Building Your Real Estate Investment Team
by John P. Myers
How successful you become as a real estate investor will be determined by how well you assemble your team. You will need to have team members who have knowledge and expertise in their field, as well as be trustworthy and reliable. Following are players you need to recruit for your team.
Credit Repair Specialist - Even if you have good credit, it is always a good idea to have someone to repair and monitor your credit. Especially today where identity theft is prevalent, it is a good idea to monitor your credit in order to keep it in good standing.
Accountant - Keeping your accounts in proper order is difficult due to the various laws that apply to investors. Find an accountant who is familiar with these rules and regulations, is an investor himself, or works closely with real estate investors.
Real Estate Attorney - A good attorney is worth their weight in gold. There are just too many laws to learn yourself. Make sure they know the laws in your area and understand the types of deals you are going to be doing. Also I recommend you have them look over any contracts to make sure they are legal for your area.
Real Estate Agents - A real estate agent is good to have in case you decide to sell a property. In addition, the agent has access to the Multiple Listing Service (MLS). It may take a while, but find one that works with investors and understands the types of deal you are going to be looking for.
Title Company - You need to find a title company that works with investors and knows how to handle the types of deals you are going to be doing. They must also understand the investor terms you will be using and be able to close quickly if possible. Like the real estate agent, it may take awhile to find a title company you can work with.
Investment Advisor - An investment advisor is someone who can give you suggestions where to invest your profits. It is a good idea to have someone who does this full time and can give you sound advice to maximize your investment profile.
This should give you a good idea who you need to have on your real estate investment team. Having a good solid team will not only make investing easier, but it will also be more profitable.
วันอาทิตย์ที่ 30 มีนาคม พ.ศ. 2551
Sedona New Homes and Real Estate
Sedona New Homes and Real Estate
by Jayson Gibson
Sedona, Arizona has seen a significant increase in visitors and residents over the past several years. If you have ever visited, you would not be surprised. Sedona offers visitors and residents alike, beautiful scenic views of red rocks and mountain landscapes. The recent growth has attracted new business owners and an increase in the demand for new housing communities.
Sedona homebuyers will find attractively priced homes for sale that are equipped with energy saving products and green building materials. Be it an existing home or a new home, making a home investment in this city is sure to bring in its rewards in terms of built-up equity value in the coming years. Given today's housing market situation, this is particularly true. Home sales have slowed somewhat over the past several months, which has resulted in buyers having more options to choose from. Many industry experts predict home values to significantly increase as we move closer towards the latter part of 2009.
Sedona new home buyers can find many single-family homes, quick move-in homes, condos, and townhomes to choose from. Prospective homebuyers in the Sedona area should research a good real estate agency in the area to aid them with their new homes purchase.
Try to locate a buyer's agent when looking for the right real estate agent for your next home purchase. This will ensure that your interests are protected in every aspect of the home buying transaction. A buyer's agent works to appease the buyer and will, more than likely, always disclose all information available on the particular property under consideration. Unlike seller's agents who are often more interested in getting through with the deal; which causes them to focus more so on only the positive aspects of each property.
If you are purchasing a brand new home in Sedona, do not overlook having a new home inspection conducted. It is a common misconception that new homes are not without minor repair issues. Home inspection reports, clearly state out a property's condition and the buyer can be informed about a condition that needs to be looked into. If the seller or the builder refuses to acknowledge the existence of a problem condition specified in the home inspection report, or refuses to help, then the buyer should beware. A good real estate agent will bring this to their client's attention.
If you are building a custom home in Sedona, a local real estate agent will be able to suggest several reputable home builders. Home builders in Sedona offer multiple floor plans and variations to choose from; you can also have your own architect design your perfect home and have a local Sedona homebuilder build it for you.
by Jayson Gibson
Sedona, Arizona has seen a significant increase in visitors and residents over the past several years. If you have ever visited, you would not be surprised. Sedona offers visitors and residents alike, beautiful scenic views of red rocks and mountain landscapes. The recent growth has attracted new business owners and an increase in the demand for new housing communities.
Sedona homebuyers will find attractively priced homes for sale that are equipped with energy saving products and green building materials. Be it an existing home or a new home, making a home investment in this city is sure to bring in its rewards in terms of built-up equity value in the coming years. Given today's housing market situation, this is particularly true. Home sales have slowed somewhat over the past several months, which has resulted in buyers having more options to choose from. Many industry experts predict home values to significantly increase as we move closer towards the latter part of 2009.
Sedona new home buyers can find many single-family homes, quick move-in homes, condos, and townhomes to choose from. Prospective homebuyers in the Sedona area should research a good real estate agency in the area to aid them with their new homes purchase.
Try to locate a buyer's agent when looking for the right real estate agent for your next home purchase. This will ensure that your interests are protected in every aspect of the home buying transaction. A buyer's agent works to appease the buyer and will, more than likely, always disclose all information available on the particular property under consideration. Unlike seller's agents who are often more interested in getting through with the deal; which causes them to focus more so on only the positive aspects of each property.
If you are purchasing a brand new home in Sedona, do not overlook having a new home inspection conducted. It is a common misconception that new homes are not without minor repair issues. Home inspection reports, clearly state out a property's condition and the buyer can be informed about a condition that needs to be looked into. If the seller or the builder refuses to acknowledge the existence of a problem condition specified in the home inspection report, or refuses to help, then the buyer should beware. A good real estate agent will bring this to their client's attention.
If you are building a custom home in Sedona, a local real estate agent will be able to suggest several reputable home builders. Home builders in Sedona offer multiple floor plans and variations to choose from; you can also have your own architect design your perfect home and have a local Sedona homebuilder build it for you.
วันเสาร์ที่ 29 มีนาคม พ.ศ. 2551
Hyderabad's Real Estate to Gain From City's New Airport
Hyderabad's Real Estate to Gain From City's New Airport
by George Gonigal
Hyderabad has been in limelight ever since the launch of its new airport on March 23. The new Rajiv Gandhi International Airport at Shamshabad has brought glory to the city on many scores. With the coming of this airport, the city is already being tagged as a 'developed city'. This accolade will help the city in many ways than one. The city's infrastructure and real-estate will gain most from this development.
The property in and around Shamshabad is already in demand. Shamshabad was once a sleepy, small, sub-urban locality on the outskirts of Hyderabad. Today, this area witnesses important developmental activities and is being considered as a major property hub. Civic authorities have announced a slew of residential projects there. And private builders, both big and small, are picking up land banks to develop residential property there.
Shamshabad is connected to the city centre by a 30-km long road. The areas along this road will also benefit from the new airport. This road will serve as a major transport corridor for the traffic coming in and out of Shamshabad. Hence, property developers and builders are anticipating that this road will become a major transport link. Thus, land banks along this corridor will command high property value. Many of them are toying with the idea of starting commercial and corporate projects in and around these areas.
The new constructions are mostly happening in Kukatpally, Madhapur, Secunderabad and Hussain Sagar Lake. Property rates in Secunderabad and Hussain Sagar Lake are already hitting roof tops. The property values in Shamshabad are comparatively reasonable. Hence, the investors are hopeful of finding spacious land banks at affordable prices that will help them get phenomenal return on investments.
Need we say more, why the real estate professionals are packing their bags for Hyderabad? Certainly not. The city is bracing up to grab its place along with major cities like Delhi, Bangalore, Mumbai and Kolkata.
by George Gonigal
Hyderabad has been in limelight ever since the launch of its new airport on March 23. The new Rajiv Gandhi International Airport at Shamshabad has brought glory to the city on many scores. With the coming of this airport, the city is already being tagged as a 'developed city'. This accolade will help the city in many ways than one. The city's infrastructure and real-estate will gain most from this development.
The property in and around Shamshabad is already in demand. Shamshabad was once a sleepy, small, sub-urban locality on the outskirts of Hyderabad. Today, this area witnesses important developmental activities and is being considered as a major property hub. Civic authorities have announced a slew of residential projects there. And private builders, both big and small, are picking up land banks to develop residential property there.
Shamshabad is connected to the city centre by a 30-km long road. The areas along this road will also benefit from the new airport. This road will serve as a major transport corridor for the traffic coming in and out of Shamshabad. Hence, property developers and builders are anticipating that this road will become a major transport link. Thus, land banks along this corridor will command high property value. Many of them are toying with the idea of starting commercial and corporate projects in and around these areas.
The new constructions are mostly happening in Kukatpally, Madhapur, Secunderabad and Hussain Sagar Lake. Property rates in Secunderabad and Hussain Sagar Lake are already hitting roof tops. The property values in Shamshabad are comparatively reasonable. Hence, the investors are hopeful of finding spacious land banks at affordable prices that will help them get phenomenal return on investments.
Need we say more, why the real estate professionals are packing their bags for Hyderabad? Certainly not. The city is bracing up to grab its place along with major cities like Delhi, Bangalore, Mumbai and Kolkata.
Belize Real Estate: A Great Investment
Belize Real Estate: A Great Investment
by Jim Kesel
Gaining popularity in recent years as the ultimate place to retire or build a vacation home, Belize real estate is becoming more attractive than ever to many investors and retired property buyers.
Belize is the only English speaking country in Central America and it is also the only one without a shoreline on the Pacific. It only has the Caribbean Sea for its coastline and its neighboring countries are Guatemala to the west and south, and Mexico on its north. With the drive for development, eco-tourism and attractive retirement packages, it is no wonder that Belize real estate has experienced a surge.
If you are planning to put your money in Belize real estate, you have to understand the factors which guide real estate prices. First is the property type. Determine whether it is a commercial, residential, beach front, exclusive property area, or etc. Next is the location of the property. How far is it from the major towns or villages? Is it in a major tourist attraction? Remember, the first two factors (location and type of property) are the most important variables in land values.
Other things you have to consider when scouting for a good Belize real estate are: property accessibility, availability of major consumer needs such as water and electricity, and also, maturity of the property--was it already developed previously or is it virgin parcel of land?
In order to have a good idea of what can be considered a sufficient budget for Belize real estate, the average cost of a house in Belize is USD 45-75 per square foot. This is for small to medium scale houses. For above average residences, it starts from USD 75 per square foot and above.
In Belize City, a parcel of land can go as low as USD 8,000 and sky is the limit for those which are located in prime spots. If it is an acre of land in Cayo, Toldo, and Stan Creek, the standard cost starts from USD 2,500 up to USD 3,500. This also depends on its nearness to ocean or rivers.
If you are more inclined to purchase commercial and residential Belize real estate in upscale neighborhoods, then be prepared to shell out at least USD 40,000 for a parcel of land. In the Western and Southern district in main towns, you should have at least USD 20,000-30,000 to spend on the land.
In buying properties in Belize, you have to take note of the fees you have to consider in your budget. There is the recording fee, registration fees, publishing notices in the Government Gazette, registrar general's fee, and the attorney fees, which is usually 2% of the sale price. Lawyers are particularly helpful in understanding and arranging the deeds, contracts and other property transactions.
For both foreigners and citizens, a 5% fee is required of the selling deliberation as a transfer tax or stamp of duty to the government of Belize. To foreign investors who want to send home 100% of their investments or profits, they should register with the Central Bank all foreign exchange properties they have brought into the country. A minimum of BZD (Belizean Dollar) 250,000 must be invested in order to take advantage of such tax privilege. Applications can be submitted to Belize' Ministry of Economic Development.
It goes without saying that you will need to do a good job of researching the property you are interested in. Realtors are unlicensed by the Belize government so it very important to find an attorney or buyers agent that has a good reputation to assist you in the purchase process. Never the less purchasing Belize real estate is a good investment in a tropical paradise. Moving to Belize is really quite easy and having a great home there makes it even better.
by Jim Kesel
Gaining popularity in recent years as the ultimate place to retire or build a vacation home, Belize real estate is becoming more attractive than ever to many investors and retired property buyers.
Belize is the only English speaking country in Central America and it is also the only one without a shoreline on the Pacific. It only has the Caribbean Sea for its coastline and its neighboring countries are Guatemala to the west and south, and Mexico on its north. With the drive for development, eco-tourism and attractive retirement packages, it is no wonder that Belize real estate has experienced a surge.
If you are planning to put your money in Belize real estate, you have to understand the factors which guide real estate prices. First is the property type. Determine whether it is a commercial, residential, beach front, exclusive property area, or etc. Next is the location of the property. How far is it from the major towns or villages? Is it in a major tourist attraction? Remember, the first two factors (location and type of property) are the most important variables in land values.
Other things you have to consider when scouting for a good Belize real estate are: property accessibility, availability of major consumer needs such as water and electricity, and also, maturity of the property--was it already developed previously or is it virgin parcel of land?
In order to have a good idea of what can be considered a sufficient budget for Belize real estate, the average cost of a house in Belize is USD 45-75 per square foot. This is for small to medium scale houses. For above average residences, it starts from USD 75 per square foot and above.
In Belize City, a parcel of land can go as low as USD 8,000 and sky is the limit for those which are located in prime spots. If it is an acre of land in Cayo, Toldo, and Stan Creek, the standard cost starts from USD 2,500 up to USD 3,500. This also depends on its nearness to ocean or rivers.
If you are more inclined to purchase commercial and residential Belize real estate in upscale neighborhoods, then be prepared to shell out at least USD 40,000 for a parcel of land. In the Western and Southern district in main towns, you should have at least USD 20,000-30,000 to spend on the land.
In buying properties in Belize, you have to take note of the fees you have to consider in your budget. There is the recording fee, registration fees, publishing notices in the Government Gazette, registrar general's fee, and the attorney fees, which is usually 2% of the sale price. Lawyers are particularly helpful in understanding and arranging the deeds, contracts and other property transactions.
For both foreigners and citizens, a 5% fee is required of the selling deliberation as a transfer tax or stamp of duty to the government of Belize. To foreign investors who want to send home 100% of their investments or profits, they should register with the Central Bank all foreign exchange properties they have brought into the country. A minimum of BZD (Belizean Dollar) 250,000 must be invested in order to take advantage of such tax privilege. Applications can be submitted to Belize' Ministry of Economic Development.
It goes without saying that you will need to do a good job of researching the property you are interested in. Realtors are unlicensed by the Belize government so it very important to find an attorney or buyers agent that has a good reputation to assist you in the purchase process. Never the less purchasing Belize real estate is a good investment in a tropical paradise. Moving to Belize is really quite easy and having a great home there makes it even better.
Good news in Phoenix Real Estate
Good news in Phoenix Real Estate
by Gary Kiernan
At last, some good news for the Phoenix real estate market? Well, yes, but...
As I write this article, in the dying days of March, it seems that there may be a light at the end of the tunnel; and I do not believe it is a train coming towards us!
It has been reported, on a nation-wide basis, that existing home sales in February, 2008, actually rose. Something that has not occurred in seven months. So that gives us one reason for cautious optimism.
Also, the weakening of the U.S. dollar is not all bad news. It has made homes here in the United States a very attractive proposition for overseas buyers, and we have noticed a sizable increase in inquiries. Particularly from our neighbors in the north, many of whom seek retirement homes here in the Phoenix area, as a respite from the frigid temperatures that Canada often endures.
Locally, the news is a mixed bag depending on your geographical location. Carefree lived up to its name, reporting a median price 6.7% higher than last year, at $944,000. At the other end of the scale, Queen Creek saw a 19% drop in median prices. Why the disparity? Queen Creek is an entry-level community that appealed to a lot of first-time buyers, and "investors", that have been affected by the whole sub-prime mess. Consequently, the level of foreclosures and short-sales, plus the abandonment by said 'investors' has, naturally, had a detrimental effect on prices. Hopefully, this year will see these homes absorbed by real end-users to bring some level of stability back to the market.
