisis," by the U.S. Conference of Mayors. It lists each city's estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies.
Sunny Southern Skies
Texas cities fared best under these measures. San Antonio, Austin, Houston and Dallas-Fort Worth have benefited from historically lower home prices, which have been affordable to a large segment of the population. The availability of land--and, in some cases, little zoning--helped keep prices in these cities low. Instead of competing for homes, Texans could move to a new subdivision a little farther out.
What's more, all four boast falling unemployment rates, with Austin dropping from 3.8% to 3.6% and San Antonio from 4.3% to 4%.
Cities that are expected to see growth in non-farm payrolls include Raleigh, which is expected to see 7.4% growth in professional and business services and 6% growth in education and health. In Salt Lake City, where the median home price rose 2.5% and unemployment, at 3.1%, is below the 5.1% national average, growth in education and health services is expected to be 5.5%.
Some cities have seen increasing home prices but otherwise continue to struggle. Buffalo and Rochester, N.Y., have seen home price growth (from a low base) but still contend with high unemployment--around 6%--and slow-growing or shrinking industries.
And in the San Jose area, the median home sale price is over $830,000. That's 11% higher than it was in the fourth quarter of 2006, helping to land the area at No. 4 on our list. Problem is, that growth has since cooled, and it remains to be seen whether pricey homes coupled with a 5.3% unemployment rate will cause trouble for homeowners this year.
To be sure, even in the most resilient cities, the mortgage crisis has caused suffering. People everywhere got into bad mortgages. Similarly, even in the most battered cities, the majority of people are employed and making their mortgage payments. The extent of recession or resilience is very much in the eye of the beholder, and this list represents only one of many ways to take a snapshot of economies that are standing tall.
In his statements to Congress' Joint Economic Committee earlier this month, Federal Reserve Chairman Ben Bernanke predicted the economy would possibly move into recession in the first half of 2008 but begin to rebound in the second half.
If you're tired of waiting, these might be the best places to go.
|Property Address||711 Main Street, Carbondale, CO 81623, United States|
|CO 81623, United States|
|Bear Dance Ranch is the kind of estate that no one expected to discover so close to Aspen ever again. It's 600 acres of land utterly untouched by modern development. Crowned by a building envelope with approval in-hand for a 10,750 sq. ft. house, it's an easy 10-mile drive from the Hotel Jerome. Though its size and location make it unique, what truly distinguishes it is its environmental legacy. The land is protected by a conservation easement that promises it will forever be as pristine as it is today. www.beardanceranchaspen.com for more information. Special arrangements need to be made during winter months to show property to qualified buyers only. Offered by: Agent/Broker Company Name: Aspen Sotheby's International Realty Contact Address: 711 Main Street, Carbondale, CO 81623, United States Contact Zip: 81623 Price: $45,000,000 Ad provided by: http://www.aspenlandandhomes.com Bedrooms: 0 Bathrooms: 0 Size : 0 Sq.ft Property ID # 4101493 Property State: CO MLS # 102735 Actual Status: Available.|
Valencia (09.07.08).- The juncture of international markets, the situation the US Real Estate market is going through in the last few years and the euro-dollar exchange rate make now more interesting than ever real estate investments in the US, informed Rimontgó’s Director, Mr. José Ribes Bas, in the conference organized by this Spanish Real Estate Company in Madrid this week.
The meeting, addressed to promote private and commercial property investments in the United States, was graced by the presence of two of the most prestigious experts in the US Real Estate Market, Mrs. Diane Ramirez, founder and President of Halstead Property, and Mrs. Michael Saunders, founder and President of Michael Saunders and Company.
José Ribes Bas emphasized the opportunity for both enterprises and private investors of entering now the US property market and acquiring high quality properties for less due to the drop of the luxury estate prices. Ribes Bas also pointed out signs of recovery in the US housing market with a sales record registered this year and the freezing of prices since 2005. “Because of this – Ribes stressed- this is the most suitable moment to invest in the US.”
“In moments like this is when the best informed international players take advantage of the situation. Those who take the first step will be in the pole position when the other ones react. When the global economy takes off and the US Real Estate investing market grows, Euro investments will turn into excellent US Dollar disinvestments”, José Ribes explained.
Diane Ramirez and Michael Saunders presented to the exclusive audience the advantages and benefits which the US real estate market offers right now. Xavier Ruiz, Director of Garrigues in New York, an important tax and legal services provider, explained the tax and legal key factors of Real Estate investments in the US.
Dennis Dahm, Director of Michael Saunders’ commercial division, presented also a new and really interesting product for private investors and enterprises: the most profitable investment portfolio in the US with a global value of $800 million. The portfolio is divided into 130 units with an average cost per unit of $6 million.
Leader in Luxury Real Estate
Rimontgó is a family-run Real- Estate company founded in 1959 which has become one of the longest-established agencies of its kind. Rimontgó is member of the most important luxury Real Estate networks such as Luxury Portfolio, Leading Real Estate Companies of the World and Luxury Real Estate. Rimontgó has also been selected by Christie’s Great Estates to be their exclusive affiliate in Valencia. The enterprise was recently honoured with Most Influential Global Luxury Real Estate Leader award.
Rimontgó offers private investors and enterprises the possibility of buying the most exclusive properties in Spain, the rest of Europe and also in the United States. Its Real Estate luxury Portfolio includes 1000 properties in Manhattan, 700 in New York, 600 in Florida and 700 in Europe. All the information is available on Rimontgó website, which is updated twice a day. Rimontgó provides also offers services for commercial investments. Clients take advantage from full tax and legal assessment.
Many property owners in the United States place their vacation properties in a rental programme, earning income from short and long term rentals when they’re not in residence. Others allow family and friends to enjoy their home in the United States at their leisure, while still others prefer to have their property in the exact same condition as when they left it. Whatever your style, there is a property to fit it.