West Austin Real Estate: Falconhead
by Joe Cline
Falconhead is one of the most beautiful golf communities available anywhere in the country. With a laid-back atmosphere and a prime location, this neighborhood is one of the most desirable communities within the west Austin area. Falconhead is a welcoming retreat for those who are looking at retiring, but want access to the best the city has to offer or even for those who want a quiet and comfortable place to raise their family.
History
While the community of Falconhead is quite new, only being in existence since 2003, the area in which it in located has an extensive and interesting history. Bee Cave has been in existence for well over one hundred years. The town has always been a small community, where the ideals and regulations of city government were deemed unnecessary and undesirable. In the 1980's, Austin was beginning to annex many local areas and the citizens of Bee Cave banded together to incorporate the Village of Bee Cave and prevent annexation. In 2003, the Falconhead golf course was built in the town, and the Falconhead community along with it.
Economy/Jobs
Falconhead's proximity to Austin allows residents to have the full benefit of the stable economy and job market of the city, while being situated outside the city, itself. One of the more affluent communities in the area, Falconhead residents have a median income of $128,501, which is well beyond the median income for the state of Texas and even the city of Austin. Area unemployment rates are well below the national average, coming in at 3.4 percent in April of 2008. Major employers in the area include Dell, IBM, and Motorola. Forbes magazine has recently given Austin the honor of being one of the most recession-proof cities in the country, and that feature is the same for all of the local communities.
Falconhead Real Estate
Homes in the Falconhead community are among some of the most beautiful in the entire Austin area. This exclusive community has amazing homes with a median selling price of $440, 230, though it is possible to find area homes ranging from $300,000 to well over $1 million. As the community is a more recent addition to the area, the majority of the homes are newer and there is a wide range of new construction and open lots available for purchase. More than ninety percent of the homes in the area are owner-occupied; however, there are some homes that are available for rent and leasing options.
Attractions
The premier attraction of living at Falconhead is the amazing golf course. Falconhead was built around the country's first PGA Signature Series golf course, which was designed by the PGA Tour Design Center. The 18-hole course opened in 2003 and includes features such as a clubhouse, pro shop, and driving range. Off the course, residents can enjoy shopping and dining in a variety of local restaurants and stores. With just a quick drive, all of the offerings of the city of Austin are at the fingertips of the Falconhead locals.
วันพฤหัสบดีที่ 17 กรกฎาคม พ.ศ. 2551
วันอาทิตย์ที่ 13 กรกฎาคม พ.ศ. 2551
What Is A Real Estate Wholesaler
What Is A Real Estate Wholesaler
by David Cowley
A real estate wholesaler is someone that purchases or takes control of properties that have a lot of equity in them and sells the properties to investors for a profit. Just like a wholesaler of washing machines the wholesaler is trying to sell his products to retailers, rehabbers, investors and in some cases to the end consumer. The real estate wholesaler will always have some financial obligation in the properties. The wholesaler may have purchased the property outright or will have purchased an option on the property to purchase the property at a specified price by a specific date. If no money has changed hands then you are not a wholesaler, you are considered to be a bird dog or a jobber.
Where do wholesalers find properties?
Fundamentally a wholesaler is looking for properties that have a lot of equity, and for some reason the seller are selling the property below market value. These could be homes that are in foreclosures, tax sales, bank sales, builders, tired landlords, estate sales and inherited properties with out of area owners and so on.
Foreclosures:
Foreclosures are properties that banks and mortgage companies have made loan on for but the owner of the property is unable or unwilling to continue to making payments. The lending companies usually have worked with the home owner for a number of years trying to resolve the financial problem. The mortgage will be several thousands of dollars in the arrears and the home owner is about to have his credit severely impacted. If the property has gone into the foreclosure process the time available for the wholesaler to close the deal is only from a few days to a few weeks.
Your job Mr. Wholesaler, should you decide to accept it, is to get the outstanding loan paid for or at least out of arrears and to keep the home owners credit from becoming impacted. This deal will self destruct is a few days.
The real estate wholesaler may purchase the property from the lending institution for the outstanding loan price or even lower. If the wholesaler is able to purchase the property below the outstanding loan price it the esthetical responsibility of the wholesaler to negotiate with the lending institution to not try and collect the remaining amount from the owner of the home.