Conversely, Carefree is an extremely upmarket, witness the median price, mostly retirement community that has emerged relatively unscathed by the vagaries of the real estate world. The reported increase of 6.7%, on the back of just 70 sales in 2007, reflects the fact that wealthy retirees, or snow-birders, who did not have to sell, are able to ride out the rough times. Also, wealthy buyers are able to pay higher prices for the quality that Carefree provides.
Interestingly, neighboring Cave Creek reported a drop of 4.7% in 2007 to $505,000. The reasons for this, I believe, are a little more nuanced. For reporting purposes zip code 85331 is used for Cave Creek. It does not make a distinction between houses actually in Phoenix, generally south of Carefree Highway, that share the zip code by post office whim. Home prices in "actual" Cave Creek have been quite resilient, but the statistics have been skewed slightly by the "not real" Cave Creek sales.
To sum up, things are starting to look up and I think 2008 will set us back on a path to normalcy, such as it is in real estate.
Buyers are timidly emerging, so sellers remember to price your home like 2008, not 2006, and all should be well.
by Gary Kiernan
At last, some good news for the Phoenix real estate market? Well, yes, but...
As I write this article, in the dying days of March, it seems that there may be a light at the end of the tunnel; and I do not believe it is a train coming towards us!
It has been reported, on a nation-wide basis, that existing home sales in February, 2008, actually rose. Something that has not occurred in seven months. So that gives us one reason for cautious optimism.
Also, the weakening of the U.S. dollar is not all bad news. It has made homes here in the United States a very attractive proposition for overseas buyers, and we have noticed a sizable increase in inquiries. Particularly from our neighbors in the north, many of whom seek retirement homes here in the Phoenix area, as a respite from the frigid temperatures that Canada often endures.
Locally, the news is a mixed bag depending on your geographical location. Carefree lived up to its name, reporting a median price 6.7% higher than last year, at $944,000. At the other end of the scale, Queen Creek saw a 19% drop in median prices. Why the disparity? Queen Creek is an entry-level community that appealed to a lot of first-time buyers, and "investors", that have been affected by the whole sub-prime mess. Consequently, the level of foreclosures and short-sales, plus the abandonment by said 'investors' has, naturally, had a detrimental effect on prices. Hopefully, this year will see these homes absorbed by real end-users to bring some level of stability back to the market.
Conversely, Carefree is an extremely upmarket, witness the median price, mostly retirement community that has emerged relatively unscathed by the vagaries of the real estate world. The reported increase of 6.7%, on the back of just 70 sales in 2007, reflects the fact that wealthy retirees, or snow-birders, who did not have to sell, are able to ride out the rough times. Also, wealthy buyers are able to pay higher prices for the quality that Carefree provides.
Interestingly, neighboring Cave Creek reported a drop of 4.7% in 2007 to $505,000. The reasons for this, I believe, are a little more nuanced. For reporting purposes zip code 85331 is used for Cave Creek. It does not make a distinction between houses actually in Phoenix, generally south of Carefree Highway, that share the zip code by post office whim. Home prices in "actual" Cave Creek have been quite resilient, but the statistics have been skewed slightly by the "not real" Cave Creek sales.
To sum up, things are starting to look up and I think 2008 will set us back on a path to normalcy, such as it is in real estate.
Buyers are timidly emerging, so sellers remember to price your home like 2008, not 2006, and all should be well.
วันศุกร์ที่ 21 มีนาคม พ.ศ. 2551
Real Estate Agents: Create A Lasting Presence With Professional Cds Of Information
Real Estate Agents: Create A Lasting Presence With Professional Cds Of Information
by Dale Kubin
When you work in real estate, competition is stiff. During a sellers' market, everyone who is even thinking about listing their home is going to be trying to find the one agent who can help them get the highest price for their home. During a buyers' market, everyone who is thinking about listing their home is going to be looking for that one agent who can make the sale; they don't want their home to stay on the market indefinitely, they want to know what an agent is going to do to make their home stand out and sell quickly. It all comes down to your listing presentation.
Which of these scenarios do you believe would leave a longer lasting impression?
a. You walk into a meeting with a seller with a stack of paper. On one sheet, there's a diagram of the housing market in their area. On another there's a copy of a traditional selling brochure. On another there are descriptions of how you create an audio recording for each property your represent. After you've met with them, you leave them with key paperwork and your business card; or
b. You walk into a meeting with a seller with a sense of what you'll be talking about and a professional CD or DVD of some of your best marketing tools. Included is an MP3 audio file of a recording on your info line about a property walking callers through a home, a movie file that shows a virtual tour as it will appear on our company website with the listing, an interactive sellers' guide. On the CD or DVD is your contact information - which also appears at the top and bottom of every file that is burned on the disc.
When sellers are able to explore the tools that you will use to help them sell their homes, they are more likely to remember your listing presentation - you're more likely to make a lasting impression on them. With the Nexis CD publishing system, creating these professional CD presentations is as simple as selecting the files of content and selecting the images and details of your business for the CD artwork.
The best part is that the Nexis CD publishing system enables you to save the artwork file as well as the content file; if you regularly use the same listing presentation, you'll simply be able to print and burn a new CD when it's needed. Alternately, you'll find that you can burn multiple copies in advance so that they are ready when you need them - saving you time when you need it most.
When you are able, as a real estate agent, to create a more professional listing presentation - and when you are able to provide prospective sellers with a professional CD that allows them to review that presentation before choosing a listing agent - you can be sure that sellers will remember what you had to say and what you have to offer. That will assuredly help you to get more listings - and make your business more successful.
by Dale Kubin
When you work in real estate, competition is stiff. During a sellers' market, everyone who is even thinking about listing their home is going to be trying to find the one agent who can help them get the highest price for their home. During a buyers' market, everyone who is thinking about listing their home is going to be looking for that one agent who can make the sale; they don't want their home to stay on the market indefinitely, they want to know what an agent is going to do to make their home stand out and sell quickly. It all comes down to your listing presentation.
Which of these scenarios do you believe would leave a longer lasting impression?
a. You walk into a meeting with a seller with a stack of paper. On one sheet, there's a diagram of the housing market in their area. On another there's a copy of a traditional selling brochure. On another there are descriptions of how you create an audio recording for each property your represent. After you've met with them, you leave them with key paperwork and your business card; or
b. You walk into a meeting with a seller with a sense of what you'll be talking about and a professional CD or DVD of some of your best marketing tools. Included is an MP3 audio file of a recording on your info line about a property walking callers through a home, a movie file that shows a virtual tour as it will appear on our company website with the listing, an interactive sellers' guide. On the CD or DVD is your contact information - which also appears at the top and bottom of every file that is burned on the disc.
When sellers are able to explore the tools that you will use to help them sell their homes, they are more likely to remember your listing presentation - you're more likely to make a lasting impression on them. With the Nexis CD publishing system, creating these professional CD presentations is as simple as selecting the files of content and selecting the images and details of your business for the CD artwork.
The best part is that the Nexis CD publishing system enables you to save the artwork file as well as the content file; if you regularly use the same listing presentation, you'll simply be able to print and burn a new CD when it's needed. Alternately, you'll find that you can burn multiple copies in advance so that they are ready when you need them - saving you time when you need it most.
When you are able, as a real estate agent, to create a more professional listing presentation - and when you are able to provide prospective sellers with a professional CD that allows them to review that presentation before choosing a listing agent - you can be sure that sellers will remember what you had to say and what you have to offer. That will assuredly help you to get more listings - and make your business more successful.
วันอังคารที่ 18 มีนาคม พ.ศ. 2551
Expert Witness Testimony for Real Estate
Expert Witness Testimony for Real Estate
by Patrick O'Connor
Expert witness analysis and testimony provides both the parties information to settle prior to the actual judicial proceeding. When settlement negotiations are not successful, expert witness testimony provides the trier of fact (judge or jury) information to consider in making their decision. Expert witness testimony is a subset of litigation support services. The expert witness' primary responsibility is to develop and support a credible opinion of value. The standard of care for expert witness assignments is substantially higher than for typical valuation assignments. Both opposing counsel and the expert witness representing the other party will likely carefully review and scrutinize the expert's underlying data, analysis and final report. Expert witnesses who develop an opinion of value which is unreasonable tend to cause cases to unnecessarily proceed to trial.
The higher standard of care appropriate for expert witness assignments extends through all phases of the assignment. The expert should precisely determine the scope and purpose of the assignment. This includes the letter of engagement, scope of work, research, report preparation, deposition and trial testimony, and preparation for deposition and trial testimony. All data needs to be researched and verified. In many cases, even if sales data has been previously confirmed, it will be verified a second time for the expert witness assignment. Even if the factual data regarding a comparable sale is accurate, issues relating to the motivations of the party can be meaningful. For example, if a purchaser was anxious to purchase it a property because they own the adjacent property, this could artificially influence the sales price. If an expert witness was unaware of such a fact, it could undermine their credibility during a deposition or at trial. The calculations and thought process for the analysis need to be checked and double-checked, as do the report. The expert needs to carefully prepare for both deposition and trial testimony.
Appraisers sometimes believe that preparing a voluminous narrative appraisal, totaling perhaps 200 pages, which effectively documents their opinion is helpful for litigation. However, it is virtually impossible to prepare a voluminous document without overlooking minor errors. For this reason, is typically better to summarize the data and opinion instead of presenting them in a voluminous report. Preparing a summary report also helps to reduce the cost of an expert witness engagement. While it is important to carefully research the facts and perform a thorough analysis, there is little benefit to preparing a voluminous report.
It is imperative that the expert witness understand that the objective of opposing counsel is to discredit the witness and their testimony. Any aspects of the experts' opinion, data, analysis or testimony which does not appear to be reasonable provide opposing counsel an excellent opportunity to discredit the expert witness. Typographical errors and minor math mistakes can be effectively utilized to undermine the expert witness's credibility. If the expert has made a mistake, he should promptly admit it. While all people make mistakes, those who deny them lose credibility.
The expert witness needs to be an advocate for their analysis and opinion, not for their client. Novice expert witnesses sometimes succumb to pressure from clients or other parties to develop an opinion which is not reasonable, credible or supportable. While this approach initially appears helpful to the client, it does not typically provide meaningful assistance to legal counsel or the client since it is not credible evidence for trial. Therefore, it is not efficacious for resolving litigation. In addition, opining an unreasonable opinion has a deleterious effect on the reputation of the expert witness. Expert witnesses who provide legitimate and credible opinions of value provide a meaningful benefit to their clients, counsel and the judicial process. Most cases settle when the experts provide a well-supported analysis.
A credible expert witness who is properly prepared to document and articulate a credible opinion is an integral part of the team necessary to resolve cases before trial or win at trial. In some cases, it makes sense to initially hire the expert witness as a consulting expert. If the expert's opinion is not consistent with what counsel is hoping to receive, the opinion and/or report does not have to be provided to opposing counsel. Legal counsel and the expert witness need to directly discuss the strengths and weaknesses of the case. Although a credible report may not comply with the exact preference of the party or counsel, it is an effective method to provide counsel with the insights they need to effectively resolve the case.
O'Connor and Associates is the largest independent appraisal firm in the southwestern US and has over 40 full-time staff members engaged full-time in valuation and market study assignments. Their expertise includes valuing commercial and single-family real estate, business personal property, business enterprise value, purchase price allocation for businesses, valuation for property tax assignments, partial interest valuation, estate tax valuation, expert witness testimony and valuation for condemnation. They have provided litigation support and expert witness testimony in hundreds of cases.
To obtain a quote or further information regarding expert witness testimony, contact either gthomas@poconnor.com George Thomas or cyoung@poconnor.com Craig Young at 713-686-995.
by Patrick O'Connor
Expert witness analysis and testimony provides both the parties information to settle prior to the actual judicial proceeding. When settlement negotiations are not successful, expert witness testimony provides the trier of fact (judge or jury) information to consider in making their decision. Expert witness testimony is a subset of litigation support services. The expert witness' primary responsibility is to develop and support a credible opinion of value. The standard of care for expert witness assignments is substantially higher than for typical valuation assignments. Both opposing counsel and the expert witness representing the other party will likely carefully review and scrutinize the expert's underlying data, analysis and final report. Expert witnesses who develop an opinion of value which is unreasonable tend to cause cases to unnecessarily proceed to trial.
The higher standard of care appropriate for expert witness assignments extends through all phases of the assignment. The expert should precisely determine the scope and purpose of the assignment. This includes the letter of engagement, scope of work, research, report preparation, deposition and trial testimony, and preparation for deposition and trial testimony. All data needs to be researched and verified. In many cases, even if sales data has been previously confirmed, it will be verified a second time for the expert witness assignment. Even if the factual data regarding a comparable sale is accurate, issues relating to the motivations of the party can be meaningful. For example, if a purchaser was anxious to purchase it a property because they own the adjacent property, this could artificially influence the sales price. If an expert witness was unaware of such a fact, it could undermine their credibility during a deposition or at trial. The calculations and thought process for the analysis need to be checked and double-checked, as do the report. The expert needs to carefully prepare for both deposition and trial testimony.
Appraisers sometimes believe that preparing a voluminous narrative appraisal, totaling perhaps 200 pages, which effectively documents their opinion is helpful for litigation. However, it is virtually impossible to prepare a voluminous document without overlooking minor errors. For this reason, is typically better to summarize the data and opinion instead of presenting them in a voluminous report. Preparing a summary report also helps to reduce the cost of an expert witness engagement. While it is important to carefully research the facts and perform a thorough analysis, there is little benefit to preparing a voluminous report.
It is imperative that the expert witness understand that the objective of opposing counsel is to discredit the witness and their testimony. Any aspects of the experts' opinion, data, analysis or testimony which does not appear to be reasonable provide opposing counsel an excellent opportunity to discredit the expert witness. Typographical errors and minor math mistakes can be effectively utilized to undermine the expert witness's credibility. If the expert has made a mistake, he should promptly admit it. While all people make mistakes, those who deny them lose credibility.
The expert witness needs to be an advocate for their analysis and opinion, not for their client. Novice expert witnesses sometimes succumb to pressure from clients or other parties to develop an opinion which is not reasonable, credible or supportable. While this approach initially appears helpful to the client, it does not typically provide meaningful assistance to legal counsel or the client since it is not credible evidence for trial. Therefore, it is not efficacious for resolving litigation. In addition, opining an unreasonable opinion has a deleterious effect on the reputation of the expert witness. Expert witnesses who provide legitimate and credible opinions of value provide a meaningful benefit to their clients, counsel and the judicial process. Most cases settle when the experts provide a well-supported analysis.
A credible expert witness who is properly prepared to document and articulate a credible opinion is an integral part of the team necessary to resolve cases before trial or win at trial. In some cases, it makes sense to initially hire the expert witness as a consulting expert. If the expert's opinion is not consistent with what counsel is hoping to receive, the opinion and/or report does not have to be provided to opposing counsel. Legal counsel and the expert witness need to directly discuss the strengths and weaknesses of the case. Although a credible report may not comply with the exact preference of the party or counsel, it is an effective method to provide counsel with the insights they need to effectively resolve the case.
O'Connor and Associates is the largest independent appraisal firm in the southwestern US and has over 40 full-time staff members engaged full-time in valuation and market study assignments. Their expertise includes valuing commercial and single-family real estate, business personal property, business enterprise value, purchase price allocation for businesses, valuation for property tax assignments, partial interest valuation, estate tax valuation, expert witness testimony and valuation for condemnation. They have provided litigation support and expert witness testimony in hundreds of cases.
