As a professional Home Stager in Orlando, Florida, I see hundreds of homes each year and am acutely aware of what sells, and what does not! Through the art of effective home staging, I have learned that the increased perceived value of a home will also increase the selling price, and decrease the amount of time a home is on the market.
The following is a list of Five-Star Home Staging solutions, giving you an exclusive peek on ways to make your home staging take 'center stage' to successfully sell in a slower market:
Start With Curb Appeal - Create an unforgettable first impression that will prompt your buyer to want to cross the threshold. Having manicured landscaping, an impressive front door, and proper and up to date lighting are no longer considered to be optional, but are a necessity for todays savvy buyer. Many potential sales are made, or aborted from curbside!
Enchanting Entrance - Make it grand! Once across the threshold ,you have only 10 seconds to create the initial WOW factor response in your buyer . . . making them want to experience more of what your home has to offer! Create some excitement with the addition of an oversized mirror or dramatic piece of Art. And of course, fresh cut seasonal flowers and strategically placed lighting are always a nice way to greet your guests.
Refresh, Rearrange and Replace - Update worn attributes. Arrange the furniture so that the feel and flow of each room is warm and inviting. Clean or replace tired carpeting, upholstery and window treatments. Replace out-of-date light fixtures and hardware. Sand, refinish and buff hardwood floors, pressure wash stone, polish the silver . . . remember, company is coming and you want to present your home in 'showcase' condition!
Upgrade - For example, stainless Steel appliances add a commercial look of perceived value, along with a sense of brilliance and success to a home. Also, whenever possible, throw in a glass-front wine cooler for even more "sell appeal"!
Simply Sophisticated Five-Star Treatment - Give your bathrooms and bedrooms the 'luxury suite' attention that you only find in the finest hotels! Soft whisper colored walls, plush white towels, sheets, comforters and duvet covers, scented reeds and candles, a tray with a couple of good best selling books to curl up with . . . a spa robe casually draped over the arm of a lounge chair. . . remember, you're not only selling a home, but a five-star lifestyle!
Get Organized - Clear the deck and remove the clutter. Closets should both look good, and smell good! Rack or drawer your shoes and accessories, leaving nothing on the floor. Add cedar blocks for scent and invest in matching wooden hangars to project a successful lifestyle.
Be Soothingly Entertaining - Add a soundtrack of Soft Jazz to play in the background. Install a plasma TV tuned to an eye catching, replaying, high density disc of panoramic scenes. You want to present your home as modernized and updated.
Addition of Smoke and Mirrors - Accentuate and add the illusion of square footage by dramatically and strategically placing mirrors in small areas, using special effect lighting techniques, and incorporating and including the increasingly popular outdoor retreat areas in your overall design theme.
Home Staging is a dynamic, fast way to provide for your guests the "MAJOR WOW" factors needed to create an increased perception of brilliance, success and value . . . thus, setting the stage to bring your home to its finest potential, increase the sale price, and reduce the time your home is on the market!
Jeannene H. Edwards, owner of INTERIORS DEFINED,INC. is a highly sought after professional home stager and licensed interior designer in Orlando, Florida. She has merged with DAVID EDWARDS CONSTRUCTION to now offer complete architectural design and building services to further meet the needs of her clientel. Jeannene, known for her dynamic and informative seminars, is available to speak for sales meetings and group events. Her award winning designs and 'how-to' articles have been widely published in newspapers, magazines and trade manuals nationally. INTERIORS DEFINED, INC. is a five-star full service interior design and staging company, specializing in classic design and casual sophistication. To show you how to avoid the guesswork and save thousands of dollars and aggravation to get your home sold in today's challenging market, or further information regarding the many additional design, remodeling and building services being offered, please contact Jeannene Edwards or David Edwards at: http://interiorsdefined.com
Article Source: http://EzineArticles.com/?expert=Jeannene_Edwards
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Wednesday, October 31, 2007
Sunday, October 21, 2007
A Show Home is a Sold Home
There's no doubt about it, when your home is for sale, it needs to be set up like a show home. That means it must be clean, tidy and sparsely furnished. Think about it on these terms: the buyer wants to purchase a home, not your stuff. Eliminating extra stuff helps them clearly see the home they are considering buying, whereas a cluttered home becomes unappealing.
Another aspect of this is that your home can no longer be about your personality. This goes beyond mere decorating, and in fact, it is beneficial to keep your paint colors neutral. If you have a bold paint job, some people might really like that. But the majority of people would rather have neutral colors in their home, or decide on their own bold color schemes. So if you want to sell faster, consider painting over your bold colors with tones of off-white. That way, a buyer sees this as a blank canvas waiting for them to fill.
First impressions are important, and that means you need to consider how your yard, the front of your home, and especially the front door and door step appear. Faded paint needs to be re-done. A sticky door will imprint the buyer with the impression that repairs are needed. Avoid this by doing any minor repairs and paint jobs that will improve the first impression of your home.
Finally, consider things like smell and overall ambiance. Pet or tobacco smells should be eliminated by professional carpet and drapery cleaning, and possibly a nice, but not overpowering, air freshener. Make sure kids and pets aren't bustling about, making messes and distracting buyers when they view your home.
It might be best to plan showing days when no one, including yourself is around. Let the agent describe your home in terms that match what the buyer is looking for, without the distraction of too much clutter or noise to distract them from what they are looking at: a new home to buy.
Jerry Clifford is a Minneapolis Realtor® who has lived there most of his life. Because of this, he really knows his specialty: any and all real estate in Minneapolis.
Article Source: http://EzineArticles.com/?expert=Jerry_Clifford
Another aspect of this is that your home can no longer be about your personality. This goes beyond mere decorating, and in fact, it is beneficial to keep your paint colors neutral. If you have a bold paint job, some people might really like that. But the majority of people would rather have neutral colors in their home, or decide on their own bold color schemes. So if you want to sell faster, consider painting over your bold colors with tones of off-white. That way, a buyer sees this as a blank canvas waiting for them to fill.
First impressions are important, and that means you need to consider how your yard, the front of your home, and especially the front door and door step appear. Faded paint needs to be re-done. A sticky door will imprint the buyer with the impression that repairs are needed. Avoid this by doing any minor repairs and paint jobs that will improve the first impression of your home.
Finally, consider things like smell and overall ambiance. Pet or tobacco smells should be eliminated by professional carpet and drapery cleaning, and possibly a nice, but not overpowering, air freshener. Make sure kids and pets aren't bustling about, making messes and distracting buyers when they view your home.
It might be best to plan showing days when no one, including yourself is around. Let the agent describe your home in terms that match what the buyer is looking for, without the distraction of too much clutter or noise to distract them from what they are looking at: a new home to buy.
Jerry Clifford is a Minneapolis Realtor® who has lived there most of his life. Because of this, he really knows his specialty: any and all real estate in Minneapolis.
Article Source: http://EzineArticles.com/?expert=Jerry_Clifford
What to Do When Your Home is Not Selling
When you sell your home, the process is almost like going to an interview. Selling a home involves the presentation, which was one of the main factors that determine the results. While this may seem a little strange, the presentation is a way of life in the world of real estate. Buyers in today's market look good presentation many basing their final decisions on this matter.
If the property you are selling comes with a garage, you have to go through your garage before you sell your home. There is a good chance that you store things in your garage, which can easily accumulate over time before realizing. If your garage is in a state of disarray, you want to clean it up, of course. In the eyes of buyers for the homes that are in perfect condition, and nothing less than perfect look bad in the eyes of the buyer.
Most houses have truly outstanding features of the interior. You should always do your best to highlight the best features of your home, instead of just hoping that the buyer understands what they are. The ideal way to bring out the best features is to use good lighting. If your house is clean, you can use lighting to highlight the best elements in your home, and ensure that they stand out to the buyer.
When a potential buyer pulls up to your first home; The first thing he sees is your lawn. If your lawn is cut and well taken care of, he will have a good impression on the right bat. If your lawn is a wreck, it can immediately depart. To give the best impression to the buyer, you should put some thoughts on how things stand. You can always plant flowers around the promenade and throughout the court, which will look like a big potential buyer.
You should also make sure that entry into your home is a positive as well. The front door should be in great shape, and the entry into the reception area. You can add plants, tables, carpets and to ensure that your buyer has a good impression. When the buyer walks through the entry way into your home, you should make sure that the point of view that he or she takes is a good. Your biggest goal when viewing your home is to ensure that the buyer is happy.
Keep in mind that it may take some time to sell your home. These days, the houses can sit on the market for months at a time before selling. If you are unable to sell your home, you can always reduce the price or simply return to the basics. Eventually you will sell it, even though it may take longer than you think.
For more information please visit http://www.prorealestate101.blogspot.com
Article Source: http://EzineArticles.com/?expert=Dee_White
If the property you are selling comes with a garage, you have to go through your garage before you sell your home. There is a good chance that you store things in your garage, which can easily accumulate over time before realizing. If your garage is in a state of disarray, you want to clean it up, of course. In the eyes of buyers for the homes that are in perfect condition, and nothing less than perfect look bad in the eyes of the buyer.
Most houses have truly outstanding features of the interior. You should always do your best to highlight the best features of your home, instead of just hoping that the buyer understands what they are. The ideal way to bring out the best features is to use good lighting. If your house is clean, you can use lighting to highlight the best elements in your home, and ensure that they stand out to the buyer.
When a potential buyer pulls up to your first home; The first thing he sees is your lawn. If your lawn is cut and well taken care of, he will have a good impression on the right bat. If your lawn is a wreck, it can immediately depart. To give the best impression to the buyer, you should put some thoughts on how things stand. You can always plant flowers around the promenade and throughout the court, which will look like a big potential buyer.
You should also make sure that entry into your home is a positive as well. The front door should be in great shape, and the entry into the reception area. You can add plants, tables, carpets and to ensure that your buyer has a good impression. When the buyer walks through the entry way into your home, you should make sure that the point of view that he or she takes is a good. Your biggest goal when viewing your home is to ensure that the buyer is happy.
Keep in mind that it may take some time to sell your home. These days, the houses can sit on the market for months at a time before selling. If you are unable to sell your home, you can always reduce the price or simply return to the basics. Eventually you will sell it, even though it may take longer than you think.
For more information please visit http://www.prorealestate101.blogspot.com
Article Source: http://EzineArticles.com/?expert=Dee_White
Seller Reassurance That Buyers Will Come To The Closing Table With Funds In Hand
In the market that we're in right now in most parts of the country, it's more important than ever to make sure that if you are selling your home, that the buyer is going to come to the closing table with funds. It is crucial to make sure your buyers are really pre-qualified. There are still many deals that are falling through at the closing table because the buyers lose their funding at the last minute.
The reason this is happening is because we are still going through a bit of a mortgage crisis. Recently, American Home Mortgage, which was the number one mortgage lender, closed its doors. That is a very scary thing, and it's very real. Even if your buyers are pre-approved for a loan, there is no guarantee that the mortgage company they are going through will still be in business in 30 or 60 days when it comes time to close on your home.
One effective way to work to prevent this from ever happening to you or your loved ones is to require that the buyer be preapproved by a lender of the seller's choice as a contingency plan before accepting the offer. By doing this, if the buyer's lender fails to produce funds on the day of the closing, you can be assured that the buyer still has a way to obtain the funds. Putting a backup plan in place as simple as this could be the right insurance to make sure your deal still goes through should any funding problems arise on the closing date.
Another safeguard you can take is to make sure you are working with trusted professionals who are looking out for your best interests. That could also make the difference when it comes to closing the deal.
This article was written by Mike Tiburtini. Mike is a licensed Real Estate Professional in Illinois. He specializes in working with first time home buyers in the Chicago Real Estate Market. He has been in the real estate field since 2006 and continues to strive to provide the best customer service possible. Mike believes that his clients should get the customer service and care that they deserve.
To get free buyer reports, free seller reports, and free reports on how to sell your home for sale by owner, please visit http://www.ChicagoRealEstateExpert.com
Article Source: http://EzineArticles.com/?expert=Mike_Tiburtini
The reason this is happening is because we are still going through a bit of a mortgage crisis. Recently, American Home Mortgage, which was the number one mortgage lender, closed its doors. That is a very scary thing, and it's very real. Even if your buyers are pre-approved for a loan, there is no guarantee that the mortgage company they are going through will still be in business in 30 or 60 days when it comes time to close on your home.
One effective way to work to prevent this from ever happening to you or your loved ones is to require that the buyer be preapproved by a lender of the seller's choice as a contingency plan before accepting the offer. By doing this, if the buyer's lender fails to produce funds on the day of the closing, you can be assured that the buyer still has a way to obtain the funds. Putting a backup plan in place as simple as this could be the right insurance to make sure your deal still goes through should any funding problems arise on the closing date.
Another safeguard you can take is to make sure you are working with trusted professionals who are looking out for your best interests. That could also make the difference when it comes to closing the deal.
This article was written by Mike Tiburtini. Mike is a licensed Real Estate Professional in Illinois. He specializes in working with first time home buyers in the Chicago Real Estate Market. He has been in the real estate field since 2006 and continues to strive to provide the best customer service possible. Mike believes that his clients should get the customer service and care that they deserve.
To get free buyer reports, free seller reports, and free reports on how to sell your home for sale by owner, please visit http://www.ChicagoRealEstateExpert.com
Article Source: http://EzineArticles.com/?expert=Mike_Tiburtini
Making a Home Sale Easier During Divorce
Divorce is a word that most people don’t like, but that everybody knows. One thing that is frequently a result of a divorce is the sale of a family home. In a traditional litigated divorce, the home sale can get pretty messy and ugly. The divorcing parties often fight about price, how to show, who will occupy the residence, etc. The outcome many times is not one that maximizes value for the divorcing parties.
Enter a term new to me until today: collaborative divorce, which is a part of collaborative family law. Collaborative law is different than litigation in that the parties don’t go to court. The collaborative law process tries to help both sides remain safe and more in control. The collaborative process most often involves a team of neutral parties who work with both sides as guides.
During a collaborative divorce, each party can meet with a team that often involves neutral lawyers, communication specialists and financial advisors. In the beginning of the process, both parties and their attorneys agree that neither party will take an issue to court. Both parties also agree to share information freely, whether it is requested or not. This gets people away from the traditional discovery process. The collaborative divorce process also seeks to protect the interests of all who are affected. This includes both spouses and the children, if there are any.
Collaborative divorce focuses on trying to see that both parties treat each other with mutual respect. This not only benefits both spouses, but also the children, who see their parents treating each other with decency rather than fighting. Another important thing about a collaborative divorce is that keeping it out of court means that the information about the divorce remains private.
When it comes to the sale of the family home, collaborative divorce is much better than a litigated divorce in my opinion. As a REALTOR®, dealing with a couple in the middle of a litigated divorce can be terribly difficult. The lack of agreement on price, upkeep of the house and yard, showing the house and the rest of the process can be extremely stressful. Many REALTORS® will refuse to take a listing in a litigated divorce situation because it is so stressful.
Selling a home when doing a collaborative divorce is easier on everyone. The husband and wife have already agreed to cooperate. They have the advice of neutral professionals to help them understand the process and agree on terms. These professionals will try to help find a REALTOR® who will price and market the home according to the state of the market. In a litigated divorce, some homes are often priced from an emotional point of view rather than seeing what the market is saying.
During a collaborative divorce, the decisions are made by both husband and wife with the help and guidance of neutral parties. It isn’t one against the other. The neutral professionals make sure both parties are fully aware of details, options and consequences. They make sure that the husband and wife make mutual decisions that benefit both appropriately. This can help make the sale of a family home, which is hugely emotional anyway, much easier than if the issue was taken to court.
Sam Chapman is an Austin REALTOR® who has lived in the Lake Travis and Austin area for 20 years. He is very active in the community and schools as a volunteer. Learn about Austin, TX real estate Visit the Collaborative Law Institute of Texas
Article Source: http://EzineArticles.com/?expert=Sam_Chapman
Enter a term new to me until today: collaborative divorce, which is a part of collaborative family law. Collaborative law is different than litigation in that the parties don’t go to court. The collaborative law process tries to help both sides remain safe and more in control. The collaborative process most often involves a team of neutral parties who work with both sides as guides.
During a collaborative divorce, each party can meet with a team that often involves neutral lawyers, communication specialists and financial advisors. In the beginning of the process, both parties and their attorneys agree that neither party will take an issue to court. Both parties also agree to share information freely, whether it is requested or not. This gets people away from the traditional discovery process. The collaborative divorce process also seeks to protect the interests of all who are affected. This includes both spouses and the children, if there are any.
Collaborative divorce focuses on trying to see that both parties treat each other with mutual respect. This not only benefits both spouses, but also the children, who see their parents treating each other with decency rather than fighting. Another important thing about a collaborative divorce is that keeping it out of court means that the information about the divorce remains private.
When it comes to the sale of the family home, collaborative divorce is much better than a litigated divorce in my opinion. As a REALTOR®, dealing with a couple in the middle of a litigated divorce can be terribly difficult. The lack of agreement on price, upkeep of the house and yard, showing the house and the rest of the process can be extremely stressful. Many REALTORS® will refuse to take a listing in a litigated divorce situation because it is so stressful.
Selling a home when doing a collaborative divorce is easier on everyone. The husband and wife have already agreed to cooperate. They have the advice of neutral professionals to help them understand the process and agree on terms. These professionals will try to help find a REALTOR® who will price and market the home according to the state of the market. In a litigated divorce, some homes are often priced from an emotional point of view rather than seeing what the market is saying.
During a collaborative divorce, the decisions are made by both husband and wife with the help and guidance of neutral parties. It isn’t one against the other. The neutral professionals make sure both parties are fully aware of details, options and consequences. They make sure that the husband and wife make mutual decisions that benefit both appropriately. This can help make the sale of a family home, which is hugely emotional anyway, much easier than if the issue was taken to court.
Sam Chapman is an Austin REALTOR® who has lived in the Lake Travis and Austin area for 20 years. He is very active in the community and schools as a volunteer. Learn about Austin, TX real estate Visit the Collaborative Law Institute of Texas
Article Source: http://EzineArticles.com/?expert=Sam_Chapman
What's A Land Contract?
A land contract, sometimes also called a "contract for deed" and other names, is a contract to sell real estate on payments. It is basic seller financing, in which the seller takes payments from the buyer rather than the buyer borrowing from a mortgage lender to pay cash. Many sellers find that by making it easier for the buyer in this way, they can get a higher price and good interest income.
How is it different from playing bank and putting a mortgage on the property? The primary difference is that the deed is not signed over to the buyer until after the last payment. With a mortgage, you give the buyer the deed and take back a mortgage, which then pledges the property as collateral for the money owed to you. But which is better?
That depends. In theory you have the same security in both cases, since there are clear procedures in the legal system for foreclosing on and taking back the property if the buyer defaults. However, the two types of contracts are sometimes handled in different courts. This can be important. Suppose, for example, that the court system which handles land contracts takes six months to process a foreclosure, but the one that processes mortgage foreclosures is chronically backlogged and takes two years. Do you want a non-paying buyer to live in your home for years?
The opposite to the above could be the case in your area, so ask a good real estate attorney before deciding which way to offer seller financing. Of course, if it takes years in both cases, reconsider the whole plan, especially if you will be relying on the income or taking a small down payment.
The Disadvantages Of Land Contracts
It may feel safer to keep the deed in your name, but that part isn't a real issue. As noted, there are procedures to get the property back in either case, so it's really only important which takes longer. But what if they are taking about the same amount of time? Having sold several properties on land contracts, I now think there may be some disadvantages when compared to taking back a mortgage.
My first lesson about this came a few years back when I was facing a $500 (or larger) fine for some junk cars in the yard of a small rental home. "But I sold the property years ago!" I protested to the township official. That's when I learned that they would hold me responsible for ANYTHING wrong with the property until I transferred the deed to the new owner. I had sold to him on a land contract, and he still had several more years to pay.
I would have marched down there and told the renter living there to get rid of the cars, but I had no right. The new owner was the landlord after all. I called him, called again to remind him, and he called the tenant, who moved the cars just before the fifteen-day deadline.
My most recent lesson came in the mail from the county where we sold our home two years ago. We sold it on a land contract, happy that we got 10% more by doing it this way. Now, however, the buyer hadn't paid the property taxes for a year. Again, a couple phone calls got this resolved, and this could happen if we had sold and taken back a mortgage too, but that wasn't the end of this matter. Just before the buyer paid up, I got a letter from a helpful finance company offering me a loan to pay those "back taxes" that they knew were late. Did the credit reporting companies know? Your guess is as good as mine, but I do know that if the deed were in the buyers name, it definitely wouldn't show on my credit report.
Copyright Steve Gillman. To see a photo of the house we bought for $17,500, get a free Real Estate Investing Course, and more, visit: http://www.HousesUnderFiftyThousand.com
Article Source: http://EzineArticles.com/?expert=Steven_Gillman
How is it different from playing bank and putting a mortgage on the property? The primary difference is that the deed is not signed over to the buyer until after the last payment. With a mortgage, you give the buyer the deed and take back a mortgage, which then pledges the property as collateral for the money owed to you. But which is better?
That depends. In theory you have the same security in both cases, since there are clear procedures in the legal system for foreclosing on and taking back the property if the buyer defaults. However, the two types of contracts are sometimes handled in different courts. This can be important. Suppose, for example, that the court system which handles land contracts takes six months to process a foreclosure, but the one that processes mortgage foreclosures is chronically backlogged and takes two years. Do you want a non-paying buyer to live in your home for years?
The opposite to the above could be the case in your area, so ask a good real estate attorney before deciding which way to offer seller financing. Of course, if it takes years in both cases, reconsider the whole plan, especially if you will be relying on the income or taking a small down payment.
The Disadvantages Of Land Contracts
It may feel safer to keep the deed in your name, but that part isn't a real issue. As noted, there are procedures to get the property back in either case, so it's really only important which takes longer. But what if they are taking about the same amount of time? Having sold several properties on land contracts, I now think there may be some disadvantages when compared to taking back a mortgage.
My first lesson about this came a few years back when I was facing a $500 (or larger) fine for some junk cars in the yard of a small rental home. "But I sold the property years ago!" I protested to the township official. That's when I learned that they would hold me responsible for ANYTHING wrong with the property until I transferred the deed to the new owner. I had sold to him on a land contract, and he still had several more years to pay.
I would have marched down there and told the renter living there to get rid of the cars, but I had no right. The new owner was the landlord after all. I called him, called again to remind him, and he called the tenant, who moved the cars just before the fifteen-day deadline.
My most recent lesson came in the mail from the county where we sold our home two years ago. We sold it on a land contract, happy that we got 10% more by doing it this way. Now, however, the buyer hadn't paid the property taxes for a year. Again, a couple phone calls got this resolved, and this could happen if we had sold and taken back a mortgage too, but that wasn't the end of this matter. Just before the buyer paid up, I got a letter from a helpful finance company offering me a loan to pay those "back taxes" that they knew were late. Did the credit reporting companies know? Your guess is as good as mine, but I do know that if the deed were in the buyers name, it definitely wouldn't show on my credit report.
Copyright Steve Gillman. To see a photo of the house we bought for $17,500, get a free Real Estate Investing Course, and more, visit: http://www.HousesUnderFiftyThousand.com
Article Source: http://EzineArticles.com/?expert=Steven_Gillman
Techno-Selling
The real estate sales business, like all other businesses in the world, is in a techno-revolution. The new technology in the world has created tremendous changes and growth in our industry. Agents and companies are dramatically changing the way they do business to take advantage of this vast new frontier. And technology is moving at a faster rate everyday. As an Agent, you must prepare and learn to capitalize on this revolution. The days where you could do your business out of a shoebox with 3" x 5" note cards is gone. The power of the computer age has made many of the things we did years ago obsolete. Agents need to set up their business to run like a true corporation to be successful in this millennium. With these changes, there are a few specific areas we need to evaluate.
In this millennium, contact management and customer service software systems have become more imperative for Agents. Agents will need to have tremendous amounts of information about their clients and potential clients. This information will enable them to become a valuable resource to their clients and, in turn, sell more to their clients. In addition, these Agents will receive more referral business because their service level has increased. In order to join these successful Agents, you will need to be able to keep in contact with your clients quickly, and more frequently, if you hope to create winning sales situations.
I firmly believe, based on the social-economic trends, in the future people will not move so frequently. The average years people spend in one home will increase. There will be fewer moves in people's lifetimes. There are a few factors contributing to this trend. The first is desire of the American people to simplify their lives. In increasing numbers, people are reducing their monthly overhead. There are more single-income families because one of the parents is staying home with the children. This reduction in gross income, caused by the loss of one breadwinner, reduces the discretionary income. Families are making decisions based on the value to the family unit and to the children, especially. They are realizing that living in a big fancy house does not have the same value as having Mom and Dad at home more often. A larger home does not always create a larger, more enjoyable lifestyle. This voluntary downsizing is currently a clear trend in our society.
The second key reason is the largest segment of the population has only one move left. The boomers are now seeking to enter the age of early retirement, while they are still active. The boomers are starting to evaluate where they will move next. They have more selection in the types, and variety, of housing, than all other preceding generations. I think this will be one of the most viable sections of the marketplace. We will see them sell the large family fortress. After that sale they will have many different areas and options of the type of housing they can choose, i.e., condos, townhouses, ranches, retirement communities galore, golf course communities, and 55+ communities. The builders and developers clearly see this group as the fastest-growing segment of the market. They are beginning to gear up for the eventual onslaught.
You need to be prepared to service the boomers by knowing the inventory available and amassing systems to take advantage of the onslaught. Position yourself for the changes today, do not be caught. The new technology will enable you to do more work and research. It will allow you to collect more knowledge and data in a shorter length of time. Not only do you need to have the technology, you need to use it. I regularly see too many Agents resisting change, rather than embracing change. You need to know how to squeeze the most value out of your software. You need to have the software, but you also need to use it. Not using the software is like not having it in the first place.
You must have a command of your contact management software. This software is the lifeblood of your business. It will enable you to create sales. There are many good software packages out there such as Act!, Top Producer, On Line software, or Goldmine. Each has its own particular strengths and weaknesses. Do your homework and carefully check out each one.
When you purchase software, you must evaluate the training that each one offers. If you cannot get good, solid training, do not buy that software. Some of the value of the software is learning it quickly and efficiently. If you are going to have to self-teach yourself, while you are trying to run your business, you will never fully utilize the software. You must be able to use the full power of the software to be able to bring the most success to your business.
Make sure your software has the power to network. I would advise you not to purchase software that does not network. If you expand your business beyond yourself, you will need the capabilities to network your computers. Also, do not buy software if the manufacturers say they are working on a network version that will be out soon. I had this experience with my primary contact management software. The manufacturer took over 18 months to complete the job. Every time I called them, they said completion was one or two months away. I made the mistake of waiting to switch and lost valuable time and dollars in the process.
The Internet is a way to augment your sales and listings. It will allow you access to more potential clients. There are a few basic needs to reap success out of the Internet. You need to create a quality web site, or you will be relegated to the bush leagues. Next, you need to spend the time and energy to constantly update and adjust your web site. If you have the same content you had months ago, people will stop re-visiting your web site. You want more than a one-time visit from people. You want people who regularly come back to view your properties and information and refer others to your web site.
You want to create the quintessential source of information on real estate in your area, via your web site. Create a section to share a piece of yourself with the visitor. Share your philosophy on selling and your mission statement. Remember that there are 50 bazillion REALTORS® on the World Wide Web. You need to make yourself stand out. Creativity will enable you to be selected and viewed differently than other Agents.
Work with a server company that will constantly help put you in the forefront of the search engine pages. If you are not in the right spot on the web you might as well not be there at all. The web is growing and changing at an alarming rate, so even if you are positioned right this week, in two weeks you might be out of the game because of changes on the web. You need to constantly review the search engines, your web page, and your competitors' web pages.
This techno-revolution is changing many things in real estate, but the one thing that will never change is quality telephone and face-to-face sales skills. If you do not have the sales skills, the technology will only prolong the inevitable, and you will eventually be out of the business. The technology will help good salespeople become better and allow them to do more business. The techno-revolution will not cover up poor sales skills.
Highly skilled salespeople will always have the advantage. If you want to be included among them, the feeding of your mind is the best expenditure of money in your life. Your mind is the most valuable computer you will ever own. We often take the mind for granted because it comes as standard equipment that we do not buy or pay for. Just as we need to upgrade the hardware and software on our computer, we must upgrade our mind and sales skills. Techno-revolutionize your mind by studying the art of selling, the art of time management, and the art of understanding your business. These skills will take you further than all the fancy gadgetry of the 21st century. My biggest fear is that Agents will try to use technology to replace the sales skills. Technology will not replace the skill of selling, it will only enhance the skill. An exceptional salesperson in a dinosaur system can still achieve success in today's world. A poor salesperson in a high tech system is still a poor salesperson. Poor salespeople are always paid at the bottom of the ladder. That fact will never change.
I encourage you to learn the new technology that will enable you to provide greater service to your clients and to do more transactions with less effort. Do not neglect the most valuable computer that occupies the six inches between your ears. If it is well trained, this one can network with anything and anyone at the drop of a hat.
Dirk Zeller is an Agent, an Investor, and the President & CEO of Real Estate Champions. His company trains more than 250,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters. He's the widely published author of Your First Year in Real Estate, Success as a Real Estate Agent for Dummies®, The Champion Real Estate Agent, The Champion Agent Team and over 300 articles in print.
Real Estate Champions is a premier coaching company. Training covers a wide spectrum from new agents, to seasoned, as well as those interested in real estate marketing or real estate investing.
You can get more information by visiting Realtors-Build Your Business, Goal Setting For Realtors, Coaching And Tools For Realtors
Article Source: http://EzineArticles.com/?expert=Dirk_Zeller
In this millennium, contact management and customer service software systems have become more imperative for Agents. Agents will need to have tremendous amounts of information about their clients and potential clients. This information will enable them to become a valuable resource to their clients and, in turn, sell more to their clients. In addition, these Agents will receive more referral business because their service level has increased. In order to join these successful Agents, you will need to be able to keep in contact with your clients quickly, and more frequently, if you hope to create winning sales situations.
I firmly believe, based on the social-economic trends, in the future people will not move so frequently. The average years people spend in one home will increase. There will be fewer moves in people's lifetimes. There are a few factors contributing to this trend. The first is desire of the American people to simplify their lives. In increasing numbers, people are reducing their monthly overhead. There are more single-income families because one of the parents is staying home with the children. This reduction in gross income, caused by the loss of one breadwinner, reduces the discretionary income. Families are making decisions based on the value to the family unit and to the children, especially. They are realizing that living in a big fancy house does not have the same value as having Mom and Dad at home more often. A larger home does not always create a larger, more enjoyable lifestyle. This voluntary downsizing is currently a clear trend in our society.
The second key reason is the largest segment of the population has only one move left. The boomers are now seeking to enter the age of early retirement, while they are still active. The boomers are starting to evaluate where they will move next. They have more selection in the types, and variety, of housing, than all other preceding generations. I think this will be one of the most viable sections of the marketplace. We will see them sell the large family fortress. After that sale they will have many different areas and options of the type of housing they can choose, i.e., condos, townhouses, ranches, retirement communities galore, golf course communities, and 55+ communities. The builders and developers clearly see this group as the fastest-growing segment of the market. They are beginning to gear up for the eventual onslaught.
You need to be prepared to service the boomers by knowing the inventory available and amassing systems to take advantage of the onslaught. Position yourself for the changes today, do not be caught. The new technology will enable you to do more work and research. It will allow you to collect more knowledge and data in a shorter length of time. Not only do you need to have the technology, you need to use it. I regularly see too many Agents resisting change, rather than embracing change. You need to know how to squeeze the most value out of your software. You need to have the software, but you also need to use it. Not using the software is like not having it in the first place.
You must have a command of your contact management software. This software is the lifeblood of your business. It will enable you to create sales. There are many good software packages out there such as Act!, Top Producer, On Line software, or Goldmine. Each has its own particular strengths and weaknesses. Do your homework and carefully check out each one.
When you purchase software, you must evaluate the training that each one offers. If you cannot get good, solid training, do not buy that software. Some of the value of the software is learning it quickly and efficiently. If you are going to have to self-teach yourself, while you are trying to run your business, you will never fully utilize the software. You must be able to use the full power of the software to be able to bring the most success to your business.
Make sure your software has the power to network. I would advise you not to purchase software that does not network. If you expand your business beyond yourself, you will need the capabilities to network your computers. Also, do not buy software if the manufacturers say they are working on a network version that will be out soon. I had this experience with my primary contact management software. The manufacturer took over 18 months to complete the job. Every time I called them, they said completion was one or two months away. I made the mistake of waiting to switch and lost valuable time and dollars in the process.
The Internet is a way to augment your sales and listings. It will allow you access to more potential clients. There are a few basic needs to reap success out of the Internet. You need to create a quality web site, or you will be relegated to the bush leagues. Next, you need to spend the time and energy to constantly update and adjust your web site. If you have the same content you had months ago, people will stop re-visiting your web site. You want more than a one-time visit from people. You want people who regularly come back to view your properties and information and refer others to your web site.
You want to create the quintessential source of information on real estate in your area, via your web site. Create a section to share a piece of yourself with the visitor. Share your philosophy on selling and your mission statement. Remember that there are 50 bazillion REALTORS® on the World Wide Web. You need to make yourself stand out. Creativity will enable you to be selected and viewed differently than other Agents.
Work with a server company that will constantly help put you in the forefront of the search engine pages. If you are not in the right spot on the web you might as well not be there at all. The web is growing and changing at an alarming rate, so even if you are positioned right this week, in two weeks you might be out of the game because of changes on the web. You need to constantly review the search engines, your web page, and your competitors' web pages.
This techno-revolution is changing many things in real estate, but the one thing that will never change is quality telephone and face-to-face sales skills. If you do not have the sales skills, the technology will only prolong the inevitable, and you will eventually be out of the business. The technology will help good salespeople become better and allow them to do more business. The techno-revolution will not cover up poor sales skills.
Highly skilled salespeople will always have the advantage. If you want to be included among them, the feeding of your mind is the best expenditure of money in your life. Your mind is the most valuable computer you will ever own. We often take the mind for granted because it comes as standard equipment that we do not buy or pay for. Just as we need to upgrade the hardware and software on our computer, we must upgrade our mind and sales skills. Techno-revolutionize your mind by studying the art of selling, the art of time management, and the art of understanding your business. These skills will take you further than all the fancy gadgetry of the 21st century. My biggest fear is that Agents will try to use technology to replace the sales skills. Technology will not replace the skill of selling, it will only enhance the skill. An exceptional salesperson in a dinosaur system can still achieve success in today's world. A poor salesperson in a high tech system is still a poor salesperson. Poor salespeople are always paid at the bottom of the ladder. That fact will never change.
I encourage you to learn the new technology that will enable you to provide greater service to your clients and to do more transactions with less effort. Do not neglect the most valuable computer that occupies the six inches between your ears. If it is well trained, this one can network with anything and anyone at the drop of a hat.
Dirk Zeller is an Agent, an Investor, and the President & CEO of Real Estate Champions. His company trains more than 250,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters. He's the widely published author of Your First Year in Real Estate, Success as a Real Estate Agent for Dummies®, The Champion Real Estate Agent, The Champion Agent Team and over 300 articles in print.
Real Estate Champions is a premier coaching company. Training covers a wide spectrum from new agents, to seasoned, as well as those interested in real estate marketing or real estate investing.
You can get more information by visiting Realtors-Build Your Business, Goal Setting For Realtors, Coaching And Tools For Realtors
Article Source: http://EzineArticles.com/?expert=Dirk_Zeller
Miami Beach Realty - How Sellable Is It?
Located along the shores of Biscayne Bay and facing the Atlantic Ocean, the city of Miami Beach has long been famous for being "America's Playground".
Its lovely white-sand beachfronts are world-renowned, as well as the vibrancy and diversity of its people, culture and nightlife. The major selling point in effectively selling Miami Beach realty is its location.
The city has the ever-popular South Beach district, and it is one of the drawing points for the Miami Beach condo market. South Beach was the original 'vacation' area, and it is an area filled with lovely Art Deco hotels and apartment buildings. By having one of the best locations in the country, the Miami Beach real estate market is considered as one of the most prestigious addresses in the US, which makes it a great investment model.
The Condo Market Is Booming
Currently, the biggest news in the Miami Beach real estate market is about the boom in the condominium sector, especially in the pricey, upscale brackets. Condos, both pre-construction and completed units, have seen a 33.3 percent rise in the last decade, and now account for 12.8 percent of the total housing market. This can be credited to the concentration of condos in expensive, upper-class seafront areas like Miami Beach.
In addition, the wealthy aren't the only ones buying up a Miami Beach condo. A larger spectrum of the market is also cashing on it, from dual-income professionals, to retirees and middle-income families. The current affordability of the condominium market is providing motivation for most people to buy condos as a lifestyle choice.
The City Is A Unique Place To Call Home
Great property inventory. Low interest rates, especially for those who need financing, and an assortment of very motivated seller's. The city's current South Beach market is growing at a quick rate, which according to housing analysts, is a wonderful place to invest for the long-term.
With very limited space, an exciting and eclectic nightlife scene, incredible outdoor restaurants, the new Performing Arts Center (PAC) in Downtown Miami, the American Airlines Arena, the Financial District of Brickell and the lovely stretch of world-famous beaches, These are among the many reasons for living in Miami Beach, despite the backdrop of the US housing crunch looming in the horizon.
The local housing market, and the city's local government, have worked in tandem in assisting property developers and buyers in their concerns about the direction of the city's real estate market.
Housing Tax Cuts Ease Pressures On Homeowners
The Miami Beach Government has recently given preliminary approval to the reduction in tax rates for homes. The new tax rate is pegged at $5.897 for every $1,000 of assessed property value. This reduction represents a significant 23 percent drop from this year's rate of $7.67, according to City Manager Jorge Gonzalez.
Under the new tax rates, a homeowner whose house is valued at $295,000, which is the median price in Miami Beach, and taking the standard homestead exemption, will pay $1,636 in taxes. Owners of commercial properties and non-homesteaded properties, however, may not be able to benefit from the tax relief.
Luxury Living Realty - http://luxurylivingrealty.net
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Its lovely white-sand beachfronts are world-renowned, as well as the vibrancy and diversity of its people, culture and nightlife. The major selling point in effectively selling Miami Beach realty is its location.
The city has the ever-popular South Beach district, and it is one of the drawing points for the Miami Beach condo market. South Beach was the original 'vacation' area, and it is an area filled with lovely Art Deco hotels and apartment buildings. By having one of the best locations in the country, the Miami Beach real estate market is considered as one of the most prestigious addresses in the US, which makes it a great investment model.
The Condo Market Is Booming
Currently, the biggest news in the Miami Beach real estate market is about the boom in the condominium sector, especially in the pricey, upscale brackets. Condos, both pre-construction and completed units, have seen a 33.3 percent rise in the last decade, and now account for 12.8 percent of the total housing market. This can be credited to the concentration of condos in expensive, upper-class seafront areas like Miami Beach.
In addition, the wealthy aren't the only ones buying up a Miami Beach condo. A larger spectrum of the market is also cashing on it, from dual-income professionals, to retirees and middle-income families. The current affordability of the condominium market is providing motivation for most people to buy condos as a lifestyle choice.
The City Is A Unique Place To Call Home
Great property inventory. Low interest rates, especially for those who need financing, and an assortment of very motivated seller's. The city's current South Beach market is growing at a quick rate, which according to housing analysts, is a wonderful place to invest for the long-term.
With very limited space, an exciting and eclectic nightlife scene, incredible outdoor restaurants, the new Performing Arts Center (PAC) in Downtown Miami, the American Airlines Arena, the Financial District of Brickell and the lovely stretch of world-famous beaches, These are among the many reasons for living in Miami Beach, despite the backdrop of the US housing crunch looming in the horizon.
The local housing market, and the city's local government, have worked in tandem in assisting property developers and buyers in their concerns about the direction of the city's real estate market.
Housing Tax Cuts Ease Pressures On Homeowners
The Miami Beach Government has recently given preliminary approval to the reduction in tax rates for homes. The new tax rate is pegged at $5.897 for every $1,000 of assessed property value. This reduction represents a significant 23 percent drop from this year's rate of $7.67, according to City Manager Jorge Gonzalez.
Under the new tax rates, a homeowner whose house is valued at $295,000, which is the median price in Miami Beach, and taking the standard homestead exemption, will pay $1,636 in taxes. Owners of commercial properties and non-homesteaded properties, however, may not be able to benefit from the tax relief.
Luxury Living Realty - http://luxurylivingrealty.net
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Third Quarter Real Estate Market Report
Third Quarter Market Report
Challenges, Opportunities, and Surprises, Oh My!
The Avery Group - Roy Wheeler Realty Co.
Someone named Anonymous once said, "Many an opportunity is lost because a man is out looking for four-leaf clovers." That quote seems to sum up the real estate market - buyers seem to be looking for some sort of incredible deal when great opportunity is right in front of them.
The slow pace of sales in the Charlottesville area real estate market is somewhat surprising given the "buyer's market" we are experiencing. Buyers do not need a four-leaf clover to have luck in purchasing a home right now. Sellers, on the other hand, face a significant challenge.
There are some understandable "excuses" as to why buyers are hesitating - over-hyped mortgage crisis, trouble selling their existing house, waiting for the market to "bottom out" - but this market report will show the best time to buy is NOW! Ben Franklin said "time is money" and the longer you wait, the more money you are leaving on the table.
Overview Through the Third Quarter
The current real estate market is much more complex and variable than past years. The defining measure of this market is not the slower pace of sales; rather, the most dominating factor is the record level of homes for sale. As of early October, we have almost 3,500 homes listed "for sale" in the CAAR MLS system - three times the inventory level of three years ago. High inventory levels have kept the prices low, "Days on Market" high, and sellers reaching for Maalox.
Homes Sold
There were 2,875 homes sold in the first nine months of 2007, which was down 647 (-18.4%) from last year. All local areas (Albemarle -17.8%, Charlottesville -25.6%, Fluvanna -21.5%, Greene -34.7%, Louisa -18.5%, and Nelson -21.5%) posted lower sales than the same period last year. Looking at the past 6 years (see chart below), our region has returned to a sales level just above 2003 - which was a record at the time.
New Construction
New to the CAAR market report this year is a look at the number of new homes that were sold through the CAAR MLS system. It is important to note that many "new" homes are not included in this statistic. It is very common for a buyer to contact a builder directly to custom build a home. As a rule, new home statistics tend to lag behind the rest of the market as far as trends are concerned. New home sales peaked in 2006, a year after the overall market. New construction, both locally and nationally, slowed dramatically in mid-2006. If the record traffic of home shoppers at the recent Blue Ridge Home Builders' Parade of Homes is any indication, new homes sales are poised to make a recovery.
Median Sales Price
It may come as a surprise to some that the median price of homes in our area actually increased in the first three months of the year. Remarkably, Charlottesville's median price was up a whopping 17.2%. Before all you city dwellers get excited, there are a few explanations. First, the city had a lot of modestly priced condos sell last year, which lowered the median price. Second, there has been a significant amount of new construction in the city this year with price tags from $300,000 to $500,000. Finally, 25% fewer homes sold this year, which makes the middle of the market (otherwise known as the median price) more susceptible to dramatic change. It would be a mistake to assume that real home prices went up 17% in the city.
Overall, the median price rose $5,100 (+1.9%). Albemarle (-1.8%) and Louisa (-0.8%) were down slightly, but all other areas were up after three quarters. Other area increases were modest - Fluvanna (+4.7%), Greene (+1.9%), Nelson (+3.4%).
Days on Market (DOM)
The high inventory of homes for sale has created a "tale of two cities" for DOM. Homes that have sold this year, sold quickly, but many homes have been on the market much longer than the average. The median DOM for homes that sold through the 3rd quarter is just 59 days. By contrast, the median for homes on the market is 110 days. A third of the homes still on the market have been there for more than 150 days and a quarter of the homes for sale right now have been on the market more than 200 days. There are many reasons for this dichotomy of DOM, but the main reason is probably price. The axiom in the real estate industry is, "Any home will sell quickly if it is priced correctly."
Inventory of Homes for Sale
The inventory of homes for sale in the Charlottesville area has been a key factor in the local market for the past several years. Inventory levels are generally a good indication of where home prices are going. In the early part of the decade, we saw extremely low inventory levels of around 4 or 5 months of supply. This caused home prices to soar, as buyers were forced to make aggressive offers to purchase the home they wanted. Today, we have a 20-month supply of homes on the market, which is very high and possibly a record. We are just entering a quieter selling season with the holidays approaching, so we will likely see a continuation of high inventory into the spring. First-time buyers, who don't have a home to sell, have an extraordinary opportunity in this market.
Currently, we have 3,471 homes on the market and the median price of these homes is $329,000. The average DOM of these homes is 126 days. There are 588 homes for sale under $200,000 with an average DOM of 120. There are 262 homes currently on the market priced at a million dollars or more with an average DOM of 154.
Condos and Townhomes
The explosion of condominiums and townhomes in 2005 and 2006 appears to be over. Most sales of attached homes are in Charlottesville and Albemarle, so this report covers only those areas. The charts below show the attached homes sold in the first nine months of 2007 compared to past years. Inventory levels of attached homes for sale are still high, with 438 listed for sale in Charlottesville and Albemarle. This over-supply is presented in the 151 average DOM for the attached properties currently on the market compared to the 125 days for detached homes in Charlottesville and Albemarle. The median price of an attached home is $259,500, which is much lower than detached homes on the market.
Price Per Square Foot (Finished)
Looking at the average price per square foot of finished space in homes is interesting, but should not be relied on as a scientific number. The averages in this section of the report include the cost of the land, which varies greatly based on location and amenities. A lot at Wintergreen with fantastic views of the valley costs much more than a lot in other parts of Nelson. With that said, the numbers in this section continue to reflect the softening of prices we have seen in 2007.
Nelson County, thanks to the large number of resort properties, has consistently led the way in price per square foot, with Charlottesville generally second. City homes are higher than other areas, simply because they are located more conveniently to U.Va. and downtown. As the saying goes, there are three things that matter in real estate - location, location, and location.
Conclusions and Predictions
The seasonal aspect of the Charlottesville area real estate market allows us to draw year-end conclusions based on the first three quarters. The balance of the year is the "slow" time for sales, so unless there is a dramatic real estate swing, the third quarter will be reflective of the year-end situation. That means we will end the year with the 4th highest year for sales reported to the CAAR MLS. Prices will continue to rise slowly and inventory will continue to be the big story in the market.
Sellers looking for a return to the sales pace of 2005 will be disappointed with my prediction for the future. I do not see inventory levels dropping to reasonable levels for the next 12 months (at least). That means sellers will be challenged by a lot of competition. Sellers will need to listen to the advice of their REALTOR® and price the property competitively. Buyers will continue to have extraordinary opportunities for the foreseeable future. With any luck, we may all be surprised by the strength and resiliency of the local real estate market by the time the spring market hits its stride.
For more information on this report or the real estate market, visit http://www.theaverygroup.com or contact Rob Alley of The Avery Group at (434) 975-9000 or info@theaverygroup.com http://www.robsellscharlottesville.com/
Rob Alley
Roy Wheeler Realty Co. - The Avery Group
http://www.robsellscharlottesville.com
roballey@roywheeler.com
434-975-9000
Article Source: http://EzineArticles.com/?expert=Rob_Alley
Challenges, Opportunities, and Surprises, Oh My!
The Avery Group - Roy Wheeler Realty Co.
Someone named Anonymous once said, "Many an opportunity is lost because a man is out looking for four-leaf clovers." That quote seems to sum up the real estate market - buyers seem to be looking for some sort of incredible deal when great opportunity is right in front of them.
The slow pace of sales in the Charlottesville area real estate market is somewhat surprising given the "buyer's market" we are experiencing. Buyers do not need a four-leaf clover to have luck in purchasing a home right now. Sellers, on the other hand, face a significant challenge.
There are some understandable "excuses" as to why buyers are hesitating - over-hyped mortgage crisis, trouble selling their existing house, waiting for the market to "bottom out" - but this market report will show the best time to buy is NOW! Ben Franklin said "time is money" and the longer you wait, the more money you are leaving on the table.
Overview Through the Third Quarter
The current real estate market is much more complex and variable than past years. The defining measure of this market is not the slower pace of sales; rather, the most dominating factor is the record level of homes for sale. As of early October, we have almost 3,500 homes listed "for sale" in the CAAR MLS system - three times the inventory level of three years ago. High inventory levels have kept the prices low, "Days on Market" high, and sellers reaching for Maalox.
Homes Sold
There were 2,875 homes sold in the first nine months of 2007, which was down 647 (-18.4%) from last year. All local areas (Albemarle -17.8%, Charlottesville -25.6%, Fluvanna -21.5%, Greene -34.7%, Louisa -18.5%, and Nelson -21.5%) posted lower sales than the same period last year. Looking at the past 6 years (see chart below), our region has returned to a sales level just above 2003 - which was a record at the time.
New Construction
New to the CAAR market report this year is a look at the number of new homes that were sold through the CAAR MLS system. It is important to note that many "new" homes are not included in this statistic. It is very common for a buyer to contact a builder directly to custom build a home. As a rule, new home statistics tend to lag behind the rest of the market as far as trends are concerned. New home sales peaked in 2006, a year after the overall market. New construction, both locally and nationally, slowed dramatically in mid-2006. If the record traffic of home shoppers at the recent Blue Ridge Home Builders' Parade of Homes is any indication, new homes sales are poised to make a recovery.
Median Sales Price
It may come as a surprise to some that the median price of homes in our area actually increased in the first three months of the year. Remarkably, Charlottesville's median price was up a whopping 17.2%. Before all you city dwellers get excited, there are a few explanations. First, the city had a lot of modestly priced condos sell last year, which lowered the median price. Second, there has been a significant amount of new construction in the city this year with price tags from $300,000 to $500,000. Finally, 25% fewer homes sold this year, which makes the middle of the market (otherwise known as the median price) more susceptible to dramatic change. It would be a mistake to assume that real home prices went up 17% in the city.
Overall, the median price rose $5,100 (+1.9%). Albemarle (-1.8%) and Louisa (-0.8%) were down slightly, but all other areas were up after three quarters. Other area increases were modest - Fluvanna (+4.7%), Greene (+1.9%), Nelson (+3.4%).
