Real Estate Investing: Do Your Homework Before You Start
Real estate investing is easy. That's what all those tv reality shows would have you believe. But in reality, real estate investing is risky business. And like most investments, the riskier, the higher the return. It's true that the returns on investment are incredible for the savvy real estate investor. If you do your homework properly, a little cash and some sweat will buy you a property that can be flipped for a healthy profit. However, there are many that have lost lots of money in real estate investments because they were not careful in planning stage. There is a very steep learning curve for those starting in real estate investing. Here are some things to keep in mind before you get started on your journey. The first investment you should make is that of time. Take your time to determine what are your financial goals and the time frame in which you want to achieve them. Remember to be realistic. With the current real estate market, chances are you will not become a millionaire in six flips. Today, more than ever before, the beginner investor can get burned and lose a lot of money in the process. Just like with any business venture, you should write down a business plan. Determine how much time and financial commitment you are willing to give to this business. Make a five year plan with detailed goals, particularly for the first year. Review this plan after six months and again two years later. This will help you stay on track. Your financial commitment is a crucial element of that business plan. Estimate how much money you have to invest. This amount will differ if your first investment is your primary residence or a flip property. If you only have limited capital, say $10,000, then your best option may be to buy a home for yourself to renovate and sell within a year or two or to buy a quick flip ‘fixer upper'. In some places, you can get financing for a second property with no money down as long as you have good credit and money for the closing costs. This is a risky proposition because the lending costs will be high. You would have to buy and sell quickly, and the real estate market would need to be in an upward climb. You should be mindful of the legal and tax consequences of this type of financing for your investment. The alternative would be a regular mortgage or private financing where the loan would cover the cost of the purchase and maybe some of the renovations. Your homework on the property and the market will be extremely important because you stand to lose big. You will be legally responsible for the whole amount of the loan if something goes wrong. Another important aspect of your business plan will be to determine what level of risk you are comfortable with. Be honest with yourself and write down how much risk you are realistically willing to take. If you are normally very careful with your investment and try to always protect your capital, don't try to get into high risk real estate investments. Another important aspect of your plan will be to decide how much time you are willing to commit to this. Will you be doing the renovations yourself or supervising contractors? Now would be a good time to start establishing relationships with lenders and contractors. Learn about the market in the area you are looking to invest. Familiarize yourself with the contracts, insurance, tax impacts and legal requirements of real estate investing. With some careful planning and homework, you too can generate a healthy additional income from real estate investing. You may even be able to make it a full time job. Real estate investment is one of the highest paying investment there is. Look at it as an adventure. Be willing to learn and make mistakes and you too can make money investing in real estate.
วันศุกร์ที่ 20 มีนาคม พ.ศ. 2552
Tips For Writing a Short Sale Hardship Letter to Save Your Home From Foreclosure
Tips For Writing a Short Sale Hardship Letter to Save Your Home From Foreclosure
A short sale hardship letter is perhaps the most important letter any homeowner will ever write. The letter of hardship allows borrowers to present the circumstances that caused them to become delinquent on their mortgage note. When writing a short sale hardship letter, it is important to remember the letter will be read by a human being. Banks employ loss mitigators to work as mediators between borrowers and lenders. Although loss mitigators do not make the decision to approve or disapprove a short sale request, they do have considerable input. The words and emotions expressed within the hardship letter can sway the loss mitigator to help borrowers obtain short sale approval. This is not to say homeowners should fabricate misfortunes. In fact, people who lie in order to obtain short sale authorization could be charged with a criminal offense. It's always a good idea to draft an outline of the letter of hardship. Most people find they need to write this letter several times before obtaining their final version. Start by creating a timeline of the events which led to your inability to pay the mortgage. Then, write out a detailed description of these events and how they affected you. Keep in mind that banks don't like losing money. Many people believe a short sale means they can sell their home for any price they want and write-off the remainder of their mortgage balance. Most banks only allow borrowers to list their real estate at around 10-percent under market value and require the sale be facilitated through a licensed realtor. The following is a sample short sale hardship letter. While each lender requires their own format, this will give you an idea of what banks are looking for. Dear Lender, We are contacting you today to request short sale approval for our property located at 1212 Sunny Lane. Unfortunately, we have fallen on hard times and are no longer able to meet our mortgage obligation. We purchased our home in March 2006. At the time, I was employed as a construction supervisor and my wife operated a licensed daycare center from our home. In April 2007, I was involved in a car accident and had to undergo multiple surgeries. I was unable to return to work on a full-time basis for over a year. In August 2007, my wife was diagnosed with breast cancer. Due to her treatments and hospitalization, she had to close the daycare. This caused us to lose over $2500 in income each month. In December 2007, the company I worked for went out of business. Not only did we lose my income, we also lost our health insurance. We were unable to find an insurance provider who would pay for my wife's treatments because they were considered pre-existing. Although we were able to obtain some financial assistance through the hospital, we had depleted our savings account by June 2008. My wife has recently been able to reopen the daycare, but at this time she is only able to care for three children. Currently, she brings in $900 per month. My unemployment benefits run out in June of this year. I have yet to find fulltime employment, but work odd jobs when I am able to find them. Our combined monthly income is around $1700. Considering our house payment is $1450 per month, I believe you can see why we are unable to cure our arrearages and become current. We sold my wife's car and my motorcycle so we could continue paying for medical treatments. We have enrolled in budget billing through our utility company and eliminated extra features on our phone and cable. We shop at discount grocery stores and utilize coupons whenever possible. We do not go out for dinner, go to movies, or engage in frivolous spending habits. However, we simply do not earn enough to make ends meet. Obtaining short sale approval would eliminate a tremendous amount of stress and allow my wife to focus on improving her health. We greatly appreciate the opportunity to participate in a short sale and thank you for taking time to review our situation. Sincerely, John and Jane Doe If you are delinquent on your mortgage and feel a short sale would benefit you, you must contact your lender to discuss this option. Not all banks engage in short sales; nor are they required by law to authorize this type of real transaction. Therefore, it is crucial to be respectful and not lose your temper when talking to the loss mitigator handling your case. Once a short sale is authorized, you must work closely with your lender and provide requested documents in a timely fashion. Even more important, you must learn how to write a hardship letter that is compelling, factual and concise. Doing so can greatly increase your chances of success and potentially free you from your mortgage loan debt.
A short sale hardship letter is perhaps the most important letter any homeowner will ever write. The letter of hardship allows borrowers to present the circumstances that caused them to become delinquent on their mortgage note. When writing a short sale hardship letter, it is important to remember the letter will be read by a human being. Banks employ loss mitigators to work as mediators between borrowers and lenders. Although loss mitigators do not make the decision to approve or disapprove a short sale request, they do have considerable input. The words and emotions expressed within the hardship letter can sway the loss mitigator to help borrowers obtain short sale approval. This is not to say homeowners should fabricate misfortunes. In fact, people who lie in order to obtain short sale authorization could be charged with a criminal offense. It's always a good idea to draft an outline of the letter of hardship. Most people find they need to write this letter several times before obtaining their final version. Start by creating a timeline of the events which led to your inability to pay the mortgage. Then, write out a detailed description of these events and how they affected you. Keep in mind that banks don't like losing money. Many people believe a short sale means they can sell their home for any price they want and write-off the remainder of their mortgage balance. Most banks only allow borrowers to list their real estate at around 10-percent under market value and require the sale be facilitated through a licensed realtor. The following is a sample short sale hardship letter. While each lender requires their own format, this will give you an idea of what banks are looking for. Dear Lender, We are contacting you today to request short sale approval for our property located at 1212 Sunny Lane. Unfortunately, we have fallen on hard times and are no longer able to meet our mortgage obligation. We purchased our home in March 2006. At the time, I was employed as a construction supervisor and my wife operated a licensed daycare center from our home. In April 2007, I was involved in a car accident and had to undergo multiple surgeries. I was unable to return to work on a full-time basis for over a year. In August 2007, my wife was diagnosed with breast cancer. Due to her treatments and hospitalization, she had to close the daycare. This caused us to lose over $2500 in income each month. In December 2007, the company I worked for went out of business. Not only did we lose my income, we also lost our health insurance. We were unable to find an insurance provider who would pay for my wife's treatments because they were considered pre-existing. Although we were able to obtain some financial assistance through the hospital, we had depleted our savings account by June 2008. My wife has recently been able to reopen the daycare, but at this time she is only able to care for three children. Currently, she brings in $900 per month. My unemployment benefits run out in June of this year. I have yet to find fulltime employment, but work odd jobs when I am able to find them. Our combined monthly income is around $1700. Considering our house payment is $1450 per month, I believe you can see why we are unable to cure our arrearages and become current. We sold my wife's car and my motorcycle so we could continue paying for medical treatments. We have enrolled in budget billing through our utility company and eliminated extra features on our phone and cable. We shop at discount grocery stores and utilize coupons whenever possible. We do not go out for dinner, go to movies, or engage in frivolous spending habits. However, we simply do not earn enough to make ends meet. Obtaining short sale approval would eliminate a tremendous amount of stress and allow my wife to focus on improving her health. We greatly appreciate the opportunity to participate in a short sale and thank you for taking time to review our situation. Sincerely, John and Jane Doe If you are delinquent on your mortgage and feel a short sale would benefit you, you must contact your lender to discuss this option. Not all banks engage in short sales; nor are they required by law to authorize this type of real transaction. Therefore, it is crucial to be respectful and not lose your temper when talking to the loss mitigator handling your case. Once a short sale is authorized, you must work closely with your lender and provide requested documents in a timely fashion. Even more important, you must learn how to write a hardship letter that is compelling, factual and concise. Doing so can greatly increase your chances of success and potentially free you from your mortgage loan debt.
What is the MLS Anyway?
What is the MLS Anyway?
You may have heard your Realtor use MLS in some of their real estate jargon. What exactly is an MLS? MLS is an acronym for multiple listing service or system. Wikipedia describes it as a suite of services that (1) enables brokers to establish contractual offers of compensation (among brokers); (2) facilitates cooperation with other broker participants; (3) accumulates and disseminates information to enable appraisals; (4) is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public. In layman's terms the MLS is a central database that participating real estate brokers and agents use to share information about properties. Realtors primarily use it in their day to day operation to find properties for buyers and to help sellers arrive at a value for their properties based on sold and unsold like kind properties. The MLS system is also the most important marketing tool that a Realtor or Broker can have. Participating members of the multiple listing system list their inventory of properties for sale in the database as a way to market them to other members who may have a potential buyer. Realtors working with buyers can sell properties listed by other Realtors in return for compensation. Typically the commission is split by the listing agent and the selling agent. In other words if a seller is paying a 6% commission the listing agent will pay 3% to a Realtor who represents the buyer who purchases his listing. The majority of closed transactions do involve two Realtors. The United States real estate system allows buyers to confidently work with one Realtor that is a participating member of an MLS system since that agent can access virtually all properties for sale. This is different from Europe where there real estate agents typically do not use a central database known as an MLS. There is a misconception by some of the general public that they need to hire multiple Realtors to view all of the properties for sale in the marketplace. You really just need to hire one good agent to represent you in a purchase. From a seller's perspective it is wise to choose a Realtor that can list your home in the MLS database. This is a Realtor's most powerful marketing tool. When your agent enters a property in the MLS database it becomes available to thousands of Realtors and their potential buyers. In most real estate markets the MLS contains virtually all of the properties for sale. Other important facts about the MLS: • There is no national single MLS. • Local Realtor Associations oversee the MLS system. • MLS is trademarked term owned by Major League Soccer • Most MLS's do not have an access for the general public • IDX is known as internet data exchange. This allows a portion of MLS data to be displayed on Realtor websites. When you see "Search MLS" on a Realtors website most of the time you are not accessing the real MLS system. • Realtors have to pay money to join a local Realtor association in order to access the MLS system.
You may have heard your Realtor use MLS in some of their real estate jargon. What exactly is an MLS? MLS is an acronym for multiple listing service or system. Wikipedia describes it as a suite of services that (1) enables brokers to establish contractual offers of compensation (among brokers); (2) facilitates cooperation with other broker participants; (3) accumulates and disseminates information to enable appraisals; (4) is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public. In layman's terms the MLS is a central database that participating real estate brokers and agents use to share information about properties. Realtors primarily use it in their day to day operation to find properties for buyers and to help sellers arrive at a value for their properties based on sold and unsold like kind properties. The MLS system is also the most important marketing tool that a Realtor or Broker can have. Participating members of the multiple listing system list their inventory of properties for sale in the database as a way to market them to other members who may have a potential buyer. Realtors working with buyers can sell properties listed by other Realtors in return for compensation. Typically the commission is split by the listing agent and the selling agent. In other words if a seller is paying a 6% commission the listing agent will pay 3% to a Realtor who represents the buyer who purchases his listing. The majority of closed transactions do involve two Realtors. The United States real estate system allows buyers to confidently work with one Realtor that is a participating member of an MLS system since that agent can access virtually all properties for sale. This is different from Europe where there real estate agents typically do not use a central database known as an MLS. There is a misconception by some of the general public that they need to hire multiple Realtors to view all of the properties for sale in the marketplace. You really just need to hire one good agent to represent you in a purchase. From a seller's perspective it is wise to choose a Realtor that can list your home in the MLS database. This is a Realtor's most powerful marketing tool. When your agent enters a property in the MLS database it becomes available to thousands of Realtors and their potential buyers. In most real estate markets the MLS contains virtually all of the properties for sale. Other important facts about the MLS: • There is no national single MLS. • Local Realtor Associations oversee the MLS system. • MLS is trademarked term owned by Major League Soccer • Most MLS's do not have an access for the general public • IDX is known as internet data exchange. This allows a portion of MLS data to be displayed on Realtor websites. When you see "Search MLS" on a Realtors website most of the time you are not accessing the real MLS system. • Realtors have to pay money to join a local Realtor association in order to access the MLS system.