To obtain a quote or further information regarding expert witness testimony, contact either gthomas@poconnor.com George Thomas or cyoung@poconnor.com Craig Young at 713-686-995.
Choosing a Real Estate Agent in Fairfield County CT
Choosing a Real Estate Agent in Fairfield County CT
by Scott Jenkins
When you're looking to purchase real estate in Fairfield County, chances are you're looking for an amazing real estate agent. Buying a new home can be exciting, frightening and much more. What should you look for when you want to purchase real estate through finding the best real estate agent ever? Here area few tips to help you do just that.
In Fairfield County alone, there are over seven hundred real estate agents, all waiting to try and help you purchase the home that you are dreaming of. Unfortunately, from those seven hundred or so, 85% usually make the sales. This is important to know because you want to purchase your Connecticut home quickly and get back to living your life. When you're talking to a real estate agent, ask for references and use them! If you're not sure about something, speak up. You do not want to let them take control of the situation. You're the one who is going to purchase the home. Be sure that all of your questions have been answered and that you feel comfortable with the answers.
One question that is worth asking is how many homes that real estate agent has listed and sold in the last year. This is a perfectly valid question and if your potential real estate agent doesn't want to answer questions or hesitates, you should probably work on another real estate agent. You want them to be like an open book and very honest and forthcoming with you. Another question you may want to ask is if you can call some references. When you're purchasing real estate or working with a real estate agent in Fairfield County CT, you want to know what kind of experiences others have had with them. This is a very important thing. Most people who have had excellent experience with a real estate agent will not hesitate to tell you and if they have had bad experience with a real estate agent, they will want to tell you even more so! This is something that you should not neglect. Find out who you are going to be potentially working with.
Use your intuition. How do you feel as you are having a conversation with the real estate agent? Are you comfortable with them? Do you feel as if they are trying to rush you so that they can get on with their lives? Are you able to speak with them without reserve and feel comfortable to do so? Each one of these things should affect your choice for a Fairfield County Real Estate Agent. Then, you can find a great one that is all you expected in a real estate agent. Those who do their homework will be much more satisfied with the real estate agent they end up with.
by Scott Jenkins
When you're looking to purchase real estate in Fairfield County, chances are you're looking for an amazing real estate agent. Buying a new home can be exciting, frightening and much more. What should you look for when you want to purchase real estate through finding the best real estate agent ever? Here area few tips to help you do just that.
In Fairfield County alone, there are over seven hundred real estate agents, all waiting to try and help you purchase the home that you are dreaming of. Unfortunately, from those seven hundred or so, 85% usually make the sales. This is important to know because you want to purchase your Connecticut home quickly and get back to living your life. When you're talking to a real estate agent, ask for references and use them! If you're not sure about something, speak up. You do not want to let them take control of the situation. You're the one who is going to purchase the home. Be sure that all of your questions have been answered and that you feel comfortable with the answers.
One question that is worth asking is how many homes that real estate agent has listed and sold in the last year. This is a perfectly valid question and if your potential real estate agent doesn't want to answer questions or hesitates, you should probably work on another real estate agent. You want them to be like an open book and very honest and forthcoming with you. Another question you may want to ask is if you can call some references. When you're purchasing real estate or working with a real estate agent in Fairfield County CT, you want to know what kind of experiences others have had with them. This is a very important thing. Most people who have had excellent experience with a real estate agent will not hesitate to tell you and if they have had bad experience with a real estate agent, they will want to tell you even more so! This is something that you should not neglect. Find out who you are going to be potentially working with.
Use your intuition. How do you feel as you are having a conversation with the real estate agent? Are you comfortable with them? Do you feel as if they are trying to rush you so that they can get on with their lives? Are you able to speak with them without reserve and feel comfortable to do so? Each one of these things should affect your choice for a Fairfield County Real Estate Agent. Then, you can find a great one that is all you expected in a real estate agent. Those who do their homework will be much more satisfied with the real estate agent they end up with.
วันจันทร์ที่ 17 มีนาคม พ.ศ. 2551
Real Estate Appraisal - Home Inspection
Real Estate Appraisal - Home Inspection
by Adam Morien
In today's real estate market, the last thing anyone wants to worry about when buying or selling a home is appraisal price accuracy. Whether it's a home remodeled home or vacation condo, the integrity of your real estate appraisal value can mean the difference in thousands of dollars for the buyer or seller. Things like exaggerated stress towards a home's minor eye sores are commonly ill-reported to manipulate the overall appraisal price - this in turn can result in an increased sales commission for the real estate agent. However, a proactive buyer or seller can avoid these mishaps with thorough and proper home inspection. Today, numerous real estate appraisal resources such as DVD's, videos and insightful courses are available to help people just like you stay safe and protected.
When it comes to buying or selling a home, it doesn't take long to figure out that establishing an appraisal price might seemingly be quite the daunting task. Without the eyes of a trained professional, it's presumably impossible. Appraisers factor in things like location, square footage, foundation, utilities, market and improvements made just to get started. When engaging in a real estate deal, home buyers or sellers aren't always privy to these factors. But with Real estate appraisal tools from Nemmar, it's possible to go into potential deals with the trained eye of a professional. With their books, DVD's and videos, it's possible to educate buyers and sellers and further strengthen their real estate appraisal knowledge.
For example, home inspection is just one of the real estate appraisal categories that Nemmar focuses on to educate ready home buyers or sellers. Their full catalog of tools and resources can teach anyone the factors one needs to consider through any potential transaction. For any home inspection situation, these DVD's and videos will walk you through, step-by-step, allowing you to gain the knowledge necessary to ensure an accurate deal and dissuade any potential manipulation of appraisal values.
Considering the volatile nature of the real estate market at times, it's important for buyers and sellers to stay abreast with current topics that concern the real estate industry. Fortunately, the products offered by Nemmar allow for thorough education in easy to understand lessons covering every facet of the real estate game. Whether you're buying or selling a home, everything you could need to know regarding real estate appraisal and other industry topics can be learned from the numerous products available from Nemmar.
by Adam Morien
In today's real estate market, the last thing anyone wants to worry about when buying or selling a home is appraisal price accuracy. Whether it's a home remodeled home or vacation condo, the integrity of your real estate appraisal value can mean the difference in thousands of dollars for the buyer or seller. Things like exaggerated stress towards a home's minor eye sores are commonly ill-reported to manipulate the overall appraisal price - this in turn can result in an increased sales commission for the real estate agent. However, a proactive buyer or seller can avoid these mishaps with thorough and proper home inspection. Today, numerous real estate appraisal resources such as DVD's, videos and insightful courses are available to help people just like you stay safe and protected.
When it comes to buying or selling a home, it doesn't take long to figure out that establishing an appraisal price might seemingly be quite the daunting task. Without the eyes of a trained professional, it's presumably impossible. Appraisers factor in things like location, square footage, foundation, utilities, market and improvements made just to get started. When engaging in a real estate deal, home buyers or sellers aren't always privy to these factors. But with Real estate appraisal tools from Nemmar, it's possible to go into potential deals with the trained eye of a professional. With their books, DVD's and videos, it's possible to educate buyers and sellers and further strengthen their real estate appraisal knowledge.
For example, home inspection is just one of the real estate appraisal categories that Nemmar focuses on to educate ready home buyers or sellers. Their full catalog of tools and resources can teach anyone the factors one needs to consider through any potential transaction. For any home inspection situation, these DVD's and videos will walk you through, step-by-step, allowing you to gain the knowledge necessary to ensure an accurate deal and dissuade any potential manipulation of appraisal values.
Considering the volatile nature of the real estate market at times, it's important for buyers and sellers to stay abreast with current topics that concern the real estate industry. Fortunately, the products offered by Nemmar allow for thorough education in easy to understand lessons covering every facet of the real estate game. Whether you're buying or selling a home, everything you could need to know regarding real estate appraisal and other industry topics can be learned from the numerous products available from Nemmar.
Buying Real Estate in the US - Tips for Canadians
Buying Real Estate in the US - Tips for Canadians
by Mike Fears
The recent turmoil in the US housing market has a lot of Canadians looking at the southern states. There are opportunities, but there are also major problems for the first-time investor. Here are a few things to keep in mind if you are looking to get that sunshine property.
Know what you want to do with the property. If you are going to "buy and hold" - find out how much that will cost in terms of taxes, insurance, utilities, maintenance, security, etc. Make sure you have a good idea of your expenses before you discover you have bought a money pit. If you are going to resell, make sure you can resell at a profit. The costs of buying and selling can vary a great deal between states and counties - do your homework - and not all markets are created equal. Know how much you can sell or flip a house for before you spend your cash. If you are renting it out, make sure you can rent it at a profit. If you are willing to take a loss in order to realize appreciation in the future, you are braver soul than I. I don't do negative cash flow and don't recommend it to anyone.
Don't jump into a rapidly depreciating market. Most areas of the southern US are declining real estate markets. The number of houses and condos for sale in many markets is huge and growing daily. This only reduces prices for buyers and landlords. That's one thing that you need to know if you want to rent out an income property - rents drop along with house prices. It's tough to resell a house, for a profit, if the value keeps going down. Even though people tell you "it's a buyer's market" or "now is the right time to buy" - do your own homework. If the trend is down, wait it out a bit. You'll protect yourself from losses, regrets, or both.
Confirm the information you receive from local realtors. Let's be frank - realtors need to sell property and they want you to buy that property. They will tell you "the market is at bottom" and "this is an incredible deal" and "it won't last long" - even when, in their hearts, they know better. You need to verify for yourself - is the market at bottom, really? Is the property really at its lowest price? We've dealt with good and not-so-good realtors. Even the good ones slide into the sales routine that we need to buy the wrong properties, in the wrong places, at the wrong prices - just because they need to sell something. With the current frenzy in the southern US, this is a real problem for new investors. Don't get blinded by the "expert" opinions on local real estate markets.
Last year was great - so what? Our recent time in the southern US was spent listening to how many "deals" there were. Every realtor and asset manager told us how great this or that price was, what a steal a particular house was. It was constant, but it was all about last year's prices. It had nothing to do with the price right now, what the property would be worth next month, and whether or not we (as investors) could make money at it. It's important to realize that many areas of the southern US real estate market were very overpriced - the "deal" today is only a deal compared to yesterday. Based on today or next week, you might actually be paying way too much.
Costs will eat you alive. When you are buying - for yourself or as an investment - keep a close watch on your costs. Verify the taxes, insurance, maintenance, and all that stuff. Closing costs can exceed 10,000 in some areas, really throwing your budget into the dumpster. Make sure that special assessments, reassessments, and additional charges are disclosed or itemized so you know what's happening. If you need to renovate - well, that's a separate discussion on how to lose money in real estate. As a Canadian, the income you generate from rentals can be very heavily taxed in the US and in Canada. Get decent tax advice - it could be the difference between making and losing money.
Here are a few tips which I hope Canadians will take to heart before they jump into the southern US real estate market.
by Mike Fears
The recent turmoil in the US housing market has a lot of Canadians looking at the southern states. There are opportunities, but there are also major problems for the first-time investor. Here are a few things to keep in mind if you are looking to get that sunshine property.
Know what you want to do with the property. If you are going to "buy and hold" - find out how much that will cost in terms of taxes, insurance, utilities, maintenance, security, etc. Make sure you have a good idea of your expenses before you discover you have bought a money pit. If you are going to resell, make sure you can resell at a profit. The costs of buying and selling can vary a great deal between states and counties - do your homework - and not all markets are created equal. Know how much you can sell or flip a house for before you spend your cash. If you are renting it out, make sure you can rent it at a profit. If you are willing to take a loss in order to realize appreciation in the future, you are braver soul than I. I don't do negative cash flow and don't recommend it to anyone.
Don't jump into a rapidly depreciating market. Most areas of the southern US are declining real estate markets. The number of houses and condos for sale in many markets is huge and growing daily. This only reduces prices for buyers and landlords. That's one thing that you need to know if you want to rent out an income property - rents drop along with house prices. It's tough to resell a house, for a profit, if the value keeps going down. Even though people tell you "it's a buyer's market" or "now is the right time to buy" - do your own homework. If the trend is down, wait it out a bit. You'll protect yourself from losses, regrets, or both.
Confirm the information you receive from local realtors. Let's be frank - realtors need to sell property and they want you to buy that property. They will tell you "the market is at bottom" and "this is an incredible deal" and "it won't last long" - even when, in their hearts, they know better. You need to verify for yourself - is the market at bottom, really? Is the property really at its lowest price? We've dealt with good and not-so-good realtors. Even the good ones slide into the sales routine that we need to buy the wrong properties, in the wrong places, at the wrong prices - just because they need to sell something. With the current frenzy in the southern US, this is a real problem for new investors. Don't get blinded by the "expert" opinions on local real estate markets.
Last year was great - so what? Our recent time in the southern US was spent listening to how many "deals" there were. Every realtor and asset manager told us how great this or that price was, what a steal a particular house was. It was constant, but it was all about last year's prices. It had nothing to do with the price right now, what the property would be worth next month, and whether or not we (as investors) could make money at it. It's important to realize that many areas of the southern US real estate market were very overpriced - the "deal" today is only a deal compared to yesterday. Based on today or next week, you might actually be paying way too much.
Costs will eat you alive. When you are buying - for yourself or as an investment - keep a close watch on your costs. Verify the taxes, insurance, maintenance, and all that stuff. Closing costs can exceed 10,000 in some areas, really throwing your budget into the dumpster. Make sure that special assessments, reassessments, and additional charges are disclosed or itemized so you know what's happening. If you need to renovate - well, that's a separate discussion on how to lose money in real estate. As a Canadian, the income you generate from rentals can be very heavily taxed in the US and in Canada. Get decent tax advice - it could be the difference between making and losing money.
Here are a few tips which I hope Canadians will take to heart before they jump into the southern US real estate market.
Cemetery Plots As A Practical Real Estate Investment
Cemetery Plots As A Practical Real Estate Investment
by Hal Stevens
Many years ago, in one of his many flashes of investment brilliance, my father decided to purchase four cemetery plots; one for each of the members of my immediate family. Many years later I decided to check on the value of the two remaining plots and I was very surprised at how much they had increased value.
After my father and then mother died my sister and I used the plots my father had purchased for their burial. Within the last few years, since I no longer live in the New York City area, I decided to get rid of the two remaining plots. I would prefer to be buried with my wife when we die and will be buried somewhere other than my childhood area. But how would I dispose of these two remaining plots, and what was their value?
After discussing the situation with my sister I decided that it would be best to just gift her the two plots so that she and my brother-in-law could be buried there. While checking on the transfer process I decided, out of curiosity, to do some investigating. WOW! What an investment these had turned out to be. The value had increased substantially since their original purchase.
I'm not trying to suggest that an investment in well located cemetery plots is the next great global investment opportunity. I can tell you that like many other real estate investments there are many factors that must be considered: these can increase in value or decrease in value, in some areas they are in short supply, they are available in many price levels for each market, there is a continuous clientele for this property, location and type of restrictions and quality of structures and services is important, and there is a vibrant resale market. In fact, while doing my research I discovered that there are many online brokers who assist in the resale of cemetery plots.
