US property values 'likely to decline further'

The value of real estate assets in the US - both residential and commercial - is expected to fall by a further ten per cent over the next 12 months.

This is the assertion of the Wall Street Fraud Watchdog, which urged any investors considering ploughing their money into property to be thorough when carrying out due diligence.

According to the organisation, a combination of factors are likely to push real estate prices lower, including economic problems in Europe, the high numbers of foreclosures and pre-foreclosures "in the pipeline" in the US and the forthcoming presidential elections.

However, the body noted that "private money real estate lending can still be a very smart and lucrative investment", as long as the buyer researches the asset they are considering properly.

Figures released by the National Association of Realtors last month showed that despite a month-on-month fall in existing home sales during September, transaction levels remained well above those experienced during the same period in 2010.

Like this? Then share with your friends and colleagues!