Safety at the Summer Vacation Beach Cottage
Safety at the Summer Vacation Beach Cottage
At the summertime vacation beach cottage that you may well find that you are both using the combination and combinations of both electrical power and natural gas or propane as well , both at the same time at your summertime vacation retreat or side by side. Avoid injuries to yourself, your family and your cottage or summertime camp recreational guests. Use electrical, natural gas, propane gas power and heat all together safely. Avoid injures. Play it safe. While it is more than true that we all have grown and gotten more than used to the benefits and convenience of electrical power and natural gas , we often and rarely take the time to find out if we are using them safely. For example – have you ever used a metal fork to remove bread or a bun from an electric toaster? Have you ever turned on the garbage disposal (garborator), without fully drying your hands – with a dry towel or the like? It's famous in the TV shows that people are too lazy to take the time to safely pull out an electrical cord properly by grasping the electrical power plug and rather take the easy way out and simply yank on the cord, some distance from the electrical plug itself. By carelessly doing the above you may well have put yourself, your family or guests at menace and in peril if the above were done in the presence of natural gas or propane at the beach or lake cottage. Both natural gas and more commonly propane may well be a convenience at the lake cottage. Beach cottages are now often luxury retreats – complete with hot water (often from natural gas or propane hot water tank or tanks). While these appliances are feverishly working away to heat your hot water – whether for standard hot water for dishes or the bath , or more commonly now than before for luxury items such as hot tubs or gas barbecues – they may be silently or not so silently be spewing out natural gas or propane as well . A gas stove is more obvious as a potential site where a simple electrical spark from careless may serve as an ignition source and start. It's not as obvious with the others – be it a gas water tank or barbecue but the results are all the same. What to do? First of all play it safe electrically. Work best to prevent needless electrical sparks which could serve as ignition sources for natural gas and propane. Next never store flammable as well as potentially flammable materials around natural gas or propane furnaces or hot water tanks and devices. Lastly in addition to standard routine inspections by either the electrical , gas or power utility trained people and personnel one afterthought to think of are to provide for carbon monoxide detectors as well as yearly battery checks and replacements. Carbon monoxide poisoning might not be such a consideration in a breezy summer vacation cottage. Still the results of spewed concentrations of carbon monoxide gas are all the same – whether in a more airtight sealed city home or at the summer vacation property.
At the summertime vacation beach cottage that you may well find that you are both using the combination and combinations of both electrical power and natural gas or propane as well , both at the same time at your summertime vacation retreat or side by side. Avoid injuries to yourself, your family and your cottage or summertime camp recreational guests. Use electrical, natural gas, propane gas power and heat all together safely. Avoid injures. Play it safe. While it is more than true that we all have grown and gotten more than used to the benefits and convenience of electrical power and natural gas , we often and rarely take the time to find out if we are using them safely. For example – have you ever used a metal fork to remove bread or a bun from an electric toaster? Have you ever turned on the garbage disposal (garborator), without fully drying your hands – with a dry towel or the like? It's famous in the TV shows that people are too lazy to take the time to safely pull out an electrical cord properly by grasping the electrical power plug and rather take the easy way out and simply yank on the cord, some distance from the electrical plug itself. By carelessly doing the above you may well have put yourself, your family or guests at menace and in peril if the above were done in the presence of natural gas or propane at the beach or lake cottage. Both natural gas and more commonly propane may well be a convenience at the lake cottage. Beach cottages are now often luxury retreats – complete with hot water (often from natural gas or propane hot water tank or tanks). While these appliances are feverishly working away to heat your hot water – whether for standard hot water for dishes or the bath , or more commonly now than before for luxury items such as hot tubs or gas barbecues – they may be silently or not so silently be spewing out natural gas or propane as well . A gas stove is more obvious as a potential site where a simple electrical spark from careless may serve as an ignition source and start. It's not as obvious with the others – be it a gas water tank or barbecue but the results are all the same. What to do? First of all play it safe electrically. Work best to prevent needless electrical sparks which could serve as ignition sources for natural gas and propane. Next never store flammable as well as potentially flammable materials around natural gas or propane furnaces or hot water tanks and devices. Lastly in addition to standard routine inspections by either the electrical , gas or power utility trained people and personnel one afterthought to think of are to provide for carbon monoxide detectors as well as yearly battery checks and replacements. Carbon monoxide poisoning might not be such a consideration in a breezy summer vacation cottage. Still the results of spewed concentrations of carbon monoxide gas are all the same – whether in a more airtight sealed city home or at the summer vacation property.
Living The Good Life In Cary NC
Living The Good Life In Cary NC
Enjoy Life in Cary, NC Are you looking for a great place to live within North Carolina's famous Research Triangle area? If so, you might want to consider purchasing a Cary, NC home. People from around the country have been showing an increased interest in Cary, NC real estate - and for good reason! Ranked by CNN Money as the 16th "Best Place to Live" in 2008, this suburb of Raleigh has so much to offer to its residents. Here's a quick summary of just a few reasons why you might want to consider taking a closer look at some of the available Cary, NC homes for sale. Get Your Education in Cary, NC With 16 different universities, colleges, professional schools, junior colleges and technical institutes within a 30-mile radius from Cary, it is easy to understand why nearly 85% of Cary's residents have completed some college education and two-thirds of its residents have earned a college degree. This emphasis on higher education has also helped Cary's residents achieve a median family income of $104,858 per year - a figure that is well above national averages. Favorably, though, the cost of a purchasing and maintaining a Cary, NC home is still relatively low, with the median home price being a little more than $260,000 and property taxes in 2007 averaging only $2,528 per year. Stay Safe in Cary, NC Many people are also interested in Cary, NC real estate because of the relatively low crime rates when compared to other municipalities of the same size. In 2007, the Morgan Quitno Safest City Award council (now CQ Press) named Cary NC as the fourth safest city in the nation when compared to other cities of similar size. More recently, though, in 2008, Cary moved up in the rankings and is now considered to be the third-safest city in the country with populations between 100,000 and 499,999. The Town of Cary maintains a proactive community and works hard to ensure that its residents are in a safe environment. Things to Do in Cary, NC For those who enjoy maintaining an active lifestyle, there is no better place to live than Cary, NC. The Parks and Recreation Department of Cary preserved over 30 miles of greenways and trails that intertwine throughout the Town's park-like setting, maintain over 20 public parks, and offer residents a variety of year-round programs at one of its eight community centers. Opportunities for outdoor activities don't get any better than Cary, North Carolina. Tucked between Cary and surrounding cities lies an oasis of tranquility and adventure - William B. Umstead State Park. This 5,579-acre park offers residents a multitude of activities to partake in, such as non-motorized boat rentals, hiking, cycling, horseback riding, camping, fishing, and educational programs. Centrally located in the heart of Cary, residents can also enjoy a scaled-down version of Umstead State Park by visiting Fred G. Bond Metro Park, a 310-acre retreat. Commonly referred to as Bond Park or Bond Lake, residents can enjoy the park's lake, boathouse, hiking trails, playgrounds, athletic fields and even a challenge ropes course. Skating of every variety is also readily available to residents of Cary. For example, the Cary Ice House offers a year-round ice rink where residents can enjoy open skating, figure skating, or a game of hockey. If you're looking for something more extreme, though, then look no further than the town's 12,000 square foot Sk-8 Cary Skate Park. Designed for in-line skates, skateboards, and BMX bikes, this street course offers residents quarter-pipes, half-pipes, banks, grind ledges and rails to enjoy on a year-round basis. For those who like to attend sporting events, Cary's WakeMed Soccer Park is home to North Carolina's professional soccer team, the Carolina RailHawks. Swimming competitions and other special events are also held at the Triangle Aquatic Center (TAC) on a regular basis. Capable of seating 1,000 spectators, the facility is the largest public aquatic center in North Carolina. In addition to the competition pool, two other pools are available for public use. Cary is also home to numerous cultural activities and festivities, many of which take place at the Koka Booth Amphitheatre at Regency Park or at the Page-Walker Arts & History Center. With so much to see and do in the town, it's no wonder why so many people are interested in owning a Cary, NC home! If you would like to learn more about life in Cary NC, what Cary NC has to offer, or about Cary NC real estate, please contact us.
Enjoy Life in Cary, NC Are you looking for a great place to live within North Carolina's famous Research Triangle area? If so, you might want to consider purchasing a Cary, NC home. People from around the country have been showing an increased interest in Cary, NC real estate - and for good reason! Ranked by CNN Money as the 16th "Best Place to Live" in 2008, this suburb of Raleigh has so much to offer to its residents. Here's a quick summary of just a few reasons why you might want to consider taking a closer look at some of the available Cary, NC homes for sale. Get Your Education in Cary, NC With 16 different universities, colleges, professional schools, junior colleges and technical institutes within a 30-mile radius from Cary, it is easy to understand why nearly 85% of Cary's residents have completed some college education and two-thirds of its residents have earned a college degree. This emphasis on higher education has also helped Cary's residents achieve a median family income of $104,858 per year - a figure that is well above national averages. Favorably, though, the cost of a purchasing and maintaining a Cary, NC home is still relatively low, with the median home price being a little more than $260,000 and property taxes in 2007 averaging only $2,528 per year. Stay Safe in Cary, NC Many people are also interested in Cary, NC real estate because of the relatively low crime rates when compared to other municipalities of the same size. In 2007, the Morgan Quitno Safest City Award council (now CQ Press) named Cary NC as the fourth safest city in the nation when compared to other cities of similar size. More recently, though, in 2008, Cary moved up in the rankings and is now considered to be the third-safest city in the country with populations between 100,000 and 499,999. The Town of Cary maintains a proactive community and works hard to ensure that its residents are in a safe environment. Things to Do in Cary, NC For those who enjoy maintaining an active lifestyle, there is no better place to live than Cary, NC. The Parks and Recreation Department of Cary preserved over 30 miles of greenways and trails that intertwine throughout the Town's park-like setting, maintain over 20 public parks, and offer residents a variety of year-round programs at one of its eight community centers. Opportunities for outdoor activities don't get any better than Cary, North Carolina. Tucked between Cary and surrounding cities lies an oasis of tranquility and adventure - William B. Umstead State Park. This 5,579-acre park offers residents a multitude of activities to partake in, such as non-motorized boat rentals, hiking, cycling, horseback riding, camping, fishing, and educational programs. Centrally located in the heart of Cary, residents can also enjoy a scaled-down version of Umstead State Park by visiting Fred G. Bond Metro Park, a 310-acre retreat. Commonly referred to as Bond Park or Bond Lake, residents can enjoy the park's lake, boathouse, hiking trails, playgrounds, athletic fields and even a challenge ropes course. Skating of every variety is also readily available to residents of Cary. For example, the Cary Ice House offers a year-round ice rink where residents can enjoy open skating, figure skating, or a game of hockey. If you're looking for something more extreme, though, then look no further than the town's 12,000 square foot Sk-8 Cary Skate Park. Designed for in-line skates, skateboards, and BMX bikes, this street course offers residents quarter-pipes, half-pipes, banks, grind ledges and rails to enjoy on a year-round basis. For those who like to attend sporting events, Cary's WakeMed Soccer Park is home to North Carolina's professional soccer team, the Carolina RailHawks. Swimming competitions and other special events are also held at the Triangle Aquatic Center (TAC) on a regular basis. Capable of seating 1,000 spectators, the facility is the largest public aquatic center in North Carolina. In addition to the competition pool, two other pools are available for public use. Cary is also home to numerous cultural activities and festivities, many of which take place at the Koka Booth Amphitheatre at Regency Park or at the Page-Walker Arts & History Center. With so much to see and do in the town, it's no wonder why so many people are interested in owning a Cary, NC home! If you would like to learn more about life in Cary NC, what Cary NC has to offer, or about Cary NC real estate, please contact us.
วันอังคารที่ 10 มีนาคม พ.ศ. 2552
Get big return from construction real estate
Get big return from construction real estate
The real estate business is undoubtedly vast. There are many options for an investor to invest in the real estate market. One of the most benefiting investing field is construction real estate. Construction real estate has grown to a big business assuring high returns to the investor. It is better to call construction real estate investor as an entrepreneur. He really does an entrepreneurship with so many clients and so many workers under him.
Construction real estate can be in residential apartments or flats, independent villas and houses, creating independent townships or constructing mammoth buildings for commercial purposes. Small scale investors can invest in construction real estate involving flats and villas. Large scale big investors only can take up townships and commercial constructions. Typically for any of such construction real estate, the business will be run by finance mostly funded by financial institutions and other companies. It is essential for the investor to have in good contact with banks and financial institution for the smooth running of construction business.
Construction real estate has many branches to follow up to make it a grand success. It starts really from identifying the property for the construction. Then it has to go through design of the construction and its approval. Followed to this approval from competent authorities the investor needs to manage the contractors, sub contractors and laborers. Once the construction begins, an integrated effort is required to identify potential customers and it is a great task for the management team to convince the customer the advantages of the properties available for sale. Construction real estate investor needs to be an enthusiast to oversee all the areas and to manage the total project in a faultless way. There are many important factors to be considered in each of the above steps. If you put maximum efforts to see that the progress is good, you can get the maximum benefit out of it.
