Do not buy house without Budgeting

If you are going to buy a new house there are different things that you should think before getting started .One of the highly appreciative is your budget. It will be complicated if you don't know how much you are going to afford and how much you are left with .

Your budget plays a vital role in buying a home and how you are going to move further. There are two different things that go into your budget. First, you need to look at your monthly income .If you are getting a steady paycheck then it is easy to move forward . On the other side if you are self employed it will be little bit complicated.

Just make sure that when you are looking at these things that you write down information what you get all the time. If you mess up this process you could end up in a bad situation and it will become very trouble to you. Now you know your monthly income , the next step is to consider your expenses. This includes everything from utilities to loans to money that you need for fun. When you know all of your expenses, you can then decrease that number from the money that you make each month.

This will give you a very good idea as to how much money you have left over on a monthly basis. From there, you can probably guess how much you can afford to a home. As you can see, a budget is very important if you are going to be buying a new home. Not only it will help you to prepare for the buying procedure, but it will also help you when you own your home . Sure, you may be able to get away without planning your budget but this is not a risk that you should be willing to take. Instead, take a few minutes and plan out an exact budget that you can follow during the entire buying process. so you have to carefully prepare a decent budget before buying a house.

Top Ten Best Housing Markets Across America on the eyes of Forbes’

forbes.com recently released their list of Top 10 Best Housing Markets Across America. Which based primarily on the stability of each metro area as measured by affordability rankings and foreclosure rates as an indicator of a lack of excess inventory, making the top cities what they call the best opportunities for home shoppers. Forbes is pretty reliable with their data analysis and take a big picture view of the market.

Here are the top ten best housing markets:

1. Pittsburgh, PA
2. Louisville, KY
3. Houston, TX
4. Minneapolis, MN
5. Indianapolis, IA
6. Memphis, TN
7. Columbus, OH
8. St. Louis, MO
9. Dallas/Ft. Worth, TX
10. Austin, TX

Chinawants wants to slow property inflation

According to Reuters in recent months Beijing has tightened the rules governing mortgage down payments and hoarding by developers of land and finished apartments in order to put a brake on property price inflation -- a major complaint among ordinary Chinese.

In a statement released during the annual session of China's parliament and its political advisory body, the ministry said property prices had now stabilized. The Chinese government has succeeded in curbing property speculation in some cities where real estate prices were rising too fast, the Housing Ministry said on Monday, acknowledging that strong demand will continue to drive prices.

Minister Jiang Weixin told to reporters, that "Because of a number of initiatives taken by the central and local governments, I believe that housing prices will develop in a relatively stable way”.

Sharp rises in housing prices have become a pre-occupation of Chinese society and the topic of a popular and controversial television series.

Many middle-class Chinese benefited from early housing reforms that allowed them to own, and then sell for a high profit, former state-owned housing. Others have vaulted into the ranks of the wealthy by flipping high-end housing.

But many young couples gloom of being able to buy a home.

Local governments preventing social unrest also need rising real estate prices to keep revenue flowing. Nonetheless, demand would bolster Chinese property prices for the next 20 years as China's huge rural population migrates to cities, and as families seek more spacious apartments.

Global Real Estate Market Forecast to Recover

The volume of global commercial real estate transactions is expected to increase around 30 percent this year from a year ago to US$478 billion, with Asia the most active region, according to a report released Wednesday by property consultants Cushman & Wakefield.

Last year the global volume plunged 23 percent on-year to $365 billion, the lowest since 2003, amid the worldwide financial crisis. The volume could surpass the estimate for this year if the world economy continues to recover, C&W said.

The firm predicted the Asia-Pacific region to keep leading the recovery in the real estate market this year as it did last year. The region expanded its share to 59 percent of the global volume, outpacing Europe and the U.S. The property market in the region will grow 20 percent on-year in transaction volume (in money terms) this year, maintaining its lead, C&W said.

China saw the most brisk property trading in the world last year as investment in the country soared 143 percent from 2008, and C&W forecast that China will continue to dominate the world market this year. The firm said that besides China, many investors are keeping an eye on markets with affluent liquidity such as France, Germany and the U.K. In the second half of this year investment activity will increase in the U.S. as well, it added.

Meanwhile, the rental yield, or price/rent ratio, is forecast to decline this year. The yield averaged 7.8 percent in the global market last year, down 0.2 percentage point from a year earlier, and is likely to decline by 0.25-0.5 point this year.

China is going to beat United States in the real estate investment department

While China may not have beaten the United States during the Olympic Games, it is soundly trouncing United States in the real estate investment department.

Business Week says that real estate investment in China was up to $156 billion last year, double the total of the 2008. With China’s economy expanding at a 10.7% rate on an annualized basis, based on 4th quarter results, it is not surprising to see large pools of capital launch themselves into the China market, Of course, the $586 billion stimulus package that was set in motion by Premier Web Jiabao certainly did not hurt the perception of China as a veritable blast furnace of growth.

However, this rapid rate of economic expansion has caused China to take a hard look at the acceleration in real estate prices. In January, the government put back in place a sales tax on homes that are sold within the first five years of ownership. This government imposed braking system appears necessary to curb what looks like a new real estate bubble, as estate prices in December showed their highest rise in the last 18 months.

As China reveled in real estate triumph, the United States simply slumped by 64% to a not so grand total of $38,000,000 in investment sales. However, the Wall Street Journal suggests that as the U.S. lumbers its way out of recession in 2010, property investment will increase by at least 50% to $64 billion. This is likely to occur because of the sheer volume of distress sales and continually falling prices due to the glut of available investment property. There are large number of investors sitting on piles of cash, waiting to pounce on the perceived bottom of the market when it finally arrives.

In Europe, with England, France, and Germany in the lead, a strong rise in real investment sales is predicted by the New York Times, which says that volume of investment property should rise by at least 43% to $151 million. This stimulus is likely to be lead by Great Britain, whose prices fell by 44% and bottomed before those of most other nations. It was this price drop, along with a falling pound, that gave the initial impetus to investment and helped to increase property prices in that nation.