Even with the growth of cremation, the development of memorial parks and gardens will change the cemetery concept and allow for increased value potential over time. If you do your homework, and you can buy right, whether these are for personal use or for resale (where it is legal to do so) you just might find that over time your decision to purchase cemetery plots was a very wise investment.
by Hal Stevens
Many years ago, in one of his many flashes of investment brilliance, my father decided to purchase four cemetery plots; one for each of the members of my immediate family. Many years later I decided to check on the value of the two remaining plots and I was very surprised at how much they had increased value.
After my father and then mother died my sister and I used the plots my father had purchased for their burial. Within the last few years, since I no longer live in the New York City area, I decided to get rid of the two remaining plots. I would prefer to be buried with my wife when we die and will be buried somewhere other than my childhood area. But how would I dispose of these two remaining plots, and what was their value?
After discussing the situation with my sister I decided that it would be best to just gift her the two plots so that she and my brother-in-law could be buried there. While checking on the transfer process I decided, out of curiosity, to do some investigating. WOW! What an investment these had turned out to be. The value had increased substantially since their original purchase.
I'm not trying to suggest that an investment in well located cemetery plots is the next great global investment opportunity. I can tell you that like many other real estate investments there are many factors that must be considered: these can increase in value or decrease in value, in some areas they are in short supply, they are available in many price levels for each market, there is a continuous clientele for this property, location and type of restrictions and quality of structures and services is important, and there is a vibrant resale market. In fact, while doing my research I discovered that there are many online brokers who assist in the resale of cemetery plots.
Even with the growth of cremation, the development of memorial parks and gardens will change the cemetery concept and allow for increased value potential over time. If you do your homework, and you can buy right, whether these are for personal use or for resale (where it is legal to do so) you just might find that over time your decision to purchase cemetery plots was a very wise investment.
Myths In Dealing Real Estate
Myths In Dealing Real Estate
by Leah Dean
Most of the people can afford a mortgage payment and associated costs to owning their own home but the thought of coming up with a substantial down payment often stops them from taking the plunge. Some of charity organizations and federal institutions are available to these buyers to assist with this problem. The following discussion suggests what can be done to assist the home buyer in need of financial assistance. Assistance programs for down payment, both non- profit and federally run; help interested home buyers with procuring down payment on a home. The person who sells the home assists the buyer by contributing a portion of sale proceeds to the home buyer at the time of closing. As federal and state laws dictate that the seller cannot give the funds directly to the buyer, the assistance programs provide a work around so that the sale stays within federal guidelines. The amount gifted is determined by the type of loan that is being applied for. The selling party contributes the amount the buyer needs for closing. A certain amount of fee applies here. As the buyer and seller approach the closing table, the assistance program that the seller has enrolled in then wires the needed funds to the selling agent. According to law, the seller can have no part in the transfer of any funds. In this scenario there are agencies which provide help. The major and best source of funding comes through the Federal Housing Authority (FHA). The Federal Housing Authority is a branch of the Department of Housing and Urban Development (HUD) which was created in 1965. The prime responsibility of the Federal Housing Authority is to administer government home loan programs. As the loan is insured by the Federal Housing Authority, the lender is protected in case of default. These agencies also take care of the debt to income ratios differently. The standard set criteria in the lending industry is a debt to income ratio of twenty eight to thirty six percent, but the Federal Housing Authority has a standard of twenty nine to forty one percent.
By this the buyer are offered with less than perfect credit an advantage. The Federal Housing Authority also works with people on however many loans they wish to pursue. It is not just a one shot deal for consumers. The main disadvantage of a Federal Housing Authority loan is that there are limitations on the size of loan they will administer. We cannot call it a disadvantage to people who are pursuing a Federal Housing Authority loan. This is because people who require this type of assistance are not looking to buy home costing lots of money. Federal Housing Authority guidelines are readily available by doing a search on the internet.
by Leah Dean
Most of the people can afford a mortgage payment and associated costs to owning their own home but the thought of coming up with a substantial down payment often stops them from taking the plunge. Some of charity organizations and federal institutions are available to these buyers to assist with this problem. The following discussion suggests what can be done to assist the home buyer in need of financial assistance. Assistance programs for down payment, both non- profit and federally run; help interested home buyers with procuring down payment on a home. The person who sells the home assists the buyer by contributing a portion of sale proceeds to the home buyer at the time of closing. As federal and state laws dictate that the seller cannot give the funds directly to the buyer, the assistance programs provide a work around so that the sale stays within federal guidelines. The amount gifted is determined by the type of loan that is being applied for. The selling party contributes the amount the buyer needs for closing. A certain amount of fee applies here. As the buyer and seller approach the closing table, the assistance program that the seller has enrolled in then wires the needed funds to the selling agent. According to law, the seller can have no part in the transfer of any funds. In this scenario there are agencies which provide help. The major and best source of funding comes through the Federal Housing Authority (FHA). The Federal Housing Authority is a branch of the Department of Housing and Urban Development (HUD) which was created in 1965. The prime responsibility of the Federal Housing Authority is to administer government home loan programs. As the loan is insured by the Federal Housing Authority, the lender is protected in case of default. These agencies also take care of the debt to income ratios differently. The standard set criteria in the lending industry is a debt to income ratio of twenty eight to thirty six percent, but the Federal Housing Authority has a standard of twenty nine to forty one percent.
By this the buyer are offered with less than perfect credit an advantage. The Federal Housing Authority also works with people on however many loans they wish to pursue. It is not just a one shot deal for consumers. The main disadvantage of a Federal Housing Authority loan is that there are limitations on the size of loan they will administer. We cannot call it a disadvantage to people who are pursuing a Federal Housing Authority loan. This is because people who require this type of assistance are not looking to buy home costing lots of money. Federal Housing Authority guidelines are readily available by doing a search on the internet.
วันอาทิตย์ที่ 16 มีนาคม พ.ศ. 2551
Take Your Time When Choosing A Real Estate Agent In Chicago
Take Your Time When Choosing A Real Estate Agent In Chicago
by Mark Shellby
Your initial venture into buying a house may be tension filled and thrilling at the same time. It is a big step to buy a house you may keep forever. Just think about how you can customize it to make it reflect you and your style. With the wealth of properties out there, you really need to employ the services of an experienced agent as you scour the market for the place of your dreams.
In Chicago, there are hundreds of homes for sale in all parts of the city and surrounding suburbs. Chicago real estate can be a very confusing place, so it is vital to choose the right agent to help you. It is important for you to know to some extent what you are looking for. Walking into real estate agents in Chicago with no ideas at all can be frustrating to you and to the agent.
There is such a wealth of realtors in Chicago from which to pick. Acquaintances and family members in the region might have useful referrals to give you, so you should discuss your quest with them. If that doesn't help, you can always do some internet research yourself. Type "real estate agents in Chicago" into one of the popular search engines and hundreds of links will appear on your screen.
If you have the right agent he or she will make choosing you house a lot easier. The agent that you choice should honor your needs and not try to force you into any deal or intimidate you. You need to feel really comfortable and satisfied before you purchase a home. The agent is working for you and receiving a commission and should be very helpful to you. Make sure you have a good working relationship with the agent.
When you have finalized your selection for you from a pool of real estate agents in Chicago, you must make your specifications clear of what you are looking for in your new home. By providing these specifications you utilize your time and your agent's time most efficiently by eliminating those homes you are not interested in. Additionally by having a list of desired traits in your new home your agent can seek out only those homes which will meet all of those characteristics.
Buying a house is an enormous undertaking, and it can have lifelong effects. Today's market offers so many homes, particularly in a city like Chicago, so a professional realtor is almost a necessity. A good real estate agent can ease the pain and stress of locating your dream home. For this reason, it is vital to select an agent with whom you can see eye to eye.
by Mark Shellby
Your initial venture into buying a house may be tension filled and thrilling at the same time. It is a big step to buy a house you may keep forever. Just think about how you can customize it to make it reflect you and your style. With the wealth of properties out there, you really need to employ the services of an experienced agent as you scour the market for the place of your dreams.
In Chicago, there are hundreds of homes for sale in all parts of the city and surrounding suburbs. Chicago real estate can be a very confusing place, so it is vital to choose the right agent to help you. It is important for you to know to some extent what you are looking for. Walking into real estate agents in Chicago with no ideas at all can be frustrating to you and to the agent.
There is such a wealth of realtors in Chicago from which to pick. Acquaintances and family members in the region might have useful referrals to give you, so you should discuss your quest with them. If that doesn't help, you can always do some internet research yourself. Type "real estate agents in Chicago" into one of the popular search engines and hundreds of links will appear on your screen.
If you have the right agent he or she will make choosing you house a lot easier. The agent that you choice should honor your needs and not try to force you into any deal or intimidate you. You need to feel really comfortable and satisfied before you purchase a home. The agent is working for you and receiving a commission and should be very helpful to you. Make sure you have a good working relationship with the agent.
When you have finalized your selection for you from a pool of real estate agents in Chicago, you must make your specifications clear of what you are looking for in your new home. By providing these specifications you utilize your time and your agent's time most efficiently by eliminating those homes you are not interested in. Additionally by having a list of desired traits in your new home your agent can seek out only those homes which will meet all of those characteristics.
Buying a house is an enormous undertaking, and it can have lifelong effects. Today's market offers so many homes, particularly in a city like Chicago, so a professional realtor is almost a necessity. A good real estate agent can ease the pain and stress of locating your dream home. For this reason, it is vital to select an agent with whom you can see eye to eye.
วันเสาร์ที่ 15 มีนาคม พ.ศ. 2551
Landlord's Approach to Real Estate Investing
Landlord's Approach to Real Estate Investing
by Denton Ward
Over the last decade, the high home appreciation and low mortgage interest rates have enticed buyers to become real estate speculators (flippers) and not long term real estate investors. Unfortunately for speculators, the real estate market today is not lucrative for making quick profits. While home appreciation has slowed and inventory on the market is rising, real estate investors are looking to a “buy and hold†strategy.
Many real estate buyers are adopting the landlord approach to investing. To buy and hold a property, through spikes and dips of home values, has attracted the attention of new investors and pompous speculators.
The Landlord Approach
Buying and holding investment properties is a long term investment goal. The returns and margins made on long term investments is far more risk adverse than speculation. However, the idea and implementation of making $50,000 to $150,000 in two months time would surely get anybody excited. But, the landlord approach in real estate is like a mutual fund - you don’t worry about the day to day earnings; you look at your earnings after 5 or 10 years. For instance, in today’s real estate market, home prices may be stagnant or even be declining. In time, your investments will likely increase at a steady and formidable rate; possibly doubling or tripling the purchase price of the home vs. the quick profits made by flipping the home.
Another benefit to purchasing a property in 2008 and renting it out is that rents are rising. Because real estate is not appreciating like it had before the 2008 year, people are not as inclined to purchase a property. Home buyers are more likely to rent and wait to ride the wave of decreasing home prices. They are looking for a bargain price of home values, but in the meantime must save money to purchase a property by renting. The supply of rentals is increasing due to the over valuation of homes available to purchase. Renting a home is easier than in the prior decade.
"The best way to become a millionaire is to borrow a million dollars and have your renters pay it off.â€
A Success Strategy
Start small. Becoming a landlord is not normally all fun and games. There are situations and problems that arise when dealing with tenants. Therefore, if even one can afford to buy an apartment complex, it is suggested that they start small and purchase a single family home. One must get their feet wet and test the water before jumping in. The analogy extends to real estate investing. New landlords often underestimate the challenges of owning rental property. As an investor, pace yourself with a single family home or duplex. Work your way up to apartment buildings and commercial properties. The single family homes and duplexes will help you create the wealth to invest in larger projects.
Happy investing
by Denton Ward
Over the last decade, the high home appreciation and low mortgage interest rates have enticed buyers to become real estate speculators (flippers) and not long term real estate investors. Unfortunately for speculators, the real estate market today is not lucrative for making quick profits. While home appreciation has slowed and inventory on the market is rising, real estate investors are looking to a “buy and hold†strategy.
Many real estate buyers are adopting the landlord approach to investing. To buy and hold a property, through spikes and dips of home values, has attracted the attention of new investors and pompous speculators.
The Landlord Approach
Buying and holding investment properties is a long term investment goal. The returns and margins made on long term investments is far more risk adverse than speculation. However, the idea and implementation of making $50,000 to $150,000 in two months time would surely get anybody excited. But, the landlord approach in real estate is like a mutual fund - you don’t worry about the day to day earnings; you look at your earnings after 5 or 10 years. For instance, in today’s real estate market, home prices may be stagnant or even be declining. In time, your investments will likely increase at a steady and formidable rate; possibly doubling or tripling the purchase price of the home vs. the quick profits made by flipping the home.
Another benefit to purchasing a property in 2008 and renting it out is that rents are rising. Because real estate is not appreciating like it had before the 2008 year, people are not as inclined to purchase a property. Home buyers are more likely to rent and wait to ride the wave of decreasing home prices. They are looking for a bargain price of home values, but in the meantime must save money to purchase a property by renting. The supply of rentals is increasing due to the over valuation of homes available to purchase. Renting a home is easier than in the prior decade.
"The best way to become a millionaire is to borrow a million dollars and have your renters pay it off.â€
A Success Strategy
Start small. Becoming a landlord is not normally all fun and games. There are situations and problems that arise when dealing with tenants. Therefore, if even one can afford to buy an apartment complex, it is suggested that they start small and purchase a single family home. One must get their feet wet and test the water before jumping in. The analogy extends to real estate investing. New landlords often underestimate the challenges of owning rental property. As an investor, pace yourself with a single family home or duplex. Work your way up to apartment buildings and commercial properties. The single family homes and duplexes will help you create the wealth to invest in larger projects.
Happy investing
The Art Of Negotiating A Perfect Real Estate Deal
The Art Of Negotiating A Perfect Real Estate Deal
by Michael Taylor
In order to be able to negotiate a perfect real estate deal you must make sure that your negotiation proceeds in line with the under mentioned principles.
1. Always get the other side to commit first - When you are into serious negotiations you will be better placed if you steer the talks in a direction that makes the other party commit their position before you are required to make a commitment from your side. There are many valid reasons for this. You may find their first quote more advantageous than the offer you intend making from your side. You gain the advantage of being aware of their position before disclosing your position. It allows you to split the difference between your price and their price and close the deal on terms suited to your advantage rather than put yourself in a position that lets the other party gain control over the negotiations to let it end to their advantage by revealing your position first.
2. Always make sure that your first offer is less than what you are finally prepared to pay- When negotiations reach a stage where you are required to make an offer be careful to quote a price that is below the actual price that you are willing to pay. This will ensure that you have enough space for bargaining to close the deal.
3. Maintain a dumb facade- This is important as people feel comfortable when dealing with others less intelligent than themselves in matters concerning real estate. In short, the dumber you appear, the greater are your chances of clinching the deal. Therefore avoid projecting a personality that can be credited with a sharp intellect. In fact, appearing helpless may very advantageous for you in a real estate negotiation. 4. Downplay your authority level -When things appear to be heading for a deadlock on some particular point you can stall the negotiations to prevent them reaching a no return position by saying that you cannot take a decision all by yourself and would need to check on the issue with your wife/other family members or your partner. This may be more acceptable to the other party as it is easier to accept that you are helpless in doing something rather than take your unwillingness to do it.