Days on Market (DOM)
The high inventory of homes for sale has created a "tale of two cities" for DOM. Homes that have sold this year, sold quickly, but many homes have been on the market much longer than the average. The median DOM for homes that sold through the 3rd quarter is just 59 days. By contrast, the median for homes on the market is 110 days. A third of the homes still on the market have been there for more than 150 days and a quarter of the homes for sale right now have been on the market more than 200 days. There are many reasons for this dichotomy of DOM, but the main reason is probably price. The axiom in the real estate industry is, "Any home will sell quickly if it is priced correctly."
Inventory of Homes for Sale
The inventory of homes for sale in the Charlottesville area has been a key factor in the local market for the past several years. Inventory levels are generally a good indication of where home prices are going. In the early part of the decade, we saw extremely low inventory levels of around 4 or 5 months of supply. This caused home prices to soar, as buyers were forced to make aggressive offers to purchase the home they wanted. Today, we have a 20-month supply of homes on the market, which is very high and possibly a record. We are just entering a quieter selling season with the holidays approaching, so we will likely see a continuation of high inventory into the spring. First-time buyers, who don't have a home to sell, have an extraordinary opportunity in this market.
Currently, we have 3,471 homes on the market and the median price of these homes is $329,000. The average DOM of these homes is 126 days. There are 588 homes for sale under $200,000 with an average DOM of 120. There are 262 homes currently on the market priced at a million dollars or more with an average DOM of 154.
Condos and Townhomes
The explosion of condominiums and townhomes in 2005 and 2006 appears to be over. Most sales of attached homes are in Charlottesville and Albemarle, so this report covers only those areas. The charts below show the attached homes sold in the first nine months of 2007 compared to past years. Inventory levels of attached homes for sale are still high, with 438 listed for sale in Charlottesville and Albemarle. This over-supply is presented in the 151 average DOM for the attached properties currently on the market compared to the 125 days for detached homes in Charlottesville and Albemarle. The median price of an attached home is $259,500, which is much lower than detached homes on the market.
Price Per Square Foot (Finished)
Looking at the average price per square foot of finished space in homes is interesting, but should not be relied on as a scientific number. The averages in this section of the report include the cost of the land, which varies greatly based on location and amenities. A lot at Wintergreen with fantastic views of the valley costs much more than a lot in other parts of Nelson. With that said, the numbers in this section continue to reflect the softening of prices we have seen in 2007.
Nelson County, thanks to the large number of resort properties, has consistently led the way in price per square foot, with Charlottesville generally second. City homes are higher than other areas, simply because they are located more conveniently to U.Va. and downtown. As the saying goes, there are three things that matter in real estate - location, location, and location.
Conclusions and Predictions
The seasonal aspect of the Charlottesville area real estate market allows us to draw year-end conclusions based on the first three quarters. The balance of the year is the "slow" time for sales, so unless there is a dramatic real estate swing, the third quarter will be reflective of the year-end situation. That means we will end the year with the 4th highest year for sales reported to the CAAR MLS. Prices will continue to rise slowly and inventory will continue to be the big story in the market.
Sellers looking for a return to the sales pace of 2005 will be disappointed with my prediction for the future. I do not see inventory levels dropping to reasonable levels for the next 12 months (at least). That means sellers will be challenged by a lot of competition. Sellers will need to listen to the advice of their REALTOR® and price the property competitively. Buyers will continue to have extraordinary opportunities for the foreseeable future. With any luck, we may all be surprised by the strength and resiliency of the local real estate market by the time the spring market hits its stride.
For more information on this report or the real estate market, visit http://www.theaverygroup.com or contact Rob Alley of The Avery Group at (434) 975-9000 or info@theaverygroup.com http://www.robsellscharlottesville.com/
Rob Alley
Roy Wheeler Realty Co. - The Avery Group
http://www.robsellscharlottesville.com
roballey@roywheeler.com
434-975-9000
Article Source: http://EzineArticles.com/?expert=Rob_Alley
When Realtors or Builders Recommend a Lender
In the next few paragraphs, we will explore new ideas and thoughts that may help you achieve your goal and decide what is best for you.
If your Realtor or draftsman makes a suggestion for a lender, be trusty to gossip to that lender. There are numerous motives they make recommendations.
One motive Realtors and draftsman's make suggestions is because they want to recommend somebody steadfast. Reliability is important to you, so that you don't end up with a horror untruth to tell. Reliability is also important to the trader, the agents, and each tangled in your transaction because is the pact doesn't close, each walks away with nothing.
When agents and draftsman's recommend lenders, they regularly expand a certain quantity of "influence" in pasting with those lenders. This can help in a condition where you must to cut through "red ribbon" and get something done fast.
From what you have read so far, determine if this article has answered any of the questions that you had on this complicated subject.
When selling a new home, pasting with a recommended lender is regularly very important. This is because there are a lot of intricacies tangled in new homes that do not subsist when selling resale. If you "store" around to find your own lender, you may end up with somebody who quotes a great tariff and is great with refinances or resale's, but has no experience with new homes. This can pointer to harms or delays.
Over the last ten times, honestly estate companies and draftsmen have built up their own advance brokerages. "Bundled army" like this make gist because it adds another profit spotlight to the party. This is practical because it helps honestly estate companies to offset advanced commission splits with their agents.
In the early being of "bundled army," the finance executives and wand were regularly sub-par and the eminence of check may not have been so great. Stuff have better while then. However, because this is "captured firm," sometimes these lenders don't have as greatly incentive to proposal you great pacts or lesser tariffs. All you have to do is let them know you are "store ping tariffs" and they will perhaps work near accommodating you as greatly as workable.
Never automatically disqualify a recommended lender, but be trusty to be asking questions about any relationships between the lending party and your draftsman or honestly estate agent's party. That will help you be more heedful on receiving the best hobby tariff and the buck overheads.
Conclusion
Make trusty to do a little store ping for manually. By aware the hobby tariffs of the soak and making trusty your finance executive knows you are looking at tariffs from other institutions, you can use that as force to make trusty you are obtaining the best combination of check and buck tariffs.
We hope that you have found this article interesting and eye catching to say the least. Its objective is to entertain and inform.
Jessy James writes for http://www.mgalenders.com where you can find out more about Lenders and other topics.
Article Source: http://EzineArticles.com/?expert=Jessy_James
If your Realtor or draftsman makes a suggestion for a lender, be trusty to gossip to that lender. There are numerous motives they make recommendations.
One motive Realtors and draftsman's make suggestions is because they want to recommend somebody steadfast. Reliability is important to you, so that you don't end up with a horror untruth to tell. Reliability is also important to the trader, the agents, and each tangled in your transaction because is the pact doesn't close, each walks away with nothing.
When agents and draftsman's recommend lenders, they regularly expand a certain quantity of "influence" in pasting with those lenders. This can help in a condition where you must to cut through "red ribbon" and get something done fast.
From what you have read so far, determine if this article has answered any of the questions that you had on this complicated subject.
When selling a new home, pasting with a recommended lender is regularly very important. This is because there are a lot of intricacies tangled in new homes that do not subsist when selling resale. If you "store" around to find your own lender, you may end up with somebody who quotes a great tariff and is great with refinances or resale's, but has no experience with new homes. This can pointer to harms or delays.
Over the last ten times, honestly estate companies and draftsmen have built up their own advance brokerages. "Bundled army" like this make gist because it adds another profit spotlight to the party. This is practical because it helps honestly estate companies to offset advanced commission splits with their agents.
In the early being of "bundled army," the finance executives and wand were regularly sub-par and the eminence of check may not have been so great. Stuff have better while then. However, because this is "captured firm," sometimes these lenders don't have as greatly incentive to proposal you great pacts or lesser tariffs. All you have to do is let them know you are "store ping tariffs" and they will perhaps work near accommodating you as greatly as workable.
Never automatically disqualify a recommended lender, but be trusty to be asking questions about any relationships between the lending party and your draftsman or honestly estate agent's party. That will help you be more heedful on receiving the best hobby tariff and the buck overheads.
Conclusion
Make trusty to do a little store ping for manually. By aware the hobby tariffs of the soak and making trusty your finance executive knows you are looking at tariffs from other institutions, you can use that as force to make trusty you are obtaining the best combination of check and buck tariffs.
We hope that you have found this article interesting and eye catching to say the least. Its objective is to entertain and inform.
Jessy James writes for http://www.mgalenders.com where you can find out more about Lenders and other topics.
Article Source: http://EzineArticles.com/?expert=Jessy_James
Rent or Buy?
Everyone who intends to move out of the parent's home inevitably ends up asking him/herself an important question: "Should I rent a house or buy it?" The decision doesn't seem obvious, but let us look at the matter more closely.
We all know that renting a home can be very easy and painless, but what if you are not getting the best possible deal? Purchasing your own home has always been a better decision, because the money you spend on it are the money you actually invest into firm real estate assets. There is a popular saying, stating that renting a home is like putting your money into a trash can, while buying a home is like putting your money in a bank. To a certain extent this is surely true: when you eventually move out of a rented home, you remain with nothing to show for it, but when you move out of your own house, the one that you have purchased, you can always sell it and gain back a substantial part of the money you invested into it, adjusting for the markets inflation of course. Basically that's why buying a home is actually a better alternative, however easier the renting option may seem at first glance.
Houses these days cost so much that most people can't afford to pay the whole cost at once. That's why we need mortgages. Mortgages allow us to pay for a house over a period of 15 to 30 years, instead of paying entirely upfront. Now, returning to the choice between renting and buying, think of it this way: no matter whether you rent or buy, it all actually comes down to paying a monthly payment for a house. A monthly mortgage payment can amount to over $1,000. But on the other hand renting a nice house may cost you the same, except for the fact that, if you rent a house, repairs paid for by the landlord. If you take out a mortgage, you have ownership of a house and can sell it when you decide to move out, and if you decide not to move out, then you will have your own home to live in once your mortgage is fully repaid.
Another reason for buying a house is that when you rent a house, you have no guarantee that you will be able to stay in that house for a long period of time. When renting a house, you usually sign year-to-year leases, but at a certain point the landlord may decide not to rent out the house any longer, and will have an unquestionable right to do so. If you have your own house, you never run into this risk.
Finally, you may find it to sound sentimental, but one more big reason to buy a house is memories. Surely, you can have quite nice memories in a rental house as well, but your own home gives you a sense of place - a place for your family to gain and share memories.
Arthur York is a home loan expert working for http://www.NorthAmericanLoans.net To get aid in buying a home of your dreams and finding the right loan to save you thousands of dollars each year, please visit us at http://www.northamericanloans.net
Article Source: http://EzineArticles.com/?expert=Arthur_York
We all know that renting a home can be very easy and painless, but what if you are not getting the best possible deal? Purchasing your own home has always been a better decision, because the money you spend on it are the money you actually invest into firm real estate assets. There is a popular saying, stating that renting a home is like putting your money into a trash can, while buying a home is like putting your money in a bank. To a certain extent this is surely true: when you eventually move out of a rented home, you remain with nothing to show for it, but when you move out of your own house, the one that you have purchased, you can always sell it and gain back a substantial part of the money you invested into it, adjusting for the markets inflation of course. Basically that's why buying a home is actually a better alternative, however easier the renting option may seem at first glance.
Houses these days cost so much that most people can't afford to pay the whole cost at once. That's why we need mortgages. Mortgages allow us to pay for a house over a period of 15 to 30 years, instead of paying entirely upfront. Now, returning to the choice between renting and buying, think of it this way: no matter whether you rent or buy, it all actually comes down to paying a monthly payment for a house. A monthly mortgage payment can amount to over $1,000. But on the other hand renting a nice house may cost you the same, except for the fact that, if you rent a house, repairs paid for by the landlord. If you take out a mortgage, you have ownership of a house and can sell it when you decide to move out, and if you decide not to move out, then you will have your own home to live in once your mortgage is fully repaid.
Another reason for buying a house is that when you rent a house, you have no guarantee that you will be able to stay in that house for a long period of time. When renting a house, you usually sign year-to-year leases, but at a certain point the landlord may decide not to rent out the house any longer, and will have an unquestionable right to do so. If you have your own house, you never run into this risk.
Finally, you may find it to sound sentimental, but one more big reason to buy a house is memories. Surely, you can have quite nice memories in a rental house as well, but your own home gives you a sense of place - a place for your family to gain and share memories.
Arthur York is a home loan expert working for http://www.NorthAmericanLoans.net To get aid in buying a home of your dreams and finding the right loan to save you thousands of dollars each year, please visit us at http://www.northamericanloans.net
Article Source: http://EzineArticles.com/?expert=Arthur_York
Property Prices Decrease For First Time In 2007
House prices have fallen for the first time this year, new figures show.
In research released by Halifax, the typical value of a property decreased by some 0.6 per cent over the course of September, which in turn has seen the annual rate of growth fall to 10.7 per cent for the month - down from the 11.4 per cent recorded during August. As a result, the third quarter of 2007 has witnessed property growth of some 0.9 per cent. This compares to increases of three and 2.3 per cent recorded in the first and second quarters respectively. According to the financial services firm, the average home now costs 198,500 pounds. With such a fall in prices noted, the news could be welcomed by first-time buyers concerned about their ability to make loan repayments upon entering the property sector.
Commenting on the figures, Martin Ellis, chief economist for the financial services firm, said: "September's price fall is consistent with the normal behaviour of the market during a slowdown. A mixed pattern of monthly price rises and falls is a typical feature of a more subdued housing market. The UK economy is in a strong position. Sound market fundamentals, including high levels of employment and a shortage in the number of properties available for sale, will continue to support house prices."
Despite the fall in September house prices, homes in most regions across the country were shown to have risen in value over the course of the third quarter of 2007, with the largest increases noted in the Greater London region and the south-east at 2.3 and 1.8 per cent respectively. On the other hand, Northern Ireland saw a decrease of 3.2 per cent during the same three-month period. However, the region witnessed a year-on-year house prices increase of 47 per cent in the second quarter of this year.
Research from the firm showed that over the last 12 months the number of people in employment has surged by some 132,000 to stand at a record of 29.07 million. Meanwhile, the three-month period leading up until July saw those in work increase by 84,000, compared to the previous three months. Halifax claimed that this, in addition to shortages in new housebuilding and second-hand homes, is set to continue to drive property prices. And with the firm revealing that house prices have "risen strongly" over the last two years, new borrowers have been provided with an "equity cushion", which could prove useful should they want to use their equity to take out a secured loan on their home in the future.
Meanwhile, it was suggested that many homeowners could be set for a rise in financial difficulties within the next few months. As they come off their fixed-rate deals they could witness a rise in mortgage repayments, which in turn could affect their ability to service other demands on their spending, such as utility bills and loans.
The news comes as recent findings by the National Centre for Social Research and the International Longevity Centre show that young homeowners are accruing increasing levels of debt. In 1995, those aged 25 to 34 had a typical mortgage debt of about 50,000 pounds, however this has nearly doubled in the following ten years to stand at 94,000 pounds in 2005, which could impact on money management in other areas such as loans and utility bills. Such consumers are also shown to have an average personal debt of 4,600 pounds owed on credit cards, secured personal loans and other forms of borrowing. As a result, taking out a low-rate loan as a means of consolidation may be an effective way of paying off existing debts quickly.
Mark Dawson writes for Loan-Arrangers where visitors can compare loans online. Then apply for the best secured loans and bad credit loans available.
Article Source: http://EzineArticles.com/?expert=Mark_Dawson
In research released by Halifax, the typical value of a property decreased by some 0.6 per cent over the course of September, which in turn has seen the annual rate of growth fall to 10.7 per cent for the month - down from the 11.4 per cent recorded during August. As a result, the third quarter of 2007 has witnessed property growth of some 0.9 per cent. This compares to increases of three and 2.3 per cent recorded in the first and second quarters respectively. According to the financial services firm, the average home now costs 198,500 pounds. With such a fall in prices noted, the news could be welcomed by first-time buyers concerned about their ability to make loan repayments upon entering the property sector.
Commenting on the figures, Martin Ellis, chief economist for the financial services firm, said: "September's price fall is consistent with the normal behaviour of the market during a slowdown. A mixed pattern of monthly price rises and falls is a typical feature of a more subdued housing market. The UK economy is in a strong position. Sound market fundamentals, including high levels of employment and a shortage in the number of properties available for sale, will continue to support house prices."
Despite the fall in September house prices, homes in most regions across the country were shown to have risen in value over the course of the third quarter of 2007, with the largest increases noted in the Greater London region and the south-east at 2.3 and 1.8 per cent respectively. On the other hand, Northern Ireland saw a decrease of 3.2 per cent during the same three-month period. However, the region witnessed a year-on-year house prices increase of 47 per cent in the second quarter of this year.
Research from the firm showed that over the last 12 months the number of people in employment has surged by some 132,000 to stand at a record of 29.07 million. Meanwhile, the three-month period leading up until July saw those in work increase by 84,000, compared to the previous three months. Halifax claimed that this, in addition to shortages in new housebuilding and second-hand homes, is set to continue to drive property prices. And with the firm revealing that house prices have "risen strongly" over the last two years, new borrowers have been provided with an "equity cushion", which could prove useful should they want to use their equity to take out a secured loan on their home in the future.
Meanwhile, it was suggested that many homeowners could be set for a rise in financial difficulties within the next few months. As they come off their fixed-rate deals they could witness a rise in mortgage repayments, which in turn could affect their ability to service other demands on their spending, such as utility bills and loans.
The news comes as recent findings by the National Centre for Social Research and the International Longevity Centre show that young homeowners are accruing increasing levels of debt. In 1995, those aged 25 to 34 had a typical mortgage debt of about 50,000 pounds, however this has nearly doubled in the following ten years to stand at 94,000 pounds in 2005, which could impact on money management in other areas such as loans and utility bills. Such consumers are also shown to have an average personal debt of 4,600 pounds owed on credit cards, secured personal loans and other forms of borrowing. As a result, taking out a low-rate loan as a means of consolidation may be an effective way of paying off existing debts quickly.
Mark Dawson writes for Loan-Arrangers where visitors can compare loans online. Then apply for the best secured loans and bad credit loans available.
Article Source: http://EzineArticles.com/?expert=Mark_Dawson
Property Law in Thailand
Thailand is becoming an ever more popular retirement and choice of country to live with its low costs and beautiful scenery not forgetting of course the world famous friendliness of the Thais themselves. But finding out about the laws governing property ownership here can be confusing. Here are the bare bones of Thai property Law
• A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.
• A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.
• The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don't have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)
• A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.
• If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.
At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.
Chris Heath is the sole proprietor of Soho Properties a real estate agency located in Bangkok Thailand.
http://www.soho-properties.com
Article Source: http://EzineArticles.com/?expert=Chris_Heath
• A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.
• A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.
• The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don't have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)
• A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.
• If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.
At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.
Chris Heath is the sole proprietor of Soho Properties a real estate agency located in Bangkok Thailand.
http://www.soho-properties.com
Article Source: http://EzineArticles.com/?expert=Chris_Heath
Property Taxes, Hazard Insurance, HOA Fees, and Foreclosure
When homes go into foreclosure, the owners are often far more worried about the mortgage payment than anything else. There are numerous costs involved with owning a house, though, and all of these need to be paid before and during the foreclosure. If they are not paid, and the homeowners are able to stop foreclosure before losing the home, they can quickly find themselves back in the same situation, in danger of being sued again for delinquent property taxes, homeowners association fees, or find themselves owning an uninsured home. Even worse, the lender may impose an escrow account or forced insurance on the property. Thus, it is important for foreclosure victims to keep on top of as many of the payments relating to the house as they can.
The county and city property taxes work slightly differently from the other charges mentioned above, due to their higher priority in the foreclosure proceedings, but they, along with any other liens on the property, will be wiped off after the sheriff sale of the house. When the sheriff sale is conducted, the house will be sold for whatever the highest bid amount is. These proceeds will be used to pay off everything that is affecting the house. First to be paid is any delinquent or currently due property taxes. The county gets paid first if the homeowners do not postpone the sheriff sale or work out a solution to prevent foreclosure.
If the foreclosure victims can not save their house, there may be a possibility of delinquent taxes being added as a lien on the property before the foreclosure. The lender will try to prevent this, as they will want as much of their money as possible without a tax lien, which will include the costs for obtaining the lien, as well as the taxes themselves. However, this possibility depends on how the property tax is being paid, whether through escrow with the mortgage company, or if the homeowners are paying it on their own.
If property taxes are paid through the escrow account, then the lender will pay the property taxes as they come due. Of course, the amounts paid for taxes will be added to the total payoff needed to sell the house or refinance to stop foreclosure, but the taxes will be paid to the county on time. The bank will not let the house go into a property tax foreclosure while they are pursuing their own foreclosure, and this gives them the opportunity to add more interest and charges to the total payoff, as they can stack up more junk fees on a negative escrow balance.
If the homeowners are paying the taxes on their own, though, and they get behind, then the proceeds from the sheriff sale will be used to pay off the property taxes. When the sheriff sale is conducted, the sale price will be used to pay the taxes first, then the mortgage, then any second mortgage and other liens. But the property taxes will be paid, in order to prevent the county from taking possession of the house. The possibility of the county obtaining a lien on the house may be small, but it is usually enough for the bank to impose an escrow account on the homeowners. They simply pay the delinquent taxes and add that amount to the total payoff, along with related charges and interest, which drives up the amount needed to reinstate the loan or avoid foreclosure completely. The homeowners may not even know they are now paying extra every month to keep up a new escrow balance, until they have saved the home and are now making regular payments again -- it is just that the payments may be much higher than they originally were due to the imposed escrow payment.
After the property taxes are paid off through the sheriff sale, the first mortgage will be paid off with as much of the proceeds as are left. If there is not enough to pay the first mortgage completely, then the Homeowners Association (HOA) and other lienholders will simply get nothing.
Now, the HOA could try to sue the homeowners after the foreclosure for the amount of fees that were owed up to the date that they were no longer the owner of the house. It may not be worth the time or effort for them to try to sue and obtain a judgment, though, especially as it is commonly known that most foreclosure victims do not have the extra resources to pay a deficiency judgment and little motivation to work out a payment plan or other arrangements. It is more likely the HOA will simply give up on collecting the fees, as they will not be able to cover the costs of the lawsuit.
Hazard insurance, the last of the costs most commonly associated with the mortgage payment, is usually paid with the mortgage in the escrow or monthly payment. If that is not being paid, or the owners are responsible for paying the insurance on their own, there will be no lien placed on the property for it; the house simply does not have hazard insurance. If anything happens to the house while the insurance is not paid, the insurance will not cover it, obviously. This is another charge that the bank can impose on the property, if they know that the foreclosure victims are not taking care of it. Mortgage companies certainly do not want to loan money on a house that, if it is destroyed, will be a complete loss to them; insurance is most often mandatory for obtaining a loan in the first place.
The longer the foreclosure goes on, the higher costs will climb and the more difficult it will be for homeowners to solve the crisis and prevent foreclosure. Various expenses will still have to be kept on time, including the property taxes, homeowners association fees, and hazard insurance, or else the danger of future foreclosures will be present, or the lender may impose a forced, expensive escrow account to make sure they are paid. Extra liens may be placed on the title, and the homeowners may be sued after foreclosure or find that their insurance has lapsed and will not cover any damages that occur to the property. Thus, homeowners may find that they are fighting foreclosure on numerous fronts at once, but they need to be aware of all of the possibilities of letting their housing payments go into default. Foreclosure is obviously the most pressing concern, but it may be all the little charges that cause them to lose their homes, unless they gain enough foreclosure information to understand the entire process and what is truly at stake.
The ForeclosureFish.com website has been designed to provide homeowners in danger of losing their homes with important information and resources they can use to avoid foreclosure on their own and avoid any potential scams. With hundreds of pages of article, blog entries, and reference materials, foreclosure victims are encouraged to research a comprehensive plan that will allow them to save their homes. Basic explanations are given for every method to fight back against foreclosure, including hard money loans, bank workout programs, loan modification, short sales, and others. Visit the site today to begin learning about foreclosure, and download a free e-book that explains how the process works and how it can be stopped: http://www.foreclosurefish.com/
Article Source: http://EzineArticles.com/?expert=Nick_Adama
The county and city property taxes work slightly differently from the other charges mentioned above, due to their higher priority in the foreclosure proceedings, but they, along with any other liens on the property, will be wiped off after the sheriff sale of the house. When the sheriff sale is conducted, the house will be sold for whatever the highest bid amount is. These proceeds will be used to pay off everything that is affecting the house. First to be paid is any delinquent or currently due property taxes. The county gets paid first if the homeowners do not postpone the sheriff sale or work out a solution to prevent foreclosure.
If the foreclosure victims can not save their house, there may be a possibility of delinquent taxes being added as a lien on the property before the foreclosure. The lender will try to prevent this, as they will want as much of their money as possible without a tax lien, which will include the costs for obtaining the lien, as well as the taxes themselves. However, this possibility depends on how the property tax is being paid, whether through escrow with the mortgage company, or if the homeowners are paying it on their own.
If property taxes are paid through the escrow account, then the lender will pay the property taxes as they come due. Of course, the amounts paid for taxes will be added to the total payoff needed to sell the house or refinance to stop foreclosure, but the taxes will be paid to the county on time. The bank will not let the house go into a property tax foreclosure while they are pursuing their own foreclosure, and this gives them the opportunity to add more interest and charges to the total payoff, as they can stack up more junk fees on a negative escrow balance.
If the homeowners are paying the taxes on their own, though, and they get behind, then the proceeds from the sheriff sale will be used to pay off the property taxes. When the sheriff sale is conducted, the sale price will be used to pay the taxes first, then the mortgage, then any second mortgage and other liens. But the property taxes will be paid, in order to prevent the county from taking possession of the house. The possibility of the county obtaining a lien on the house may be small, but it is usually enough for the bank to impose an escrow account on the homeowners. They simply pay the delinquent taxes and add that amount to the total payoff, along with related charges and interest, which drives up the amount needed to reinstate the loan or avoid foreclosure completely. The homeowners may not even know they are now paying extra every month to keep up a new escrow balance, until they have saved the home and are now making regular payments again -- it is just that the payments may be much higher than they originally were due to the imposed escrow payment.
After the property taxes are paid off through the sheriff sale, the first mortgage will be paid off with as much of the proceeds as are left. If there is not enough to pay the first mortgage completely, then the Homeowners Association (HOA) and other lienholders will simply get nothing.
Now, the HOA could try to sue the homeowners after the foreclosure for the amount of fees that were owed up to the date that they were no longer the owner of the house. It may not be worth the time or effort for them to try to sue and obtain a judgment, though, especially as it is commonly known that most foreclosure victims do not have the extra resources to pay a deficiency judgment and little motivation to work out a payment plan or other arrangements. It is more likely the HOA will simply give up on collecting the fees, as they will not be able to cover the costs of the lawsuit.
Hazard insurance, the last of the costs most commonly associated with the mortgage payment, is usually paid with the mortgage in the escrow or monthly payment. If that is not being paid, or the owners are responsible for paying the insurance on their own, there will be no lien placed on the property for it; the house simply does not have hazard insurance. If anything happens to the house while the insurance is not paid, the insurance will not cover it, obviously. This is another charge that the bank can impose on the property, if they know that the foreclosure victims are not taking care of it. Mortgage companies certainly do not want to loan money on a house that, if it is destroyed, will be a complete loss to them; insurance is most often mandatory for obtaining a loan in the first place.
The longer the foreclosure goes on, the higher costs will climb and the more difficult it will be for homeowners to solve the crisis and prevent foreclosure. Various expenses will still have to be kept on time, including the property taxes, homeowners association fees, and hazard insurance, or else the danger of future foreclosures will be present, or the lender may impose a forced, expensive escrow account to make sure they are paid. Extra liens may be placed on the title, and the homeowners may be sued after foreclosure or find that their insurance has lapsed and will not cover any damages that occur to the property. Thus, homeowners may find that they are fighting foreclosure on numerous fronts at once, but they need to be aware of all of the possibilities of letting their housing payments go into default. Foreclosure is obviously the most pressing concern, but it may be all the little charges that cause them to lose their homes, unless they gain enough foreclosure information to understand the entire process and what is truly at stake.
The ForeclosureFish.com website has been designed to provide homeowners in danger of losing their homes with important information and resources they can use to avoid foreclosure on their own and avoid any potential scams. With hundreds of pages of article, blog entries, and reference materials, foreclosure victims are encouraged to research a comprehensive plan that will allow them to save their homes. Basic explanations are given for every method to fight back against foreclosure, including hard money loans, bank workout programs, loan modification, short sales, and others. Visit the site today to begin learning about foreclosure, and download a free e-book that explains how the process works and how it can be stopped: http://www.foreclosurefish.com/
Article Source: http://EzineArticles.com/?expert=Nick_Adama
Why The Property Market Crisis Won't Affect Romania
If you are just a little interested in economic news you certainly know there is a credit crisis in US affecting the real estate sector as well. This situation acts on the US market and some voices are saying that it will influence the European property market as well.
It may surprise you to read that you can still find good places to invest in real estate properties and still expecting a strong growth for at least 5 to 10 years.
This is the case of emerging markets, and Romania is a very good example.
Why is Romania still a hot spot to invest?
1. Old and outdated house supply. This is the main characteristic of Romania real estate. There was little close to nothing invested in the residential sector in the past decade and a half. 90% of the current properties were built in the former communist regime and are not offering the quality of life the middle class is looking for.
2. Demand for residential properties is coming from the new and dynamic middle class which is profiting from the recent economic revival. They will benefit the most from the EU integration of Romania (first of January 2007).
3. Another thing to consider is that mortgage is still underdeveloped compared to the rest of EU countries or the US.
Interest are pretty high, offering some considerably profit margin for banks, and competition in this sector will only get tougher. More banks from EU countries will try to take advantage from the new EU member country with a 22 mill people population.
Credit conditions are still intended to sustain buyers looking to live in the properties they buy, being quite hard to take credit for pure investment purpose.
The vast majority of potential buyers still don’t qualify for a zero down payment mortgage. They usually have to make a down payment up to 25-30% from the purchase price. These are the main characteristics of Romania property market that are making it different from other EU countries, including other recent members like Estonia or the Czech Republic.
Conclusion: The mortgage credit sector is not overheated and has plenty of room for further development.
http://www.RomaniaPropertyABC.com offers independent informations about Romania Property Market.
Article Source: http://EzineArticles.com/?expert=Cristian_Stoicescu
It may surprise you to read that you can still find good places to invest in real estate properties and still expecting a strong growth for at least 5 to 10 years.
This is the case of emerging markets, and Romania is a very good example.
Why is Romania still a hot spot to invest?
1. Old and outdated house supply. This is the main characteristic of Romania real estate. There was little close to nothing invested in the residential sector in the past decade and a half. 90% of the current properties were built in the former communist regime and are not offering the quality of life the middle class is looking for.
2. Demand for residential properties is coming from the new and dynamic middle class which is profiting from the recent economic revival. They will benefit the most from the EU integration of Romania (first of January 2007).
3. Another thing to consider is that mortgage is still underdeveloped compared to the rest of EU countries or the US.
Interest are pretty high, offering some considerably profit margin for banks, and competition in this sector will only get tougher. More banks from EU countries will try to take advantage from the new EU member country with a 22 mill people population.
Credit conditions are still intended to sustain buyers looking to live in the properties they buy, being quite hard to take credit for pure investment purpose.
The vast majority of potential buyers still don’t qualify for a zero down payment mortgage. They usually have to make a down payment up to 25-30% from the purchase price. These are the main characteristics of Romania property market that are making it different from other EU countries, including other recent members like Estonia or the Czech Republic.
Conclusion: The mortgage credit sector is not overheated and has plenty of room for further development.
http://www.RomaniaPropertyABC.com offers independent informations about Romania Property Market.
Article Source: http://EzineArticles.com/?expert=Cristian_Stoicescu
Mortgages in Dubai and the Big Banks
Dubai real estate has been a consistently hot real estate market for investment property in the past few years. Dubai is the most populated and second largest Emirate in the United Arab Emirates. It has seen enormous construction and has attracted investors worldwide to its real estates projects.
I remember the time when an overseas investor searching for a mortgage would be confronted by puzzled Dubai developers and even more confused estate agents. When an international investor did find a local bank it would be so expensive and time consuming the buyer often gave up. The good news is that the Dubai real estate market is maturing and the big banks have woken up to the fact that Dubai mortgages are potentially very big business.
The early troubles with a Dubai mortgage all stemmed around the difficulties foreign buyers had securing the freehold on a property. Since the announcement on March 12 2006 that non United Arab Emirates nationals may be given the right to own freehold properties in some parts of Dubai, massive interest has been stirred in overseas property investors. Demand is surging and real estate is in short supply many off plan developments sell out in days of release.
Now with laws passed and established zones in Dubai where freehold ownership is not in question the banks are finally acting. The Dubai mortgage market is set to be one of the most competitive markets in the world. The worlds investors are looking at Dubai long and hard. Investors will not tolerate being ripped off with high price mortgages.
Unlike many overseas markets most freehold property in Dubai has not bought with mortgage finance. This gives the market a huge amount of resilience. Many of the mortgage providers in Dubai will only lend to non residents in the Dubai freehold zones.
Properties for sale that are suitable for foreign buyers are in the following freehold zones: Dubai Sports City , Dubai Marina , I.M.P.Z. International Media Production Zone , Jumeirah Village , The Palm Jumeirah, Shaikh Zayed Road, International City, The Lagoons, Palm Deira, Jebel Ali Airport, Emirates Road, Dubai Land ,Business Bay ,Downtown Dubai and much more
So what is attracted international Banks to Dubai that's simple money and plenty of it. Dubai's population is currently in the region of 1.4 million citizens, by 2010 it is expected that Dubai will be home to 3.5 million residents. The Banks anticipate a huge demand for property and in turn a big demand for mortgages. The large multi nationals will be moving in and with them their employees all needing a place to live.
Most of Dubai population is set to be made up from people from overseas. Dubai will be truly multi cultural multi national and that feeling is already in Dubai. Experience Dubai nightlife and you will see it is a truly multi national experience.
The future for the big banks is bright as overseas investors will feel more secure going with mortgage providers that they are familiar with.
In all mortgages in Dubai are good for the banks and are set to be good for overseas buyers investing in the new world attraction which is Dubai.
Nicholas Marr is a lifetime property investor and CEO of Marr International Ltd a UK based property marketing company that has offices in Dubai he is responsible for one of the worlds leading overseas property web sites at http://www.homesgofast.com/dubai/Dubai_mortgages.php
Article Source: http://EzineArticles.com/?expert=Nicholas_Marr
I remember the time when an overseas investor searching for a mortgage would be confronted by puzzled Dubai developers and even more confused estate agents. When an international investor did find a local bank it would be so expensive and time consuming the buyer often gave up. The good news is that the Dubai real estate market is maturing and the big banks have woken up to the fact that Dubai mortgages are potentially very big business.
The early troubles with a Dubai mortgage all stemmed around the difficulties foreign buyers had securing the freehold on a property. Since the announcement on March 12 2006 that non United Arab Emirates nationals may be given the right to own freehold properties in some parts of Dubai, massive interest has been stirred in overseas property investors. Demand is surging and real estate is in short supply many off plan developments sell out in days of release.
Now with laws passed and established zones in Dubai where freehold ownership is not in question the banks are finally acting. The Dubai mortgage market is set to be one of the most competitive markets in the world. The worlds investors are looking at Dubai long and hard. Investors will not tolerate being ripped off with high price mortgages.
Unlike many overseas markets most freehold property in Dubai has not bought with mortgage finance. This gives the market a huge amount of resilience. Many of the mortgage providers in Dubai will only lend to non residents in the Dubai freehold zones.
Properties for sale that are suitable for foreign buyers are in the following freehold zones: Dubai Sports City , Dubai Marina , I.M.P.Z. International Media Production Zone , Jumeirah Village , The Palm Jumeirah, Shaikh Zayed Road, International City, The Lagoons, Palm Deira, Jebel Ali Airport, Emirates Road, Dubai Land ,Business Bay ,Downtown Dubai and much more
So what is attracted international Banks to Dubai that's simple money and plenty of it. Dubai's population is currently in the region of 1.4 million citizens, by 2010 it is expected that Dubai will be home to 3.5 million residents. The Banks anticipate a huge demand for property and in turn a big demand for mortgages. The large multi nationals will be moving in and with them their employees all needing a place to live.
Most of Dubai population is set to be made up from people from overseas. Dubai will be truly multi cultural multi national and that feeling is already in Dubai. Experience Dubai nightlife and you will see it is a truly multi national experience.
The future for the big banks is bright as overseas investors will feel more secure going with mortgage providers that they are familiar with.
In all mortgages in Dubai are good for the banks and are set to be good for overseas buyers investing in the new world attraction which is Dubai.
Nicholas Marr is a lifetime property investor and CEO of Marr International Ltd a UK based property marketing company that has offices in Dubai he is responsible for one of the worlds leading overseas property web sites at http://www.homesgofast.com/dubai/Dubai_mortgages.php
Article Source: http://EzineArticles.com/?expert=Nicholas_Marr
How To Stage A House For The Market
Faster Sale More Profit Stage It.
Staging is the process of getting a house ready to sell.
It is an important step; it is almost as important as pricing. Many For Sale by Owners make a mistake; they just put a sign in the yard and hope for a buyer. When you sell by owner, it takes careful preparation and planning. In this article I'll show you how to stage the house for the market so you sell faster and make more money.
The overall condition and appearance of a house is important in determining how fast it will sell and how much the buyer will pay.
Curb appeal is make or break.
Many buyers won't view a house that doesn't have curb appeal. Others are unable to look beyond your belongings once they're in the house.
Buyers start making buying decisions at the curb. If a house doesn't have curb appeal, you've lost a buyer.
You Never Get A Second Chance To Make A First Impression.
Buyers have built in discount clocks that start ticking at the curb.
They look for ways to reject your house and ways to discount your price. The buyer's discount clock is always ticking.
Tic, Tic, Tic . . .
• Is the driveway clear and clean?
• Is the side walk free from clutter?
• Is the lawn mowed and edged?
• Is the house inviting?
• Is the sidewalk clean and clear?
Tic, Tic, Tic . . .
• Is the mailbox painted?
• Are box numbers easy to read?
• Are house numbers easy to read?
• Would colorful floors at the front door add appeal?
• Is the front door clean, new or newly painted?
• Is the entry porch clean and clear of stuff?
Does it sound like a pain, tending to all the details?
You do want top dollar don't you?
Once inside the house ask yourself:
• Is the entry inviting?
• Is it well lit? Consider using full spectrum lighting.
• Is it clean and free of clutter?
• Would mirrors make the space seem larger?
You have to detach from the house.
The house is a property, not your "home." Refer to it as a house, not your home. You are preparing the house, not your home, for the market. Make the distinction, it will help you stage the house. Is the buyer mentally moving in?
It's imperative that a buyer sees himself/herself as living in the house. If they like the house, they'll mentally move in.
You want the buyer to start thinking of it as their home.
You have to get rid of family portraits that line the stairs and halls. Too many personal memories can actually make the buyer feel guilty about taking you away from your home. Memory lanes are psychological turn offs for the buyer. You don't want distractions.
You plan to move after you sell right?
• Start packing before you put the house on the market.
• Box up nicknacks, photos and stuff.
• Thin out.
• Box it.
• Store it.
• Have a garage sale.
• Streamline.
• Less clutter creates a sense of space.
• Less stuff makes a house inviting.
Come on, you can do it.
Consider storing or selling some of your furniture. Create wide walking spaces. Recliners and sofas, are great for living, but terrible for showing. Clear walking areas. Make the rooms appear larger.
Visit model homes. Notice how sparsely they're furnished. This creates a sense of spaciousness. Go home and start weeding out your excess furniture and clutter.
Lots of lights.
Be sure there are working bulbs in all light fixtures. Consider full spectrum lighting as it gives a nice natural light without starkness. Turn on lights for showings.
Clear counters:
Goodbye toasters and kitchen appliances. Make the kitchen sparkle. Clean stove, broiler and oven. Clean the back splash. Buyers notice.
Bathrooms must sparkle:
• No wet towels.
• No toilet articles left out.
• Clean mirrors and shower doors.
Bedrooms:
• Beds made.
• Neat closets.
• Pick up clothes.
• Pack most of your clothes.
• Remove excess furniture.
• Create a sense of roominess.
If buyers are thinking move in, help them.
Open blinds and drapes and put a bouquet of cheery flowers on the table.
The garage counts too:
Clean the garage floor. Grease spots are a turn off. Get rid of tools. Pack, hang or store them.
Would you buy this house? in its present condition, for the price you're asking?
If your answer is not a resounding YES; then reconsider your price or improve conditions.
Consider hiring a professional decorator.
The Final List
• All Guns and jewelry put in a safe deposit box.
• Put away dog and children's toys.
• Professionally clean all windows.
• Fresh paint pays for itself.
• Heat cinnamon in the oven - not necessary but nice.
• Dresser drawers orderly.
• Music - I vote no, buyers may hate your selection.
In summary you'll want to:
• Create Openness try to make the house bright and cheery.
• Create spacious walking areas. Make everything shine.
• Approximate the look of a model home.
• Make a guest book.
• Make a flyer.
Good Luck Selling Your House.
Copyright (c) 2007 Wee Dilts
Wee Dilts created the original for sale by owner flat fee MLS program, authored the best selling “How to Sell Real Estate by Owner” book, and has assisted FSBOS since 1983. Colorado For Sale by Owners can register for MLS, purchase her book, or download Free FSBO tips at http://www.fsbofriend.com Have a FSBO questions? Send it to fsbofriend@msn.com
Article Source: http://EzineArticles.com/?expert=Wee_Dilts
Staging is the process of getting a house ready to sell.
It is an important step; it is almost as important as pricing. Many For Sale by Owners make a mistake; they just put a sign in the yard and hope for a buyer. When you sell by owner, it takes careful preparation and planning. In this article I'll show you how to stage the house for the market so you sell faster and make more money.
The overall condition and appearance of a house is important in determining how fast it will sell and how much the buyer will pay.
Curb appeal is make or break.
Many buyers won't view a house that doesn't have curb appeal. Others are unable to look beyond your belongings once they're in the house.
Buyers start making buying decisions at the curb. If a house doesn't have curb appeal, you've lost a buyer.
You Never Get A Second Chance To Make A First Impression.
Buyers have built in discount clocks that start ticking at the curb.
They look for ways to reject your house and ways to discount your price. The buyer's discount clock is always ticking.
Tic, Tic, Tic . . .
• Is the driveway clear and clean?
• Is the side walk free from clutter?
• Is the lawn mowed and edged?
• Is the house inviting?
• Is the sidewalk clean and clear?
Tic, Tic, Tic . . .
• Is the mailbox painted?
• Are box numbers easy to read?
• Are house numbers easy to read?
• Would colorful floors at the front door add appeal?
• Is the front door clean, new or newly painted?
• Is the entry porch clean and clear of stuff?
Does it sound like a pain, tending to all the details?
You do want top dollar don't you?
Once inside the house ask yourself:
• Is the entry inviting?
• Is it well lit? Consider using full spectrum lighting.
• Is it clean and free of clutter?
• Would mirrors make the space seem larger?
You have to detach from the house.
The house is a property, not your "home." Refer to it as a house, not your home. You are preparing the house, not your home, for the market. Make the distinction, it will help you stage the house. Is the buyer mentally moving in?
It's imperative that a buyer sees himself/herself as living in the house. If they like the house, they'll mentally move in.
You want the buyer to start thinking of it as their home.
You have to get rid of family portraits that line the stairs and halls. Too many personal memories can actually make the buyer feel guilty about taking you away from your home. Memory lanes are psychological turn offs for the buyer. You don't want distractions.
You plan to move after you sell right?
• Start packing before you put the house on the market.
• Box up nicknacks, photos and stuff.
• Thin out.
• Box it.
• Store it.
• Have a garage sale.
• Streamline.
• Less clutter creates a sense of space.
• Less stuff makes a house inviting.
Come on, you can do it.
Consider storing or selling some of your furniture. Create wide walking spaces. Recliners and sofas, are great for living, but terrible for showing. Clear walking areas. Make the rooms appear larger.
Visit model homes. Notice how sparsely they're furnished. This creates a sense of spaciousness. Go home and start weeding out your excess furniture and clutter.
Lots of lights.
Be sure there are working bulbs in all light fixtures. Consider full spectrum lighting as it gives a nice natural light without starkness. Turn on lights for showings.
Clear counters:
Goodbye toasters and kitchen appliances. Make the kitchen sparkle. Clean stove, broiler and oven. Clean the back splash. Buyers notice.
Bathrooms must sparkle:
• No wet towels.
• No toilet articles left out.
• Clean mirrors and shower doors.
Bedrooms:
• Beds made.
• Neat closets.
• Pick up clothes.
• Pack most of your clothes.
• Remove excess furniture.
• Create a sense of roominess.
If buyers are thinking move in, help them.
Open blinds and drapes and put a bouquet of cheery flowers on the table.
The garage counts too:
Clean the garage floor. Grease spots are a turn off. Get rid of tools. Pack, hang or store them.
Would you buy this house? in its present condition, for the price you're asking?
If your answer is not a resounding YES; then reconsider your price or improve conditions.
Consider hiring a professional decorator.
The Final List
• All Guns and jewelry put in a safe deposit box.
• Put away dog and children's toys.
• Professionally clean all windows.
• Fresh paint pays for itself.
• Heat cinnamon in the oven - not necessary but nice.
• Dresser drawers orderly.
• Music - I vote no, buyers may hate your selection.
In summary you'll want to:
• Create Openness try to make the house bright and cheery.
• Create spacious walking areas. Make everything shine.
• Approximate the look of a model home.
• Make a guest book.
• Make a flyer.
Good Luck Selling Your House.
Copyright (c) 2007 Wee Dilts
Wee Dilts created the original for sale by owner flat fee MLS program, authored the best selling “How to Sell Real Estate by Owner” book, and has assisted FSBOS since 1983. Colorado For Sale by Owners can register for MLS, purchase her book, or download Free FSBO tips at http://www.fsbofriend.com Have a FSBO questions? Send it to fsbofriend@msn.com
Article Source: http://EzineArticles.com/?expert=Wee_Dilts
Buy Property In Turkey With Confidence
Turkey's popularity as an overseas property hotspot is very apparent as 2007 sees a flurry of activity from overseas property buyers looking for the best deal in Turkey. It is no wonder property investors who secure the right property in the right location are set for good capital appreciation.
Timing is important and buyers of Turkish property should be prepared to hold onto their new purchase for at least 5 years .The big bonus for international real estate investors and second home buyers is that a property held for 4 years attracts no capital gains tax.
To truly benefit from Turkish property as an investment it is advisable to purchase Turkish property constructed after 1999. Owning a home in Turkey constructed after this date means that you are secure in the knowledge that it complies wirth earth quake proofing laws. Something your buyer will be looking out for when you come to sell.
It is essential that you use a lawyer when buying property in Turkey no matter how attractive a deal is or appears to be. You should never feel under pressure to make a purchase and always be prepared to walk away from a purchase. Foreign buyers attracted to under the table deals make themselves vulnerable to a rip off. It is sometimes not appreciated by foreign buyers that debts that a property has are passed onto the new owner when the title deeds are transferred. Imagine how you would feel acquiring the previous owner's debts and being legally responsible for them!
You may wish to consider using International Developers Information Packs or IDIP when buying off plan / pre constriction property in Turkey. IDIP conduct legal checks on a property developer and the development and can reveal the legal status of the company , financial records and details about the development. IDIPs are being used by investors to help them make decisions to purchase and will help avoid investors becoming victims of unscrupulous developers. .
My essential tips when buying Turkish property include:
1.) Buy in the right area non nationals are not allowed to buy property in areas assigned by the state as military or strategic zones. However you may have unscrupulous agents trying to sell you a home that you cannot buy.
2.) Open a Turkish bank account to buy the property pay bills etc. It is a good idea to seek a currency specialist when transferring money abroad on a regular basis. You will not have to be at the mercy of fluctuating exchange rates and will know in advance what you money is actually worth when you transfer it.
3.) Have your money ready you will need a 10% deposit on hand to secure your dream home. Be aware that once this has been accepted you will lose your deposit if you decide to pull out of the deal.
4. When hiring a lawyer to buy a property in Turkey it is important to know exactly what you are signing and translated documents are the best way forward
Article Source: http://EzineArticles.com/?expert=Nicholas_Marr
Timing is important and buyers of Turkish property should be prepared to hold onto their new purchase for at least 5 years .The big bonus for international real estate investors and second home buyers is that a property held for 4 years attracts no capital gains tax.
To truly benefit from Turkish property as an investment it is advisable to purchase Turkish property constructed after 1999. Owning a home in Turkey constructed after this date means that you are secure in the knowledge that it complies wirth earth quake proofing laws. Something your buyer will be looking out for when you come to sell.
It is essential that you use a lawyer when buying property in Turkey no matter how attractive a deal is or appears to be. You should never feel under pressure to make a purchase and always be prepared to walk away from a purchase. Foreign buyers attracted to under the table deals make themselves vulnerable to a rip off. It is sometimes not appreciated by foreign buyers that debts that a property has are passed onto the new owner when the title deeds are transferred. Imagine how you would feel acquiring the previous owner's debts and being legally responsible for them!
You may wish to consider using International Developers Information Packs or IDIP when buying off plan / pre constriction property in Turkey. IDIP conduct legal checks on a property developer and the development and can reveal the legal status of the company , financial records and details about the development. IDIPs are being used by investors to help them make decisions to purchase and will help avoid investors becoming victims of unscrupulous developers. .
My essential tips when buying Turkish property include:
1.) Buy in the right area non nationals are not allowed to buy property in areas assigned by the state as military or strategic zones. However you may have unscrupulous agents trying to sell you a home that you cannot buy.
2.) Open a Turkish bank account to buy the property pay bills etc. It is a good idea to seek a currency specialist when transferring money abroad on a regular basis. You will not have to be at the mercy of fluctuating exchange rates and will know in advance what you money is actually worth when you transfer it.
3.) Have your money ready you will need a 10% deposit on hand to secure your dream home. Be aware that once this has been accepted you will lose your deposit if you decide to pull out of the deal.
4. When hiring a lawyer to buy a property in Turkey it is important to know exactly what you are signing and translated documents are the best way forward
Article Source: http://EzineArticles.com/?expert=Nicholas_Marr
Saturday, October 20, 2007
How To Become A Real Estate Agent
A lot of people consider changing to a career in real estate, but don't know explicitly how to become a real estate agent. There are three initial steps, two of which you must take, if seriously considering changing your career to this fruitful occupation.
The first step that everyone must take towards becoming a real estate agent is to attend a state approved real estate agent school or course. You can't become a real estate agent without doing this. It is required to take your real estate exam. The class or classes will cost money, but you may be able to get sponsored by a local Realtor if you express interest towards working for them.