The location of the construction real estate is of paramount importance to attract buyers for the apartments or flats constructed. The location should be in close proximity with all important facilities required for the smooth running of family life. The place should be easily accessible from major pathways and roads. It is very essential for an attractive real estate construction spot, to have good transport facilities and entertainment facilities. The region should be out of any criminal backgrounds and unnecessary tension among communities. There should be sufficient number of good educational institutions, medical institutions and shopping facilities. The area should be in close proximity with common places such as religious places, parks and restaurants. If the place of the real estate construction has all kinds of infrastructure, it will have great demands among buyers. While deciding upon investing in construction real estate, you have to make all out efforts to see that customer demand will be high for the project. A successful construction real estate depends on the way you approach the whole project. Be confident and move ahead with well planned designs, you can get big returns from construction real estate.
The real estate business is undoubtedly vast. There are many options for an investor to invest in the real estate market. One of the most benefiting investing field is construction real estate. Construction real estate has grown to a big business assuring high returns to the investor. It is better to call construction real estate investor as an entrepreneur. He really does an entrepreneurship with so many clients and so many workers under him.
Construction real estate can be in residential apartments or flats, independent villas and houses, creating independent townships or constructing mammoth buildings for commercial purposes. Small scale investors can invest in construction real estate involving flats and villas. Large scale big investors only can take up townships and commercial constructions. Typically for any of such construction real estate, the business will be run by finance mostly funded by financial institutions and other companies. It is essential for the investor to have in good contact with banks and financial institution for the smooth running of construction business.
Construction real estate has many branches to follow up to make it a grand success. It starts really from identifying the property for the construction. Then it has to go through design of the construction and its approval. Followed to this approval from competent authorities the investor needs to manage the contractors, sub contractors and laborers. Once the construction begins, an integrated effort is required to identify potential customers and it is a great task for the management team to convince the customer the advantages of the properties available for sale. Construction real estate investor needs to be an enthusiast to oversee all the areas and to manage the total project in a faultless way. There are many important factors to be considered in each of the above steps. If you put maximum efforts to see that the progress is good, you can get the maximum benefit out of it.
The location of the construction real estate is of paramount importance to attract buyers for the apartments or flats constructed. The location should be in close proximity with all important facilities required for the smooth running of family life. The place should be easily accessible from major pathways and roads. It is very essential for an attractive real estate construction spot, to have good transport facilities and entertainment facilities. The region should be out of any criminal backgrounds and unnecessary tension among communities. There should be sufficient number of good educational institutions, medical institutions and shopping facilities. The area should be in close proximity with common places such as religious places, parks and restaurants. If the place of the real estate construction has all kinds of infrastructure, it will have great demands among buyers. While deciding upon investing in construction real estate, you have to make all out efforts to see that customer demand will be high for the project. A successful construction real estate depends on the way you approach the whole project. Be confident and move ahead with well planned designs, you can get big returns from construction real estate.
How to sell property at best price
How to sell property at best price
Assume that your property is ready for sale. You have to sell property as early as possible. You would have put up it some time back in the market. There would be many inquiries about the property and rate. This is very common in the real estate business. It is essential to do some homework before publishing it for sale. You can sell property at a higher rate only if you know how to make known the advantages of the property among the potential customers.
Many real estate investors are out there looking for ideal properties to develop their fortunes. In fact, real estate investors are the best lot who are ready to pay handsome price for the properties. If the property site is convenient for the full-fledged development of townships or apartments, they will never bother about the higher amount you ask to sell property. You have to be vigilant little to grab the potential of the situation.
If your property is ideal for commercial constructions and business, you can gain much revenue from it. Even small real estate plots can fetch you much. These kinds of properties will be moving fast. The price tags associated with commercial properties are going up and up very fast. If you are a real estate investor, you can get commercial properties even at a high rate and hold it for some time. Then you can sell property at a very high rate. No doubt that there will be lot of takers if you declare to sell property.
If you have real estate property in the suburban regions, you will have to identify suitable buyers to sell property. It will be a difficult task to identify a prospective buyer to sell property. There are many ways to get attention for your property.
* Traditional real estate brokers are the first choice. Even in this modern time of communication revolution and global city concept, the real estate brokers play important roles in selling properties. They could identify good buyers for you to sell property. The real estate brokers are excellent in projecting the great advantages of the property for sale. They have special capability to convince the potential buyers about the benefits and profits of the property. * Second option is the newspaper advertisements and publication in real estate journals. This is a very good option. You have to make the advertisement very inviting and it should contain the important merits of the property for sale. * The third option is a growing trend in the real estate industry. It is nothing but publishing in Internet websites. Many real estate establishments offer this facility. You can advertise the details of the property in these websites. You can even show photographs or video clips of the property in these sites. Potential buyers can view the property in the online websites and decide up on the purchase. Site visit is not very essential in such cases. You can sell property without much difficulty with the help of any of the above methods. To sell property you have to spend good efforts and energy in a proper direction.
Assume that your property is ready for sale. You have to sell property as early as possible. You would have put up it some time back in the market. There would be many inquiries about the property and rate. This is very common in the real estate business. It is essential to do some homework before publishing it for sale. You can sell property at a higher rate only if you know how to make known the advantages of the property among the potential customers.
Many real estate investors are out there looking for ideal properties to develop their fortunes. In fact, real estate investors are the best lot who are ready to pay handsome price for the properties. If the property site is convenient for the full-fledged development of townships or apartments, they will never bother about the higher amount you ask to sell property. You have to be vigilant little to grab the potential of the situation.
If your property is ideal for commercial constructions and business, you can gain much revenue from it. Even small real estate plots can fetch you much. These kinds of properties will be moving fast. The price tags associated with commercial properties are going up and up very fast. If you are a real estate investor, you can get commercial properties even at a high rate and hold it for some time. Then you can sell property at a very high rate. No doubt that there will be lot of takers if you declare to sell property.
If you have real estate property in the suburban regions, you will have to identify suitable buyers to sell property. It will be a difficult task to identify a prospective buyer to sell property. There are many ways to get attention for your property.
* Traditional real estate brokers are the first choice. Even in this modern time of communication revolution and global city concept, the real estate brokers play important roles in selling properties. They could identify good buyers for you to sell property. The real estate brokers are excellent in projecting the great advantages of the property for sale. They have special capability to convince the potential buyers about the benefits and profits of the property. * Second option is the newspaper advertisements and publication in real estate journals. This is a very good option. You have to make the advertisement very inviting and it should contain the important merits of the property for sale. * The third option is a growing trend in the real estate industry. It is nothing but publishing in Internet websites. Many real estate establishments offer this facility. You can advertise the details of the property in these websites. You can even show photographs or video clips of the property in these sites. Potential buyers can view the property in the online websites and decide up on the purchase. Site visit is not very essential in such cases. You can sell property without much difficulty with the help of any of the above methods. To sell property you have to spend good efforts and energy in a proper direction.
Dunes Village Resort Myrtle Beach
Dunes Village Resort Myrtle Beach
Many people wonder how resorts like Dunes Village are able to keep occupancy high even in the off season. Well it's simple, great customer service, award winning attractions, and an oceanfront playground that awaits even the most discriminating travelers. Dunes Village offers families, golfers, and all the best amenities in the Myrtle Beach area.
Dunes Village Resort is located at 52nd and 53rd Avenues North in Myrtle Beach's most central and desired section. The combined resorts offer features unprecedented in any resort in the Myrtle Beach area. The most compelling aspect of the resort are the indoor water parks comprised of some 30,000 square feet and featuring 20' high ceilings and an incredible array of water amenities including lazy river rides, water slides, swimming pools, spas and children pools.
These facilities combined with an array of outdoor oceanfront water amenities sprawling over 500' of Atlantic coastline. The Myrtle Beach Rentals also offers other amenities such as exercise rooms, game rooms, tennis and basketball courts, covered parking, designer restaurants, oceanfront lobbies with registration desk facilities, general stores and commercial concession areas, real estate sales office, walking trails and community clubhouse! There are many Myrtle Beach Condos to choose from but Dunes Village Resort is by far the best on the Grand Strand.
Come visit say, play, relax, and bring the entire family for a vacation you won't forget in Myrtle Beach!
Many people wonder how resorts like Dunes Village are able to keep occupancy high even in the off season. Well it's simple, great customer service, award winning attractions, and an oceanfront playground that awaits even the most discriminating travelers. Dunes Village offers families, golfers, and all the best amenities in the Myrtle Beach area.
Dunes Village Resort is located at 52nd and 53rd Avenues North in Myrtle Beach's most central and desired section. The combined resorts offer features unprecedented in any resort in the Myrtle Beach area. The most compelling aspect of the resort are the indoor water parks comprised of some 30,000 square feet and featuring 20' high ceilings and an incredible array of water amenities including lazy river rides, water slides, swimming pools, spas and children pools.
These facilities combined with an array of outdoor oceanfront water amenities sprawling over 500' of Atlantic coastline. The Myrtle Beach Rentals also offers other amenities such as exercise rooms, game rooms, tennis and basketball courts, covered parking, designer restaurants, oceanfront lobbies with registration desk facilities, general stores and commercial concession areas, real estate sales office, walking trails and community clubhouse! There are many Myrtle Beach Condos to choose from but Dunes Village Resort is by far the best on the Grand Strand.
Come visit say, play, relax, and bring the entire family for a vacation you won't forget in Myrtle Beach!
Which Real estate office is Best for a New agent?
Which Real estate office is Best for a New agent?
As a brand new real estate agent it is difficult to pick your first office. More than likely the first office you work at will not be your last. Most people move as their business changes or as the market changes.
Now each office is a little bit different. Even if you look at the big franchise offices, all of them are a little different. Each office offers different levels of training and support.
Normally when the market is good, most agents tend to stay where they are at. Lets face it when things are good, why change them. Now that the market is in a slump we are seeing a lot of real estate agents changing offices.
Now when looking for an office you need to look at an office that has goals that are similar to yours. If you are looking to sell myrtle beach condos you might want to look at going to an office than specializes in myrtle beach condos. If you want to do myrtle beach rentals you might want to look for somewhere that deals with a lot of myrtle beach rentals.
In some resorts like Dunes Village Resort they sell individual condos but they also have a section of the building that is time share.
But most importantly remember when you are looking for an office you are interviewing them just as much as they are interviewing you. The positive thing is most offices don't lock you in for any specific amount of time. So if you decide you made the wrong choice you can always go some where else
As a brand new real estate agent it is difficult to pick your first office. More than likely the first office you work at will not be your last. Most people move as their business changes or as the market changes.
Now each office is a little bit different. Even if you look at the big franchise offices, all of them are a little different. Each office offers different levels of training and support.
Normally when the market is good, most agents tend to stay where they are at. Lets face it when things are good, why change them. Now that the market is in a slump we are seeing a lot of real estate agents changing offices.
Now when looking for an office you need to look at an office that has goals that are similar to yours. If you are looking to sell myrtle beach condos you might want to look at going to an office than specializes in myrtle beach condos. If you want to do myrtle beach rentals you might want to look for somewhere that deals with a lot of myrtle beach rentals.
In some resorts like Dunes Village Resort they sell individual condos but they also have a section of the building that is time share.
But most importantly remember when you are looking for an office you are interviewing them just as much as they are interviewing you. The positive thing is most offices don't lock you in for any specific amount of time. So if you decide you made the wrong choice you can always go some where else
วันจันทร์ที่ 9 มีนาคม พ.ศ. 2552
Real Estate Insider: Tips For Repairing Hardwood Floors
Real Estate Insider: Tips For Repairing Hardwood Floors
It's a well known fact that hardwood floors increase the value of real estate. However, if they are damaged, that will not only detract from your home's overall value but it can cause it to lose its market appeal as well. Whether it's a buyer's market or seller's, when you have a home to sell you want it to be in the most attractive condition possible. Common Problems With Hardwood Floors The most common problems that a homeowner faces with hardwood floors are scratches, scuffs, and gouges, though annoying squeaking can also be an issue. The first step you have to take is to determine the extent of the damage to the flooring. Surface stains or scratches, naturally, are easier to deal with than those that have penetrated into the wood. Repairing Surface Scratches You can usually repair surface scratches by purchasing a touch-up kit for urethane finishes online or at any retailer of wood flooring. How you remove the surface stain depends on the type of stain you have. In most cases, it will be either water or pet stains. To remove these stains, you will need a floor cleaner that is designed for urethane finishes, with stubborn stains requiring additional scrubbing using the floor cleaner and a special scrub pad that is designed for urethane floors. Removing Deep Scratches To remove scratches that have penetrated into the wood, you might be able to get away with no more than having to wax the area until the scratch becomes invisible. Rub steel wool into the wax and hand buff the area to remove scuffmarks. Be extremely cautious when using abrasives such as steel wool, because if you rub too hard, you can cause more damage to the wood. Rub the spot with fine steel wool in order to remove water stains. If that doesn't remove the stain completely, sand the area with very fine sandpaper, and then clean it with steel wool and mineral spirits or a wood floor cleanser. After the surface dries, apply stain, wax, and hand buff. Reversing Pet Stains For pet stains that have penetrated the wood, rub the spot using fine steel wool and wax. If this doesn't remove the stain completely, follow up using the same process as for water stains that don't come up the first time. For stains that are determined to stay, use a household bleach or vinegar. Allow it to soak for an hour, rinse the floor with a damp cloth, wipe dry and smooth with fine sandpaper before applying stain, waxing, and hand buffing. Maintenance of Hardwood Floors The best way to prevent scratches and stains from penetrating the wood is to vacuum and/or dry mop the wood floor every week. This is to prevent dirt and grit from accumulating so it will not be able to be ground in by normal foot traffic. Another important tip is to make sure you do not wax any floor with a polyurethane finish or it will be impossible to re-coat without sanding it first.