5. Try to know the seller's deadlines and use them to your advantage during negotiations- The other party may be under pressure of certain deadlines, such as a time deadline because he wants to move his child to some school at a new location and wants everything finished before the commencement of the new school semester. As the seller's deadline approaches, he will want the deal closed. This is when you press to get advantage important for you. For example, price may be your highest priority in the deal. Now your quoted price will invariably be subject to inspections of the property, which usually takes a lot of time. Therefore, you should work on all aspects of the deal, but let the inspections linger. When the seller wants to close, you can tell him that you are ready to close the deal in the absence of the inspections but the price will have to be readjusted and quoted the price you want to pay. More often than not, the seller will agree under pressure of meeting his deadline.
by Michael Taylor
In order to be able to negotiate a perfect real estate deal you must make sure that your negotiation proceeds in line with the under mentioned principles.
1. Always get the other side to commit first - When you are into serious negotiations you will be better placed if you steer the talks in a direction that makes the other party commit their position before you are required to make a commitment from your side. There are many valid reasons for this. You may find their first quote more advantageous than the offer you intend making from your side. You gain the advantage of being aware of their position before disclosing your position. It allows you to split the difference between your price and their price and close the deal on terms suited to your advantage rather than put yourself in a position that lets the other party gain control over the negotiations to let it end to their advantage by revealing your position first.
2. Always make sure that your first offer is less than what you are finally prepared to pay- When negotiations reach a stage where you are required to make an offer be careful to quote a price that is below the actual price that you are willing to pay. This will ensure that you have enough space for bargaining to close the deal.
3. Maintain a dumb facade- This is important as people feel comfortable when dealing with others less intelligent than themselves in matters concerning real estate. In short, the dumber you appear, the greater are your chances of clinching the deal. Therefore avoid projecting a personality that can be credited with a sharp intellect. In fact, appearing helpless may very advantageous for you in a real estate negotiation. 4. Downplay your authority level -When things appear to be heading for a deadlock on some particular point you can stall the negotiations to prevent them reaching a no return position by saying that you cannot take a decision all by yourself and would need to check on the issue with your wife/other family members or your partner. This may be more acceptable to the other party as it is easier to accept that you are helpless in doing something rather than take your unwillingness to do it.
5. Try to know the seller's deadlines and use them to your advantage during negotiations- The other party may be under pressure of certain deadlines, such as a time deadline because he wants to move his child to some school at a new location and wants everything finished before the commencement of the new school semester. As the seller's deadline approaches, he will want the deal closed. This is when you press to get advantage important for you. For example, price may be your highest priority in the deal. Now your quoted price will invariably be subject to inspections of the property, which usually takes a lot of time. Therefore, you should work on all aspects of the deal, but let the inspections linger. When the seller wants to close, you can tell him that you are ready to close the deal in the absence of the inspections but the price will have to be readjusted and quoted the price you want to pay. More often than not, the seller will agree under pressure of meeting his deadline.
Real Estate In Mount Pleasant Sc Is A Great Choice
Real Estate In Mount Pleasant Sc Is A Great Choice
by Rex Freiberger
This is the precise moment in time to buy property. Real estate costs less today than it has in ages, due to the recent collapse in the building boom. Also, the demand for houses has fallen as far as the prices have, so that you can afford pretty much anything you see on the market in Mount Pleasant, South Carolina. Keep in mind that what is bad for homeowners is great for would-be property buyers.
While browsing the housing market in Mount Pleasant, South Carolina, also take the time to check out mortgage options. There are a variety of routes available to mortgage your new home. You can take out a traditional mortgage, or you can also take out a specialty mortgage such as the interest-only mortgage. The ideal option is different for everyone, so seek the advice of your realtor and financial advisor before choosing a mortgage.
When you are in the market to buy real estate the key is to plan ahead. You need to have a discussion with your realtor and make a list of the key ideas and needs you have in mind. Such things as neighborhood, schools, crime statistics, and number of bathrooms and bedrooms are important considerations.
After you have made a list of what is really important to you, you can start exploring the lovely homes on the market. You should really see a house in person if at all possible, but these days you can, if necessary, utilize helpful alternatives like walking through the property online and other such marvels of advanced technology.
Exploring the many real estate properties in Mount Pleasant SC can be achieved without ever leaving home. One can virtually "walk" through houses. You can visit the indoor and outdoor spaces at your own leisure. You can even pose questions to the agent and/or owner via email. There is a great deal of information on properties available with just a few mouse clicks.
If you want to purchase real estate in Mt. Pleasant SC it can be a very smooth process. With the technology available and an experienced real estate agent to guide you through it should be a breeze. You will be able to get what you are looking for and not be stressed out in the process.
by Rex Freiberger
This is the precise moment in time to buy property. Real estate costs less today than it has in ages, due to the recent collapse in the building boom. Also, the demand for houses has fallen as far as the prices have, so that you can afford pretty much anything you see on the market in Mount Pleasant, South Carolina. Keep in mind that what is bad for homeowners is great for would-be property buyers.
While browsing the housing market in Mount Pleasant, South Carolina, also take the time to check out mortgage options. There are a variety of routes available to mortgage your new home. You can take out a traditional mortgage, or you can also take out a specialty mortgage such as the interest-only mortgage. The ideal option is different for everyone, so seek the advice of your realtor and financial advisor before choosing a mortgage.
When you are in the market to buy real estate the key is to plan ahead. You need to have a discussion with your realtor and make a list of the key ideas and needs you have in mind. Such things as neighborhood, schools, crime statistics, and number of bathrooms and bedrooms are important considerations.
After you have made a list of what is really important to you, you can start exploring the lovely homes on the market. You should really see a house in person if at all possible, but these days you can, if necessary, utilize helpful alternatives like walking through the property online and other such marvels of advanced technology.
Exploring the many real estate properties in Mount Pleasant SC can be achieved without ever leaving home. One can virtually "walk" through houses. You can visit the indoor and outdoor spaces at your own leisure. You can even pose questions to the agent and/or owner via email. There is a great deal of information on properties available with just a few mouse clicks.
If you want to purchase real estate in Mt. Pleasant SC it can be a very smooth process. With the technology available and an experienced real estate agent to guide you through it should be a breeze. You will be able to get what you are looking for and not be stressed out in the process.
Real Estate In Mt Pleasant: What You Need To Know
Real Estate In Mt Pleasant: What You Need To Know
by Rex Freiberger
Sometimes potential buyers of real estate in Mount Pleasant avoid contacting a realtor due to the fact that they think it will be costly, and they truly believe that dealing with the seller's real estate Broker, or directly will get a better deal.
Buying real estate in MT Pleasant can be an expensive mistake if you are negotiating directly with the seller or seller's real estate Broker. Having your own realtor, Buyer Broker or Buyers Agent would benefit you. These agents will work for your benefit at no charge to you. Having the experience they have gained through hundreds of successful negotiations and their commitment to you would allow getting the best value available in the Mount Pleasant market today.
The realty business is unique, where an agent with one day's experience and no home sales gets paid the same as real estate agents with several years experience and hundreds of successful sales. An experienced Realtor can help you avoid costly mistakes, find the best home value, and make your home buying or relocation experience an enjoyable, stress-free one.
When viewing homes for sale, it is important for homebuyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent representing the seller's best interests during negotiations or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for, ask for clarification. Realtors must fully explain agency. When negotiations commence, you would want to know whether information you divulge will be used for the seller's benefit or yours.
The contract you sign to buy or sell a property is a complex and legally binding document. An improperly written contract can allow the purchaser or seller to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Realtor who knows the ins and outs and fully explain the contract you are about to sign or have your lawyer review it before acceptance.
Real estate agents in the Mount Pleasant area of South Carolina want to assist the home buyer with children in making the right decision about school districts. Real estate agents can find out test scores, teacher to student ratios, and other statistics to help parents make an informed decision about whether or not the home they are looking at is in a school district that will work for their family.
by Rex Freiberger
Sometimes potential buyers of real estate in Mount Pleasant avoid contacting a realtor due to the fact that they think it will be costly, and they truly believe that dealing with the seller's real estate Broker, or directly will get a better deal.
Buying real estate in MT Pleasant can be an expensive mistake if you are negotiating directly with the seller or seller's real estate Broker. Having your own realtor, Buyer Broker or Buyers Agent would benefit you. These agents will work for your benefit at no charge to you. Having the experience they have gained through hundreds of successful negotiations and their commitment to you would allow getting the best value available in the Mount Pleasant market today.
The realty business is unique, where an agent with one day's experience and no home sales gets paid the same as real estate agents with several years experience and hundreds of successful sales. An experienced Realtor can help you avoid costly mistakes, find the best home value, and make your home buying or relocation experience an enjoyable, stress-free one.
When viewing homes for sale, it is important for homebuyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent representing the seller's best interests during negotiations or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for, ask for clarification. Realtors must fully explain agency. When negotiations commence, you would want to know whether information you divulge will be used for the seller's benefit or yours.
The contract you sign to buy or sell a property is a complex and legally binding document. An improperly written contract can allow the purchaser or seller to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Realtor who knows the ins and outs and fully explain the contract you are about to sign or have your lawyer review it before acceptance.
Real estate agents in the Mount Pleasant area of South Carolina want to assist the home buyer with children in making the right decision about school districts. Real estate agents can find out test scores, teacher to student ratios, and other statistics to help parents make an informed decision about whether or not the home they are looking at is in a school district that will work for their family.
Mt Pleasant Real Estate: The Ideal Place To Retire
Mt Pleasant Real Estate: The Ideal Place To Retire
by Rex Freiberger
People look for gentler climates and a relaxing atmosphere when they consider retirement. There are many retirement communities near natural or man-made likes and other areas in the southern states. Two of the most popular states people consider suitable upon retirement are Arizona and Florida.
Both Arizona and Florida have oppressively hot weather. While Arizona is extremely dry, Florida is extremely damp. This has convinced many retired people to move to locales with milder weather. Tennessee, the Carolinas, and Virginia have been more in demand lately as relocation destinations. Mount Pleasant real estate is located in the most appealing area, one which is a neighbor of Charleston, South Carolina.
Upon retirement, most folks will either acquire a second house or else put their existing home on the market so as to be able to move into a retirement home in the locale of their choice. As a result, mt pleasant south carolina real estate is becoming an increasingly popular choice, with ocean- and water-front houses up for grabs in this area that possess all the conveniences of modern civilization without the endless bustle of urban living.
Close to the rich tapestry of colonial southern history and the old-world charms of Charleston, mt pleasant sc real estate is in a prime location. Visitors and home-owners can tour fascinating historical landmarks only minutes away from the homes of those who own mt pleasant real estate. There are tours for those who want only a few minutes' excitement, or several hours of fascinating historical sightseeing, depending upon personal preference.
Finding an ideal property in Mt Pleasant real estate should be a relatively easy task, considering the numerous real estate agents there to help you in your search. A few common sense rules always apply, however, like taking your time, shopping around, and refusing to be pressured into a quick decision by a pushy sales representative.
You want to be choosy and locate the house that's just right for you, and think about your budget and the mortgage possibilities before you decide to purchase. On the other hand, if you are truly serious about buying a house here, you should realize that some mt pleasant real estate is snapped up very fast. You don't want to lose the house you really love because another person looked at it, loved it, and made a quicker commitment.
by Rex Freiberger
People look for gentler climates and a relaxing atmosphere when they consider retirement. There are many retirement communities near natural or man-made likes and other areas in the southern states. Two of the most popular states people consider suitable upon retirement are Arizona and Florida.
Both Arizona and Florida have oppressively hot weather. While Arizona is extremely dry, Florida is extremely damp. This has convinced many retired people to move to locales with milder weather. Tennessee, the Carolinas, and Virginia have been more in demand lately as relocation destinations. Mount Pleasant real estate is located in the most appealing area, one which is a neighbor of Charleston, South Carolina.
Upon retirement, most folks will either acquire a second house or else put their existing home on the market so as to be able to move into a retirement home in the locale of their choice. As a result, mt pleasant south carolina real estate is becoming an increasingly popular choice, with ocean- and water-front houses up for grabs in this area that possess all the conveniences of modern civilization without the endless bustle of urban living.
Close to the rich tapestry of colonial southern history and the old-world charms of Charleston, mt pleasant sc real estate is in a prime location. Visitors and home-owners can tour fascinating historical landmarks only minutes away from the homes of those who own mt pleasant real estate. There are tours for those who want only a few minutes' excitement, or several hours of fascinating historical sightseeing, depending upon personal preference.
Finding an ideal property in Mt Pleasant real estate should be a relatively easy task, considering the numerous real estate agents there to help you in your search. A few common sense rules always apply, however, like taking your time, shopping around, and refusing to be pressured into a quick decision by a pushy sales representative.
You want to be choosy and locate the house that's just right for you, and think about your budget and the mortgage possibilities before you decide to purchase. On the other hand, if you are truly serious about buying a house here, you should realize that some mt pleasant real estate is snapped up very fast. You don't want to lose the house you really love because another person looked at it, loved it, and made a quicker commitment.
วันอังคารที่ 11 มีนาคม พ.ศ. 2551
How The Real Estate business fluctuations Is Affecting The Miami-Dade Condo Market
How The Real Estate business fluctuations Is Affecting The Miami-Dade Condo Market
by Vanessa Arellano Doctor
Imagine this: You're osculation in bed dormant, in your new rented Algonquin home, exclusive to be aroused by someone knocking at your threshold front hour in the period. You dead find out that on the else cut of that entranceway is a sheriff, who is there to cater your landlord one of numerous Florida foreclosure notices.
As sad as it may seem, this unfortunately is all too standard a environs to many tenants of Southwest Florida condominiums. Patch umteen say that the construction deterioration is not accomplishment to be that protracted and bloodthirsty, right how is it felt in umteen domicile households in the Miami-Dade country?
Construction Market Prospects For 2008
As we go into the precocious months of 2008, the construction mart in this spirited and different area of the propose, is seeing a outsize limit of condominium developments with hundreds of trillions of dollars in defaulted mortgages, and are struggling to rest their heads waterborne.
According to structure marketplace analysts, in the 20 dwelling developments in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, the signaling loans in option accounted to statesman than $271.8 cardinal. Along Algonquian's Brickell Street, in the financial district, one gift reason out that ternion of the top five buildings that are deed finished foreclosure, as the approximate has been jokingly referred to as the 'Florida foreclosure dominion'.
The pct of units in foreclosure widely varies, among the 20 buildings ranked at the top. For both magnanimous home developments, a mammoth signal of units in foreclosure still solace represents a lesser parceling of the boilersuit structure in any of Miami's large home buildings.
From an assets standpoint, there were electropositive expectations of how impressive Brickell was leaving to be, still the widespread mortgage fraud involving pretentious appraisals and speculators had led to the loathsome appear in defaults and goods foreclosures in the verbalize as a undivided. One localized Metropolis commodity broker regularize joked that "These buildings are notorious because the fraudulence was so prevalent".
Umteen Are Anticipant That Conditions Leave Rapidly Alter
For buyers who are that are hunting for a agreement in Miami-Dade County instrument be bright to eff at littlest that these opportunities exclusive get alter as the artefact of any 10,000 units is polished, contributive to the glut.
Nevertheless, in the meantime, the residents of condos in the City metropolitan region that jazz shrill foreclosure rates are experience with the worry of vacant units, and many straight present primary assessments and increases in the in upkeep fees from vocation associations that bonk portion budget shortfalls. Both domicile owner associations are works struggling to touch expenses because a voluminous segment of their residents are behindhand on fees and different payments.
As a prove, homeowners and different members could see unkempt gardens and curtilage, and new disruptions in radical services, specified as a cut-off in video and internet assistance. Several of these building's tenants withal say they aren't worried, and they are in this for the daylong haul. A lot of abode owners and renters relieve bonk top hopes that they leave expand in the end, and eventually acquire from their investments.