Tax sales:
Tax sales are usually on unimproved land with no outstanding mortgages. Land may have been purchased for speculation or someone may have inherited the land from someone but they are no longer willing or able to make the tax payments. There are exceptions of course, but finding a tax sale on a home that is unencumbered with leans or loans is very rare.
Bank sales and auctions:
Auctions and bank sales are properties that have already gone through the foreclosure process and are offered to the general public. Normally a 5 to 10 percent down payment is required after a successful bid. The auctions are for cash only and are not contingent on the buyer's ability to obtain financing. Auctions obligate the buyer to purchase the property but it does not obligate the seller to accept the bid. It may take several weeks for the seller to decide to accept the bid or not to accept the bid.
Builders:
Sometimes a builder will not be able to sell all of the properties built by that company. Some below market value new homes are available when a builder has overextended themselves and need the cash to continue to build new homes or to satisfy lending requirements.
Tired landlords:
Some landlords are retiring and ready to move out of the area and are looking to unencumbered themselves from the properties. Out of area landlords and landlords that are just tired of managing properties sometimes are willing to sell properties below market value. The properties may require repair and usually they are not being managed properly.
Where do wholesalers sell there properties?
Properties that are in need of repair are usually sold to rehabbers for fix up or to handyman owners looking for a good deal. Properties that are not in need of repair are usually sold to investors.
How do wholesalers get started?
Join real estate investment groups in your area. Start networking with other wholesalers and investors. If you have a property to sell ask the wholesalers for someone to sell to. It may cost you a $3,000 assignment fee. If you have a buyer call the wholesalers for properties that they cannon sell. This may get you a $3,000 assignment fee.
A good real estate wholesaler will have acquired a list of investors and rehabbers over the years. You only need a small handful of experienced investors and rehabbers that do not have the time to spend hunting down great real estate deals. A wholesaler wants to buy and sell as quickly as possible with a reasonable amount of profit. He is not in the business of long term real estate investment. Wholesalers that try and make a killing on each and every property and if the wholesaler takes advantaged of distressed home owners are usually not in business very long.
by David Cowley
A real estate wholesaler is someone that purchases or takes control of properties that have a lot of equity in them and sells the properties to investors for a profit. Just like a wholesaler of washing machines the wholesaler is trying to sell his products to retailers, rehabbers, investors and in some cases to the end consumer. The real estate wholesaler will always have some financial obligation in the properties. The wholesaler may have purchased the property outright or will have purchased an option on the property to purchase the property at a specified price by a specific date. If no money has changed hands then you are not a wholesaler, you are considered to be a bird dog or a jobber.
Where do wholesalers find properties?
Fundamentally a wholesaler is looking for properties that have a lot of equity, and for some reason the seller are selling the property below market value. These could be homes that are in foreclosures, tax sales, bank sales, builders, tired landlords, estate sales and inherited properties with out of area owners and so on.
Foreclosures:
Foreclosures are properties that banks and mortgage companies have made loan on for but the owner of the property is unable or unwilling to continue to making payments. The lending companies usually have worked with the home owner for a number of years trying to resolve the financial problem. The mortgage will be several thousands of dollars in the arrears and the home owner is about to have his credit severely impacted. If the property has gone into the foreclosure process the time available for the wholesaler to close the deal is only from a few days to a few weeks.
Your job Mr. Wholesaler, should you decide to accept it, is to get the outstanding loan paid for or at least out of arrears and to keep the home owners credit from becoming impacted. This deal will self destruct is a few days.
The real estate wholesaler may purchase the property from the lending institution for the outstanding loan price or even lower. If the wholesaler is able to purchase the property below the outstanding loan price it the esthetical responsibility of the wholesaler to negotiate with the lending institution to not try and collect the remaining amount from the owner of the home.
Tax sales:
Tax sales are usually on unimproved land with no outstanding mortgages. Land may have been purchased for speculation or someone may have inherited the land from someone but they are no longer willing or able to make the tax payments. There are exceptions of course, but finding a tax sale on a home that is unencumbered with leans or loans is very rare.