It's a well known fact that hardwood floors increase the value of real estate. However, if they are damaged, that will not only detract from your home's overall value but it can cause it to lose its market appeal as well. Whether it's a buyer's market or seller's, when you have a home to sell you want it to be in the most attractive condition possible. Common Problems With Hardwood Floors The most common problems that a homeowner faces with hardwood floors are scratches, scuffs, and gouges, though annoying squeaking can also be an issue. The first step you have to take is to determine the extent of the damage to the flooring. Surface stains or scratches, naturally, are easier to deal with than those that have penetrated into the wood. Repairing Surface Scratches You can usually repair surface scratches by purchasing a touch-up kit for urethane finishes online or at any retailer of wood flooring. How you remove the surface stain depends on the type of stain you have. In most cases, it will be either water or pet stains. To remove these stains, you will need a floor cleaner that is designed for urethane finishes, with stubborn stains requiring additional scrubbing using the floor cleaner and a special scrub pad that is designed for urethane floors. Removing Deep Scratches To remove scratches that have penetrated into the wood, you might be able to get away with no more than having to wax the area until the scratch becomes invisible. Rub steel wool into the wax and hand buff the area to remove scuffmarks. Be extremely cautious when using abrasives such as steel wool, because if you rub too hard, you can cause more damage to the wood. Rub the spot with fine steel wool in order to remove water stains. If that doesn't remove the stain completely, sand the area with very fine sandpaper, and then clean it with steel wool and mineral spirits or a wood floor cleanser. After the surface dries, apply stain, wax, and hand buff. Reversing Pet Stains For pet stains that have penetrated the wood, rub the spot using fine steel wool and wax. If this doesn't remove the stain completely, follow up using the same process as for water stains that don't come up the first time. For stains that are determined to stay, use a household bleach or vinegar. Allow it to soak for an hour, rinse the floor with a damp cloth, wipe dry and smooth with fine sandpaper before applying stain, waxing, and hand buffing. Maintenance of Hardwood Floors The best way to prevent scratches and stains from penetrating the wood is to vacuum and/or dry mop the wood floor every week. This is to prevent dirt and grit from accumulating so it will not be able to be ground in by normal foot traffic. Another important tip is to make sure you do not wax any floor with a polyurethane finish or it will be impossible to re-coat without sanding it first.
Real Estate Definitions: What's The Difference Between An Appraisal And An Assessment?
Real Estate Definitions: What's The Difference Between An Appraisal And An Assessment?
Getting accustomed to real estate terminology can be an intimidating prospect for most people. After all, buying a home is a fairly complex business transaction involving large enough dollar figures to make anyone edgy, and it is not something you go through very often. When you are buying or selling a home, it is in your best interest to educate yourself about the different terms that are used in the industry on a regular basis. When getting your property valued, it is important for you to understand the difference between a real estate appraisal and a real estate assessment. Assessment A real estate assessment is typically done by a county officer to determine an approximate value of a property. This is for the purpose of determining how much annual tax will be due to the governing authority to pay for local facilities, nost notably schools. This valuation is typically determined based on the location of the property and the real estate values of the surrounding area. Each county has an assessor who has the job of calculating the value of all of the property in the county year by year. This type of valuation is not considered to be as accurate as that given by a real estate appraisal, and the value determined by the assessment is used to calculate the tax payable on the property in question. The assessment value is not acceptable for mortgage approval purposes. Many counties have the assessment guidelines available online, so that members of the public are able to do a basic level of self-assessment of their property. Though this may not be exactly the same as the real estate assessment done by the assessor, it can give you a general guide as to how much your property is worth. Appraisal A real estate appraisal must done by a licensed appraiser. An appraisal is required most of the time when a mortgage is being taken out on a home that is being purchased. It is the lender, not the local government, who has the primary stake in the accuracy of the appraisal, as it is an essential part of determining the size of the loan. Those who are preparing their home to sell also sometimes have an appraisal completed, to get a firm idea as to the best asking price. The difference between the real estate appraisal and the real estate assessment is that the licensed appraiser is hired to do a specific real estate appraisal on the property in question. This real estate appraisal is more detailed and far more accurate in terms of determining the value of the property in question. The assessment, on the other hand, may or may not reflect a market value but is instead only "for tax purposes." Depending on the jurisdiction it may be out of touch with the real market, but as long as the valuation is relatively proportionate to the valuation of other homes in the area it constitutes a fair basis for property tax.
Getting accustomed to real estate terminology can be an intimidating prospect for most people. After all, buying a home is a fairly complex business transaction involving large enough dollar figures to make anyone edgy, and it is not something you go through very often. When you are buying or selling a home, it is in your best interest to educate yourself about the different terms that are used in the industry on a regular basis. When getting your property valued, it is important for you to understand the difference between a real estate appraisal and a real estate assessment. Assessment A real estate assessment is typically done by a county officer to determine an approximate value of a property. This is for the purpose of determining how much annual tax will be due to the governing authority to pay for local facilities, nost notably schools. This valuation is typically determined based on the location of the property and the real estate values of the surrounding area. Each county has an assessor who has the job of calculating the value of all of the property in the county year by year. This type of valuation is not considered to be as accurate as that given by a real estate appraisal, and the value determined by the assessment is used to calculate the tax payable on the property in question. The assessment value is not acceptable for mortgage approval purposes. Many counties have the assessment guidelines available online, so that members of the public are able to do a basic level of self-assessment of their property. Though this may not be exactly the same as the real estate assessment done by the assessor, it can give you a general guide as to how much your property is worth. Appraisal A real estate appraisal must done by a licensed appraiser. An appraisal is required most of the time when a mortgage is being taken out on a home that is being purchased. It is the lender, not the local government, who has the primary stake in the accuracy of the appraisal, as it is an essential part of determining the size of the loan. Those who are preparing their home to sell also sometimes have an appraisal completed, to get a firm idea as to the best asking price. The difference between the real estate appraisal and the real estate assessment is that the licensed appraiser is hired to do a specific real estate appraisal on the property in question. This real estate appraisal is more detailed and far more accurate in terms of determining the value of the property in question. The assessment, on the other hand, may or may not reflect a market value but is instead only "for tax purposes." Depending on the jurisdiction it may be out of touch with the real market, but as long as the valuation is relatively proportionate to the valuation of other homes in the area it constitutes a fair basis for property tax.
Real Estate That Backs To A Busy Street: Run To It Or Run For The Hills?
Real Estate That Backs To A Busy Street: Run To It Or Run For The Hills?
So you've found a fantastic deal on a parcel of real estate. It is the right size, the right price, and can be purchased quickly with a minimum of hassle. The only down side is that the parcel of property backs onto a busy street. Should you still purchase the property or should you begin looking for a different piece of property to purchase? Only you can decide whether you can be happy on a street with all the sounds and activity of an active cityscape and traffic; after all, if that's the way you grew up you might just love more than anything! From a standpoint of real estate value, however, the answer mainly depends on the housing market at the time. In a Seller's Market If you find this nearly perfect parcel of property during a seller's market, you should avoid purchasing the property at that time and begin looking for something else. In a seller's market, you will be paying more than what you should for property with an obvious flaw. Real estate parcels with flaws like that are not easy to resell in most markets and many potential homeowners have no desire, assuming that they have a choice, to live in a home that backs to a busy street. Purchasing this property during a seller's market, when price levels are relatively high and inflexible, may cause a great deal of future financial headache and stress. In a Buyer's Market On the other hand, if the property is discovered during a buyer's market, and by all objective measures it is a good deal with the traffic factored into the price, you might want to purchase the property before someone else beats you to it. You should be able to obtain a great deal on the property and pay a lower price than you would during a seller's market. If you are able, you should hold on to the property until it is a seller's market again, when you may be able to sell the property for a good price due to the appreciation of the property. Variables Impacting Price It is important to remember that in the real estate market, nothing is certain and there is an inherent risk in every transaction. Just because a property is forecasted to do well or poorly is no guarantee that the property will perform as predicted. There are many variables that could possibly affect the prices of the real estate in the area and could cause certain real estate parcels to quickly gain or lose value. In some cases, areas around busy streets can be rezoned for commercial development, which can cause the value of the property to rise. But it is just as common for busy streets to be widened, without a change in zoning, so more traffic can be funneled through. This will cause the value of the property to decrease because now the additional noisy activity makes the neighborhood less appealing and desirable to new homeowners. In real estate investing, very little is certain and anything can change.
North Carolina Parade of Lake Homes, Lake Hickory, NC
North Carolina Parade of Lake Homes, Lake Hickory, NC
Come Experience North Carolina Lake Living Parade of Lake Homes - Saturday, March 28th, 2009 To get a true sense of what lake living is like here, you are cordially invited to an exclusive Tour of Custom Homes at Lake Hickory, North Carolina on Saturday March 28th. It will be a fun and relaxing weekend! Come and view beautiful homes, explore the area, and join us for a boat cruise around the lake. This is the best way to experience North Carolina Lake Living! RSVP at 800-517-5899. We look forward to hearing from you! Photos and Views of Parade of Lake Homes - Providence Home Builders has joined an elite list of builders by becoming a Certified Green Professional (CGP) Builder, one of the first in North Carolina! This is just a sample - make your reservation today to see much, much more! Welcome to Hickory North Carolina! Hickory is located an hour northwest of Charlotte in the Blue Ridge Mountains, an hour east of Asheville, 1.5 hours from Winston-Salem/Greensboro area, 2.5 hours from Raleigh, and 45 minutes from Blowing Rock and Boone. Reader's Digest called Hickory "One of the 10 best places in America to raise a family", and Google's East Coast Operation Center here is now open and hiring! We'll also have a list of available lots to build your own dream home, available lake homes, and custom floor plans. Note from an owner "....a lot of things about life are uncertain - economic times, political times and many others but there is one thing that is definitely certain. That's how fast our kids are growing up. This place is like a magnet to attract our kids and future grandkids. We are so happy to get involved now!" The Key is Thinking With Clarity In This Uncertain Time Given the current economic landscape, many folks today are trying to navigate through all the economic malaise that has caused stock prices to drop significantly over the past 5+ months. Once again, scandal has hit both Wall Street and Washington and many people we talk to feel both entities are out of touch with Main Street. It is important not to get caught up in the hype of it all but to look at the facts so you can make good choices now for your financial future going forward. Let's look at what these are and by doing so, hopefully you can make good choices and perhaps use this volatile time to take advantage of abnormal pricing in this current real estate market. Now that real estate has seen a correction in pricing, is this the right time for you to purchase? Let's examine what we do know... Interest rates are at historic lows - If your credit is good and purchasing property is financially within your means, this is an excellent time to borrow money at very attractive rates. There is a large supply of good quality real estate in the marketplace - as well as not so good real estate! Due to the downturn in the economy, many who own properties are being forced to sell their prized second home as they can no longer afford it due to the downturn in the economy. There are also those that purchased property as an investment and some of these investors have walked away from these lots and homes and their obligation to pay on them. Due to this, there are some excellent buys in both desirable and less desirable properties. There are excellent values in the current market if you know how to find them - and they are not only short sales and foreclosures. NClakefront.com Realty concentrates on real estate in North Carolina - specifically lake property. These areas are off anywhere from 10% to 50%. If you were looking at a particular city or a specific property or development before the downturn, you have got to like where prices are at now! Add to that, developers and sellers are motivated to work with a qualified buyer so the concessions and conditions they are offering to the buyer are generous in this market. Investors feel at a loss to get accurate information on their stock holdings and some will turn to investments they have more ‘control' over - such as real estate. Due to this, investable funds will once again turn to real estate as people are frustrated with the unpredictability and inequity of the stock market. This includes corporate executive excessive compensation and the scandal of mismanagement of funds by both corporations and money managers who were managing the accounts of many investors. Real estate is an investment, regardless of the current value; that can be enjoyed while owned. Take the second home that a couple has purchased for their entire family to enjoy. Even in a downturn, that home can represent a place where memories are made, family gatherings are held and traditions established. These are attributes that have nothing to do with money. As assets such as stocks and real estate return in value, people who have been jarred by owning blue chip stocks for safety, income and moderate conservative returns may decide to re allocate some of their funds to a hard asset such as real estate. Baby Boomers, 78 million of them, started to retire at the age of 62 in 2008 and this waive has just begun. These retirees will consider whether or not to relocate now that they can. Let's do the numbers...half of the Baby Boomers polled say they will relocate 3 hours or more away from their primary home at retirement. That is 39 million people. Let's cut that number in half to be conservative and that is still 20 million people. That right there is a lot of real estate activity! It is estimated that 43% of retirees will choose the Southeast United States for their retirement location so this area of the U.S. will noticeably feel the migration pattern of this demographic shift. Most importantly, per Live South Magazine, North Carolina recently passed Florida as the most popular place in the southeast to retire. Taxes and weather; these two factors despite the economic landscape, are continuing to fuel peoples' decision to move southward at retirement. Folks can't afford or justify the taxes they are paying living in northern cities. Add to that, the winters are harsh. A dear friend of mine said, "You know you are a northerner when you describe the seasons where you live as winter, almost winter, still winter and not winter". So true! People have grown tired of the rigors of the cold and snow and when they talk to their friends who have moved southward upon retirement and hear of the gentler climate that affords them the lifestyle to be outdoors and lead a more active lifestyle, it is just too alluring not to join them and hang up their snow boots and discard their snow shovels once and for all. Current home values have fallen and there are those that want to wait for their home to appreciate in value before they sell. Hindsight is always 20/20. What would have been the best financial move for folks who knew they wanted to retire was to sell their home a few years ago while the market was up, even if they had to go into temporary housing before they relocated down south. Then as the market dropped, they could have bought now on the tail end of the downturn. For folks that say they want to wait for their home to go up in value, they need to be aware that chances are if their home price appreciates (especially in the north), so will the real estate where they are heading. In the meantime, while they wait, they aren't getting on with their lives and they will continue to pay the high taxes and will endure further frigid winters where they are. The real estate areas that will recover the best in this downturn are where two things are present; job growth and housing demand. Look to see where jobs are being created. Where employment is strong, that is where housing will lead out of this setback (Google and Williams Sonoma recently opened operations centers in our area). Where migration patterns are directing is where housing will recover the fastest. I know very few folks out of the 78 million Baby Boomers who are moving northward at retirement. Most folks I know are moving southward whether it is to Eastern Tennessee, the Carolinas or to Florida or anything in between. These cities and regions will see real estate demand increase which will positively affect pricing. Second, where jobs are being created and some of these jobs may be second careers for retirees, this too will positively affect pricing. Bottom line - People need to think through this life step and: 1. Write out their goals of what they want to find; 2. Which community amenities are important; 3. What can they realistically afford; 4. And identify the "must have" city conveniences. REMEMBER to purchase a property, whether it is a home or a lot in a community that has amenities complete and operational. In this market where concessions are being given on the best properties out there, why would you do otherwise? Do not buy in a start up community that has proposed amenities as there is too much risk in this economy. Buy into a community that has finished all their amenities or the bulk of the amenities are complete. If amenities are not important to you, then purchase in a community that has basic amenities where properties are generally less expensive. Do your homework or call upon NClakefront.com Realty who does this due diligence for our clients. Get to know the area you are considering purchasing in. Learn about the tax structure of the state of which you are looking to relocate to. Know what is taxed and what is not. Find out about the medical care available through the local hospitals. Know about airport access, university opportunities, locations of restaurants and shopping centers, volunteerism and activities the area is known for. Your agent at NClakefront.com Realty has reports covering topics such as this and would be happy to furnish upon request. The Parade of Homes on March 28th is an excellent opportunity for you to ‘try on' the property for size for a weekend. There is a special Weekend Discovery Package on March 28th too - call for details. While you are here, meet others who live in the community, take a leisure cruise on the lake aboard our boat, get to know the area and envision living here and enjoying the North Carolina Lake Lifestyle. In an economic storm such as this, the silver lining is opportunity. Know the facts, know your financial budget and have a plan. This is a time to see the forest through the trees and make smart decisions now that will lay a good foundation for you and your family going into the next decade. RSVP at 800-517-5899. We look forward to talking with you today!