Vanessa Arellano Doctor
by Vanessa Arellano Doctor
Imagine this: You're osculation in bed dormant, in your new rented Algonquin home, exclusive to be aroused by someone knocking at your threshold front hour in the period. You dead find out that on the else cut of that entranceway is a sheriff, who is there to cater your landlord one of numerous Florida foreclosure notices.
As sad as it may seem, this unfortunately is all too standard a environs to many tenants of Southwest Florida condominiums. Patch umteen say that the construction deterioration is not accomplishment to be that protracted and bloodthirsty, right how is it felt in umteen domicile households in the Miami-Dade country?
Construction Market Prospects For 2008
As we go into the precocious months of 2008, the construction mart in this spirited and different area of the propose, is seeing a outsize limit of condominium developments with hundreds of trillions of dollars in defaulted mortgages, and are struggling to rest their heads waterborne.
According to structure marketplace analysts, in the 20 dwelling developments in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, the signaling loans in option accounted to statesman than $271.8 cardinal. Along Algonquian's Brickell Street, in the financial district, one gift reason out that ternion of the top five buildings that are deed finished foreclosure, as the approximate has been jokingly referred to as the 'Florida foreclosure dominion'.
The pct of units in foreclosure widely varies, among the 20 buildings ranked at the top. For both magnanimous home developments, a mammoth signal of units in foreclosure still solace represents a lesser parceling of the boilersuit structure in any of Miami's large home buildings.
From an assets standpoint, there were electropositive expectations of how impressive Brickell was leaving to be, still the widespread mortgage fraud involving pretentious appraisals and speculators had led to the loathsome appear in defaults and goods foreclosures in the verbalize as a undivided. One localized Metropolis commodity broker regularize joked that "These buildings are notorious because the fraudulence was so prevalent".
Umteen Are Anticipant That Conditions Leave Rapidly Alter
For buyers who are that are hunting for a agreement in Miami-Dade County instrument be bright to eff at littlest that these opportunities exclusive get alter as the artefact of any 10,000 units is polished, contributive to the glut.
Nevertheless, in the meantime, the residents of condos in the City metropolitan region that jazz shrill foreclosure rates are experience with the worry of vacant units, and many straight present primary assessments and increases in the in upkeep fees from vocation associations that bonk portion budget shortfalls. Both domicile owner associations are works struggling to touch expenses because a voluminous segment of their residents are behindhand on fees and different payments.
As a prove, homeowners and different members could see unkempt gardens and curtilage, and new disruptions in radical services, specified as a cut-off in video and internet assistance. Several of these building's tenants withal say they aren't worried, and they are in this for the daylong haul. A lot of abode owners and renters relieve bonk top hopes that they leave expand in the end, and eventually acquire from their investments.
Vanessa Arellano Doctor
Siesta Key Real Estate- A Great Place to Buy Properties
Siesta Key Real Estate- A Great Place to Buy Properties
by Eliza Maledevic Ayson
Today's Siesta Key give charm you the second you maneuver into its world-famous mulct color beaches. Siesta Key's displays its unrivaled exemplar to thousands of residents and tourists throughout the year, from sunrise to sunset. You'll gestate Siesta Key to bang precise restaurants and plenty much to see.
In Siesta Key's lateral streets and you'll perceive everything from disconnection cheat condominiums, apartments and villas to wonderful seaside estates. There are some neighborhoods in Siesta Key like the Bay Island. It is luxurious island extant redefined. Upright minutes from the magical surround of Siesta Community and world-famous Siesta Key Beach, with the urbane pleasures of nearby Sarasota at their threshold, residents revel a account of entertainment and insouciant complexity. National site in Bay Island are astronomic with breathtaking scenery, unitedly with bay and Gulf Views. Bay Island has a tremendous realty manors shapely in traditional beach house styles and Complex.
Sara Sand is the westbound end of Siesta Key, you can bask a Gulf-side activity and sits near straight in the hunch of the island's Hamlet, an stand of restaurant choices from beach bites to powdery dining, boutique shopping at its equatorial finest and plate to art galleries. Unseeable Hold is located on the eastbound sustain of Siesta Key, straight on Roberts Bay. Concealed Asylum is a tranquil neighbourhood in a highly sought-after emplacement. Siesta Cove offers the loosening within an leisurely calling and the farthest in opulence. Component Laconic is where residents revel uniquely secluded environment just proceedings
Siesta Isles offers a mellow island lifestyle and a well-developed import of vocation. Just a unretentive posture absent is Siesta Community with smoldering music, nightclubs, alright restaurants, and island boutiques. Reels' action is label nautical way to Sarasota Bay; Riesel's Action is a continual pick among yachters and fishermen. It is gated enclave on the eastbound choose of Siesta Key. The neighbourhood Siesta Mansion of Siesta Key is settled retributory two blocks from Siesta Community and humans famous Disconnect beaches, Siesta Manor provides an unparalleled upscale style. On the northwards end of Siesta Key the Revivalist Direction is settled, is a neighborhood titled Town Key or Younger Town Island or Lamellibranch Island, in the ripe 1800's. Earlyish Siesta Key is environment mainly by disorderly boars and wildcats, but unfriendly and the environment is fair. Or those who dared to broken its provocative landscape, subsiding here meant a being of poor survival.
You can also like in the Siesta Key historical realty. This gated district with model location. You can savour the equatorial part within this gated and closet community. These life, many and author grouping are purchase homes and properties in Siesta Key realistic class, since they can explore a lot in Siesta Key.
by Eliza Maledevic Ayson
Today's Siesta Key give charm you the second you maneuver into its world-famous mulct color beaches. Siesta Key's displays its unrivaled exemplar to thousands of residents and tourists throughout the year, from sunrise to sunset. You'll gestate Siesta Key to bang precise restaurants and plenty much to see.
In Siesta Key's lateral streets and you'll perceive everything from disconnection cheat condominiums, apartments and villas to wonderful seaside estates. There are some neighborhoods in Siesta Key like the Bay Island. It is luxurious island extant redefined. Upright minutes from the magical surround of Siesta Community and world-famous Siesta Key Beach, with the urbane pleasures of nearby Sarasota at their threshold, residents revel a account of entertainment and insouciant complexity. National site in Bay Island are astronomic with breathtaking scenery, unitedly with bay and Gulf Views. Bay Island has a tremendous realty manors shapely in traditional beach house styles and Complex.
Sara Sand is the westbound end of Siesta Key, you can bask a Gulf-side activity and sits near straight in the hunch of the island's Hamlet, an stand of restaurant choices from beach bites to powdery dining, boutique shopping at its equatorial finest and plate to art galleries. Unseeable Hold is located on the eastbound sustain of Siesta Key, straight on Roberts Bay. Concealed Asylum is a tranquil neighbourhood in a highly sought-after emplacement. Siesta Cove offers the loosening within an leisurely calling and the farthest in opulence. Component Laconic is where residents revel uniquely secluded environment just proceedings
Siesta Isles offers a mellow island lifestyle and a well-developed import of vocation. Just a unretentive posture absent is Siesta Community with smoldering music, nightclubs, alright restaurants, and island boutiques. Reels' action is label nautical way to Sarasota Bay; Riesel's Action is a continual pick among yachters and fishermen. It is gated enclave on the eastbound choose of Siesta Key. The neighbourhood Siesta Mansion of Siesta Key is settled retributory two blocks from Siesta Community and humans famous Disconnect beaches, Siesta Manor provides an unparalleled upscale style. On the northwards end of Siesta Key the Revivalist Direction is settled, is a neighborhood titled Town Key or Younger Town Island or Lamellibranch Island, in the ripe 1800's. Earlyish Siesta Key is environment mainly by disorderly boars and wildcats, but unfriendly and the environment is fair. Or those who dared to broken its provocative landscape, subsiding here meant a being of poor survival.
You can also like in the Siesta Key historical realty. This gated district with model location. You can savour the equatorial part within this gated and closet community. These life, many and author grouping are purchase homes and properties in Siesta Key realistic class, since they can explore a lot in Siesta Key.
วันจันทร์ที่ 10 มีนาคม พ.ศ. 2551
Exploring Careers in Real Estate and Mortgage
Exploring Careers in Real Estate and Mortgage
by Fei Lim
If you are looking for an exciting career that is constantly growing, you may want to consider a career in the field of real estate and mortgage. There are many great careers to choose from in this area, and they range from mortgage banking, dealing with appraisals and research, helping people sell homes and buy homes, helping people buy and sell commercial real estate, property management, and even land development. Of course before you decide that one of these careers are for you, you'll want to learn a bit more about this career, it's advantages, the education you'll need, the various positions available, the wages, and even several companies to check into.
Advantages of a Career in this Field
There are a variety of different advantages to getting involved in a career in the field of real estate. It is a field that provides freedom as well as flexibility. Also, your income will directly reflect how hard you work. People who are successful in this field are self motivated, people oriented, goal oriented, and persevering. Some of the rewards of a career in this field include freedom of time, helping others, potential for huge earnings, satisfaction, and an intellectual challenge. You also can enjoy a certain independence and you can often choose your own work environment as well.
Education Needed
Of course you are going to need some level of education if you are going to be involved in a career in real estate; however, the amount of education you'll need will greatly depend on the specific job you want to do within the field. Today there are many universities and collages that offer courses that are related to real estate and you can even specialize in programs that will allow you to get a BA in real estate as well. Of course not only are their education requirements, but there are professional requirements to be aware of. You'll need to be licensed to work in this field, and from state to state, you'll find that the requirements vary, although in every state you'll have to a written exam. There are often classes that can be taken before the exam as well. So, you may want to check into the specific licensing laws in your area so you are familiar with the local requirements.
Job Positions
There are a variety of different job positions to consider within the real estate field. First of all, you can choose to work in residential brokerage, which deals with helping others sell and buy homes. This requires a lot of preparation, knowledge of local laws, and of course good people skills. Of course you may prefer to get involved in a career in commercial brokerage instead, dealing with properties that are income producing. Some other job positions that you may want to consider include office brokerage, land brokerage, real estate appraising, property development, land development, real estate research, real estate counseling, and urban planning.
Wages
Of course for most people, the money is important as well. Most people want to know that they can make a good living in what they do. So, let's take a look at the wages that you can earn when you get involved in a career in real estate. For most real estate agents, $40,000 a year is about average, although many make a lot more than that each year, depending on their motivation. Real estate brokers usually earn closer to $60,000 a year on average. Of course, usually in this field, as you gain experience, you'll find that your wages increase.
Several Good Companies
No doubt you are interested in knowing about some companies, both in the United States and in Canada that hire people that are involved in the real estate field. The following are several companies that provide great benefits and excellent salaries as well. In the United States, a few great companies to checkout include ROI Commercial Real Estate in Las Vegas, NV, RE/MAX Direct, which has offices all over the country, and One Percent Realty, in Dallas TX. Of course there are some excellent companies to consider in Canada as well, including First Canadian Title, which is all across Canada, SNC-Lavalin in Ottawa, and The People Bank Placement Group in Winnipeg.
by Fei Lim
If you are looking for an exciting career that is constantly growing, you may want to consider a career in the field of real estate and mortgage. There are many great careers to choose from in this area, and they range from mortgage banking, dealing with appraisals and research, helping people sell homes and buy homes, helping people buy and sell commercial real estate, property management, and even land development. Of course before you decide that one of these careers are for you, you'll want to learn a bit more about this career, it's advantages, the education you'll need, the various positions available, the wages, and even several companies to check into.
Advantages of a Career in this Field
There are a variety of different advantages to getting involved in a career in the field of real estate. It is a field that provides freedom as well as flexibility. Also, your income will directly reflect how hard you work. People who are successful in this field are self motivated, people oriented, goal oriented, and persevering. Some of the rewards of a career in this field include freedom of time, helping others, potential for huge earnings, satisfaction, and an intellectual challenge. You also can enjoy a certain independence and you can often choose your own work environment as well.
Education Needed
Of course you are going to need some level of education if you are going to be involved in a career in real estate; however, the amount of education you'll need will greatly depend on the specific job you want to do within the field. Today there are many universities and collages that offer courses that are related to real estate and you can even specialize in programs that will allow you to get a BA in real estate as well. Of course not only are their education requirements, but there are professional requirements to be aware of. You'll need to be licensed to work in this field, and from state to state, you'll find that the requirements vary, although in every state you'll have to a written exam. There are often classes that can be taken before the exam as well. So, you may want to check into the specific licensing laws in your area so you are familiar with the local requirements.
Job Positions
There are a variety of different job positions to consider within the real estate field. First of all, you can choose to work in residential brokerage, which deals with helping others sell and buy homes. This requires a lot of preparation, knowledge of local laws, and of course good people skills. Of course you may prefer to get involved in a career in commercial brokerage instead, dealing with properties that are income producing. Some other job positions that you may want to consider include office brokerage, land brokerage, real estate appraising, property development, land development, real estate research, real estate counseling, and urban planning.
Wages
Of course for most people, the money is important as well. Most people want to know that they can make a good living in what they do. So, let's take a look at the wages that you can earn when you get involved in a career in real estate. For most real estate agents, $40,000 a year is about average, although many make a lot more than that each year, depending on their motivation. Real estate brokers usually earn closer to $60,000 a year on average. Of course, usually in this field, as you gain experience, you'll find that your wages increase.
Several Good Companies
No doubt you are interested in knowing about some companies, both in the United States and in Canada that hire people that are involved in the real estate field. The following are several companies that provide great benefits and excellent salaries as well. In the United States, a few great companies to checkout include ROI Commercial Real Estate in Las Vegas, NV, RE/MAX Direct, which has offices all over the country, and One Percent Realty, in Dallas TX. Of course there are some excellent companies to consider in Canada as well, including First Canadian Title, which is all across Canada, SNC-Lavalin in Ottawa, and The People Bank Placement Group in Winnipeg.
Applying Fast Break Deals In Real Estate
Applying Fast Break Deals In Real Estate
by Jon Caldwell
Internet is not synonymous with technology but rather only a part of it. There are computers, management software, smartphones, global positioning systems, online mapping, intranets, printers and more. All of these gadgets can work for you in the world of real estate. With the help of technology, you can create a virtual assistant that can function more efficiently and tailored to your needs instead of hiring an employee.
If you feel at a loss on how to use technology, then hire someone who knows how to maximize it for your business. Being able to ride on the technological advances will ensure you entry to a global market that is literally at your finger tips. The sooner that you get it working for you, the better and more efficient your real estate business will be.
A short sale means that a seller�s lender is accepting discounted pay to enable the release an existing mortgage. Even if the property has short sale terms it is not an assurance that the lender is going to accept the offer even if the seller is accepting it. Buyers usually go after short sales to get a better deal but it is not as simple as it seems.
Before a property is considered for short sale, the seller must be in default or stopped mortgage payments for a period of time and the seller might have owed more than the actual amount of the property which brings the property along the market value price but not below it.
typical real estate agent would receive commission rates anywhere from 5 to 7 percent based on the final sales price of the property. An average sale price figure for a single family home is about $177,000, an average commission of $10,600. These people are not experts in the field but rather are middlemen who link you to the right people for marketing exposure.
If you sell your property yourself and employ smart advertising, a potential profit of $10,000 could be yours from the sale and not go to the agent. There are a lot of things that $10,000 can do for you in terms of your needs and desires. So who would you rather get that amount, a real estate agent or you?