The second required step to take before you can become a real estate agent is taking your licensing exam. You can take the exam as many times as you need, but once should be enough as long as you come prepared. Speaking to a rookie real estate agent about the exam can help, as it will be fresh in their minds. The key to taking any exam is to focus on the material that the exam will cover. Don't spend a bunch of time studying extra material.
After becoming licensed, you may still be wondering how to become a real estate agent. You will have the piece of paper that says you're a real estate agent, but you won't have any experience. Step three is to get a mentor. Having a mentor is a great way to gain experience quickly, while having someone help keep you from making major mistakes in your new career. You should be able to find someone who is willing to mentor you right at the Realtor that you associate with. You may also be able to find one at your local real estate agent's association.
If you have trouble finding a mentor, don't get discouraged. Some agents will view you as competition and won't be willing to help you out, but others will be glad to help a new agent. Keep at it and you will eventually find a helpful mentor.
Once you take your training courses and pass your licensing exam, a mentor is the best third step towards answering the question "how to become a real estate agent?".
Mike has more tips on becoming a real estate agent at his blog How To Become a Real Estate Agent
Article Source: http://EzineArticles.com/?expert=Mike_W.
The first step that everyone must take towards becoming a real estate agent is to attend a state approved real estate agent school or course. You can't become a real estate agent without doing this. It is required to take your real estate exam. The class or classes will cost money, but you may be able to get sponsored by a local Realtor if you express interest towards working for them.
The second required step to take before you can become a real estate agent is taking your licensing exam. You can take the exam as many times as you need, but once should be enough as long as you come prepared. Speaking to a rookie real estate agent about the exam can help, as it will be fresh in their minds. The key to taking any exam is to focus on the material that the exam will cover. Don't spend a bunch of time studying extra material.
After becoming licensed, you may still be wondering how to become a real estate agent. You will have the piece of paper that says you're a real estate agent, but you won't have any experience. Step three is to get a mentor. Having a mentor is a great way to gain experience quickly, while having someone help keep you from making major mistakes in your new career. You should be able to find someone who is willing to mentor you right at the Realtor that you associate with. You may also be able to find one at your local real estate agent's association.
If you have trouble finding a mentor, don't get discouraged. Some agents will view you as competition and won't be willing to help you out, but others will be glad to help a new agent. Keep at it and you will eventually find a helpful mentor.
Once you take your training courses and pass your licensing exam, a mentor is the best third step towards answering the question "how to become a real estate agent?".
Mike has more tips on becoming a real estate agent at his blog How To Become a Real Estate Agent
Article Source: http://EzineArticles.com/?expert=Mike_W.
Real Estate Marketing - How To Get A Flood Of Referrals
You should always have multiple ways to attract new clients into your business. Your real estate marketing program should consist of as many methods as you can use to get clients rather than relying on one. One of the ways many real estate agents depend on is referrals.
Referrals are a great way to get business, yet there is a downside to it. While a referral is usually an easy person to do business with because they come based on a recommendation, you can't really control how many you get or when you get them. But there are some things to do to be assured that you are recommended if the need arises.
Let's look at the two types of referrals. One is incentive based and the other is inspired. In real estate marketing, you have to be careful with incentive types of referrals. This is where you are offering someone something in return for the referral. In other industries it may be a finder's fee but you can't do that in real estate. You may be able to offer a dinner to someone or something like that, but you really need to be very careful you are not in violation of RESPA.
But inspired referral is much more applicable to real estate marketing. For one thing, you don't have to be concerned with being in violation of anything. But the more important reason is that an inspired referral is one that comes sincerely from someone who thinks you do great job and are glad to recommend you. They are inspired by the service you gave them and this is the best kind of referral you can get.
So how can you get these? You must always be the best you can be when dealing with clients. Make sure you do what you say you are going to do. Many real estate agents make big promises but then fall short on delivering on those promises. The way to be sure you inspire clients to refer you is to under promise and over deliver. When you don't meet expectations, you will disappointment your client and they will be reluctant that they chose you, let alone refer you to anyone.
When you exceed the expectations of your client by always going above and beyond when you have told them what you would do, therefore what they expect from you, you will not only make them a happy client, but they will surely feel confident in referring you to others when they have the opportunity to do so.
To learn more about real estate marketing that works, get your copy my FREE eBook, "How To Double Your Real Estate Income In the Next 6-12 Months, No Matter What The Current Market Is Doing!"
Download it free here: Free Real Estate Marketing eBook
Vince Testa is a full time marketing coach and consultant with over 30 years experience in marketing, real estate, and business.
Your questions and comments are welcome at My Real Estate Marketing Blog
Article Source: http://EzineArticles.com/?expert=Vince_Testa
Referrals are a great way to get business, yet there is a downside to it. While a referral is usually an easy person to do business with because they come based on a recommendation, you can't really control how many you get or when you get them. But there are some things to do to be assured that you are recommended if the need arises.
Let's look at the two types of referrals. One is incentive based and the other is inspired. In real estate marketing, you have to be careful with incentive types of referrals. This is where you are offering someone something in return for the referral. In other industries it may be a finder's fee but you can't do that in real estate. You may be able to offer a dinner to someone or something like that, but you really need to be very careful you are not in violation of RESPA.
But inspired referral is much more applicable to real estate marketing. For one thing, you don't have to be concerned with being in violation of anything. But the more important reason is that an inspired referral is one that comes sincerely from someone who thinks you do great job and are glad to recommend you. They are inspired by the service you gave them and this is the best kind of referral you can get.
So how can you get these? You must always be the best you can be when dealing with clients. Make sure you do what you say you are going to do. Many real estate agents make big promises but then fall short on delivering on those promises. The way to be sure you inspire clients to refer you is to under promise and over deliver. When you don't meet expectations, you will disappointment your client and they will be reluctant that they chose you, let alone refer you to anyone.
When you exceed the expectations of your client by always going above and beyond when you have told them what you would do, therefore what they expect from you, you will not only make them a happy client, but they will surely feel confident in referring you to others when they have the opportunity to do so.
To learn more about real estate marketing that works, get your copy my FREE eBook, "How To Double Your Real Estate Income In the Next 6-12 Months, No Matter What The Current Market Is Doing!"
Download it free here: Free Real Estate Marketing eBook
Vince Testa is a full time marketing coach and consultant with over 30 years experience in marketing, real estate, and business.
Your questions and comments are welcome at My Real Estate Marketing Blog
Article Source: http://EzineArticles.com/?expert=Vince_Testa
5 Reasons Realtors Should Use Internet Marketing To Grow Their Business
Realtors work will over 3500 hours per year. In fact, many of them have not taken a real vacation in several years for fear of missing the next deal. Most Real Estate Professionals are not able to enjoy the fruits of their labor. Simply put, they stop, their income stops. Therefore, learning the techniques of marketing on the internet could prove to be extremely beneficial. Allowing them to become and stay full-time Realtors.
Many Realtors are duel professionals that would love to change their status to full-time Realtors. Some are full-time professionals but with a part-time JOB to compensate for the slow market sales. Others have retreated to the corporate world putting their license in the inactive status in order to support their family. Many Realtors are back in school to retrain in another field. Some are selling their investment properties to stay a float during this slow shift in the market. In addition, the Real Estate Professionals that are producing sales, with out the support of a team, are the ones being hit the hardest by this slow market.
To give you a picture of a Realtors day the following is a typical day for the one who has not leveraged.
• 8:00 AM in the office to make a few contacts before the 10:00 AM appointment
• 10:15 AM the client is running behind because something came up at work
• 11:00 AM client arrives this is a new purchaser must do a Buyer Presentation
• 1:00 PM new purchaser presentation is over
• 1-2:00 PM take a lunch and bathroom break
• 2-3:00 PM check emails and return calls
• 3-4:00 PM find homes and schedule showings for 5:00 appointment
• 4:15-4:50 PM drive time to meet client at first showing
• 5-9:00 PM show homes no find the client did not find a home
• 9:45 PM you are home and start all over the next day.
Because of a schedule like the one above, Realtors need to leverage their income. Open their minds to other opportunities in order to have multiple streams of income. Leverage is missing for the average Realtor. Neither their business nor their income is leverage. Leverage is people who are making you money and/or money making you money.
Look at it this way, if a Realtor were in an unforeseen accident, would their income continue to grow at the same pace? Let me answer that question, NO! It would not, because the average Realtor owns a job not a business. Although you control your schedule, do you truly control the business or does it control you? If you do all or most of the following, you are a glorified employee:
The marketing
The listings
The showing
The scheduling
The presentations
The contracts
The open houses and so forth
Therefore, learning to market you business online can produce new clients and customers. This can lower your marketing, presentation and open house time. How you ask? Your clients and customers are sending you referrals. They are marketing and presenting you for you to their friends and family. You are by now asking, how do you know this?
I am Realtor and after nearly 2 decades of marketing real estate, I retired my license. I am making more money marketing different products and services online and with out all the driving, making appointments, writing contracts, negotiating and so forth and so on.
Within the last few months, my database has grown from 5,000 contacts to close to 165,000 contacts. My database is increasing, by nearly 40,000 new contacts a month, just from marketing things on the internet.
Imagine building a database of customers that are buying from you and clients that you can market to that will send you referrals that are in the market to buy or sell a home.
Picture this, simply by marketing a product or service online you build a database of long time clients and customers, who refer to you their friends and family that are in the market to sell or buy a home or anything else for that matter. Simply by sending people to a website were they can purchase things, research things, read things and discover things etc…
Here is a list of things I do and so can you send people to your websites:
1. Affiliate marketing
2. Ad/Web Copy
3. My Space/You tube
4. Blogs
5. Teleseminars
6. Articles
7. Resellers
8. PLR
9. Capture Pages
10. Auctions and so much more
The average professionals income is produced one sale at a time, yet their expenses grow daily. Internet marketing is different. By using internet marketing, you can reposition yourself after attending a 1 to 3 day course to learn how to create and market products that will produce for you income and clients.
Just follow the steps below and you can begin to experience the same results or better. I like better.
• Make the commitment to your future and fortunes.
• Attend an internet marketing training course as soon as possible.
• Get started immediately.
1. You do not know what to do first just contact me by phone or email.
2. Internet marketing is a different but in the end it is worth it.
3. Make a plan to designate 1 hour per day to develop you.
4. Ask me for a copy of the internet marketing wealth formula, developed by Dwayne Golden founder of the Internet Boot Camp I attended.
5. Married or not, have children or not do the following
a. Include your spouse and children or significant other
b. Be a sponge meaning be coach and teachable
c. Set a specific financial goal to start of each month and review at the end of the month
d. Be one of the people selected to attend the Dwayne Golden Internet Marketing Boot Camp FREE, this is a $3,500.00 dollar course.
Contact me by email or phone to receive your copy of the Internet Marketing Formula. Do not forget to ask about the Dwayne Golden Internet Boot Camp Course. The next Internet Marketing Course is on October 26 and 27, 2007 and people from all over the country have enrolled.
Robin D Haywood in February of 2006, ventured into her first Network Marketing Company and reaching the top paying level in less than a month. In August she made the decision to retire from Real Estate which had been apart of her life since l989.
Now she and her husband Ken are Internet Marketers and Business Coaches for the Married Folk. After attending the Dwayne Golden Internet Boot Camp, a $3500.00 course Ken will retire from his 6-figure government job. Get more information on the next Dwayne Golden Internet Boot Camp coming on October 26 and 27 to anyone that calls or emails them. RK Haywood Enterprises Incorporated (RKHEI) formed in 1996 and soon will be focusing on a troubled youth program, a coaching and training program for veterans returning the war.
Yours in prosperity and success,
Robin D Haywood, CEO301-335-1609ceo@rkhei.comhttp://www.rkhei.comhttp://www.haywoodtravel.net
Article Source: http://EzineArticles.com/?expert=Robin_D_Haywood
Many Realtors are duel professionals that would love to change their status to full-time Realtors. Some are full-time professionals but with a part-time JOB to compensate for the slow market sales. Others have retreated to the corporate world putting their license in the inactive status in order to support their family. Many Realtors are back in school to retrain in another field. Some are selling their investment properties to stay a float during this slow shift in the market. In addition, the Real Estate Professionals that are producing sales, with out the support of a team, are the ones being hit the hardest by this slow market.
To give you a picture of a Realtors day the following is a typical day for the one who has not leveraged.
• 8:00 AM in the office to make a few contacts before the 10:00 AM appointment
• 10:15 AM the client is running behind because something came up at work
• 11:00 AM client arrives this is a new purchaser must do a Buyer Presentation
• 1:00 PM new purchaser presentation is over
• 1-2:00 PM take a lunch and bathroom break
• 2-3:00 PM check emails and return calls
• 3-4:00 PM find homes and schedule showings for 5:00 appointment
• 4:15-4:50 PM drive time to meet client at first showing
• 5-9:00 PM show homes no find the client did not find a home
• 9:45 PM you are home and start all over the next day.
Because of a schedule like the one above, Realtors need to leverage their income. Open their minds to other opportunities in order to have multiple streams of income. Leverage is missing for the average Realtor. Neither their business nor their income is leverage. Leverage is people who are making you money and/or money making you money.
Look at it this way, if a Realtor were in an unforeseen accident, would their income continue to grow at the same pace? Let me answer that question, NO! It would not, because the average Realtor owns a job not a business. Although you control your schedule, do you truly control the business or does it control you? If you do all or most of the following, you are a glorified employee:
The marketing
The listings
The showing
The scheduling
The presentations
The contracts
The open houses and so forth
Therefore, learning to market you business online can produce new clients and customers. This can lower your marketing, presentation and open house time. How you ask? Your clients and customers are sending you referrals. They are marketing and presenting you for you to their friends and family. You are by now asking, how do you know this?
I am Realtor and after nearly 2 decades of marketing real estate, I retired my license. I am making more money marketing different products and services online and with out all the driving, making appointments, writing contracts, negotiating and so forth and so on.
Within the last few months, my database has grown from 5,000 contacts to close to 165,000 contacts. My database is increasing, by nearly 40,000 new contacts a month, just from marketing things on the internet.
Imagine building a database of customers that are buying from you and clients that you can market to that will send you referrals that are in the market to buy or sell a home.
Picture this, simply by marketing a product or service online you build a database of long time clients and customers, who refer to you their friends and family that are in the market to sell or buy a home or anything else for that matter. Simply by sending people to a website were they can purchase things, research things, read things and discover things etc…
Here is a list of things I do and so can you send people to your websites:
1. Affiliate marketing
2. Ad/Web Copy
3. My Space/You tube
4. Blogs
5. Teleseminars
6. Articles
7. Resellers
8. PLR
9. Capture Pages
10. Auctions and so much more
The average professionals income is produced one sale at a time, yet their expenses grow daily. Internet marketing is different. By using internet marketing, you can reposition yourself after attending a 1 to 3 day course to learn how to create and market products that will produce for you income and clients.
Just follow the steps below and you can begin to experience the same results or better. I like better.
• Make the commitment to your future and fortunes.
• Attend an internet marketing training course as soon as possible.
• Get started immediately.
1. You do not know what to do first just contact me by phone or email.
2. Internet marketing is a different but in the end it is worth it.
3. Make a plan to designate 1 hour per day to develop you.
4. Ask me for a copy of the internet marketing wealth formula, developed by Dwayne Golden founder of the Internet Boot Camp I attended.
5. Married or not, have children or not do the following
a. Include your spouse and children or significant other
b. Be a sponge meaning be coach and teachable
c. Set a specific financial goal to start of each month and review at the end of the month
d. Be one of the people selected to attend the Dwayne Golden Internet Marketing Boot Camp FREE, this is a $3,500.00 dollar course.
Contact me by email or phone to receive your copy of the Internet Marketing Formula. Do not forget to ask about the Dwayne Golden Internet Boot Camp Course. The next Internet Marketing Course is on October 26 and 27, 2007 and people from all over the country have enrolled.
Robin D Haywood in February of 2006, ventured into her first Network Marketing Company and reaching the top paying level in less than a month. In August she made the decision to retire from Real Estate which had been apart of her life since l989.
Now she and her husband Ken are Internet Marketers and Business Coaches for the Married Folk. After attending the Dwayne Golden Internet Boot Camp, a $3500.00 course Ken will retire from his 6-figure government job. Get more information on the next Dwayne Golden Internet Boot Camp coming on October 26 and 27 to anyone that calls or emails them. RK Haywood Enterprises Incorporated (RKHEI) formed in 1996 and soon will be focusing on a troubled youth program, a coaching and training program for veterans returning the war.
Yours in prosperity and success,
Robin D Haywood, CEO301-335-1609ceo@rkhei.comhttp://www.rkhei.comhttp://www.haywoodtravel.net
Article Source: http://EzineArticles.com/?expert=Robin_D_Haywood
Monday, October 15, 2007
What is a No Doc or Low Doc Home Loan?
A "Lo Doc" or sometimes call "Lo Doc Home loan" are mortgage or home loans where documentation for verification of your income is not required. However, all other documentation is.
These loans are ideally suited to self-employed, independent contractors, investors, credit rating impaired, ex-bankrupt or clients with arrears on current mortgages and borrowers who have been rejected by traditional lenders. Including people with suitable incomes but to meet bank verification takes valuable times and money.
Low Doc Home Loans (Low Document) are usually slightly more expensive than traditional loans due to the higher risk profile.
This is primarily for people who are looking to purchase investment properties, residential or refinance existing housing property and don’t have PAYG or current taxation returns confirming their income, which normally sustains a standard investment loan.
There are 3 main types of Low Doc or No Document Loans.
No Ratio Loans
These loans are for lenders who may not wish to disclose their incomes, Thus there is no debt to income ratios for the lender to consider. Good credit and abundant assets the No Ratio borrower has makes up for the lender not considering the borrower’s income information. If gathering income documentation's is going to be a logistical nightmare, then this loan can offer a quick and easy process.
No Doc Loans
To get credit the No Doc loans requires the least amount of documentation. The lender evaluates your loan request with the minimal amount of financial information from the lender and maximum privacy is assured.
Stated-Income (Low Doc) Loans
If your income fluctuates week to week, month to month, the Stated-Income, or Low Doc loans are the most attractive. However unlike the No Doc Loans, the Low Doc Loan does require the lender to disclose earnings, usually for two years, and might need to show tax returns and bank statements.
If you think a No Doc or Low Doc loan is right for your situation, talk to a mortgage expert. It might be beneficial for you to pay a higher rate for this loan. A good mortgage banker can also show you how to obtain the necessary documentation.
Steve Szasz is the Webmaster and CEO of Finance Unlimited. His website can be found at Finance Unlimited
Article Source: http://EzineArticles.com/?expert=Steve_Szasz
These loans are ideally suited to self-employed, independent contractors, investors, credit rating impaired, ex-bankrupt or clients with arrears on current mortgages and borrowers who have been rejected by traditional lenders. Including people with suitable incomes but to meet bank verification takes valuable times and money.
Low Doc Home Loans (Low Document) are usually slightly more expensive than traditional loans due to the higher risk profile.
This is primarily for people who are looking to purchase investment properties, residential or refinance existing housing property and don’t have PAYG or current taxation returns confirming their income, which normally sustains a standard investment loan.
There are 3 main types of Low Doc or No Document Loans.
No Ratio Loans
These loans are for lenders who may not wish to disclose their incomes, Thus there is no debt to income ratios for the lender to consider. Good credit and abundant assets the No Ratio borrower has makes up for the lender not considering the borrower’s income information. If gathering income documentation's is going to be a logistical nightmare, then this loan can offer a quick and easy process.
No Doc Loans
To get credit the No Doc loans requires the least amount of documentation. The lender evaluates your loan request with the minimal amount of financial information from the lender and maximum privacy is assured.
Stated-Income (Low Doc) Loans
If your income fluctuates week to week, month to month, the Stated-Income, or Low Doc loans are the most attractive. However unlike the No Doc Loans, the Low Doc Loan does require the lender to disclose earnings, usually for two years, and might need to show tax returns and bank statements.
If you think a No Doc or Low Doc loan is right for your situation, talk to a mortgage expert. It might be beneficial for you to pay a higher rate for this loan. A good mortgage banker can also show you how to obtain the necessary documentation.
Steve Szasz is the Webmaster and CEO of Finance Unlimited. His website can be found at Finance Unlimited
Article Source: http://EzineArticles.com/?expert=Steve_Szasz
Sunday, October 14, 2007
How To Get Money Back When Buying Real Estate
If you have the knowledge there are many ways you can get some money back from the seller when buying real estate. One of these ways is to get the seller to pay for the closing cost. The closing cost may not be a lot of money compared to the price of the property so it is a good thing to negotiate. If a seller is eager to sell a small thing like closing cost will not let him or her leave the bargaining table.
Another way you can get some money back from the seller when buying real estate is getting the seller to pay for the taxes for the rest of the year in witch you are buying the property. Again this will not be a lot of money compared to the property witch makes it a good thing to put on the bargaining table. One last way to get some money back from the seller when buying real estate is getting the seller to pay for the things that need to be repaired or replaced. This can be a lot or a little, it all depends on the shape the property is in. This is harder the get a seller to agree to than the first two, but it is not impossible to find a seller that will. If the property needs a lot of work it is good idea to see if you can get the seller to pay for half or more of the repair cost.
All ways make sure that if you do get the seller to agree to give you back any money for any reason that you get it in writing. It is a good way to make sure every one is on the same page. Getting money back when buying real estate is not an easy thing to ask for, but if you know what to ask for it can make the process a whole lot easer. This is a good way to help you to save a lot of your hard earn money.
http://www.amazines.com/Real_Estate/article_detail.cfm/218822?articleid=218822
Another way you can get some money back from the seller when buying real estate is getting the seller to pay for the taxes for the rest of the year in witch you are buying the property. Again this will not be a lot of money compared to the property witch makes it a good thing to put on the bargaining table. One last way to get some money back from the seller when buying real estate is getting the seller to pay for the things that need to be repaired or replaced. This can be a lot or a little, it all depends on the shape the property is in. This is harder the get a seller to agree to than the first two, but it is not impossible to find a seller that will. If the property needs a lot of work it is good idea to see if you can get the seller to pay for half or more of the repair cost.
All ways make sure that if you do get the seller to agree to give you back any money for any reason that you get it in writing. It is a good way to make sure every one is on the same page. Getting money back when buying real estate is not an easy thing to ask for, but if you know what to ask for it can make the process a whole lot easer. This is a good way to help you to save a lot of your hard earn money.
http://www.amazines.com/Real_Estate/article_detail.cfm/218822?articleid=218822
10 Tips For Buy-To-Let Investment Success
The Buy-To-Let market place is booming. More and more people are investing in a second property as a long term investment plan. As attractive as the proposition sounds, there are a number of potential pitfalls that need to be taken into consideration. Use the steps below to ensure that your Buy-To-Let investment is a success.
#1 Choose The Right Property The location is extremely important. Make sure that speak to a number of local letting agents to determine the supply and demand in the area. Look at such things as whether there are local employers or a university. You can get the details of letting agents near you by contacting The Association of Residential Letting Agents.
#2 Choose The Right Mortgage You will need to check with your lender to how much you eligible to borrow. Most lenders will allow you to borrow 85 percent of the properties value. Also most lenders will take into account the expected rental income when they are deciding how much they will lend. Make sure that your rental income covers 125 percent of your monthly mortgage payment.
#3 Work Out Costs And Income Work out how much your monthly mortgage repayment will be and whether the expected rental income will exceed this. Checking out the rental prices of similar properties advertised in newspapers in your area will give an indication of whether this is possible. Also look at whether you could afford your mortgage if interest rates shop up and the property is unoccupied for 3 months.
#4 Consider Hidden Costs You will have to pay solicitors fees, estate agents fees, building insurance, mortgage arrangement fees, stamp duty and possibly service charges and ground rent.
#5 Budget For Ongoing Costs You are responsible for ensuring that the property meets health and safety standards. Local authorities require that you comply with fire regulations, which could mean you have to put in fire doors and smoke alarms.
#6 Choose A Professional Letting Agent You might want to consider using a professional letting agent. They will find tenants, collect deposits and the rent and arrange the inventory and tenancy agreements. But expect to be charged anything from between 10 to 18 percent of the gross rental income that you get.
#7 Ensure You Have The Right Insurance As you are the owner it is your responsibility to insure the structure of the property, which includes permanent fixtures and fittings. You will need to check your policy as most buildings insurance policies exclude buy-to-lets.
#8 Sort Out Your Tax Position You have to pay income tax on any rental income you receive, but you can deduct some expenses and you will probably be liable for Capital Gains Tax when you sell. You would be well advised to speak to your accountant before you proceed.
#9 Get A Fully Flexible Mortgage These types of mortgages are well suited to the buy-to-let market. This is because you can fluctuate your payments in line with rental income.
#10 View Buy-To-Let As A Long Term Investment Do not expect to make a quick profit on rental income and equity gain in the property. You look at the longer terms for profits. Generally about five to ten years.
http://www.amazines.com/Real_Estate/article_detail.cfm/219716?articleid=219716
#1 Choose The Right Property The location is extremely important. Make sure that speak to a number of local letting agents to determine the supply and demand in the area. Look at such things as whether there are local employers or a university. You can get the details of letting agents near you by contacting The Association of Residential Letting Agents.
#2 Choose The Right Mortgage You will need to check with your lender to how much you eligible to borrow. Most lenders will allow you to borrow 85 percent of the properties value. Also most lenders will take into account the expected rental income when they are deciding how much they will lend. Make sure that your rental income covers 125 percent of your monthly mortgage payment.
#3 Work Out Costs And Income Work out how much your monthly mortgage repayment will be and whether the expected rental income will exceed this. Checking out the rental prices of similar properties advertised in newspapers in your area will give an indication of whether this is possible. Also look at whether you could afford your mortgage if interest rates shop up and the property is unoccupied for 3 months.
#4 Consider Hidden Costs You will have to pay solicitors fees, estate agents fees, building insurance, mortgage arrangement fees, stamp duty and possibly service charges and ground rent.
#5 Budget For Ongoing Costs You are responsible for ensuring that the property meets health and safety standards. Local authorities require that you comply with fire regulations, which could mean you have to put in fire doors and smoke alarms.
#6 Choose A Professional Letting Agent You might want to consider using a professional letting agent. They will find tenants, collect deposits and the rent and arrange the inventory and tenancy agreements. But expect to be charged anything from between 10 to 18 percent of the gross rental income that you get.
#7 Ensure You Have The Right Insurance As you are the owner it is your responsibility to insure the structure of the property, which includes permanent fixtures and fittings. You will need to check your policy as most buildings insurance policies exclude buy-to-lets.
#8 Sort Out Your Tax Position You have to pay income tax on any rental income you receive, but you can deduct some expenses and you will probably be liable for Capital Gains Tax when you sell. You would be well advised to speak to your accountant before you proceed.
#9 Get A Fully Flexible Mortgage These types of mortgages are well suited to the buy-to-let market. This is because you can fluctuate your payments in line with rental income.
#10 View Buy-To-Let As A Long Term Investment Do not expect to make a quick profit on rental income and equity gain in the property. You look at the longer terms for profits. Generally about five to ten years.
http://www.amazines.com/Real_Estate/article_detail.cfm/219716?articleid=219716
Property Prices Are Falling Here Is a Simple Solution
The property market after many years of good growth is starting to slow and with the stock market falling home owners are starting to worry that house prices could nose dive to.
However there is a simple way to protect yourself from these falls and its becoming more popular than ever.
The Outlook
The property boom is over for the time being for the following simple reasons:
Liquidity in the economy is being curtailed by higher interest rates.
This makes both exiting and new mortgages cost more and less people can afford new housing or to move.
Even if rates were not to rise any further the above still applies to a lot of homeowners:
There are a huge percentage of mortgages that were sold with low starter rates which have now increased and this is equivalent to a rate rise to these people.
After a boom a best normally follows and that is what we are likely to see.
If the stock market continues to fall then liquidity will be squeezed even further and less money means less wealth and housing prices will suffer even more.
A simple solution
There are schemes that will allow you to lock in the value of your house at current rates for a small premium.
If house prices fall then you can get the value you locked in your property at and you are protected against a plunging property market.
If house prices rise, you are unaffected and can take advantage of the full gain in prices.
So you protect yourself from falls and can take advantage of any rises which gives peace of mind.
In a raging bull market these companies don’t do much business, but in a falling market business is booming and it is perhaps something that any homeowner should consider.
The amount paid for the protection offered is affordable and gives peace of mind and is applicable to the majority of home owners.
Not only is this significant for home owners it also cuts the risk of people investing in property and can be used on commercial property as well.
History repeats itself
The housing boom has been great, prices have risen strongly and economic conditions now point to lower prices.
Locking in property values against price falls looks set to become more popular than ever.
MORE FREE INFO ON PROPERTY PROTECTION
On how to get peace of mind and locking in the value of your property at current value visit our website for a huge resource of articles, features and downloads and at http://www.net-planet.org/index.html
http://www.amazines.com/Real_Estate/article_detail.cfm/219830?articleid=219830
However there is a simple way to protect yourself from these falls and its becoming more popular than ever.
The Outlook
The property boom is over for the time being for the following simple reasons:
Liquidity in the economy is being curtailed by higher interest rates.
This makes both exiting and new mortgages cost more and less people can afford new housing or to move.
Even if rates were not to rise any further the above still applies to a lot of homeowners:
There are a huge percentage of mortgages that were sold with low starter rates which have now increased and this is equivalent to a rate rise to these people.
After a boom a best normally follows and that is what we are likely to see.
If the stock market continues to fall then liquidity will be squeezed even further and less money means less wealth and housing prices will suffer even more.
A simple solution
There are schemes that will allow you to lock in the value of your house at current rates for a small premium.
If house prices fall then you can get the value you locked in your property at and you are protected against a plunging property market.
If house prices rise, you are unaffected and can take advantage of the full gain in prices.
So you protect yourself from falls and can take advantage of any rises which gives peace of mind.
In a raging bull market these companies don’t do much business, but in a falling market business is booming and it is perhaps something that any homeowner should consider.
The amount paid for the protection offered is affordable and gives peace of mind and is applicable to the majority of home owners.
Not only is this significant for home owners it also cuts the risk of people investing in property and can be used on commercial property as well.
History repeats itself
The housing boom has been great, prices have risen strongly and economic conditions now point to lower prices.
Locking in property values against price falls looks set to become more popular than ever.
MORE FREE INFO ON PROPERTY PROTECTION
On how to get peace of mind and locking in the value of your property at current value visit our website for a huge resource of articles, features and downloads and at http://www.net-planet.org/index.html
http://www.amazines.com/Real_Estate/article_detail.cfm/219830?articleid=219830
Buying An Investment Property
So the thought may have occurred to purchase yourself a second home to use as an investment property. Good choice. Real estate is making people great amounts of money so why not grab a hold of your chunk of the pie right? Do be careful however because this is something that will require some planning on your part. Investing in a home is a great way to build your equity and overall worth. Its also give you chance to climb the property ladder a little faster. The big question is, will you flip the home, or take on the mantle of landlord?
This decision will define the future of the home as with flipping there are likely quite a few renovations and such that you will do to increase the home's asking value. Whereas with renting the home, depending on the home's quality there will hopefully only be minor fixes that are necessary. Taking a look at the average home flip, if you think about all the TV shows on this topic then what can be done to a home in preparation for a flip can be quite an expense and take a fair amount of time or grief. Be reasonable about your expectations for renovations. Never lose sight of the fact that your fixes have to justify the increased asking price or savvy buyers will lose interest quickly. Also try not to be too outrageous with the design or color scheme as this too can alienate a sector of the buying market. Make sure that all the work is done to code and decorate appropriately for the space.
If you have chosen to be a landlord then your path is a little different. If any renos are to be done, try to ensure that they are well done and simple and will appeal to your average renter. If you are thoughtful about your improvements and create a good and clean space where everything works properly you should be able to attract a higher class of renter. Of course the ideal situation would be long-term renters who are quiet and always pay their rent on time. However it usually take some time to find these kind of renters, so in the meantime be prepared that you may have to evict someone at some time. Not an easy thing to do but it is sometimes necessary. Try to arrange it so that the rent for the month pays off the mortgage, it's a great way to accrue equity.
Rick & Jennifer LeForce are Peoria Arizona Real Estate agents specializing in bringing families and homes together in the Metro Phoenix area. With years of experience and happy clients, Rick and Jennifer are your smart choice for Peoria Arizona Real Estate. Contact Rick & Jennifer today or visit us at www.personalizedhomesearch.com
http://www.amazines.com/Real_Estate/article_detail.cfm/219852?articleid=219852
This decision will define the future of the home as with flipping there are likely quite a few renovations and such that you will do to increase the home's asking value. Whereas with renting the home, depending on the home's quality there will hopefully only be minor fixes that are necessary. Taking a look at the average home flip, if you think about all the TV shows on this topic then what can be done to a home in preparation for a flip can be quite an expense and take a fair amount of time or grief. Be reasonable about your expectations for renovations. Never lose sight of the fact that your fixes have to justify the increased asking price or savvy buyers will lose interest quickly. Also try not to be too outrageous with the design or color scheme as this too can alienate a sector of the buying market. Make sure that all the work is done to code and decorate appropriately for the space.
If you have chosen to be a landlord then your path is a little different. If any renos are to be done, try to ensure that they are well done and simple and will appeal to your average renter. If you are thoughtful about your improvements and create a good and clean space where everything works properly you should be able to attract a higher class of renter. Of course the ideal situation would be long-term renters who are quiet and always pay their rent on time. However it usually take some time to find these kind of renters, so in the meantime be prepared that you may have to evict someone at some time. Not an easy thing to do but it is sometimes necessary. Try to arrange it so that the rent for the month pays off the mortgage, it's a great way to accrue equity.
Rick & Jennifer LeForce are Peoria Arizona Real Estate agents specializing in bringing families and homes together in the Metro Phoenix area. With years of experience and happy clients, Rick and Jennifer are your smart choice for Peoria Arizona Real Estate. Contact Rick & Jennifer today or visit us at www.personalizedhomesearch.com
http://www.amazines.com/Real_Estate/article_detail.cfm/219852?articleid=219852
Knowledge is the Key to a Successful Real Estate Investing
A lot of people are looking for ways to have additional income.
For many years, real estate has been a well known investment. Most of the millionaires out there made their first million dollars in entering into real estate. Indeed, even celebrities are venturing out into real estate investing. They believe that a big way of money making is through real estate investing.
Yes, real estate investing can be as all what it is in the television and celebrities program, they say it is, but investing in real estate is not that easy. Investing in real estate requires a lot such as buying, selling, negotiating and repairing a property or home. So knowledge in this field of business is very important. Someone who wants to go into real estate investing must has the necessary knowledge in this kind of business. Certainly, you do not want to put your money into waste, if something goes wrong. Proper education in this field should be taken into consideration.
Indeed, everyone can enter the world of real estate; anyone can invest in real estate if they desire to invest. All of them can also be successful in real estate investing, provided that they have gain the proper knowledge in real estate investing. Actually, it is possible that anyone can learn on how to invest in real estate.
Anyone can learn about real estate investing, anyone who considers purchasing a property as an investment, provided that they are educated with this field before doing the buying. There are a lot of strategies and techniques that real estate investors have tried everyday such as rentals, foreclosure, lease options and so on. Certainly, those real estate investors who gave their time to learn and educate themselves will be successful in this type of business.
If you are planning to buy property then sell it on your own, without working with an agent, would be risky in having financial loss, if you do not educate yourself first before entering into such field.
There are lots of ways to gain knowledge about real estate investing. One way is by purchasing books to get several advices and guidelines. Another way is through the internet, there are a lot of websites that cater about real estate investing. There are websites that can give you explanation, trainings, education on different topics in real estate investing.
You can also find some mentors online to give you advices and guidelines about real estate investing. Nowadays, there are also some universities that teach real estate investing.
Absolutely, real estate investing is a profitable business. But of course, you do not have to enter into such business just that, you have to gain the valuable knowledge needed in this type of business, in order not to fail. It would be too risky in your part, if you enter into real estate investing without the necessary knowledge; you do not have the immediate techniques and strategies in handling some problems. So a proper education is a must in venturing out to real estate investing.
Indeed, knowledge is the key to be successful in real estate investing. So if you are planning to venture out to such business, start gaining the necessary knowledge you’ll need in investing at real estate.
http://www.amazines.com/Real_Estate/article_detail.cfm/219883?articleid=219883
For many years, real estate has been a well known investment. Most of the millionaires out there made their first million dollars in entering into real estate. Indeed, even celebrities are venturing out into real estate investing. They believe that a big way of money making is through real estate investing.
Yes, real estate investing can be as all what it is in the television and celebrities program, they say it is, but investing in real estate is not that easy. Investing in real estate requires a lot such as buying, selling, negotiating and repairing a property or home. So knowledge in this field of business is very important. Someone who wants to go into real estate investing must has the necessary knowledge in this kind of business. Certainly, you do not want to put your money into waste, if something goes wrong. Proper education in this field should be taken into consideration.
Indeed, everyone can enter the world of real estate; anyone can invest in real estate if they desire to invest. All of them can also be successful in real estate investing, provided that they have gain the proper knowledge in real estate investing. Actually, it is possible that anyone can learn on how to invest in real estate.
Anyone can learn about real estate investing, anyone who considers purchasing a property as an investment, provided that they are educated with this field before doing the buying. There are a lot of strategies and techniques that real estate investors have tried everyday such as rentals, foreclosure, lease options and so on. Certainly, those real estate investors who gave their time to learn and educate themselves will be successful in this type of business.
If you are planning to buy property then sell it on your own, without working with an agent, would be risky in having financial loss, if you do not educate yourself first before entering into such field.
There are lots of ways to gain knowledge about real estate investing. One way is by purchasing books to get several advices and guidelines. Another way is through the internet, there are a lot of websites that cater about real estate investing. There are websites that can give you explanation, trainings, education on different topics in real estate investing.
You can also find some mentors online to give you advices and guidelines about real estate investing. Nowadays, there are also some universities that teach real estate investing.
Absolutely, real estate investing is a profitable business. But of course, you do not have to enter into such business just that, you have to gain the valuable knowledge needed in this type of business, in order not to fail. It would be too risky in your part, if you enter into real estate investing without the necessary knowledge; you do not have the immediate techniques and strategies in handling some problems. So a proper education is a must in venturing out to real estate investing.
Indeed, knowledge is the key to be successful in real estate investing. So if you are planning to venture out to such business, start gaining the necessary knowledge you’ll need in investing at real estate.
http://www.amazines.com/Real_Estate/article_detail.cfm/219883?articleid=219883
Views on the Future of the Real Estate
Maybe you are hearing that the baby boomers are now starting to retire.
As soon as the money is being pulled out, the stock market and the real estate market will suffer, barely true for real estate.
If you are wondering who are the baby boomers that was mentioned a while ago, baby boomers are those individuals which were born between the periods of 1945 to 1964. During those period came along an explosion in the birth rates in the US.
But now, there are some who worries about the future of the real estate if the baby boomers started to move out of the market. Some are wondering who will replace them, and what will happen to their money. Several also wonder what will happen to the stock market when the baby boomers move out. Maybe others even thinking what will happen to the real estate market, when baby boomers are starting to pass their peak earning years. Some thinks that everything will just crash. They are wrong, definitely it won’t.
There are some reasons that the real estate will not just die. The first reason is the boomers; these people will not disappear when they retire. You know, most of them will still continually to invest in real estate as soon as they begin to receive their retirement distributions. There was actually a fact that shows last 2004, that most of the home sales, 35% of it were for second homes. So it is very obvious that the boomers will remain active in real estate.
The second reason is that there are new generations that are starting to be introduced in the real estate market. Yes, indeed, we all believe that boomers are the largest population, but you have to bear in mind that these boomers have children. So the second largest populations that you have now are the children. Most of them are now in their twenties or thirties, so they are now into real estate market as buyers, they can even borrow to their parents for their down payments in order to purchase property.
Immigrants are another reason; there are a huge number of legal immigrants moving to the country since the year 1970, so clearly these people can be represented as buyers to the real estate market.
Therefore, there are still a lot of people who will be represented as buyers in real estate market. So no one have to worry about dying real estate, since real estate will never die.
Real estate market will continually to whirr as it always has before. Indeed, real estate will still be the great investment anyone can make. There maybe some fluctuations at some point or another, but the predictions of the death or end of real estate market will never happen since there are no supported facts about that. So now that you now that there are no supported facts about it, so now you do not have to worry about real estate market, since real estate market will continue to purr and run smoothly as it always has. Know more about Florida Real Estate & Mortgage
http://www.amazines.com/Real_Estate/article_detail.cfm/219900?articleid=219900
As soon as the money is being pulled out, the stock market and the real estate market will suffer, barely true for real estate.
If you are wondering who are the baby boomers that was mentioned a while ago, baby boomers are those individuals which were born between the periods of 1945 to 1964. During those period came along an explosion in the birth rates in the US.
But now, there are some who worries about the future of the real estate if the baby boomers started to move out of the market. Some are wondering who will replace them, and what will happen to their money. Several also wonder what will happen to the stock market when the baby boomers move out. Maybe others even thinking what will happen to the real estate market, when baby boomers are starting to pass their peak earning years. Some thinks that everything will just crash. They are wrong, definitely it won’t.
There are some reasons that the real estate will not just die. The first reason is the boomers; these people will not disappear when they retire. You know, most of them will still continually to invest in real estate as soon as they begin to receive their retirement distributions. There was actually a fact that shows last 2004, that most of the home sales, 35% of it were for second homes. So it is very obvious that the boomers will remain active in real estate.
The second reason is that there are new generations that are starting to be introduced in the real estate market. Yes, indeed, we all believe that boomers are the largest population, but you have to bear in mind that these boomers have children. So the second largest populations that you have now are the children. Most of them are now in their twenties or thirties, so they are now into real estate market as buyers, they can even borrow to their parents for their down payments in order to purchase property.
Immigrants are another reason; there are a huge number of legal immigrants moving to the country since the year 1970, so clearly these people can be represented as buyers to the real estate market.
Therefore, there are still a lot of people who will be represented as buyers in real estate market. So no one have to worry about dying real estate, since real estate will never die.
Real estate market will continually to whirr as it always has before. Indeed, real estate will still be the great investment anyone can make. There maybe some fluctuations at some point or another, but the predictions of the death or end of real estate market will never happen since there are no supported facts about that. So now that you now that there are no supported facts about it, so now you do not have to worry about real estate market, since real estate market will continue to purr and run smoothly as it always has. Know more about Florida Real Estate & Mortgage
http://www.amazines.com/Real_Estate/article_detail.cfm/219900?articleid=219900
Real Estate Investments : Land
With today's focus on investing in and flipping homes, there is an investment that has become lost in the glamour of high profile home flipping. The purchase of land has always been one of the more secure forms of real estate investment, and if you are looking for a long-term asset land is perfect. There are numerous ways you can go about making a profit off your purchase of land, but most involve proper zoning and selling to the right person or company.
Before you purchase any parcel of land, do some research into the zoning of the area. Find out if it is zoned for residential, commercial or both. Finding something that is zoned for both is a great find because it gives you the widest array of options when selling. Also try to find out if there are any liens or easements on the property, this information will be critical when selling. Now consider the area that the land is in, is it an area that is likely to be developed? How does it match up in terms of location and proximity to amenities existing or proposed?
Also try to find out how the surrounding land has appreciated in the past years. If the area you are looking at has seen a push on development there is a good chance that land will be selling for a premium price as the development continues. To make your land more attractive to buyers, try clearing it yourself (if possible). Having all scrub and stumps removed is an attractive aspect to developers as it will save them time and money in the long run. Prospecting on the value of land can really pay off in the end if done correctly. development companies will pay top dollar for land in the right place so do your homework and good luck!
Adam Coyle is a representative of Smith Bowden Real Estate, serving the Madison, Wisconsin real estate community. Smith Bowden specializes in helping buyers invest in properties and expand their real estate portfolios. For more info check out www.smithbowden.com.
http://www.amazines.com/Real_Estate/article_detail.cfm/219910?articleid=219910
Before you purchase any parcel of land, do some research into the zoning of the area. Find out if it is zoned for residential, commercial or both. Finding something that is zoned for both is a great find because it gives you the widest array of options when selling. Also try to find out if there are any liens or easements on the property, this information will be critical when selling. Now consider the area that the land is in, is it an area that is likely to be developed? How does it match up in terms of location and proximity to amenities existing or proposed?
Also try to find out how the surrounding land has appreciated in the past years. If the area you are looking at has seen a push on development there is a good chance that land will be selling for a premium price as the development continues. To make your land more attractive to buyers, try clearing it yourself (if possible). Having all scrub and stumps removed is an attractive aspect to developers as it will save them time and money in the long run. Prospecting on the value of land can really pay off in the end if done correctly. development companies will pay top dollar for land in the right place so do your homework and good luck!
Adam Coyle is a representative of Smith Bowden Real Estate, serving the Madison, Wisconsin real estate community. Smith Bowden specializes in helping buyers invest in properties and expand their real estate portfolios. For more info check out www.smithbowden.com.
http://www.amazines.com/Real_Estate/article_detail.cfm/219910?articleid=219910
Buying Property in Thailand
When thinking of overseas property for investment purposes the British have invariably and predominantly looked to Spain and France in the past. More recently Bulgaria,The Czech Republic, Poland, Latvia, Croatia and with their accession into the EU on the first of January 2007 Romania now seems a viable option and alternative. For some of the more pioneering Americans Eastern Europe is also a favourable choice for affordable real estate, offering a low cost and comfortable standard of living. Furthermore the majority of the emerging economies within the Eastern bloc and real estate markets are pro active and working hard to attract foreign investment.
A growing number of US citizens are choosing to move north to Canada where real estate can be cheaper,taxation can be lower, healthcare is far cheaper and the standard of living as high as in America. Countries such as Mexico, Panama and Belize are well known as lower cost locations for US citizens seeking an affordable overseas location. Living costs, real estate and taxation are all low. However the main consideration is the affordability and accessibility of healthcare and of necessary treatment and care, each of the three countries mentioned fails in one way or another. Furthermore, younger Americans may struggle to find decent employment or education for their children in Mexico, Panama or Belize.
The British have always been obsessed with property and the expression 'an Englishman's home is his castle' has never rung more true. With the cost of housing within the UK out of the reach of most first time buyers and those first time buyers continually vying for property with buy to let investors more of the early twenties are putting down roots in more affordable countries. As always though anyone considering these locations are advised to act sooner rather than later.
The Sofia Echo in early January reported that developers have worked on entire apartment and villa complexes in smaller and less popular regions with significant funds allocated to such projects. Investors, it seems, showed more interest in getting a new apartment close to a major city, rather than an old house to refurbish. as a result of continual development the price of property in such regions remained almost unchanged throughout 2006. In some regions, the price of property even went down. Varna region registered a 15 per cent price decrease. The average price per square metre in the region dropping from 600 to 510 euro. Supply also brought down the prices of property in the Bourgas region.
With the advent of cheap air flights this has further enhanced the idea of a dream home in the sun. However can accessibility be correlated directly to sustainable investment potential. Thailand is approximately 10000 miles from the US and approximately 6000 miles from the UK, With flying times of approximately 21 hours and 11 hours respectively. Perhaps not suitable to the masses and ensuring a restricted and select ex-pat presence.
Thailand has three main seasons per year. Northern climatic conditions are preferred by Thais countrywide as the coolest and most comfortable. Generally northern temperatures are between 3-5 degrees lower than the rest of the country, Chiang Mai city is a favoured location and the climate is perfect for visitors. Cool mountain air and bright sunny days ensure that this Shangri-la setting will remain a favourite for many years to come. The North also differs during the rainy season and continuous rainfall is quite rare. It will usually rain heavily for a period between 30 minutes to one hour, once or twice a day and soon dries up after the sun appears. The area is then left feeling fresh and cool. The average temperature throughout the year being approximately 26 degrees.
Chiang Mai has a significant expat community and some figures put the number of "farangs", or westerners at 5,000. Chiang Mai is much of what Bangkok is not. Instead of the flatness of the Maenam Valley one is treated to ranges of forested mountains that sweep northward to Burma. Hill tribes in colorful costumes are common sights hawking their handicrafts around the night market. As Bangkok has no definite city centre, Chiang Mai's is clearly defined by a moat.
Chiang Mai is certainly easier to negotiate than Bangkok. Walking, bicycling and motorcycling are realistic alternatives to driving. Or if you prefer, tuk-tuks are prolific. A relatively well organized system of songtaews (pickup trucks with benches and canopies) run a sort of shared service around greater Chiang Mai. Some can be hired much as a taxi service. Chiang Mai stands on the banks of the Maenam Ping (river) and quite a number of good restaurants are perched along the banks.
There is also a strong emphasis on healthcare and Chiang Mai has several quality hospitals including Chiang Mai Ram,Chiang Mai University and the McCormack Hospital. Along with the presence of US and UK consulates. ATMs are everywhere and currency exchanges are commonplace. Interest earned on fixed deposit accounts is taxable at 15% and collected by the banks.
Mortgage-Loan-UK is a premier resource for personal finance information along with an extensive collection of mortgage related calculators. For more information on luxuryThailand property and especially chiang Mai property offering resort style living visit us now.
http://www.amazines.com/Real_Estate/article_detail.cfm/219912?articleid=219912
A growing number of US citizens are choosing to move north to Canada where real estate can be cheaper,taxation can be lower, healthcare is far cheaper and the standard of living as high as in America. Countries such as Mexico, Panama and Belize are well known as lower cost locations for US citizens seeking an affordable overseas location. Living costs, real estate and taxation are all low. However the main consideration is the affordability and accessibility of healthcare and of necessary treatment and care, each of the three countries mentioned fails in one way or another. Furthermore, younger Americans may struggle to find decent employment or education for their children in Mexico, Panama or Belize.
The British have always been obsessed with property and the expression 'an Englishman's home is his castle' has never rung more true. With the cost of housing within the UK out of the reach of most first time buyers and those first time buyers continually vying for property with buy to let investors more of the early twenties are putting down roots in more affordable countries. As always though anyone considering these locations are advised to act sooner rather than later.
The Sofia Echo in early January reported that developers have worked on entire apartment and villa complexes in smaller and less popular regions with significant funds allocated to such projects. Investors, it seems, showed more interest in getting a new apartment close to a major city, rather than an old house to refurbish. as a result of continual development the price of property in such regions remained almost unchanged throughout 2006. In some regions, the price of property even went down. Varna region registered a 15 per cent price decrease. The average price per square metre in the region dropping from 600 to 510 euro. Supply also brought down the prices of property in the Bourgas region.
