The section 8 housing system applies for those who are legally living in the US but do not have enough income to support the rent or mortgage of their house. If you want to apply for the section 8 housing then here are a few steps:
• The first thing that should be done is that you should contact your local public housing authorities. They will help you and guide you through the entire process.
• Whether you are eligible or not will be decided by the authorities and you will either have to be a citizen of the US or need to have valid papers to stay in the US. Your family structure, income etc will determine you eligibility.
• You need to document your income and property expenses. It is also important to know what kind of voucher you need exactly or else your purpose of applying for the section 8 housing will not be solved.
United States is facing a huge problem these days. The real estate downfall has led to decrease in the value of prices of all the major states in the country. Los Angeles has suffered a huge loss of around $5, 00,000. But there is good news for the one who are thinking of buying property.
There are many other states in which you can still buy and make a home. Central Oregon is facing a rise in prices these days and can help you to invest in and make money. The rise in prices of Oregon and other southern states is due to the Californians who are selling their expensive properties and are shifting to a place where they can buy large number of properties at low price. Another area which is facing a rise is San Antonio.
The US economy is facing a big problem due to the recession in the real estate sector. It is now necessary for the real estate industry to make some changes to bring back the economies situation as earlier. Some of the changes which could be done are: –
Throw out the people having less knowledge: – The real estate industry has some people which does not have enough knowledge should be thrown out of this industry.
Play the game: – It requires of playing the game according to the today’s world. The agents in the real estate industry should handle their business according to the needs and desires of the current world.
Customer the king: – The customer should be treated as the god or the king. It is required for a businessman to talk to the customer with a humble and polite way and not in a rude way.
Marketing: – It requires marketing to the people. The businessman should reach the media through which they could convey their offers
The US economy and its outlook in the real estate sector have shown many changes in the past days. It is now a time to save our self from the falling rates and recession in the real estate sector. The economy has shown the biggest housing crises in the last 50 years. The housing prices have decreased at a tremendous rate and are likely to decrease more in future. We should have a look at the background reasons of falling housing prices and find out more reasons as why these prices are likely to fall more in the future. It is been brought into notice that the US pending home sales have felt down from 2.6% to 86.5%.It is to be said that this is the highest decline in the housing prices. Earlier decline have led to economic downturns, but this time it will lead to economic struggle.
Many people have a career that does not allow them to remain at a single place continuously. Others have to move every few years. Some people move because they got a new job in a new city. Others, like baby boomers, like to remain silent yet enjoy the life in a new city. Everyone has his or he own preferences. Some like quiet places while others like noisy areas so that they do not feel alone. No matter what kind of environment you are looking for, you have something for each category of people.
But before you make your decision, you need to make a table of expenses that you will incur when you relocate and buy a house. There is a lot of information available on the internet. You can utilize that information for your good. There are magazines and newsletters that often inform about the best places to live in the US: Texas, Raleigh, Madison Wisconsin, North Carolina, and Austin. While Texas is very good for baby boomers, the property tax is a bit high than any other state in the US. But the city does offer an excellent nightlife.
Pending home sales are increasing in US and this increased up to 5.3% in the last June. This news is a bad one for the average home sellers of US. This is because, the home sales that are pending are intended for foreclosed properties which will be sold at a discount rate by most of the lenders.
The regular home sellers will have to suffer a great due to this and they will have to fight against those competitors who are trying to undercut them. However the percentage of pending sales is expected to come down in the beginning of 2009.
The recent changes in US economy are making real estate and property mortgages expensive there. You can find that the mortgage lenders are planning to increase the fees and trying to stop buying of high-risk loans. They will charge a high risk interests for loans in the falling US mortgage market.
This will make buying of properties and real estate tougher in US. The mortgage credit will increase in cost and the availability of loans for real estate purposes will fall rapidly. The current issues in market place are the leading factors making mortgages expensive and difficult to obtain for the common people.
The property market in US is on the face of a fall. The price of houses in US is not marking a great growth in the recent years. It is heard that the there will be a retracement of property price in US and this will determine the future of US property market in the near future.
The current condition of US property market is one that favors the buyers more than the sellers. This is expected to bring about a condition where in those who are planning to come to US market to think too much. They will not be able to make a great profit there.
Mobile homes refer to the concept of homes that can be moved from one place to another. In the initial days, such homes were also referred to as trailer homes. These homes have now come a long way with respect to their designs and flexibility. Modern homes are much more intricate and beautiful in designs and some of them look no different from the traditional brick and mortar home to a new eye.
They are also referred to as manufactured homes in the daily parlance. There are basically two types on manufacture homes – the singlewide and the doublewide.
The singlewide homes, when assembled, are less than 16 feet in width and consist of single pieces which are transported to the site. The double wide homes are around 24 feet around and are made of two parts which fixed together on the site. Though the double wide homes are very spacious, many people have reservations about leakages because of improper assembling. The triple wide homes, not as popular as the other two, are very spacious and can create space for as much as five bedrooms and around three bathrooms.
All such manufactured homes must meet the Housing and Urban Development code in US. These norms relate to building standards, plumbing, fireproofing, heating and air conditioning etc.
Earlier the manufactured / mobile homes were treated as movable property and were taxed accordingly. Today there are treated as real estate properties and are tax treatment is applied accordingly. Today’s modern mobile homes do not have wheels but they can be dismantled and erected again at the place of your choice.
If you are first time buyer, you must be wondering if investing in property is a good decision. Well having reservations about this is normal and there is nothing to worry about. I will list down 8 reasons why a purchase of a property is worth a decision to be taken.
The pride of ownership
For home buyers there is nothing more elating than to have the feeling of being the owner of that dream property. It means that you are the owner of that space and you can do whatever you wish to do within the premises (of course it should be within the legal framework). The ownership of the property gives the person and his / her family a sense of security and stability
Like every other investment tool, real estate also moves in cycles. But the fact of the matter remains that the prices have always appreciated over a period of time. For many of the investors the investment in the house / property is a hedge against inflation. Once the prices have appreciated you also have the option of exercising the equity release option. That will give you access of the locked cash potential of your home / property.
Mortgage interest deductions
Investing in your dream property is an excellent way of tax shelter. The tax laws in Unites States, UK and most of the Europe favor property investments. The interest component and to some extent even the principal can be claimed as a deduction under the tax laws thereby reducing your net tax liability.
Capital Gain exclusion
Tax / revenue laws in many of the countries give tax exclusion on long term capital profits / gains. So if you have remained invested in your property for a certain number of years, the proceeds from the sale of the property are exempted from your tax calculations if those proceeds are reinvested into the purchase of another property.