Jobs Classifieds Real Estate Rentals Autos – Cedar Rapids Gazette

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GM looks to sell UK operations – Guardian Unlimited
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The Rich are Making Big Money in Real Estate

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The over-whelming majority of America’s wealthiest families have made their fortunes in real estate, according to a new study.

The survey, conducted over a two-month period before the end of 2005, indicates those surveyed made their fortunes investing in real estate. The study was conducted by Real Estate Add, which is an information driven website.

Many start out investing in single family homes, par-lay their profits into other real estate and discover wealth in investment real estate. The stock market has produced many wealthy individuals, but not like real estate. Only eleven percent of the 500 respondents surveyed said they made their fortunes in stocks or other investments.

An over-whelming majority of 83% of the Nation’s wealthiest families surveyed made their wealth investing in real estate. Only 11% made their first million dollars in the stock market or other investments. The full report may be read on the Real Estate Add.com website.

Fifty-one percent bought their first few investment properties and waited long enough for the real estate market to appreciate to make substantial profits. Nearly all got financing to start. Some 92% said long term planning was the key to their success.

Only 10% indicated they made great profits by buying fixer-uppers or other properties they made repairs to and sold quickly.

Flipping properties, which is buying real estate and making either repairs to the property or taking advantage of a rapidly appreciating market without making any changes and selling them for a great profit, is the exception to the rule rather than the norm, according to the study.

Most real estate investors who are in the investment real estate market for more than 5 years, which is considered a long term investor in real estate, make their profits over more than double the initial amount they invested. That’s understandable when there are real estate markets like Portland, Oregon, which has tripled in price in the last 10 years.

Other places like Destin, Florida, which is a resort real estate market and as such is leading the real estate industry growth in the second home market, has seen property values double in the past five years. The Silicon Valley, home of the high tech industry in San Jose, California has seen prices increase at even higher levels.

There are many places like that in the Nation’s real estate markets from coast to coast. However, there are still some great buyers markets where there are shortages of investment real estate for tenants to rent.

Real Estate economists compare the trend to other forms of investing, but caution investors to have a long term plan to cover expenses in case there are unexpected periods of vacancy. Some investors in today’s real estate market have purchased properties without sufficient funds to cover expenses in case tenants suddenly move out.

About the Author

Mike Colpitts is the publisher of Real Estate Add. com, which provides up to date real estate market information on residential real estate for all 50 states at http://RealEstateAdd.com Mike has been counseling real estate investors since 1989.

Daly City California Real Estate

Daly City, California, is located in San Mateo County, 5 miles SW of San Francisco, California. Daly City has a population of 103,621. The majority of its residents work in nearby San Francisco, and Daly City has proven to be a popular and affordable place in which to live, play, and raise families. Indeed, many parks and services are geared towards families with young children, such as libraries and civic improvements. With homes that can accommodate large families, Daly City enjoys an ethnically diverse population and its restaurants and shops reflect this healthy diversity.

Daly City properties pool is 30,727 residential properties including Daly City new homes. The median age of real estate in Daly City is 1962. The average household size is 3.78 people. 10% are one-bedroom homes, 27% are 2 bedroom homes, 40% are 3 bedroom homes, 17% are 4 bedroom homes, and 4% are 5+ bedroom homes.

Homes With No Mortgage – 23%
Homes With Mortgage – 77%
First Mortgage Only – 56%
First & Second Mortgage or HELOC – 21%

Daly City Real estate Tax: Median Real Estate Taxes (2000) were $1,884 compared to 1999 Median Family income $ 68,365. Compare to the national median yearly Real Estate Tax $1,300 and the national median Family Income $42,000 (1999).

Daly City School District: Children make up 22.5% of Daly City population. Daly City has 23,278 under 18 years old residents, or 0.47 kids per one worker, or 0.76 kids per one household.

Daly City Real Estate & Daly City Homeownership

There are 5530.86 or 18% one-person households, 7681.75 or 25% two person households, and 5223.59 or 17% three person households in Daly City, California. Median residents age is 35.4, Senior citizens (65+) make up 12,486 or 12%% of Daly City population.

There are 49,640 workers (over 16 years of age) in Daly City. Of these, 77.98% drive to work. Approximately 17.84% of workers in Daly City take public transportation, primarily, the bus system as well as Bay Area Rapid Transit (BART) trains. An estimated 1.34% walk to work.

Median Daly City homeowner’s housing expenses are 22%

Crime in Daly City (2003), crimes per 10,000 residents per year
Violent Crimes – 33.2
Robberies – 14.86
Aggravated Assaults – 16.02
Property Crimes – 209.61
Burglaries – 23.35
Larceny-Thefts – 143.79
Motor Vehicle Thefts – 42.46

When making a decision about buying real estate in Daly City California area, you should consider the area?s diversity. The following are Daly City?s statistical data:

Near Medium City –
Near Large City – San Francisco, California
Daly City Zip Codes – 94014, 94015
Daly City Area Codes – 650
White population – 25.9%
African-American population – 4.56%
Asian – 50.69%
American Indian & Alaskan – {-}%
Hispanic (of any race) – 22.27%
Median Family Income (1999) – $ 68,365%
Population Below Poverty Level – 7.01%

About the Author:

Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of http://www.explainingmortgages.com/, a real estate and mortgage resource site devoted to making mortgage terms and products easy to understand.