With the advent of cheap air flights this has further enhanced the idea of a dream home in the sun. However can accessibility be correlated directly to sustainable investment potential. Thailand is approximately 10000 miles from the US and approximately 6000 miles from the UK, With flying times of approximately 21 hours and 11 hours respectively. Perhaps not suitable to the masses and ensuring a restricted and select ex-pat presence.
Thailand has three main seasons per year. Northern climatic conditions are preferred by Thais countrywide as the coolest and most comfortable. Generally northern temperatures are between 3-5 degrees lower than the rest of the country, Chiang Mai city is a favoured location and the climate is perfect for visitors. Cool mountain air and bright sunny days ensure that this Shangri-la setting will remain a favourite for many years to come. The North also differs during the rainy season and continuous rainfall is quite rare. It will usually rain heavily for a period between 30 minutes to one hour, once or twice a day and soon dries up after the sun appears. The area is then left feeling fresh and cool. The average temperature throughout the year being approximately 26 degrees.
Chiang Mai has a significant expat community and some figures put the number of "farangs", or westerners at 5,000. Chiang Mai is much of what Bangkok is not. Instead of the flatness of the Maenam Valley one is treated to ranges of forested mountains that sweep northward to Burma. Hill tribes in colorful costumes are common sights hawking their handicrafts around the night market. As Bangkok has no definite city centre, Chiang Mai's is clearly defined by a moat.
Chiang Mai is certainly easier to negotiate than Bangkok. Walking, bicycling and motorcycling are realistic alternatives to driving. Or if you prefer, tuk-tuks are prolific. A relatively well organized system of songtaews (pickup trucks with benches and canopies) run a sort of shared service around greater Chiang Mai. Some can be hired much as a taxi service. Chiang Mai stands on the banks of the Maenam Ping (river) and quite a number of good restaurants are perched along the banks.
There is also a strong emphasis on healthcare and Chiang Mai has several quality hospitals including Chiang Mai Ram,Chiang Mai University and the McCormack Hospital. Along with the presence of US and UK consulates. ATMs are everywhere and currency exchanges are commonplace. Interest earned on fixed deposit accounts is taxable at 15% and collected by the banks.
Mortgage-Loan-UK is a premier resource for personal finance information along with an extensive collection of mortgage related calculators. For more information on luxuryThailand property and especially chiang Mai property offering resort style living visit us now.
http://www.amazines.com/Real_Estate/article_detail.cfm/219912?articleid=219912
Save the Money - Sell the House - 10 Inexpensive Things to Help you Sell The Indoors
If you’re ready to put your home on the market, it’s time to look at the inside of your home with a critical eye. The good news is that there are many very simple, inexpensive projects you can do that will greatly improve a buyer’s opinion of your home.
Several popular TV shows now focus on improving the interior appearance of homes in order to increase their market value or appeal. Often, properties showcased on this program undergo amazing visual transformations through very small changes. We can use this attitude – more for less – to improve the appearance of your home as well.
Always remember our motto – more for less. We want to focus on small, inexpensive changes that impact the VISUAL appearance of your home. Wiring the home for high speed internet (things that will not be seen by visiting buyers or only used in situational circumstances) or spending big bucks for major improvements, like adding granite countertops, will surprisingly yield less than you think.
1. Look Down
This is an important factor for many buyers – what type of flooring you have and most importantly, what the condition is. I’ve literally seen buyers walk away from a home simply because the carpet was overly dirty. You can prevent negative appearance or outright rejection by making sure your floors look their best. If you have carpets, rent a steam cleaner for the weekend and put it to use. They are rather inexpensive and can really rejuvenate carpets, especially older carpets. If you have laminate or hardwood, use a floor cleaner and when it dries, a no-slip floor polish. Make sure you do this in advance of any showings or open houses – you don’t want the house to smell like the cleaning isle of your grocery store. Speaking of which…
2. Destroy Offensive Odors
This one’s tough to judge. Often, we get so used to the smell of our own homes, we can’t be objective anymore. Enlist the help of a friend (your REALTOR is a good choice) who you’re sure will give you an honest evaluation. Here are some common sources of home odors and ways to combat them: Pets: keep the litter box/bird cage/pet areas spotlessly clean. If you have a room that pets frequent, it might be a good candidate for some potpourri or a non-offensive air freshener. Febreeze is a great odor masker – if you have pets (especially dogs) that climb on the couch, chairs or lay on rugs or carpets, give those pieces of furniture a quick spray in advance of your open house. Food Odors: certain types of cooking can really add strong scents to your home. Make sure you keep your kitchen very clean – get rid of any grease that might have collected on your stove, hood, floors or cabinets (check up top too). Get an oven cleaner and wipe out the inside of your oven. Also, make sure any kitchen trash is disposed of promptly. Finally, if you know visitors are coming soon, refrain from cooking anything with powerful odors – take yourself out as a treat for working so hard to get your home ready for sale. Musty Smells: Often the harbinger of water problems that should be checked out, a musty smell is a big turn-off for a buyer. Certain places tend to collect this odor – basements, lower bedrooms, rec. rooms off of walk-in basements, attics or sun rooms. You can try to reduce this by using a de-humidifier regularly (if you own one) in the problem location for a few weeks before any showing. Carpets often collect this odor – make sure you steam clean them (see above). Also, this might be a good candidate for a non-offensive air freshener. If you suspect there is a water problem, get it checked out by a professional.
Just a couple tips on air fresheners: less is more. Make sure you don’t overpower your buyers with air fresheners. This often raises their suspicion that something is being covered up even if there is no real reason for them to be suspicious. Try to use non-offensive odors – lavender, chamomile, light citrus – heavy scents like pine, rose or heavy citrus can be a real turn-off. There is also a good option that I’ll discuss in my last tip of this guide.
3. Fix and Touch Up Walls
Just a few minutes with some spackle, a bit of light sanding and a couple dabs of touch-up paint can repair that hole in the wall from when you bumped it moving furniture, those expansion cracks, nail pops or other wall blemishes, even if you have no repair skills. It just has to look decent, not perfect. Stick down any drywall tape that’s peeling with some spackle and touch up – it tends to be rather unsightly and is easy to notice. Oh, and….
4. Should I Paint Entire Rooms?
It depends. If you have the time to do it yourself or if things look really bad, painting can be a great enhancement. Plus, if you do it yourself, it can be done fairly cheaply. Try to rent a paint sprayer at your local rental store – you’ll be amazed at how easy it is. Strong colors are often an issue with many buyers. You may love pumpkin orange in the family room, but will they? Neutral colors are the best – remember you’re selling this house – you can paint your new one whatever colors you want, but you have to maximize your home’s appeal to as many buyers as possible. Trust me, stick with neutrals here. If there are sections of your home that you feel could really use a new coat, use your judgment. Just remember – more for less.
5. Remove Personal Touches
You want your buyers to identify with your home – to see themselves living there. One thing that distracts from this is seeing a picture of your family every time they turn around. I know it might be sad to see all the pictures come down, but it needs to happen. Just think of this as part of the packing process. It’s also a good time to take all of the homework, pictures and drawings that your children have done off of the fridge or walls.
6. De-clutter Your Way to a Sale
Keep your home neat and tidy for visitors. This is one of the toughest things about having your home on the market – the feeling that your home always needs to be at its best. Even a little can go a long way here. Make sure toys are picked up and put away, home office spaces are kept neat and tidy, storage is stacked in an orderly fashion, laundry is put away, workshop organized, the kitchen is in order and all of those hundred other things you do when company is coming over. A neat home inspires feelings of peace and order in buyers – both good things.
7. Open up the Home
There are a few easy things you can do and a few more difficult things – the good news is that all of them don’t cost much. One of the biggest transformations that happens on those TV home makeover shows occurs when furniture is rearranged to create the impression of more space. Take a critical look at each room in your house – if you have the time, move the furniture around a bit – see if one position is more spacious than another. If you have a digital camera, take pictures and compare them side-by-side. Another option is remove furniture altogether. This is a great idea because not only will it make the house feel more open, but it will give you a jump on packing. I would suggest moving the furniture completely out of the house – perhaps rent an offsite storage area or if this isn’t possible, store all removed items neatly on one side of the garage. Some buyers don’t even look in the garage and if they do, better to have one room full of stuff than the entire home. The final thing is to leave all of the curtains pulled back – this makes a room look more “breezy” and the additional natural light is always a plus.
8. Clean, Clean, Clean
This is a very useful selling tactic, so you really can’t get away with not doing it. Keep those carpets freshly vacuumed, counters wiped down, kitchen cleaned top to bottom (the kitchen is the most important room to many buyers), bathroom completely spic and span (bathroom is often the second most important room to many buyers) and everything dusted. A few other tips – clean the bugs out of the light fixtures – they are a big “YUCK!” Give any woodwork a once-over with some furniture polish and clean those window sills and panes. Make sure you keep all dishes washed and off the counter – dirty dishes are a big turn off. Also, make sure all your closets are organized and neat – buyers will be looking through them to get an idea of storage space – be prepared!
9. Windows and Doors
Surprisingly, this is fairly high on a buyer’s annoyance factor. A sticky or noisy door will make any buyer stop a second and go “hmmm”. The good news is that this is an easy fix – a can of WD-40 takes care of the creaks and for those sticky doors, buy a bar of paraffin wax (found in the canning area of your grocery store) and rub it a bit on the area of the door that looks worn. For windows, make sure they open easily – start by cleaning the tracks – often you will find lots of dirt and grime that prevent the window from opening cleanly. If this doesn’t do the trick, try some WD-40 or a little paraffin wax here too.
10. Prepare the Home for Showing
Our goal here is to make the home as bright and “homey” as possible. There are a few selling tricks that you can use that will really establish this environment. - Bake something – cookies are a good option – toll house is fine – just don’t burn them. We’re going for the aromas here. Freshly baked cookie smell is like expensive perfume to home buyers. - Offer cookies (works out well with the above), or in the summer, cold bottled water. Buyers like these personal touches and they will subconsciously raise their opinions of your home. - Open all the curtains and turn on all the lights – you want your home to feel breezy, bright and open. Change any bulbs that are out. If it’s winter and you have one, light the fireplace. - Set the table as if you were going to have a nice meal with company. You want to sell your dining room as an entertaining space and place settings help build this impression. - Turn on some light music – nothing offensive – smooth jazz is a good option. Keep the volume low – in the background. - This one is vital: remove any small valuables from sight. I’d like to think that all home buyers are always on their best behaviors, but sometimes this isn’t the case – better to be safe than sorry. - The most important thing you can remove from your home to help it sell is yourselves. Take your family out for the day or out for a few hours during the open house/showing. Usually, when a homeowner is present for an open house, it never goes as well – the buyers always feel like they’re imposing, and that’s not what you want. You want them to spend time in your home.
In many cases, a buyer’s decision to make an offer on your home will not come down to any one factor. Think of it as two cups sitting on the counter – one is labeled “YEA!” and one is labeled “YUCK!” As the buyer tours your home, features will either do nothing (every house is supposed to have certain things – they are expected) or will add to one of these two cups. At the end of the showing, if your “YEA!” cup is full and the “YUCK!” is nearly empty, generally you will attract an offer. If it’s the other way around, the buyer moves on. Our goal here is to reduce the number of things that fill the “YUCK!” cup. I know many of these things seem like small details, but they add up in surprising ways. There will always be a few things that buyers don’t like about your home – these are unavoidable – there is no “perfect” house. But all we’re looking for is a majority of the buyer’s experiences to be “YEA!” If you can do this (and we think you can), you’re on your way to selling your home.
http://www.amazines.com/Real_Estate/article_detail.cfm/220026?articleid=220026
Several popular TV shows now focus on improving the interior appearance of homes in order to increase their market value or appeal. Often, properties showcased on this program undergo amazing visual transformations through very small changes. We can use this attitude – more for less – to improve the appearance of your home as well.
Always remember our motto – more for less. We want to focus on small, inexpensive changes that impact the VISUAL appearance of your home. Wiring the home for high speed internet (things that will not be seen by visiting buyers or only used in situational circumstances) or spending big bucks for major improvements, like adding granite countertops, will surprisingly yield less than you think.
1. Look Down
This is an important factor for many buyers – what type of flooring you have and most importantly, what the condition is. I’ve literally seen buyers walk away from a home simply because the carpet was overly dirty. You can prevent negative appearance or outright rejection by making sure your floors look their best. If you have carpets, rent a steam cleaner for the weekend and put it to use. They are rather inexpensive and can really rejuvenate carpets, especially older carpets. If you have laminate or hardwood, use a floor cleaner and when it dries, a no-slip floor polish. Make sure you do this in advance of any showings or open houses – you don’t want the house to smell like the cleaning isle of your grocery store. Speaking of which…
2. Destroy Offensive Odors
This one’s tough to judge. Often, we get so used to the smell of our own homes, we can’t be objective anymore. Enlist the help of a friend (your REALTOR is a good choice) who you’re sure will give you an honest evaluation. Here are some common sources of home odors and ways to combat them: Pets: keep the litter box/bird cage/pet areas spotlessly clean. If you have a room that pets frequent, it might be a good candidate for some potpourri or a non-offensive air freshener. Febreeze is a great odor masker – if you have pets (especially dogs) that climb on the couch, chairs or lay on rugs or carpets, give those pieces of furniture a quick spray in advance of your open house. Food Odors: certain types of cooking can really add strong scents to your home. Make sure you keep your kitchen very clean – get rid of any grease that might have collected on your stove, hood, floors or cabinets (check up top too). Get an oven cleaner and wipe out the inside of your oven. Also, make sure any kitchen trash is disposed of promptly. Finally, if you know visitors are coming soon, refrain from cooking anything with powerful odors – take yourself out as a treat for working so hard to get your home ready for sale. Musty Smells: Often the harbinger of water problems that should be checked out, a musty smell is a big turn-off for a buyer. Certain places tend to collect this odor – basements, lower bedrooms, rec. rooms off of walk-in basements, attics or sun rooms. You can try to reduce this by using a de-humidifier regularly (if you own one) in the problem location for a few weeks before any showing. Carpets often collect this odor – make sure you steam clean them (see above). Also, this might be a good candidate for a non-offensive air freshener. If you suspect there is a water problem, get it checked out by a professional.
Just a couple tips on air fresheners: less is more. Make sure you don’t overpower your buyers with air fresheners. This often raises their suspicion that something is being covered up even if there is no real reason for them to be suspicious. Try to use non-offensive odors – lavender, chamomile, light citrus – heavy scents like pine, rose or heavy citrus can be a real turn-off. There is also a good option that I’ll discuss in my last tip of this guide.
3. Fix and Touch Up Walls
Just a few minutes with some spackle, a bit of light sanding and a couple dabs of touch-up paint can repair that hole in the wall from when you bumped it moving furniture, those expansion cracks, nail pops or other wall blemishes, even if you have no repair skills. It just has to look decent, not perfect. Stick down any drywall tape that’s peeling with some spackle and touch up – it tends to be rather unsightly and is easy to notice. Oh, and….
4. Should I Paint Entire Rooms?
It depends. If you have the time to do it yourself or if things look really bad, painting can be a great enhancement. Plus, if you do it yourself, it can be done fairly cheaply. Try to rent a paint sprayer at your local rental store – you’ll be amazed at how easy it is. Strong colors are often an issue with many buyers. You may love pumpkin orange in the family room, but will they? Neutral colors are the best – remember you’re selling this house – you can paint your new one whatever colors you want, but you have to maximize your home’s appeal to as many buyers as possible. Trust me, stick with neutrals here. If there are sections of your home that you feel could really use a new coat, use your judgment. Just remember – more for less.
5. Remove Personal Touches
You want your buyers to identify with your home – to see themselves living there. One thing that distracts from this is seeing a picture of your family every time they turn around. I know it might be sad to see all the pictures come down, but it needs to happen. Just think of this as part of the packing process. It’s also a good time to take all of the homework, pictures and drawings that your children have done off of the fridge or walls.
6. De-clutter Your Way to a Sale
Keep your home neat and tidy for visitors. This is one of the toughest things about having your home on the market – the feeling that your home always needs to be at its best. Even a little can go a long way here. Make sure toys are picked up and put away, home office spaces are kept neat and tidy, storage is stacked in an orderly fashion, laundry is put away, workshop organized, the kitchen is in order and all of those hundred other things you do when company is coming over. A neat home inspires feelings of peace and order in buyers – both good things.
7. Open up the Home
There are a few easy things you can do and a few more difficult things – the good news is that all of them don’t cost much. One of the biggest transformations that happens on those TV home makeover shows occurs when furniture is rearranged to create the impression of more space. Take a critical look at each room in your house – if you have the time, move the furniture around a bit – see if one position is more spacious than another. If you have a digital camera, take pictures and compare them side-by-side. Another option is remove furniture altogether. This is a great idea because not only will it make the house feel more open, but it will give you a jump on packing. I would suggest moving the furniture completely out of the house – perhaps rent an offsite storage area or if this isn’t possible, store all removed items neatly on one side of the garage. Some buyers don’t even look in the garage and if they do, better to have one room full of stuff than the entire home. The final thing is to leave all of the curtains pulled back – this makes a room look more “breezy” and the additional natural light is always a plus.
8. Clean, Clean, Clean
This is a very useful selling tactic, so you really can’t get away with not doing it. Keep those carpets freshly vacuumed, counters wiped down, kitchen cleaned top to bottom (the kitchen is the most important room to many buyers), bathroom completely spic and span (bathroom is often the second most important room to many buyers) and everything dusted. A few other tips – clean the bugs out of the light fixtures – they are a big “YUCK!” Give any woodwork a once-over with some furniture polish and clean those window sills and panes. Make sure you keep all dishes washed and off the counter – dirty dishes are a big turn off. Also, make sure all your closets are organized and neat – buyers will be looking through them to get an idea of storage space – be prepared!
9. Windows and Doors
Surprisingly, this is fairly high on a buyer’s annoyance factor. A sticky or noisy door will make any buyer stop a second and go “hmmm”. The good news is that this is an easy fix – a can of WD-40 takes care of the creaks and for those sticky doors, buy a bar of paraffin wax (found in the canning area of your grocery store) and rub it a bit on the area of the door that looks worn. For windows, make sure they open easily – start by cleaning the tracks – often you will find lots of dirt and grime that prevent the window from opening cleanly. If this doesn’t do the trick, try some WD-40 or a little paraffin wax here too.
10. Prepare the Home for Showing
Our goal here is to make the home as bright and “homey” as possible. There are a few selling tricks that you can use that will really establish this environment. - Bake something – cookies are a good option – toll house is fine – just don’t burn them. We’re going for the aromas here. Freshly baked cookie smell is like expensive perfume to home buyers. - Offer cookies (works out well with the above), or in the summer, cold bottled water. Buyers like these personal touches and they will subconsciously raise their opinions of your home. - Open all the curtains and turn on all the lights – you want your home to feel breezy, bright and open. Change any bulbs that are out. If it’s winter and you have one, light the fireplace. - Set the table as if you were going to have a nice meal with company. You want to sell your dining room as an entertaining space and place settings help build this impression. - Turn on some light music – nothing offensive – smooth jazz is a good option. Keep the volume low – in the background. - This one is vital: remove any small valuables from sight. I’d like to think that all home buyers are always on their best behaviors, but sometimes this isn’t the case – better to be safe than sorry. - The most important thing you can remove from your home to help it sell is yourselves. Take your family out for the day or out for a few hours during the open house/showing. Usually, when a homeowner is present for an open house, it never goes as well – the buyers always feel like they’re imposing, and that’s not what you want. You want them to spend time in your home.
In many cases, a buyer’s decision to make an offer on your home will not come down to any one factor. Think of it as two cups sitting on the counter – one is labeled “YEA!” and one is labeled “YUCK!” As the buyer tours your home, features will either do nothing (every house is supposed to have certain things – they are expected) or will add to one of these two cups. At the end of the showing, if your “YEA!” cup is full and the “YUCK!” is nearly empty, generally you will attract an offer. If it’s the other way around, the buyer moves on. Our goal here is to reduce the number of things that fill the “YUCK!” cup. I know many of these things seem like small details, but they add up in surprising ways. There will always be a few things that buyers don’t like about your home – these are unavoidable – there is no “perfect” house. But all we’re looking for is a majority of the buyer’s experiences to be “YEA!” If you can do this (and we think you can), you’re on your way to selling your home.
http://www.amazines.com/Real_Estate/article_detail.cfm/220026?articleid=220026
Commercial or residential Property in India
With the pace of time Indian real estate market is emerging as one of most lucrative options for investment in the world markets.
Since the amount of investment is large, the investors first want to know about the credential of developers and the number of project developed by them before taking investment decision. A large number of NRIs, besides motive of investment, want to buy residential property in India or buy commercial property in India as the growing economy of India also offers huge opportunities.
According to the statement of an IT professional, India is also offering very bright and challenging prospects equivalent to any other world class universities and that is why the NRIs elite group is in no mood to stay abroad and anxious to come back to India.
The present worth of real estate is around $ 16 billion and may reach approx. $60 billion by 2010. Needless to mention heavy-weight investors from across the world may also enter in the fields of real estate and infrastructure.
The main factor behind the rapid growth of real estate has been the boom in IT and ITES industry. It is expected that the industries would employ around four million people by 2010 which will considerably increase India’s GDP as well as foreign exchange inflow in future.
The other factors, which boost the real estate and infrastructure development in real estate India , are that generally acceptable English language is widely spoken here and talent pool is unlimited as the country churns out around 15 million graduates every year. As compared to U.S, the man power cost is also cheaper in India by 10 – 14%.
As per the recent survey, only one quarter of Indian population lives in urban areas whereas China’s ratio is 40% and that of Eastern Europe is two-third. Urbanization in India is still far from over and government is promoting smaller as well as new cities at a faster pace and thus provides a safe heaven for investment in real estate (particularly Delhi & NCR) to the buyers throughout the world.
http://www.amazines.com/Real_Estate/article_detail.cfm/220156?articleid=220156
Since the amount of investment is large, the investors first want to know about the credential of developers and the number of project developed by them before taking investment decision. A large number of NRIs, besides motive of investment, want to buy residential property in India or buy commercial property in India as the growing economy of India also offers huge opportunities.
According to the statement of an IT professional, India is also offering very bright and challenging prospects equivalent to any other world class universities and that is why the NRIs elite group is in no mood to stay abroad and anxious to come back to India.
The present worth of real estate is around $ 16 billion and may reach approx. $60 billion by 2010. Needless to mention heavy-weight investors from across the world may also enter in the fields of real estate and infrastructure.
The main factor behind the rapid growth of real estate has been the boom in IT and ITES industry. It is expected that the industries would employ around four million people by 2010 which will considerably increase India’s GDP as well as foreign exchange inflow in future.
The other factors, which boost the real estate and infrastructure development in real estate India , are that generally acceptable English language is widely spoken here and talent pool is unlimited as the country churns out around 15 million graduates every year. As compared to U.S, the man power cost is also cheaper in India by 10 – 14%.
As per the recent survey, only one quarter of Indian population lives in urban areas whereas China’s ratio is 40% and that of Eastern Europe is two-third. Urbanization in India is still far from over and government is promoting smaller as well as new cities at a faster pace and thus provides a safe heaven for investment in real estate (particularly Delhi & NCR) to the buyers throughout the world.
http://www.amazines.com/Real_Estate/article_detail.cfm/220156?articleid=220156
Referral Fees From Real Estate Agents?
By getting referral fees from real estate agents, you can make money in real estate without any cash investment. You may not make much. But if you have no cash to invest, this is a way to get an education and make a little money.
Laws vary from state to state, but in most states there is some legal way for a real estate agent to reward you for finding a buyer or a seller. There may be a limit to what the law allows, so find out. It isn't worth your time if it is $50.
This can be a nice sideline if you know a lot of people and are a natural sales person. If you can get an average of $300 for a referral, and find a buyer or seller for an agent or two a few times each month, you can start to build up cash for investing.
You will most likely only get paid when a sale is complete, and the agent has received her commission. That is only fair. Just be clear on what the arrangement is, and whether the agent minds if you also refer buyers and sellers to other agents. This latter point can be important, because you will find that you can be most helpful to people by matching them up with the right agent for their needs (some agents sell mostly houses, other land, and so on).
Get a small stack of cards from each agent that you plan to promote. Keep these handy, and write your name on the back of each. When you hear that a friend, acquaintance or anyone around you is looking to buy or sell real estate, tell them all about the agent that is best for them. Ask them if you want to tell your friend the agent to call them, with no obligation, of course.
If they are interested, call the agent and pass on the name and phone number. Keep a record for yourself as well, so you can later check to see if the person bought or sold something through the agent. You might also distribute the cards with "Tell him that (your name) sent you," written on the back of each.
You may make a little money on those referral fees, and you will help some people out. You will also find that you get educated as to what people are looking for. This can help you with your own investing later.
Copyright Steve Gillman. For a Free Real Estate Investing Course, and to see a photo of the home we bought for $17,500, visit: http://www.HousesUnderFiftyThousand.com
http://www.amazines.com/Real_Estate/article_detail.cfm/220250?articleid=220250
Laws vary from state to state, but in most states there is some legal way for a real estate agent to reward you for finding a buyer or a seller. There may be a limit to what the law allows, so find out. It isn't worth your time if it is $50.
This can be a nice sideline if you know a lot of people and are a natural sales person. If you can get an average of $300 for a referral, and find a buyer or seller for an agent or two a few times each month, you can start to build up cash for investing.
You will most likely only get paid when a sale is complete, and the agent has received her commission. That is only fair. Just be clear on what the arrangement is, and whether the agent minds if you also refer buyers and sellers to other agents. This latter point can be important, because you will find that you can be most helpful to people by matching them up with the right agent for their needs (some agents sell mostly houses, other land, and so on).
Get a small stack of cards from each agent that you plan to promote. Keep these handy, and write your name on the back of each. When you hear that a friend, acquaintance or anyone around you is looking to buy or sell real estate, tell them all about the agent that is best for them. Ask them if you want to tell your friend the agent to call them, with no obligation, of course.
If they are interested, call the agent and pass on the name and phone number. Keep a record for yourself as well, so you can later check to see if the person bought or sold something through the agent. You might also distribute the cards with "Tell him that (your name) sent you," written on the back of each.
You may make a little money on those referral fees, and you will help some people out. You will also find that you get educated as to what people are looking for. This can help you with your own investing later.
Copyright Steve Gillman. For a Free Real Estate Investing Course, and to see a photo of the home we bought for $17,500, visit: http://www.HousesUnderFiftyThousand.com
http://www.amazines.com/Real_Estate/article_detail.cfm/220250?articleid=220250
Commercial Real Estate Loan Myth Debunked
There is a metaphorical place in any business when the seeker of inside secrets reaches that signpost that says something like: “Beewair … Theyre bee Dragyns ahed.” Again, keep in mind I am being highly metaphorical, but I’ve been asked a number of times about a certain type of commercial real estate financing that makes me begin to suspect that someone is out there selling investment property “treasure maps” for $5.00 each! And you know just how much treasure you will find following such a map. So as a professional commercial real estate loan broker, I am here to set the record straight:
NO LENDER offers a 100% Loan to Value commercial real estate loan. And I define “lender” to mean a source of capital that provides debt financing, secured by real property.
So for all of you seeking that 20% Seller Carry and the 80% purchase money loan on a property you think is worth three times the purchase price … please, join us back here in reality. If pigs had wings, they would fly. So, if a lender was willing to allow you to purchase a property on those terms, why would they need you? They would make a whole lot more money doing the transaction themselves!
Here is the reality concerning commercial real estate from a lender’s perspective: Commercial real estate is considered an investment, not a basic need, such as a roof over your head. Because investment real estate is “secondary” to a borrower’s personal residence, it is usually considered a higher risk loan.
Why?
If the fit hits the shan in a borrower’s personal life and money becomes tight, lender’s conventional wisdom says that the borrower will shift his resources to protect his personal residence ahead of his commercial investments. This may not seem immediately apparent when you look at the spread between home loan rates and Wall Street conduit rates (these commercial rates are actually lower than most residential ones). However, you need to check the terms to see the difference.
You can still by a primary residence with no money down and good credit. You can not purchase a commercial property without some form of equity investment. In most cases, the commercial lender wants to see a minimum of 15% equity in the deal, although you can find some that will allow 10% provided the property meets minimum debt service requirements. But good luck finding that situation in most good markets. Oh, and very few commercial loans go full term like residential loans (yes, I know that there are exceptions). Most are balloons at 10 years.
Yes, you can engage a mezzanine lender to fund almost all of the equity difference, but you are really going to pay for it either in points and rate or in some form of equity kicker … which takes us away from my definition of lender. And mezzanine lenders don’t make loans on the property itself … which is a whole other story.
Thus, it bears repeating: There are no 100% LTV commercial loan programs! Commercial real estate is for serious investors with equity to risk, a positive net worth, and an asset that a lender would feel comfortable encumbering. So the next time someone approaches you with a map to a pot of commercial real estate loan “gold” … save your money for a latte at Starbucks!
WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete statement with it: ‘“The Investment Property Insider” is published by Craig S. Higdon, a veteran commercial mortgage broker. He publishes the weekly e-zine and blog, www.InvestmentPropertyInsider.com, for commercial real estate investors, developers, and industry professionals. Visit the blog and get this free report: “The 7 Biggest Loan Mistakes Real Estate Investors make and How to avoid them.”‘
http://www.amazines.com/Real_Estate/article_detail.cfm/220314?articleid=220314
NO LENDER offers a 100% Loan to Value commercial real estate loan. And I define “lender” to mean a source of capital that provides debt financing, secured by real property.
So for all of you seeking that 20% Seller Carry and the 80% purchase money loan on a property you think is worth three times the purchase price … please, join us back here in reality. If pigs had wings, they would fly. So, if a lender was willing to allow you to purchase a property on those terms, why would they need you? They would make a whole lot more money doing the transaction themselves!
Here is the reality concerning commercial real estate from a lender’s perspective: Commercial real estate is considered an investment, not a basic need, such as a roof over your head. Because investment real estate is “secondary” to a borrower’s personal residence, it is usually considered a higher risk loan.
Why?
If the fit hits the shan in a borrower’s personal life and money becomes tight, lender’s conventional wisdom says that the borrower will shift his resources to protect his personal residence ahead of his commercial investments. This may not seem immediately apparent when you look at the spread between home loan rates and Wall Street conduit rates (these commercial rates are actually lower than most residential ones). However, you need to check the terms to see the difference.
You can still by a primary residence with no money down and good credit. You can not purchase a commercial property without some form of equity investment. In most cases, the commercial lender wants to see a minimum of 15% equity in the deal, although you can find some that will allow 10% provided the property meets minimum debt service requirements. But good luck finding that situation in most good markets. Oh, and very few commercial loans go full term like residential loans (yes, I know that there are exceptions). Most are balloons at 10 years.
Yes, you can engage a mezzanine lender to fund almost all of the equity difference, but you are really going to pay for it either in points and rate or in some form of equity kicker … which takes us away from my definition of lender. And mezzanine lenders don’t make loans on the property itself … which is a whole other story.
Thus, it bears repeating: There are no 100% LTV commercial loan programs! Commercial real estate is for serious investors with equity to risk, a positive net worth, and an asset that a lender would feel comfortable encumbering. So the next time someone approaches you with a map to a pot of commercial real estate loan “gold” … save your money for a latte at Starbucks!
WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete statement with it: ‘“The Investment Property Insider” is published by Craig S. Higdon, a veteran commercial mortgage broker. He publishes the weekly e-zine and blog, www.InvestmentPropertyInsider.com, for commercial real estate investors, developers, and industry professionals. Visit the blog and get this free report: “The 7 Biggest Loan Mistakes Real Estate Investors make and How to avoid them.”‘
http://www.amazines.com/Real_Estate/article_detail.cfm/220314?articleid=220314
Arizona Real Estate and Title Companies
A title company plays a tremendous role in Real Estate transactions in Arizona when discussing buying or selling property. They are the ones in charge of all of the monies handled between the buyer, seller, Brokers, and Realtors. They are in charge of transferring the title of a home from one party to another. Title companies are the ones who put the property in your name.
A Realtors first step after getting an excepted contract in Arizona is to open escrow with the title company. The buyer and seller agree in the purchase contract who the title company is going to be. Once this is determined, it is usually the buyers Realtor who opens escrow because the buyer is the one putting up earnest money to be lost in case the contract is breached.
Opening escrow means, delivering an excepted purchase contract with the buyers earnest money to the title company. Once this is done, escrow is opened, and that is the beginning of the purchase contract.
Title companies in Arizona are the ones who receive the money from the buyer or the buyers lender to give to the seller and/or payoff the sellers lender. The seller must provide who their current mortgage is through so that the title company can pay off the balance of your loan. After the loan is paid off, and the closing costs, the seller gets what is left over which is called the sellers proceeds. However, if a the person selling has no mortgage there is nothing to pay off except closing costs.
There is paperwork that the buyer and the seller need to sign in order to successfully complete a Real Estate purchase contract. The title company organizes the paper work in an orderly fashion, and has both the buyer and the seller come to the office to sign. Once all paper work is signed by both parties, the title company delivers the paperwork to the bank that is funding the loan. The bank which the buyers lender obtained a loan for the buyer, wires the money to the title company. This is when all monies are dispersed to the appropriate party. The title company gets the money from the lender, then delivers the money to pay the Realtors, the Loan Officers (if applicable), the seller, and any other party that requires compensation for being a part of the sale. Of course, the title company takes a cut. Usually the closing costs are split between the buyer and seller depending on the terms of the contract.
A title company is the battery of the operation, the hub. With out their organization there would be too much confusion. If you do not know a good title company to use when purchasing or selling Real Estate in Arizona, please ask a qualified professional Realtor to suggest one. The title company deals with every person involved in the transaction. It is important that a title company has organization, and great communication skills. A good title company will notify the appropriate party when something may be wrong so that it may be fixed by the right person.
It is important to develop a relationship with a good title company. Once a relationship is built, you begin to know how each works, making the job a little easier. You will know the title companies phone numbers, names, fax numbers, and e-mail addresses by heart. If you are always using a different title company, it is a new set of information to learn.
Website: http://www.nicholasmcconnell.com
http://www.amazines.com/Real_Estate/article_detail.cfm/220337?articleid=220337
A Realtors first step after getting an excepted contract in Arizona is to open escrow with the title company. The buyer and seller agree in the purchase contract who the title company is going to be. Once this is determined, it is usually the buyers Realtor who opens escrow because the buyer is the one putting up earnest money to be lost in case the contract is breached.
Opening escrow means, delivering an excepted purchase contract with the buyers earnest money to the title company. Once this is done, escrow is opened, and that is the beginning of the purchase contract.
Title companies in Arizona are the ones who receive the money from the buyer or the buyers lender to give to the seller and/or payoff the sellers lender. The seller must provide who their current mortgage is through so that the title company can pay off the balance of your loan. After the loan is paid off, and the closing costs, the seller gets what is left over which is called the sellers proceeds. However, if a the person selling has no mortgage there is nothing to pay off except closing costs.
There is paperwork that the buyer and the seller need to sign in order to successfully complete a Real Estate purchase contract. The title company organizes the paper work in an orderly fashion, and has both the buyer and the seller come to the office to sign. Once all paper work is signed by both parties, the title company delivers the paperwork to the bank that is funding the loan. The bank which the buyers lender obtained a loan for the buyer, wires the money to the title company. This is when all monies are dispersed to the appropriate party. The title company gets the money from the lender, then delivers the money to pay the Realtors, the Loan Officers (if applicable), the seller, and any other party that requires compensation for being a part of the sale. Of course, the title company takes a cut. Usually the closing costs are split between the buyer and seller depending on the terms of the contract.
A title company is the battery of the operation, the hub. With out their organization there would be too much confusion. If you do not know a good title company to use when purchasing or selling Real Estate in Arizona, please ask a qualified professional Realtor to suggest one. The title company deals with every person involved in the transaction. It is important that a title company has organization, and great communication skills. A good title company will notify the appropriate party when something may be wrong so that it may be fixed by the right person.
It is important to develop a relationship with a good title company. Once a relationship is built, you begin to know how each works, making the job a little easier. You will know the title companies phone numbers, names, fax numbers, and e-mail addresses by heart. If you are always using a different title company, it is a new set of information to learn.
Website: http://www.nicholasmcconnell.com
http://www.amazines.com/Real_Estate/article_detail.cfm/220337?articleid=220337
Best Times to Buy & Sell Real Estate
Properly timing the sale of your home could mean tens of thousands of extra dollars in your pockets. Real estate, like many industries has cyclical periods that could have serious effects on buyers and sellers. As strange as it may sound, you can approach the real estate market like a farmer would consider his activities.
We can very easily identify the 4 seasons of spring, summer fall and winter in real estate. Lets use an investment property as an example and assuming that you want to be in the game for a long period of time.
A farmer would typically plant in the spring and harvest in the fall. Plan in the winter and tend in the summer. So how does this relate to real estate?
Real estate cycles don’t necessarily reflect the temperature outside or a particular calendar month. It illustrates the fact that prices don’t go up in a linear motion and there are months or years when prices increase more or less.
Just like a farmer would read books and educate himself about different products in the winter a real estate investor’s job is to take courses, learn new strategies, etc. when prices aren’t increasing at all.
When real estate prices start to rise, investors need to start purchasing or planting their seeds as a farmer would do the same.
Summer is the best cycle to be in either as a farmer or as an investor. When prices are still continuing to grow we need to look after our real estate portfolios. Sometimes we have to complete smaller renovations at our properties, find new tenants etc. At the end of the day our whole purpose is to manage our investments and make sure that our investment will be in great shape for harvest when it’s time to sell.
Fall, this is the most exciting time out of all 4 seasons. Lets rake in the profits! If you are a wine lover, you know that the sweetest wine comes from a late harvest. However the people producing the wine are sometimes risking all year’s work in case of an early frost. To determine the best time to sell, you really need to be on top of your game. I always recommend selling before everyone else does. Never wait to get out at the very top, leave something on the table for someone else to be greedy. To determine when it is the right time to sell, you need to be able to do your own due diligence about what’s driving the real estate industry.
Far too often, we listen to daily news and we only base our decisions on the short term outlook. Not that long ago, I read a newspaper article about our former Premier, Ralph Klein. In that article I was surprised to find out that he never reads the newspaper because he doesn’t care much about the daily news. He rather do his own research from an independent source who has no interest in providing bios information.
What if you aren’t looking at real estate as an investment? Rather you just want to decide what is the best time to sell your principal residence?
July, August, December and early January are usually the best times to buy. The reasons have to do with prices softening during these months and less buyers to compete with as most have taken a break from the market to go on vacation or they have committed themselves to some family time with holidays or recently succeeded in buying their home in the spring or fall.
Another reason these months can be good for buying pertains to the cycle of price increases--often in September (the fall market) and early spring (the spring market) the prices go up in our appreciating market. Just waiting an extra few weeks at certain times such as mid-August or early January can cost one 5-10% on their home purchase. Paying tens of thousand of dollars extra is an insane amount of money for waiting a few weeks longer for what one was planning on doing anyway when it was more convenient just because you waited an extra month.
Usually the increase in the fall is less than the one in the spring but several percent on a $500,000 house is very significant. If one is going to buy... it's non-sense to do it several weeks late and spending $10,000s of extra for the same property. In the fall the buyers come back to the market again as they get into their routines--kids going to school, working, vacation planning and a whole new set of buyers that are just starting with the hopes of being in a new home by the end of the year.
For sellers, the worst time of the year to sell are the months listed above that are the best time for buyers to purchase. Sellers listing in July/August/late Nov/Dec/Jan/early February are not going to get the highest dollar for their house. List at the time the demand is highest and when inventory takes a dip.
It pays off to think ahead a little bit and plan your moves in advance. Remember, just like a farmer knows when to spend time to educate himself, plant the seed and bring in the harvest. If you do the same, chances are good that you will maximize your profit.
Posted by www.JoeSamson.com
Professionalism Joe Samson is an Alberta based real estate professional and licensed member of the Real Estate Council of Alberta - Proudly representing MaxWell Canyon Creek Realty. Joe began building his personal real estate career in 2000 and hasn't looked back since. Using unique real estate strategies he managed to help countless clients of his to become on route to be financially independent and happy home owners.
At that time, Joe worked as a Project Manager for a major International gas compression manufacturer. After regular business hours Joe managed to dedicate a large amount of his time to his passion - Real Estate. Joe spent countless hours educating himself of "how to buy, where to buy and what to buy" while minimizing risks and maximizing returns. Then he took that knowledge and began working with clients who were interested in purchasing revenue-producing real estate using his own unique strategies. Over the years, Joe has dramatically increased his personal net worth, along with that of many of his clients.
Article Source: http://EzineArticles.com/?expert=Joeseph_Samson
We can very easily identify the 4 seasons of spring, summer fall and winter in real estate. Lets use an investment property as an example and assuming that you want to be in the game for a long period of time.
A farmer would typically plant in the spring and harvest in the fall. Plan in the winter and tend in the summer. So how does this relate to real estate?
Real estate cycles don’t necessarily reflect the temperature outside or a particular calendar month. It illustrates the fact that prices don’t go up in a linear motion and there are months or years when prices increase more or less.
Just like a farmer would read books and educate himself about different products in the winter a real estate investor’s job is to take courses, learn new strategies, etc. when prices aren’t increasing at all.
When real estate prices start to rise, investors need to start purchasing or planting their seeds as a farmer would do the same.
Summer is the best cycle to be in either as a farmer or as an investor. When prices are still continuing to grow we need to look after our real estate portfolios. Sometimes we have to complete smaller renovations at our properties, find new tenants etc. At the end of the day our whole purpose is to manage our investments and make sure that our investment will be in great shape for harvest when it’s time to sell.
Fall, this is the most exciting time out of all 4 seasons. Lets rake in the profits! If you are a wine lover, you know that the sweetest wine comes from a late harvest. However the people producing the wine are sometimes risking all year’s work in case of an early frost. To determine the best time to sell, you really need to be on top of your game. I always recommend selling before everyone else does. Never wait to get out at the very top, leave something on the table for someone else to be greedy. To determine when it is the right time to sell, you need to be able to do your own due diligence about what’s driving the real estate industry.
Far too often, we listen to daily news and we only base our decisions on the short term outlook. Not that long ago, I read a newspaper article about our former Premier, Ralph Klein. In that article I was surprised to find out that he never reads the newspaper because he doesn’t care much about the daily news. He rather do his own research from an independent source who has no interest in providing bios information.
What if you aren’t looking at real estate as an investment? Rather you just want to decide what is the best time to sell your principal residence?
July, August, December and early January are usually the best times to buy. The reasons have to do with prices softening during these months and less buyers to compete with as most have taken a break from the market to go on vacation or they have committed themselves to some family time with holidays or recently succeeded in buying their home in the spring or fall.
Another reason these months can be good for buying pertains to the cycle of price increases--often in September (the fall market) and early spring (the spring market) the prices go up in our appreciating market. Just waiting an extra few weeks at certain times such as mid-August or early January can cost one 5-10% on their home purchase. Paying tens of thousand of dollars extra is an insane amount of money for waiting a few weeks longer for what one was planning on doing anyway when it was more convenient just because you waited an extra month.
Usually the increase in the fall is less than the one in the spring but several percent on a $500,000 house is very significant. If one is going to buy... it's non-sense to do it several weeks late and spending $10,000s of extra for the same property. In the fall the buyers come back to the market again as they get into their routines--kids going to school, working, vacation planning and a whole new set of buyers that are just starting with the hopes of being in a new home by the end of the year.
For sellers, the worst time of the year to sell are the months listed above that are the best time for buyers to purchase. Sellers listing in July/August/late Nov/Dec/Jan/early February are not going to get the highest dollar for their house. List at the time the demand is highest and when inventory takes a dip.
It pays off to think ahead a little bit and plan your moves in advance. Remember, just like a farmer knows when to spend time to educate himself, plant the seed and bring in the harvest. If you do the same, chances are good that you will maximize your profit.
Posted by www.JoeSamson.com
Professionalism Joe Samson is an Alberta based real estate professional and licensed member of the Real Estate Council of Alberta - Proudly representing MaxWell Canyon Creek Realty. Joe began building his personal real estate career in 2000 and hasn't looked back since. Using unique real estate strategies he managed to help countless clients of his to become on route to be financially independent and happy home owners.
At that time, Joe worked as a Project Manager for a major International gas compression manufacturer. After regular business hours Joe managed to dedicate a large amount of his time to his passion - Real Estate. Joe spent countless hours educating himself of "how to buy, where to buy and what to buy" while minimizing risks and maximizing returns. Then he took that knowledge and began working with clients who were interested in purchasing revenue-producing real estate using his own unique strategies. Over the years, Joe has dramatically increased his personal net worth, along with that of many of his clients.
Article Source: http://EzineArticles.com/?expert=Joeseph_Samson
Famous Skyscrapers
Architectural design has advanced to a phenomenal stage where every modern city would like to boast having one of the tallest buildings. While criteria defining the tallest buildings or skyscrapers differ widely, listed below are the ten most popular architectural marvels of our time.
Empire State Building
A world famous New York City landmark and sky scaper, it rises above the island of Manhattan, about a quarter of a mile into the sky. The observatory is located on the 86th floor, 1050 feet above the ground and offers the most breathtaking and panoramic view of Manhattan and beyond from within a glass enclosed pavilion. Besides the observatory there are several tourist attractions, including, restaurants, shops and banks. It also has a New York SKYRIDE an independently owned and operated simulated helicopter ride and virtual-reality movie theatre. William Lamb, an architect at Shreve, Lamb and Harmon was chosen to design the Empire State Building in 1930
Petronas Towers
Petronas Twin Towers in Kuala Lampur lay claim to being the tallest twin towers of the 20th century, standing at a height of 1483 feet. They were designed by architect Cesar Pelli and completed in 1998. The 88-floor towers are constructed largely of reinforced concrete, with a steel and glass facade designed to resemble motifs found in Islamic art, a reflection of Malaysia's Muslim religion. The towers feature a sky-bridge between the towers on the 41st and 42nd floors which is 170m high and 58m long.
Sears Tower
Architect Bruce Graham designed the Sears Tower of Chicago in 1974. At 1450 feet, and 110 stories, it is the tallest building in the United States of America. The construction system consists of steel fram with bronze tinted glass curtain wall. The Sears Tower Skydeck observation deck and tourist attraction is on the 103rd floor, 1353 feet above the ground.
Bank of China Tower
Located in Honk Kong, in addition to being one of the famous skyscrapers in the world, it is one of the most outstanding achievements of modern architecture. The construction was started in 1985 and completed in five years by the architects I. M. Pei & Partners and Sherman Kung & Associates. The building standing at 1205 feet, is a grouping of four triangular glass and aluminium towers of different heights, all emerging from a single granite podium. The changes rising from a square base to a single spire results in a magnificent faзade of angles and profiles that reflect the light and seem almost crystalline in composition. On the 42nd floor is a sky-deck providing a panoramic view of the northwest Hong Kong.
Chrysler Building
Rising at 1046 feet, it was considered to be an engineering marvel and the tallest building in 1931. However, it still remains the tallest brick building in the world. The tower is a beautifully tapered stainless steel crown supporting the famous spire at its peak. A quintessence of skyscraper design, the Chrysler Building is a perfect example of Art Deco and has a lobby clad in different marble, onyx and amber.
Taipei 101
At a height of 1671 feet, this high-rise building has surpassed all to become the tallest skyscraper today. Taipei 101 holds the world record in three of the Council on Tall Buildings and Urban Habitat's height categories: tallest to the structural top, tallest to the roof, and highest occupied floor. The 89th floor has an indoor observation area while the 91st floor has an outdoor observation deck, known as the highest in the world. The pagoda shaped design of this building is inspired by traditional Chinese architecture. The sectioned tower is also symbolic of the bamboo plant characterizing strength, resilience and elegance. The tower’s design specifications are based on the number 8, considered lucky in the Chinese culture.
Jin Mao Building
This building in Shanghai symbolizes the progress and advancement made by the Chinese. It boasts of being the first tallest sky scrape in the country and the third tallest in the world. A great blend of East-West architecture it denotes aptly the emergence of Shanghai as a modern global city. It follows the versatility model by offering retail at it base, offices above and the Grand Hyatt’s World’s highest Hotel occupying the upper 38 floors. The magnificently designed building combines the elements of traditional Chinese architecture and a vastly Gothic influence.
Burj Al Arab
The Burj Al Arab rises to a level of 1053 feet, and is known as one of the world’s tallest structure with a membrane faзade, 24-meter wide helipad. This is the tallest operating hotel building in the world and the design is influenced by the profile of an Arabian sailing ship. The Al Muntaha restaurant is located 200 meters above the Persian Gulf offering a panoramic view of Dubai while the atrium is situated at a height of 180 meters.
CN Tower
At a height of 1815 feet, the CN Tower in Toronto is the tallest building and freestanding structure in the world. It is considered to be the signature icon of the city and hosts almost two million visitors a year. The view from the exterior glass floored observation deck located 342 meters above ground is breathtaking as it is exciting. It also has the Space Deck at 447 meters, the world’s tallest observation deck with a 160 km view and the revolving 360 Degree Restaurant.
Hancock Place
A reflective obelisk sky scrape at Boston is an architectural marvel. It is regarded as ‘icily magnificent’ wherein the surface changes as the day changes, each side reflecting the color of the sky it faces. Moreover, this dramatic effect is highlighted by the parallelogram shape of the prism, which provides uniquely differing reflections on adjoining surfaces.
The architectural buildings mentioned above are famous creations and literally considered architectural works of art today.
William Brister - http://www.architecturaldesign.tv - All about architecture
Article Source: http://EzineArticles.com/?expert=William_Brister
Empire State Building
A world famous New York City landmark and sky scaper, it rises above the island of Manhattan, about a quarter of a mile into the sky. The observatory is located on the 86th floor, 1050 feet above the ground and offers the most breathtaking and panoramic view of Manhattan and beyond from within a glass enclosed pavilion. Besides the observatory there are several tourist attractions, including, restaurants, shops and banks. It also has a New York SKYRIDE an independently owned and operated simulated helicopter ride and virtual-reality movie theatre. William Lamb, an architect at Shreve, Lamb and Harmon was chosen to design the Empire State Building in 1930
Petronas Towers
Petronas Twin Towers in Kuala Lampur lay claim to being the tallest twin towers of the 20th century, standing at a height of 1483 feet. They were designed by architect Cesar Pelli and completed in 1998. The 88-floor towers are constructed largely of reinforced concrete, with a steel and glass facade designed to resemble motifs found in Islamic art, a reflection of Malaysia's Muslim religion. The towers feature a sky-bridge between the towers on the 41st and 42nd floors which is 170m high and 58m long.
