Ric Inting Cebu City Real Estate

credit: davey-boyPast wisdom has informed us that even in housing slumps luxury will withstand the pressures and continue to thrive. This conventional notion is not only being tested but its being cast aside as luxury home, condo, and apartment owners are seeing the value of their homes drop and watching them sit on the market for months, even years, without a legitimate bite.

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credit: pfala
The bubble has popped, or so the media says, but does that mean that real estate is now a bad investment? Not necessarily. In the last couple decades you would have been well advised to do your homework before you bought, but you probably could have ignored that advice and still done ok. Now it’s absolutely essential that you do the research before your purchase or you could be stuck with a home that’s overpriced and no one wants to buy.
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The current real estate climate should cause a shift away from home ownership and towards rental properties. Credit is available to fewer people than it was just six months ago, so more families will find themselves in rental housing. In addition, would-be buyers are in a holding pattern waiting to see what happens with the present housing slump

Investment property owners are well positioned in this scenario. While the value of their investment property may take a hit, increasing rents and declining vacancy rates should help offset some of this pain.. (more…)