During the time when home prices were soaring and interest rates were low, it was easy to earn big money out of the equity you get just in a few months. Things are not so much the same now, if you are going to borrow against the value of your house, it has to be for something with a future long term value like your child�s education and not simple whims like a high definition television.
Pouring a reasonable amount of your savings into improving and renovating your home to improve its value is sensible. There is however nothing wrong with buying high priced items as long as you can afford them and for the right reason. Making sensible improvements to your home and being able to sit back and relax is the most legitimate and important reason to become a home owner.
by Jon Caldwell
Internet is not synonymous with technology but rather only a part of it. There are computers, management software, smartphones, global positioning systems, online mapping, intranets, printers and more. All of these gadgets can work for you in the world of real estate. With the help of technology, you can create a virtual assistant that can function more efficiently and tailored to your needs instead of hiring an employee.
If you feel at a loss on how to use technology, then hire someone who knows how to maximize it for your business. Being able to ride on the technological advances will ensure you entry to a global market that is literally at your finger tips. The sooner that you get it working for you, the better and more efficient your real estate business will be.
A short sale means that a seller�s lender is accepting discounted pay to enable the release an existing mortgage. Even if the property has short sale terms it is not an assurance that the lender is going to accept the offer even if the seller is accepting it. Buyers usually go after short sales to get a better deal but it is not as simple as it seems.
Before a property is considered for short sale, the seller must be in default or stopped mortgage payments for a period of time and the seller might have owed more than the actual amount of the property which brings the property along the market value price but not below it.
typical real estate agent would receive commission rates anywhere from 5 to 7 percent based on the final sales price of the property. An average sale price figure for a single family home is about $177,000, an average commission of $10,600. These people are not experts in the field but rather are middlemen who link you to the right people for marketing exposure.
If you sell your property yourself and employ smart advertising, a potential profit of $10,000 could be yours from the sale and not go to the agent. There are a lot of things that $10,000 can do for you in terms of your needs and desires. So who would you rather get that amount, a real estate agent or you?
During the time when home prices were soaring and interest rates were low, it was easy to earn big money out of the equity you get just in a few months. Things are not so much the same now, if you are going to borrow against the value of your house, it has to be for something with a future long term value like your child�s education and not simple whims like a high definition television.
Pouring a reasonable amount of your savings into improving and renovating your home to improve its value is sensible. There is however nothing wrong with buying high priced items as long as you can afford them and for the right reason. Making sensible improvements to your home and being able to sit back and relax is the most legitimate and important reason to become a home owner.
วันเสาร์ที่ 8 มีนาคม พ.ศ. 2551
Toronto Real Estate Market Still Healthy
Toronto Real Estate Market Still Healthy
by Stefan Hyross
Late in 2007 the city of Toronto announced that it would introduce its own land transfer tax in 2008 for buyers who purchased property within city limits. This is in addition to the provincial land transfer tax buyers currently have to pay effectively doubling the taxes levied onto home buyers. This decision sent waves of nervousness through the real estate community who wondered how this would affect the Toronto real estate market. Would this cause buyers to move to neighbouring cities in order to avoid the new tax? Would people looking to sell their homes and living at the edge of city limits decide it is time to move to the suburbs?
The answer so far has been no. Helped by a still strong Canadian economy the Toronto real estate market is very healthy and despite a modest decrease of 2% in overall sales reported to the Toronto Real Estate Board in January prices still increased by about 6% over the same period in 2007. The president of the Toronto Real Estate Board, "There is clearly still a place for the first-time buyer in today's resale market." The ability of first-time home buyers to enter the market is an important measure of the future health of the real estate market. The upward trend in Toronto real estate prices is expected to continue in 2008 as inventory levels have fallen causing demand to out pace supply.
A second factor may have also helped to negate the effects of the new land transfer tax, this coming from the mortgage lender themselves. Shortly before the new tax was about to take effect many banks started to announce that they would cover the costs of the all or most of the tax. The city of Toronto also announced that a rebate program would be put in place for first-time home buyers. Both very important steps in ensure that the tax has as little affect as possible on the Toronto real estate market.
For now at least, it seems that neither the Canadian dollar hitting parity nor the new land transfer tax are going to slow the Toronto real estate market. In fact most experts, included RE/MAX are predicting that the market sales levels will match those of 2007 and that consistent demand for housing will keep upward pressure on housing prices. Baring some unforeseen disaster Toronto looks to still be a good investment for your real estate dollar.
by Stefan Hyross
Late in 2007 the city of Toronto announced that it would introduce its own land transfer tax in 2008 for buyers who purchased property within city limits. This is in addition to the provincial land transfer tax buyers currently have to pay effectively doubling the taxes levied onto home buyers. This decision sent waves of nervousness through the real estate community who wondered how this would affect the Toronto real estate market. Would this cause buyers to move to neighbouring cities in order to avoid the new tax? Would people looking to sell their homes and living at the edge of city limits decide it is time to move to the suburbs?
The answer so far has been no. Helped by a still strong Canadian economy the Toronto real estate market is very healthy and despite a modest decrease of 2% in overall sales reported to the Toronto Real Estate Board in January prices still increased by about 6% over the same period in 2007. The president of the Toronto Real Estate Board, "There is clearly still a place for the first-time buyer in today's resale market." The ability of first-time home buyers to enter the market is an important measure of the future health of the real estate market. The upward trend in Toronto real estate prices is expected to continue in 2008 as inventory levels have fallen causing demand to out pace supply.
A second factor may have also helped to negate the effects of the new land transfer tax, this coming from the mortgage lender themselves. Shortly before the new tax was about to take effect many banks started to announce that they would cover the costs of the all or most of the tax. The city of Toronto also announced that a rebate program would be put in place for first-time home buyers. Both very important steps in ensure that the tax has as little affect as possible on the Toronto real estate market.
For now at least, it seems that neither the Canadian dollar hitting parity nor the new land transfer tax are going to slow the Toronto real estate market. In fact most experts, included RE/MAX are predicting that the market sales levels will match those of 2007 and that consistent demand for housing will keep upward pressure on housing prices. Baring some unforeseen disaster Toronto looks to still be a good investment for your real estate dollar.
Best Way to Fail as a Real Estate Investor
Best Way to Fail as a Real Estate Investor
by Marco Santarelli
It's not hard to fail as a real estate investor. Many people get excited about making their first million and forget there are guidelines you must follow to become successful. Here is a list of what to do in order to fail in as a real estate investor:
Not Knowing Your Market: If you don't know what's selling in your local market, you risk purchasing property that is overpriced or destined to sit on the market for a long time to come. This is especially true if your exit strategy is to only hold it short-term. A successful investor gains a detailed understanding of the market they are considering, from comparable prices and the days-on-market, to the commercial and population growth in the area.
Pay Full Price for the Property: When you purchase any property at full price (or over market value), you have little to no equity in the property. And although you stand to gain equity over time through appreciation, you might find yourself in a negative equity position if there is a small or short term market correction.
The other problem with paying full price is that your cash-flow will be lower if there is any at all. Ideally, you will want to buy property at least 10% below market value, but that is not always possible, and there are many great deals to be found close to market value. The successful investor will look for properties in growing markets that provide positive cash-flow with a 10% to 20% down-payment.
Don't Write a Business Plan: If you're a real estate investor, then you're in business for yourself. You must write yourself a business plan. Failing to make one is like planning to fail. Every successful business has a written plan. The smart investor will lay out the strategy to guide them through and will know what do to when a problem occurs because they planned for it. A good business plan will include both strategic (goals) and tactical (tasks) plans.
Bigger Property Means More Money: Don't assume that buying a more expensive property will net you a larger profit when you sell. Larger properties have larger carrying costs. So if your strategy is to buy, fix and sell, then you may find your profits eroding from the monthly carrying costs. Generally speaking, the median priced, bread-and-butter properties are the ones that sell the quickest because they have the largest buying audience. The best way to start making money in real estate is to start off small and work your way up to larger properties. Remember that big properties can take much longer to sell, while smaller ones can be sold in a shorter time with a good profit margin.
Over-Improve for Profit: Over-improving a property can be a waste of time and money. Spending money for unnecessary improvements and expecting to get more money at the time of sale is a recipe for failure. The only improvements that should be made are the ones which pay for themselves. Generally speaking this would include kitchens, bathrooms, and inexpensive cosmetic improvements.
If you are buying a fixer-upper, then carefully calculate your repair costs and ensure that you can sell it for enough to net you a profit after all expenses are paid. The successful investor knows the less money you put into a property the more money you net on the sale.
There are so many ways to succeed when it comes to real estate. It's not hard to make the money if you know the mistakes to avoid. Let this be a guideline for your success. Some of the best ways to fail are listed here.
by Marco Santarelli
It's not hard to fail as a real estate investor. Many people get excited about making their first million and forget there are guidelines you must follow to become successful. Here is a list of what to do in order to fail in as a real estate investor:
Not Knowing Your Market: If you don't know what's selling in your local market, you risk purchasing property that is overpriced or destined to sit on the market for a long time to come. This is especially true if your exit strategy is to only hold it short-term. A successful investor gains a detailed understanding of the market they are considering, from comparable prices and the days-on-market, to the commercial and population growth in the area.
Pay Full Price for the Property: When you purchase any property at full price (or over market value), you have little to no equity in the property. And although you stand to gain equity over time through appreciation, you might find yourself in a negative equity position if there is a small or short term market correction.
The other problem with paying full price is that your cash-flow will be lower if there is any at all. Ideally, you will want to buy property at least 10% below market value, but that is not always possible, and there are many great deals to be found close to market value. The successful investor will look for properties in growing markets that provide positive cash-flow with a 10% to 20% down-payment.
Don't Write a Business Plan: If you're a real estate investor, then you're in business for yourself. You must write yourself a business plan. Failing to make one is like planning to fail. Every successful business has a written plan. The smart investor will lay out the strategy to guide them through and will know what do to when a problem occurs because they planned for it. A good business plan will include both strategic (goals) and tactical (tasks) plans.
Bigger Property Means More Money: Don't assume that buying a more expensive property will net you a larger profit when you sell. Larger properties have larger carrying costs. So if your strategy is to buy, fix and sell, then you may find your profits eroding from the monthly carrying costs. Generally speaking, the median priced, bread-and-butter properties are the ones that sell the quickest because they have the largest buying audience. The best way to start making money in real estate is to start off small and work your way up to larger properties. Remember that big properties can take much longer to sell, while smaller ones can be sold in a shorter time with a good profit margin.
Over-Improve for Profit: Over-improving a property can be a waste of time and money. Spending money for unnecessary improvements and expecting to get more money at the time of sale is a recipe for failure. The only improvements that should be made are the ones which pay for themselves. Generally speaking this would include kitchens, bathrooms, and inexpensive cosmetic improvements.
If you are buying a fixer-upper, then carefully calculate your repair costs and ensure that you can sell it for enough to net you a profit after all expenses are paid. The successful investor knows the less money you put into a property the more money you net on the sale.
There are so many ways to succeed when it comes to real estate. It's not hard to make the money if you know the mistakes to avoid. Let this be a guideline for your success. Some of the best ways to fail are listed here.
7 Step Guide for Real Estate Losers
7 Step Guide for Real Estate Losers
by Bruce Swedal
You have undoubtedly heard the saying that it is always darkest before the dawn. Well this real estate market is looking pitch black and the numbers are ugly. Smart investors are beginning to scoop up properties because they know the time to buy is when everyone is running away.
But why do what the smart investors are doing when you can be a real estate loser? Here are your 7 steps to becoming one.
1. Never buy a home when the prices are lowest. 2. Never finance your home purchase when interest rates are near historic lows. 3. Never look for a home when you have plenty to choose from. 4. Never buy a home when foreclosures are rising and banks are offering deep discounts. 5. Keep thinking that you can always buy your dream home next year. 6. Always wait for the market to recover and prices go up. 7. And most of all never, never actually do what you can continue to only dream about.
Now that you know the rules you can be the next real estate loser.
So let’s just take a minute to learn the state of the market.
The housing prices are down in many parts of the country, but are things really as bad as the news agencies would have us believe? Remember they are in the news business to sensationalize stories into entertainment that sells. Sorry to break it to you but news really is in the business of entertainment.
News agencies would have us believe that home sale are at the lowest levels on record when right now the current rate of resales is at about 4.89 million according to the National Association of Realtors. Sure that is down from the 6 million or so per year during the boom years of real estate, but come on 5 million is a heck of a lot of homes changing hands.
The real low point in existing home sales came in 1970 and the sales rate in January 2008 was three times greater than 1970. You really should not believe everything that you hear.
The interest rates have trended up a half point recently, but look where they are. That 6.27 rate on a 30 year fixed is lower than a year ago and from a historical perspective near all time lows. Financing a home purchase is very affordable from an interest rate standpoint.
Many economists are even forecasting lower rates in the coming months and the Fed Chairman Ben Bernanke promises to continue cutting short term interest rates. What this all means is there is strong potential for a bottoming of the market and a turnaround in real estate.
The remaining piece to the puzzle is for home buyers, even more real estate investors and consumers to realize this. Once they start taking a look at the deep discounts being offered with the pricing in local markets the market will turn. The time has come to get off the sidelines or miss opportunity of a lifetime in real estate.
Low real estate prices and low interest rates just do not happen in real estate at the same time. When they do you need to take advantage it.
by Bruce Swedal
You have undoubtedly heard the saying that it is always darkest before the dawn. Well this real estate market is looking pitch black and the numbers are ugly. Smart investors are beginning to scoop up properties because they know the time to buy is when everyone is running away.
But why do what the smart investors are doing when you can be a real estate loser? Here are your 7 steps to becoming one.
1. Never buy a home when the prices are lowest. 2. Never finance your home purchase when interest rates are near historic lows. 3. Never look for a home when you have plenty to choose from. 4. Never buy a home when foreclosures are rising and banks are offering deep discounts. 5. Keep thinking that you can always buy your dream home next year. 6. Always wait for the market to recover and prices go up. 7. And most of all never, never actually do what you can continue to only dream about.
Now that you know the rules you can be the next real estate loser.
So let’s just take a minute to learn the state of the market.
The housing prices are down in many parts of the country, but are things really as bad as the news agencies would have us believe? Remember they are in the news business to sensationalize stories into entertainment that sells. Sorry to break it to you but news really is in the business of entertainment.
News agencies would have us believe that home sale are at the lowest levels on record when right now the current rate of resales is at about 4.89 million according to the National Association of Realtors. Sure that is down from the 6 million or so per year during the boom years of real estate, but come on 5 million is a heck of a lot of homes changing hands.
The real low point in existing home sales came in 1970 and the sales rate in January 2008 was three times greater than 1970. You really should not believe everything that you hear.
The interest rates have trended up a half point recently, but look where they are. That 6.27 rate on a 30 year fixed is lower than a year ago and from a historical perspective near all time lows. Financing a home purchase is very affordable from an interest rate standpoint.
Many economists are even forecasting lower rates in the coming months and the Fed Chairman Ben Bernanke promises to continue cutting short term interest rates. What this all means is there is strong potential for a bottoming of the market and a turnaround in real estate.
The remaining piece to the puzzle is for home buyers, even more real estate investors and consumers to realize this. Once they start taking a look at the deep discounts being offered with the pricing in local markets the market will turn. The time has come to get off the sidelines or miss opportunity of a lifetime in real estate.
Low real estate prices and low interest rates just do not happen in real estate at the same time. When they do you need to take advantage it.