Sears Tower
Architect Bruce Graham designed the Sears Tower of Chicago in 1974. At 1450 feet, and 110 stories, it is the tallest building in the United States of America. The construction system consists of steel fram with bronze tinted glass curtain wall. The Sears Tower Skydeck observation deck and tourist attraction is on the 103rd floor, 1353 feet above the ground.
Bank of China Tower
Located in Honk Kong, in addition to being one of the famous skyscrapers in the world, it is one of the most outstanding achievements of modern architecture. The construction was started in 1985 and completed in five years by the architects I. M. Pei & Partners and Sherman Kung & Associates. The building standing at 1205 feet, is a grouping of four triangular glass and aluminium towers of different heights, all emerging from a single granite podium. The changes rising from a square base to a single spire results in a magnificent faзade of angles and profiles that reflect the light and seem almost crystalline in composition. On the 42nd floor is a sky-deck providing a panoramic view of the northwest Hong Kong.
Chrysler Building
Rising at 1046 feet, it was considered to be an engineering marvel and the tallest building in 1931. However, it still remains the tallest brick building in the world. The tower is a beautifully tapered stainless steel crown supporting the famous spire at its peak. A quintessence of skyscraper design, the Chrysler Building is a perfect example of Art Deco and has a lobby clad in different marble, onyx and amber.
Taipei 101
At a height of 1671 feet, this high-rise building has surpassed all to become the tallest skyscraper today. Taipei 101 holds the world record in three of the Council on Tall Buildings and Urban Habitat's height categories: tallest to the structural top, tallest to the roof, and highest occupied floor. The 89th floor has an indoor observation area while the 91st floor has an outdoor observation deck, known as the highest in the world. The pagoda shaped design of this building is inspired by traditional Chinese architecture. The sectioned tower is also symbolic of the bamboo plant characterizing strength, resilience and elegance. The tower’s design specifications are based on the number 8, considered lucky in the Chinese culture.
Jin Mao Building
This building in Shanghai symbolizes the progress and advancement made by the Chinese. It boasts of being the first tallest sky scrape in the country and the third tallest in the world. A great blend of East-West architecture it denotes aptly the emergence of Shanghai as a modern global city. It follows the versatility model by offering retail at it base, offices above and the Grand Hyatt’s World’s highest Hotel occupying the upper 38 floors. The magnificently designed building combines the elements of traditional Chinese architecture and a vastly Gothic influence.
Burj Al Arab
The Burj Al Arab rises to a level of 1053 feet, and is known as one of the world’s tallest structure with a membrane faзade, 24-meter wide helipad. This is the tallest operating hotel building in the world and the design is influenced by the profile of an Arabian sailing ship. The Al Muntaha restaurant is located 200 meters above the Persian Gulf offering a panoramic view of Dubai while the atrium is situated at a height of 180 meters.
CN Tower
At a height of 1815 feet, the CN Tower in Toronto is the tallest building and freestanding structure in the world. It is considered to be the signature icon of the city and hosts almost two million visitors a year. The view from the exterior glass floored observation deck located 342 meters above ground is breathtaking as it is exciting. It also has the Space Deck at 447 meters, the world’s tallest observation deck with a 160 km view and the revolving 360 Degree Restaurant.
Hancock Place
A reflective obelisk sky scrape at Boston is an architectural marvel. It is regarded as ‘icily magnificent’ wherein the surface changes as the day changes, each side reflecting the color of the sky it faces. Moreover, this dramatic effect is highlighted by the parallelogram shape of the prism, which provides uniquely differing reflections on adjoining surfaces.
The architectural buildings mentioned above are famous creations and literally considered architectural works of art today.
William Brister - http://www.architecturaldesign.tv - All about architecture
Article Source: http://EzineArticles.com/?expert=William_Brister
Facts and Fun With Homes for Sale in Oceanside
Homes for sale in Oceanside California are the pinnacle of living the California dream. Bonfires on the beach, the relaxed San Diego atmosphere, and the gorgeous Pacific coast keep this area in constant demand. If you are looking at homes for sale in Oceanside then you need to know two things: what the facts are and where the fun is.
Facts about Homes for Sale in Oceanside
Based on the 2000 census residents in and around the homes for sale in Oceanside are estimated at a population of just over 165,000. Homes for sale in Oceanside are apparently equal opportunity employers as the population is nearly split down the middle with 49.5%male and 50.5% female. There’s fair diversity racially with homes for sale in Oceanside drawing 53.6% of its residents from non-Hispanic whites, 30.2% the Hispanic community, 6.3% is Black, and the rest is a mix of other races. The median household income is over $55,000 and the median value of homes and condos is over $500,000. Sadly 6.3% of the community surrounding homes for sale in Oceanside is in poverty conditions.
What do these facts mean for homes for sale in Oceanside? Realize that there is huge price range of homes available; but most are in the higher price ranges. It also means that the average income puts residents of homes for sale in Oceanside at a higher income than most places in the country. There is higher crime in the homes for sale in Oceanside area than you’ll find in other more affluent areas- like La Jolla or San Marcos. But it’s certainly not as bad as Ventura County. The other concern of homes for sale in Oceanside is that the commute can be a doozy. The drive from Oceanside to Del Mar can take over an hour in rush hour traffic. So it might be worthwhile to pay a higher mortgage in La Jolla or Del Mar and save your gas money and aspirin for later. Your decision.
Fun Near Homes for Sale in Oceanside
Of course, there are good reasons that the homes for sale in Oceanside are so hot. Let’s start with the shopping. Homes for sale in Oceanside are right near Interstate 5 and the Carlsbad Premium Outlets with all its shops and restaurants. Oceanside Harbor offers fun dining like the Baja Rockin’ Lobster. Visitors and residents near homes for sale in Oceanside love the historic and beautiful San Luis Rey Mission. Dudes and surf-babes of every age flock to the California Surf Museum. Finally, the Oceanside Museum of Art is open for FREE every day but Monday. Did I mention the Pacific Ocean? The bottom line is that there are some really good reasons to look at homes for sale in Oceanside California. Figuring out if the Oceanside homes are is right for you will involve looking at the homes, the amenities, and your own priorities.
John Harris is a researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit Homes for Sale in Oceanside
Article Source: http://EzineArticles.com/?expert=J_Harris
Facts about Homes for Sale in Oceanside
Based on the 2000 census residents in and around the homes for sale in Oceanside are estimated at a population of just over 165,000. Homes for sale in Oceanside are apparently equal opportunity employers as the population is nearly split down the middle with 49.5%male and 50.5% female. There’s fair diversity racially with homes for sale in Oceanside drawing 53.6% of its residents from non-Hispanic whites, 30.2% the Hispanic community, 6.3% is Black, and the rest is a mix of other races. The median household income is over $55,000 and the median value of homes and condos is over $500,000. Sadly 6.3% of the community surrounding homes for sale in Oceanside is in poverty conditions.
What do these facts mean for homes for sale in Oceanside? Realize that there is huge price range of homes available; but most are in the higher price ranges. It also means that the average income puts residents of homes for sale in Oceanside at a higher income than most places in the country. There is higher crime in the homes for sale in Oceanside area than you’ll find in other more affluent areas- like La Jolla or San Marcos. But it’s certainly not as bad as Ventura County. The other concern of homes for sale in Oceanside is that the commute can be a doozy. The drive from Oceanside to Del Mar can take over an hour in rush hour traffic. So it might be worthwhile to pay a higher mortgage in La Jolla or Del Mar and save your gas money and aspirin for later. Your decision.
Fun Near Homes for Sale in Oceanside
Of course, there are good reasons that the homes for sale in Oceanside are so hot. Let’s start with the shopping. Homes for sale in Oceanside are right near Interstate 5 and the Carlsbad Premium Outlets with all its shops and restaurants. Oceanside Harbor offers fun dining like the Baja Rockin’ Lobster. Visitors and residents near homes for sale in Oceanside love the historic and beautiful San Luis Rey Mission. Dudes and surf-babes of every age flock to the California Surf Museum. Finally, the Oceanside Museum of Art is open for FREE every day but Monday. Did I mention the Pacific Ocean? The bottom line is that there are some really good reasons to look at homes for sale in Oceanside California. Figuring out if the Oceanside homes are is right for you will involve looking at the homes, the amenities, and your own priorities.
John Harris is a researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit Homes for Sale in Oceanside
Article Source: http://EzineArticles.com/?expert=J_Harris
Real Estate Companies - Only The Strong Will Survive
One of the hardest lessons of the past decade, which has affected both homeowners and real estate companies alike, is that what goes up must come down. And it often comes down with a suddenness that leaves everyone involved with queasiness unequalled by a ride the world’s great roller coasters.
The reality of the real estate market in 21st century America is that almost everyone who wanted a home in the past five years bought one, and even those who did not want, and should not have bought one, did in the hopes of turning it over for a quick profit. Because there are so few buyers now, and because lending institutions have been saddled with so many foreclosures that they are much more careful about their lending standards, the real estate market today is the playground of qualified buyers, and no longer that of the real estate companies.
So the real estate companies have shifted to survival mode, and are looking to the buyers for guidance on where they should be focusing their development efforts. But even the lack of buyers, in some areas, has not put as much downward pressure on home prices as one might expect, simply because developable land in the most sought after locations is rapidly disappearing, and real estate companies factor the cost of their land into the final cost of their homes.
The Dilemma Of The Real Estate Companies
Real estate companies are well aware that they will never have much difficulty finding buyers for either their entry-level or high-end homes. But they are currently overloaded with homes in the middle price ranges, because they have to build them in such large numbers in order for their businesses to be cost-effective. And as long as those homes remain unoccupied, they are an enormous drain on the resources of the real estate companies.
Addressing the Issues
In order to survive with the realities of the current market, real estate companies have had to go back to the drawing board and come up with some new approaches to their business. These include both raising the quality and lowering the costs of the homes they build. They have begun by substituting materials which will add durability to their offerings for those which simply add curbside appeal, but need replacing after a few years.
Real estate companies have finally come to the realization that most of their customers intend to stay in their homes for the long haul, and are not afraid to take legal measures against a developer who shortchanges them with shoddy materials in homes built on unsafe or contaminated land.
When the current lack of confidence in the real estate market finally begins to wane, those buyers who have been waiting on the sidelines will be looking for those real estate companies who have spent the down time improving their customer relations and the quality of their products. They won’t be hard to find, either, because they’ll be the only real estate companies to have survived.
You can also find more info on Real Estate Foreclosure and Buy Real Estate Online. 1realestatehelp.com is a comprehensive resource to get information about Real Estate.
Article Source: http://EzineArticles.com/?expert=Wade_Robins
The reality of the real estate market in 21st century America is that almost everyone who wanted a home in the past five years bought one, and even those who did not want, and should not have bought one, did in the hopes of turning it over for a quick profit. Because there are so few buyers now, and because lending institutions have been saddled with so many foreclosures that they are much more careful about their lending standards, the real estate market today is the playground of qualified buyers, and no longer that of the real estate companies.
So the real estate companies have shifted to survival mode, and are looking to the buyers for guidance on where they should be focusing their development efforts. But even the lack of buyers, in some areas, has not put as much downward pressure on home prices as one might expect, simply because developable land in the most sought after locations is rapidly disappearing, and real estate companies factor the cost of their land into the final cost of their homes.
The Dilemma Of The Real Estate Companies
Real estate companies are well aware that they will never have much difficulty finding buyers for either their entry-level or high-end homes. But they are currently overloaded with homes in the middle price ranges, because they have to build them in such large numbers in order for their businesses to be cost-effective. And as long as those homes remain unoccupied, they are an enormous drain on the resources of the real estate companies.
Addressing the Issues
In order to survive with the realities of the current market, real estate companies have had to go back to the drawing board and come up with some new approaches to their business. These include both raising the quality and lowering the costs of the homes they build. They have begun by substituting materials which will add durability to their offerings for those which simply add curbside appeal, but need replacing after a few years.
Real estate companies have finally come to the realization that most of their customers intend to stay in their homes for the long haul, and are not afraid to take legal measures against a developer who shortchanges them with shoddy materials in homes built on unsafe or contaminated land.
When the current lack of confidence in the real estate market finally begins to wane, those buyers who have been waiting on the sidelines will be looking for those real estate companies who have spent the down time improving their customer relations and the quality of their products. They won’t be hard to find, either, because they’ll be the only real estate companies to have survived.
You can also find more info on Real Estate Foreclosure and Buy Real Estate Online. 1realestatehelp.com is a comprehensive resource to get information about Real Estate.
Article Source: http://EzineArticles.com/?expert=Wade_Robins
Real Estate Investment Trusts
Royalty trusts, in Finance, are classic flow-through investments vehicles. The trust, like a mutual fund, holds a portfolio of assets, which can be anything from producing oil and gas wells to power generating stations to interests in land. The net cash flow, i.e. the total cash flow minus revenues, is passed on to the unit-holders as distribution.
The purpose of a Real Estate Investment Trusts is to reduce or eliminate corporate income taxes. In the United States, where they are generally more widespread as investment vehicles, Real Estate Investment Trusts pay little or no federal income tax but are subject to a number of special requirements set forth in the Internal Revenue Code, one of which is the requirement to distribute annually at least 90 percent of their taxable income in the form of dividends to shareholders.
Real Estate Investment Trusts are, therefore, a special type of royalty trust. They specialize in real property, anything from office buildings to long-term care facilities. For illiquid assets like real estate, closed-end funds of this type make good sense. Open-end or ‘mutual' real estate funds are subject to new money and redemption problems, entirely absent in closed-end trusts. The first Real Estate Investment Trust was introduced in the United States in 1960. The vehicle was designed to facilitate investments in large-scale income-producing real estate by smaller investors. The US model was simple, enabling small investors to acquire equity interests in vehicles holding large-scale commercial property.
But the birth of Real Estate Investments Trusts as a mass investment vehicle can be traced directly to the liquidity crisis encountered by open-end real estate mutual funds all the way back to 1991-92, during the slowdown of real estate that characterized those years. Faced with redemption demands on the part of unit-holders, real estate mutual funds were presented with the unpalatable option of selling valuable real properties into a distressed market to raise cash. Many of them, therefore, chose to close off redemptions and converted into Real Estate Investment Trusts, since then most commonly known as REIT's. Only a few open-end real estate mutual funds continue to own real estate directly. Most now invest in shares of real estate-related companies.
The typical REIT usually distributes about 85 to 95 percent of its income (rental income from properties) to the shareholders, usually on a quarterly basis. This income gets a special tax break, because REIT's shareholders are entitled to a deduction for the pro-rata share of capital cost allowance (depreciation on the real properties). As a result, a high percentage of the distributions are normally tax-deferred. However, the amount will vary from year to year and will differ depending on the particular REIT.
As with royalty trust, the value of tax-deferred income will reduce the adjusted cost base of the shares owned. For example, if an investor purchases 1,000 units at $15.50 per unit, receives $3,000 ($3.00 per share) in aggregate tax-deferred distribution over time, and the sells the shares for $17.50 each, the capital gain will be calculated as follows:
[1,000 x ($17.50 - $15.50 + $3.00)] = $5,000 before adjustments for commissions. In Canada, this gain will be subjected to capital gain treatment, so only 50 percent or $2,500 will be included in income and taxed accordingly. In fact, Canada allows preferential tax treatment to REIT's by making them RRSP-eligible and by not considering them foreign property (which would taxed at a higher rate), so long as the real estate portfolio does not contain non-Canadian property in excess of the allowable limit.
REIT's yields and the market price of units tend to be strongly influenced by interest rates movements. As rates drop, prices of REIT's rise thus causing yields to drop. On the other hand, when interest rates rise, prices of REIT's drop thus causing yields to rise.
For example, when interest rates were pushed up by both the Federal Reserve Board and the Bank of Canada all the way back in 2000, the typical REIT was yielding close to 14 percent as prices per share fell. When interest rates subsequently dropped, yields fell to less than 10 percent as demand for REIT's increased thus pushing share prices higher.
This is a very important consideration to be kept in mind when investing or otherwise trading units involving this type of trusts. If interest rates appear to be poised to rise, investors may want to defer purchases, and those who own this type of shares already may consider reducing their exposure by selling and take in some profit.
There are typically two catches with REIT's. The first is that since investors are ‘unit-holders' rather than shareholders, they are potentially jointly and severally liable together with all other unit-holders (plus the trust itself) in the eventuality of insolvency. Instead of limited liability, investors rely on the REIT's management to have property, casualty and liability insurance, prudent lending policies and other reasonable safeguards in place. Nevertheless there is always the possibility of a problem - say a catastrophic fire or a building collapse - that is not covered by insurance. This may have seemed like a very small matter prior to the attacks on the World Trade Center in 2001. Since then, however, it is something that has to be taken seriously.
The second problem with REIT's is less transparent. All real estate properties depreciate in value over time (not the land, only the buildings). Depreciation can be somewhat slowed down by earmarking at times significant amounts of money for maintenance and renewal of facilities. Since most of the REIT's income is being distributed and the capital cost allowance is being allocated to investors, investors are factually getting their own capital back over time. As such, the book value of the underlying real properties will be steadily depleting.
Obviously, if real estate markets are on the upswing the depreciation factor will not be overly important, since it will be offset by the appreciation of the underlying assets. But in essence, the point is that the long-term income stream is quite variable, certainly more variable than some managers would have investors believe.
As stated above, the inverse relationship between interest rates and prices of REIT's shares plays an important role. On average, it is safe to assume that interest rate increases are likely to be met by REIT's price declines in the Stock Exchange, because increasing rates correspond to a slowdown in the economic growth and less demand. But out of the context of the frantic buy and sell of Wall Street, even a slowdown in the market for single-family houses can actually benefit REIT's. This is so, because even though real property prices are in decline, it is still cheaper to rent than to own, especially during a period of rising interest rates. And REIT's thrive on rentals. In fact, no city is a better environment for REIT's to operate in than New York City, where some 70 percent of residents rent.
Luigi Frascati
Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.
Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.
Article Source: http://EzineArticles.com/?expert=Luigi_Frascati
The purpose of a Real Estate Investment Trusts is to reduce or eliminate corporate income taxes. In the United States, where they are generally more widespread as investment vehicles, Real Estate Investment Trusts pay little or no federal income tax but are subject to a number of special requirements set forth in the Internal Revenue Code, one of which is the requirement to distribute annually at least 90 percent of their taxable income in the form of dividends to shareholders.
Real Estate Investment Trusts are, therefore, a special type of royalty trust. They specialize in real property, anything from office buildings to long-term care facilities. For illiquid assets like real estate, closed-end funds of this type make good sense. Open-end or ‘mutual' real estate funds are subject to new money and redemption problems, entirely absent in closed-end trusts. The first Real Estate Investment Trust was introduced in the United States in 1960. The vehicle was designed to facilitate investments in large-scale income-producing real estate by smaller investors. The US model was simple, enabling small investors to acquire equity interests in vehicles holding large-scale commercial property.
But the birth of Real Estate Investments Trusts as a mass investment vehicle can be traced directly to the liquidity crisis encountered by open-end real estate mutual funds all the way back to 1991-92, during the slowdown of real estate that characterized those years. Faced with redemption demands on the part of unit-holders, real estate mutual funds were presented with the unpalatable option of selling valuable real properties into a distressed market to raise cash. Many of them, therefore, chose to close off redemptions and converted into Real Estate Investment Trusts, since then most commonly known as REIT's. Only a few open-end real estate mutual funds continue to own real estate directly. Most now invest in shares of real estate-related companies.
The typical REIT usually distributes about 85 to 95 percent of its income (rental income from properties) to the shareholders, usually on a quarterly basis. This income gets a special tax break, because REIT's shareholders are entitled to a deduction for the pro-rata share of capital cost allowance (depreciation on the real properties). As a result, a high percentage of the distributions are normally tax-deferred. However, the amount will vary from year to year and will differ depending on the particular REIT.
As with royalty trust, the value of tax-deferred income will reduce the adjusted cost base of the shares owned. For example, if an investor purchases 1,000 units at $15.50 per unit, receives $3,000 ($3.00 per share) in aggregate tax-deferred distribution over time, and the sells the shares for $17.50 each, the capital gain will be calculated as follows:
[1,000 x ($17.50 - $15.50 + $3.00)] = $5,000 before adjustments for commissions. In Canada, this gain will be subjected to capital gain treatment, so only 50 percent or $2,500 will be included in income and taxed accordingly. In fact, Canada allows preferential tax treatment to REIT's by making them RRSP-eligible and by not considering them foreign property (which would taxed at a higher rate), so long as the real estate portfolio does not contain non-Canadian property in excess of the allowable limit.
REIT's yields and the market price of units tend to be strongly influenced by interest rates movements. As rates drop, prices of REIT's rise thus causing yields to drop. On the other hand, when interest rates rise, prices of REIT's drop thus causing yields to rise.
For example, when interest rates were pushed up by both the Federal Reserve Board and the Bank of Canada all the way back in 2000, the typical REIT was yielding close to 14 percent as prices per share fell. When interest rates subsequently dropped, yields fell to less than 10 percent as demand for REIT's increased thus pushing share prices higher.
This is a very important consideration to be kept in mind when investing or otherwise trading units involving this type of trusts. If interest rates appear to be poised to rise, investors may want to defer purchases, and those who own this type of shares already may consider reducing their exposure by selling and take in some profit.
There are typically two catches with REIT's. The first is that since investors are ‘unit-holders' rather than shareholders, they are potentially jointly and severally liable together with all other unit-holders (plus the trust itself) in the eventuality of insolvency. Instead of limited liability, investors rely on the REIT's management to have property, casualty and liability insurance, prudent lending policies and other reasonable safeguards in place. Nevertheless there is always the possibility of a problem - say a catastrophic fire or a building collapse - that is not covered by insurance. This may have seemed like a very small matter prior to the attacks on the World Trade Center in 2001. Since then, however, it is something that has to be taken seriously.
The second problem with REIT's is less transparent. All real estate properties depreciate in value over time (not the land, only the buildings). Depreciation can be somewhat slowed down by earmarking at times significant amounts of money for maintenance and renewal of facilities. Since most of the REIT's income is being distributed and the capital cost allowance is being allocated to investors, investors are factually getting their own capital back over time. As such, the book value of the underlying real properties will be steadily depleting.
Obviously, if real estate markets are on the upswing the depreciation factor will not be overly important, since it will be offset by the appreciation of the underlying assets. But in essence, the point is that the long-term income stream is quite variable, certainly more variable than some managers would have investors believe.
As stated above, the inverse relationship between interest rates and prices of REIT's shares plays an important role. On average, it is safe to assume that interest rate increases are likely to be met by REIT's price declines in the Stock Exchange, because increasing rates correspond to a slowdown in the economic growth and less demand. But out of the context of the frantic buy and sell of Wall Street, even a slowdown in the market for single-family houses can actually benefit REIT's. This is so, because even though real property prices are in decline, it is still cheaper to rent than to own, especially during a period of rising interest rates. And REIT's thrive on rentals. In fact, no city is a better environment for REIT's to operate in than New York City, where some 70 percent of residents rent.
Luigi Frascati
Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.
Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.
Article Source: http://EzineArticles.com/?expert=Luigi_Frascati
Saturday, October 13, 2007
Important Tips for Selling your Condo in Victoria, BC
The procedure in selling a condo in Victoria, BC is similar to that of selling a house; however some significant differences do exist that a condo owner should be aware of. The bottom line is you want your condo to appeal to as many buyers as possible and as a result, get the best price possible. Following these important tips for selling a condo will ensure that your condo will be the most attractive in Victoria's condo market.
The first step is to find out if any work is being done to your building, such as painting or replacing carpets. Ideally, you'll want to put your condo on the market after the work is done because the more attractive the building looks, the more desirable your suite will be. The more positive selling features you can include about the building (ie. new fixtures throughout the common areas) will also reassure the buyer that the building is well maintained and kept up-to-date.
Another tip which may seem like a no-brainer is to de-clutter! One easy way to do this is to get rid of excess furniture that perhaps is too bulky for a condo space. Even if you have to rent a storage locker it's definitely worth the monthly payment, and with the clutter gone you probably won't need more than a month to sell. Another trick many people overlook is storing away your winter or summer clothes, making closets look larger. If its one thing condo buyers are looking for is open design with ample storage!
There will be documents involved when selling your condo, including a property disclosure statement which will ask you questions about your suite and the building. It is beneficial to familiarize yourself to the best of your knowledge with the status of the building, including all the strata minutes from the monthly meetings within the last couple years as well as the bylaws. Your agent will obtain a copy of these documents as well but staying on top of this paperwork will save time and make the selling process quicker and more efficient.
If your condo is tenant occupied, it is important that you comply with the rights of the tenants as you sell the suite. Your Realtor will be on top of this, but it's still good to know procedures such as carrying over a lease to new owners, damage deposits and showing the suite to potential buyers. Hopefully you have developed a good relationship with your tenant so they will be accommodating, and more important, conscious of keeping the place clean!
The final tip I can recommend when selling your condo is to remember the brighter-the better! Buyers are drawn to ads that begin with "bright, spacious". This can be achieved even if you don't have picture windows or southern exposure. Things like placing a lamp in the corner of room to spread the light, and always leave curtains and shades open. Adding mirrors to walls opposite windows to reflect light goes a long way to give the appearance of a larger space.
Source: http://www.ArticleOnRamp.com
The first step is to find out if any work is being done to your building, such as painting or replacing carpets. Ideally, you'll want to put your condo on the market after the work is done because the more attractive the building looks, the more desirable your suite will be. The more positive selling features you can include about the building (ie. new fixtures throughout the common areas) will also reassure the buyer that the building is well maintained and kept up-to-date.
Another tip which may seem like a no-brainer is to de-clutter! One easy way to do this is to get rid of excess furniture that perhaps is too bulky for a condo space. Even if you have to rent a storage locker it's definitely worth the monthly payment, and with the clutter gone you probably won't need more than a month to sell. Another trick many people overlook is storing away your winter or summer clothes, making closets look larger. If its one thing condo buyers are looking for is open design with ample storage!
There will be documents involved when selling your condo, including a property disclosure statement which will ask you questions about your suite and the building. It is beneficial to familiarize yourself to the best of your knowledge with the status of the building, including all the strata minutes from the monthly meetings within the last couple years as well as the bylaws. Your agent will obtain a copy of these documents as well but staying on top of this paperwork will save time and make the selling process quicker and more efficient.
If your condo is tenant occupied, it is important that you comply with the rights of the tenants as you sell the suite. Your Realtor will be on top of this, but it's still good to know procedures such as carrying over a lease to new owners, damage deposits and showing the suite to potential buyers. Hopefully you have developed a good relationship with your tenant so they will be accommodating, and more important, conscious of keeping the place clean!
The final tip I can recommend when selling your condo is to remember the brighter-the better! Buyers are drawn to ads that begin with "bright, spacious". This can be achieved even if you don't have picture windows or southern exposure. Things like placing a lamp in the corner of room to spread the light, and always leave curtains and shades open. Adding mirrors to walls opposite windows to reflect light goes a long way to give the appearance of a larger space.
Source: http://www.ArticleOnRamp.com
Tuesday, October 9, 2007
How To Sell My House Quickly
Are you currently in a situation were you are thinking about how to sell my house quickly.
Have you thought about using a cash buyer but have concerns about going down this route, and consider cash buyers unethical and out for what they can get?
Then let me alleviate your worries by taking you through the process of a cash sale.
Many, but not all, cash buyers are completely ethical and generate business from previous client referrals and testimonials, using a win-win approach. A win-win approach means that you both you, and the cash buyer, come out of the transaction satisfied that you have achieved your own goals.
But before you proceed with a cash buyer, you must first consider the following.
Is your requirement to move greater than your need to get the best price for your home? If you can answer yes to this, then you should consider using the services of a cash buyer. Typically this would be in circumstances such as:
· Bereavement
· Chain Breaking
· Ill health
· Debt
· Divorce
· Relocation
· Moving abroad
· Retirement
· Repossession
Sale and rent back
Inheritance
By seeking out an honest and professional house buying company, you may get a provisional offer on your home within hours, and have made that important fast sale within the week, or at least within a time frame that is acceptable to you.
The ultimate advantage this way of selling has over the more traditional methods, such as using an estate agent or through private sale, is that the sale is both fast and guaranteed. Speed and certainty are generally not common features within the housing market, therefore because of this, you will pay for this service by selling your property at a discount.
So what sort of discount should you expect to sell at? Many cash buyers offer anywhere from 65% to 85% of the open market value of the property. Realistically, and speaking from experience, a cash buyer will need a discount of around about 82% simply ‘to make their figures work’. That is, both cover their costs and leave them with an adequate, but not excessive profit, for the future upkeep of the property. Be aware that you understand that the open market value is not the same value that the estate agent would put your house on the market at. Open market value is what your property will actually sell for, if you were to ask the estate agent to sell your property within a 10 week time frame.
Should you expect to pay any additional costs other than the discount when selling to a cash buyer? Definitely no! If the cash buying company you decide to go with asks you to pay anything towards a surveyors valuation, or solicitors fees, or fees for providing the service, then I suggest you walk away. I would advise that you choose the type of company that will pay your legal fees, one that considers YOU and your situation throughout the process, and one that is concerned about making the transaction as cost free for you as possible.
There will be companies out their waiting to take advantage of your situation, and will even offer you as low as 50% for your property. It is imperative therefore that you always go with a reputable company, taking into account all of the above. On a positive note however, once you do find that trustworthy company, then selling your house to a local cash buyer can make perfect sense and alleviate those how to sell my house quickly worries!
Corine Smith is a property expert and member of How To Sell My House Quickly. She has worked for many years for a national house builder dealing with both property investors and individual house buyers and sellers.
For a free, confidential, no-obligation offer on your home visit: http://howtosellmyhousequickly.sampasite.com/
Article Source: http://EzineArticles.com/?expert=Corine_Smith
Have you thought about using a cash buyer but have concerns about going down this route, and consider cash buyers unethical and out for what they can get?
Then let me alleviate your worries by taking you through the process of a cash sale.
Many, but not all, cash buyers are completely ethical and generate business from previous client referrals and testimonials, using a win-win approach. A win-win approach means that you both you, and the cash buyer, come out of the transaction satisfied that you have achieved your own goals.
But before you proceed with a cash buyer, you must first consider the following.
Is your requirement to move greater than your need to get the best price for your home? If you can answer yes to this, then you should consider using the services of a cash buyer. Typically this would be in circumstances such as:
· Bereavement
· Chain Breaking
· Ill health
· Debt
· Divorce
· Relocation
· Moving abroad
· Retirement
· Repossession
Sale and rent back
Inheritance
By seeking out an honest and professional house buying company, you may get a provisional offer on your home within hours, and have made that important fast sale within the week, or at least within a time frame that is acceptable to you.
The ultimate advantage this way of selling has over the more traditional methods, such as using an estate agent or through private sale, is that the sale is both fast and guaranteed. Speed and certainty are generally not common features within the housing market, therefore because of this, you will pay for this service by selling your property at a discount.
So what sort of discount should you expect to sell at? Many cash buyers offer anywhere from 65% to 85% of the open market value of the property. Realistically, and speaking from experience, a cash buyer will need a discount of around about 82% simply ‘to make their figures work’. That is, both cover their costs and leave them with an adequate, but not excessive profit, for the future upkeep of the property. Be aware that you understand that the open market value is not the same value that the estate agent would put your house on the market at. Open market value is what your property will actually sell for, if you were to ask the estate agent to sell your property within a 10 week time frame.
Should you expect to pay any additional costs other than the discount when selling to a cash buyer? Definitely no! If the cash buying company you decide to go with asks you to pay anything towards a surveyors valuation, or solicitors fees, or fees for providing the service, then I suggest you walk away. I would advise that you choose the type of company that will pay your legal fees, one that considers YOU and your situation throughout the process, and one that is concerned about making the transaction as cost free for you as possible.
There will be companies out their waiting to take advantage of your situation, and will even offer you as low as 50% for your property. It is imperative therefore that you always go with a reputable company, taking into account all of the above. On a positive note however, once you do find that trustworthy company, then selling your house to a local cash buyer can make perfect sense and alleviate those how to sell my house quickly worries!
Corine Smith is a property expert and member of How To Sell My House Quickly. She has worked for many years for a national house builder dealing with both property investors and individual house buyers and sellers.
For a free, confidential, no-obligation offer on your home visit: http://howtosellmyhousequickly.sampasite.com/
Article Source: http://EzineArticles.com/?expert=Corine_Smith
How to Sell Your Home Faster in Florida Real Estate
As soon as you decided to sell your home in Florida real estate, you do not put for sale sign just like that. You have plenty of things to consider, so to sell your home faster.
Yes, indeed, there are a lot of things you need to do in order to sell your home. One of this is hiring the service of real estate agent. Just a piece of advice, in choosing the best real estate agent, you have to pick up at least 2 or 3 real estate agents then you have to allot time to interview them all. In doing so, you will have the chance to know them and what they can do best. Then after about 2 to 3 days again, you have to decide which one you prefer to hire, someone you’ll be comfortable to work with.
Definitely, your real estate agent will advise you to make some home improvements and preparations. Because you really have to make sure that your home is attractive enough to get potential buyers. You have to check out your home inside and out, see to it that everything is clean. You can paint the walls, ceilings and doors. Then you have to remove the clutter in every room of your home. You have to make the home look comfortable and spacious. Yes, I said spacious, but not in a way that you will empty every room. You still have to put certain furniture and fixtures to make the home attractive. If ever you see some problems that need some repairs, you can hire someone to do the work for you. Yes, you have to do this, since potential buyers want to buy a good home not a home will lots of problems. So in order to attract buyers, you have to do all of these things.
The next thing that you and your real estate agent have to do is make the asking price, but making the asking price, you have to make sure that it is reasonable enough. Your real estate agent has to look for the homes in your neighborhood that are for sale as well or those homes that were sold, and you and your agent can base it from there.
One more important thing that you and your agent have to do is to make flyers and put them on your flyer box. Indeed, this strategy is very important, in order to advertise your home which is for sale. In the flyer, you have to put the picture of your home, indicate the details and features of your home such as the numbers of room, bathroom and so on. You can also put the name of your agent in the flyer. And definitely, you have to put the contract details on the flyers.
You see if you really want to sell your home in Florida real estate, you have to give time, effort and hard work in order to make sure that you will successfully sell your home in Florida real estate.
This article mention some of the helpful tips that you have to do to make sure that you can sell your home faster in Florida real estate. Now, you can start doing it in order to make a quick sale in Florida real estate.
Article Author Eliza Maledevic from Jump2top.com, a SEO Company.Know more about Florida Real Estate at http://www.miamirealestateinc.org & http://www.srqmls.com
Article Source: http://EzineArticles.com/?expert=Eliza_Maledevic
Yes, indeed, there are a lot of things you need to do in order to sell your home. One of this is hiring the service of real estate agent. Just a piece of advice, in choosing the best real estate agent, you have to pick up at least 2 or 3 real estate agents then you have to allot time to interview them all. In doing so, you will have the chance to know them and what they can do best. Then after about 2 to 3 days again, you have to decide which one you prefer to hire, someone you’ll be comfortable to work with.
Definitely, your real estate agent will advise you to make some home improvements and preparations. Because you really have to make sure that your home is attractive enough to get potential buyers. You have to check out your home inside and out, see to it that everything is clean. You can paint the walls, ceilings and doors. Then you have to remove the clutter in every room of your home. You have to make the home look comfortable and spacious. Yes, I said spacious, but not in a way that you will empty every room. You still have to put certain furniture and fixtures to make the home attractive. If ever you see some problems that need some repairs, you can hire someone to do the work for you. Yes, you have to do this, since potential buyers want to buy a good home not a home will lots of problems. So in order to attract buyers, you have to do all of these things.
The next thing that you and your real estate agent have to do is make the asking price, but making the asking price, you have to make sure that it is reasonable enough. Your real estate agent has to look for the homes in your neighborhood that are for sale as well or those homes that were sold, and you and your agent can base it from there.
One more important thing that you and your agent have to do is to make flyers and put them on your flyer box. Indeed, this strategy is very important, in order to advertise your home which is for sale. In the flyer, you have to put the picture of your home, indicate the details and features of your home such as the numbers of room, bathroom and so on. You can also put the name of your agent in the flyer. And definitely, you have to put the contract details on the flyers.
You see if you really want to sell your home in Florida real estate, you have to give time, effort and hard work in order to make sure that you will successfully sell your home in Florida real estate.
This article mention some of the helpful tips that you have to do to make sure that you can sell your home faster in Florida real estate. Now, you can start doing it in order to make a quick sale in Florida real estate.
Article Author Eliza Maledevic from Jump2top.com, a SEO Company.Know more about Florida Real Estate at http://www.miamirealestateinc.org & http://www.srqmls.com
Article Source: http://EzineArticles.com/?expert=Eliza_Maledevic
Tips For Investing In Caribbean Real Estate
If you've always dreamed of having your own piece of paradise, then Caribbean real estate could be for you. Whether you are considering making an idyllic island your home, are considering an investment property, or just want somewhere nice to vacation in the summer months, the Caribbean is a good place to consider.
A real estate purchase is a big decision. Purchasing a property offers a feeling of security and pride, and can be the first step towards financial growth. When you buy a property in the Caribbean, your purchase will be subject to the laws of the specific area of the Caribbean that the property is located in, and the laws can vary from nation to nation, as can the forms of ownership rights.
Several Caribbean real estate developments come with specific laws governing the transferable rights to foreign investors. This can prove to be quite a chore and hence it is recommended that all buyers interested in Caribbean real estate hire a competent real estate attorney in order to make sure that everything is understood and is done in conformity to all legal requirements.
One of the most important parts of the process of purchasing Caribbean real estate is the safe transfer of funds.
Most purchases involve huge sums of money, and it is important that both buyer and seller are sure that the sale is legitimate and that the right amounts (property value, and money) are changing hands. As you should be aware, most real estate transactions involve huge sums of money that are often paid in monthly installments.
It is only natural for most sellers to ask for significant deposits in order to assure themselves of the ability of the buyer to pay the rest without any problems. Similarly, it is in the interest of all buyers to not only deposit as small an amount as possible but also to deposit all money to a trusted third party rather than an unknown seller. This third party is known as an escrow agent that holds funds on behalf of the buyer and disburses them to the seller once all the contractual terms have been endorsed and met by both parties.
Buying Caribbean real estate offers some wonderful opportunities, and can be a dream come true for many investors, however as with all property purchases, there are some risks that you need to be aware of, and you should approach the decision with caution. Below are some tips to consider:
1) Make sure the seller has legal ownership of the property you intend to buy.
2) Consult a real estate attorney to perform checks on the ownership background of the property.
3) Have your attorney check the purchase/sell agreement and all the terms and conditions therein.
4) Make sure you use an escrow agent when exchanging funds.
5) Seek active help of your attorney to make sure you have all the documentation done right.
6) As soon as you make the purchase, get the transfer of ownership recorded with the authorities in the location of the purchase.
Once you have followed all the tips above, you can relax and enjoy your piece of paradise
Source: Articles Universe: http://articlesuniverse.com
A real estate purchase is a big decision. Purchasing a property offers a feeling of security and pride, and can be the first step towards financial growth. When you buy a property in the Caribbean, your purchase will be subject to the laws of the specific area of the Caribbean that the property is located in, and the laws can vary from nation to nation, as can the forms of ownership rights.
Several Caribbean real estate developments come with specific laws governing the transferable rights to foreign investors. This can prove to be quite a chore and hence it is recommended that all buyers interested in Caribbean real estate hire a competent real estate attorney in order to make sure that everything is understood and is done in conformity to all legal requirements.
One of the most important parts of the process of purchasing Caribbean real estate is the safe transfer of funds.
Most purchases involve huge sums of money, and it is important that both buyer and seller are sure that the sale is legitimate and that the right amounts (property value, and money) are changing hands. As you should be aware, most real estate transactions involve huge sums of money that are often paid in monthly installments.
It is only natural for most sellers to ask for significant deposits in order to assure themselves of the ability of the buyer to pay the rest without any problems. Similarly, it is in the interest of all buyers to not only deposit as small an amount as possible but also to deposit all money to a trusted third party rather than an unknown seller. This third party is known as an escrow agent that holds funds on behalf of the buyer and disburses them to the seller once all the contractual terms have been endorsed and met by both parties.
Buying Caribbean real estate offers some wonderful opportunities, and can be a dream come true for many investors, however as with all property purchases, there are some risks that you need to be aware of, and you should approach the decision with caution. Below are some tips to consider:
1) Make sure the seller has legal ownership of the property you intend to buy.
2) Consult a real estate attorney to perform checks on the ownership background of the property.
3) Have your attorney check the purchase/sell agreement and all the terms and conditions therein.
4) Make sure you use an escrow agent when exchanging funds.
5) Seek active help of your attorney to make sure you have all the documentation done right.
6) As soon as you make the purchase, get the transfer of ownership recorded with the authorities in the location of the purchase.
Once you have followed all the tips above, you can relax and enjoy your piece of paradise
Source: Articles Universe: http://articlesuniverse.com
Real Estate Property Investment Series: Focus Australia 2007
By Rhiannon Williamson
While many property market and economic experts agree that average home prices in Australia in the current cycle probably peaked back in 2005, there are still pockets of property investment potential in Australia and there are always approaches that investors can apply for maximum profitability even in a market as mature as Australia’s.
First things first it is imperative to note that there is a large affordability issue affecting middle-Australia and the average would-be home owner – house prices have risen higher than three, four or even five times the median wage in the majority of Australia’s main towns and cities and there is an ongoing risk that interest rates will increase meaning that even those who can stretch themselves to the point of affording a mortgage to buy are loath to commit.
For first time home buyers in Australia this is a negative situation – but for investors this is a very positive situation!
This situation means that there is mounting demand for quality rental stock with yields increasing throughout 2007 as the demand soars, and there are no signs that demand for rental stock will diminish in the short to medium term.
The next positive factors in an investor’s favour in Australia are that all coastal land and real estate as well as those homes in the major cities and coastal hotspots valued above the 1 or 2 million Australian dollar mark are intensely in demand – simply, the former is never out of favour and the latter types of property are far less affected by any small economic knocks and shakes such as small increases in interest rates.
These factors mean that investors in a position to upgrade their property investment portfolios could do very well in Australia going in to 2007.
In terms of focusing on coastal real estate – quite simply coastal land and property is in finite supply the whole world over and while Australia remains a nation where the population prefers to live around beaches, ports and seaside locations, coastal properties will always represent a good long term investment decision in Australia – not just for 2007…
In terms of focusing on the upper end of the housing market – even in cities like Perth, Sydney and Melbourne where affordability died in the market months ago, demand for properties for sale above the 2 million Australian dollar mark has never been so intense with new developers in limited supply which offers up a niche market sector for an investor to examine.
For those new to the property investment market in Australia or who have less than a few million to spend on a buying or building a single home, bear the following factors in mind if you want to profit from Australian property in 2007: -
The Ripple Effect – not everyone can afford to live by the sea but many want to live as close to it as they can afford to which is why price increases for coastal properties ripple outwards on a suburb by suburb basis – look at which suburbs close to the coast have room for price expansion and buy in…the same tactic applies to city centres and central business districts, start in the centre and work back.
The Fuel Price Factor – oil prices are increasing, the cost of commuting is annually eating a greater portion of the average worker’s take home pay and this all means that more and more people demand access to decent travel infrastructure to cut their costs and commute times. Savvy investors will look at areas of cities about to get new bus routes, rail links or metro lines and they will look at run down areas with decent potential for transport and buy into these locations as all evidence suggests that prices for properties in these parts of Australia are set to increase.
These two tactics will work in 2007 and beyond.
Finally, the property market cycle in Australia right now and going forward into 2007 has reached a unique point…fewer people are in a position to buy meaning ‘for sale’ stock is remaining unsold – this allows property investors a chance to negotiate hard, buy bargains and even clear stock on brand new developments for a fraction of their actual value.
By buying property undervalued an investor has an immediate equity increase in his portfolio. While the market remains stale an investor cannot sell to realise this increase in capital gains but they can then rent out to a market hungry for stock and a market which, through its intense demand, is pushing up rental rates chargeable.
An investor therefore has a chance to buy quality stock at knock down prices, achieve an instant lift on underlying price, tap into a strongly demanding market and buy into a period of increasing rental yields right now.
At the end of this sequence in the property market cycle affordability will return to the market, demand will manifest itself on the house buyer front, property prices will rise and an investor can then reap significant capital appreciation from investments made in 2007.
Rhiannon Williamson writes about real estate investment worldwide, to read more about her Australia property investment market predictions for 2007 click here.
Article Source: http://EzineArticles.com/?expert=Rhiannon_Williamson
While many property market and economic experts agree that average home prices in Australia in the current cycle probably peaked back in 2005, there are still pockets of property investment potential in Australia and there are always approaches that investors can apply for maximum profitability even in a market as mature as Australia’s.
First things first it is imperative to note that there is a large affordability issue affecting middle-Australia and the average would-be home owner – house prices have risen higher than three, four or even five times the median wage in the majority of Australia’s main towns and cities and there is an ongoing risk that interest rates will increase meaning that even those who can stretch themselves to the point of affording a mortgage to buy are loath to commit.
For first time home buyers in Australia this is a negative situation – but for investors this is a very positive situation!
This situation means that there is mounting demand for quality rental stock with yields increasing throughout 2007 as the demand soars, and there are no signs that demand for rental stock will diminish in the short to medium term.
The next positive factors in an investor’s favour in Australia are that all coastal land and real estate as well as those homes in the major cities and coastal hotspots valued above the 1 or 2 million Australian dollar mark are intensely in demand – simply, the former is never out of favour and the latter types of property are far less affected by any small economic knocks and shakes such as small increases in interest rates.
These factors mean that investors in a position to upgrade their property investment portfolios could do very well in Australia going in to 2007.
In terms of focusing on coastal real estate – quite simply coastal land and property is in finite supply the whole world over and while Australia remains a nation where the population prefers to live around beaches, ports and seaside locations, coastal properties will always represent a good long term investment decision in Australia – not just for 2007…
In terms of focusing on the upper end of the housing market – even in cities like Perth, Sydney and Melbourne where affordability died in the market months ago, demand for properties for sale above the 2 million Australian dollar mark has never been so intense with new developers in limited supply which offers up a niche market sector for an investor to examine.
For those new to the property investment market in Australia or who have less than a few million to spend on a buying or building a single home, bear the following factors in mind if you want to profit from Australian property in 2007: -
The Ripple Effect – not everyone can afford to live by the sea but many want to live as close to it as they can afford to which is why price increases for coastal properties ripple outwards on a suburb by suburb basis – look at which suburbs close to the coast have room for price expansion and buy in…the same tactic applies to city centres and central business districts, start in the centre and work back.
The Fuel Price Factor – oil prices are increasing, the cost of commuting is annually eating a greater portion of the average worker’s take home pay and this all means that more and more people demand access to decent travel infrastructure to cut their costs and commute times. Savvy investors will look at areas of cities about to get new bus routes, rail links or metro lines and they will look at run down areas with decent potential for transport and buy into these locations as all evidence suggests that prices for properties in these parts of Australia are set to increase.
These two tactics will work in 2007 and beyond.
Finally, the property market cycle in Australia right now and going forward into 2007 has reached a unique point…fewer people are in a position to buy meaning ‘for sale’ stock is remaining unsold – this allows property investors a chance to negotiate hard, buy bargains and even clear stock on brand new developments for a fraction of their actual value.
By buying property undervalued an investor has an immediate equity increase in his portfolio. While the market remains stale an investor cannot sell to realise this increase in capital gains but they can then rent out to a market hungry for stock and a market which, through its intense demand, is pushing up rental rates chargeable.
An investor therefore has a chance to buy quality stock at knock down prices, achieve an instant lift on underlying price, tap into a strongly demanding market and buy into a period of increasing rental yields right now.
At the end of this sequence in the property market cycle affordability will return to the market, demand will manifest itself on the house buyer front, property prices will rise and an investor can then reap significant capital appreciation from investments made in 2007.
Rhiannon Williamson writes about real estate investment worldwide, to read more about her Australia property investment market predictions for 2007 click here.
Article Source: http://EzineArticles.com/?expert=Rhiannon_Williamson
Are You Seeking a Time Share Resale Property?
It's crucial to know what owning a time share resale property actually means. When purchasing a time share resale property, getting all the particulars is paramount. Once a person purchases a time share resale property it does not mean they're purchasing an exclusive piece of property.
Owning a time share resale property implies the individual or individuals have access to their time share at a particular time during the year. The rationele being that they just own a portion of the property. Others with ownership in this property can also be utilising this unit throughout the year.
So, are you still up for purchasing a time share resale property? There exist a couple of realities you had better understand concerning time share resale property costs and timeshare types. When purchasing a time share resale property for sale, it's significant to understand that the buyer is required to pay an equal percentage of the property, if purchasing a new time share resale unit. For those units that are occasionally sold by the developers, you may find there is financing available.
Still, if purchasing a time share resale property, the purchaser is in all likelihood expected to pay cash. It's also necessary to know when entering into buying a time share resale property for sale that as a buyer, the person is required to partake in the annual costs for taxes, upkeep and possibly management fees as well.
Considering time share resale property types, there exist several when deciding on a timeshare types. A fixed property or deeded timeshare allows for the purchaser to receive a title which tells the particular time of year they have access to the unit. There's also a float me time understanding. This alternative allows for some flexibility involving dates. This type of time share resale property expects the buyers to make a booking for use.
There's also a right-to-use-timeshare option in some cases. This time share resale property is in reality a term of a contract or lease. When investing in this type of time share resale property, the buyer must know that when this lease is complete, your rights to the unit end. There are also time share resale property plans formed which are based on points. Time share resale property buyers can choose from various vacation destinations.
Whenever you're purchasing a time share resale property for sale, be sure to do your preparation. It would be dreadful to go into an ownership arrangement without appropriate knowledge of how the procedure does work
JD Strato is a freelance writer for FREEListUSA specializing in FREE Real Estate Listing option in many cities in Florida, California and various areas of the USA
http://www.amazines.com/Investment/article_detail.cfm/334229?articleid=334229
Owning a time share resale property implies the individual or individuals have access to their time share at a particular time during the year. The rationele being that they just own a portion of the property. Others with ownership in this property can also be utilising this unit throughout the year.
