Why buying a home during house foreclosure? Foreclosed homes are those homes which are distressed homes which further means that they are not in a condition where one can live.

At the point of house foreclosure, the bank mortgage loan or financial institution has possession of the property and usually deals with it. Ownership is moved to the lender. Most of the time, when the lender takes the property their intent is to sell it in the open market. Some of the property are selling lower than the market value. Property investor who buying foreclosed homes with lower price could maximize the profits of property investment.

The advantage of buying foreclosed homes is that it will be less expensive as it is not good for anything further. Many people in fact sell the homes before the notice of default is issued so that they can get better deals out of it. One should remember that default homes deals are always complicated and the home sellers have rights when it is in foreclosure. Read more »

Property Prices for Penang property market may dip ~10% this year. Property prices inactive since mid last year, is stirring. After months of lying low, the more aggressive property developers are back with new launches, this time armed with innovative financing packages they hope will woo prospective home buyers adopting a wait-and-see stance.

According to Penang-based Raine & Horne International Zaki + Partners’ Michael Geh, property prices on the secondary market are down. Rising unemployment due mainly to the closure or downsizing of manufacturing operations hit by the global credit meltdown are expected to drive property prices down by 10% or so this year.

Even thought Bank Malaysia to cut loan repayments and banks continue slash interest rate recently, the demand for property in Penang are still in decreasing trend. The property prices dip is likely to occur in addresses with speculative elements and he identifies these as Bayan Lepas, Bukit Gambier and Sungai Dua (southwest district),Gurney Drive and Batu Feringghi (north east district). Read more »

Property in Malaysia & Malaysia’s real estate investment trusts (REITs) have been sold down and are trading below their net asset values (NAV), made worse by the softening property market and weakening rent yields.

The challenges facing REITs is not only the negative property market sentiment towards equity, but also the inability to raise capital growth due to tightening credit. Despite the challenging economic conditions this year, REIT managers in the country are confident they can mitigate the impact by looking at various options to raise capital, acquiring properties prudently and focusing on existing assets to ensure strong tenancy.

Axis REIT Managers Bhd chief executive officer and executive director Stewart LaBrooy said part of the growth process of a REIT was to continuously acquire properties to enlarge its portfolio.Axis REIT would not discount the possibility of future acquisitions this year although it may not be as intensive as y2008.
But any potential acquisitions will need to be yield-accretion. Read more »

It’s good news for property investor those interested in Australian property and the retired plan is to migrate to Australian. An exciting and prestigious international property event will take place soon in Kuala Lumpur and Penang.

There have been numerous real estate exhibitions in town but the Australia & International Property Fair 09 will display entirely international projects, focusing mainly on Australian Property. The event will showcase all types of commercial and residential projects by established Australian property and international developers.

Interested home buyers or property investors should therefore mark their calendars for the upcoming Australia & International Property Fair 09 that is expected to offer a variety of choice properties. Read more »