The Fate Of The Real Estate Agent
by Shaun Greer
It may have taken longer than with other industries, but realtors are starting to see the impact of the Internet on their incomes. While the Internet has provided easy access to much more information for realtors to do their job better, it has also given the same information to homeowners looking for ways to save while looking for a new home. Specifically, sites like HomeGain and Zillow are showing realtors that their industry will need to change or they will be reduced in numbers. Since these websites are giving away precious real estate information for free, commissions are dropping for realtors.
What is the main motivating factor to sign on with a realtor? In one word, information is the key reason why most homeowners will choose a realtor for their home buying and selling needs. After all, realtors have access to information the average person cannot obtain. However, with the appearance of HomeGain and Zillow on the marketplace, access to the information has now become public knowledge.
In the past, you simply could not buy or sell a home without the use of a realtor. Their access to the National Association of Realtors' multiple listing services was essential to buying or selling your home in an appropriate amount of time at a price that suited the homeowners. Only real estate agents knew what homes in the area were being sold for and they were only willing to share that information for a commission, the standard 6 percent.
Now, however, real estate information has become available online and become available for free. Any average homeowner can get a estimate on their homes value through RealEstateABC, Zillow and HomeGain. Or they can get an offer on their house from sites like ExpertHomeOffers. Should a homeowner want to put their home out there for public access, they can easily place their property information on ForSaleByOwner and other sites.
Accuracy, however, is the drawback for these websites and currently, the saving point for realtors who might worry about the future of their careers in the face of these daunting information sites. Currently, Zillow can be slightly off on homes in neighborhoods where fewer properties sell. These sites will be more accurate in neighborhoods who have had a number of sales recently to better gauge comparables in the area.
However, a realtor will have a similar problem in a neighborhood that rarely sells properties and websites like Zillow have an advantage they are not biased. Whereas an overzealous realtor might inflate home estimates to win over prospective clients, Zillow and other similar websites tell it exactly like it is, for better or worse.
Another down side of not using a real estate agent in a new home purchase or to sell a home is that a real estate agent can protect your best interests. Home owners rarely buy or sell real estate and most need help through the process. It can be complicated and if you make a mistake it can cost you thousands.
However, if you need to sell your house fast you would be much better off selling to a local home buyer in your area. They exist in every major city in the nation and they buy multiple homes each month. They mostly deal with people who are facing foreclosure, moving out of state or recently inherited a home, but their service is free.
The change in the real estate market mirrors what happened with traditional stock brokers whose monopoly on trading information was threatened with the advent of investing websites. Just as these stock brokers had to change their offerings and lower their fees, so too will realtors have to change in order to be a viable and important part of the real estate market. Rather than fight these informational websites, realtors will have to find ways to make their services invaluable for the homeowners who will need their marketing skills and experience in the real estate market.
วันอาทิตย์ที่ 22 มิถุนายน พ.ศ. 2551
วันเสาร์ที่ 21 มิถุนายน พ.ศ. 2551
Is It Time To Buy Austin Real Estate?
Is It Time To Buy Austin Real Estate?
by Brian Talley
So what is the state of Austin Texas real estate these days? And is it a good time for you to find an Austin Realtor and go shopping for a home?
As usual, that answer depends on who you believe, and how you interpret the facts about what's happening in our economy. And these days the facts don't seem to all point in the same direction.
Let's start with some good news: unemployment in Austin is down, from 3.7 % in March to 3.3 % in April. More people are in the workforce, holding down jobs. There are parts of town where development is thriving, adding new Austin office space, retail and other buildings. Outwardly, things in town appear healthy and optimistic - usually a great indicator.
It would seem, then, that the Austin Texas real estate scene would follow a similar upbeat pattern. Not so.
There are indications that the housing market is on shaky ground. To begin, foreclosures in the region are way up - 47 % from this time last year. And the number of homes selling is substantially down over last year. The first quarter of 2008 had a 25% decline in homes sold, with a staggering 43% increase in the number of homes for sale withdrawn from the Austin real estate market. The most recent figures from the Multiple Listing Service - the prime information source for Austin TX Realtors - only seem to cement this downward trend: for the month of May home sales were down 37% and withdrawn listings were up 39%. Further, homes are staying on the market longer too.
Despite all this news, amazingly home prices have actually managed to go up slightly, by 4%. One would think that would be a sliver of good news for a homeowner looking to sell.
But higher prices signal trouble to some analysts. The chief economist for the National Association of Realtors says that in cities like Sarasota and San Diego where prices have plummeted (due in part to rising foreclosures, where savvy buyers can get a home for a bargain) pending sales have actually increased - indicating to him that there is a real estate recovery, and it's on the fast track.
That same news, he argues, is to the disadvantage of cities like Nashville, Seattle and yes - Austin, where he claims home prices peaked last year and are still too high for buyers to afford. He is looking for what he calls a "painful correction" in Austin real estate, saying buyers won't come off the sidelines until prices fall significantly.
But does that make sense? Does that square with the fact that foreclosures here too have been on the rise? Wouldn't that then have already helped Austin real estate prices fall like in the other cities?
And how does this reconcile with earlier reports this year from various other analysts that the Austin Texas real estate scene was one of the exceptions to the gloomy predicament gripping most of the rest of the country?
And what "Austin" are we talking about? Oak Hill? Westlake? Pflugerville? Anyone who lives here knows that you can't generalize Austin, given the array of vastly different sections and subdivisions.
Could it be that the reason more homes aren't selling is because the universe of potential buyers has shrunk, due to lenders being a little stingier with loans, in the wake of the sub prime mortgage crisis?
In the end, can anyone make a definitive statement about the health of Austin's real estate market? And for a person thinking about buying a home now, does any of this even matter? Assuming you can qualify for a loan, the simple truth is there is a lot of inventory out there right now, in a whole range of prices, spanning a wide variety of neighborhoods.
by Brian Talley
So what is the state of Austin Texas real estate these days? And is it a good time for you to find an Austin Realtor and go shopping for a home?
As usual, that answer depends on who you believe, and how you interpret the facts about what's happening in our economy. And these days the facts don't seem to all point in the same direction.
Let's start with some good news: unemployment in Austin is down, from 3.7 % in March to 3.3 % in April. More people are in the workforce, holding down jobs. There are parts of town where development is thriving, adding new Austin office space, retail and other buildings. Outwardly, things in town appear healthy and optimistic - usually a great indicator.
It would seem, then, that the Austin Texas real estate scene would follow a similar upbeat pattern. Not so.
There are indications that the housing market is on shaky ground. To begin, foreclosures in the region are way up - 47 % from this time last year. And the number of homes selling is substantially down over last year. The first quarter of 2008 had a 25% decline in homes sold, with a staggering 43% increase in the number of homes for sale withdrawn from the Austin real estate market. The most recent figures from the Multiple Listing Service - the prime information source for Austin TX Realtors - only seem to cement this downward trend: for the month of May home sales were down 37% and withdrawn listings were up 39%. Further, homes are staying on the market longer too.
Despite all this news, amazingly home prices have actually managed to go up slightly, by 4%. One would think that would be a sliver of good news for a homeowner looking to sell.
But higher prices signal trouble to some analysts. The chief economist for the National Association of Realtors says that in cities like Sarasota and San Diego where prices have plummeted (due in part to rising foreclosures, where savvy buyers can get a home for a bargain) pending sales have actually increased - indicating to him that there is a real estate recovery, and it's on the fast track.
That same news, he argues, is to the disadvantage of cities like Nashville, Seattle and yes - Austin, where he claims home prices peaked last year and are still too high for buyers to afford. He is looking for what he calls a "painful correction" in Austin real estate, saying buyers won't come off the sidelines until prices fall significantly.
But does that make sense? Does that square with the fact that foreclosures here too have been on the rise? Wouldn't that then have already helped Austin real estate prices fall like in the other cities?
And how does this reconcile with earlier reports this year from various other analysts that the Austin Texas real estate scene was one of the exceptions to the gloomy predicament gripping most of the rest of the country?
And what "Austin" are we talking about? Oak Hill? Westlake? Pflugerville? Anyone who lives here knows that you can't generalize Austin, given the array of vastly different sections and subdivisions.
Could it be that the reason more homes aren't selling is because the universe of potential buyers has shrunk, due to lenders being a little stingier with loans, in the wake of the sub prime mortgage crisis?
In the end, can anyone make a definitive statement about the health of Austin's real estate market? And for a person thinking about buying a home now, does any of this even matter? Assuming you can qualify for a loan, the simple truth is there is a lot of inventory out there right now, in a whole range of prices, spanning a wide variety of neighborhoods.
Tips for Choosing a Real Estate Appraiser
Tips for Choosing a Real Estate Appraiser
by Donovan Carter
Whether you're investigating the value of your own property, the potential of an investment property or trying to obtain financing for a home, you'll need the services of a certified real estate appraiser. If you're trying to hunt down the value of a particular property and need to hire a real estate appraiser, keep reading for some tips on how to locate a quality person.
1. Ask your Bank
Because most lenders require proof of the value of a property before they will finance its purchase, they can often recommend trusted appraisers that they work with on a frequent basis.
If you trust your bank or lender, ask your mortgage agent for an appraiser recommendation.