So, are you still up for purchasing a time share resale property? There exist a couple of realities you had better understand concerning time share resale property costs and timeshare types. When purchasing a time share resale property for sale, it's significant to understand that the buyer is required to pay an equal percentage of the property, if purchasing a new time share resale unit. For those units that are occasionally sold by the developers, you may find there is financing available.
Still, if purchasing a time share resale property, the purchaser is in all likelihood expected to pay cash. It's also necessary to know when entering into buying a time share resale property for sale that as a buyer, the person is required to partake in the annual costs for taxes, upkeep and possibly management fees as well.
Considering time share resale property types, there exist several when deciding on a timeshare types. A fixed property or deeded timeshare allows for the purchaser to receive a title which tells the particular time of year they have access to the unit. There's also a float me time understanding. This alternative allows for some flexibility involving dates. This type of time share resale property expects the buyers to make a booking for use.
There's also a right-to-use-timeshare option in some cases. This time share resale property is in reality a term of a contract or lease. When investing in this type of time share resale property, the buyer must know that when this lease is complete, your rights to the unit end. There are also time share resale property plans formed which are based on points. Time share resale property buyers can choose from various vacation destinations.
Whenever you're purchasing a time share resale property for sale, be sure to do your preparation. It would be dreadful to go into an ownership arrangement without appropriate knowledge of how the procedure does work
JD Strato is a freelance writer for FREEListUSA specializing in FREE Real Estate Listing option in many cities in Florida, California and various areas of the USA
http://www.amazines.com/Investment/article_detail.cfm/334229?articleid=334229
Real Estate Negotiating Techniques
By Brandon Lambert
Many new investors get a little nervous about negotiations. That is understandable because most new investors haven’t really been involved in too many negotiations other than maybe buying a car. Therein lies the problem. In a car-buying situation, the negotiations are adversarial. It is uncomfortable. It feels like you are being taken advantage of. That is not how negotiations should look. They should be more like a conversation.
If you view the interaction as a conversation, you will much more successful. Here is the reason why. In a conversation, you are focused on the needs of the individual rather than just making a profit. That has two effects. The person with whom you are negotiating genuinely feels you care about them and their problem. That is called building rapport. Building rapport is crucial to any successful negotiation. The other party involved has to feel some sort of connection to you in order to feel comfortable with the transaction. The second effect is you are getting to the problem behind the problem. In other words, you know that they NEED to sell their house, but by having a conversation with them, you can find out WHY they need to sell their house. That is the real problem you have to try to solve.
A good example for the importance of finding out the big WHY is in a probate situation, when you are dealing with an executor, it could be easy to assume that they need to sell the house to fulfill their duties as an executor. But if you had a simple conversation with them, you might find out that they are also the sole heir and they need to unload the house quickly because they can’t afford the tax bill that is coming due in one month. Now the conversation can be shifted to focus on solving that problem rather than simply buying the house. You might say something like “I’ll buy the house all cash and I’ll even pay all of the taxes due for the year—not just your prorated share as is normal. But to do that, I will need a discount.” Do you see how the tone of the conversation changed?
I heard a story of two boys who were arguing over who could have the last orange. They negotiated back and forth, raising and lowering the stakes in the amount of toys they would be willing to trade for the orange. In the end, one boy got the orange, but he really felt cheated because of how many of his toys he had to give the other boy. As he peeled the orange to eat it, he threw the peals away. The other boy who didn’t get the orange, said “Hey! Why are you throwing those away? I wanted the peels for my compost pile I am making for my science project at school!” If the two had had a simple conversation, they would have found out that one wanted only the inside of the orange to eat while the other only wanted the peel for a science project. That one orange could have met both of their desired outcomes, but they never knew that. They were too focused on the object be negotiated about.
Remember, the next time you are negotiating to buy a house try not to focus so much on the house. Try identify the seller’s problem behind the problem—their big WHY—and you will have a much better result and experience with the transaction.
Happy Investing!!
Brandon Lambert and Jimmy Reed
Brandon Lambert and Jimmy Reed have been investing in Real Estate for more than 25 years. Jimmy is the author and lead trainer for Wholesale Buying for one of the largest real estate training companies in the US. Brandon and Jimmy collaborated together to write The Hidden Treasures and Profits of Probate in order to help investors--both new and seasoned--to get a leg up on their competition by finding deals in a niche area that nobody else is looking in. You can learn more about the book at http://www.probaterealestatedeals.com It is our sincere desire that everyone who wants to get in to real estate investing will succeed beyond their wildest dream. It is our mission to help them get there.
Article Source: http://EzineArticles.com/?expert=Brandon_Lambert
Many new investors get a little nervous about negotiations. That is understandable because most new investors haven’t really been involved in too many negotiations other than maybe buying a car. Therein lies the problem. In a car-buying situation, the negotiations are adversarial. It is uncomfortable. It feels like you are being taken advantage of. That is not how negotiations should look. They should be more like a conversation.
If you view the interaction as a conversation, you will much more successful. Here is the reason why. In a conversation, you are focused on the needs of the individual rather than just making a profit. That has two effects. The person with whom you are negotiating genuinely feels you care about them and their problem. That is called building rapport. Building rapport is crucial to any successful negotiation. The other party involved has to feel some sort of connection to you in order to feel comfortable with the transaction. The second effect is you are getting to the problem behind the problem. In other words, you know that they NEED to sell their house, but by having a conversation with them, you can find out WHY they need to sell their house. That is the real problem you have to try to solve.
A good example for the importance of finding out the big WHY is in a probate situation, when you are dealing with an executor, it could be easy to assume that they need to sell the house to fulfill their duties as an executor. But if you had a simple conversation with them, you might find out that they are also the sole heir and they need to unload the house quickly because they can’t afford the tax bill that is coming due in one month. Now the conversation can be shifted to focus on solving that problem rather than simply buying the house. You might say something like “I’ll buy the house all cash and I’ll even pay all of the taxes due for the year—not just your prorated share as is normal. But to do that, I will need a discount.” Do you see how the tone of the conversation changed?
I heard a story of two boys who were arguing over who could have the last orange. They negotiated back and forth, raising and lowering the stakes in the amount of toys they would be willing to trade for the orange. In the end, one boy got the orange, but he really felt cheated because of how many of his toys he had to give the other boy. As he peeled the orange to eat it, he threw the peals away. The other boy who didn’t get the orange, said “Hey! Why are you throwing those away? I wanted the peels for my compost pile I am making for my science project at school!” If the two had had a simple conversation, they would have found out that one wanted only the inside of the orange to eat while the other only wanted the peel for a science project. That one orange could have met both of their desired outcomes, but they never knew that. They were too focused on the object be negotiated about.
Remember, the next time you are negotiating to buy a house try not to focus so much on the house. Try identify the seller’s problem behind the problem—their big WHY—and you will have a much better result and experience with the transaction.
Happy Investing!!
Brandon Lambert and Jimmy Reed
Brandon Lambert and Jimmy Reed have been investing in Real Estate for more than 25 years. Jimmy is the author and lead trainer for Wholesale Buying for one of the largest real estate training companies in the US. Brandon and Jimmy collaborated together to write The Hidden Treasures and Profits of Probate in order to help investors--both new and seasoned--to get a leg up on their competition by finding deals in a niche area that nobody else is looking in. You can learn more about the book at http://www.probaterealestatedeals.com It is our sincere desire that everyone who wants to get in to real estate investing will succeed beyond their wildest dream. It is our mission to help them get there.
Article Source: http://EzineArticles.com/?expert=Brandon_Lambert
5 Property Renovation Secrets
By Chris Clarke
Planning a property renovation can be so great fun and hard work at the same time. Thinking of the things you'd like to change about the property's layout or making a dingy room something beautiful and enjoyable can be very rewarding. Property renovations can be a big job, though, and plenty of people have great ideas but lots of questions about what they should and shouldn't do. These are some of the most common questions that come up often and the best answers about property renovation projects:
What's the best way to start a property renovation project?
Read. There are plenty of books out there on the market that will help with any property renovation, from painting and changing wallpaper to knocking down walls and wiring. Reading everything you can about the project you have in mind can save you time and money by giving you great tips on where to put your effort. There are also lots of how-to books in the stores that will help you with your project from start to finish, and knowing what you're doing will save you a lot of headaches or mistakes that end up costing you money.
Are there property renovation projects that can increase the value of a property?
Absolutely. When you're thinking of trying to do some property renovation to sell a property for a profit, invest your money in the more high-traffic areas, such as the living room, kitchen, and bathroom. Flooring is another good place to sink some money, and the choice of options as well as ease of changing flooring makes this area a nice project to undertake. Freshening up rooms with a little colour can help increase the appeal of your property. Bedrooms come in a close second for best renovation areas, but keep in mind that investing in updating the look of the kitchen will go a lot farther when you're trying to resell.
Finding ways to make money is important these days, and many people think that buying a run-down house to renovate and then resell is a good idea. Is renovating to turn a profit really worth it?
If you're not planning on moving soon, property renovations to increase value may not be worth the cost or effort. Also, if you're the kind of person that attaches emotion to things, then fixing up your living environment only to give it to someone else may be difficult to do. For those who don't mind living in construction material and partly-unfinished rooms, renovating may be a good idea, though making sure you have the time and money to carry out projects is a wise thing to do. Should you decide to renovation to turn a profit, choose projects that have a high rate of return, such as kitchen remodeling, changing a bathroom or adding a second one, or replacing windows for ones that are of better quality.
Is doing property renovation yourself a worthwhile undertaking?
Yes and no. Thinking about changes to a property and its potential can be fun and exciting, but there are some areas that are better left to professionals. Having a contractor come in and hear about your ideas is a good thing to do, as a professional can provide you with some proper plans and point out some areas of the project that you may not have considered, such as headspace or lighting.
A lot of people think it's not worthwhile to carry out property renovations. Are there good reasons for taking on property renovating?
Of course. It all depends on what your long term goals are. If you want to start out small and only carry our a couple of property renovations a year then you are going to be exerting a lot of effort for a relatively small return. However if you are looking at property renovation as a stepping stone to larger projects, ultimately leading to new build projects then it is a great place to start.
So you can see that property renovation can be a great way to earn a living, but it does carry it's own risks and challenges. Probably the most valuable piece of advice anyone can give a budding property developer is that research is the key. Research your property for renovation, research your plans, take time to research your team and you will be ready for anything. Good luck with your property renovation career.
Planning a property renovation can be so great fun and hard work at the same time. Thinking of the things you'd like to change about the property's layout or making a dingy room something beautiful and enjoyable can be very rewarding. Property renovations can be a big job, though, and plenty of people have great ideas but lots of questions about what they should and shouldn't do. These are some of the most common questions that come up often and the best answers about property renovation projects:
What's the best way to start a property renovation project?
Read. There are plenty of books out there on the market that will help with any property renovation, from painting and changing wallpaper to knocking down walls and wiring. Reading everything you can about the project you have in mind can save you time and money by giving you great tips on where to put your effort. There are also lots of how-to books in the stores that will help you with your project from start to finish, and knowing what you're doing will save you a lot of headaches or mistakes that end up costing you money.
Are there property renovation projects that can increase the value of a property?
Absolutely. When you're thinking of trying to do some property renovation to sell a property for a profit, invest your money in the more high-traffic areas, such as the living room, kitchen, and bathroom. Flooring is another good place to sink some money, and the choice of options as well as ease of changing flooring makes this area a nice project to undertake. Freshening up rooms with a little colour can help increase the appeal of your property. Bedrooms come in a close second for best renovation areas, but keep in mind that investing in updating the look of the kitchen will go a lot farther when you're trying to resell.
Finding ways to make money is important these days, and many people think that buying a run-down house to renovate and then resell is a good idea. Is renovating to turn a profit really worth it?
If you're not planning on moving soon, property renovations to increase value may not be worth the cost or effort. Also, if you're the kind of person that attaches emotion to things, then fixing up your living environment only to give it to someone else may be difficult to do. For those who don't mind living in construction material and partly-unfinished rooms, renovating may be a good idea, though making sure you have the time and money to carry out projects is a wise thing to do. Should you decide to renovation to turn a profit, choose projects that have a high rate of return, such as kitchen remodeling, changing a bathroom or adding a second one, or replacing windows for ones that are of better quality.
Is doing property renovation yourself a worthwhile undertaking?
Yes and no. Thinking about changes to a property and its potential can be fun and exciting, but there are some areas that are better left to professionals. Having a contractor come in and hear about your ideas is a good thing to do, as a professional can provide you with some proper plans and point out some areas of the project that you may not have considered, such as headspace or lighting.
A lot of people think it's not worthwhile to carry out property renovations. Are there good reasons for taking on property renovating?
Of course. It all depends on what your long term goals are. If you want to start out small and only carry our a couple of property renovations a year then you are going to be exerting a lot of effort for a relatively small return. However if you are looking at property renovation as a stepping stone to larger projects, ultimately leading to new build projects then it is a great place to start.
So you can see that property renovation can be a great way to earn a living, but it does carry it's own risks and challenges. Probably the most valuable piece of advice anyone can give a budding property developer is that research is the key. Research your property for renovation, research your plans, take time to research your team and you will be ready for anything. Good luck with your property renovation career.
Find out more about bridging loans by talking to a commercial finance broker. Spectrum Business Finance have been arranging bridging finance property renovation for over 5 years and have the experience to accommodate most circumstances.
Article Source: http://EzineArticles.com/?expert=Chris_Clarke
The Texas Housing Market
By R Chandler Smith
The US financial system and its state has been a topic of several guesses along with the nation's housing; but from all these, Texas is believed to be the top housing place. This means that purchasers and sellers should be conscious of the usual modifications and most up to date news concerning the housing progress that is ongoing in Texas.
The increase of charges for short-term interests did not prove to be much of a setback for the Texas housing market. With assistance from a low unemployment rate, an overall total of low interest rates and an rise in personal income, spending in the real estate market in Texas is to become very useful in the near future.
State of Texas Buy and Sell
This year, participating in the Texas housing market is lucky particularly if the plan is to avail of a stable residence. Currently, the foremost question is what makes state of Texas exceptional as to property buy and sell.
Primary assessment of the Texas property market would show that the construction of cost-efficient homes is stable. All over the country, cities like Houston and Killeen, Texas, (the fifth lease expensive) have been cited in several property market publications signaling the public that Texas is definitely a breeding ground for residential improvement, and so is commercial improvement. Numerous Texas cities have began showing the world a very competitive property market.
US' fourth biggest city, and the biggest city in Texas is Houston. It is a place for several large oil businesses as well as NASA and other aeronautics companies. The demand for the property condition depends on the order of local business and economy. If a large number of local industries do well, then the property values will raise and so does the case with Houston with its flourishing business industries.
Killen, Texas, could as well be a place for you if you consider to permanently situate yourself here. Killeen housing has been nationally recognized since 1994. The city still owns the fifth lowest worth in relation to the Texas property market.
A developing city would mean expected rise in prices for real estates. So it is compulsory for all those concerned to do a thorough evaluation of the market before making a choice. Out there are available basis of knowledge that would help you in making that choice.
Overall, delving into the Texas property scene is highly suggested if you are considering a place for you to live and base a business in. With the fine weather, low property pricing for those nice housing opportunities; it would be one of the finest choices you'll make.
Written by Chandler Smith, a top real estate ace in the Houston and Austin TX areas and Texas licensed real estate appraiser. He runs Houston Real Estate Appraisal along with Austin Appraisal Company
Article Source: http://EzineArticles.com/?expert=R_Chandler_Smith
The US financial system and its state has been a topic of several guesses along with the nation's housing; but from all these, Texas is believed to be the top housing place. This means that purchasers and sellers should be conscious of the usual modifications and most up to date news concerning the housing progress that is ongoing in Texas.
The increase of charges for short-term interests did not prove to be much of a setback for the Texas housing market. With assistance from a low unemployment rate, an overall total of low interest rates and an rise in personal income, spending in the real estate market in Texas is to become very useful in the near future.
State of Texas Buy and Sell
This year, participating in the Texas housing market is lucky particularly if the plan is to avail of a stable residence. Currently, the foremost question is what makes state of Texas exceptional as to property buy and sell.
Primary assessment of the Texas property market would show that the construction of cost-efficient homes is stable. All over the country, cities like Houston and Killeen, Texas, (the fifth lease expensive) have been cited in several property market publications signaling the public that Texas is definitely a breeding ground for residential improvement, and so is commercial improvement. Numerous Texas cities have began showing the world a very competitive property market.
US' fourth biggest city, and the biggest city in Texas is Houston. It is a place for several large oil businesses as well as NASA and other aeronautics companies. The demand for the property condition depends on the order of local business and economy. If a large number of local industries do well, then the property values will raise and so does the case with Houston with its flourishing business industries.
Killen, Texas, could as well be a place for you if you consider to permanently situate yourself here. Killeen housing has been nationally recognized since 1994. The city still owns the fifth lowest worth in relation to the Texas property market.
A developing city would mean expected rise in prices for real estates. So it is compulsory for all those concerned to do a thorough evaluation of the market before making a choice. Out there are available basis of knowledge that would help you in making that choice.
Overall, delving into the Texas property scene is highly suggested if you are considering a place for you to live and base a business in. With the fine weather, low property pricing for those nice housing opportunities; it would be one of the finest choices you'll make.
Written by Chandler Smith, a top real estate ace in the Houston and Austin TX areas and Texas licensed real estate appraiser. He runs Houston Real Estate Appraisal along with Austin Appraisal Company
Article Source: http://EzineArticles.com/?expert=R_Chandler_Smith
Costa Rica Real Estate - 8 Travel Tips for Buying
By Stacey Crevoiserat
When traveling to Costa Rica in search for real estate, there are a number of travel tips you’ll want to keep in mind before you leave home. Costa Rica is a beautiful place and can be the perfect location for your first or second home, so let’s make sure you’re ready and answer a few questions first time visitors usually have.
1. Be Prepared For the Weather! Costa Rica is definitely a tropical country; the average annual temperature for the majority of the country is between 71 and 81 degrees Fahrenheit. The yearly climate is divided into two seasons: the dry season, which is from January through May, and the rainy season, which runs from May to November/December. Some areas receive as much as 18 feet of rain a year!
2. Do I Need A Visa? Costa Rica welcomes tourists and locals typically have a very friendly attitude towards visitors. But first we have to make sure you’ll get in! Most visitors are free to stay in Costa Rica for up to 90 days without a visa (you will of course need your passport). Travelers from The United States, Spain, Canada, Germany and Austria are included. If you are not from one of the previously mentioned countries please check this completed list.
3. How Long Will It Take To Get There? Costa Rica is actually very close to the United States, making it a prime location for Americans to have a vacation home or to invest in real estate. A flight from Miami to San Jose is only two and a half hours. It’s actually even shorter then a flight from N.Y. to San Jose, Costa Rica, then from N.Y. to California!
4. What Airports Are In Costa Rica? Costa Rica currently has two international airports, San Jose’s Juan Santamaria in the Central Valley, and Liberia’s Daniel Odouber in the Northwest region.
5. Is it necessary to speak Spanish? The primary language in Costa Rica is of course Spanish, however it's not totally necessary that you speak the language. Although we do highly recommend it to be able to get the full experience of being in another culture, most tourist areas are generally English speaking and quite easy to communicate and get around in.
6. What Should I Bring? Packing for such an adventure is very important, you want to make sure you have all of the proper amenities to have a successful and enjoyable trip. Some of those things include:
a. Passport, drivers license, cash and traveler’s checks
b. Both beach sandals and hiking/walking shoes, Sunblock, bug repellent, and sunglasses
c. T-Shirts, including a long sleep shirt to protect you from sunburn, both pants and shorts, jacket, baseball cap, and a bag of some kind to keep wet clothes.
d. Extra batteries and film for your cameras, (these may be hard to find in Costa Rica)
7. Taking Photo’s In a Tropical Climate. Costa Rica is very humid, so even when it’s not raining there is plenty of moisture in the air. This often puts visitors camera equipment out of commission. Costa Rica is an absolutely beautiful place to visit and there will be countless photo opportunities on your trip regardless of what kind of visit you have planned, whether it be hiking, site seeing, or real estate shopping. So it’s not a bad idea to first make sure your camera can handle moist environments. Buying a waterproof case for your equipment isn’t a terrible idea.
8. The Costa Rican Property Market. More and more American, European and Canadian investors are being attracted to the real estate market of Costa Rica. It’s a very attractive alternative to the volatile, insecure, and expensive domestic property markets. Land and housing prices in Costa Rica are very affordable, even with the recent real estate boom the prices are yet to reach anywhere near that of the US, UK, or Canada.
For further information about buying real estate in Costa Rica, visit http://www.beachclubcostarica.com
Article Source: http://EzineArticles.com/?expert=Stacey_Crevoiserat
When traveling to Costa Rica in search for real estate, there are a number of travel tips you’ll want to keep in mind before you leave home. Costa Rica is a beautiful place and can be the perfect location for your first or second home, so let’s make sure you’re ready and answer a few questions first time visitors usually have.
1. Be Prepared For the Weather! Costa Rica is definitely a tropical country; the average annual temperature for the majority of the country is between 71 and 81 degrees Fahrenheit. The yearly climate is divided into two seasons: the dry season, which is from January through May, and the rainy season, which runs from May to November/December. Some areas receive as much as 18 feet of rain a year!
2. Do I Need A Visa? Costa Rica welcomes tourists and locals typically have a very friendly attitude towards visitors. But first we have to make sure you’ll get in! Most visitors are free to stay in Costa Rica for up to 90 days without a visa (you will of course need your passport). Travelers from The United States, Spain, Canada, Germany and Austria are included. If you are not from one of the previously mentioned countries please check this completed list.
3. How Long Will It Take To Get There? Costa Rica is actually very close to the United States, making it a prime location for Americans to have a vacation home or to invest in real estate. A flight from Miami to San Jose is only two and a half hours. It’s actually even shorter then a flight from N.Y. to San Jose, Costa Rica, then from N.Y. to California!
4. What Airports Are In Costa Rica? Costa Rica currently has two international airports, San Jose’s Juan Santamaria in the Central Valley, and Liberia’s Daniel Odouber in the Northwest region.
5. Is it necessary to speak Spanish? The primary language in Costa Rica is of course Spanish, however it's not totally necessary that you speak the language. Although we do highly recommend it to be able to get the full experience of being in another culture, most tourist areas are generally English speaking and quite easy to communicate and get around in.
6. What Should I Bring? Packing for such an adventure is very important, you want to make sure you have all of the proper amenities to have a successful and enjoyable trip. Some of those things include:
a. Passport, drivers license, cash and traveler’s checks
b. Both beach sandals and hiking/walking shoes, Sunblock, bug repellent, and sunglasses
c. T-Shirts, including a long sleep shirt to protect you from sunburn, both pants and shorts, jacket, baseball cap, and a bag of some kind to keep wet clothes.
d. Extra batteries and film for your cameras, (these may be hard to find in Costa Rica)
7. Taking Photo’s In a Tropical Climate. Costa Rica is very humid, so even when it’s not raining there is plenty of moisture in the air. This often puts visitors camera equipment out of commission. Costa Rica is an absolutely beautiful place to visit and there will be countless photo opportunities on your trip regardless of what kind of visit you have planned, whether it be hiking, site seeing, or real estate shopping. So it’s not a bad idea to first make sure your camera can handle moist environments. Buying a waterproof case for your equipment isn’t a terrible idea.
8. The Costa Rican Property Market. More and more American, European and Canadian investors are being attracted to the real estate market of Costa Rica. It’s a very attractive alternative to the volatile, insecure, and expensive domestic property markets. Land and housing prices in Costa Rica are very affordable, even with the recent real estate boom the prices are yet to reach anywhere near that of the US, UK, or Canada.
For further information about buying real estate in Costa Rica, visit http://www.beachclubcostarica.com
Article Source: http://EzineArticles.com/?expert=Stacey_Crevoiserat
Finding The Right Real Estate Broker In Miami, Florida
By Vanessa A. Doctor
Any person who has experience with the entire buying or selling process in the real estate market knows how difficult it can be, especially if you do it on your own. People who think that sticking a "for sale" sign in front of their house is enough to get them some potential buyers will find that this notion is far from what actually happens, in fact, this manner of selling is not only ineffective, but is simply an outdated form of selling a real estate property. There are a lot of factors to consider if you want to be able to succeed in your whole buying or selling experience with real estate properties, especially in Miami, Florida. A lot of preparation and planning is needed, as well as a considerable amount of skill and understanding of the real estate market in Miami if you want to succeed in your venture and give you a good real estate experience.
One of the things that people should try to do is to hire the services of a real estate broker, especially for a prime real estate such as Miami, which is considered to be one of the hottest pieces of real estate in the market today. There will be a lot of potential buyers and investors who will be eying your real estate property, so it would be best if you are able to put your best foot forward with this type of transaction, which is why you need the services of a real estate broker, especially since they will be able to supply you with the necessary information to guide you into making the right decision so you can make the most out of the deal.
Real Estate Broker Qualities
Before anything else, you should try to find at least three potential real estate brokers so that you will have more choices, but at the same time have a point of comparison between them. In order to determine if the real estate broker that you are planning on hiring is the right one for the job, you must first determine if he is a licensed real estate broker, just so you can be sure that he has the necessary knowledge and skill that any real estate broker should possess with regards to the real estate market. You need to check if he is in fact a legitimate real estate broker just so you can put your trust in his ability and knowledge.
Another factor that you should check is his experience. Ask about his previous clients and transactions, and check if whether he was able to perform in those dealings in the way that you expect of them. This is also the perfect time for you to ask for referrals and check from other people, more specifically from his former clients, his performance and their satisfaction with his performance.
Since Miami real estate is very well sought after, a lot of offers may come into play when you put your Miami real estate out there in the market. Due to this, you need to make sure that your potential real estate broker knows or has a substantial knowledge and understanding about the real estate market, more specifically, the real estate market in Miami. Having such knowledge will help him better handle the entire buying or selling process of your real estate experience, giving you the best possible transaction for your property.
Miami Real Estate - http://miamirealestateinc.com
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Any person who has experience with the entire buying or selling process in the real estate market knows how difficult it can be, especially if you do it on your own. People who think that sticking a "for sale" sign in front of their house is enough to get them some potential buyers will find that this notion is far from what actually happens, in fact, this manner of selling is not only ineffective, but is simply an outdated form of selling a real estate property. There are a lot of factors to consider if you want to be able to succeed in your whole buying or selling experience with real estate properties, especially in Miami, Florida. A lot of preparation and planning is needed, as well as a considerable amount of skill and understanding of the real estate market in Miami if you want to succeed in your venture and give you a good real estate experience.
One of the things that people should try to do is to hire the services of a real estate broker, especially for a prime real estate such as Miami, which is considered to be one of the hottest pieces of real estate in the market today. There will be a lot of potential buyers and investors who will be eying your real estate property, so it would be best if you are able to put your best foot forward with this type of transaction, which is why you need the services of a real estate broker, especially since they will be able to supply you with the necessary information to guide you into making the right decision so you can make the most out of the deal.
Real Estate Broker Qualities
Before anything else, you should try to find at least three potential real estate brokers so that you will have more choices, but at the same time have a point of comparison between them. In order to determine if the real estate broker that you are planning on hiring is the right one for the job, you must first determine if he is a licensed real estate broker, just so you can be sure that he has the necessary knowledge and skill that any real estate broker should possess with regards to the real estate market. You need to check if he is in fact a legitimate real estate broker just so you can put your trust in his ability and knowledge.
Another factor that you should check is his experience. Ask about his previous clients and transactions, and check if whether he was able to perform in those dealings in the way that you expect of them. This is also the perfect time for you to ask for referrals and check from other people, more specifically from his former clients, his performance and their satisfaction with his performance.
Since Miami real estate is very well sought after, a lot of offers may come into play when you put your Miami real estate out there in the market. Due to this, you need to make sure that your potential real estate broker knows or has a substantial knowledge and understanding about the real estate market, more specifically, the real estate market in Miami. Having such knowledge will help him better handle the entire buying or selling process of your real estate experience, giving you the best possible transaction for your property.
Miami Real Estate - http://miamirealestateinc.com
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Tips On Comparing Real Estate Brokers
By Vanessa A. Doctor
Real estate brokers act primarily as intermediaries, or go-betweens between sellers and buyers of real estate and prime properties, as well finds owners who wish to sell and clients who wish to buy. Real estate agents do not work in exactly the same manner.
The most important attribute of an agent, or broker, is that he/she has deep and well-informed connections to the real estate industry. The broker is expected know the market comprehensively, and provide information on previous sales, current real estate listings, have an effective and workable marketing plan, and at least a number of solid references. It is also imperative to look for a real estate agent that is honest, assertive, and one that fully understands the needs of buyers and sellers.
Real estate brokers and their salespersons in the United States, where they are generally called real estate agents, assist home or property sellers in marketing their assets and selling it for the best possible premium price, and on the best terms.
When acting as a buyer's agent, with a signed or verbal agreement, these individuals assist buyers by helping them purchase property for the lowest possible price under the best terms, and gain a commission after a sale has been concluded. Without a signed agreement however, brokers may assist buyers in the acquisition of property but still represent the seller and the seller's interests. Here's a short comparison of what exactly differs a salesperson, from a licensed broker.
Real estate salesperson:
A person first becomes licensed to become a real estate agent whenever one obtains a real estate salesperson's license from the state in which he/she chooses to practice his craft. For the person to obtain a license, the potential candidate must take specific subjects and required course work, and then must pass a state licensure exam on real estate law and practice. Salespersons should must then be associated with, and act under the authority of a licensed real estate broker
Real estate broker:
After gaining quite a number of years of experience in real estate sales, a salesperson may decide to ramp up and be licensed as a real estate broker. For one to become a full-pledged broker, more course work and a state licensure exam on real estate law must first be passed. When a person obtains a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before, usually referred to as a broker associate or associate broker, or open up his/her own brokerage and hire other salespersons.
How should you choose a good real estate broker?
According to analysts and industry insiders, most home buyers ask friends, relatives, and business associates who have recently bought a house in the area for their recommendations and suggestions. A number of buyers use newspaper advertisements, or simply visit an established realty office.
Some people yet find an agent at an open house. To be sure you find a good agent, interview several real estate brokers from different firms to find out one you're comfortable with. It's like doing comparison shopping. Find out if the agents are familiar with the location you are interested in, how long they have worked in that area, and whether they specialize in a particular type of house or price range.
To be safe, you could try to go with a local broker. They can better serve your needs, are familiar with the local market conditions, knows what the local prices are, and what's hot or not in your community.
Real Estate Press - http://realestatepress.org
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Real estate brokers act primarily as intermediaries, or go-betweens between sellers and buyers of real estate and prime properties, as well finds owners who wish to sell and clients who wish to buy. Real estate agents do not work in exactly the same manner.
The most important attribute of an agent, or broker, is that he/she has deep and well-informed connections to the real estate industry. The broker is expected know the market comprehensively, and provide information on previous sales, current real estate listings, have an effective and workable marketing plan, and at least a number of solid references. It is also imperative to look for a real estate agent that is honest, assertive, and one that fully understands the needs of buyers and sellers.
Real estate brokers and their salespersons in the United States, where they are generally called real estate agents, assist home or property sellers in marketing their assets and selling it for the best possible premium price, and on the best terms.
When acting as a buyer's agent, with a signed or verbal agreement, these individuals assist buyers by helping them purchase property for the lowest possible price under the best terms, and gain a commission after a sale has been concluded. Without a signed agreement however, brokers may assist buyers in the acquisition of property but still represent the seller and the seller's interests. Here's a short comparison of what exactly differs a salesperson, from a licensed broker.
Real estate salesperson:
A person first becomes licensed to become a real estate agent whenever one obtains a real estate salesperson's license from the state in which he/she chooses to practice his craft. For the person to obtain a license, the potential candidate must take specific subjects and required course work, and then must pass a state licensure exam on real estate law and practice. Salespersons should must then be associated with, and act under the authority of a licensed real estate broker
Real estate broker:
After gaining quite a number of years of experience in real estate sales, a salesperson may decide to ramp up and be licensed as a real estate broker. For one to become a full-pledged broker, more course work and a state licensure exam on real estate law must first be passed. When a person obtains a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before, usually referred to as a broker associate or associate broker, or open up his/her own brokerage and hire other salespersons.
How should you choose a good real estate broker?
According to analysts and industry insiders, most home buyers ask friends, relatives, and business associates who have recently bought a house in the area for their recommendations and suggestions. A number of buyers use newspaper advertisements, or simply visit an established realty office.
Some people yet find an agent at an open house. To be sure you find a good agent, interview several real estate brokers from different firms to find out one you're comfortable with. It's like doing comparison shopping. Find out if the agents are familiar with the location you are interested in, how long they have worked in that area, and whether they specialize in a particular type of house or price range.
To be safe, you could try to go with a local broker. They can better serve your needs, are familiar with the local market conditions, knows what the local prices are, and what's hot or not in your community.
Real Estate Press - http://realestatepress.org
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
The Most Expensive Homes In The World
If a lifestyle change is in your cards, there is nothing better to kick it off than by purchasing a new home. But just like everything else, it has to be done with style and inspiration. And nothing beats buying an opulent residence, capable of making your in-laws green with envy and, above all, darn expensive.
There is just such a place, a 103-room mansion spreading out over 58 acres of gardens and woodlands called Updown Court located in Windlesham, Surrey, England. Now, this is quite a home for the extrovert purchaser who is into sports and doesn't mind carrying a little extra mortgage. This particular property offers several ballrooms, an indoor squash court, a two-lane bowling alley and a poolroom just as well. If the wife likes gardening, she will find her pleasures in the 11-acre landscaped and manicured garden, and chatting with fine neighbours the likes of the Duchess of York, Elton John, and, at nearby Windsor Castle, the Queen of England has never been easier.
To impress your friends, the entrance hall features a sweeping dual staircase modeled after one in the late fashion designer Gianni Versace's Miami home. Behind the staircase, a great hall supported by marble columns looks onto an ornamental pond, which holds a fountain that, at the flick of a switch, sprays water 200 feet in the air.
Marble abounds. Five acres of more than 30 different types of imported stone line the floors, driveway, and expansive terraces. One indoor swimming pool is styled as a Roman bath, while another is set off by a two-story stone mosaic depicting a snow-capped Mount Fuji (that would be in Japan ...).
This 50,000 square foot house may be just what you need to escape your daily routine, with its heated marble driveway, 24-carat gold leafing on the mosaic floor of the study, a helipad for your flying trips to the store, the 50-seat indoor movie theather and the underground garage that has enough room to harbor eight limousines. Guests can be lodged in anyone of the 23 bedrooms but really - and in my professional view this is perhaps the most important bonus - the cost of upkeeping is a modest USD 2 million per year.
Conveniently priced at USD 138 million (that's right, million with a "m" as in Mary), this is no doubt Luigi's hand-picked bargain of the year. And the added plus is that it can be paid for also in Sterlings - now, who could ask for anything more. Just the perfect place to drop your darn Yankee accent ... yeah.
If, on the other hand, you do not wish to leave North America and like horses, may I suggest the Hala Ranch to your otherwise inquisitive attention. The Hala Ranch - as one can intuitively deduct from the name - is the property of Prince Bandar bin Sultan bin Abdul Aziz Al Saud (but make an offer and you can call him Al). The Prince, who used to be the Saudi ambassador to the United States, is selling as he has taken up the position of National Security Counselor back in Saudi Arabia. This 56,000 square feet home is just what you need if you are looking for a little country dйcor, peace and tranquility. The estate has its own wastewater treatment plant thus allowing you to save on sewer charges, and a mechanical shop with its own gasoline pumps and carwash. Cross-country ski trails are maintained throughout the property. The centerpiece lodge of the estate is larger than the White House, so if Hillary wins you are going to make her green with envy too. It is built in a rustic style, with massive timber beams and stone columns, and contains 15 bedrooms, all with patios, and 16 bathrooms, just in case one gets all clogged up.
Conservatively priced at USD 134 million, this is an opportunity one can hardly afford to pass. Trust me on this one, or my name is not Luigi ...
Have you ever considered relocating to Turkey? I'm asking because, as you know, although still in Asia (Asia Minor, to be exact) Turkey is poised to become Europe in the not too distant future. The perfect Europe, one might add - without the Europeans ... But really, if you wish to cultivate your talent for archaeology and ancient history there is nothing better than this 30,000 square foot residence overlooking the Bosphorus in Istanbul, Turkey, (Europe). Sited on three-quarters of an acre, the Waterfront Estate offers opulent living with its 64 rooms, which feature large windows looking to the water. You can even fish from your bedroom. This mansion boasts not only gilded mouldings and crystal chandeliers, but it even has a rare quay that is nearly 200-feet long (as I said, you can fish from the bedroom). If you need a boat, the Turks can rent you one for about 1 Euro an hour.
Presently offered for sale for USD 100 million, there is a little room for negotiations here. Sorry, only American Dollars accepted by way of cash, Visa or Mastercard or, of course, debit card.
How about a pied-a-terre in none other than New York City for your week-end leisurely trips? Or for your next New Years Eve in the Big Apple, close to Time Square? Think about it, you wouldn't have to watch it on CNN anymore. If this is the case, may I recommend The Pierre Penthouse, a chateau in the sky that occupies the top three floors of one of the poshest hotels in New York City, right abutting Central Park. Guess the price, just guess it - USD 70 million! Now, this is what I call cheap, cheap, cheap! The original 3,500-square foot ballroom boasts a 23-foot high ceiling, and on each of the two west-facing corners, soaring French doors open up onto terraces offering breathtaking views of Central Park and beyond. The master bedroom suite has two additional corner terraces so that, all in all, the balconies and windows have 360 degree views of Manhattan, Central Park, the East River and the Hudson River. And, with an annual maintenance fee of USD 464,600 which includes the services of a uniformed housekeeper and houseman (yes, I know, I didn't believe it myself), this is a true deal in the making. Hurry, it won't last.
Luigi Frascati
Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.
Article Source: http://EzineArticles.com/?expert=Luigi_Frascati
There is just such a place, a 103-room mansion spreading out over 58 acres of gardens and woodlands called Updown Court located in Windlesham, Surrey, England. Now, this is quite a home for the extrovert purchaser who is into sports and doesn't mind carrying a little extra mortgage. This particular property offers several ballrooms, an indoor squash court, a two-lane bowling alley and a poolroom just as well. If the wife likes gardening, she will find her pleasures in the 11-acre landscaped and manicured garden, and chatting with fine neighbours the likes of the Duchess of York, Elton John, and, at nearby Windsor Castle, the Queen of England has never been easier.
To impress your friends, the entrance hall features a sweeping dual staircase modeled after one in the late fashion designer Gianni Versace's Miami home. Behind the staircase, a great hall supported by marble columns looks onto an ornamental pond, which holds a fountain that, at the flick of a switch, sprays water 200 feet in the air.
Marble abounds. Five acres of more than 30 different types of imported stone line the floors, driveway, and expansive terraces. One indoor swimming pool is styled as a Roman bath, while another is set off by a two-story stone mosaic depicting a snow-capped Mount Fuji (that would be in Japan ...).
This 50,000 square foot house may be just what you need to escape your daily routine, with its heated marble driveway, 24-carat gold leafing on the mosaic floor of the study, a helipad for your flying trips to the store, the 50-seat indoor movie theather and the underground garage that has enough room to harbor eight limousines. Guests can be lodged in anyone of the 23 bedrooms but really - and in my professional view this is perhaps the most important bonus - the cost of upkeeping is a modest USD 2 million per year.
Conveniently priced at USD 138 million (that's right, million with a "m" as in Mary), this is no doubt Luigi's hand-picked bargain of the year. And the added plus is that it can be paid for also in Sterlings - now, who could ask for anything more. Just the perfect place to drop your darn Yankee accent ... yeah.
If, on the other hand, you do not wish to leave North America and like horses, may I suggest the Hala Ranch to your otherwise inquisitive attention. The Hala Ranch - as one can intuitively deduct from the name - is the property of Prince Bandar bin Sultan bin Abdul Aziz Al Saud (but make an offer and you can call him Al). The Prince, who used to be the Saudi ambassador to the United States, is selling as he has taken up the position of National Security Counselor back in Saudi Arabia. This 56,000 square feet home is just what you need if you are looking for a little country dйcor, peace and tranquility. The estate has its own wastewater treatment plant thus allowing you to save on sewer charges, and a mechanical shop with its own gasoline pumps and carwash. Cross-country ski trails are maintained throughout the property. The centerpiece lodge of the estate is larger than the White House, so if Hillary wins you are going to make her green with envy too. It is built in a rustic style, with massive timber beams and stone columns, and contains 15 bedrooms, all with patios, and 16 bathrooms, just in case one gets all clogged up.
Conservatively priced at USD 134 million, this is an opportunity one can hardly afford to pass. Trust me on this one, or my name is not Luigi ...
Have you ever considered relocating to Turkey? I'm asking because, as you know, although still in Asia (Asia Minor, to be exact) Turkey is poised to become Europe in the not too distant future. The perfect Europe, one might add - without the Europeans ... But really, if you wish to cultivate your talent for archaeology and ancient history there is nothing better than this 30,000 square foot residence overlooking the Bosphorus in Istanbul, Turkey, (Europe). Sited on three-quarters of an acre, the Waterfront Estate offers opulent living with its 64 rooms, which feature large windows looking to the water. You can even fish from your bedroom. This mansion boasts not only gilded mouldings and crystal chandeliers, but it even has a rare quay that is nearly 200-feet long (as I said, you can fish from the bedroom). If you need a boat, the Turks can rent you one for about 1 Euro an hour.
Presently offered for sale for USD 100 million, there is a little room for negotiations here. Sorry, only American Dollars accepted by way of cash, Visa or Mastercard or, of course, debit card.
How about a pied-a-terre in none other than New York City for your week-end leisurely trips? Or for your next New Years Eve in the Big Apple, close to Time Square? Think about it, you wouldn't have to watch it on CNN anymore. If this is the case, may I recommend The Pierre Penthouse, a chateau in the sky that occupies the top three floors of one of the poshest hotels in New York City, right abutting Central Park. Guess the price, just guess it - USD 70 million! Now, this is what I call cheap, cheap, cheap! The original 3,500-square foot ballroom boasts a 23-foot high ceiling, and on each of the two west-facing corners, soaring French doors open up onto terraces offering breathtaking views of Central Park and beyond. The master bedroom suite has two additional corner terraces so that, all in all, the balconies and windows have 360 degree views of Manhattan, Central Park, the East River and the Hudson River. And, with an annual maintenance fee of USD 464,600 which includes the services of a uniformed housekeeper and houseman (yes, I know, I didn't believe it myself), this is a true deal in the making. Hurry, it won't last.
Luigi Frascati
Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.
Article Source: http://EzineArticles.com/?expert=Luigi_Frascati
Monday, October 8, 2007
Invest In Costa Blanca Property and Double Your Money
Blessed with an excellent climate and endless kilometres of golden sands, Costa Blanca offers an ideal destination for holidaymakers and second home owners in Spain. Costa Blanca property refers to the coastline on the East of Spain which runs from Gandia in the north down to Murcia in the south. With its well-known resorts like Javйa, Dйnia, Calpe and Benidorm, lazy beeches, low-cost restaurants and pubs, this coast line region tops the list of the hottest holiday destinations. With more than 3,000 hours of sunshine annually and mild rainfall between April and September, Costa Blanca boasts of being one of the great attractions for holiday makers in Spain. Average temperatures in the place during summer revolve around 30 degrees but as you move south towards Murcia; the climate becomes drier and hotter. Swimming in such weather in Murcia's Mar Menor is like enjoying a warm bath. In winter temperatures fluctuates between 15 to 20 degrees; but the sunshine makes the day pleasant.If you are a Brit or a German with the habit of escaping in to the warmth of Costa Blanca, you can now think of buying a property there. It can be like killing two birds with one stone. You can save the amount you pay on hotel rents each time you go for vacationing there. At the same time, it can be highly prospective investment to have a place in Costa Blanca property. Your money may be doubled within no time. From apartments and townhouses to villas and rural homes, there is a large variety of property for sale in Costa Blanca. Since the terrain in this place are hilly, you may often have sea views from inland properties; but you should be ready ton pay more to enjoy such a luxury. Overall, accommodations in Costa Blanca property are cheaper; at least cheaper than Costa del Sol. So, instead of losing money on hotels rents, you can consider to buy your own accommodation.
Brittney Jackline is a well known professional writer. She has won appreciation especially for good writing about the Spanish Real Estate topics like Costa Blanca property,Spanish Property etc.
Article Source: http://www.articlebiz.com/
Brittney Jackline is a well known professional writer. She has won appreciation especially for good writing about the Spanish Real Estate topics like Costa Blanca property,Spanish Property etc.
Article Source: http://www.articlebiz.com/
Timeshares
Timeshares are a fabulous method in owning a piece of property in a vacation type setting. It is an inexpensive way to own property and a home with other individuals. These are becoming more popular in resent years. A person is able to own a piece of land and a home in a fabulous destination and only pay a quarter of the cost. There are various types of timeshares an individual can take part in. These may include the traditional condos and vacation homes however some may also include RVs and large boats. An individual usually locates a company and they will find other interested parties to bring together. Nevertheless, newspaper ads and internet resources may also be a fabulous method in finding timeshares that fits a person's desires.Timeshares are a completely legal venture. However, there are some shady characters that use this method for under handled dealings. It is an excellent suggestion to research the company a person is thinking about investing in before they do so. An individual works hard for their money; they do not want to not have anything in the end to show for it. There are helpful tips and suggestions for this type of venture around the internet. It is simple to find and will save an individual time, money and energy.When an individual purchases points into timeshares various things can happen. A person may choose to use all of their points for one year. The point system is determined by how many people are in the ownership and how much money is involved. An individual can choose to do whatever they wish with their points. A person may choose to rent out their time that year to other people. They may choose to give it to someone. An individual could decide to save all the points for next year and have 2 weeks instead of one. It is all up to the contract and the person who purchased their timeshares.Timeshares are a fantastic method in obtaining a wonderful vacation retreat. Even though certain individual's time to scam money out of people, these tidbits of heaven can be a person's dream come true. Not many individuals can purchase a fabulous vacation home or set sail for a week cruise. Timeshares ventures can assist an average person the freedom to live like royalty for at least a week or two during the year.
P Abbey owns and operates http://www.timesharesworld.com timeshares
Article Source: http://www.ArticleBiz.com
P Abbey owns and operates http://www.timesharesworld.com timeshares
Article Source: http://www.ArticleBiz.com
Learn The Foreclosure Process And Discover Helpful Tips To Avoid Foreclosure
Foreclosures are occurring at an alarming rate and have been for quite some time. No one likes to talk about losing their home, but the fact is, more and more Americans are in fact, in foreclosure or have already lost their home.Need some advice on avoiding foreclosure?Here is some general information about foreclosures.Several states have a record number of foreclosures, such as Arkansas, Arizona, Colorado, California, Florida, Illinois, Massachusetts, Maryland, Michigan, New York, New Jersey, Ohio, Texas, Utah, Virginia, and Wisconsin.CNN Money reports that adjustable-rate mortgages, especially mortgages that are considered, sub-prime adjustable rate mortgages, continue to contribute to foreclosures.According to the San Francisco Chronicle, Americans borrowed $2.2 trillion dollars through attractive adjustable rate mortgages between 2004 and 2006.These adjustable rate mortgages were hard to pass up with low monthly payments.However, all good things seem to have to come to an end and they certainly have. Experts explain that these adjustable rate mortgages need to reset themselves in order to make up for the difference through higher rates, which means a higher mortgage payment.You don't need to be an expert in real estate to figure out that when the banks significantly raise someone's mortgage payment, you are going to see many foreclosures.It's also predicted that as these mortgage loans reset, 1.11 million homeowners will lose their homes. This prediction was reported following a study completed by First American CoreLogic, a firm that documents home mortgage risks.If you fail to make a payment by the due date, the lender has every right to start the foreclosure proceedings. Many banks will allow you a "grace period," so as not to start any foreclosure process.After a certain period of time, the lender will send you a certified letter stating that your loan is in default. Included will be any penalties and any unpaid mortgage totals. It is important that you contact the lender to try and work out a plan to pay the bank back.Banks are not in the business of owning homes; banks are in the business of lending money. Banks do not want the house back! Contact them and try to work out an agreement to pay them back the unpaid payments.Your loan will likely be reinstated if you bring the mortgage back to good standing if you pay back any outstanding mortgage payments and fees.If the lender has given you the allotted time to make the loan current, and you cannot make the payments, the loan will still be considered in default and there will be a scheduled auction.Following the auction, if there is any money still owed to the lender, the homeowner may be required to pay those debts owed. If there is money left over from the auction, that amount of money will go to the foreclosed homeowner, if all of the fees have been paid to the lender.
With any court foreclosures, the sheriff carries out the sale, which is about 45 days after the county clerk orders the sale. The auction is open to the public which means anyone who has the available funds, may bid on the foreclosed property.Generally, the accepted bid must be paid to the sheriff no later than 5:00 P.M. on the day of or the day after the auction.A certificate is issued following the foreclosure sale. If the property is not abandoned at the time of the sale up to the next six months, this is known as the redemption period. Some states will allow the borrower to redeem the property. Any secondary lender may redeem the property within a certain amount of time. In order to redeem the property, the total amount owed including any fees, must be paid.If there isn't anyone who redeems the property, the sheriff will then transfer the ownership to the winning bidder at the time of the foreclosure auction.With Out of Court Trustee Sales, notice of the sale is noted which includes the property description, date, time, place, etc. The auction notice is then recorded with the county.The trustee mails the notice to all interested parties. This notice is sent out three months before the sale date and will be published in the local newspaper.No less than 20 days before the sale, the foreclosure auction notice is posted on the property and the county courthouse.The day before the sale is scheduled to take place and leading up to the sale, the trustee must provide the opening bid of the sale to anyone who inquires about the sale. If not, the sale might have to be delayed for a short period of time.Out of Court foreclosure sales require every bidder to provide a refundable $10,000 deposit in order to bid. The trustee keeps the deposit of the individual with the winning bid.The winning bidder has until 5:00 P.M. by the next day to pay his/her bid price.Following the sale, the trustee then transfers ownership of the foreclosed property within seven days. The proceeds of the sale are paid directly to the primary lender, then to any secondary lenders that exist.There is no right of redemption following Out of Court foreclosure sales.Bank foreclosures have occurred in record numbers. If you are an investor, your'e likely to find foreclosures all around the U.S.Will foreclosures decline in numbers? Only time will tell.The information provided here within, is not considered professional legal advice. It is always recommended that you seek professional legal advice such as a local real estate attorney.