Real Estate Tips: Window Coverings
Real Estate Tips: Window Coverings
When preparing your home to be placed on the real estate market, you want to make sure that your home looks as warm and inviting as possible to make buyers interested in purchasing the property. Many people know the old trick of having the home smell like fresh baked bread or cookies when potential buyers come for a showing, but there are many other things to consider as well. A Home, Not Just a Property Since homes are typically shown by a Realtor while the owner is away, the homeowner must be able to help the buyer see the home as the place for them by utilizing subtle cues. The seller wants the buyer to look at the property and think that, with a few minor changes, they would be able to live in the home comfortably. To achieve this end, it is important to realize that if the home is cluttered with too many family pictures and mementos, those artifacts of your personal life will get the attention that should go to the home itself. That derails the illusion you want to create, that the buyers would be at home there. On the other hand, the home cannot look like a sterile shell or it will be too hard for the buyer to visualize themselves living there. Cosmetic Improvements There are many things that you can do to the interior of the home to make it more inviting to potential buyers. Generally, when homeowners get ready to sell their home, the first thing they do is to get their home into a condition that is appealing and attractive on first impression. Any cosmetic repairs to the home that need to be made are usually completed then and all the walls are stripped of wallpaper or prior paint and repainted a neutral color. If the carpets need to be replaced, that is done as well. Window Coverings Add Appeal One of the easiest things to do is to ensure that you have attractive window coverings on the windows of your home. This is when the homeowner should replace or obtain window coverings for their home. The window coverings should be in neutral tones to match the walls and carpet. Bright colors should be avoided as the potential buyer may not like the colors that you have chosen and the sale might be lost because of it. Choosing Window Coverings There are many different types of window coverings to choose from when preparing your home for sale. Standard curtains, available in color-coordinated sets just about anywhere, are an easy choice with minimum involvement. The homeowner should ensure that the curtains are not too long for the window, and that the curtains are wide enough to cover the entire window with enough material left over to create a nicely draped appearance. Many curtains come with optional valances and ties and the curtains look much better when the optional items are used as well. The homeowner may also choose to use blinds or shades in addition to the curtains. Basic window treatments will cost the homeowner a few hundred dollars, but they make the home more appealing to buyer and the home will sell more quickly, making the investment worthwhile.
When preparing your home to be placed on the real estate market, you want to make sure that your home looks as warm and inviting as possible to make buyers interested in purchasing the property. Many people know the old trick of having the home smell like fresh baked bread or cookies when potential buyers come for a showing, but there are many other things to consider as well. A Home, Not Just a Property Since homes are typically shown by a Realtor while the owner is away, the homeowner must be able to help the buyer see the home as the place for them by utilizing subtle cues. The seller wants the buyer to look at the property and think that, with a few minor changes, they would be able to live in the home comfortably. To achieve this end, it is important to realize that if the home is cluttered with too many family pictures and mementos, those artifacts of your personal life will get the attention that should go to the home itself. That derails the illusion you want to create, that the buyers would be at home there. On the other hand, the home cannot look like a sterile shell or it will be too hard for the buyer to visualize themselves living there. Cosmetic Improvements There are many things that you can do to the interior of the home to make it more inviting to potential buyers. Generally, when homeowners get ready to sell their home, the first thing they do is to get their home into a condition that is appealing and attractive on first impression. Any cosmetic repairs to the home that need to be made are usually completed then and all the walls are stripped of wallpaper or prior paint and repainted a neutral color. If the carpets need to be replaced, that is done as well. Window Coverings Add Appeal One of the easiest things to do is to ensure that you have attractive window coverings on the windows of your home. This is when the homeowner should replace or obtain window coverings for their home. The window coverings should be in neutral tones to match the walls and carpet. Bright colors should be avoided as the potential buyer may not like the colors that you have chosen and the sale might be lost because of it. Choosing Window Coverings There are many different types of window coverings to choose from when preparing your home for sale. Standard curtains, available in color-coordinated sets just about anywhere, are an easy choice with minimum involvement. The homeowner should ensure that the curtains are not too long for the window, and that the curtains are wide enough to cover the entire window with enough material left over to create a nicely draped appearance. Many curtains come with optional valances and ties and the curtains look much better when the optional items are used as well. The homeowner may also choose to use blinds or shades in addition to the curtains. Basic window treatments will cost the homeowner a few hundred dollars, but they make the home more appealing to buyer and the home will sell more quickly, making the investment worthwhile.
วันเสาร์ที่ 7 มีนาคม พ.ศ. 2552
Location Makes An Impact On Real Estate Investment
Location Makes An Impact On Real Estate Investment
Investing in property always proves to be positive as over the globe the value of property and estates always appreciate with time. While the other possessions may depreciate in value, but the prices of real estate always climb up the ladder.
However, it is seen as time passes some properties appreciate in value that is more than others. A little more knowledge in this field can help you gain a bigger worth in the estate you are investing your funds in. Keeping your immaturity and ignorance in this regard you will unnecessarily lose on your investment.
When you think of investing in real estate you must select the location that is the basic key, very intelligently. Do not choose a land that is deserted for years, or in a forest or away from basic amenities of life. Farmlands may be a good location for putting your money into. It is better if you avoid choosing a quiet and secluded location as usually such remote areas do not give you better returns on investments.
Consider your likely neighborhood as an important factor; the standard of living of the residents, their language and almost the total quality of the neighborhood ambiance should be in perfect tune with your own life style. A neighborhood that has the potential to expand in and provide better returns is always preferable.
The location should provide you enough access ways to the city; it should be closer to your workplace and railroads. A location close to markets, schools, offices, hospitals, parks, clubs, libraries and shopping complexes will be on top priority for the client you will be selling or leasing your property to.
The location plays a vital role in uplifting or pushing down the value of the real estate investment you are thinking to dive in. A good well thought location can make a positive impact on the success of the real estate investment plans.
Investing in property always proves to be positive as over the globe the value of property and estates always appreciate with time. While the other possessions may depreciate in value, but the prices of real estate always climb up the ladder.
However, it is seen as time passes some properties appreciate in value that is more than others. A little more knowledge in this field can help you gain a bigger worth in the estate you are investing your funds in. Keeping your immaturity and ignorance in this regard you will unnecessarily lose on your investment.
When you think of investing in real estate you must select the location that is the basic key, very intelligently. Do not choose a land that is deserted for years, or in a forest or away from basic amenities of life. Farmlands may be a good location for putting your money into. It is better if you avoid choosing a quiet and secluded location as usually such remote areas do not give you better returns on investments.
Consider your likely neighborhood as an important factor; the standard of living of the residents, their language and almost the total quality of the neighborhood ambiance should be in perfect tune with your own life style. A neighborhood that has the potential to expand in and provide better returns is always preferable.
The location should provide you enough access ways to the city; it should be closer to your workplace and railroads. A location close to markets, schools, offices, hospitals, parks, clubs, libraries and shopping complexes will be on top priority for the client you will be selling or leasing your property to.
The location plays a vital role in uplifting or pushing down the value of the real estate investment you are thinking to dive in. A good well thought location can make a positive impact on the success of the real estate investment plans.
Home Improvement Basics
Home Improvement Basics
Unless you have your head in the sand, you know that the real estate market in the United States today is terrible. It is worse than terrible. Most of the problems center around a "bubble" that was created by unrealistic housing price expectancies.
These unrealistic valuations caused the market bubble to grow, and people took advantage of this by purchasing houses they couldn't afford through less than fair loan agreements and taking out lines of credit on their new found home equity and spending it wastefully. When it came time for homeowners to pay on those loans and people tried to sell their houses for what their mortgage and home equity loan added up to, they found the market wouldn't support what they though their house was worth.
In the end, even those who did not participate in the debauchery that is the housing market have been harmed. If you purchased a house within the last 5 years it is likely that your house is now worth less, or only as much, as you paid for it. If you now need or want to sell your house, for whatever reason, it is important to make sure it is top notch, and this includes adding features that potential buyers will like, and will pay for.
Home improvement projects are a dime a dozen. You can paint the walls, put in new bathroom fixtures, put in wood flooring, or any number of other improvements. I wanted to take the opportunity to direct your attention to another potential home improvement project that is not often considered, but can often put your house that one step above the others and get it sold quickly: epoxy garage floors.
What is an epoxy garage floor? It is likely you've never even heard of it. An epoxy floor is a home improvement project that makes your garage or any other concrete surface look like granite. An epoxy based material is used to seal up the concrete, make it more durable and easier to clean, and also make it look magnificent. Towards the end of the project colored flakes are laid down with the epoxy giving it the look of granite. It is very pleasing to the eye.
Installing epoxy garage floors is not too difficult either. If you are mechanically inclined you can do it yourself, and there are professional epoxy garage floor contractors that can do the installation for you, for relatively little cost (approximately $2.50 per square foot on average). Once it is done, it will blow your mind how great it looks and the short amount of time it took to complete (usually 24-48 hours for complete installation).
If you are looking to sell your house and want to try something to put it above the rest of those on the market (and make the money back you put into it), look into epoxy floors for any of your concrete surfaces. As much as women stereotypically love kitchens, men stereotypically love garages. Make everyone happy by laying down an epoxy garage floor.
Unless you have your head in the sand, you know that the real estate market in the United States today is terrible. It is worse than terrible. Most of the problems center around a "bubble" that was created by unrealistic housing price expectancies.
These unrealistic valuations caused the market bubble to grow, and people took advantage of this by purchasing houses they couldn't afford through less than fair loan agreements and taking out lines of credit on their new found home equity and spending it wastefully. When it came time for homeowners to pay on those loans and people tried to sell their houses for what their mortgage and home equity loan added up to, they found the market wouldn't support what they though their house was worth.
In the end, even those who did not participate in the debauchery that is the housing market have been harmed. If you purchased a house within the last 5 years it is likely that your house is now worth less, or only as much, as you paid for it. If you now need or want to sell your house, for whatever reason, it is important to make sure it is top notch, and this includes adding features that potential buyers will like, and will pay for.
Home improvement projects are a dime a dozen. You can paint the walls, put in new bathroom fixtures, put in wood flooring, or any number of other improvements. I wanted to take the opportunity to direct your attention to another potential home improvement project that is not often considered, but can often put your house that one step above the others and get it sold quickly: epoxy garage floors.
What is an epoxy garage floor? It is likely you've never even heard of it. An epoxy floor is a home improvement project that makes your garage or any other concrete surface look like granite. An epoxy based material is used to seal up the concrete, make it more durable and easier to clean, and also make it look magnificent. Towards the end of the project colored flakes are laid down with the epoxy giving it the look of granite. It is very pleasing to the eye.