2. Check with your Real Estate Agent
Your real estate agent is there to help you make this sale happen. Since they work in the business, they deal with appraisals and appraisers every day. Likely, your agent will be able to recommend a number of appraisers that they work with and trust.
3. Opt for Experience
The value of a home, whether you're buying or setting an asking price, is going to depend largely on the appraiser's recommendation and appraisal. Hiring the wrong appraiser or an inexperienced person could cost you a lot of money, whether you set the asking price for your house too low or you buy a home that's simply not worth its stated value.
When hiring a home appraiser, look for experience and good references, not the cheapest price.
4. Ask Family and Friends
Some of the best recommendations come from our trusted friends and families, so ask around. If a member of your family or circle of friends has recently purchased a home, ask them about their appraiser and whether they would recommend them.
When hiring a service provider on a recommendation, always mention that you were referred to their business and who gave the referral. Referral-based business can often go a lot smoother than a cold call.
5. Check Online Customer Reviews
Many consumer review sites, like Yelp.com, let customers review and rate service providers and businesses in their area. These sites let you read actual customer reviews that include the good, the bad and the ugly about a particular business. So, before you hire, check online for customer reviews and comments.
Hiring a real estate appraiser is necessary, but also easier than it sounds. To get the best results, ask your bank, real estate agent and family and friends for recommendations. Finally, remember to opt for experience and check available customer reviews.
by Donovan Carter
Whether you're investigating the value of your own property, the potential of an investment property or trying to obtain financing for a home, you'll need the services of a certified real estate appraiser. If you're trying to hunt down the value of a particular property and need to hire a real estate appraiser, keep reading for some tips on how to locate a quality person.
1. Ask your Bank
Because most lenders require proof of the value of a property before they will finance its purchase, they can often recommend trusted appraisers that they work with on a frequent basis.
If you trust your bank or lender, ask your mortgage agent for an appraiser recommendation.
2. Check with your Real Estate Agent
Your real estate agent is there to help you make this sale happen. Since they work in the business, they deal with appraisals and appraisers every day. Likely, your agent will be able to recommend a number of appraisers that they work with and trust.
3. Opt for Experience
The value of a home, whether you're buying or setting an asking price, is going to depend largely on the appraiser's recommendation and appraisal. Hiring the wrong appraiser or an inexperienced person could cost you a lot of money, whether you set the asking price for your house too low or you buy a home that's simply not worth its stated value.
When hiring a home appraiser, look for experience and good references, not the cheapest price.
4. Ask Family and Friends
Some of the best recommendations come from our trusted friends and families, so ask around. If a member of your family or circle of friends has recently purchased a home, ask them about their appraiser and whether they would recommend them.
When hiring a service provider on a recommendation, always mention that you were referred to their business and who gave the referral. Referral-based business can often go a lot smoother than a cold call.
5. Check Online Customer Reviews
Many consumer review sites, like Yelp.com, let customers review and rate service providers and businesses in their area. These sites let you read actual customer reviews that include the good, the bad and the ugly about a particular business. So, before you hire, check online for customer reviews and comments.
Hiring a real estate appraiser is necessary, but also easier than it sounds. To get the best results, ask your bank, real estate agent and family and friends for recommendations. Finally, remember to opt for experience and check available customer reviews.
Make Your Real Estate Pictures Perfect
Make Your Real Estate Pictures Perfect
by Nelson Stewart
So your selling your house, and the agent is coming to take photographs. Do yourself a favor and consider the following advice. After all, the picture is what most buyers are going to see first. If they like the picture, they'll search further for more info, ideally coming to see your home in person. If they don't like the picture, they'll just click on by.
Cluttered Counters: So many times in interior real estate photographs I see drinking glasses or worse pop and even beer cans sitting out on the counter or table. I am sorry, but this just lacks class. Your home doesn't have to be the Hilton to deserve a tidy-up before the Realtor comes. For such an import appointment, clear off the counters and tables.
Dark Windows: When you book a time for your promotional photographs to be taken, make it during the day. Natural light enhances your home's looks, and bright windows with a view of the outdoors make rooms look cheery and inviting. Too often I see pictures of rooms with dark windows. They are like depressing caves to me, and the light of the camera flash reflecting in them is no solace. Further, many people are interested in seeing the yard or other exterior features of a home. If the photographs are taken in daylight, any feature of the home, inside and out, can be on display.
Television on: As with the cluttered counters, I see having a TV on during photographing as a sign that you just can't be bothered. Not that I expect all home sellers to stand at attention from the moment their home is listed until it sells, but, for me it's an aesthetic issue. A TV on is a distraction, even in a still photograph. It takes away from your home.
These are a few key things that could be considered when taking real estate photos, to make them the best they can be. In general, too much clutter distracts viewers, in a photograph and in a personal showing. Buyers want to see your house, not your dirty laundry, your favorite drink, or whatever was on TV the day the Realtor came by.
by Nelson Stewart
So your selling your house, and the agent is coming to take photographs. Do yourself a favor and consider the following advice. After all, the picture is what most buyers are going to see first. If they like the picture, they'll search further for more info, ideally coming to see your home in person. If they don't like the picture, they'll just click on by.
Cluttered Counters: So many times in interior real estate photographs I see drinking glasses or worse pop and even beer cans sitting out on the counter or table. I am sorry, but this just lacks class. Your home doesn't have to be the Hilton to deserve a tidy-up before the Realtor comes. For such an import appointment, clear off the counters and tables.
Dark Windows: When you book a time for your promotional photographs to be taken, make it during the day. Natural light enhances your home's looks, and bright windows with a view of the outdoors make rooms look cheery and inviting. Too often I see pictures of rooms with dark windows. They are like depressing caves to me, and the light of the camera flash reflecting in them is no solace. Further, many people are interested in seeing the yard or other exterior features of a home. If the photographs are taken in daylight, any feature of the home, inside and out, can be on display.
Television on: As with the cluttered counters, I see having a TV on during photographing as a sign that you just can't be bothered. Not that I expect all home sellers to stand at attention from the moment their home is listed until it sells, but, for me it's an aesthetic issue. A TV on is a distraction, even in a still photograph. It takes away from your home.
These are a few key things that could be considered when taking real estate photos, to make them the best they can be. In general, too much clutter distracts viewers, in a photograph and in a personal showing. Buyers want to see your house, not your dirty laundry, your favorite drink, or whatever was on TV the day the Realtor came by.
วันพุธที่ 18 มิถุนายน พ.ศ. 2551
The Importance of Internet Marketing For Selling Real Estate
The Importance of Internet Marketing For Selling Real Estate
by Mark Cheng
In today's technology driven world, more and more buyers are turning to the internet to look for a home. In a 2006 survey, the National Association of Realtors found that over 75% of buyers start their search online. With so many homes on the market today, it is now essential that these buyers see your home first.
And in the real estate market's current state, it's now more important than ever to have a solid internet marketing plan as part of your overall marketing plan. With so many homes for sale, buyers simply don't have the time to see the hundreds of homes on the market.
What are some ways a technology savvy real estate agent can use to help market your home?
1. Preparing the Home to be Showcased
Even though this isn't high-tech, preparing your home for showings and pictures is essential for producing showings and eventually offers for your home. In today's market, buyers are pickier than ever and expecting homes in the like-new condition. If you look at the closed sales, the ones that sell are the ones that are turn-key or in move-in condition. So before you even take a picture, talk with your agent about cleaning, painting, and staging your home to sell.
2. Photographs, Descriptions, and Virtual Tours
After your home is properly staged or prepared for showing, photographs should be taken, either by a professional photographer or by a realtor with a good, panoramic camera. A panoramic camera will be able to showcase entire rooms and will make the house bigger. So many times, there are beautiful homes on the market with poor photos. And no matter how spectacular your home is, if you have poor quality pictures or a lackluster description, a buyer might eliminate your home without ever stepping onto your property. Also work with your agent to describe the features you love about your house into a description that makes your home stand out. Lastly, virtual tours may also be a good option for showcasing your home but in some instances not having a virtual tour encourages buyers to visit the property instead of just see the virtual tour.
3. Maximizing Exposure for your Home
Now that your home is featured in its absolute best light, it's essential to get as many people to see it as possible. An agent up-to-date with technology should have a standard way of distributing information about your property online. First, I allow my listings to be sent through the MLS to hundreds of websites, including Coldwell Banker's, Century 21's, and Re/Max's websites. My goal is to showcase my seller's property to everyone I can, even to agents from other companies because they might just have a buyer for my client's home. Second, I also have a constantly growing number of sites I submit to, in addition to those above, all to put your property in front of as many buyers as possible.
Although the tools above will help you gain more exposure for your home, internet marketing is not a comprehensive solution but should be used as a part of an overall marketing plan that includes traditional marketing ideas as well. Open houses, broker caravans, signs, and the real estate brokerage network are still vital to selling a home for the most money in this market.
by Mark Cheng
In today's technology driven world, more and more buyers are turning to the internet to look for a home. In a 2006 survey, the National Association of Realtors found that over 75% of buyers start their search online. With so many homes on the market today, it is now essential that these buyers see your home first.