Bank sales and auctions:
Auctions and bank sales are properties that have already gone through the foreclosure process and are offered to the general public. Normally a 5 to 10 percent down payment is required after a successful bid. The auctions are for cash only and are not contingent on the buyer's ability to obtain financing. Auctions obligate the buyer to purchase the property but it does not obligate the seller to accept the bid. It may take several weeks for the seller to decide to accept the bid or not to accept the bid.
Builders:
Sometimes a builder will not be able to sell all of the properties built by that company. Some below market value new homes are available when a builder has overextended themselves and need the cash to continue to build new homes or to satisfy lending requirements.
Tired landlords:
Some landlords are retiring and ready to move out of the area and are looking to unencumbered themselves from the properties. Out of area landlords and landlords that are just tired of managing properties sometimes are willing to sell properties below market value. The properties may require repair and usually they are not being managed properly.
Where do wholesalers sell there properties?
Properties that are in need of repair are usually sold to rehabbers for fix up or to handyman owners looking for a good deal. Properties that are not in need of repair are usually sold to investors.
How do wholesalers get started?
Join real estate investment groups in your area. Start networking with other wholesalers and investors. If you have a property to sell ask the wholesalers for someone to sell to. It may cost you a $3,000 assignment fee. If you have a buyer call the wholesalers for properties that they cannon sell. This may get you a $3,000 assignment fee.
A good real estate wholesaler will have acquired a list of investors and rehabbers over the years. You only need a small handful of experienced investors and rehabbers that do not have the time to spend hunting down great real estate deals. A wholesaler wants to buy and sell as quickly as possible with a reasonable amount of profit. He is not in the business of long term real estate investment. Wholesalers that try and make a killing on each and every property and if the wholesaler takes advantaged of distressed home owners are usually not in business very long.
5 Things to Consider When Looking at How to Choose a Real Estate Professional
5 Things to Consider When Looking at How to Choose a Real Estate Professional
by Harry Saggu
When selling your home or looking to purchase a home, finding a reliable real estate sales representative is essential. While this tends to be an obvious statement, many people do not know how to choose a real estate professional. It can take time to find the right sales representative for you. Here are five things to consider when looking for the perfect real estate professional.
1. Avoid duel agencies
Too many people fall into the problem of getting involved with dual agencies. A dual agency is one that represents both the buyer and the seller. The problem with this is it is virtually impossible to be equally represented. You want an agency that is going to get you the best offer possible, which is not that easy when you have an agency trying to get both sides a deal.
Typically when a real estate professional represents a buyer or a seller their duty is to get the buyer or seller the best possible terms and the best possible price. This can be difficult when the sales representative in representing both the buyer and seller. Before signing any contract, ask how the broker you wish to deal with would handle a potential dual agency situation and that you are comfortable with their answer.
2. Within your price range
Look into a brokerage that is used to handling homes within your price range. These brokerages will have much more experience and will know how to get you the best deal. If they are unfamiliar with your price range, sometimes the brokerage will not understand what a good deal is.
3. You have the power
While it is important you learn how to choose a real estate professional, it is also important you understand that you have the power. Once you have hired a real estate sales representative, they are working for you. Therefore, a quality professional is one that will listen to your wants and needs. And if they begin speaking a language you do not understand, they should have no problem explaining things to you in further detail.
4. Plan around your schedule
Remember that you are paying the sales representative to help you out. This means find an professional that can and will work around your schedule. If you work during the days and your sales representative works only during the days, you are never going to be able to get anything accomplished. Find a professional that can work for you whenever you need them.
5. The total package
When looking for a real estate professional, you want someone that can bring the total package. Your sales representative should be able to do much more than sell your home or help you find a home. They should arrange a house inspection, refer you to lending professionals, find real estate attorneys, and much more.
It is not the easiest thing to find a real estate professional. But if you want to know how to choose a real estate professional, the answer is to take the time to research. Look at the facets listed in this article and make sure the sales representative you settle with fits the criteria.
by Harry Saggu
When selling your home or looking to purchase a home, finding a reliable real estate sales representative is essential. While this tends to be an obvious statement, many people do not know how to choose a real estate professional. It can take time to find the right sales representative for you. Here are five things to consider when looking for the perfect real estate professional.