Cecilia Valenzuela is a full time entrepreneur and supporter of small businesses. Cecilia Valenzuela works with entrepreneurs who are also following their online dreams. Cecilia Valenzuela is a successful business entrepreneur who encourages other online business owners. More information about foreclosures including additional tips to avoid foreclosures, is available at:http://www.My-Arizona-Desert-Living.com/Arizona-Foreclosures.html
Article Source: http://www.ArticleBiz.com
With any court foreclosures, the sheriff carries out the sale, which is about 45 days after the county clerk orders the sale. The auction is open to the public which means anyone who has the available funds, may bid on the foreclosed property.Generally, the accepted bid must be paid to the sheriff no later than 5:00 P.M. on the day of or the day after the auction.A certificate is issued following the foreclosure sale. If the property is not abandoned at the time of the sale up to the next six months, this is known as the redemption period. Some states will allow the borrower to redeem the property. Any secondary lender may redeem the property within a certain amount of time. In order to redeem the property, the total amount owed including any fees, must be paid.If there isn't anyone who redeems the property, the sheriff will then transfer the ownership to the winning bidder at the time of the foreclosure auction.With Out of Court Trustee Sales, notice of the sale is noted which includes the property description, date, time, place, etc. The auction notice is then recorded with the county.The trustee mails the notice to all interested parties. This notice is sent out three months before the sale date and will be published in the local newspaper.No less than 20 days before the sale, the foreclosure auction notice is posted on the property and the county courthouse.The day before the sale is scheduled to take place and leading up to the sale, the trustee must provide the opening bid of the sale to anyone who inquires about the sale. If not, the sale might have to be delayed for a short period of time.Out of Court foreclosure sales require every bidder to provide a refundable $10,000 deposit in order to bid. The trustee keeps the deposit of the individual with the winning bid.The winning bidder has until 5:00 P.M. by the next day to pay his/her bid price.Following the sale, the trustee then transfers ownership of the foreclosed property within seven days. The proceeds of the sale are paid directly to the primary lender, then to any secondary lenders that exist.There is no right of redemption following Out of Court foreclosure sales.Bank foreclosures have occurred in record numbers. If you are an investor, your'e likely to find foreclosures all around the U.S.Will foreclosures decline in numbers? Only time will tell.The information provided here within, is not considered professional legal advice. It is always recommended that you seek professional legal advice such as a local real estate attorney.
Cecilia Valenzuela is a full time entrepreneur and supporter of small businesses. Cecilia Valenzuela works with entrepreneurs who are also following their online dreams. Cecilia Valenzuela is a successful business entrepreneur who encourages other online business owners. More information about foreclosures including additional tips to avoid foreclosures, is available at:http://www.My-Arizona-Desert-Living.com/Arizona-Foreclosures.html
Article Source: http://www.ArticleBiz.com
Advice on Buying Brazil Property
Brazil is the fifth largest country in the world with many diverse attractions from its famed rain forest, the Amazon River, 1300 meter plus mountain peeks, and a coastline that stretches for 4500 miles and with Rio de Janeiro it incorporates one of the world's most famous cities renowned for its famed carnival.
Most Europeans will tend to purchase their property within the southern coastal areas but the whole of Brazil is open to property purchase by foreign nationals as there are now no restrictions on foreign nationals purchasing property in Brazil.
To start the property purchase procedure you will first of all need to apply to the Brazilian Consulate in your own country for a translation of your birth certificate into Portuguese by a certified translator, and then legalised by the Consulate. It is advisable to do this before you travel to Brazil as this will be your first stage of your property purchase. Having arrived in Brazil and found the property you wish to purchase you then need to apply for a Brazilian ID known as a CPF. With your Certified Birth Certificate and Passport you go to the Banco do Brazil and for a small fee you can formally apply for your CPF. The following day you can go to the Receita Federal to collect your assigned CPF number, your CPF card is then sent to you within 2 months to your new address.
In all cases we recommend that you use a registered estate agent to ensure a smooth transaction. They will help you every step of the way, checking that the documentation is correct and that there are no debts on the property, and ensuring that the price you pay is correct and fair.
Your agent will prepare the "Sale of Property Contract" having first got the sellers details, the purchaser's details and the specifications of the property that is being purchased. Also included are the payment details. Upon a deposit of 10000 Reais, (to secure the property) the property purchase contract is then signed at your agent's office. Your agent will then take the contact to a Caterio (Notary) to get the property registered in your name. You will be expected to pay a property transfer tax, between 4-5 and there is also a 1 of the property value and if not resident you have to appoint a person to oversee the property whilst you are not there. These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.
John Everitt is a consultant to Globespan European property portal. Please visit our estate agents directory and this Brazil property buyer's guide
Article Source: http://www.ArticleBiz.com
Most Europeans will tend to purchase their property within the southern coastal areas but the whole of Brazil is open to property purchase by foreign nationals as there are now no restrictions on foreign nationals purchasing property in Brazil.
To start the property purchase procedure you will first of all need to apply to the Brazilian Consulate in your own country for a translation of your birth certificate into Portuguese by a certified translator, and then legalised by the Consulate. It is advisable to do this before you travel to Brazil as this will be your first stage of your property purchase. Having arrived in Brazil and found the property you wish to purchase you then need to apply for a Brazilian ID known as a CPF. With your Certified Birth Certificate and Passport you go to the Banco do Brazil and for a small fee you can formally apply for your CPF. The following day you can go to the Receita Federal to collect your assigned CPF number, your CPF card is then sent to you within 2 months to your new address.
In all cases we recommend that you use a registered estate agent to ensure a smooth transaction. They will help you every step of the way, checking that the documentation is correct and that there are no debts on the property, and ensuring that the price you pay is correct and fair.
Your agent will prepare the "Sale of Property Contract" having first got the sellers details, the purchaser's details and the specifications of the property that is being purchased. Also included are the payment details. Upon a deposit of 10000 Reais, (to secure the property) the property purchase contract is then signed at your agent's office. Your agent will then take the contact to a Caterio (Notary) to get the property registered in your name. You will be expected to pay a property transfer tax, between 4-5 and there is also a 1 of the property value and if not resident you have to appoint a person to oversee the property whilst you are not there. These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.
John Everitt is a consultant to Globespan European property portal. Please visit our estate agents directory and this Brazil property buyer's guide
Article Source: http://www.ArticleBiz.com
Buying A Holiday Apartment
Buying a holiday apartment is a decision many of us will make when looking to invest in property, particularly in property abroad, or as we approach retirement. Unfortunately, it is often quite difficult to find the right holiday apartment for your needs at the right budget, and this can often be the cause of hassle and a lengthy search. Estate agents seem less than helpful, and when you're trying to get to grips with foreign law, it can sometimes seem like an overwhelming task. In fact, there are many ways in which you can make the process of buying a holiday apartment easier, and a more enjoyable experience for you and your family. In this article we will look at what to look for when buying a holiday apartment, and the ways you can ensure it goes as smoothly as possible.
When buying a holiday apartment, the first thing to consider is the location. As many in the industry say, location, location, location is the key to finding a property with lasting value, both in terms of the open market and in terms of providing you with the value you require. Location in the first instance requires you to think about where you want to vacation for the rest of your life. After all, with a holiday apartment you're going to have to go there frequently to make use of your investment. Alternatively, a good way to think about it may be to select a place that is constantly buzzing with tourists, to allow you to generate a revenue stream from your property when you're not there. There are plenty letting agents abroad that would gladly handle your rental property throughout the year, making it an ideal investment, both financially and in terms of giving you a relaxing retreat.
When buying a holiday apartment it is crucial to find an English speaking real estate agent. This shouldn't be too difficult, given that even in European countries English is spoken widely, and is used as a language of business and trade. By locating an English speaking agent, you will be able to get to the bottom of all your concerns throughout the buying process, to make for a smoother transaction with less unexpected costs at the end of the day. Additionally, you should ensure the agent comes across as being open and honest, and never be afraid to ask pressing questions before you buy.
Buying a holiday apartment should be an enjoyable experience for you and your family, and you should be able to find somewhere to relax and unwind in your spare time. In spite of that it can often be a minefield, littered with problems and costly delays, resulting in an awkward, complicated purchase. However, by using the tips in this article, you should be able to find the right apartment for you, regardless of the obstacles that may, and inevitably will crop up through your transaction, and you will also be better placed to deal with those undesirable circumstances as they arise.
The author Majid Siddique writes for luxury apartments. For more information about 5 star apartments, vacation apartments and apartments rentals please visit apartmentretreats.com.
Article Source: http://www.ArticleBiz.com
When buying a holiday apartment, the first thing to consider is the location. As many in the industry say, location, location, location is the key to finding a property with lasting value, both in terms of the open market and in terms of providing you with the value you require. Location in the first instance requires you to think about where you want to vacation for the rest of your life. After all, with a holiday apartment you're going to have to go there frequently to make use of your investment. Alternatively, a good way to think about it may be to select a place that is constantly buzzing with tourists, to allow you to generate a revenue stream from your property when you're not there. There are plenty letting agents abroad that would gladly handle your rental property throughout the year, making it an ideal investment, both financially and in terms of giving you a relaxing retreat.
When buying a holiday apartment it is crucial to find an English speaking real estate agent. This shouldn't be too difficult, given that even in European countries English is spoken widely, and is used as a language of business and trade. By locating an English speaking agent, you will be able to get to the bottom of all your concerns throughout the buying process, to make for a smoother transaction with less unexpected costs at the end of the day. Additionally, you should ensure the agent comes across as being open and honest, and never be afraid to ask pressing questions before you buy.
Buying a holiday apartment should be an enjoyable experience for you and your family, and you should be able to find somewhere to relax and unwind in your spare time. In spite of that it can often be a minefield, littered with problems and costly delays, resulting in an awkward, complicated purchase. However, by using the tips in this article, you should be able to find the right apartment for you, regardless of the obstacles that may, and inevitably will crop up through your transaction, and you will also be better placed to deal with those undesirable circumstances as they arise.
The author Majid Siddique writes for luxury apartments. For more information about 5 star apartments, vacation apartments and apartments rentals please visit apartmentretreats.com.
Article Source: http://www.ArticleBiz.com
Setting A Fair Price In Sale By Owner
Selling your home by owner means that you need to set a fair asking price. Not only should the asking price suit your needs, but it should also attract potential buyers as well. You will find out soon enough that if you priced your home too high that people are going to stay away. This does not mean that you should set a below market value, but you should price your property fairly.
Of course, there are times when you may feel that lowering your asking price is the thing to do. If you are faced with this decision, there are several things that you should look at. First off, how did you price your home in the first place? Did you base this on other homes in your area? Or did you decide to do this without any prior knowledge? If you priced your home fairly the first time around based on comparable properties, you may not want to lower your price. But if you did not do this, it may be time to make a change. Remember, if your asking price is scaring buyers off you are going to stay put for a long, long time.
It is not always easy to lower the asking price of any home. After all, this means that you are not going to get nearly as much money when you make a sale. But instead of looking at this as a bad thing, take a closer gander at the other side of the situation. The quicker that you sell your home the fewer carrying costs you are going to be responsible for. So in the long run, there is a very good chance that things are going to work out in your favor. There are many reasons that you may need to lower your asking price when selling your home by owner. This is not to say that you should jump the gun, but if buyers are turned off, you may want to consider this. But remember, you do not need to greatly lower your asking price. A few thousand dollars may be all that you need in order to attract a larger buyer base. Overall, your asking price has a lot to do with how quick you sell your home as well how many inquiries you receive.
Article Source: http://www.articlesbase.com/real-estate-articles/setting-a-fair-price-in-sale-by-owner-228955.html
Of course, there are times when you may feel that lowering your asking price is the thing to do. If you are faced with this decision, there are several things that you should look at. First off, how did you price your home in the first place? Did you base this on other homes in your area? Or did you decide to do this without any prior knowledge? If you priced your home fairly the first time around based on comparable properties, you may not want to lower your price. But if you did not do this, it may be time to make a change. Remember, if your asking price is scaring buyers off you are going to stay put for a long, long time.
It is not always easy to lower the asking price of any home. After all, this means that you are not going to get nearly as much money when you make a sale. But instead of looking at this as a bad thing, take a closer gander at the other side of the situation. The quicker that you sell your home the fewer carrying costs you are going to be responsible for. So in the long run, there is a very good chance that things are going to work out in your favor. There are many reasons that you may need to lower your asking price when selling your home by owner. This is not to say that you should jump the gun, but if buyers are turned off, you may want to consider this. But remember, you do not need to greatly lower your asking price. A few thousand dollars may be all that you need in order to attract a larger buyer base. Overall, your asking price has a lot to do with how quick you sell your home as well how many inquiries you receive.
Article Source: http://www.articlesbase.com/real-estate-articles/setting-a-fair-price-in-sale-by-owner-228955.html
Renting An Apartment After Foreclosure
This article is for those homeowners who have decided that they can not keep their current home and are seeking to move on, instead of trying to work out a solution that will stop foreclosure. The situation may be due to a new job in another state that requires a move, a precipitous drop in income that is expected to last long-term, or other circumstances. Because of their poor credit from the foreclosure and falling behind in other debts, however, these homeowners may have a difficult time being able to rent an apartment and start their lives over. Most landlords will not want to discover the fact that the homeowners are currently behind on their mortgage payments or had faced a very recent foreclosure. That will indicate to them that the apartment applicants do not take their housing payment obligations very seriously, and may pay the rent late or not at all. The foreclosure victims will have to find a way around the credit check, if they are serious about renting an apartment and proving their financial integrity.
One way they can do this is to find a landlord that they know, or talk to someone (friends/family) in the area that in which they want to move, and ask if they know of anyone that would allow apartment rentals without a credit check. The key is for the homeowners to let the potential landlord know that their credit is not great at the present time, and that they are not willing to damage it even further with more inquiries, but that they want to have an opportunity to start recovering their financial situation. A lot of landlords will be reasonable if the situation is explained to them very clearly, and if the former homeowners make a good first impression.
If the foreclosure victims do not know any friendly contacts in the area, though, they will have to offer the landlord an incentive to decide not to pull their credit histories and discover the late payments and foreclosure. For this purpose, they can offer an extra amount as a security deposit, or offer to pay an extra 2-3 months rent up-front, in exchange for the landlord not conducting a credit check. The offer of more money is a very powerful incentive for landlords, as they will be able to use the extra resources for current projects and investments. If the former homeowners need a "cover story" to explain their unwillingness to have their credit pulled, they can use the one in the paragraph above, or simply inform the landlord that they are very private and do not want to give out their social security number and financial information to anyone, since they have been a victim of identity theft in the past. This can be useful to explain their poor credit situation as well as the reason they can not give away any personal information that can be used to pull a credit report. Extra cash in the form of a security deposit or extra rent will usually help the landlord see things from the foreclosure victims' perspective.
The important point is to concentrate on the desire for personal and financial privacy, or the homeowners' intention to begin repairing their credit because of recent, unavoidable financial hardships. As well, it helps to offer the landlord a reason to trust them at their word. These tactics should take care of many of the problems for foreclosure victims attempting to rent an apartment after facing foreclosure, although they may have to speak with several different landlords who will lend an understanding ear in this situation. Money talks, though, and most landlords, for the right price, can be persuaded not to pull a credit report on applicants.
It is unfortunate that not all homeowners are able to save their homes from foreclosure, but each situation is different and needs to be dealt with in the homeowners' best interests. When there are no options left to prevent the foreclosure, or the foreclosure victims do not want not keep the property but can not unload it due to market conditions, adding another level of problems in trying to rent a new apartment just continues the humiliation and rejection that so define foreclosure situations. But even in these cases, with a small amount of planning and the addition of a few financial incentives, the homeowners can get a fresh start and gain some control back over their financial lives.
By: Nick Adama
Article Directory: http://www.articledashboard.com
One way they can do this is to find a landlord that they know, or talk to someone (friends/family) in the area that in which they want to move, and ask if they know of anyone that would allow apartment rentals without a credit check. The key is for the homeowners to let the potential landlord know that their credit is not great at the present time, and that they are not willing to damage it even further with more inquiries, but that they want to have an opportunity to start recovering their financial situation. A lot of landlords will be reasonable if the situation is explained to them very clearly, and if the former homeowners make a good first impression.
If the foreclosure victims do not know any friendly contacts in the area, though, they will have to offer the landlord an incentive to decide not to pull their credit histories and discover the late payments and foreclosure. For this purpose, they can offer an extra amount as a security deposit, or offer to pay an extra 2-3 months rent up-front, in exchange for the landlord not conducting a credit check. The offer of more money is a very powerful incentive for landlords, as they will be able to use the extra resources for current projects and investments. If the former homeowners need a "cover story" to explain their unwillingness to have their credit pulled, they can use the one in the paragraph above, or simply inform the landlord that they are very private and do not want to give out their social security number and financial information to anyone, since they have been a victim of identity theft in the past. This can be useful to explain their poor credit situation as well as the reason they can not give away any personal information that can be used to pull a credit report. Extra cash in the form of a security deposit or extra rent will usually help the landlord see things from the foreclosure victims' perspective.
The important point is to concentrate on the desire for personal and financial privacy, or the homeowners' intention to begin repairing their credit because of recent, unavoidable financial hardships. As well, it helps to offer the landlord a reason to trust them at their word. These tactics should take care of many of the problems for foreclosure victims attempting to rent an apartment after facing foreclosure, although they may have to speak with several different landlords who will lend an understanding ear in this situation. Money talks, though, and most landlords, for the right price, can be persuaded not to pull a credit report on applicants.
It is unfortunate that not all homeowners are able to save their homes from foreclosure, but each situation is different and needs to be dealt with in the homeowners' best interests. When there are no options left to prevent the foreclosure, or the foreclosure victims do not want not keep the property but can not unload it due to market conditions, adding another level of problems in trying to rent a new apartment just continues the humiliation and rejection that so define foreclosure situations. But even in these cases, with a small amount of planning and the addition of a few financial incentives, the homeowners can get a fresh start and gain some control back over their financial lives.
By: Nick Adama
Article Directory: http://www.articledashboard.com
Tips in Making Quick Sale in Miami Real Estate
How can one sell its home at Miami real estate? What are the things that one should do in order to make a fast sale?
Selling a home in Miami real estate is not as simple as putting ‘home for sale’ at your yard. You can’t have the best out of your money and you can’t have the best offer faster if you do not do ways in order to make sure that you can make a sale and to gain the best deal.
In planning to sell your home, you have to consider certain factors and you need to do certain improvements to make it happen. Yes, there are factors and improvements that should be done in order to make sure that you will gain the best deal out of your home.
Working with a real estate agent can aid you with the factors to consider and with the improvements to be done to make your home attractive enough to catch the attention of the buyers. But you have to ask for recommendations from your trusted ones, maybe from family or friends in order to make sure that you will be working with a professional real estate agent.
Definitely, your real estate agent will ask you to make improvements with your home. If your walls are faded already, your real estate agent will ask you to repaint it in order to make it attractive and appealing. In choosing paint for your walls and doors, you have to choose earth tone color such as cream. You have to consider the buyers and not your own tastes. You have to clean up the walls and doors with soap and water first before repainting in order to remove the dirt.
Your real estate agent will let you clean up the whole house, check out every room and remove the mess. You also have to make sure that your home is free from unpleasing odors, cleaning up the carpets, curtains and towel can help you remove the unpleasing odors.
Clean up the bathroom and kitchen, make sure that it’s shiny and mess free. You also have to look if there are any leaks, if there is, make sure to let someone fix it up.
Look at the yard and clean it as well. Clean the gutter too. It is better to plant flowers, since these can attract buyers.
Decorate the home in order to make it attractive and eye-catching but you have to make it simple but modern of course. Do not over decorate, this will just make the home crowded. You have to make the home spacious but not empty, just put few but attractive decors and furniture.
Making home improvements is not the only thing you need to consider, you also have to consider the asking price. You have to make an asking price, a reasonable and realistic one. Your real estate agent will help you in making the right asking price. The real estate agent will visit few home that are similar with yours and ask for there prices and base it from there.
In order to make a quick sale and to gain the best deal out of your home in Miami real estate, you have to consider these factors mentioned earlier.
Eliza Maledevic Ayson http://www.miami-realestate.net
Eliza Maledevic writes for http://Jump2Top.com - SEO Company
Article Source: http://EzineArticles.com/?expert=Eliza_Maledevic
Selling a home in Miami real estate is not as simple as putting ‘home for sale’ at your yard. You can’t have the best out of your money and you can’t have the best offer faster if you do not do ways in order to make sure that you can make a sale and to gain the best deal.
In planning to sell your home, you have to consider certain factors and you need to do certain improvements to make it happen. Yes, there are factors and improvements that should be done in order to make sure that you will gain the best deal out of your home.
Working with a real estate agent can aid you with the factors to consider and with the improvements to be done to make your home attractive enough to catch the attention of the buyers. But you have to ask for recommendations from your trusted ones, maybe from family or friends in order to make sure that you will be working with a professional real estate agent.
Definitely, your real estate agent will ask you to make improvements with your home. If your walls are faded already, your real estate agent will ask you to repaint it in order to make it attractive and appealing. In choosing paint for your walls and doors, you have to choose earth tone color such as cream. You have to consider the buyers and not your own tastes. You have to clean up the walls and doors with soap and water first before repainting in order to remove the dirt.
Your real estate agent will let you clean up the whole house, check out every room and remove the mess. You also have to make sure that your home is free from unpleasing odors, cleaning up the carpets, curtains and towel can help you remove the unpleasing odors.
Clean up the bathroom and kitchen, make sure that it’s shiny and mess free. You also have to look if there are any leaks, if there is, make sure to let someone fix it up.
Look at the yard and clean it as well. Clean the gutter too. It is better to plant flowers, since these can attract buyers.
Decorate the home in order to make it attractive and eye-catching but you have to make it simple but modern of course. Do not over decorate, this will just make the home crowded. You have to make the home spacious but not empty, just put few but attractive decors and furniture.
Making home improvements is not the only thing you need to consider, you also have to consider the asking price. You have to make an asking price, a reasonable and realistic one. Your real estate agent will help you in making the right asking price. The real estate agent will visit few home that are similar with yours and ask for there prices and base it from there.
In order to make a quick sale and to gain the best deal out of your home in Miami real estate, you have to consider these factors mentioned earlier.
Eliza Maledevic Ayson http://www.miami-realestate.net
Eliza Maledevic writes for http://Jump2Top.com - SEO Company
Article Source: http://EzineArticles.com/?expert=Eliza_Maledevic
The Virtual Tour
If you want to give your real estate listing that extra edge, make sure you take full advantage of online technology by offering potential buyers a virtual tour. A virtual tour, slide show or photo tour of your home will help to entice prospective buyers by simply showing them what you're selling - without an appointment, without commitment and without any extra effort from you. It will also save you time by weeding out all but the most serious inquiries.
360 TOURS
Three sixty tours are virtual tours that give buyers a 360 degree view of rooms within a home. These are usually interactive, allowing the user to "look around" with their mouse. Doesn't require the user to download any special software and can be had for prices under $100. If you want an effective tour that you don't have to put a great deal of time into, ordering this service is a great option.
SLIDE SHOWS
Slide shows are another good option and even if you have someone put the final product together for you, you can save money by doing most of the legwork yourself. Though not as flashy as the 360 tour, slide shows do a great job of showing off a home and can allow you to show more rooms in a more cost effective manner.
PHOTOS
This is perhaps the simplest and cheapest way to show off your home, though not as impressive as a video tour. By taking photos both inside and outside, showcasing the best features of your home and posting them to the internet, you provide buyers with what they need to decide whether or not they want a true showing.
Make sure to post the link to your tour wherever possible: always include the link in any online listing of your home. You can also print the web address in any print ads you run and don't forget to include it on the sign in front of your house.
Submitted by the writing team at Homes by Owner. Visit http://www.homesbyowner.com/canada to learn more about selling your home online or to search for FSBO real estate in Canada and the US.
Article Source: http://EzineArticles.com/?expert=Ken_Hamric
360 TOURS
Three sixty tours are virtual tours that give buyers a 360 degree view of rooms within a home. These are usually interactive, allowing the user to "look around" with their mouse. Doesn't require the user to download any special software and can be had for prices under $100. If you want an effective tour that you don't have to put a great deal of time into, ordering this service is a great option.
SLIDE SHOWS
Slide shows are another good option and even if you have someone put the final product together for you, you can save money by doing most of the legwork yourself. Though not as flashy as the 360 tour, slide shows do a great job of showing off a home and can allow you to show more rooms in a more cost effective manner.
PHOTOS
This is perhaps the simplest and cheapest way to show off your home, though not as impressive as a video tour. By taking photos both inside and outside, showcasing the best features of your home and posting them to the internet, you provide buyers with what they need to decide whether or not they want a true showing.
Make sure to post the link to your tour wherever possible: always include the link in any online listing of your home. You can also print the web address in any print ads you run and don't forget to include it on the sign in front of your house.
Submitted by the writing team at Homes by Owner. Visit http://www.homesbyowner.com/canada to learn more about selling your home online or to search for FSBO real estate in Canada and the US.
Article Source: http://EzineArticles.com/?expert=Ken_Hamric
Real Estate Contract ABC's - The Basics
GET IT IN WRITING!
That is it. The rest are details. Of course, as we all know, the devil is in the details. And those devils can come back to make life miserable for sellers unless they are prevented from coming back in the first place.
In most jurisdictions oral agreements are not part of the contract when it comes to real estate. Now is the time to eliminate the possibility of future hard feelings between the parties.
You want to sell your house and the prospective buyer wants to buy it. The purpose of the contact is to ensure that each of you gets what she expects to get. In other words, this is the place to spell out with as much precision as possible the terms of the offer and in turn, the acceptance. A poorly worded offer or contract may simply be buying a lawsuit instead of a house. This is the worst result. You already know how emotionally charged selling your house is. Well, buying is also fertile ground for hard feelings.
Real estate professionals know that a good deal involves more than just the price. Take a look at a typical real estate sales contract for your area. You will notice that the place for filling in the price is only one line, while the terms can take paragraphs.
It is a good idea to have a real estate contract filled out with your information. Contracts for the purchase of real estate are governed by local laws and courses of dealing. The laws regarding real estate vary from state to state and from locality to locality, especially when it comes to what the courts consider local customs and usage. You can download basic real estate contracts and disclosure forms from the Internet, or get copies from your attorney, your local office supply store, or title company escrow officer.
Contracts are not always the dry, evenly balanced documents they may appear to be. Everything has a reason for being included or excluded. An experienced local real estate attorney, title company officer or escrow agent can help familiarize you with the basic elements and responsibilities under the contract. She will be able to tell you just where the balance lies and exactly what potential exposure you may have.
The Basic Contract Equation: Offer + Acceptance + Communication = Contract
The Opening Offer
An opening offer is the initial amount your prospective buyer is willing to pay for your house. It should be in written contract form. The offer should include the following: Price; proposed closing date; inspection and/or mortgage contingency; other contingencies; and the earnest money provision. Of course, the offer should be dated and signed by the prospective purchaser.
Remember: Until you accept an offer, it is not a contract and the buyer can change or withdraw it.
What does a good offer look like?
A good offer, one that will lead to the successful sale of your house has realistic loan terms; a satisfactory closing date; allows room for negotiation; and allows for renegotiation based upon latent defects which may be discovered during an inspection.
Earnest Money
When you accept an offer to sell your house, you also want the buyer to give you earnest money. Earnest money used to be called a "binder" because it bound the buyer to the deal and made it much more likely the deal would go through. Even though we've changed the name, the reasons for getting some money along with an offer remain the same: to ensure that the buyer is serious and that the deal will go through.
How much is enough? As the seller, you want as much as possible. After you accept an offer, you are going to stop actively marketing your house. If, after the contingencies are met, Mr. or Ms. Buyer gets cold feet and wants to walk away from the deal, you may be entitled to some or all of it. The amount of earnest money that accompanies an offer depends on what is customary in your area. It may be a flat amount or a percentage of the purchase price and should be a part of your sales contract. (5% is common in many parts of the country.)
Who holds the earnest money?
Again this depends on what is customary in your area. If your buyer is represented by an agent, that agent's brokerage can hold it or the escrow agent or the attorney.
At the closing or settlement, the earnest money is applied to the purchase price.
Once you agree to the terms and sign the offer, you have a ratified contract. This is the first step, not the final step, to having your house sold. There are still hurdles to be surmounted, in the form of contingencies, before you actually cross the finish line at the closing.
Communication
After the offer has been accepted, the final step is to communicate that acceptance to the buyer together with a copy of the accepted offer. If it is mailed, the postmark is the date of notification unless it is otherwise specified.
Note: Many states consider a faxed contract to be legal notification. Check with your lawyer or escrow agent to see if yours does.
© 2007 Complete Books Publishing, Inc.
See our eBook: Contract ABC's for the complete introduction to real estate contracts, including common contract contingencies.
Article Source: http://EzineArticles.com/?expert=Steven_Shanin
That is it. The rest are details. Of course, as we all know, the devil is in the details. And those devils can come back to make life miserable for sellers unless they are prevented from coming back in the first place.
In most jurisdictions oral agreements are not part of the contract when it comes to real estate. Now is the time to eliminate the possibility of future hard feelings between the parties.
You want to sell your house and the prospective buyer wants to buy it. The purpose of the contact is to ensure that each of you gets what she expects to get. In other words, this is the place to spell out with as much precision as possible the terms of the offer and in turn, the acceptance. A poorly worded offer or contract may simply be buying a lawsuit instead of a house. This is the worst result. You already know how emotionally charged selling your house is. Well, buying is also fertile ground for hard feelings.
Real estate professionals know that a good deal involves more than just the price. Take a look at a typical real estate sales contract for your area. You will notice that the place for filling in the price is only one line, while the terms can take paragraphs.
It is a good idea to have a real estate contract filled out with your information. Contracts for the purchase of real estate are governed by local laws and courses of dealing. The laws regarding real estate vary from state to state and from locality to locality, especially when it comes to what the courts consider local customs and usage. You can download basic real estate contracts and disclosure forms from the Internet, or get copies from your attorney, your local office supply store, or title company escrow officer.
Contracts are not always the dry, evenly balanced documents they may appear to be. Everything has a reason for being included or excluded. An experienced local real estate attorney, title company officer or escrow agent can help familiarize you with the basic elements and responsibilities under the contract. She will be able to tell you just where the balance lies and exactly what potential exposure you may have.
The Basic Contract Equation: Offer + Acceptance + Communication = Contract
The Opening Offer
An opening offer is the initial amount your prospective buyer is willing to pay for your house. It should be in written contract form. The offer should include the following: Price; proposed closing date; inspection and/or mortgage contingency; other contingencies; and the earnest money provision. Of course, the offer should be dated and signed by the prospective purchaser.
Remember: Until you accept an offer, it is not a contract and the buyer can change or withdraw it.
What does a good offer look like?
A good offer, one that will lead to the successful sale of your house has realistic loan terms; a satisfactory closing date; allows room for negotiation; and allows for renegotiation based upon latent defects which may be discovered during an inspection.
Earnest Money
When you accept an offer to sell your house, you also want the buyer to give you earnest money. Earnest money used to be called a "binder" because it bound the buyer to the deal and made it much more likely the deal would go through. Even though we've changed the name, the reasons for getting some money along with an offer remain the same: to ensure that the buyer is serious and that the deal will go through.
How much is enough? As the seller, you want as much as possible. After you accept an offer, you are going to stop actively marketing your house. If, after the contingencies are met, Mr. or Ms. Buyer gets cold feet and wants to walk away from the deal, you may be entitled to some or all of it. The amount of earnest money that accompanies an offer depends on what is customary in your area. It may be a flat amount or a percentage of the purchase price and should be a part of your sales contract. (5% is common in many parts of the country.)
Who holds the earnest money?
Again this depends on what is customary in your area. If your buyer is represented by an agent, that agent's brokerage can hold it or the escrow agent or the attorney.
At the closing or settlement, the earnest money is applied to the purchase price.
Once you agree to the terms and sign the offer, you have a ratified contract. This is the first step, not the final step, to having your house sold. There are still hurdles to be surmounted, in the form of contingencies, before you actually cross the finish line at the closing.
Communication
After the offer has been accepted, the final step is to communicate that acceptance to the buyer together with a copy of the accepted offer. If it is mailed, the postmark is the date of notification unless it is otherwise specified.
Note: Many states consider a faxed contract to be legal notification. Check with your lawyer or escrow agent to see if yours does.
© 2007 Complete Books Publishing, Inc.
See our eBook: Contract ABC's for the complete introduction to real estate contracts, including common contract contingencies.
Article Source: http://EzineArticles.com/?expert=Steven_Shanin
Writing An Offer To Purchase Real Estate
Just found the home of your dreams and want to purchase it? It’s time then to write an offer to purchase a real estate property. The process needs careful study, research and should not be made in a rush. Remember that your purchase offer is critical in negotiating a sales contract with the seller.
The purchase offer is a very important legal document that details the price you are going to pay for the property as well as several terms and conditions such as the mode of payment -- if it’s going to be cash or financed by a lender, the down payment, the inspections to be conducted, timeframe, what personal property will be included, the closing costs and who will pay for them, terms of cancellation, any repairs you want done, the date of closing and possessing the property and other contingencies.
In writing the offer, your aim is to get what you want but it’s also best if you put yourself in the shoes of the seller. Anticipating the seller’s reactions will give you a better perspective in deciding what conditions to consider in your offer. Be sure that you use the proper form as each state has its own laws on real estate.
One of the most important considerations in writing the offer is your purchase price. Be specific and realistic about your price. If you know that there are multiple offers, consider offering a higher price or making a big down payment to get the seller’s nod.
Making a reasonable initial deposit or down payment is also vital in a purchase offer. You can pay in cash, personal check, cashier’s check or by using a personal property, real property, mortgage or promissory notes. Specify the person who will keep the deposit. Normally, it’s a third party like the seller’s attorney or the buyer’s agent.
Include your financing terms if it’s FHA, VA, conventional, contract of sale or assumption of mortgage. You may also include the maximum interest rate if you wish.
Contingencies are essential as well since these serve as your protection should the deal fails to push through. These written clauses will allow you to cancel the contract without penalty in case something goes wrong during the negotiation. Common contingencies include obtaining financing, property appraisals and inspections done by professionals to ensure that they pass your standards and that the property you are buying is in good condition.
Be specific about dates and timeframes. The expiration date of the offer should be stipulated and the seller should be given enough time to respond to the offer. Both the buyer and the seller have to agree on the closing date. For more information on purchase offer expiration, check your state contract laws.
The date of possession of property by the buyer should be clearly stated to avoid confusion and other problems. Will it be on the day of closing or a day after or two to three days after closing? The buyer and the seller have to agree on the date of occupancy. But normally, a seller is given up to three days to move out of the house and turn over the keys and possession to the new owner.
Stipulate in your purchase offer as to who will pay the necessary fees like title, escrow, county or city transfer taxes and closing costs. These fees may be shouldered by the seller or the buyer or split by both. If you’re not sure about the custom in your area, consult a real estate agent or lawyer before you write this portion.
This article is brought to you by LegalHomeForms.com Download over 60 of the most used real estate forms and contracts. Find forms like the quit claim deed, or offer to purchase real estate form.
Article Source: http://EzineArticles.com/?expert=Gloria_Smith
The purchase offer is a very important legal document that details the price you are going to pay for the property as well as several terms and conditions such as the mode of payment -- if it’s going to be cash or financed by a lender, the down payment, the inspections to be conducted, timeframe, what personal property will be included, the closing costs and who will pay for them, terms of cancellation, any repairs you want done, the date of closing and possessing the property and other contingencies.
In writing the offer, your aim is to get what you want but it’s also best if you put yourself in the shoes of the seller. Anticipating the seller’s reactions will give you a better perspective in deciding what conditions to consider in your offer. Be sure that you use the proper form as each state has its own laws on real estate.
One of the most important considerations in writing the offer is your purchase price. Be specific and realistic about your price. If you know that there are multiple offers, consider offering a higher price or making a big down payment to get the seller’s nod.
Making a reasonable initial deposit or down payment is also vital in a purchase offer. You can pay in cash, personal check, cashier’s check or by using a personal property, real property, mortgage or promissory notes. Specify the person who will keep the deposit. Normally, it’s a third party like the seller’s attorney or the buyer’s agent.
Include your financing terms if it’s FHA, VA, conventional, contract of sale or assumption of mortgage. You may also include the maximum interest rate if you wish.
Contingencies are essential as well since these serve as your protection should the deal fails to push through. These written clauses will allow you to cancel the contract without penalty in case something goes wrong during the negotiation. Common contingencies include obtaining financing, property appraisals and inspections done by professionals to ensure that they pass your standards and that the property you are buying is in good condition.
Be specific about dates and timeframes. The expiration date of the offer should be stipulated and the seller should be given enough time to respond to the offer. Both the buyer and the seller have to agree on the closing date. For more information on purchase offer expiration, check your state contract laws.
The date of possession of property by the buyer should be clearly stated to avoid confusion and other problems. Will it be on the day of closing or a day after or two to three days after closing? The buyer and the seller have to agree on the date of occupancy. But normally, a seller is given up to three days to move out of the house and turn over the keys and possession to the new owner.
Stipulate in your purchase offer as to who will pay the necessary fees like title, escrow, county or city transfer taxes and closing costs. These fees may be shouldered by the seller or the buyer or split by both. If you’re not sure about the custom in your area, consult a real estate agent or lawyer before you write this portion.
This article is brought to you by LegalHomeForms.com Download over 60 of the most used real estate forms and contracts. Find forms like the quit claim deed, or offer to purchase real estate form.
Article Source: http://EzineArticles.com/?expert=Gloria_Smith
Saturday, October 6, 2007
Garage Sale Tips For Sellers
By Barry James
Having a garage sale is a great way to get rid of all your unwanted junk and clutter from around your home. If you follow these garage sale tips then you will find it an easier process. Having a garage sale can be stressful if you aren't sure of what you are doing. If you want to have a garage sale but don't have a garage, then don't panic, you can always have a yard sale.
Okay, on with the tips to help you have a more productive sale:
- Be organised. I can't stress this highly enough. If you are disorganised you will get stressed. Firstly, find the items you want to sell and group them all into the garage or designated area in your yard. You will need to have tape, price stickers, a cash box, change, and other items like bags, boxes and newspapers etc.
- Pricing. Don't price your items too high as this will turn off a lot of people. Your visitors are coming to get a bargain and if things are too expensive you won't sell anything. Of course, if you have whitegoods or electronics, you can price these a bit higher than your other goods.
- Advertise. You will need to get the word out about your garage sale, so advertise it. You can run a ad in your local paper, put up flyers on community notice boards, you can even advertise your garage sale on the internet. It might cost a bit for an ad but you want people at your sale so you need to let them know about it.
- Get help. You will need help on the day so get your friends and family to lend a hand. Trying to do it all by yourself will only result in you getting stressed and frustrated when things get busy. Also the more people helping out will be a deterant to anyone looking to steal any of your stuff.
- Haggle. Remember you are having a garage sale for a reason. You want to get rid of your junk and clutter and you don't want to have to put it all away again if it doesn't sell. If someone offers you less than what you have priced your stuff my advice is to take it. And lastly, remember to have fun with your garage sale. It should be an enjoyable experience and one that should put a few extra dollars into your pocket.
And lastly, remember to have fun with your garage sale. If you use these garage sale tips it should be an enjoyable experience and one that should put a few extra dollars into your pocket.
Article Source: http://EzineArticles.com/?expert=Barry_James
Having a garage sale is a great way to get rid of all your unwanted junk and clutter from around your home. If you follow these garage sale tips then you will find it an easier process. Having a garage sale can be stressful if you aren't sure of what you are doing. If you want to have a garage sale but don't have a garage, then don't panic, you can always have a yard sale.
Okay, on with the tips to help you have a more productive sale:
- Be organised. I can't stress this highly enough. If you are disorganised you will get stressed. Firstly, find the items you want to sell and group them all into the garage or designated area in your yard. You will need to have tape, price stickers, a cash box, change, and other items like bags, boxes and newspapers etc.
- Pricing. Don't price your items too high as this will turn off a lot of people. Your visitors are coming to get a bargain and if things are too expensive you won't sell anything. Of course, if you have whitegoods or electronics, you can price these a bit higher than your other goods.
- Advertise. You will need to get the word out about your garage sale, so advertise it. You can run a ad in your local paper, put up flyers on community notice boards, you can even advertise your garage sale on the internet. It might cost a bit for an ad but you want people at your sale so you need to let them know about it.
- Get help. You will need help on the day so get your friends and family to lend a hand. Trying to do it all by yourself will only result in you getting stressed and frustrated when things get busy. Also the more people helping out will be a deterant to anyone looking to steal any of your stuff.
- Haggle. Remember you are having a garage sale for a reason. You want to get rid of your junk and clutter and you don't want to have to put it all away again if it doesn't sell. If someone offers you less than what you have priced your stuff my advice is to take it. And lastly, remember to have fun with your garage sale. It should be an enjoyable experience and one that should put a few extra dollars into your pocket.
And lastly, remember to have fun with your garage sale. If you use these garage sale tips it should be an enjoyable experience and one that should put a few extra dollars into your pocket.
Article Source: http://EzineArticles.com/?expert=Barry_James
Thursday, October 4, 2007
Population Growth, Moderate Climate to Fuel Commercial Real Estate Growth in Southwestern United States
Monday, October 1, 2007
Renting an Apartment in Miami
By Orlando A Garcia
Finding an apartment for rent in Miami shouldn’t be a problem. With so many apartment complexes and individual investors who bought condos in the recent real estate boom, the inventory has remained high.
On the other hand, many apartment buildings were converted to condominiums and sold during the same real estate bonanza of the last 4 years, and the ‘rental conversions’ were a very popular option for those looking to buy their first home, but mainly with investors looking for a quick flip, and for a long time it was good business. This cut inventory at the other end of the spectrum, balancing the availability of rental units.
Reaching the fall of 2007, the backlog of homes for sale in Miami is at levels not seen for many years, the new condo buildings under construction keep adding more units to the already large inventory. Investors are now reluctantly becoming landlords, since condos are getting harder to sell, and new rental are coming online every month.
There are options for every taste. Just doing a quick search in the local MLS listings, taking as a sample apartments/condos with 2 bedrooms and 2 bathrooms, we found a wide range of rent prices, obviously depending of the areas: in Aventura, an area largely comprised of condo buildings, we found 328 of such units with rent prices between $1,200 to $5,250.
In Miami Beach, there were 385 units available, with rent prices between $1,200 and $16,000 at the luxurious Setai. Most condos and apartments hovered around the $3,000 monthly rent, and the majority is concentrated in popular South Beach.
In Downtown Miami, specifically in Brickell, where a good part of the new construction is taking place, there were 226 units available for rent, 56 of which were priced between $3,000 and $9,000 per month.
A few tips from Miami real estate agents about the process of renting in South Florida:
-Start looking early, don’t delay, call a real estate agent that handles rentals or start browsing the classified websites like SellHousesMiami.com, Craigslist, the Miami Herald, etc. If possible, begin your search at least 30 days before the date you’re planning to move. The reason for so much anticipation is simple: if there’s an application with the apartment complex or condominium association, it may very well take 10-20 days to get an approval, so the sooner the application the better.
-Make a list of the things you will need to know: how many parking spaces, is there washer/dryer in the premises, what is the policy regarding pets, and what is the minimum length of contract.
-Ask about application fees, and security deposits. Condo associations require an application fee that can be around $150, and many of them require now also a refundable deposit, in case you incur in damages to common areas.
-Landlords in Miami usually require first month’s rent and a security deposit (which is not the last month’s rent as many people believe) to cover for any damage to the property. Some landlords require 2 month’s rent as security deposit plus the 1st month.
-Ask about what is included in the rent: water, electricity, cable TV. Don’t be afraid of negotiating, many landlords and management companies in Miami do negotiate the terms of the leases.
For residential rentals and Miami real estate in general, contact the local expert in South Florida, Miami realtor Orlando Garcia with Ocean View International Realty, visit SellHousesMiami.com for free MLS searches, featured homes for sale, mortgage calculators and tips and advice for buyers and sellers. Give us a call toll free at 800-516-2144
Article Source: http://EzineArticles.com/?expert=Orlando_A_Garcia
Finding an apartment for rent in Miami shouldn’t be a problem. With so many apartment complexes and individual investors who bought condos in the recent real estate boom, the inventory has remained high.
On the other hand, many apartment buildings were converted to condominiums and sold during the same real estate bonanza of the last 4 years, and the ‘rental conversions’ were a very popular option for those looking to buy their first home, but mainly with investors looking for a quick flip, and for a long time it was good business. This cut inventory at the other end of the spectrum, balancing the availability of rental units.
Reaching the fall of 2007, the backlog of homes for sale in Miami is at levels not seen for many years, the new condo buildings under construction keep adding more units to the already large inventory. Investors are now reluctantly becoming landlords, since condos are getting harder to sell, and new rental are coming online every month.
There are options for every taste. Just doing a quick search in the local MLS listings, taking as a sample apartments/condos with 2 bedrooms and 2 bathrooms, we found a wide range of rent prices, obviously depending of the areas: in Aventura, an area largely comprised of condo buildings, we found 328 of such units with rent prices between $1,200 to $5,250.
In Miami Beach, there were 385 units available, with rent prices between $1,200 and $16,000 at the luxurious Setai. Most condos and apartments hovered around the $3,000 monthly rent, and the majority is concentrated in popular South Beach.
In Downtown Miami, specifically in Brickell, where a good part of the new construction is taking place, there were 226 units available for rent, 56 of which were priced between $3,000 and $9,000 per month.
A few tips from Miami real estate agents about the process of renting in South Florida:
-Start looking early, don’t delay, call a real estate agent that handles rentals or start browsing the classified websites like SellHousesMiami.com, Craigslist, the Miami Herald, etc. If possible, begin your search at least 30 days before the date you’re planning to move. The reason for so much anticipation is simple: if there’s an application with the apartment complex or condominium association, it may very well take 10-20 days to get an approval, so the sooner the application the better.
-Make a list of the things you will need to know: how many parking spaces, is there washer/dryer in the premises, what is the policy regarding pets, and what is the minimum length of contract.
-Ask about application fees, and security deposits. Condo associations require an application fee that can be around $150, and many of them require now also a refundable deposit, in case you incur in damages to common areas.
-Landlords in Miami usually require first month’s rent and a security deposit (which is not the last month’s rent as many people believe) to cover for any damage to the property. Some landlords require 2 month’s rent as security deposit plus the 1st month.
-Ask about what is included in the rent: water, electricity, cable TV. Don’t be afraid of negotiating, many landlords and management companies in Miami do negotiate the terms of the leases.
For residential rentals and Miami real estate in general, contact the local expert in South Florida, Miami realtor Orlando Garcia with Ocean View International Realty, visit SellHousesMiami.com for free MLS searches, featured homes for sale, mortgage calculators and tips and advice for buyers and sellers. Give us a call toll free at 800-516-2144
Article Source: http://EzineArticles.com/?expert=Orlando_A_Garcia
How to buy apartment buildings with no money at all
By Anthony Minnuto
Thinking of investing in commercial real estate? This article is for new investors to explain Where to Start.
A lot of new investors have tried to first invest in other types of commercial properties such as office buildings or shopping centers; only to realize that the transition is just too drastic and it ends up costing them the property, all their money leaving them deep in debt, destroying their credit and it takes years for them to recover.
Apartment buildings are tremendously easier to purchase, maintain & put on auto-pilot simply because most of us already understand how to rent an apartment and tenants are almost always readily available.
The buying process for other commercial properties (like shopping centers or office buildings) is not much different however the financing is much more difficult to obtain and leasing usually requires a team of very experienced individuals to negotiate contracts with business tenants.
If you're a new investor with little or no cash to invest, you MUST first start out with apartment buildings. Once you own at least 2 properties with at least 50 units in each property (which should be more then enough to pay you over $10,000 a month in net passive income cash flow) you can then branch out to other areas of commercial real estate.
After you own a few apartment buildings and have those properties generating you enough monthly cash flow; THEN you can absorb any vacancies that might come from not being able to rent out space in your office building, warehouse or shopping center.
Apartments are where just about all successful commercial real estate investors started out, so why try and fight the odds. Apartments are the fastest, easiest and safest way to create monthly income and massive profits.
While it is technically possible to have your first deal be a warehouse, shopping center or office building... the statistics show that it almost never happens.
Most investors who first try to jump to other commercial properties before they own a couple of apartment buildings, inevitably fail and quit this business never to return...
That's why I teach boot camps training seminars which focus on how to buy apartment buildings with no money at all. While I do teach about all types of commercial real estate, I focus on apartment buildings because the process with apartments is much faster and easier then it is with other types of commercial real estate.
If you want to succeed, your first commercial property must be an apartment building. This is the fastest and easiest way to create a steady stream of monthly Passive Income each and every month for the Rest of your Life!
Anthony Minnuto
www.passiveincomerealestate.com
Real Estate Investing for Passive Income & Residual Cash Flow
Author's Bio
Anthony Minnuto is the only person in the country teaching real estate investors how to buy apartment buildings with no money at all.
http://www.selfgrowth.com/articles/Minnuto1.html
Thinking of investing in commercial real estate? This article is for new investors to explain Where to Start.
A lot of new investors have tried to first invest in other types of commercial properties such as office buildings or shopping centers; only to realize that the transition is just too drastic and it ends up costing them the property, all their money leaving them deep in debt, destroying their credit and it takes years for them to recover.
Apartment buildings are tremendously easier to purchase, maintain & put on auto-pilot simply because most of us already understand how to rent an apartment and tenants are almost always readily available.
The buying process for other commercial properties (like shopping centers or office buildings) is not much different however the financing is much more difficult to obtain and leasing usually requires a team of very experienced individuals to negotiate contracts with business tenants.
If you're a new investor with little or no cash to invest, you MUST first start out with apartment buildings. Once you own at least 2 properties with at least 50 units in each property (which should be more then enough to pay you over $10,000 a month in net passive income cash flow) you can then branch out to other areas of commercial real estate.
After you own a few apartment buildings and have those properties generating you enough monthly cash flow; THEN you can absorb any vacancies that might come from not being able to rent out space in your office building, warehouse or shopping center.
Apartments are where just about all successful commercial real estate investors started out, so why try and fight the odds. Apartments are the fastest, easiest and safest way to create monthly income and massive profits.
While it is technically possible to have your first deal be a warehouse, shopping center or office building... the statistics show that it almost never happens.