And in the real estate market's current state, it's now more important than ever to have a solid internet marketing plan as part of your overall marketing plan. With so many homes for sale, buyers simply don't have the time to see the hundreds of homes on the market.
What are some ways a technology savvy real estate agent can use to help market your home?
1. Preparing the Home to be Showcased
Even though this isn't high-tech, preparing your home for showings and pictures is essential for producing showings and eventually offers for your home. In today's market, buyers are pickier than ever and expecting homes in the like-new condition. If you look at the closed sales, the ones that sell are the ones that are turn-key or in move-in condition. So before you even take a picture, talk with your agent about cleaning, painting, and staging your home to sell.
2. Photographs, Descriptions, and Virtual Tours
After your home is properly staged or prepared for showing, photographs should be taken, either by a professional photographer or by a realtor with a good, panoramic camera. A panoramic camera will be able to showcase entire rooms and will make the house bigger. So many times, there are beautiful homes on the market with poor photos. And no matter how spectacular your home is, if you have poor quality pictures or a lackluster description, a buyer might eliminate your home without ever stepping onto your property. Also work with your agent to describe the features you love about your house into a description that makes your home stand out. Lastly, virtual tours may also be a good option for showcasing your home but in some instances not having a virtual tour encourages buyers to visit the property instead of just see the virtual tour.
3. Maximizing Exposure for your Home
Now that your home is featured in its absolute best light, it's essential to get as many people to see it as possible. An agent up-to-date with technology should have a standard way of distributing information about your property online. First, I allow my listings to be sent through the MLS to hundreds of websites, including Coldwell Banker's, Century 21's, and Re/Max's websites. My goal is to showcase my seller's property to everyone I can, even to agents from other companies because they might just have a buyer for my client's home. Second, I also have a constantly growing number of sites I submit to, in addition to those above, all to put your property in front of as many buyers as possible.
Although the tools above will help you gain more exposure for your home, internet marketing is not a comprehensive solution but should be used as a part of an overall marketing plan that includes traditional marketing ideas as well. Open houses, broker caravans, signs, and the real estate brokerage network are still vital to selling a home for the most money in this market.
วันจันทร์ที่ 16 มิถุนายน พ.ศ. 2551
Fairvue Plantation Offers the Best of Tennessee Real Estate
Fairvue Plantation Offers the Best of Tennessee Real Estate
by C. Jones
The process of considering Tennessee real estate is much more than simply shopping for a house and no community makes that distinction more clear than the Fairvue Plantation which offers a collection of thoughtfully designed neighborhoods, each filled with character and comfortable family dream homes.
Juliet balconies, beautiful courtyards and customized patios help make views of the golf course as much a part of the homes' interior designs as outstanding fireplaces and state of the art kitchens. Motor arches, rear alley access garages, elevated sites and winding sidewalks create stately neighborhoods unlike any others in Tennessee real estate today.
With immaculately landscaped open green spaces offering residents a place to socialize with both neighbors and guests, Fairvue Plantation is an elegant yet warm and inviting community.
The natural splendor of living on the water...the warm greetings of staff who know your name...inspiring attention to details...the seamless blending of privacy and hospitality. These are the simple joys people notice at Fairvue Plantation.
The greatest private joy for Fairvue families is living everyday amid these pleasures and so many more. Sunrise walks on the lake...golfing with the kids until dark...homes of unsurpassed style and quality...the artful entertaining of friends...the cosmopolitan shopping and cultural attractions nearby.
Fairvue Plantation is a gleaming example of the best in Tennessee real estate, with great shopping, entertainment, outdoor adventures and leisurely pastimes just outside your door.
by C. Jones
The process of considering Tennessee real estate is much more than simply shopping for a house and no community makes that distinction more clear than the Fairvue Plantation which offers a collection of thoughtfully designed neighborhoods, each filled with character and comfortable family dream homes.
Juliet balconies, beautiful courtyards and customized patios help make views of the golf course as much a part of the homes' interior designs as outstanding fireplaces and state of the art kitchens. Motor arches, rear alley access garages, elevated sites and winding sidewalks create stately neighborhoods unlike any others in Tennessee real estate today.
With immaculately landscaped open green spaces offering residents a place to socialize with both neighbors and guests, Fairvue Plantation is an elegant yet warm and inviting community.
The natural splendor of living on the water...the warm greetings of staff who know your name...inspiring attention to details...the seamless blending of privacy and hospitality. These are the simple joys people notice at Fairvue Plantation.
The greatest private joy for Fairvue families is living everyday amid these pleasures and so many more. Sunrise walks on the lake...golfing with the kids until dark...homes of unsurpassed style and quality...the artful entertaining of friends...the cosmopolitan shopping and cultural attractions nearby.
Fairvue Plantation is a gleaming example of the best in Tennessee real estate, with great shopping, entertainment, outdoor adventures and leisurely pastimes just outside your door.
วันเสาร์ที่ 14 มิถุนายน พ.ศ. 2551
Are Foreclosures Indicative of a Bottoming Real Estate Market?
Are Foreclosures Indicative of a Bottoming Real Estate Market?
by Raynor James
The real estate market is bouncing back from a legendary hot period by going ice cold. Money has dried up, home values are bombing out and foreclosures are at unheard of levels.
Is there any silver lining to the current real estate market? Is there any light at the end of the tunnel? Ironically, the foreclosure market might be providing it. Admittedly, you have to stare at it like one of those pictures of dots that reveals an image just before you pass out, but it is there. So, what is it?
The foreclosure market may be beginning to evidence the bottom of the real estate market. For those of you who are long suffering homeowners who have watched your equity shrink and shrink, I'll repeat that. We might be seeing the beginning of the turn around.
At its core, the real estate market is like any other market. It is all about supply and demand. As we know, the supply is huge and demand is minimal in the traditional real estate market at the moment. The foreclosure market, however, has begun to show a different profile.
Banks are stuck with foreclosures. They want them off their books. To get rid of them, they cut the prices pretty dramatically. For the last year or two, this hasn't really seemed to matter. Buyers were still sitting on the sidelines. Well, now their getting into the game. Reports are coming in hot and heavy that there is fierce competition for foreclosures. Banks are getting as many as 20 or more offers on their individual foreclosures.
Okay, so what's the big deal if there is competition for foreclosure purchases? Well, it represents the first signs of demand we've seen in the market. Foreclosures represent the best possible deal in most markets. If foreclosures start moving quickly, the next level of homes should heat up soon thereafter. Those homes aren't foreclosures! There regular old homes in the traditional market. As they are moved, the sellers will be looking to move up to new homes and so on.
Is this the sign we've been waiting for regarding the real estate market turning around? It could be. Does it mean the market will turn around tomorrow? Probably not, but we have to start somewhere.
by Raynor James
The real estate market is bouncing back from a legendary hot period by going ice cold. Money has dried up, home values are bombing out and foreclosures are at unheard of levels.
Is there any silver lining to the current real estate market? Is there any light at the end of the tunnel? Ironically, the foreclosure market might be providing it. Admittedly, you have to stare at it like one of those pictures of dots that reveals an image just before you pass out, but it is there. So, what is it?
The foreclosure market may be beginning to evidence the bottom of the real estate market. For those of you who are long suffering homeowners who have watched your equity shrink and shrink, I'll repeat that. We might be seeing the beginning of the turn around.
At its core, the real estate market is like any other market. It is all about supply and demand. As we know, the supply is huge and demand is minimal in the traditional real estate market at the moment. The foreclosure market, however, has begun to show a different profile.
Banks are stuck with foreclosures. They want them off their books. To get rid of them, they cut the prices pretty dramatically. For the last year or two, this hasn't really seemed to matter. Buyers were still sitting on the sidelines. Well, now their getting into the game. Reports are coming in hot and heavy that there is fierce competition for foreclosures. Banks are getting as many as 20 or more offers on their individual foreclosures.
Okay, so what's the big deal if there is competition for foreclosure purchases? Well, it represents the first signs of demand we've seen in the market. Foreclosures represent the best possible deal in most markets. If foreclosures start moving quickly, the next level of homes should heat up soon thereafter. Those homes aren't foreclosures! There regular old homes in the traditional market. As they are moved, the sellers will be looking to move up to new homes and so on.
Is this the sign we've been waiting for regarding the real estate market turning around? It could be. Does it mean the market will turn around tomorrow? Probably not, but we have to start somewhere.
Learn How to Invest in Real Estate
Learn How to Invest in Real Estate
by Daniel Millions
Investing in real estate is one of the wisest and soundest investments you will ever make. Historically, properties have had a tendency to continuously appreciate, unlike most other possessions which depreciate. Over time, properties can appreciate tens, hundreds, or even millions of dollars. It is because of this that the real estate investments market has become so large and lucrative. Like any investment, there is still risk, and a lot of work needs to be done to research and manage your investment property.
Unless you can pay off your house in full (most people cannot), interest will accrue on your mortgage. It is necessary to calculate if your estimated appreciation return exceeds your expenses. Besides just the mortgage, you need to cover repairs, insurance, and any other applicable fees. This is where risk comes in; if the appreciation is not great enough, you will take a loss. Losses from real estate investments are often the most frustrating, because real estate is a long-term commitment that usually lasts decades.