Installing epoxy garage floors is not too difficult either. If you are mechanically inclined you can do it yourself, and there are professional epoxy garage floor contractors that can do the installation for you, for relatively little cost (approximately $2.50 per square foot on average). Once it is done, it will blow your mind how great it looks and the short amount of time it took to complete (usually 24-48 hours for complete installation).
If you are looking to sell your house and want to try something to put it above the rest of those on the market (and make the money back you put into it), look into epoxy floors for any of your concrete surfaces. As much as women stereotypically love kitchens, men stereotypically love garages. Make everyone happy by laying down an epoxy garage floor.
Driggs Idaho Real Estate
Driggs Idaho Real Estate
The town of Driggs, Idaho is situated between the Tetons Mountain range and the Big Hole Mountain range. The town is located on approximately 350 acres and is always touted as one of the top recreational spots to live in the United States. The fact that the town is so close to the mountains means there is skiing in the winter and hiking in the summer. The town has a small populating of about 1300 people but there are still homes available and how to find this real estate in Driggs, Idaho is just a matter of where you look.
Finding real estate in Driggs, Idaho is really no different than finding it in any other location in the United States. Sure the fact that Driggs is such a popular place to live coupled with the fact that there isn't much real estate to begin with because the town is so small may deter you but it shouldn't. Finding the perfect real estate in Driggs, Idaho is as easy as checking with one of their better established real estate companies.
Of all the real estate companies that do business in the Driggs area perhaps none is better experienced than Victor Driggs Real Estate. Victor Driggs not only specializes in Driggs, Idaho real estate but in many of the other smaller towns that are in the surrounding areas.
Once on their web site -www.victordriggsrealestate.com- you will find a whole host of options on how to get started. To the left on the home page is a listing of homes and lands with prices that are available in the area. If you see one in Driggs that you like simply click on the link and you will be brought to another page with more information and pictures about that specific property.
If you don't see anything immediately just go up to the navigation bar on top of the home page and you will be presented with a wide variety of options. To make it easiest on yourself, click the link that says, "Homes for Sale." This will bring up a page of all the listings that the real estate website has. Here you can look at a thumbnail picture of the homes and a brief description as well. Again, once you find a home you are interested in you can click on the picture and a new page dedicated to that particular property will come up with more photos and more information. There are also categories for foreclosures, land, and rentals on the site. This makes it easy to hone in on the exact type of real estate in Driggs you are interested in. The web site couldn't be more user-friendly.
Victor Driggs Real Estate even has a mortgage calculator on the site that can help you to figure out what your payments would be. Simply put in the information asked for, such as purchase price and down payment, and the calculator will generate a rough idea of what you will have to pay each month - before taxes and insurance of course.
Once you have your piece of Driggs real estate picked out, contact the listing agent to set up a viewing. Though the task may sound daunting, finding real estate in Driggs, Idaho is really only a few short clicks of the mouse away.
The town of Driggs, Idaho is situated between the Tetons Mountain range and the Big Hole Mountain range. The town is located on approximately 350 acres and is always touted as one of the top recreational spots to live in the United States. The fact that the town is so close to the mountains means there is skiing in the winter and hiking in the summer. The town has a small populating of about 1300 people but there are still homes available and how to find this real estate in Driggs, Idaho is just a matter of where you look.
Finding real estate in Driggs, Idaho is really no different than finding it in any other location in the United States. Sure the fact that Driggs is such a popular place to live coupled with the fact that there isn't much real estate to begin with because the town is so small may deter you but it shouldn't. Finding the perfect real estate in Driggs, Idaho is as easy as checking with one of their better established real estate companies.
Of all the real estate companies that do business in the Driggs area perhaps none is better experienced than Victor Driggs Real Estate. Victor Driggs not only specializes in Driggs, Idaho real estate but in many of the other smaller towns that are in the surrounding areas.
Once on their web site -www.victordriggsrealestate.com- you will find a whole host of options on how to get started. To the left on the home page is a listing of homes and lands with prices that are available in the area. If you see one in Driggs that you like simply click on the link and you will be brought to another page with more information and pictures about that specific property.
If you don't see anything immediately just go up to the navigation bar on top of the home page and you will be presented with a wide variety of options. To make it easiest on yourself, click the link that says, "Homes for Sale." This will bring up a page of all the listings that the real estate website has. Here you can look at a thumbnail picture of the homes and a brief description as well. Again, once you find a home you are interested in you can click on the picture and a new page dedicated to that particular property will come up with more photos and more information. There are also categories for foreclosures, land, and rentals on the site. This makes it easy to hone in on the exact type of real estate in Driggs you are interested in. The web site couldn't be more user-friendly.
Victor Driggs Real Estate even has a mortgage calculator on the site that can help you to figure out what your payments would be. Simply put in the information asked for, such as purchase price and down payment, and the calculator will generate a rough idea of what you will have to pay each month - before taxes and insurance of course.
Once you have your piece of Driggs real estate picked out, contact the listing agent to set up a viewing. Though the task may sound daunting, finding real estate in Driggs, Idaho is really only a few short clicks of the mouse away.
The Benefits Of Investing in Baton Rouge Real Estate
The Benefits Of Investing in Baton Rouge Real Estate
Baton Rouge, Louisiana, offers a variety of historical real estate and new development opportunities for investors. Louisiana real estate is ripe with history and unique features, particularly the homes located in the Baton Rouge area. This important city combines a rich history dating back to 1700's as well as a current boom in new construction and technology.
There are several large real estate projects currently underway or recently completed, including condos, apartments, and business towers. Whether you're interested in investing in pre-existing or constructing new real estate, Baton Rouge, Louisiana is prime location to begin your search.
New Development
Baton Rouge real estate is rife with new development and construction projects that aim to preserve the culture and charm of Louisiana while maintaining a modern standard of comfort and aesthetics. Blending the past with the present is a popular choice, attracting new residents as well as keeping older Baton Rouge generations pleased with new developments.
If choosing to develop a new property or renovating preexisting real estate, there are architecture firms, both residential and commercial, that specialize in preserving the history while making appropriate upgrades.
Residential Investment
Baton Rouge real estate is charmingly diverse, ranging from ultra-modern apartments to plantations and bungalows. Many properties combine several architectural and historical elements to create a uniquely individual piece of real estate.
Although the real estate market is sluggish, historical homes or real estate in historical neighborhoods tends to hold its value better than modern counterparts. Niche markets, such as unique architecture, can fetch higher prices and serious buyers even during difficult economic periods. There will always be a demand for the unusual, which makes Louisiana real estate a wise investment.
If you're still hesitant, apartments and rental units are rising in popularity. As foreclosures rise, more people are forced to move into apartments or other forms of rental property. Rental units provide a steady stream of income and can always be sold at a later date.
Renovations
Many properties in Baton Rouge are ready for renovations, whether the building has been left to decay over time or suffered from hurricane damage. Skilled renovators can often make a large profit with minimal initial investment.
Even hiring professional contractors to complete the project can generally still provide a savvy seller with a reasonable sales profit. Or, if you're a do-it-yourselfer, this Louisiana city offers terrific renovation gems that could eventually create great profits for you over time with some hard work and creativity. Renting real estate to buy or leasing is another potential option during difficult economic times.
An experienced realtor can help you explore the various investment opportunities available in Baton Rouge, Louisiana real estate. Property can help you expand and balance your investment portfolio, for some it even provides a reliable stream of extra income which can be reinvested or simply saved away. Even in sluggish real estate markets, historical homes and neighborhoods are safe havens for your capital. Baton Rouge offers an array of appealing real estate options to choose from.
Baton Rouge, Louisiana, offers a variety of historical real estate and new development opportunities for investors. Louisiana real estate is ripe with history and unique features, particularly the homes located in the Baton Rouge area. This important city combines a rich history dating back to 1700's as well as a current boom in new construction and technology.
There are several large real estate projects currently underway or recently completed, including condos, apartments, and business towers. Whether you're interested in investing in pre-existing or constructing new real estate, Baton Rouge, Louisiana is prime location to begin your search.
New Development
Baton Rouge real estate is rife with new development and construction projects that aim to preserve the culture and charm of Louisiana while maintaining a modern standard of comfort and aesthetics. Blending the past with the present is a popular choice, attracting new residents as well as keeping older Baton Rouge generations pleased with new developments.
If choosing to develop a new property or renovating preexisting real estate, there are architecture firms, both residential and commercial, that specialize in preserving the history while making appropriate upgrades.
Residential Investment
Baton Rouge real estate is charmingly diverse, ranging from ultra-modern apartments to plantations and bungalows. Many properties combine several architectural and historical elements to create a uniquely individual piece of real estate.
Although the real estate market is sluggish, historical homes or real estate in historical neighborhoods tends to hold its value better than modern counterparts. Niche markets, such as unique architecture, can fetch higher prices and serious buyers even during difficult economic periods. There will always be a demand for the unusual, which makes Louisiana real estate a wise investment.
If you're still hesitant, apartments and rental units are rising in popularity. As foreclosures rise, more people are forced to move into apartments or other forms of rental property. Rental units provide a steady stream of income and can always be sold at a later date.
Renovations
Many properties in Baton Rouge are ready for renovations, whether the building has been left to decay over time or suffered from hurricane damage. Skilled renovators can often make a large profit with minimal initial investment.
Even hiring professional contractors to complete the project can generally still provide a savvy seller with a reasonable sales profit. Or, if you're a do-it-yourselfer, this Louisiana city offers terrific renovation gems that could eventually create great profits for you over time with some hard work and creativity. Renting real estate to buy or leasing is another potential option during difficult economic times.
An experienced realtor can help you explore the various investment opportunities available in Baton Rouge, Louisiana real estate. Property can help you expand and balance your investment portfolio, for some it even provides a reliable stream of extra income which can be reinvested or simply saved away. Even in sluggish real estate markets, historical homes and neighborhoods are safe havens for your capital. Baton Rouge offers an array of appealing real estate options to choose from.
Honolulu Real Estate, an Island Invitation
Honolulu Real Estate, an Island Invitation
Considering a move to a Pacific island? Tired of long, cold winters and muggy, mosquito-infested hot summers? Enjoy the city life, the vibrancy and culture, the great food and nightlife, the ethnic diversity, and the economic opportunities? The answer to these questions may be found in Honolulu, Hawaii, a vibrant city of over 370,000 people, and home to famous Waikiki Beach, perhaps the most well-known sandy beach in the world, may be just what the doctor ordered.
In contrast to the housing crises on the U.S. Mainland, the real estate market in Hawaii is stable and well regulated, with little evidence of the sub-prime mortgage calamity that now plagues the Mainland.
Property in Hawaii runs the gamut from luxury beachfront and oceanfront homes and condos to small ranch homes on lovely, palm lined neighborhood streets. Much of this appealing real estate diversity is located in Honolulu, the largest city in the Hawaiian Islands, and located on the island of Oahu. Honolulu offers the cultural vibrancy, ethnic diversity, and good, old-fashioned chutzpah that characterizes every major city, worldwide. Well known for good schools, a low crime rate, an excellent public transportation grid, and abundant real estate property, Honolulu could be your next hometown.
Honolulu homes also offer proximity to Waikiki Beach, the Honolulu Zoo, as well as nearby Pearl Harbor, and Diamond Head. In addition, a home in Honolulu offers Kapiolani State Park, 500 acres of palm trees and ocean vistas, while not quite as renowned as Central Park in New York City, certainly has its charms.
The average sales price for a single family home on Oahu in 2008 was $792,520 and $383,418 for a condominium. While this may seem a bit daunting, an important thing to remember is that Honolulu real estate is holding its value; in most cases, increasing in value. This is no mean feat in today's housing crunch.
Then, again, most property available today, especially in the U.S. is not located on the ocean, amid tropical breezes, and gorgeous white sandy beaches. As well, Hawaii, in general, and Honolulu, in particular, resonates with people world-wide. Not to demean the good folks of, for instance Cleveland, Ohio, but they simply cannot say the same thing about their city.
All this is not to say that the Hawaiian real estate market is totally unaffected by the bursting of the housing bubble. Foreclosures have hit the islands, just as they've hit neighborhoods all over the nation. Think about it, a bargain is a bargain, but a bargain in the Honolulu is just a bit more of a bargain.
Honolulu is a Mecca for those looking to rent for a week, a month or a year. Rental unit vacancies in Honolulu are at about 8% right now, far below the figure for many resort communities around the world. This represents, of course, a perfect opportunity for real estate investment. Wouldn't it be refreshing to invest in a metropolitan area where your investment would flourish rather than stagnate?
Homes for sale in Honolulu represent not a housing crisis, but a real opportunity to live, work, raise a family, and take advantage that all this tropical paradise that is Hawaii has to offer.
Considering a move to a Pacific island? Tired of long, cold winters and muggy, mosquito-infested hot summers? Enjoy the city life, the vibrancy and culture, the great food and nightlife, the ethnic diversity, and the economic opportunities? The answer to these questions may be found in Honolulu, Hawaii, a vibrant city of over 370,000 people, and home to famous Waikiki Beach, perhaps the most well-known sandy beach in the world, may be just what the doctor ordered.
In contrast to the housing crises on the U.S. Mainland, the real estate market in Hawaii is stable and well regulated, with little evidence of the sub-prime mortgage calamity that now plagues the Mainland.