1. Avoid duel agencies
Too many people fall into the problem of getting involved with dual agencies. A dual agency is one that represents both the buyer and the seller. The problem with this is it is virtually impossible to be equally represented. You want an agency that is going to get you the best offer possible, which is not that easy when you have an agency trying to get both sides a deal.
Typically when a real estate professional represents a buyer or a seller their duty is to get the buyer or seller the best possible terms and the best possible price. This can be difficult when the sales representative in representing both the buyer and seller. Before signing any contract, ask how the broker you wish to deal with would handle a potential dual agency situation and that you are comfortable with their answer.
2. Within your price range
Look into a brokerage that is used to handling homes within your price range. These brokerages will have much more experience and will know how to get you the best deal. If they are unfamiliar with your price range, sometimes the brokerage will not understand what a good deal is.
3. You have the power
While it is important you learn how to choose a real estate professional, it is also important you understand that you have the power. Once you have hired a real estate sales representative, they are working for you. Therefore, a quality professional is one that will listen to your wants and needs. And if they begin speaking a language you do not understand, they should have no problem explaining things to you in further detail.
4. Plan around your schedule
Remember that you are paying the sales representative to help you out. This means find an professional that can and will work around your schedule. If you work during the days and your sales representative works only during the days, you are never going to be able to get anything accomplished. Find a professional that can work for you whenever you need them.
5. The total package
When looking for a real estate professional, you want someone that can bring the total package. Your sales representative should be able to do much more than sell your home or help you find a home. They should arrange a house inspection, refer you to lending professionals, find real estate attorneys, and much more.
It is not the easiest thing to find a real estate professional. But if you want to know how to choose a real estate professional, the answer is to take the time to research. Look at the facets listed in this article and make sure the sales representative you settle with fits the criteria.
Real Estate Foreclosers See Opportunity in Adversity
Real Estate Foreclosers See Opportunity in Adversity
by David Cowley
An interesting trend has sprung up in recent years and in areas that have been hard hit by poor economies resulting in foreclosers on real estate. Investors willing to invest in real estate foreclosers have moved in and purchased properties that have been seized by banks and lenders for unpaid mortgages. They do this in order to purchase the property for much less than market value in order to turn around and rent it out. This is a great opportunity for everyone in the area, not just the real estate investors themselves. What do we mean by this?
For one thing, people who have had their homes foreclosed still need a place to live. Very often they may have lost their jobs or have had to take employment that simply doesn't pay as much - working behind a counter instead of in an office, for instance. With investors coming into the area and buying up homes that have been foreclosed on that can be rented, then there is more rental property available for those who simply cannot afford a mortgage. Make no mistake, many lenders say that you can afford a mortgage for the same amount as paying rent, but this isn't always the case. Rental properties are typically more affordable, and real estate investors are providing some needed housing when nearby apartment complexes become full. Keep in mind also that when apartment complexes have few vacancies, they are less likely to offer discounts and deals on their rental prices, so by offering more homes for rent, investors in the real estate market are actually keep rental amounts competitive in the area.
Also, when a bank seizes a home due to an unpaid mortgage, they are really stuck with that property. Banks don't have staff on hand that can maintain the lawn or keep out vandals. When there are a large amount of foreclosures in one area, there are fewer buyers for any property, meaning the bank needs to somehow maintain the property, handle it being on the market, and so on. This is a lot of added expense for them. Real estate foreclosers offer a valuable service to the banks by purchasing the property, repairing it, and then handling all the rental paperwork and so on. Without them, the banks would have an entire treasure trove of unsold properties that they would somehow need to handle.
Because these homes are typically so much more affordable than most, anyone wanting to get started in the rental industry would do well to investigate real estate foreclosers as an opportunity. You can start with one particular property and handle the purchase, repairs, rental agreement and so on, without needing to buy an entire apartment complex or hire a maintenance company to do all this for you. Investing in the real estate foreclosers market will bring some challenges with it, as does renting out any property, but considering the small investment you may need to make for the large payoff, it is definitely worth investigating.
by David Cowley
An interesting trend has sprung up in recent years and in areas that have been hard hit by poor economies resulting in foreclosers on real estate. Investors willing to invest in real estate foreclosers have moved in and purchased properties that have been seized by banks and lenders for unpaid mortgages. They do this in order to purchase the property for much less than market value in order to turn around and rent it out. This is a great opportunity for everyone in the area, not just the real estate investors themselves. What do we mean by this?