Most investors who first try to jump to other commercial properties before they own a couple of apartment buildings, inevitably fail and quit this business never to return...
That's why I teach boot camps training seminars which focus on how to buy apartment buildings with no money at all. While I do teach about all types of commercial real estate, I focus on apartment buildings because the process with apartments is much faster and easier then it is with other types of commercial real estate.
If you want to succeed, your first commercial property must be an apartment building. This is the fastest and easiest way to create a steady stream of monthly Passive Income each and every month for the Rest of your Life!
Anthony Minnuto
www.passiveincomerealestate.com
Real Estate Investing for Passive Income & Residual Cash Flow
Author's Bio
Anthony Minnuto is the only person in the country teaching real estate investors how to buy apartment buildings with no money at all.
http://www.selfgrowth.com/articles/Minnuto1.html
Canada Home Market - Still Looking Good
By Kerri Demski
Taking a look at the state of affairs south of the border, we have seen a lot of real estate professionals getting increasingly concerned about the state of the market. The whole U.S. market seems to be drifting into a real buyer's market as prices are dropping and there simply aren't the number of buyers that there were a few years ago. The question we have here in the North is "are those trends affecting us?" Well, here's the answer: "Nope." Real estate is still going strong all over Canada and in fact, values are still appreciating in most major markets across the country. Typically Canadians have looked to areas like Toronto and Vancouver as the leaders in real estate value but in the past few years Calgary has emerged as a new player in the National real estate market.
Part of what has made Calgary the real estate hotbed that it has become is the proliferation of the local economy. Things are looking great for business and commerce in Calgary, the local oil industry is thriving and there is lots of work and education available in this area. The University of Calgary is the main post secondary institution however there are numerous smaller colleges and post secondary options available. Calgary is currently the fastest growing area in Canada and the economy continues to grow with the influx of new residents. Calgary is a great place to live for people who enjoy sports as well. The city boasts the great amenities that were developed for the 1988 Winter Olympics which includes the Canada Olympic Park. This area is the current training grounds for many of Canada's elite winter athletes. Calgary is also within striking distance of such notable Alpine areas such as Banff and Lake Louise.
Living in Calgary is a pretty attractive thing. With beautiful weather in the summer and the warm chinook winds in winter, Calgary offers a very attractive package for home owners. Combined with some of the most valuable real estate in the country and the consistently expanding nature of Calgary comes some of the most beautiful scenery in the country. Calgary sits close to the base of the rugged Rocky Mountains, one of the most striking mountain ranges in the world. With an attractive real estate market and a great job market Calgary has set itself apart as one of the premier spots in Canada in which to live and work.
Kerri Demski, provides outstanding client counseling and service through the challenging process of buying and selling Calgary real estate For more info on homes in Calgary contact Kerri today or visit online at http://www.ehomescalgary.com
Taking a look at the state of affairs south of the border, we have seen a lot of real estate professionals getting increasingly concerned about the state of the market. The whole U.S. market seems to be drifting into a real buyer's market as prices are dropping and there simply aren't the number of buyers that there were a few years ago. The question we have here in the North is "are those trends affecting us?" Well, here's the answer: "Nope." Real estate is still going strong all over Canada and in fact, values are still appreciating in most major markets across the country. Typically Canadians have looked to areas like Toronto and Vancouver as the leaders in real estate value but in the past few years Calgary has emerged as a new player in the National real estate market.
Part of what has made Calgary the real estate hotbed that it has become is the proliferation of the local economy. Things are looking great for business and commerce in Calgary, the local oil industry is thriving and there is lots of work and education available in this area. The University of Calgary is the main post secondary institution however there are numerous smaller colleges and post secondary options available. Calgary is currently the fastest growing area in Canada and the economy continues to grow with the influx of new residents. Calgary is a great place to live for people who enjoy sports as well. The city boasts the great amenities that were developed for the 1988 Winter Olympics which includes the Canada Olympic Park. This area is the current training grounds for many of Canada's elite winter athletes. Calgary is also within striking distance of such notable Alpine areas such as Banff and Lake Louise.
Living in Calgary is a pretty attractive thing. With beautiful weather in the summer and the warm chinook winds in winter, Calgary offers a very attractive package for home owners. Combined with some of the most valuable real estate in the country and the consistently expanding nature of Calgary comes some of the most beautiful scenery in the country. Calgary sits close to the base of the rugged Rocky Mountains, one of the most striking mountain ranges in the world. With an attractive real estate market and a great job market Calgary has set itself apart as one of the premier spots in Canada in which to live and work.
Kerri Demski, provides outstanding client counseling and service through the challenging process of buying and selling Calgary real estate For more info on homes in Calgary contact Kerri today or visit online at http://www.ehomescalgary.com
Apartment Rental Search Tips
By Kelly Liyakasa and Kelly Staller
Whether you’re moving four towns over or across the nation, apartment rental services are a must for any renter. Despite the number of apartment complexes dispersed throughout the United States, finding a fit to match your financial status and taste can be quite a challenge. Considering the following may assist you if you’re preparing to pack up again.
• Diverse Listings-No two people are alike, just like not all apartments are created equally. The Apartments.com website lets you sort out what kind of rental you want, such as corporate or short term apartment leases.
• Various Services-Even if you’re planning on renting for some time, sites like Move.com provide home financing information, as well as home & garden resources and moving advice.
• Pricing-Look for an apartment rental service that provides color photos, detailed listings with versatile price ranges, and even roommate searches, such as Rent.com.
• Search Function-Sifting through thousands of rentals isn’t as easy as it looks. Apartments.com gives you the option to search by city and state, lease type, property name, and even a virtual map.
Of course, if you are looking for affordable apartment rentals, you should keep your budget in mind as you begin your search. However, by limiting your search parameters, you may not find what you’re looking for. A great piece of advice is to go a little above and below the price range you have in mind, as some complexes offer move-in special’s or cash back bonuses for renting with their particular company. Apartment rental services decrease the chances your next move will be a hectic one while providing you with plentiful options for the future.
Kelly Liyakasa is staff writer for 6StarReviews.com. Kelly Staller is site manager at 6StarReviews.com, a site dedicated to giving YOU, the consumer, the best product and service reviews around. If you like saving time and money by having someone else review leading sites and products, then Visit our site at 6StarReviews.com .
Article Source: http://EzineArticles.com/?expert=Kelly_Liyakasa
Whether you’re moving four towns over or across the nation, apartment rental services are a must for any renter. Despite the number of apartment complexes dispersed throughout the United States, finding a fit to match your financial status and taste can be quite a challenge. Considering the following may assist you if you’re preparing to pack up again.
• Diverse Listings-No two people are alike, just like not all apartments are created equally. The Apartments.com website lets you sort out what kind of rental you want, such as corporate or short term apartment leases.
• Various Services-Even if you’re planning on renting for some time, sites like Move.com provide home financing information, as well as home & garden resources and moving advice.
• Pricing-Look for an apartment rental service that provides color photos, detailed listings with versatile price ranges, and even roommate searches, such as Rent.com.
• Search Function-Sifting through thousands of rentals isn’t as easy as it looks. Apartments.com gives you the option to search by city and state, lease type, property name, and even a virtual map.
Of course, if you are looking for affordable apartment rentals, you should keep your budget in mind as you begin your search. However, by limiting your search parameters, you may not find what you’re looking for. A great piece of advice is to go a little above and below the price range you have in mind, as some complexes offer move-in special’s or cash back bonuses for renting with their particular company. Apartment rental services decrease the chances your next move will be a hectic one while providing you with plentiful options for the future.
Kelly Liyakasa is staff writer for 6StarReviews.com. Kelly Staller is site manager at 6StarReviews.com, a site dedicated to giving YOU, the consumer, the best product and service reviews around. If you like saving time and money by having someone else review leading sites and products, then Visit our site at 6StarReviews.com .
Article Source: http://EzineArticles.com/?expert=Kelly_Liyakasa
How To Save Half of a Realtor's Commission
How do you hire a full-service realtor and only pay half a commission? It is always surprising when a homeowner is going to hire a realtor® to sell his property, especially when he next complains bitterly about paying 5% or 6% to someone who he believes does little or no work. Usually the seller marks up the property to cover the commission which over-prices the property and the result is it doesn't sell.
Usually, the commission paid to a realtor® is split equally between himself and his "broker", who is the licensed agent in charge of a particular firm. If the commission on a sale is $20,000, the realtor® and the broker each get $10,000. Newer methods of payouts to agents include paying "desk fees" to the broker in exchange for higher payouts. For example, if the agent pays $135/month as a "desk fee" he may be entitled to a 95% commission while an agent paying $60/month may only entitled to a 70% payout.
If the agent doesn't sell the property he listed, but another agent does, the buying and selling brokers each get half of the commission and the 3% commissions are again split with the agent so he gets 1 1/2 % net. So for a $20,000 commission the split looks like - $5,000 each to the two brokers and $5,000 each to the two agents. This is a simplified summary of the process but illustrates the payout procedure. If the agents are on a higher payout because of their monthly desk fees, their portion of the commission is increased and their broker's portion is reduced proportionally. Industry statistics show that 95%+ of the time the listing agent does not sell the property! So the real money for a realtor is in getting the listing and having another realtor® sell it. The largest commission producers in the industry sell listings and not properties.
The way to save at least half of the realtor's commission is to list with a flat-fee broker who will list the property on the MLS® (Multiple Listing Service) and Realtor.com® but who does not show the property. The buyer for your property will come from a "buyer's agent" who brings a client to see your home and make an offer. He is interested in receiving his usual 50% of the full commission or 3% of the sales price. If you offer a 3% commission to the buyer's agent, you have saved 3% by not having to pay the seller's agent (listing agent)! In the above example of a $20,000 commission, the agent who brings the buyer still gets $10,000 but you are saving $10,000.
What if you are unfamiliar with the sales and contracting process and you need help? For the $10,000 commission savings you can hire an attorney to review any contract and give you advice usually for less than $500 so you are still ahead $9,500. But better yet, the attorney can give legal advice that your realtor® can not, and you have recourse against your lawyer if something goes wrong.
So to save at least 50% of your commission, should you decide to have a realtor® sell your house, use a buyer's agent only and offer him a 2.5% or 3% commission. Another unique benefit of only paying a buyer's agent is that if desperation sets in and you need to sell quickly, you can increase your payout to the buyer's agent and attract many more buyers than using a seller's agent. The highest commission seen in the past year is a 12% commission to buyer's agents for condo units. In the depressed condo market these days, it is not uncommon to see 10% commissions to buyer's agents. So if you have decided to sell your home on the MLS using a realtor®, you can save substantial money and sell your home faster by focusing on paying only a buyer's agent to sell your home.
About:
Dave Dinkel has over 30 years experience in real estate investing which has given him a unique perspective into the workings of the real estate market. He has developed a CD entitled "How to Sell Your Home in as Little as 72 Hours", available at no cost for a limited time by going to www.fsboTLC.com and he shares even more techniques and secrets in his homeowner's home study course at www.FSBOautopilot.com
Article Source: http://EzineArticles.com/?expert=Dave_Dinkel
Usually, the commission paid to a realtor® is split equally between himself and his "broker", who is the licensed agent in charge of a particular firm. If the commission on a sale is $20,000, the realtor® and the broker each get $10,000. Newer methods of payouts to agents include paying "desk fees" to the broker in exchange for higher payouts. For example, if the agent pays $135/month as a "desk fee" he may be entitled to a 95% commission while an agent paying $60/month may only entitled to a 70% payout.
If the agent doesn't sell the property he listed, but another agent does, the buying and selling brokers each get half of the commission and the 3% commissions are again split with the agent so he gets 1 1/2 % net. So for a $20,000 commission the split looks like - $5,000 each to the two brokers and $5,000 each to the two agents. This is a simplified summary of the process but illustrates the payout procedure. If the agents are on a higher payout because of their monthly desk fees, their portion of the commission is increased and their broker's portion is reduced proportionally. Industry statistics show that 95%+ of the time the listing agent does not sell the property! So the real money for a realtor is in getting the listing and having another realtor® sell it. The largest commission producers in the industry sell listings and not properties.
The way to save at least half of the realtor's commission is to list with a flat-fee broker who will list the property on the MLS® (Multiple Listing Service) and Realtor.com® but who does not show the property. The buyer for your property will come from a "buyer's agent" who brings a client to see your home and make an offer. He is interested in receiving his usual 50% of the full commission or 3% of the sales price. If you offer a 3% commission to the buyer's agent, you have saved 3% by not having to pay the seller's agent (listing agent)! In the above example of a $20,000 commission, the agent who brings the buyer still gets $10,000 but you are saving $10,000.
What if you are unfamiliar with the sales and contracting process and you need help? For the $10,000 commission savings you can hire an attorney to review any contract and give you advice usually for less than $500 so you are still ahead $9,500. But better yet, the attorney can give legal advice that your realtor® can not, and you have recourse against your lawyer if something goes wrong.
So to save at least 50% of your commission, should you decide to have a realtor® sell your house, use a buyer's agent only and offer him a 2.5% or 3% commission. Another unique benefit of only paying a buyer's agent is that if desperation sets in and you need to sell quickly, you can increase your payout to the buyer's agent and attract many more buyers than using a seller's agent. The highest commission seen in the past year is a 12% commission to buyer's agents for condo units. In the depressed condo market these days, it is not uncommon to see 10% commissions to buyer's agents. So if you have decided to sell your home on the MLS using a realtor®, you can save substantial money and sell your home faster by focusing on paying only a buyer's agent to sell your home.
About:
Dave Dinkel has over 30 years experience in real estate investing which has given him a unique perspective into the workings of the real estate market. He has developed a CD entitled "How to Sell Your Home in as Little as 72 Hours", available at no cost for a limited time by going to www.fsboTLC.com and he shares even more techniques and secrets in his homeowner's home study course at www.FSBOautopilot.com
Article Source: http://EzineArticles.com/?expert=Dave_Dinkel
The Rise of By Owner Sales
So you’re selling your home and you want as much money as possible from it. How about selling it yourself? One growing theme in real estate these days is the rise of by owner sales, regular people cutting out the middle man and selling their home by themselves. Bypassing a real estate agent or broker can save someone a ton of money when selling their home. There are some quick by home owner sale pointers to remember before you send all the realtors walking.
First, you have to be ready to do some research. Instead of just making up a number when putting a price on your home, check out how the real estate market fares in the neighborhood. Get some comparable homes that have similar features and see how much they have sold for or are selling for on the market. If you are really interested in finding out the value of your home, you can spend some money to have an appraiser give an estimate in order to provide you with an idea of what to list it for. Using these tools you should be able to come up with a listing price and set it off on the market.
Now that you have your price and it’s officially for sale, it’s time to think of a marketing plan. This doesn’t mean you have to do television commercials or put up billboards. All this means is that you have to let it be known that your home is in this area and it’s for sale. Since you’re doing this by yourself and you’re trying to save as much money as possible, sticking to the basics of selling real estate is always a good strategy.
These basics would include an obvious sign in the front yard, an open house every so often, and maybe some creative fliers to give out to any interested homebuyers. An increasingly effective tool is to list your home online. The internet is used for everything these days, including real estate. You can post your property on many FSBO websites for free, so start googling.
By owner sales can be a ton of work but with the right steps taken, you will be off to saving lots of money when selling your home. By finding the right home value to price your home, making the property presentable, and with a simple marketing plan, you’ll be off to selling your home in no time.
For Sale Owner Homes is the largest free FSBO website. Find or post a home for sale by owner to be viewed nationwide absolutely free. ForSaleOwnerHomes.com is the one service that helps you save when finding or selling a your next home.
Article Source: http://EzineArticles.com/?expert=Karim_El_Sheikh
First, you have to be ready to do some research. Instead of just making up a number when putting a price on your home, check out how the real estate market fares in the neighborhood. Get some comparable homes that have similar features and see how much they have sold for or are selling for on the market. If you are really interested in finding out the value of your home, you can spend some money to have an appraiser give an estimate in order to provide you with an idea of what to list it for. Using these tools you should be able to come up with a listing price and set it off on the market.
Now that you have your price and it’s officially for sale, it’s time to think of a marketing plan. This doesn’t mean you have to do television commercials or put up billboards. All this means is that you have to let it be known that your home is in this area and it’s for sale. Since you’re doing this by yourself and you’re trying to save as much money as possible, sticking to the basics of selling real estate is always a good strategy.
These basics would include an obvious sign in the front yard, an open house every so often, and maybe some creative fliers to give out to any interested homebuyers. An increasingly effective tool is to list your home online. The internet is used for everything these days, including real estate. You can post your property on many FSBO websites for free, so start googling.
By owner sales can be a ton of work but with the right steps taken, you will be off to saving lots of money when selling your home. By finding the right home value to price your home, making the property presentable, and with a simple marketing plan, you’ll be off to selling your home in no time.
For Sale Owner Homes is the largest free FSBO website. Find or post a home for sale by owner to be viewed nationwide absolutely free. ForSaleOwnerHomes.com is the one service that helps you save when finding or selling a your next home.
Article Source: http://EzineArticles.com/?expert=Karim_El_Sheikh
House Selling - Things To Increase Home Value
If increasing the value of your home is a main consideration when remodeling, there are a few things to consider. First, consider whether or not the scale of he project you are considering will generate enough profit-potential for your area. Most kitchens remodels these days cost between $15,000 and $50,000. While putting in high-end appliances, granite counter tops and custom tiled floors can often be redeemed when selling in higher-priced neighborhoods, in some areas the costs of such a project will never be redeemed.
It doesn't matter how gorgeous your house is – or how much you paid to have it remodeled – if your neighborhood is full of $135,000 homes, a $75,000 kitchen isn't going to yield a $350,000 selling price!
So, what projects are the best to consider when trying to increase the value of your home? Here are a few basic projects that almost any neighborhood can sustain:
New Windows.New double paned windows are always a good investment since they help lower energy costs for the new owner and virtually maintenance free for decades!
Fresh Paint.A new paint job in both the interior and exterior of your home can make it much more appealing to potential buyers and give them a sense that the home has been well cared for and easy to maintain which can help boost its selling price.
Layout Reconfiguration.It is all in the layout these days. People want big airy spaces to live in, and that sometimes means opening a wall between a living area and the kitchen or tearing out a closet to expand an otherwise cramped space. Although more expensive than some remodeling jobs, reconfiguring your layout may mean the difference between selling for one price and another $10,000, #20,000 or more higher.
Kitchens and Bathrooms.It is said that kitchens and bathrooms sell a house these days. They need to feature modern amenities and luxury like never before. While most kitchen and bathroom remodeling projects cost over $15,000 these days, they can usually be recouped in the selling price as long as you stay within your area's ability to pay the higher price.
As you can see, there are a lot of inexpensive (and not inexpensive) ways to increase the value of your property. But which ones are best? According to a recent cost vs. value report released by the home selling industry these were projects yielded the most profit in 2006:
Bathrooms: 75%
Deck: 77%
Master Suite Additions: 73%
Sunrooms: 66%
Attic Bedrooms: 88%
Kitchen Upgrades: 84%
New Roofing: 80%
Siding Replacement: 87%
Window Replacement: 84%
Sick and Tired of Not Profiting From Your Websites? Start Your Own Adsense Templates Network TODAY with eWebCreator.com. Get Our FREE Website Secrets e-Course Here.
Article Source: http://EzineArticles.com/?expert=Matt_Hick
It doesn't matter how gorgeous your house is – or how much you paid to have it remodeled – if your neighborhood is full of $135,000 homes, a $75,000 kitchen isn't going to yield a $350,000 selling price!
So, what projects are the best to consider when trying to increase the value of your home? Here are a few basic projects that almost any neighborhood can sustain:
New Windows.New double paned windows are always a good investment since they help lower energy costs for the new owner and virtually maintenance free for decades!
Fresh Paint.A new paint job in both the interior and exterior of your home can make it much more appealing to potential buyers and give them a sense that the home has been well cared for and easy to maintain which can help boost its selling price.
Layout Reconfiguration.It is all in the layout these days. People want big airy spaces to live in, and that sometimes means opening a wall between a living area and the kitchen or tearing out a closet to expand an otherwise cramped space. Although more expensive than some remodeling jobs, reconfiguring your layout may mean the difference between selling for one price and another $10,000, #20,000 or more higher.
Kitchens and Bathrooms.It is said that kitchens and bathrooms sell a house these days. They need to feature modern amenities and luxury like never before. While most kitchen and bathroom remodeling projects cost over $15,000 these days, they can usually be recouped in the selling price as long as you stay within your area's ability to pay the higher price.
As you can see, there are a lot of inexpensive (and not inexpensive) ways to increase the value of your property. But which ones are best? According to a recent cost vs. value report released by the home selling industry these were projects yielded the most profit in 2006:
Bathrooms: 75%
Deck: 77%
Master Suite Additions: 73%
Sunrooms: 66%
Attic Bedrooms: 88%
Kitchen Upgrades: 84%
New Roofing: 80%
Siding Replacement: 87%
Window Replacement: 84%
Sick and Tired of Not Profiting From Your Websites? Start Your Own Adsense Templates Network TODAY with eWebCreator.com. Get Our FREE Website Secrets e-Course Here.
Article Source: http://EzineArticles.com/?expert=Matt_Hick
Nationwide Finds DIY Could Help House Sales
Britons could be rushing to get themselves a home improvement loan following the latest tips from Nationwide about the best ways to sell your home, which reflected the need to have any outstanding do-it-yourself (DIY) work done and dusted.
A study commissioned by the building society into what buyers look for when they consider buying a property has created plenty of food for thought for those looking to sell their house, something that could encourage a number of those with their house on the market to look for the best home improvement loans to fund the work.
Commenting on the survey, Katie Harper, Nationwide media relations manager, said: “Higher interest rates and the resulting reduction in new buyers visiting estate agents continue to put further pressure on homeowners who are looking to sell. While there is no evidence to suggest that these top tips would command a higher price, sellers might find they come in useful when they do manage to encourage potential buyers to view their property.”
Tackling DIY disasters is an important factor, according to the building society. This top tip comes from the fact that 90 per cent of potential homebuyers thought that poor building work or bad DIY was a “big turn off”, according to Nationwide.
A big lure for potential buyers is how green a house is, with 82 per cent of respondents to the survey suggesting that environmental factors such as solar panels make a house more appealing. This was a larger number than those that found an attic room, period features or walk-in wardrobes important, a persuader for 68 per cent, 63 per cent and 62 per cent respectively. Again, some of these measures are food and drink for Britain’s DIY fans.
Away from the house itself, a home improvement loan could be used in part to fix up the garden and put up a fence, whether of panels or poplars. Some 80 per cent of respondents to Nationwide’s survey stated that they would think twice about putting an offer in on a property where privacy was not provided for in the garden.
The kitchen was seen as the most important room in the house by more than half of those involved in Nationwide’s survey, with 54 per cent seeing the room as the most influential as to whether they would put in an offer. A home improvement loan could provide the funds for a new kitchen suite.
Nationwide has said that the time of year people look to sell their property is also important, with potential sellers being warned to stay away from “the summer drought” as well as November and December, when the distraction of Christmas is all too near.
In June a study by Halifax revealed that 58 per cent of consumers have carried out home improvements in the last 12 months, many with the intention of adding value to their homes. About a quarter of those surveyed by Halifax hoped to add as much as Ј5,000 to the value of their home.
Abbi Rouse writes for 1 stop finance shop where visitors can apply for UK secured loans and also focuses on personal loans for UK residents. Visit Today: http://news.1stopfinanceshopuk.biz
Article Source: http://EzineArticles.com/?expert=Abbi_Rouse
A study commissioned by the building society into what buyers look for when they consider buying a property has created plenty of food for thought for those looking to sell their house, something that could encourage a number of those with their house on the market to look for the best home improvement loans to fund the work.
Commenting on the survey, Katie Harper, Nationwide media relations manager, said: “Higher interest rates and the resulting reduction in new buyers visiting estate agents continue to put further pressure on homeowners who are looking to sell. While there is no evidence to suggest that these top tips would command a higher price, sellers might find they come in useful when they do manage to encourage potential buyers to view their property.”
Tackling DIY disasters is an important factor, according to the building society. This top tip comes from the fact that 90 per cent of potential homebuyers thought that poor building work or bad DIY was a “big turn off”, according to Nationwide.
A big lure for potential buyers is how green a house is, with 82 per cent of respondents to the survey suggesting that environmental factors such as solar panels make a house more appealing. This was a larger number than those that found an attic room, period features or walk-in wardrobes important, a persuader for 68 per cent, 63 per cent and 62 per cent respectively. Again, some of these measures are food and drink for Britain’s DIY fans.
Away from the house itself, a home improvement loan could be used in part to fix up the garden and put up a fence, whether of panels or poplars. Some 80 per cent of respondents to Nationwide’s survey stated that they would think twice about putting an offer in on a property where privacy was not provided for in the garden.
The kitchen was seen as the most important room in the house by more than half of those involved in Nationwide’s survey, with 54 per cent seeing the room as the most influential as to whether they would put in an offer. A home improvement loan could provide the funds for a new kitchen suite.
Nationwide has said that the time of year people look to sell their property is also important, with potential sellers being warned to stay away from “the summer drought” as well as November and December, when the distraction of Christmas is all too near.
In June a study by Halifax revealed that 58 per cent of consumers have carried out home improvements in the last 12 months, many with the intention of adding value to their homes. About a quarter of those surveyed by Halifax hoped to add as much as Ј5,000 to the value of their home.
Abbi Rouse writes for 1 stop finance shop where visitors can apply for UK secured loans and also focuses on personal loans for UK residents. Visit Today: http://news.1stopfinanceshopuk.biz
Article Source: http://EzineArticles.com/?expert=Abbi_Rouse
Can a real estate auction maximize value in a depressed market?
Q. I read your article on real estate auctions. I found it very interesting from a seller's point of view. Our home has been on the market for close to six months now. We are in the Central Coast area of California, in Prunedale, about 50 miles south of San Jose. Our house is nine years old -- we bought it before completion. The land area is "approximately" 1.19 acres, all of which is irrigated, either by sprinkler or drip irrigation.
Here's the problem. I'd guess about four and a half hours after we listed our property, California real estate values began their plummet. After an initial appraisal, we priced the house at $1,050,000. We have subsequently reduced it to $995,000, then $ 935,000, then $895,000, followed by $875,000. We even advertised it agreeing to accept the highest offer over $835,000. With all of this movement on our part, we have never had even a ridiculous offer, let alone a realistic offer.
My wife and I are both retirement age and want to move back to Florida to be near our kids and grandkids. We can't do that until we sell the house. We have been having rather heated debates with our broker on what to do about getting some people through the house, followed up by some offers. The broker is a well-known and well-regarded firm. On the whole they have done a good job, but we are beginning to differ on what do to next.
My position is that this current market is quite different than what existed a year ago, where all you had to do was list the property and bids would fly in almost immediately. I say that since the market has changed so dramatically, marketing methods have to change as well. They are dragging their feet, and are still using traditional methods, Internet ads, newspaper ads and open houses. Your article piqued my interest and my broker's. I've found a bunch of national auction houses, but have no idea how to evaluate them. Uniformly it appears they charge the buyer a 1 percent fee, and the buyer pays all closing costs, so there seem to be no major distinguishing features.
Would you mind answering some questions for me? They are:
1. How do I judge which auction house is best for us?
2. Would it be preferable to use a local broker to a national one?
3. Do you have any feeling about other ways to market property given the state of real estate now?
4. If we go the auction route, should we attempt to find a lender ready to provide financing under varied scenarios (different amount down, different credit scores, etc.)?
A. You must first address the commitments you have under your current listing agreement before proceeding with an auction of the property. If you have entered into an exclusive right-to-sell listing agreement, your broker would be entitled to a commission if your property was sold in an auction.
Can your listing agreement be canceled or is it soon to expire? You should contact three or four auctioneers in your area who auction real estate. Ask about their experience, fees, references, the process and expenses associated with their endeavors. I would be concerned about the requirements and fees that they have for buyers. You will have to invest money in marketing the auction. The more you are willing to invest the greater the marketing effort. Before doing this, you should evaluate the likelihood of the property selling and you receiving a sales price that is acceptable.
To answer these questions you must review the sales activity of properties in your area and similar competing properties that are currently listed for sale. Based upon this review and in consultation with your current broker, you can evaluate the likelihood of being successful in an auction. In an auction sale the buyers are responsible for financing. Selling real estate in this market has many challenges. Review your broker's marketing plans and request targeted marketing to local firms, real estate agent open house tours, selling agent incentives, increased signage and more open houses. The broker may have other avenues that are working in your market.
Dr. Thomas Musil is the director of the Shenehon Center for Real Estate in the Opus College of Business at the University of St. Thomas in Minneapolis. He has more than 25 years of experience in real estate as a broker, analyst, consultant and expert witness in real estate litigation and arbitration disputes. E-mail questions to: tamusilstthomas.edu. Please include your name, city and state.
Article Source http://www.bnd.com/business/story/141057.html
Here's the problem. I'd guess about four and a half hours after we listed our property, California real estate values began their plummet. After an initial appraisal, we priced the house at $1,050,000. We have subsequently reduced it to $995,000, then $ 935,000, then $895,000, followed by $875,000. We even advertised it agreeing to accept the highest offer over $835,000. With all of this movement on our part, we have never had even a ridiculous offer, let alone a realistic offer.
My wife and I are both retirement age and want to move back to Florida to be near our kids and grandkids. We can't do that until we sell the house. We have been having rather heated debates with our broker on what to do about getting some people through the house, followed up by some offers. The broker is a well-known and well-regarded firm. On the whole they have done a good job, but we are beginning to differ on what do to next.
My position is that this current market is quite different than what existed a year ago, where all you had to do was list the property and bids would fly in almost immediately. I say that since the market has changed so dramatically, marketing methods have to change as well. They are dragging their feet, and are still using traditional methods, Internet ads, newspaper ads and open houses. Your article piqued my interest and my broker's. I've found a bunch of national auction houses, but have no idea how to evaluate them. Uniformly it appears they charge the buyer a 1 percent fee, and the buyer pays all closing costs, so there seem to be no major distinguishing features.
Would you mind answering some questions for me? They are:
1. How do I judge which auction house is best for us?
2. Would it be preferable to use a local broker to a national one?
3. Do you have any feeling about other ways to market property given the state of real estate now?
4. If we go the auction route, should we attempt to find a lender ready to provide financing under varied scenarios (different amount down, different credit scores, etc.)?
A. You must first address the commitments you have under your current listing agreement before proceeding with an auction of the property. If you have entered into an exclusive right-to-sell listing agreement, your broker would be entitled to a commission if your property was sold in an auction.
Can your listing agreement be canceled or is it soon to expire? You should contact three or four auctioneers in your area who auction real estate. Ask about their experience, fees, references, the process and expenses associated with their endeavors. I would be concerned about the requirements and fees that they have for buyers. You will have to invest money in marketing the auction. The more you are willing to invest the greater the marketing effort. Before doing this, you should evaluate the likelihood of the property selling and you receiving a sales price that is acceptable.
To answer these questions you must review the sales activity of properties in your area and similar competing properties that are currently listed for sale. Based upon this review and in consultation with your current broker, you can evaluate the likelihood of being successful in an auction. In an auction sale the buyers are responsible for financing. Selling real estate in this market has many challenges. Review your broker's marketing plans and request targeted marketing to local firms, real estate agent open house tours, selling agent incentives, increased signage and more open houses. The broker may have other avenues that are working in your market.
Dr. Thomas Musil is the director of the Shenehon Center for Real Estate in the Opus College of Business at the University of St. Thomas in Minneapolis. He has more than 25 years of experience in real estate as a broker, analyst, consultant and expert witness in real estate litigation and arbitration disputes. E-mail questions to: tamusilstthomas.edu. Please include your name, city and state.
Article Source http://www.bnd.com/business/story/141057.html
Home loans were ill-fated
Buydowns weren't meant for lower-income families
Kris Boschele and John Heinemann decided to enter the mortgage business in 2002, creating a company called Universal Mortgage Funding.
Between late 2002 and early 2005, Universal arranged more than 300 loans, mostly for customers of Performance Realty and later Realty Place. The vast majority were insured by the Federal Housing Administration, which encourages lending to lower-income families by promising to repay lenders if borrowers don't.
Heinemann describes Universal as "a lender of last resort," serving customers who couldn't get loans elsewhere. "It made sense for us to try to get them a home even if we didn't make any money on the loan," he said.
How did Universal qualify people for loans where other lenders failed?
An Observer review of federal data shows the company relied on a kind of loan that was never intended for broad use by lower-income families. Buydown loans increase the amount that customers can borrow by reducing the monthly payment for the first two years of the loan.
FHA rules restricted the use of buydowns to borrowers whose incomes are likely to increase by the third year. Nationwide, buydowns accounted for less than 5 percent of FHA loans. But Universal arranged buydowns on about 85 percent of its FHA loans, federal records show.
The company also helped customers avoid an FHA requirement that they make a 3 percent down payment. On about 90 percent of Universal's FHA loans, home builders provided the borrower with the required money, federal records show.
Heinemann and Boschele had tried to work with other mortgage companies. For a time, Performance Realty partnered with Fidelity & Trust Mortgage, a Maryland mortgage company that had offices in Charlotte.
Jeff Kennedy, who now runs his own mortgage business, worked for a few months in early 2002 as the Fidelity & Trust employee assigned to deal with customers from Performance Realty. Then he asked for a different assignment.
"It was a waste of my time," he said. "You'd look at 10 deals and eight of them couldn't even get a Bi-Lo card. They certainly couldn't afford a house."
Heinemann said Performance Realty soon cut ties with Fidelity & Trust because it wasn't offering competitive interest rates.
The Observer has reported over the past two years on the government's failure to ensure that companies followed the rules of the FHA program. FHA loans account for almost a quarter of recent foreclosures in Mecklenburg County.
The FHA has now barred both of the practices central to the success of Universal, eliminating buydowns in 2005 and prohibiting down-payment gifts earlier this year. Borrowers who received loans with either feature were more likely to foreclose.
Heinemann says Universal was shuttered because of the "headache to dollar ratio." But he acknowledged that the company also was close to losing its permission to arrange FHA loans because so many of its borrowers were defaulting.
About 15 percent of the customers who received FHA loans through Universal have lost their homes to foreclosure as of last month, compared with 10 percent of all customers who purchased homes through Realty Place.
Online map allows you to scan Mecklenburg developments for foreclosures. Also, read our full series on foreclosures in the Charlotte area. www.charlotte.com
/foreclosure
Binyamin Appelbaum
Article Source http://www.charlotte.com/205/story/299382.html
Kris Boschele and John Heinemann decided to enter the mortgage business in 2002, creating a company called Universal Mortgage Funding.
Between late 2002 and early 2005, Universal arranged more than 300 loans, mostly for customers of Performance Realty and later Realty Place. The vast majority were insured by the Federal Housing Administration, which encourages lending to lower-income families by promising to repay lenders if borrowers don't.
Heinemann describes Universal as "a lender of last resort," serving customers who couldn't get loans elsewhere. "It made sense for us to try to get them a home even if we didn't make any money on the loan," he said.
How did Universal qualify people for loans where other lenders failed?
An Observer review of federal data shows the company relied on a kind of loan that was never intended for broad use by lower-income families. Buydown loans increase the amount that customers can borrow by reducing the monthly payment for the first two years of the loan.
FHA rules restricted the use of buydowns to borrowers whose incomes are likely to increase by the third year. Nationwide, buydowns accounted for less than 5 percent of FHA loans. But Universal arranged buydowns on about 85 percent of its FHA loans, federal records show.
The company also helped customers avoid an FHA requirement that they make a 3 percent down payment. On about 90 percent of Universal's FHA loans, home builders provided the borrower with the required money, federal records show.
Heinemann and Boschele had tried to work with other mortgage companies. For a time, Performance Realty partnered with Fidelity & Trust Mortgage, a Maryland mortgage company that had offices in Charlotte.
Jeff Kennedy, who now runs his own mortgage business, worked for a few months in early 2002 as the Fidelity & Trust employee assigned to deal with customers from Performance Realty. Then he asked for a different assignment.
"It was a waste of my time," he said. "You'd look at 10 deals and eight of them couldn't even get a Bi-Lo card. They certainly couldn't afford a house."
Heinemann said Performance Realty soon cut ties with Fidelity & Trust because it wasn't offering competitive interest rates.
The Observer has reported over the past two years on the government's failure to ensure that companies followed the rules of the FHA program. FHA loans account for almost a quarter of recent foreclosures in Mecklenburg County.
The FHA has now barred both of the practices central to the success of Universal, eliminating buydowns in 2005 and prohibiting down-payment gifts earlier this year. Borrowers who received loans with either feature were more likely to foreclose.
Heinemann says Universal was shuttered because of the "headache to dollar ratio." But he acknowledged that the company also was close to losing its permission to arrange FHA loans because so many of its borrowers were defaulting.
About 15 percent of the customers who received FHA loans through Universal have lost their homes to foreclosure as of last month, compared with 10 percent of all customers who purchased homes through Realty Place.
Online map allows you to scan Mecklenburg developments for foreclosures. Also, read our full series on foreclosures in the Charlotte area. www.charlotte.com
/foreclosure
Binyamin Appelbaum
Article Source http://www.charlotte.com/205/story/299382.html
Commercial real estate projects dot Cruces landscape
By Brook Stockberger
Sun-News Business Editor
LAS CRUCES — A lot of attention has been paid to the housing market and its recent travails. But what is the situation for commercial real estate?
Here in southern New Mexico, the scene is alive and well, according to some members of the commercial real estate community.
"Commercial runs almost opposite to residential," said Ed Garland with Garland Realty in Las Cruces. "I don't know why that is, but the entire time I've been in the business, that's the way it's been."
Grady Oxford with Steinborn TCN Worldwide Commercial said there is a healthy demand for commercial space.
"There's still a pretty good demand," he said. "We get numerous demands for office space. There is office space available, but not enough to give everybody a huge selection. We're getting plenty calls on all fronts."
Randy McMillan, founder of NAI 1st Valley Realty in Las Cruces, agrees.
"Commercial has continued to be strong," he said. "The office market is tightening; the retail market is tightening."
While the buying and selling and operating of apartment complexes and retail centers continue in the Las Cruces area, several big deals have been announced this past year.
Last week, Alameda Property Group announced that it has completed the sale of 25 acres to Wal-Mart Stores Inc. at the southwest corner of Rinconada Boulevard and Northrise Drive, just off U.S. Highway 70, on the east side of Las Cruces.
Donnie Brainard, president of Alameda Property Group, said Wal-Mart will anchor a 621,000-square-foot development to be called Rinconada Town Center.
Currently under construction is Triviz Plaza, next to Lowe's, between Triviz Drive and North Main Street. The anchor tenant for the retail location is a Kohl's department store, that is set to open in November.
Michael Tell, associate broker with RE/MAX Classic Realty in Las Cruces, announced in April that there will be other retail locations in the plaza as well.
In addition, a new commercial development is under construction at the corner of University Avenue and Telshor Boulevard. NAI 1st Valley announced in May that the parcel has more than 13 acres and will be a mixed-use commercial development.
Facilities set to go into the site include a new Pic Quik with a Santa Fe Grill, a branch of Citizen's Bank and a hotel property. In the future, the developers plan an additional hotel, two retail sites and a medical building.
Among thousands of potential sites, Las Cruces has been chosen to house a customer service center for a large insurance company that will employ more than 200 people.
Allstate Insurance Company announced earlier this month that it plans to open a new claims office in Las Cruces by January. The center will be located on the top floor of the building George Rawson's Pueblo Builders has constructed on Roadrunner Parkway.
The center will hire more than 200 people.
McMillan said the deal was set in motion when Steve Vierck, the president and CEO of the Mesilla Valley Economic Development Alliance, called.
"MVEDA called and said they needed 30,000 square feet," he said. "There was not 30,000 of office space out there. Still, I called several of my clients out there to see if they knew of anything."
He said Rawson proposed the top floor of his building, which was originally intended to be self-storage units. The folks from Allstate were on a visit to Las Cruces so McMillan took them to look at the building.
"I took them over there and they loved the location and the view," he said. "We were in the right place at the right time."
McMillan said Allstate has signed a 10-year lease.
NMSU broke ground on Sept. 1 for its Arrowhead Research Park. This fall, Arrowhead Development, LLC will begin building on the first 11 acres of land at the research park that is located just off Sam Steel Way, between Interstates 10 and 25.
The initial phase will have up to seven buildings and 120,000 square feet of office and laboratory space. For the entire park, the university reports there is potential to add 2.5 million square feet of 'class-A' office and lab space. Five to six thousand people will be able to work at the park.
Steinborn TCN Worldwide Commercial will broker deals for the park.
John Hummer, CEO of Steinborn, said that the research park will offer something that the Las Cruces area has often lacked: preexisting buildings.
"That's something that has always been mentioned as an issue, the lack of buildings," he said. "This will provide that."
Plans are in place to put a 140-room Holiday Inn at the Mesilla Valley Mall.
Garland said the project is still going forward.
"It's going well," he said. "It's in the permitting process."
The hotel will be located in the open space that used to house Bealls department store.
"I think the tenants of the mall will be real happy with this," he said.
"They'll have people staying there who will come out and shop."
Brook Stockberger can be reached at bstockberger@lcsun-news.com
Article Source http://www.lcsun-news.com/ci_7046155?source=most_emailed
Sun-News Business Editor
LAS CRUCES — A lot of attention has been paid to the housing market and its recent travails. But what is the situation for commercial real estate?
Here in southern New Mexico, the scene is alive and well, according to some members of the commercial real estate community.
"Commercial runs almost opposite to residential," said Ed Garland with Garland Realty in Las Cruces. "I don't know why that is, but the entire time I've been in the business, that's the way it's been."
Grady Oxford with Steinborn TCN Worldwide Commercial said there is a healthy demand for commercial space.
"There's still a pretty good demand," he said. "We get numerous demands for office space. There is office space available, but not enough to give everybody a huge selection. We're getting plenty calls on all fronts."
Randy McMillan, founder of NAI 1st Valley Realty in Las Cruces, agrees.
"Commercial has continued to be strong," he said. "The office market is tightening; the retail market is tightening."
While the buying and selling and operating of apartment complexes and retail centers continue in the Las Cruces area, several big deals have been announced this past year.
Last week, Alameda Property Group announced that it has completed the sale of 25 acres to Wal-Mart Stores Inc. at the southwest corner of Rinconada Boulevard and Northrise Drive, just off U.S. Highway 70, on the east side of Las Cruces.
Donnie Brainard, president of Alameda Property Group, said Wal-Mart will anchor a 621,000-square-foot development to be called Rinconada Town Center.
Currently under construction is Triviz Plaza, next to Lowe's, between Triviz Drive and North Main Street. The anchor tenant for the retail location is a Kohl's department store, that is set to open in November.
Michael Tell, associate broker with RE/MAX Classic Realty in Las Cruces, announced in April that there will be other retail locations in the plaza as well.
In addition, a new commercial development is under construction at the corner of University Avenue and Telshor Boulevard. NAI 1st Valley announced in May that the parcel has more than 13 acres and will be a mixed-use commercial development.
Facilities set to go into the site include a new Pic Quik with a Santa Fe Grill, a branch of Citizen's Bank and a hotel property. In the future, the developers plan an additional hotel, two retail sites and a medical building.
Among thousands of potential sites, Las Cruces has been chosen to house a customer service center for a large insurance company that will employ more than 200 people.
Allstate Insurance Company announced earlier this month that it plans to open a new claims office in Las Cruces by January. The center will be located on the top floor of the building George Rawson's Pueblo Builders has constructed on Roadrunner Parkway.
The center will hire more than 200 people.
McMillan said the deal was set in motion when Steve Vierck, the president and CEO of the Mesilla Valley Economic Development Alliance, called.
"MVEDA called and said they needed 30,000 square feet," he said. "There was not 30,000 of office space out there. Still, I called several of my clients out there to see if they knew of anything."
He said Rawson proposed the top floor of his building, which was originally intended to be self-storage units. The folks from Allstate were on a visit to Las Cruces so McMillan took them to look at the building.
"I took them over there and they loved the location and the view," he said. "We were in the right place at the right time."
McMillan said Allstate has signed a 10-year lease.
NMSU broke ground on Sept. 1 for its Arrowhead Research Park. This fall, Arrowhead Development, LLC will begin building on the first 11 acres of land at the research park that is located just off Sam Steel Way, between Interstates 10 and 25.
The initial phase will have up to seven buildings and 120,000 square feet of office and laboratory space. For the entire park, the university reports there is potential to add 2.5 million square feet of 'class-A' office and lab space. Five to six thousand people will be able to work at the park.
Steinborn TCN Worldwide Commercial will broker deals for the park.
John Hummer, CEO of Steinborn, said that the research park will offer something that the Las Cruces area has often lacked: preexisting buildings.
"That's something that has always been mentioned as an issue, the lack of buildings," he said. "This will provide that."
Plans are in place to put a 140-room Holiday Inn at the Mesilla Valley Mall.
Garland said the project is still going forward.
"It's going well," he said. "It's in the permitting process."
The hotel will be located in the open space that used to house Bealls department store.
"I think the tenants of the mall will be real happy with this," he said.
"They'll have people staying there who will come out and shop."
Brook Stockberger can be reached at bstockberger@lcsun-news.com
Article Source http://www.lcsun-news.com/ci_7046155?source=most_emailed
Ranch realty company still growing
It's been another year of growth at Lakewood Ranch Realty. Some of the new faces that have joined the company during the year are:
Real estate investor Misty Klein. Klein has been selling property in the Lakewood Ranch area since 2001. She has a degree in occupational therapy, which earned her the nickname, "the real estate therapist."
Marsha Tyrrell, an expert in new home sales for the past nine years, joined the company in April.
With more than 30 years experience in residential and commercial real estate, Mark R. Curtin joined the company in May. Curtin also has a background in marketing.
Erica Bowles also joined Lakewood Ranch Realty in May. Bowles grew up in Sarasota and has extensive knowledge of the area. She has a degree in environmental science and previously worked in managing commercial properties, sales and leasing.
Kay Maureen Culliton formerly worked as a corporate sales and marketing executive. She markets her listings on various national and international Web sites.
Christina Stilits joined the company in June and has more than three years experience in the real estate industry.
With nearly 40 years international and local business experience in the areas of sales, marketing and management, Perry Joseph joined the company in June.
Florida native Lori Perkins grew up surrounded by the real estate industry. Her father was a custom home builder and real estate broker. She returned to Florida six years ago. Perkins also has the distinction of being their first resident in the exclusive Lake Club in Lakewood Ranch.
Peter Epps has worked in the real estate industry for almost 30 years and owned and operated a real estate management firm and brokerage shop.
Lakewood Ranch Realty specializes in homes and residential rental properties in and near Lakewood Ranch.
• Coldwell Banker Residential Real Estate recently welcomed Amanda Smith to the company's University Parkway office. Smith specializes in residential and second-home property sales.
• The Hanan/Srur Team has joined Michael Saunders & Company's Main Street office in Sarasota. Kristen Srur has lived in the Bradenton/Sarasota area since she was a child. She honed her marketing, advertising and public relations skills as director of marketing for Manatee Memorial Hospital before switching gears and diving into the real estate profession. Stacy Hanan has a background in sales, marketing and retail management. She is a graduate of the University of Texas.
• North Port is home to three new townhome models built to withstand 140-mph winds and protected by a fire-sprinkler system. Compass Communities developed Largo Preserve, a 36-acre neighborhood. Once completed, Largo Preserve will consist of 483 townhomes and is just north of Toledo Blade Boulevard. Townhomes range from 1,382 and 1,885 square feet and cost from the $160,000s to the $190,000s. Compass Communities is a division of Sarasota-based FMO Companies. FMO is a development, engineering and construction firm.
Melissa Followell, Herald reporter, can be reached at 708-7920
Source
Real estate investor Misty Klein. Klein has been selling property in the Lakewood Ranch area since 2001. She has a degree in occupational therapy, which earned her the nickname, "the real estate therapist."
Marsha Tyrrell, an expert in new home sales for the past nine years, joined the company in April.
With more than 30 years experience in residential and commercial real estate, Mark R. Curtin joined the company in May. Curtin also has a background in marketing.
Erica Bowles also joined Lakewood Ranch Realty in May. Bowles grew up in Sarasota and has extensive knowledge of the area. She has a degree in environmental science and previously worked in managing commercial properties, sales and leasing.
Kay Maureen Culliton formerly worked as a corporate sales and marketing executive. She markets her listings on various national and international Web sites.
Christina Stilits joined the company in June and has more than three years experience in the real estate industry.
With nearly 40 years international and local business experience in the areas of sales, marketing and management, Perry Joseph joined the company in June.
Florida native Lori Perkins grew up surrounded by the real estate industry. Her father was a custom home builder and real estate broker. She returned to Florida six years ago. Perkins also has the distinction of being their first resident in the exclusive Lake Club in Lakewood Ranch.
Peter Epps has worked in the real estate industry for almost 30 years and owned and operated a real estate management firm and brokerage shop.
Lakewood Ranch Realty specializes in homes and residential rental properties in and near Lakewood Ranch.
• Coldwell Banker Residential Real Estate recently welcomed Amanda Smith to the company's University Parkway office. Smith specializes in residential and second-home property sales.
• The Hanan/Srur Team has joined Michael Saunders & Company's Main Street office in Sarasota. Kristen Srur has lived in the Bradenton/Sarasota area since she was a child. She honed her marketing, advertising and public relations skills as director of marketing for Manatee Memorial Hospital before switching gears and diving into the real estate profession. Stacy Hanan has a background in sales, marketing and retail management. She is a graduate of the University of Texas.
• North Port is home to three new townhome models built to withstand 140-mph winds and protected by a fire-sprinkler system. Compass Communities developed Largo Preserve, a 36-acre neighborhood. Once completed, Largo Preserve will consist of 483 townhomes and is just north of Toledo Blade Boulevard. Townhomes range from 1,382 and 1,885 square feet and cost from the $160,000s to the $190,000s. Compass Communities is a division of Sarasota-based FMO Companies. FMO is a development, engineering and construction firm.
Melissa Followell, Herald reporter, can be reached at 708-7920
Source
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I'm evaluating a multi-media course on blogging from the folks at Simpleology. For a while, they're letting you snag it for free if you post about it on your blog.
It covers:
- The best blogging techniques.
- How to get traffic to your blog.
- How to turn your blog into money.
I'll let you know what I think once I've had a chance to check it out. Meanwhile, go grab yours while it's still free.