When choosing an investment property, there are many factors you must take in to account. Perhaps the most obvious would be the condition of the house. If the home is too dilapidated, the cost of repairs alone could outweigh any future benefit. Houses in disrepair are often cheaper, though, so after paying for repairs the total cost might be cheaper than if the house had been in perfect condition.
The most ideal and economic choice is to make any repairs yourself, as then you only need to cover materials and not labor. For this to work, you do need contracting skills and experience, which is not something everybody possesses.
How much land and what kind of land comes with your property is an important factor as well. A nice house with only a small plot might not be as expensive as a shabby one with acres. Land can be developed on, and it is one of the few assets that are permanent, as land cannot be destroyed in any way (except by certain natural disasters).
You also want desirable land. Owning a muddy, deserted forest does nothing for you, while possessing something like farmland is very valuable. Therefore it is critical that you consider the amount of land you will acquire so you can make an informed decision about whether to purchase or not.
The downright most important aspect of a property is its location, especially in crowded cities like New York or Los Angeles. When buying a home for yourself, location may not matter too much, as long as everything else is acceptable and high-quality. On the other hand, location plays a key role in determining the price of an investment property, because the demand for a prime location is so high.
Think about how important location is. It determines how easily you can access the city, how close you are to important places (such as supermarkets or restaurants), and, most importantly, how far away you are from your job. With rising gas prices, location is even more accentuated because it helps save money on fuel.
Many investors choose to rent out their properties, so they can make an immediate income instead of just a flat profit at the end of decades. Renting can offset your investment considerably, especially if you have multiple tenants who stay for a long time. The only downside is you may need to hire a property manager or help your tenants with house-related problems that occur.
by Daniel Millions
Investing in real estate is one of the wisest and soundest investments you will ever make. Historically, properties have had a tendency to continuously appreciate, unlike most other possessions which depreciate. Over time, properties can appreciate tens, hundreds, or even millions of dollars. It is because of this that the real estate investments market has become so large and lucrative. Like any investment, there is still risk, and a lot of work needs to be done to research and manage your investment property.
Unless you can pay off your house in full (most people cannot), interest will accrue on your mortgage. It is necessary to calculate if your estimated appreciation return exceeds your expenses. Besides just the mortgage, you need to cover repairs, insurance, and any other applicable fees. This is where risk comes in; if the appreciation is not great enough, you will take a loss. Losses from real estate investments are often the most frustrating, because real estate is a long-term commitment that usually lasts decades.
When choosing an investment property, there are many factors you must take in to account. Perhaps the most obvious would be the condition of the house. If the home is too dilapidated, the cost of repairs alone could outweigh any future benefit. Houses in disrepair are often cheaper, though, so after paying for repairs the total cost might be cheaper than if the house had been in perfect condition.
The most ideal and economic choice is to make any repairs yourself, as then you only need to cover materials and not labor. For this to work, you do need contracting skills and experience, which is not something everybody possesses.
How much land and what kind of land comes with your property is an important factor as well. A nice house with only a small plot might not be as expensive as a shabby one with acres. Land can be developed on, and it is one of the few assets that are permanent, as land cannot be destroyed in any way (except by certain natural disasters).
You also want desirable land. Owning a muddy, deserted forest does nothing for you, while possessing something like farmland is very valuable. Therefore it is critical that you consider the amount of land you will acquire so you can make an informed decision about whether to purchase or not.
The downright most important aspect of a property is its location, especially in crowded cities like New York or Los Angeles. When buying a home for yourself, location may not matter too much, as long as everything else is acceptable and high-quality. On the other hand, location plays a key role in determining the price of an investment property, because the demand for a prime location is so high.
Think about how important location is. It determines how easily you can access the city, how close you are to important places (such as supermarkets or restaurants), and, most importantly, how far away you are from your job. With rising gas prices, location is even more accentuated because it helps save money on fuel.
Many investors choose to rent out their properties, so they can make an immediate income instead of just a flat profit at the end of decades. Renting can offset your investment considerably, especially if you have multiple tenants who stay for a long time. The only downside is you may need to hire a property manager or help your tenants with house-related problems that occur.
วันอังคารที่ 10 มิถุนายน พ.ศ. 2551
Overcoming Home Buying Fear
Overcoming Home Buying Fear
by Tranett Walker
A first time home buyer may be terrified just thinking about the home-buying process...where to go, who to choose, can I afford it...how to get started. Homebuyeradvantages.com has identified some of the sources that cause fear and will share with you how to dissect this fear and keep moving forward with the home-buying process.
ONE: There is no "perfect" time to buy, any more than there is a right time to sell. If you find a new home now, don't try to second-guess the interest rates or the housing market by waiting. Changes don't usually occur fast enough to make that much difference in price, and remember a good home won't STAY ON THE MARKET LONG.
SIDEBAR: "FOR SALE" signs in yards DO NOT guarantee that those homes are still available. Often times, real estate signs will remain in the yard until the home has officially "closed" and is off the market. This happens primarily because deals fall through (do not work out) and the home has to be put back on the market, after being taken off for that buyer. If you work with a Real Estate Agent you will be able to verify the true status of the property at all times. If the deal falls through and you're working with an agent s/he can notify you immediately that the home is now back on the market. Find a Real Estate Agent today! Visit Keller Williams Realty.
TWO: Don't try to be a "killer" negotiator. Negotiation is definitely a part of the real estate process, but trying to win by getting an extra-low price may lose you the home you love.
SIDEBAR: If you are bidding on a highly desirable home, you want to make sure your offer is attractive, stands out and gets the seller's acceptance!
Always start by making an offer "lower" than the asking price for the home, but be careful not to "low ball." Often times first time home buyers think that if the seller "really" wants to sell they'll accept their offer. That is "improper" thinking. Sellers' have a choice in the offer they'll accept just as you have the choice in the home you'll purchase.
If you love the home and feel that it is the "perfect fit" for you and/or your family negotiate appropriately, fairly and wisely. Why miss out on the right home because you keep going back and forth with the seller over $1,500? Besides, $1,500 divided by 30 years (360 months) is a mere $4.16 cents more per month. Don't lose your dream home over dollars and cents!
THREE: Don't wait until you've found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
The Movin Guide specializes in local, long distance, international and self service moves. They also offer storage, packing and much more! For all your moving needs visit MovinGuide.com.
SIDEBAR: Before you make an offer on a home have your business in order! Make sure you have a pre-approval letter, know how soon you can move (closing on a home usually takes 30 days from the date your offer is accepted). Therefore, you have to wrap up loose ends at your current residence. Sellers don't like to have contingencies (i.e. stipulations) in the contract. For example, you can't close on the property until 90 days from the date of the accepted contract.
Remember there are other buyers in line looking at the same houses you may be considering. Be prepared. Be ready to play ball. Handle your business to help ensure a smooth transition.
FOUR: Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don't leave yourself short and let your home deteriorate.
SIDEBAR: It would be wise to have an emergency fund set aside for repairs and maintenance in your new home. Trust and believe things will happen in your new home. Unlike renting, there is no one to call at the leasing office to fix the toilet. Keep in mind that these responsibilities are now those of the first time home buyer.
But, don't be discouraged, because the benefits you receive as a first time home buyer FAR outweighs home maintenance. Remember, this is "your" valuable investment.
FIVE: Accept that a little buyer's remorse is inevitable and will usually pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits!
SIDEBAR: This one perhaps is one of the most important. Once you commit to one home (especially after looking at over 20) you'll wonder if you chose the right one. You'll wonder if you should have waited until next year and so on and so on. Understand that this feeling is common among the majority of buyers. Once you've chosen your home begin to settle, relax and start to visualize you and/or your family living in your new home. Those feelings of remorse tend to drift away.
Remind yourself that first time home buyers are wise adults who are building wealth for their futures. 2008 is the year for first time home buyers!
by Tranett Walker
A first time home buyer may be terrified just thinking about the home-buying process...where to go, who to choose, can I afford it...how to get started. Homebuyeradvantages.com has identified some of the sources that cause fear and will share with you how to dissect this fear and keep moving forward with the home-buying process.
ONE: There is no "perfect" time to buy, any more than there is a right time to sell. If you find a new home now, don't try to second-guess the interest rates or the housing market by waiting. Changes don't usually occur fast enough to make that much difference in price, and remember a good home won't STAY ON THE MARKET LONG.
SIDEBAR: "FOR SALE" signs in yards DO NOT guarantee that those homes are still available. Often times, real estate signs will remain in the yard until the home has officially "closed" and is off the market. This happens primarily because deals fall through (do not work out) and the home has to be put back on the market, after being taken off for that buyer. If you work with a Real Estate Agent you will be able to verify the true status of the property at all times. If the deal falls through and you're working with an agent s/he can notify you immediately that the home is now back on the market. Find a Real Estate Agent today! Visit Keller Williams Realty.
TWO: Don't try to be a "killer" negotiator. Negotiation is definitely a part of the real estate process, but trying to win by getting an extra-low price may lose you the home you love.
SIDEBAR: If you are bidding on a highly desirable home, you want to make sure your offer is attractive, stands out and gets the seller's acceptance!