วันอังคารที่ 4 มีนาคม พ.ศ. 2551
Quick and Easy Ways to Spruce up Your Real Estate
Quick and Easy Ways to Spruce up Your Real Estate
by Bruce
When you need to spruce up that recent real estate investment or get your home ready to sell, but you don’t want to spend a lot of time or money on it. Here are a few tips that are quick, easy and inexpensive ways to fix your fixer upper.
Paint - When you are trying to improve the appearance a little paint can go a long way in improvement. A nice freshly painted surface can make it look as good as new. If you find a good looking paint you may want to think about brightening up the trim with a coat of semi gloss. Make sure to go with a beige or white neutral color when painting the interior.
Cabinets - Do the bathroom and kitchen cabinets got you down? Spruce them up with a coat of paint to give them a new and improved look. If the cabinets are stained or heavily colored use a white semi gloss. A quick coat of paint on the cabinets is much less costly than replacing them and can make them shine. Take it a little further by purchasing some new hardware for the cabinets. You can pick up simple round handles inexpensively at any home improvement store.
Switch out the switch and outlet covers â€" Do not paint over switch plate covers. They are cheap so just purchase new ones and replace them for a fresh and clean look. If the problem is the entire switch does not work, replace the whole thing for as little as $2.
Give it new trim â€" If that trim is not looking good, just replace it. You can get the durable foam trim that looks just like the real stuff at Lowes or Home Depot. You will be able to find it either unfinished or already painted depending on what you are looking for.
Give it new doors and handles â€" Go ahead like on the outlet covers, bit the bullet and replace the doors. Doors are inexpensive you can typically replace an old door with a new six panel hollow core for around $30. Then take and give it even more by replacing the old, worn door handles with new ones. This can give it a fresh, less grungy look. Door handles will run about $10 to $20 depending on the style you choose.
On the topic of doors â€" Improve the entrance to the home by replacing that front door to make the home brighter. You can get a nice heavy door for about $140, but if you don’t want to replace it try giving it a coat of high gloss paint instead. Use a color that makes it pop like red or green.
Make the mailman smile â€" Buy a new mailbox that makes a statement. For around $30 to $40 you can get a mailbox unlike anyone else’s on the street. If you add another $60 you should be able to get a nice, new sturdy post to place it on.
by Bruce
When you need to spruce up that recent real estate investment or get your home ready to sell, but you don’t want to spend a lot of time or money on it. Here are a few tips that are quick, easy and inexpensive ways to fix your fixer upper.
Paint - When you are trying to improve the appearance a little paint can go a long way in improvement. A nice freshly painted surface can make it look as good as new. If you find a good looking paint you may want to think about brightening up the trim with a coat of semi gloss. Make sure to go with a beige or white neutral color when painting the interior.
Cabinets - Do the bathroom and kitchen cabinets got you down? Spruce them up with a coat of paint to give them a new and improved look. If the cabinets are stained or heavily colored use a white semi gloss. A quick coat of paint on the cabinets is much less costly than replacing them and can make them shine. Take it a little further by purchasing some new hardware for the cabinets. You can pick up simple round handles inexpensively at any home improvement store.
Switch out the switch and outlet covers â€" Do not paint over switch plate covers. They are cheap so just purchase new ones and replace them for a fresh and clean look. If the problem is the entire switch does not work, replace the whole thing for as little as $2.
Give it new trim â€" If that trim is not looking good, just replace it. You can get the durable foam trim that looks just like the real stuff at Lowes or Home Depot. You will be able to find it either unfinished or already painted depending on what you are looking for.
Give it new doors and handles â€" Go ahead like on the outlet covers, bit the bullet and replace the doors. Doors are inexpensive you can typically replace an old door with a new six panel hollow core for around $30. Then take and give it even more by replacing the old, worn door handles with new ones. This can give it a fresh, less grungy look. Door handles will run about $10 to $20 depending on the style you choose.
On the topic of doors â€" Improve the entrance to the home by replacing that front door to make the home brighter. You can get a nice heavy door for about $140, but if you don’t want to replace it try giving it a coat of high gloss paint instead. Use a color that makes it pop like red or green.
Make the mailman smile â€" Buy a new mailbox that makes a statement. For around $30 to $40 you can get a mailbox unlike anyone else’s on the street. If you add another $60 you should be able to get a nice, new sturdy post to place it on.
วันเสาร์ที่ 1 มีนาคม พ.ศ. 2551
San Fransisco real estate
San Fransisco real estate
by Paul Escobedo
The San Francisco Real Estate market is very diverse offering home buyers many options according to style and budget needs. If you are interested in making a real estate investment here, check out the many advertisements on the sale of home properties such as single family homes, condominiums, and custom homes. You can also hire a Realtor to help you with the purchase of your new property. Here is a look at some home buying tips that can be useful when you make your new purchase:
Decide on what type of property you want to buy before going out to see some. It makes your decision all the easier. Do you want a family home, a condominium, a townhouse, or loft? Check the features of each before you decide which one you want to see. How spacious is the property? Is it spacious enough for your individual or family requirements? This is an important factor because you don't want to buy property and then regret the fact that you don't have the space you expected with it. Check out the amenities offered. Are such amenities to your liking? Do you have local shops such as grocery stores nearby? Check out on neighborhood quality? Is the property placed in an area that is difficult to live in? Have a home inspector check out the premises for you. You can find out if the home conforms to building practices and if there are any repairs that need to get done. Pricing Is the property priced right for what it offers? Sometimes careful searching and comparisons can get you a really neat property. So don't choose one in a hurry and don't go beyond the budget you have set in mind
San Francisco is a vibrant and growing city and so any investment made into property today will yield a higher equity value in the coming years. Making a real state investment is definitely worth your money as you can use the built-up equity for taking loans in the future. San Francisco offers a good lifestyle and is a very upbeat place to live in especially for young people.
by Paul Escobedo
The San Francisco Real Estate market is very diverse offering home buyers many options according to style and budget needs. If you are interested in making a real estate investment here, check out the many advertisements on the sale of home properties such as single family homes, condominiums, and custom homes. You can also hire a Realtor to help you with the purchase of your new property. Here is a look at some home buying tips that can be useful when you make your new purchase:
Decide on what type of property you want to buy before going out to see some. It makes your decision all the easier. Do you want a family home, a condominium, a townhouse, or loft? Check the features of each before you decide which one you want to see. How spacious is the property? Is it spacious enough for your individual or family requirements? This is an important factor because you don't want to buy property and then regret the fact that you don't have the space you expected with it. Check out the amenities offered. Are such amenities to your liking? Do you have local shops such as grocery stores nearby? Check out on neighborhood quality? Is the property placed in an area that is difficult to live in? Have a home inspector check out the premises for you. You can find out if the home conforms to building practices and if there are any repairs that need to get done. Pricing Is the property priced right for what it offers? Sometimes careful searching and comparisons can get you a really neat property. So don't choose one in a hurry and don't go beyond the budget you have set in mind
San Francisco is a vibrant and growing city and so any investment made into property today will yield a higher equity value in the coming years. Making a real state investment is definitely worth your money as you can use the built-up equity for taking loans in the future. San Francisco offers a good lifestyle and is a very upbeat place to live in especially for young people.
Real Estate Information 101
Real Estate Information 101
by Bob Boblong
Buying French Homes
The country known as France offers investors a great opportunity to benefit from the ever increasing property values. France is very fortunate to have a stable housing market, which will continue to stay that way for years and years to come. The low property prices are always an attraction to the area, with strong growth and prospects to keep the overseas home buyer coming back for more. For anyone interested in overseas real estate - France offers plenty of benefits.
The property in France is easy to access, with many ways to reach the shores. In most cases, you can get there easily for a very cheap price. As many know, France is famous for their transport system, which includes high speed trains that travel to most of the regions. There are also ferries that cover the area, including low cost flights as well. Once you buy a home in France, you'll quickly become accustomed to the lifestyle there.
A lot of people who decide to buy a home in France, do so because of the surroundings. Buying a home in France is more than just the house, as you'll get a chance to experience the finer things in life. France has several romantic attractions, which makes it perfect for married couples looking to spend their life together. Throw in some great drinks and relaxation, and France has all of your activities covered - along with a beautiful and spectacular house.
Unlike other regions throughout the world, France has one of the most established legal processes, one that has been proven time and time again over the years. Locals view the legal system as safe, as it helps for those who are interested in French property. As you can tell, French real estate is very different from that of the United States.
Although there are many locations overseas that you can invest in, France is actually preferred to be one of the best. France is known as a nation of renters, with plenty of real estate available for purchase. If you choose to rent out your property, buying in France will pretty much mean that you won't have any problems renting. There are always people looking for vacation rentals and such in the area, making it perfect for investors or those looking for a second income.
Unlike other real estate locations, France offers you mountain snow complete with maritime living. France is a massive region, with plenty of houses to choose from. If you've been looking for overseas real estate, France is a location you can't go wrong with. There is always something to do here, and plenty of things to see. As a second home or as a way of life - France represents an amazing and cultivating lifestyle that you simply must see to believe.
by Bob Boblong
Buying French Homes
The country known as France offers investors a great opportunity to benefit from the ever increasing property values. France is very fortunate to have a stable housing market, which will continue to stay that way for years and years to come. The low property prices are always an attraction to the area, with strong growth and prospects to keep the overseas home buyer coming back for more. For anyone interested in overseas real estate - France offers plenty of benefits.
The property in France is easy to access, with many ways to reach the shores. In most cases, you can get there easily for a very cheap price. As many know, France is famous for their transport system, which includes high speed trains that travel to most of the regions. There are also ferries that cover the area, including low cost flights as well. Once you buy a home in France, you'll quickly become accustomed to the lifestyle there.
A lot of people who decide to buy a home in France, do so because of the surroundings. Buying a home in France is more than just the house, as you'll get a chance to experience the finer things in life. France has several romantic attractions, which makes it perfect for married couples looking to spend their life together. Throw in some great drinks and relaxation, and France has all of your activities covered - along with a beautiful and spectacular house.
Unlike other regions throughout the world, France has one of the most established legal processes, one that has been proven time and time again over the years. Locals view the legal system as safe, as it helps for those who are interested in French property. As you can tell, French real estate is very different from that of the United States.
Although there are many locations overseas that you can invest in, France is actually preferred to be one of the best. France is known as a nation of renters, with plenty of real estate available for purchase. If you choose to rent out your property, buying in France will pretty much mean that you won't have any problems renting. There are always people looking for vacation rentals and such in the area, making it perfect for investors or those looking for a second income.
Unlike other real estate locations, France offers you mountain snow complete with maritime living. France is a massive region, with plenty of houses to choose from. If you've been looking for overseas real estate, France is a location you can't go wrong with. There is always something to do here, and plenty of things to see. As a second home or as a way of life - France represents an amazing and cultivating lifestyle that you simply must see to believe.
Real Estate information buying unfinished homes
Real Estate information buying unfinished homes
by Bob Boblong
Buying Unfinished Homes
Unfinished homes present a great way to save a lot of money and get yourself a new home in the process. If you buy an unfinished home, you can keep your monthly mortgage payment low and also lower your initial investment. You may also be able to buy a larger foundation size as well, which you can easily add on to and save money in the process.
Normally, unfinished starter homes leave the upstairs area unfinished. The question here, is just how much equity you want to put into an unfinished area. Sometimes though, an unfinished home may leave the roofing, framing, plumbing, or electrical aspects unfinished. Before you make a purchase, you should always decide how much money you have to finish what needs to be finished.
If the home you are looking at has plans for a garage, you can save thousands if you decide not to go with the garage. On the other hand, if there is another attached room that is planned to go onto the house, you can save just as much if you decide to forgo it. There are always ways that you can save money just by looking at the plans. Unfinished homes may have other planned on additions as well, in which you can save a lot of money just by leaving them out.
The is something that you should always keep in mind. When builders acquire a piece of property that they plan to build a home on, they will do everything they can do make as much money as possible on their homes. You might be able to get them to agree to some of these ideas, although they probably won't agree to all of them. Building homes can be a very profitable business - which is why most companies like to build their homes exactly as the plans call for.
When looking at unfinished homes, you also need to look at what banks are willing to accept. If you are planning to get a mortgage, most banks will need to ensure that the home is up to local codes and in living condition. What this means, is that there will need to be a living room, bedroom, and other rooms finished. If the home is lacking quite a bit in terms of being unfinished, most banks won't give you a mortgage.
Most banks are also known to turn down unfinished home mortgages that they feel will have trouble selling in the event that you default. Normally, the entire downstairs area will need to be finished, along with most of the landscaping. You might be able to do some of it yourself and save money, although in most cases the home builder will need to do a majority of the topsoil and grass just to satisfy the bank. Banks have strict requirements when it comes to unfinished homes, which is why you should always check with your bank before you invest in an unfinished home.
As most of us already know, buying an unfinished home provides an excellent way to get into the housing market and get your very own home. Unfinished homes also allow potential buyers the chance to grow into their home along with their family. If you are interested in saving money, you should be sure to talk to the builder. This way, you can go over the plans and decide what doesn't need to be there. In most cases you can save a lot of money and still get a home that will provide years and years of memories for yourself and your entire family. Now Visit http://www.simplybestrealestate.info
by Bob Boblong
Buying Unfinished Homes
Unfinished homes present a great way to save a lot of money and get yourself a new home in the process. If you buy an unfinished home, you can keep your monthly mortgage payment low and also lower your initial investment. You may also be able to buy a larger foundation size as well, which you can easily add on to and save money in the process.
Normally, unfinished starter homes leave the upstairs area unfinished. The question here, is just how much equity you want to put into an unfinished area. Sometimes though, an unfinished home may leave the roofing, framing, plumbing, or electrical aspects unfinished. Before you make a purchase, you should always decide how much money you have to finish what needs to be finished.
If the home you are looking at has plans for a garage, you can save thousands if you decide not to go with the garage. On the other hand, if there is another attached room that is planned to go onto the house, you can save just as much if you decide to forgo it. There are always ways that you can save money just by looking at the plans. Unfinished homes may have other planned on additions as well, in which you can save a lot of money just by leaving them out.
The is something that you should always keep in mind. When builders acquire a piece of property that they plan to build a home on, they will do everything they can do make as much money as possible on their homes. You might be able to get them to agree to some of these ideas, although they probably won't agree to all of them. Building homes can be a very profitable business - which is why most companies like to build their homes exactly as the plans call for.
When looking at unfinished homes, you also need to look at what banks are willing to accept. If you are planning to get a mortgage, most banks will need to ensure that the home is up to local codes and in living condition. What this means, is that there will need to be a living room, bedroom, and other rooms finished. If the home is lacking quite a bit in terms of being unfinished, most banks won't give you a mortgage.
Most banks are also known to turn down unfinished home mortgages that they feel will have trouble selling in the event that you default. Normally, the entire downstairs area will need to be finished, along with most of the landscaping. You might be able to do some of it yourself and save money, although in most cases the home builder will need to do a majority of the topsoil and grass just to satisfy the bank. Banks have strict requirements when it comes to unfinished homes, which is why you should always check with your bank before you invest in an unfinished home.
As most of us already know, buying an unfinished home provides an excellent way to get into the housing market and get your very own home. Unfinished homes also allow potential buyers the chance to grow into their home along with their family. If you are interested in saving money, you should be sure to talk to the builder. This way, you can go over the plans and decide what doesn't need to be there. In most cases you can save a lot of money and still get a home that will provide years and years of memories for yourself and your entire family. Now Visit http://www.simplybestrealestate.info
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