Property in Hawaii runs the gamut from luxury beachfront and oceanfront homes and condos to small ranch homes on lovely, palm lined neighborhood streets. Much of this appealing real estate diversity is located in Honolulu, the largest city in the Hawaiian Islands, and located on the island of Oahu. Honolulu offers the cultural vibrancy, ethnic diversity, and good, old-fashioned chutzpah that characterizes every major city, worldwide. Well known for good schools, a low crime rate, an excellent public transportation grid, and abundant real estate property, Honolulu could be your next hometown.
Honolulu homes also offer proximity to Waikiki Beach, the Honolulu Zoo, as well as nearby Pearl Harbor, and Diamond Head. In addition, a home in Honolulu offers Kapiolani State Park, 500 acres of palm trees and ocean vistas, while not quite as renowned as Central Park in New York City, certainly has its charms.
The average sales price for a single family home on Oahu in 2008 was $792,520 and $383,418 for a condominium. While this may seem a bit daunting, an important thing to remember is that Honolulu real estate is holding its value; in most cases, increasing in value. This is no mean feat in today's housing crunch.
Then, again, most property available today, especially in the U.S. is not located on the ocean, amid tropical breezes, and gorgeous white sandy beaches. As well, Hawaii, in general, and Honolulu, in particular, resonates with people world-wide. Not to demean the good folks of, for instance Cleveland, Ohio, but they simply cannot say the same thing about their city.
All this is not to say that the Hawaiian real estate market is totally unaffected by the bursting of the housing bubble. Foreclosures have hit the islands, just as they've hit neighborhoods all over the nation. Think about it, a bargain is a bargain, but a bargain in the Honolulu is just a bit more of a bargain.
Honolulu is a Mecca for those looking to rent for a week, a month or a year. Rental unit vacancies in Honolulu are at about 8% right now, far below the figure for many resort communities around the world. This represents, of course, a perfect opportunity for real estate investment. Wouldn't it be refreshing to invest in a metropolitan area where your investment would flourish rather than stagnate?
Homes for sale in Honolulu represent not a housing crisis, but a real opportunity to live, work, raise a family, and take advantage that all this tropical paradise that is Hawaii has to offer.
วันศุกร์ที่ 6 มีนาคม พ.ศ. 2552
How to Buy Property in Mexico
How to Buy Property in Mexico
Buying property in Mexico is much different than buying property here in the United States. In fact technically a foreigner is not even allowed to own property in Mexico. While this doesn't mean you can't get property in Mexico it does mean you have to take careful steps to ensure you are doing the deal properly. Owning property in Mexico as a foreigner is known as owning in the Restricted Zone. Because a foreigner cannot legally own property in the restricted Zone you will have to appoint a Mexican Bank to act on your behalf as a trustee. As the trustee the bank will legally own the property, but you will hold the exclusive rights of ownership and can improve, rent or sell the property as though it was your own. One of the most trusted banks in Mexico is Banamex, which is actually owned by Citigroup. The first thing you should do is hire an attorney. Make sure that the attorney is licensed to practice law in Mexico. Having an attorney with you can aid in the different legal proceedings that take place in Mexico when it comes to buying property. When you find a property in Mexico that you like, you need to make sure that the seller legally owns the property and can legally sell the property. If everything is alright with the property the seller should be able to provide you with a copy of the public deed stating ownership and a lien certificate with a description of the property. Have your attorney check to make sure that the paperwork is in order. Next comes the offer. The offer should be done in written contract form and it is a good idea to have a copy done in both English and Spanish. The offer is usually accompanied with a deposit of between five and ten percent of the offer price. The contract is known as a "promise to buy" and the buying process begins after the seller accepts the offer. Once the seller accepts the offer, the buyer is normally expected to deposit half of the closing costs as spelled out in the offer to buy. With any type of real estate acquisition, foreigners always need to register the ownership at the Ministry of Foreign Affairs. The rights to ownership are granted when you agrees to comply with Mexican law and to waive their rights to foreign government intervention. By doing so, you are considered as a Mexican National with the corresponding rights. In the case of acquisition of property in the Restricted Zone, it is the bank that requests the acquisition of the property at the Ministry of Foreign Affairs. Once all is in order you are now ready to close on the property. The signing of all contracts or the "closing" must happen in front of a Notary Public. Before all the papers are signed you will be required to deposit the remaining money needed to complete the transaction. Once the contracts are all signed the funds are transferred to the seller and the property is transferred to the buyer. Transfer of the property typically is completed within 45 days. After that you –or rather the Mexican Bank- will own a great piece of property in Mexico.
Buying property in Mexico is much different than buying property here in the United States. In fact technically a foreigner is not even allowed to own property in Mexico. While this doesn't mean you can't get property in Mexico it does mean you have to take careful steps to ensure you are doing the deal properly. Owning property in Mexico as a foreigner is known as owning in the Restricted Zone. Because a foreigner cannot legally own property in the restricted Zone you will have to appoint a Mexican Bank to act on your behalf as a trustee. As the trustee the bank will legally own the property, but you will hold the exclusive rights of ownership and can improve, rent or sell the property as though it was your own. One of the most trusted banks in Mexico is Banamex, which is actually owned by Citigroup. The first thing you should do is hire an attorney. Make sure that the attorney is licensed to practice law in Mexico. Having an attorney with you can aid in the different legal proceedings that take place in Mexico when it comes to buying property. When you find a property in Mexico that you like, you need to make sure that the seller legally owns the property and can legally sell the property. If everything is alright with the property the seller should be able to provide you with a copy of the public deed stating ownership and a lien certificate with a description of the property. Have your attorney check to make sure that the paperwork is in order. Next comes the offer. The offer should be done in written contract form and it is a good idea to have a copy done in both English and Spanish. The offer is usually accompanied with a deposit of between five and ten percent of the offer price. The contract is known as a "promise to buy" and the buying process begins after the seller accepts the offer. Once the seller accepts the offer, the buyer is normally expected to deposit half of the closing costs as spelled out in the offer to buy. With any type of real estate acquisition, foreigners always need to register the ownership at the Ministry of Foreign Affairs. The rights to ownership are granted when you agrees to comply with Mexican law and to waive their rights to foreign government intervention. By doing so, you are considered as a Mexican National with the corresponding rights. In the case of acquisition of property in the Restricted Zone, it is the bank that requests the acquisition of the property at the Ministry of Foreign Affairs. Once all is in order you are now ready to close on the property. The signing of all contracts or the "closing" must happen in front of a Notary Public. Before all the papers are signed you will be required to deposit the remaining money needed to complete the transaction. Once the contracts are all signed the funds are transferred to the seller and the property is transferred to the buyer. Transfer of the property typically is completed within 45 days. After that you –or rather the Mexican Bank- will own a great piece of property in Mexico.
Self Directed IRA Turns Condemned House Into Investment
Self Directed IRA Turns Condemned House Into Investment
Investor Don Pettit is always looking for opportunity, especially in today's distressed Northern Virginia real estate market. Don and his business partner, contractor Rick Steeby, look for houses to rehabilitate and resell, typically with a holding period of less than six months. Recently, Rick received a call from an elderly widow desperately looking to dispose of a dilapidated house. The house had been condemned and was about to be sold to satisfy the county's judgment. The homeowner – facing a ninety day court order to renovate the house or be severely fined -- was at her wits end. Fortunately Rick and Don had a plan to help her. They worked with the owner to get a court order enabling them to purchase the house, which they plan to tear down. They then have the option to sell the lot or rebuild on the now vacant lot. Don and Jack were able to move quickly partly because of the unusual structure of Don's self-directed IRA account, which Don used to make the purchase. Don uses an Administrative Manager of his self directed IRA. This company created a special purpose limited liability company for Don's IRA, thereby enabling him to make opportunistic investments. They even wired Don the cash he needed to make the purchase the same day he requested it and took care of all of the back-office details. Don and Jack plan to make a good profit on their investment, and Don's share will be tax deferred as a part of his IRA. And the property owner? She put cash in her pocket rather than having to spend money she could not afford to "rehabilitate" a property that needed to be torn down. This is just one more success story from those that use a self directed IRA.In another story we have Ray Millette who was in the final stages of opening a restaurant, Da Beef King, but he was a little short on cash due to last minute expenses that were higher than he had expected. $25,000 short to be exact. Lucky for Ray, he had a friend who had faith in both Ray and the Aurora, IL restaurant and was determined to help. Ray's friend, David Kerlagon, worked with his self directed IRA administrator and Dave's IRA loaned his friend the $25,000 he needed. Dave knew that the mortality of new restaurants was high, and he also did not want to commit his IRA funds for an extended period of time. And of course he wanted a great return for the risk he was assuming. Therefore, Dave structured his loan so that he receives 2% of the restaurant's total monthly revenue as interest. Even if a principal payment is made, Dave will continue to receive the 2% until the principal is paid in full. Clearly, the borrower has a strong incentive to repay the loan as soon as possible! But even if the restaurant fails, Dave is protected. If for some reason the restaurant didn't open or stay in business long enough to repay the loan, his friend has personally guaranteed the loan and will pay Dave 10% interest on any balance. Self directed IRA investing can be very flexible. As Dave demonstrated, the IRA's owner can set the terms and make sure he has plenty of security. Of course, self-directed IRA investing is also full of potential problems, including prohibited transactions and disqualified persons, but Dave's self directed IRA administrator was available to help Dave navigate through any problem areas. The restaurant opened; Dave got a great return on his investment; and self directed IRA administrator took care of the back-office details. Self directed IRA investing doesn't get any better than this. Self directed IRA investing allows investors to participate in the myriad of businesses and franchises that are starting and growing around the world. Gone are the days when IRA's were only associated with stocks, bonds and mutual funds. Today's savvy investor is looking to private businesses and cashing in on the great growth opportunity private equity investing offers their retirement portfolios.
Investor Don Pettit is always looking for opportunity, especially in today's distressed Northern Virginia real estate market. Don and his business partner, contractor Rick Steeby, look for houses to rehabilitate and resell, typically with a holding period of less than six months. Recently, Rick received a call from an elderly widow desperately looking to dispose of a dilapidated house. The house had been condemned and was about to be sold to satisfy the county's judgment. The homeowner – facing a ninety day court order to renovate the house or be severely fined -- was at her wits end. Fortunately Rick and Don had a plan to help her. They worked with the owner to get a court order enabling them to purchase the house, which they plan to tear down. They then have the option to sell the lot or rebuild on the now vacant lot. Don and Jack were able to move quickly partly because of the unusual structure of Don's self-directed IRA account, which Don used to make the purchase. Don uses an Administrative Manager of his self directed IRA. This company created a special purpose limited liability company for Don's IRA, thereby enabling him to make opportunistic investments. They even wired Don the cash he needed to make the purchase the same day he requested it and took care of all of the back-office details. Don and Jack plan to make a good profit on their investment, and Don's share will be tax deferred as a part of his IRA. And the property owner? She put cash in her pocket rather than having to spend money she could not afford to "rehabilitate" a property that needed to be torn down. This is just one more success story from those that use a self directed IRA.In another story we have Ray Millette who was in the final stages of opening a restaurant, Da Beef King, but he was a little short on cash due to last minute expenses that were higher than he had expected. $25,000 short to be exact. Lucky for Ray, he had a friend who had faith in both Ray and the Aurora, IL restaurant and was determined to help. Ray's friend, David Kerlagon, worked with his self directed IRA administrator and Dave's IRA loaned his friend the $25,000 he needed. Dave knew that the mortality of new restaurants was high, and he also did not want to commit his IRA funds for an extended period of time. And of course he wanted a great return for the risk he was assuming. Therefore, Dave structured his loan so that he receives 2% of the restaurant's total monthly revenue as interest. Even if a principal payment is made, Dave will continue to receive the 2% until the principal is paid in full. Clearly, the borrower has a strong incentive to repay the loan as soon as possible! But even if the restaurant fails, Dave is protected. If for some reason the restaurant didn't open or stay in business long enough to repay the loan, his friend has personally guaranteed the loan and will pay Dave 10% interest on any balance. Self directed IRA investing can be very flexible. As Dave demonstrated, the IRA's owner can set the terms and make sure he has plenty of security. Of course, self-directed IRA investing is also full of potential problems, including prohibited transactions and disqualified persons, but Dave's self directed IRA administrator was available to help Dave navigate through any problem areas. The restaurant opened; Dave got a great return on his investment; and self directed IRA administrator took care of the back-office details. Self directed IRA investing doesn't get any better than this. Self directed IRA investing allows investors to participate in the myriad of businesses and franchises that are starting and growing around the world. Gone are the days when IRA's were only associated with stocks, bonds and mutual funds. Today's savvy investor is looking to private businesses and cashing in on the great growth opportunity private equity investing offers their retirement portfolios.
