California Real Estate Economics
Colorado real estate: Does it Rock?
We know that Colorado is known for Rocky Mountains. But does the Colorado real estate rock as well? Though Colorado real estate doesn’t rock that much, as per the statistics (and when we compare Colorado real estate to others like Florida real estate or California real estate). However, there are people with contrarian views as well. And believe me, contrarian views do sometimes get huge profits for you, because in such circumstances you will generally face lesser competition from other real estate investors and you can probably get a Colorado real estate piece for much lesser than it actually is worth.
However, we are not saying that Colorado real estate has performed badly. Though I don’t remember the exact statistics but Colorado real estate appreciation was about 5-7% only which is much lower to 25% or so for Florida real estate. Again, when we say 5-7% appreciation in Colorado real estate, we are talking about the state in general. So, it’s quite possible that there be regions in the state where the real estate appreciation is say 25% and there could be places where there has been no appreciation in real estate. The opportunity is always there, the only thing you need is the art of finding the Golden deal in this Colorado real estate market.
When assessing Colorado real estate you must take into consideration various factors e.g. you must assess the overall economic indicators and check what effect it can have on Colorado real estate (both in the near term and in the longer term). You don’t need to be a financial analyst or a real estate guru for doing this assessment, you just need to keep track of various news items and analysis reports on Colorado real estate. Also keep track of the mortgage rates and laws on tax breaks (as applicable to Colorado real estate).
All these factors influence the trend of real estate anywhere (not in just Colorado). Moreover, you will need to hunt for Colorado real estate opportunities by going to public auctions, foreclosures, teaming up with attorneys for information etc. Again, remember that a not-so-good news about any real estate (be it Colorado real estate or Florida real estate), doesn’t mean that real estate investment won’t make sense at that place; in fact, it might cut down the number of competitors you have.
So, if you feel that Colorado real estate doesn’t rock; you can probably make it rock for you. There always are plenty of opportunities.
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Can I file chapter 7 bankruptcy?
We had a business in California for 10 years, after 9-11-2001 we started losing our customers due to economics and we had to file bankruptcy in 2002 on both personal and business. We filed chapter 7. We moved to Florida, did not start a business and now my husband’s job has taken a turn for the worst, he is a salesman and the commission is not the the same to be able to make the payments that we have. There is no equity in the home to be able get a line of credit due to the real estate market and we are just barely keeping afloat making minimum payments on unsecured cards. We have exhausted all the savings and my husband cashed out his 401-k, our stimulus package payment went to our mortgage. Now I am considering the Chapter 7 but how long before I could file for this?
Correct, it’s 7 years from the date of discharge from the first one. You will need to consult with an attorney. Did you file the business or was it personal as well?? If it was only the business, you may be able to file…depending on your qualifications. You need to consult a local qualified attorney to have them review your income, debts, assets and last 4 years of taxes, this will determine if you do in fact qualify for a chapter 7 with the time line, if you don’t qualify you can qualify for a chapter 13. Most attorney’s will see you on a first free consultation or first free hour.
Good Luck!
Economic Stimulation & Real Estate (1/6)
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