Always start by making an offer "lower" than the asking price for the home, but be careful not to "low ball." Often times first time home buyers think that if the seller "really" wants to sell they'll accept their offer. That is "improper" thinking. Sellers' have a choice in the offer they'll accept just as you have the choice in the home you'll purchase.
If you love the home and feel that it is the "perfect fit" for you and/or your family negotiate appropriately, fairly and wisely. Why miss out on the right home because you keep going back and forth with the seller over $1,500? Besides, $1,500 divided by 30 years (360 months) is a mere $4.16 cents more per month. Don't lose your dream home over dollars and cents!
THREE: Don't wait until you've found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
The Movin Guide specializes in local, long distance, international and self service moves. They also offer storage, packing and much more! For all your moving needs visit MovinGuide.com.
SIDEBAR: Before you make an offer on a home have your business in order! Make sure you have a pre-approval letter, know how soon you can move (closing on a home usually takes 30 days from the date your offer is accepted). Therefore, you have to wrap up loose ends at your current residence. Sellers don't like to have contingencies (i.e. stipulations) in the contract. For example, you can't close on the property until 90 days from the date of the accepted contract.
Remember there are other buyers in line looking at the same houses you may be considering. Be prepared. Be ready to play ball. Handle your business to help ensure a smooth transition.
FOUR: Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don't leave yourself short and let your home deteriorate.
SIDEBAR: It would be wise to have an emergency fund set aside for repairs and maintenance in your new home. Trust and believe things will happen in your new home. Unlike renting, there is no one to call at the leasing office to fix the toilet. Keep in mind that these responsibilities are now those of the first time home buyer.
But, don't be discouraged, because the benefits you receive as a first time home buyer FAR outweighs home maintenance. Remember, this is "your" valuable investment.
FIVE: Accept that a little buyer's remorse is inevitable and will usually pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits!
SIDEBAR: This one perhaps is one of the most important. Once you commit to one home (especially after looking at over 20) you'll wonder if you chose the right one. You'll wonder if you should have waited until next year and so on and so on. Understand that this feeling is common among the majority of buyers. Once you've chosen your home begin to settle, relax and start to visualize you and/or your family living in your new home. Those feelings of remorse tend to drift away.
Remind yourself that first time home buyers are wise adults who are building wealth for their futures. 2008 is the year for first time home buyers!
วันจันทร์ที่ 9 มิถุนายน พ.ศ. 2551
How To Use Make Better Real Estate Investments
How To Use Make Better Real Estate Investments
by Alton Hargrave
Real estate investments are actually meant for the expert players of this field. That is true. Nevertheless, people who have already tried their hands in real estate investing know well that if the investments are made well, one can easily get profitable returns. As per the experts in the Real estate field, there are plenty of ways to earn significant profits in the real estate deals. If you feel that the place where you have invested is quite profitable, you can earn a handsome amount of profit.
For a novice in the field of real estate, there are many challenges and pitfalls to encounter. However, if s/he is able to take the chance and is mentally prepared to bear the risk, there is definitely a lot to earn and much to learn. However, in the long run, when he or she has gathered some experience, he can become a real estate investment master closing quite a number of lucrative real estate deals.
As you want to be a good player in the fields of real estate investment, you need to acquire few skills before hand, which can help you to be a real achiever in the field of real estate. There are a few skills that are needed for investing in a real estate deal, which are mandatory for a profitable real estate deal.
Learn how to find the right sellers-
You should be aware of how and when to find serious sellers, as these authentic sellers can help you to earn a profit in the field of real estate. Make sure the sellers are of high repute, as if you are investing for the first time; this may cause the investing at risk.
Learn to be a master negotiator while you are closing a real estate investment deal.
While you are a novice, you try to acquire the skills of how to deal with the real investment issues. However, all your effort goes in vein when you are not able to negotiate well and end up with high prices. For that, it is quite necessary to acquire proficiency i8n closing the real estate investment deals.
Capable to analyze real estate investment deal accurately-
If you are capable to analyze the real investment deal, you will be able to understand where and how to deal perfectly. This will help you to be a gainer in a long run, as you can calculate the risks to some extent.
Gain expertise in all the fields revolving around the real estate investment-
In order to gain expertise in the real estate investment field, you must acquire expertise in all the areas, which involves the real estate investment. You must be aware of the lingo and terms used in the real estate investment world.
Develop understanding on the Real estate and the financial risks involved-
If you are able to understand what the concept behind the real estate investment is and the risks and benefits involved, you can easily be a master of this field. This understanding can be developed easily by educating yourself in this field.
by Alton Hargrave
Real estate investments are actually meant for the expert players of this field. That is true. Nevertheless, people who have already tried their hands in real estate investing know well that if the investments are made well, one can easily get profitable returns. As per the experts in the Real estate field, there are plenty of ways to earn significant profits in the real estate deals. If you feel that the place where you have invested is quite profitable, you can earn a handsome amount of profit.
For a novice in the field of real estate, there are many challenges and pitfalls to encounter. However, if s/he is able to take the chance and is mentally prepared to bear the risk, there is definitely a lot to earn and much to learn. However, in the long run, when he or she has gathered some experience, he can become a real estate investment master closing quite a number of lucrative real estate deals.
As you want to be a good player in the fields of real estate investment, you need to acquire few skills before hand, which can help you to be a real achiever in the field of real estate. There are a few skills that are needed for investing in a real estate deal, which are mandatory for a profitable real estate deal.
Learn how to find the right sellers-
You should be aware of how and when to find serious sellers, as these authentic sellers can help you to earn a profit in the field of real estate. Make sure the sellers are of high repute, as if you are investing for the first time; this may cause the investing at risk.
Learn to be a master negotiator while you are closing a real estate investment deal.
While you are a novice, you try to acquire the skills of how to deal with the real investment issues. However, all your effort goes in vein when you are not able to negotiate well and end up with high prices. For that, it is quite necessary to acquire proficiency i8n closing the real estate investment deals.
Capable to analyze real estate investment deal accurately-
If you are capable to analyze the real investment deal, you will be able to understand where and how to deal perfectly. This will help you to be a gainer in a long run, as you can calculate the risks to some extent.
Gain expertise in all the fields revolving around the real estate investment-
In order to gain expertise in the real estate investment field, you must acquire expertise in all the areas, which involves the real estate investment. You must be aware of the lingo and terms used in the real estate investment world.
Develop understanding on the Real estate and the financial risks involved-
If you are able to understand what the concept behind the real estate investment is and the risks and benefits involved, you can easily be a master of this field. This understanding can be developed easily by educating yourself in this field.
วันศุกร์ที่ 6 มิถุนายน พ.ศ. 2551
Creating Multiple Income Streams With Real Estate Investments
Creating Multiple Income Streams With Real Estate Investments
by Hunter Craig
When it comes to real estate investing, rental properties offer the potential to create additional streams of income. For example, while a property appreciates in value, your rental income will cover the monthly mortgage payments and maintenance expenses and maybe even leave a little left over for profit. However, rental and investment properties offer even more opportunities for multiple income streams. Keep reading to learn how.
Parking Fees
Charging for parking spots may seem like a nominal source of income, maybe even just $20 per month per tenant, but spread over three tenants and twelve months, that's $720 in totally passive income. And depending whether the general locale is tough to find parking spots, many residents would consider that fee a bargain.
Storage Costs
If your rental property comes with storage space or units, consider charging an additional fee to tenants for their use. While offering storage space for free can be a great way to entice potential tenants during a soft rental market, you can also earn income on them during a landlord's market.
Laundry
While laundry is a drain on your utility bills and will cost you in the initial investment of purchasing coin-operated laundry equipment, you can turn it into a passive form of income.
There are many laundry facility rental companies that will install and maintain coin-operated laundry equipment while you simply sit back and collect a percentage of the proceeds. In turn, you're responsible for the utility payments, but free to keep the remainder.
Internet Services
With the ease of installing internal network wiring or even wireless networks, providing Internet access to your tenants is now easier than ever. Whether you incorporate the cost into the rent or charge an additional fee, this extra service is a great potential income source.
Tenant's Insurance
As the owner of a larger rental building, you may be eligible to purchase tenant's insurance on a group basis, and therefore a discount. This means, you can then either sell that insurance to your tenants at a profit or direct your tenants to your building's preferred tenant's insurance company and collect a commission on every sale.
Utilize Unused Space
If your property has an unused outbuilding or communal or hall space, consider renting it out to a number of tenants. For example, one apartment building had an empty and unused outbuilding. It soon became an artist's studio for several local craftspeople and earned the landlord an extra $600 a month in rental income.
by Hunter Craig
When it comes to real estate investing, rental properties offer the potential to create additional streams of income. For example, while a property appreciates in value, your rental income will cover the monthly mortgage payments and maintenance expenses and maybe even leave a little left over for profit. However, rental and investment properties offer even more opportunities for multiple income streams. Keep reading to learn how.
Parking Fees
Charging for parking spots may seem like a nominal source of income, maybe even just $20 per month per tenant, but spread over three tenants and twelve months, that's $720 in totally passive income. And depending whether the general locale is tough to find parking spots, many residents would consider that fee a bargain.
Storage Costs
If your rental property comes with storage space or units, consider charging an additional fee to tenants for their use. While offering storage space for free can be a great way to entice potential tenants during a soft rental market, you can also earn income on them during a landlord's market.