For one thing, people who have had their homes foreclosed still need a place to live. Very often they may have lost their jobs or have had to take employment that simply doesn't pay as much - working behind a counter instead of in an office, for instance. With investors coming into the area and buying up homes that have been foreclosed on that can be rented, then there is more rental property available for those who simply cannot afford a mortgage. Make no mistake, many lenders say that you can afford a mortgage for the same amount as paying rent, but this isn't always the case. Rental properties are typically more affordable, and real estate investors are providing some needed housing when nearby apartment complexes become full. Keep in mind also that when apartment complexes have few vacancies, they are less likely to offer discounts and deals on their rental prices, so by offering more homes for rent, investors in the real estate market are actually keep rental amounts competitive in the area.
Also, when a bank seizes a home due to an unpaid mortgage, they are really stuck with that property. Banks don't have staff on hand that can maintain the lawn or keep out vandals. When there are a large amount of foreclosures in one area, there are fewer buyers for any property, meaning the bank needs to somehow maintain the property, handle it being on the market, and so on. This is a lot of added expense for them. Real estate foreclosers offer a valuable service to the banks by purchasing the property, repairing it, and then handling all the rental paperwork and so on. Without them, the banks would have an entire treasure trove of unsold properties that they would somehow need to handle.
Because these homes are typically so much more affordable than most, anyone wanting to get started in the rental industry would do well to investigate real estate foreclosers as an opportunity. You can start with one particular property and handle the purchase, repairs, rental agreement and so on, without needing to buy an entire apartment complex or hire a maintenance company to do all this for you. Investing in the real estate foreclosers market will bring some challenges with it, as does renting out any property, but considering the small investment you may need to make for the large payoff, it is definitely worth investigating.
Is The Future Of Real Estate Investment In Megapolitan Areas?
Is The Future Of Real Estate Investment In Megapolitan Areas?
by David Cowley
Experts believe that real estate development and building will produce some $25 trillion in revenue between now and the year 2030. Most also agree that most of that revenue will be filtered into and through the top ten megapolitan areas in the United States. This amount of revenue will completely eclipse the building boom that followed World War II and means an unprecedented amount of growth and opportunity for the investor.
Megapolitan is defined as two or more existing metropolitan areas that have grown together to become one huge area and the community boundaries have become blurred. An example of one such area is from San Diego through Santa Barbara. When driving from San Diego you will pass through Oceanside, Newport Beach, Long Beach, Los Angeles, Thousand Oaks, Oxnard, Ventura and Santa Barbara. It is very difficult to tell when you leave one city and enter another. Robert Lang of Virginia Tech urban studies has theorized that two-thirds of the population will live in 10 of these Megapolitan areas by the year 2040.
Atlantic Seaboard - extends from Boston through New York, Philadelphia and Washington.
Gulf Cost Belt - Brownsville, Corpus Christi, Huston, New Orleans to Mobile.
I 85 Corridor - Birmingham, Atlanta, Charlotte, Raleigh to Durham.
Valley of the Sun - Phoenix to Tucson.
Southern - Florida Miami, Tampa to Orlando.
Southland - Los Angeles to Las Vegas.
Great Lakes Area Detroit, Chicago to Pittsburg.
North California - San Francisco to Sacramento.
I 35 Corridor - San Antonio, Austin, Dallas, Ardmore, Okalahoma City to Kansas City.
Cascadian - Eugene, Portland to Seattle.
Megapolitan Areas will have certain characteristics in common. They will combine at least two existing metropolitan areas together. Each will total more than 10 million residents by 2040. They will have similar physical environment. Have very good transportation and supporting infrastructure. Goods and services flows freely from one urban area to another. They will also require a large geographical area that is suitable for large scale regional planning.
It's true that some of these megapolitan areas have been hit by economic troubles, but even CNN's Money Magazine agrees that these areas are some of the best for real estate development and investment. Just why is that, and what should you look for when trying to protect your investment in these areas?
