Real estate housing and mortgage update

Yesterday's rise in new mortgage approvals in England, aka the UK, rose by 6,000 to 120,000, just under the monthly average for the previous six months is likely to be on the minds of house-price watchers ahead of next week's Bank of Englands's/MPC meeting.

The figures suggest that the three increases in interest rates since last summer have done little so far to dampen down demand from house buyers.  Mortgage approvals are a good indicator of near-term trends in the property market and together with the RICS house price expectations balance is perhaps one of the better indicators available.

The total value of all the new mortgage loans approved - including re-mortgaging - came to Gbps 32.2 Billion.  This made January's mortgage lending figures the second-highest on record for any month.  As a result, UK consumers accumulated personal debt now stands at just under Gbp 1.3 Tn - a 35% increase in just 3 years.

Could the Uk's mortgage activity cross over to the US and be a boost to the housing market?  Will it help both Bubbleville and Bargaintown markets?  What effect will more personal debt have in the future?

I recommend you stay with the plan to focus on Bargaintown markets and follow the recipe for success I outline…

Be smart about real estate investing by following the 4-step recipe - plus a two-some

Don't speculate with exotic loans and, dare I say, don't buy at market value.  This is the time to be a bargain shopper.  Be a smart real estate investor by following the 4-step recipe:

1. Buy discount real estate property - foreclosures, pre-foreclosures, tax sales, real estate auctions, real estate repos and other distressed-seller opportunities.
2. Consider commercial real estate investments - apartment buildings, retail centers, storage unit facilities, office buildings.  I have provided you with an awesome commercial loan resource at my website to buy these properties with as little as 10% down (even 5% down on certain property types).
3. Buy in Bargainville - the next hot emerging real estate markets across the country.  
4. Get a mentor.  Learn from real estate investing experts who have already done this successfully.  There are a number of them featured in the Real Estate Investing Guide Section of my website.

Plus a two-some - Maintain or restore your good credit rating and eliminate your debts! This important ingredient is not a must in order to buy real estate, but it sure helps to open up your options and get the best interest rate at the lowest cost for your mortgage.  If your credit has derogatory accounts or you have too much debt, there are proven strategies to legally force the credit bureaus, like equifax [aka myequifax], to remove derogatory accounts from your credit report. There are also effective strategies to greatly reduce your debt, including a one page letter you send to your creditors.

I've done the research to discover three experts who have developed these effective methods to repair your credit and eliminate your debts.  You can check them out in the section Tried and Proven Bad Credit Repair and Debt Elimination Strategies.

Technorati Tags: real estate, real estate markets, finance, money, mortgage, housing, investing, England, UK

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