Laundry
While laundry is a drain on your utility bills and will cost you in the initial investment of purchasing coin-operated laundry equipment, you can turn it into a passive form of income.
There are many laundry facility rental companies that will install and maintain coin-operated laundry equipment while you simply sit back and collect a percentage of the proceeds. In turn, you're responsible for the utility payments, but free to keep the remainder.
Internet Services
With the ease of installing internal network wiring or even wireless networks, providing Internet access to your tenants is now easier than ever. Whether you incorporate the cost into the rent or charge an additional fee, this extra service is a great potential income source.
Tenant's Insurance
As the owner of a larger rental building, you may be eligible to purchase tenant's insurance on a group basis, and therefore a discount. This means, you can then either sell that insurance to your tenants at a profit or direct your tenants to your building's preferred tenant's insurance company and collect a commission on every sale.
Utilize Unused Space
If your property has an unused outbuilding or communal or hall space, consider renting it out to a number of tenants. For example, one apartment building had an empty and unused outbuilding. It soon became an artist's studio for several local craftspeople and earned the landlord an extra $600 a month in rental income.
วันพฤหัสบดีที่ 5 มิถุนายน พ.ศ. 2551
Downtown Revitalization Makes for a Thriving Real Estate Market
Downtown Revitalization Makes for a Thriving Real Estate Market
by DB Wilson
One key component in finding a good city/neighborhood/area to invest in, is in understanding the vitality and success of an area's downtown. Downtown revitalization has become a trend that attracts home buyers to buy- and for good reason. If you're looking to buy into an area with a solid downtown or one that is on the way to a positive revitalization, then read on.
There are many components that can make for a lively downtown core. One key element is diversity. A downtown that attracts different retail outlets, residential residences, culture, entertainment, government and tourist attractions is liable to be a very successful downtown. Many downtown areas may already have these elements. If a downtown is undergoing a revitalization you can probably check with the revitalization committee to see what future intentions and plans they have for the area.
Another ingredient that'll indicate positive development downtown is that the revitalization seems to be going on in many areas at once. Not only should commercial business and residential areas be sprouting new life, but social programs should be thriving such as youth development and employment services, anti-crime initiatives, recreational opportunities and public transit.
A following key factor for a vibrant downtown area, is the focus and attention paid to the development of unique qualities. Most revitalized downtown's are built up from a downtown that was there many moons ago. Attractive revitalizations are able to capitalize on the unique history of an area, by restoring older buildings and maintaining their heritage and character. Some areas are able to blend the new and the old, adding artistic flair that ties in with the historic character of the area.
Improved pedestrian pathways, the addition of attractive lights, benches, maps and floral landscaping are all signs that a downtown is cared about and cared for. Furthermore, careful planning with wider sidewalks and landscaping will encourage "on street" commerce and dining. This broadens the public sphere, bringing people closer together and promoting community, which is the main goal and the main attraction of any downtown core.
To know that a revitalization plan is truly supported you'll want to find out those who are on board. Partnerships are the tell-tale sign of a positive plan. Ideally, chambers of commerce, government, civic institutions, private sectors and other sectors are jointly involved to form a strong alliance for the future of the project.
Supported, happy downtown communities will never go out of style, as we've learned in the recent return to the downtown concept. A smart investor will look to cities who care about and invest in the vitality of their downtown's thriving future.
by DB Wilson
One key component in finding a good city/neighborhood/area to invest in, is in understanding the vitality and success of an area's downtown. Downtown revitalization has become a trend that attracts home buyers to buy- and for good reason. If you're looking to buy into an area with a solid downtown or one that is on the way to a positive revitalization, then read on.
There are many components that can make for a lively downtown core. One key element is diversity. A downtown that attracts different retail outlets, residential residences, culture, entertainment, government and tourist attractions is liable to be a very successful downtown. Many downtown areas may already have these elements. If a downtown is undergoing a revitalization you can probably check with the revitalization committee to see what future intentions and plans they have for the area.
Another ingredient that'll indicate positive development downtown is that the revitalization seems to be going on in many areas at once. Not only should commercial business and residential areas be sprouting new life, but social programs should be thriving such as youth development and employment services, anti-crime initiatives, recreational opportunities and public transit.
A following key factor for a vibrant downtown area, is the focus and attention paid to the development of unique qualities. Most revitalized downtown's are built up from a downtown that was there many moons ago. Attractive revitalizations are able to capitalize on the unique history of an area, by restoring older buildings and maintaining their heritage and character. Some areas are able to blend the new and the old, adding artistic flair that ties in with the historic character of the area.
Improved pedestrian pathways, the addition of attractive lights, benches, maps and floral landscaping are all signs that a downtown is cared about and cared for. Furthermore, careful planning with wider sidewalks and landscaping will encourage "on street" commerce and dining. This broadens the public sphere, bringing people closer together and promoting community, which is the main goal and the main attraction of any downtown core.
To know that a revitalization plan is truly supported you'll want to find out those who are on board. Partnerships are the tell-tale sign of a positive plan. Ideally, chambers of commerce, government, civic institutions, private sectors and other sectors are jointly involved to form a strong alliance for the future of the project.
Supported, happy downtown communities will never go out of style, as we've learned in the recent return to the downtown concept. A smart investor will look to cities who care about and invest in the vitality of their downtown's thriving future.
วันอังคารที่ 3 มิถุนายน พ.ศ. 2551
Tampa Bay Luxury Real Estate - Tampa Bay Luxury Homes
Tampa Bay Luxury Real Estate - Tampa Bay Luxury Homes
by Adam J Morien
Tampa is a city that offers something for everyone. When you think of Tampa your first thought is the beautiful white sandy beaches and enjoyable year around weather. But Tampa offers much more than that. Professional football, baseball and hockey teams for the sports fan. Channelside, Seminole Hard Rock Casino, Ybor City, and of course Gasparilla for the party lovers. The Performing Arts Center and the many art galleries for the sophisticated type. Last but not least, the many beautiful Tampa neighborhoods and Tampa Bay luxury homes.
All these things make Tampa a great place to live, but Tampa is also one of the best places to buy a home. The time to buy is now for all sectors of the market especially in the Tampa Bay luxury real estate sector. The Tampa market currently has around 6 months of home inventory. This may sound like a lot, but it isn't. A 6 month inventory is considered a "normal real estate market' by the experts. What does this mean for buyers and sellers? For sellers this means they have to compete with a lot of other homes. This means sellers are doing whatever they can to attract buyers. Home improvements, price reductions, realtor incentives...with the current level of competition, if the seller doesn't offer a great product, no one will view the house. What does this mean for buyers? This is the good news. There are many reasonably priced homes to choose from. In this type of market the buyer has all the power. Many buyers are making offers thousands of dollars below asking price just to see how much the seller will negotiate. Years ago this type of offer would have offended the seller. In today's market it is the standard.
Tampa is also one of the few areas in the country that maintains consistent population growth year after year. The tourism business is one of the things that drives Florida's population growth. The many attractions that Tampa offers bring many people here for both business and pleasure. Many people will come back to live in Florida or purchase a second home. In 2004 Tampa was ranked the #2 place in the country for start up companies. Tampa is also called the "Gateway to the Florida High Tech Corridor." Many companies have been offered grants and tax breaks to move their businesses to the area. These large corporate moves bring many qualified buyers to the market and high paid executives looking to buy Tampa luxury homes.
The time to buy in Tampa is now. Over 15,000 people move to Tampa every year. Tampa mid-range real estate and Tampa luxury real estate will always be in demand. The deals are out there. Don't wait for the paper or some expert on the internet to tell you that the real estate market has rebounded. By that time the sellers will start increasing prices and it will be too late.
by Adam J Morien
Tampa is a city that offers something for everyone. When you think of Tampa your first thought is the beautiful white sandy beaches and enjoyable year around weather. But Tampa offers much more than that. Professional football, baseball and hockey teams for the sports fan. Channelside, Seminole Hard Rock Casino, Ybor City, and of course Gasparilla for the party lovers. The Performing Arts Center and the many art galleries for the sophisticated type. Last but not least, the many beautiful Tampa neighborhoods and Tampa Bay luxury homes.
All these things make Tampa a great place to live, but Tampa is also one of the best places to buy a home. The time to buy is now for all sectors of the market especially in the Tampa Bay luxury real estate sector. The Tampa market currently has around 6 months of home inventory. This may sound like a lot, but it isn't. A 6 month inventory is considered a "normal real estate market' by the experts. What does this mean for buyers and sellers? For sellers this means they have to compete with a lot of other homes. This means sellers are doing whatever they can to attract buyers. Home improvements, price reductions, realtor incentives...with the current level of competition, if the seller doesn't offer a great product, no one will view the house. What does this mean for buyers? This is the good news. There are many reasonably priced homes to choose from. In this type of market the buyer has all the power. Many buyers are making offers thousands of dollars below asking price just to see how much the seller will negotiate. Years ago this type of offer would have offended the seller. In today's market it is the standard.