Being careful about the industries that are supporting these megapolitan areas is of course very important. Investing in areas that have relied on the automotive industry or manufacturing may not be wise. However, megapolitan areas of New York and Charlotte, North Carolina, have done very well in the past few years because their dominant industries of advertising, banking, and investing have better track records than these other industries that are not as reliable. Absolutely nothing is completely secure or 100% reliable when it comes to business and industry, but obviously one can use some common sense when it comes to investing in certain areas.
Megapolitan areas are typically more desirable for industry and new business because they already have a ready workforce and developed real estate. A company looking to build a large factory or set up an administrative office is probably not going to choose a desolate area, even though the real estate may be more affordable. There is no population in this immediate area to support their business by way of personnel, vendors, and sometimes even roads and available homes. This is one of the reasons that megapolitan areas seem to consistently and constantly appeal to established industries and companies and startup businesses as well.
If you're looking for a solid real estate investment area, you may be attracted to more sparse areas because they are more affordable, but remember that sometimes you get what you pay for. Consider instead investing what you can in these already established megapolitan areas. By using some common sense and doing your homework, you're sure to find that it's the right choice.
by David Cowley
Experts believe that real estate development and building will produce some $25 trillion in revenue between now and the year 2030. Most also agree that most of that revenue will be filtered into and through the top ten megapolitan areas in the United States. This amount of revenue will completely eclipse the building boom that followed World War II and means an unprecedented amount of growth and opportunity for the investor.
Megapolitan is defined as two or more existing metropolitan areas that have grown together to become one huge area and the community boundaries have become blurred. An example of one such area is from San Diego through Santa Barbara. When driving from San Diego you will pass through Oceanside, Newport Beach, Long Beach, Los Angeles, Thousand Oaks, Oxnard, Ventura and Santa Barbara. It is very difficult to tell when you leave one city and enter another. Robert Lang of Virginia Tech urban studies has theorized that two-thirds of the population will live in 10 of these Megapolitan areas by the year 2040.
Atlantic Seaboard - extends from Boston through New York, Philadelphia and Washington.
Gulf Cost Belt - Brownsville, Corpus Christi, Huston, New Orleans to Mobile.
I 85 Corridor - Birmingham, Atlanta, Charlotte, Raleigh to Durham.
Valley of the Sun - Phoenix to Tucson.
Southern - Florida Miami, Tampa to Orlando.
Southland - Los Angeles to Las Vegas.
Great Lakes Area Detroit, Chicago to Pittsburg.
North California - San Francisco to Sacramento.
I 35 Corridor - San Antonio, Austin, Dallas, Ardmore, Okalahoma City to Kansas City.
Cascadian - Eugene, Portland to Seattle.
Megapolitan Areas will have certain characteristics in common. They will combine at least two existing metropolitan areas together. Each will total more than 10 million residents by 2040. They will have similar physical environment. Have very good transportation and supporting infrastructure. Goods and services flows freely from one urban area to another. They will also require a large geographical area that is suitable for large scale regional planning.
It's true that some of these megapolitan areas have been hit by economic troubles, but even CNN's Money Magazine agrees that these areas are some of the best for real estate development and investment. Just why is that, and what should you look for when trying to protect your investment in these areas?
Being careful about the industries that are supporting these megapolitan areas is of course very important. Investing in areas that have relied on the automotive industry or manufacturing may not be wise. However, megapolitan areas of New York and Charlotte, North Carolina, have done very well in the past few years because their dominant industries of advertising, banking, and investing have better track records than these other industries that are not as reliable. Absolutely nothing is completely secure or 100% reliable when it comes to business and industry, but obviously one can use some common sense when it comes to investing in certain areas.
Megapolitan areas are typically more desirable for industry and new business because they already have a ready workforce and developed real estate. A company looking to build a large factory or set up an administrative office is probably not going to choose a desolate area, even though the real estate may be more affordable. There is no population in this immediate area to support their business by way of personnel, vendors, and sometimes even roads and available homes. This is one of the reasons that megapolitan areas seem to consistently and constantly appeal to established industries and companies and startup businesses as well.