How to Save Money With a Home Inspection
How to Save Money With a Home Inspection
Buying a home is a very important financial transaction. For most, it is the largest one they will ever make. To ensure that you are buying a sound property, enlist the help of a professional home inspector. You may also want to make the purchase of your new home to be conditional upon a satisfactory inspection. Let's look at what would make a home inspection 'satisfactory'. If you live in a climate where termites are a problem, you should invest in a termite and pest inspection. This is not an area usually checked by most home inspectors. It is worth the extra money as termites, carpenter ants, even mice can weaken walls and floors, and cost you thousands of dollars in repairs. A professional home inspector will look at every mechanical and structural aspects of a property. The first thing an inspector will verify is the foundation. He will look for large cracks, verify for level ground and look for water penetration. Problems can be detected by mold or mildew and by a white powdery material which indicates penetration points. Some home inspectors will also check for radon gas concentrations. The foundations of the house will be evaluated for proper joints, angles, and materials used. The walls rising from the foundations will be inspected for incorrect framing and possible water damage. Next comes the mechanical inspection where walls, plumbing and electrical systems are inspected for damage, non-code compliant construction, or wear and tear. Pipes will be checked for rust, lead, or other chemical issues and visible leaks will be noted. The electrical system will be inspected to determine if there is any faulty wiring, inadequate circuit breakers, uncovered switches or receptacles, incorrect grounding, or bad GFCI trips. The home inspector will go up in the attic to look at the framing. Angles and strength will be evaluated and any air or water leaks or other damage will be noted. The underside of the roof will be examined for tears or holes and outside vents will be inspected for proper seal. The inspector will also get up on the roof to look at the general condition of the roof. Any holes, loose tile, bad flashing or any other weakness will be listed. The home inspector will walk around the house to look for leaky faucets and improper flow. Close attention will be given to the heating and air conditioning systems to evaluate duct leaks, filter condition, and adequate capacity and flow. The furnace and water heater will be checked to ensure compliance with current standards. Gas or wood stoves will also be looked at to ensure physical integrity and proper function. These are just some of the items that are inspected during a home inspected. All the findings will be noted in a binder which is then given to the person who paid for the home inspection. Homes inspection are a tool for potential buyers, as it lists all the defective items in the home which will give the potential buyer leverage when negotiating the selling price. A home inspection can also benefit the seller. Any repairs or improvements can be done before placing the house on the market. An investment of just a few hundred dollars can provide peace of mind and save the buyer thousands of dollars in the long run.
Buying a home is a very important financial transaction. For most, it is the largest one they will ever make. To ensure that you are buying a sound property, enlist the help of a professional home inspector. You may also want to make the purchase of your new home to be conditional upon a satisfactory inspection. Let's look at what would make a home inspection 'satisfactory'. If you live in a climate where termites are a problem, you should invest in a termite and pest inspection. This is not an area usually checked by most home inspectors. It is worth the extra money as termites, carpenter ants, even mice can weaken walls and floors, and cost you thousands of dollars in repairs. A professional home inspector will look at every mechanical and structural aspects of a property. The first thing an inspector will verify is the foundation. He will look for large cracks, verify for level ground and look for water penetration. Problems can be detected by mold or mildew and by a white powdery material which indicates penetration points. Some home inspectors will also check for radon gas concentrations. The foundations of the house will be evaluated for proper joints, angles, and materials used. The walls rising from the foundations will be inspected for incorrect framing and possible water damage. Next comes the mechanical inspection where walls, plumbing and electrical systems are inspected for damage, non-code compliant construction, or wear and tear. Pipes will be checked for rust, lead, or other chemical issues and visible leaks will be noted. The electrical system will be inspected to determine if there is any faulty wiring, inadequate circuit breakers, uncovered switches or receptacles, incorrect grounding, or bad GFCI trips. The home inspector will go up in the attic to look at the framing. Angles and strength will be evaluated and any air or water leaks or other damage will be noted. The underside of the roof will be examined for tears or holes and outside vents will be inspected for proper seal. The inspector will also get up on the roof to look at the general condition of the roof. Any holes, loose tile, bad flashing or any other weakness will be listed. The home inspector will walk around the house to look for leaky faucets and improper flow. Close attention will be given to the heating and air conditioning systems to evaluate duct leaks, filter condition, and adequate capacity and flow. The furnace and water heater will be checked to ensure compliance with current standards. Gas or wood stoves will also be looked at to ensure physical integrity and proper function. These are just some of the items that are inspected during a home inspected. All the findings will be noted in a binder which is then given to the person who paid for the home inspection. Homes inspection are a tool for potential buyers, as it lists all the defective items in the home which will give the potential buyer leverage when negotiating the selling price. A home inspection can also benefit the seller. Any repairs or improvements can be done before placing the house on the market. An investment of just a few hundred dollars can provide peace of mind and save the buyer thousands of dollars in the long run.
To Use Or Not to Use a Real Estate Agent?
To Use Or Not to Use a Real Estate Agent?
With the current state of the economy and the wild growth of the Internet, many home owners are considering selling their homes themselves. Many think that selling a home is a simple process however, real estate agents do earn their commission. A real estate agent will provide information and expertise on the market and how the sale process works. Your agent will help sell your house faster by advertising it widely and he will also assist in negotiating the best possible price and ensure the closing of the sale is done smoothly. However, a 5% commission rate may seem steep to some home owners. 5% of $300,000 is still $15,000 and many owners find the prospect of parting with that money unbearable. Here are a few things to consider when choosing where to sell your home by yourself or enlist the help of a real estate agent. One of the most important aspect of selling any home is market knowledge. To sell your home rapidly and for a profit you must know what it's worth. Listing your home even 1% above its market value may damage your chances of a quick sale and you may end up with a lower final sale price than the house should have fetched. This is where a real estate agent comes in handy. Your agent will provide with a list of comparable properties that have sold recently in your area and will help you determine a reasonable selling price for your home. However, with the current wealth of information available on the Internet nowadays, for sale by owner (FSBO) are becoming more and more popular. If you know how to access this type of real estate information, going the FSBO route may be an option for you. A real estate agent will place your property in a database MLS, a Multiple Listing Service. This database is accessible only to registered real estate agents. This is where an agent will find current properties and market information as well as an archive or all past sales. Using the MLS is only one of the steps in your agent's arsenal to advertise your property to potential buyers. Advertising, websites, open houses are some of the other tools available to your agent. Some may argue that a home owner can do all this himself, except for the MLS listing. Just keep in mind that the advertising, open houses, etc are included in your agent's commission whereas you would need to pay for these yourself in a FSBO situation. Next comes the negotiations and closing process. Some individuals are natural negotiators and enjoy the process while others may find the whole process highly unpleasant. You need to determine if this is something you think you will be able and enjoy doing. The final step of the real estate transaction is the closing. Each state and country has a complicated set of laws outlining how a real estate transaction should be performed. Deposits must be made at the right time and in the correct amount in an escrow account. Property title must be investigated. There are a number of details that must be addressed before a transfer of ownership can be completed. Your real estate agent can assist you throughout the whole process. On the other hand, there are many books available, Internet sites, and low-cost 'seller assistance' businesses that can help demystify the home selling process. The question is, do you feel confident that you can handle all the aspect of the real estate transaction yourself or would you be more comfortable enlisting the help of an experienced real estate agent.
With the current state of the economy and the wild growth of the Internet, many home owners are considering selling their homes themselves. Many think that selling a home is a simple process however, real estate agents do earn their commission. A real estate agent will provide information and expertise on the market and how the sale process works. Your agent will help sell your house faster by advertising it widely and he will also assist in negotiating the best possible price and ensure the closing of the sale is done smoothly. However, a 5% commission rate may seem steep to some home owners. 5% of $300,000 is still $15,000 and many owners find the prospect of parting with that money unbearable. Here are a few things to consider when choosing where to sell your home by yourself or enlist the help of a real estate agent. One of the most important aspect of selling any home is market knowledge. To sell your home rapidly and for a profit you must know what it's worth. Listing your home even 1% above its market value may damage your chances of a quick sale and you may end up with a lower final sale price than the house should have fetched. This is where a real estate agent comes in handy. Your agent will provide with a list of comparable properties that have sold recently in your area and will help you determine a reasonable selling price for your home. However, with the current wealth of information available on the Internet nowadays, for sale by owner (FSBO) are becoming more and more popular. If you know how to access this type of real estate information, going the FSBO route may be an option for you. A real estate agent will place your property in a database MLS, a Multiple Listing Service. This database is accessible only to registered real estate agents. This is where an agent will find current properties and market information as well as an archive or all past sales. Using the MLS is only one of the steps in your agent's arsenal to advertise your property to potential buyers. Advertising, websites, open houses are some of the other tools available to your agent. Some may argue that a home owner can do all this himself, except for the MLS listing. Just keep in mind that the advertising, open houses, etc are included in your agent's commission whereas you would need to pay for these yourself in a FSBO situation. Next comes the negotiations and closing process. Some individuals are natural negotiators and enjoy the process while others may find the whole process highly unpleasant. You need to determine if this is something you think you will be able and enjoy doing. The final step of the real estate transaction is the closing. Each state and country has a complicated set of laws outlining how a real estate transaction should be performed. Deposits must be made at the right time and in the correct amount in an escrow account. Property title must be investigated. There are a number of details that must be addressed before a transfer of ownership can be completed. Your real estate agent can assist you throughout the whole process. On the other hand, there are many books available, Internet sites, and low-cost 'seller assistance' businesses that can help demystify the home selling process. The question is, do you feel confident that you can handle all the aspect of the real estate transaction yourself or would you be more comfortable enlisting the help of an experienced real estate agent.
Creative Ways of Financing For Real Estate Investors
Creative Ways of Financing For Real Estate Investors
The traditional way of obtaining financing for a property has been by the buyer putting down 20 percent or more of their own money in order to get a loan for the remaining 80 percent. But times have changed and there are many more available options. With today's lending institutions there are literally dozens of different lending products and financing options that are available for real estate investors or those looking to purchase a primary residence. Obtaining a line of credit is one of these financing options. In this scenario the buyer would have 5 percent of their own money as down payment. The remaining 15 percent could be had by taking out a line of credit. And while the line of credit interest rate would be higher than a traditional mortgage the monthly payments may still be fairly low since the loan amount is relatively small. There is, however, a down side to having a less than the 20 or 25 percent down payment for a property and that is it usually requires that the buyer obtain private mortgage insurance. The insurance fee is based on the mortgage amount and can be quite high. So putting a down payment of at least 20-25 percent will save you quite a bit on your monthly payments. There are other ways of finding financing. For example when looking to purchase a new home from a large builder. Sometimes the builder is willing to offer their own financing package for early buyers. This can be for as little as 5 percent of the total purchase price. For those who are willing to take on a bit more risk there are ways to buy a property and flip it even before the closing date. In this case a buyer would sign the purchase agreement and then immediately try to find another buyer. Here you are not really selling the property but the purchase agreement itself. On closing the property would change hands twice and the original buyer could make a few thousand dollars in profit without ever taking possession. This type of transaction should be let to experienced investors. Partnerships are another way of being able to get a mortgage especially for investment purposes. Partnership agreements can range from each party putting down the same amount as down payment, but it can also be structured so that one person has the down payment and the other partner would carry out the repairs or renovations. Upon the sale of the property the profits would be split according the amount of money that was originally invested. Government incentive programs can also be used but you should look closely as to who qualifies and the terms. These programs are also usually only available for those looking to a property as their primary residence but it can be an excellent way to get in to the real estate market. Money from friends or family members can be used as a down payment however most lending institutions require proof that the funds were a gift and not just another loan. You will also still have to qualify for the monthly payments. Researching all the available mortgage options will allow you to make the best decision for your investment situation. Just remember that it is not free money and that you goal is to invest in real estate and turn a profit.
A real estate professional Yannick Picard specializes in downtown Toronto condos and is an expert on the local housing market. Visit his site to search for homes, condominiums or Toronto lofts for sale and all of your real estate needs.
The traditional way of obtaining financing for a property has been by the buyer putting down 20 percent or more of their own money in order to get a loan for the remaining 80 percent. But times have changed and there are many more available options. With today's lending institutions there are literally dozens of different lending products and financing options that are available for real estate investors or those looking to purchase a primary residence. Obtaining a line of credit is one of these financing options. In this scenario the buyer would have 5 percent of their own money as down payment. The remaining 15 percent could be had by taking out a line of credit. And while the line of credit interest rate would be higher than a traditional mortgage the monthly payments may still be fairly low since the loan amount is relatively small. There is, however, a down side to having a less than the 20 or 25 percent down payment for a property and that is it usually requires that the buyer obtain private mortgage insurance. The insurance fee is based on the mortgage amount and can be quite high. So putting a down payment of at least 20-25 percent will save you quite a bit on your monthly payments. There are other ways of finding financing. For example when looking to purchase a new home from a large builder. Sometimes the builder is willing to offer their own financing package for early buyers. This can be for as little as 5 percent of the total purchase price. For those who are willing to take on a bit more risk there are ways to buy a property and flip it even before the closing date. In this case a buyer would sign the purchase agreement and then immediately try to find another buyer. Here you are not really selling the property but the purchase agreement itself. On closing the property would change hands twice and the original buyer could make a few thousand dollars in profit without ever taking possession. This type of transaction should be let to experienced investors. Partnerships are another way of being able to get a mortgage especially for investment purposes. Partnership agreements can range from each party putting down the same amount as down payment, but it can also be structured so that one person has the down payment and the other partner would carry out the repairs or renovations. Upon the sale of the property the profits would be split according the amount of money that was originally invested. Government incentive programs can also be used but you should look closely as to who qualifies and the terms. These programs are also usually only available for those looking to a property as their primary residence but it can be an excellent way to get in to the real estate market. Money from friends or family members can be used as a down payment however most lending institutions require proof that the funds were a gift and not just another loan. You will also still have to qualify for the monthly payments. Researching all the available mortgage options will allow you to make the best decision for your investment situation. Just remember that it is not free money and that you goal is to invest in real estate and turn a profit.
A real estate professional Yannick Picard specializes in downtown Toronto condos and is an expert on the local housing market. Visit his site to search for homes, condominiums or Toronto lofts for sale and all of your real estate needs.
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