Tampa is also one of the few areas in the country that maintains consistent population growth year after year. The tourism business is one of the things that drives Florida's population growth. The many attractions that Tampa offers bring many people here for both business and pleasure. Many people will come back to live in Florida or purchase a second home. In 2004 Tampa was ranked the #2 place in the country for start up companies. Tampa is also called the "Gateway to the Florida High Tech Corridor." Many companies have been offered grants and tax breaks to move their businesses to the area. These large corporate moves bring many qualified buyers to the market and high paid executives looking to buy Tampa luxury homes.
The time to buy in Tampa is now. Over 15,000 people move to Tampa every year. Tampa mid-range real estate and Tampa luxury real estate will always be in demand. The deals are out there. Don't wait for the paper or some expert on the internet to tell you that the real estate market has rebounded. By that time the sellers will start increasing prices and it will be too late.
Making Money in Real Estate Even in a Down Market
Making Money in Real Estate Even in a Down Market
by Jason Delmar
Everyone is aware of the dramatic changes that have occurred in the national real estate market over the past year or two years. Prior to that, when property values were on a continuous increase, it was easy to buy a house, make some simple improvements, and make a lot of money. This even spawned the rash of home improvement shows and house flipping shows that falsely showed novice real estate flippers making $100,000 - $150,000 on a property in 6-8 weeks. Even in a strong market, this is the exception rather than the norm. In a slow economy, even the most experienced house flippers are having a hard time making a profit off of flipping houses. Now that you have heard the downside, there is a tremendous opportunity for potential investors to make money in real estate, even in a down market.
Before I go into details, let me first say that every market will have it's own opportunities and challenges, so while these ideas have worked in my area (Philadelphia), they may not work in every market.
The more important thing that I suggest to anyone that is interested in getting involved in real estate is to know your market and the neighborhoods in your area. Buying a house one block outside of the up and coming market could literally cost you thousands of dollars. While doing your research, get to know the real estate agents in your area. By simply knowing the agents in your area can mean the difference between making money and losing money by getting the inside track on properties that are coming up for sale before they are listed.
Regardless of what anyone says, the best way to break into the real estate market is through rental properties. Buying a couple of rental properties means steady income, even in a down economy, and after a couple of years gives you equity to use towards other properties. That being said, not every rental property is the same. Again, do some research. An area such as the Manayunk section of Philadelphia is a great place to buy a rental property because it is predominately younger people that are just coming out of college, with a steady income. They don't have the capital built up to buy their own place yet, but yet they have a steady job and you are more likely to get paid. In addition to the rental income, multi-unit rental properties in a good area tend to appreciate even in a down market, because they have residual income coming in. Long term tenants means reliable revenue.
If you don't want the responsibility of managing rental properties, there are still plenty of opportunities out there to make money off the real estate market. The biggest of those opportunities being the foreclosure market. Unfortunately, in the current state of the market, there are a lot of home owners that simply can't afford their mortgage payment anymore due to balloon payments or adjustable arms. Rather than going to foreclosure and creating a credit nightmare, in most cases homeowners will let an investor step in and take over the mortgage. In this case, you have a guaranteed rentor and due to the equity that most likely been built up in the house, you can get a lower monthly payment than the current home owner.
If foreclosure properties are not what you are looking for, you can still get some deals to flip a house. The key to making money in a buyer market is cash. If you have the cash in hand, you can find a house in the most desirable neighborhoods that will need only cosmetic changes to improve the value of the house. This requires access to the money, connections in real estate, and the ability to budget a project and stick to it.
So while property values are at an all time low, there are still plenty of ways to make money in real estate during a down market. For more information on how to break into the real estate market, feel free to contact me.
by Jason Delmar
Everyone is aware of the dramatic changes that have occurred in the national real estate market over the past year or two years. Prior to that, when property values were on a continuous increase, it was easy to buy a house, make some simple improvements, and make a lot of money. This even spawned the rash of home improvement shows and house flipping shows that falsely showed novice real estate flippers making $100,000 - $150,000 on a property in 6-8 weeks. Even in a strong market, this is the exception rather than the norm. In a slow economy, even the most experienced house flippers are having a hard time making a profit off of flipping houses. Now that you have heard the downside, there is a tremendous opportunity for potential investors to make money in real estate, even in a down market.
Before I go into details, let me first say that every market will have it's own opportunities and challenges, so while these ideas have worked in my area (Philadelphia), they may not work in every market.
The more important thing that I suggest to anyone that is interested in getting involved in real estate is to know your market and the neighborhoods in your area. Buying a house one block outside of the up and coming market could literally cost you thousands of dollars. While doing your research, get to know the real estate agents in your area. By simply knowing the agents in your area can mean the difference between making money and losing money by getting the inside track on properties that are coming up for sale before they are listed.
Regardless of what anyone says, the best way to break into the real estate market is through rental properties. Buying a couple of rental properties means steady income, even in a down economy, and after a couple of years gives you equity to use towards other properties. That being said, not every rental property is the same. Again, do some research. An area such as the Manayunk section of Philadelphia is a great place to buy a rental property because it is predominately younger people that are just coming out of college, with a steady income. They don't have the capital built up to buy their own place yet, but yet they have a steady job and you are more likely to get paid. In addition to the rental income, multi-unit rental properties in a good area tend to appreciate even in a down market, because they have residual income coming in. Long term tenants means reliable revenue.
If you don't want the responsibility of managing rental properties, there are still plenty of opportunities out there to make money off the real estate market. The biggest of those opportunities being the foreclosure market. Unfortunately, in the current state of the market, there are a lot of home owners that simply can't afford their mortgage payment anymore due to balloon payments or adjustable arms. Rather than going to foreclosure and creating a credit nightmare, in most cases homeowners will let an investor step in and take over the mortgage. In this case, you have a guaranteed rentor and due to the equity that most likely been built up in the house, you can get a lower monthly payment than the current home owner.
If foreclosure properties are not what you are looking for, you can still get some deals to flip a house. The key to making money in a buyer market is cash. If you have the cash in hand, you can find a house in the most desirable neighborhoods that will need only cosmetic changes to improve the value of the house. This requires access to the money, connections in real estate, and the ability to budget a project and stick to it.
So while property values are at an all time low, there are still plenty of ways to make money in real estate during a down market. For more information on how to break into the real estate market, feel free to contact me.
Huntsville real estate
Huntsville real estate
by Jone Player
Huntsville Alabama is continuously being rewarded a variety of honors, from the hottest place for entrepreneurs to relocate to, to the most business-centered city in the Southeast U.S., ultimately Huntsville AL is the place to be. Relocating to Huntsville has never been easier. With a large variety of Huntsville homes on the market, finding a place that suits your individual needs doesn't have to be a daunting task. A Huntsville real estate professional has all the answers you require.
When it comes to Huntsville real estate, whether you're looking for a quiet town home on the edge of town, a more sophisticated condo or investment property, or perhaps a ranch or colonial to raise a family at, Huntsville real estate includes a variety of offerings for a variety of people. This diversity makes living here such an exciting experience.
Huntsville celebrates the Big Spring Jam at the end of September each year. The downtown area becomes a central point for Huntsville residents of all ages. Living in a community that combines Southern hospitality with a welcoming tone makes choosing a place to live even easier. Looking for Huntsville real estate can be an exciting experience. With the large variety of nearly 6,000+ available units on the market, finding the home of your dreams is a feasible task!
Whether you are someone that enjoys the outdoors (Huntsville has a variety of public parks, golf courses, municipal pools & more), or someone who enjoys browsing indoor establishments such as museums (Huntsville has a large variety of these too), Huntsville Alabama is a great place to live for someone single, married, with a family or without!
The town's distinct districts offer a variety of Huntsville real estate offerings. If you're looking for a Queen Anne-inspired colonial or a simple townhouse, whatever it is, a professional realtor can provide more details and a variety of places for you to browse. Ranch-styled homes as well as Tudor-inspired homes are also available! Allow your imagination to soar, Huntsville real estate has something for everyone.
Huntsville also offers a variety of investment property areas that are tailor to sell now! Businesses also thrive in this area, with several Fortune 500 companies and the town serving as a center for manufacturing, service and defense industries, Huntsville real estate is on fire. Come join the fun!
by Jone Player
Huntsville Alabama is continuously being rewarded a variety of honors, from the hottest place for entrepreneurs to relocate to, to the most business-centered city in the Southeast U.S., ultimately Huntsville AL is the place to be. Relocating to Huntsville has never been easier. With a large variety of Huntsville homes on the market, finding a place that suits your individual needs doesn't have to be a daunting task. A Huntsville real estate professional has all the answers you require.
When it comes to Huntsville real estate, whether you're looking for a quiet town home on the edge of town, a more sophisticated condo or investment property, or perhaps a ranch or colonial to raise a family at, Huntsville real estate includes a variety of offerings for a variety of people. This diversity makes living here such an exciting experience.
Huntsville celebrates the Big Spring Jam at the end of September each year. The downtown area becomes a central point for Huntsville residents of all ages. Living in a community that combines Southern hospitality with a welcoming tone makes choosing a place to live even easier. Looking for Huntsville real estate can be an exciting experience. With the large variety of nearly 6,000+ available units on the market, finding the home of your dreams is a feasible task!
