US houses price drop. Are you ready to buy one?

Those who want to purchase a home in the United States have to pay, besides the house, other costs of over 15% of the investment itself. Also, they must take into account the time lost and that they will have to wait many years to recover their investment.

In the last year, U.S. housing prices reduced by 15.9%, according to the index developed by Standard & Poori's and Case-Shiller, which takes into account the evolution of the ten most important cities in the country. Thus, housing prices have reached in July 2008, on average, at the same values as of July 2004. For example, according to Century 21, one might buy a house in a suburb of Los Angeles city with approximately 100,000 euros, with a surface of 260 square meters, three rooms. At the same price one might buy an apartment with two rooms, with an area exceeding 205 square meters building, located in the same area, but in a Condominium pool. All 100,000 euros one can get an apartment with two rooms with area of 161 square meters, in a suburb of New York.

Calin Popescu-Tariceanu, Romaniai's Prime Minister said that lowering real estate market in the United States of America would allow Romanians to buy houses and real estate assets in this country at lower rates.

Foreigners have no restriction regarding the possession of a property in the United States. But Romanians have to take into account the period required to obtain a visa, as well as time spent in this respect. Those who do not want to take themselves care of purchasing the house will look at a realtor or a lawyer. In some cases there is a need for both. For brokering a transaction, a realtor in the U.S. receives about 6% from the value of the transaction. Add to this amount the lawyeri's advice tax which is some thousands of euros worth.

Buying a house implies an offer, in written form ranging from one state to another. The offer may be lower than the one requested by the owner. If the offer is accepted, it ends with a deal, which obliges both buyer and seller to find an appropriate date to complete the transaction. The period is necessary for to check the documents and ownership the title and to obtain financing. If you buy one that does not respect the last time in understanding, the property may again be removed from sale.

Depending on where you buy the house you will pay fees of 3% and 5% of the dwelling, which are paid before purchasing it. Thus, add another 3,000 - 5,000 euros. These charges ensure the house, visiting the house, title insurance and property tax stamp. Most fees will be paid by those who buy through a mortgage loan. In addition, those who buy a home through a loan have to pay several hundred dollars. In addition, it can be checked on-line. Besides price and all costs of ownership, another cost is the one for transport, between 570 and 620 euros for round trip ticket. The duration of such a flight ranges between 11 and 15 hours. Another cost is the one for accommodation during checking and buying the house. Add another approximately 1,000 euro for accommodation in a three-star hotel, without other expenses related to the stay.

Property taxes paid annually varies from state to state. Those who want to understand the legal system in the U.S. will need a consultant, because they vary greatly from state to state. In addition, there are different ways to deduct the fees. Tax on capital may vary, but those who have owned more than a year pay between 8% and 15% of its value. Those who rent a house pay approximately 30% of the income of local authorities. Those who want to sell will not pay any tax, but in 36 of the 51 state the fee for the transfer of property varies between 1% and 5% of the value of the property. U.S. prices for the houses could start to grow again in 2009, according to the National Association of Realtors in the U.S. estimation (National Association of Realtors).

The Prime Ministeri's initiative is not the only one, nor the first. In real estate fairs during this spring, representatives of owners in the U.S. sold a lot of houses to the Romanians. The prices promoted then to Miami, Florida were approximately equal or even lower than those in Australia.

The rent for a two roomi's apartment with an area of 205 square meters, including terraces, in Los Angeles varies depending on location between 700 and 2,500 euros. With the reduction of the houses prices, the lease has started to dwindle and, with an average of 60% from the last year, it reached the values of mid-2005. By comparison, in Camp Road area of West Capital, a two roomi's apartment can be rented with an average of 510 euros per month, according to a study of "Agentie.net" company, which takes into account the offers of flats owners. In the last year the rents for apartments in Bucharest have increased with an average of over 12%. The price of an old two roomi's apartment in this area ranges between 90,000 and 120,000 euros.