Whether you are someone that enjoys the outdoors (Huntsville has a variety of public parks, golf courses, municipal pools & more), or someone who enjoys browsing indoor establishments such as museums (Huntsville has a large variety of these too), Huntsville Alabama is a great place to live for someone single, married, with a family or without!
The town's distinct districts offer a variety of Huntsville real estate offerings. If you're looking for a Queen Anne-inspired colonial or a simple townhouse, whatever it is, a professional realtor can provide more details and a variety of places for you to browse. Ranch-styled homes as well as Tudor-inspired homes are also available! Allow your imagination to soar, Huntsville real estate has something for everyone.
Huntsville also offers a variety of investment property areas that are tailor to sell now! Businesses also thrive in this area, with several Fortune 500 companies and the town serving as a center for manufacturing, service and defense industries, Huntsville real estate is on fire. Come join the fun!
Huntsville Alabama Real Estate
Huntsville Alabama Real Estate
by Jone Player
When choosing to browse the abundance of Huntsville Alabama real estate available, many eager home purchasers would like to see what's around town. Ultimately, what services, attractions and offerings does Huntsville Alabama have for their specific needs?
Huntsville AL is most famous for the Alabama Space & Rocket Center. With the Saturn V rocker, the center is the most popular tourist attraction in the entire State. If you have children, the space camp will offer them something exciting to do each summer. If you're single or childless, visiting the rocket is still an exciting experience especially for a new resident to Huntsville.
Huntsville includes three historic districts. If these type of architecture interests you, browsing for Huntsville homes in the Twickenham Historical District may work best for you. Huntsville Alabama real estate in this area includes more Greek Revival styles brought to the area by George Steele. The Five Points Historical Districts and Old Town Historical District both offers a large offering of styles including Queen Anne and Federal in the Huntsville Alabama real estate available in that area of town.
Finding an appropriate place to live is a browsing experience much like that of a museum visit. Huntsville AL has a variety of museums such as the Clay House Museum, Huntsville Museum of Art, Alabama Constitution Village and Burritt Museum and Park. Whatever your interests, Huntsville Alabama has a variety of experiences available for any type of potential resident to be.
When looking for a home, many like a location near local parks. Huntsville Alabama has many public parks including the Monte Sano State Park, which has bike & hiking trails as well as camping abilities. Huntsville Alabama real estate surrounding the area often sell for higher prices because of the added feature of being near this beautiful piece of nature. The Huntsville Botanical Garden, another natural feature in town, offers an exquisite collection of flowers as well as several walking paths. Get out and explore Huntsville!
A professional Huntsville Alabama real estate agent can provide more details on specifics needs you have requiring Huntsville Alabama real estate. Whether looking for a condo, investment property, a town home, a ranch, or a colonial, the current offerings in Huntsville houses something that will fit you and your loved ones need regarding your new Huntsville Alabama real estate purchase.
by Jone Player
When choosing to browse the abundance of Huntsville Alabama real estate available, many eager home purchasers would like to see what's around town. Ultimately, what services, attractions and offerings does Huntsville Alabama have for their specific needs?
Huntsville AL is most famous for the Alabama Space & Rocket Center. With the Saturn V rocker, the center is the most popular tourist attraction in the entire State. If you have children, the space camp will offer them something exciting to do each summer. If you're single or childless, visiting the rocket is still an exciting experience especially for a new resident to Huntsville.
Huntsville includes three historic districts. If these type of architecture interests you, browsing for Huntsville homes in the Twickenham Historical District may work best for you. Huntsville Alabama real estate in this area includes more Greek Revival styles brought to the area by George Steele. The Five Points Historical Districts and Old Town Historical District both offers a large offering of styles including Queen Anne and Federal in the Huntsville Alabama real estate available in that area of town.
Finding an appropriate place to live is a browsing experience much like that of a museum visit. Huntsville AL has a variety of museums such as the Clay House Museum, Huntsville Museum of Art, Alabama Constitution Village and Burritt Museum and Park. Whatever your interests, Huntsville Alabama has a variety of experiences available for any type of potential resident to be.
When looking for a home, many like a location near local parks. Huntsville Alabama has many public parks including the Monte Sano State Park, which has bike & hiking trails as well as camping abilities. Huntsville Alabama real estate surrounding the area often sell for higher prices because of the added feature of being near this beautiful piece of nature. The Huntsville Botanical Garden, another natural feature in town, offers an exquisite collection of flowers as well as several walking paths. Get out and explore Huntsville!
A professional Huntsville Alabama real estate agent can provide more details on specifics needs you have requiring Huntsville Alabama real estate. Whether looking for a condo, investment property, a town home, a ranch, or a colonial, the current offerings in Huntsville houses something that will fit you and your loved ones need regarding your new Huntsville Alabama real estate purchase.
Balancing Finance And Payables In Real Estate
Balancing Finance And Payables In Real Estate
by Jon Caldwell
The foreclosure crisis has rippled all from first to last the wider markets and is hitting big financial losses on mortgage-backed securities and institutions with other concerned assets. These delays have led the institutions to hold back and cut down the lending process, since it threatens to move forward the broader economy into depression. The long-term economic outlook on the housing market is a long way to go since new criteria and guidelines is needed to be set. With this, many homeowners are said to have anticipated to failure to pay on their first mortgages the coming years which will in return, they might lose their property.
In the US, Senate Democrats and Republicans have agreed to negotiate on a housing bill that would ease gridlocked partisan brawl and potentially letting for an insertion of federal dollars into the upset and troubled housing industry. The lawmakers is set to conclude this agreement and is yet to be compromised and discussed. The proposal will stable the mortgage market to help increase and improve the housing project. In particular, this bill will help the home builder to pay their taxes easier. In the long run, the temporary tax credit will encourage people to buy homes and later on, builders can offer the houses in scheme payments.
Yet after the agreement is signed and unforeseen events are met, there are many particular and information that needs to be taken care of prior to calling your house a home. These days, there are agencies that can help you with the details out of your hands and everything will run smoothly as possible. Services such as mortgage financing, home insurance, title insurance, and other services with regard to home buying, can be handled by these agencies. They can also get you a mortgage approval as long as all documents are presented in accordance. On top of this, these agencies can make things easier the moving-in process.
Internet, thus, plays a big factor in ones lives. That's why home buyers all the time ask if their Realtor has a website or is there any Realtor Associations that can be found in the web. Through web marketing, the agent can get more inquiries and eventually will lead to more clients. Homebuyers would like to see their realtors active in the real estate industry aside from the rating system that his clients give. Sometimes the ratings are only a small criterion when choosing a reliable agent. What matters is having a good reputation, his works, and how long he has been in the real estate business.
Home inspectors usually operate as a self-supporting contractors. As a result, it's hard for them to give a history of consumer criticisms to a new client. There are sites like http://Yellowpages.com that contains ratings. Though some clients don't bother to rate the inspector's services. Ratings depend on the are that was covered. An inspector can receive a five star or more especially if his clients like him or are satisfied with his works. There are clients that even recommend his services to his families and friends. And since not all contractors have ratings, this has a big effect on their business.
by Jon Caldwell
The foreclosure crisis has rippled all from first to last the wider markets and is hitting big financial losses on mortgage-backed securities and institutions with other concerned assets. These delays have led the institutions to hold back and cut down the lending process, since it threatens to move forward the broader economy into depression. The long-term economic outlook on the housing market is a long way to go since new criteria and guidelines is needed to be set. With this, many homeowners are said to have anticipated to failure to pay on their first mortgages the coming years which will in return, they might lose their property.
In the US, Senate Democrats and Republicans have agreed to negotiate on a housing bill that would ease gridlocked partisan brawl and potentially letting for an insertion of federal dollars into the upset and troubled housing industry. The lawmakers is set to conclude this agreement and is yet to be compromised and discussed. The proposal will stable the mortgage market to help increase and improve the housing project. In particular, this bill will help the home builder to pay their taxes easier. In the long run, the temporary tax credit will encourage people to buy homes and later on, builders can offer the houses in scheme payments.
Yet after the agreement is signed and unforeseen events are met, there are many particular and information that needs to be taken care of prior to calling your house a home. These days, there are agencies that can help you with the details out of your hands and everything will run smoothly as possible. Services such as mortgage financing, home insurance, title insurance, and other services with regard to home buying, can be handled by these agencies. They can also get you a mortgage approval as long as all documents are presented in accordance. On top of this, these agencies can make things easier the moving-in process.
Internet, thus, plays a big factor in ones lives. That's why home buyers all the time ask if their Realtor has a website or is there any Realtor Associations that can be found in the web. Through web marketing, the agent can get more inquiries and eventually will lead to more clients. Homebuyers would like to see their realtors active in the real estate industry aside from the rating system that his clients give. Sometimes the ratings are only a small criterion when choosing a reliable agent. What matters is having a good reputation, his works, and how long he has been in the real estate business.
Home inspectors usually operate as a self-supporting contractors. As a result, it's hard for them to give a history of consumer criticisms to a new client. There are sites like http://Yellowpages.com that contains ratings. Though some clients don't bother to rate the inspector's services. Ratings depend on the are that was covered. An inspector can receive a five star or more especially if his clients like him or are satisfied with his works. There are clients that even recommend his services to his families and friends. And since not all contractors have ratings, this has a big effect on their business.
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