If you're looking for a solid real estate investment area, you may be attracted to more sparse areas because they are more affordable, but remember that sometimes you get what you pay for. Consider instead investing what you can in these already established megapolitan areas. By using some common sense and doing your homework, you're sure to find that it's the right choice.
Investing in South Texas Real Estate
Investing in South Texas Real Estate
by David Cowley
If there is any positive aspect to the foreclosure crisis that has gripped the U.S. in the past few years, it is that anyone interested in investing in real estate should be able to find appropriate properties at bargain basement prices. Homes can be purchased from banks at far less than their actual value, and business properties are also as affordable. And a very good reason to consider investing in south Texas real estate is because this area is one of the few in the country that is expecting steady population growth over the next several years.
Affordable Residential Real Estate
Unlike other areas of the country that have experienced such a population growth, south Texas real estate has not seen the median price of their residential homes skyrocket in proportion to that growth. This raise in median home prices was seen in California, Florida, and other areas of job growth but has not been seen in areas of Texas. This means that real estate is very affordable and ripe for investment dollars.
Qualified Buyers
In some areas of the country, there are affordable homes and jobs but this doesn't mean that those jobs are paying enough for people to buy those homes. When it comes to south Texas real estate, this just isn't the case. According to the Texas Housing Affordability Index, a Texas family earning the statewide median income has 152% of the income required to qualify for financing on the median-priced home. Nationally, families have about 16% more than what is required. Nationally a median home value is 3.62 times the median household income, but in Texas, the median value is only 2.52. This means that not only is there affordable housing in south Texas real estate but plenty of customers that can easily afford those homes as well.
Other Jobs on the Way
When an area of the country experiences a population growth, this means that there is a resultant strain on the area's infrastructure and resources, but there are tax dollars to correct this. This means jobs are then created to build and repair infrastructure and increase those resources. This means that as the real estate becomes more valuable, more support is needed and then created, which means more jobs and more valuable real estate created.
Some people purchase a vacation home now, intending to move there after retirement but you should remember that your life and your circumstances may be very different when you reach retirement age. When you're at retirement age, your knees may not appreciate being in a "winter wonderland" when you have arthritis and poor circulation. In order to make your vacation home a proper investment for your retirement years, you need to be practical and realistic. Weather will be a major factor for you to consider when you reach retirement age. Purchasing a vacation home for your enjoyment now can be a great investment for families who are looking forward to a permanent residence upon retirement.
Anyone considering an investment in real estate should consider south Texas. The jobs and economy are headed there, the weather is beautiful, and everything is booming. While no one wants to make light of the housing crisis that's affecting so many millions, this does mean that there are opportunities for others who want to park their investment dollars in a sure bet. And south Texas may be just the place they're looking for!
by David Cowley
If there is any positive aspect to the foreclosure crisis that has gripped the U.S. in the past few years, it is that anyone interested in investing in real estate should be able to find appropriate properties at bargain basement prices. Homes can be purchased from banks at far less than their actual value, and business properties are also as affordable. And a very good reason to consider investing in south Texas real estate is because this area is one of the few in the country that is expecting steady population growth over the next several years.
Affordable Residential Real Estate
Unlike other areas of the country that have experienced such a population growth, south Texas real estate has not seen the median price of their residential homes skyrocket in proportion to that growth. This raise in median home prices was seen in California, Florida, and other areas of job growth but has not been seen in areas of Texas. This means that real estate is very affordable and ripe for investment dollars.
Qualified Buyers
In some areas of the country, there are affordable homes and jobs but this doesn't mean that those jobs are paying enough for people to buy those homes. When it comes to south Texas real estate, this just isn't the case. According to the Texas Housing Affordability Index, a Texas family earning the statewide median income has 152% of the income required to qualify for financing on the median-priced home. Nationally, families have about 16% more than what is required. Nationally a median home value is 3.62 times the median household income, but in Texas, the median value is only 2.52. This means that not only is there affordable housing in south Texas real estate but plenty of customers that can easily afford those homes as well.
Other Jobs on the Way
When an area of the country experiences a population growth, this means that there is a resultant strain on the area's infrastructure and resources, but there are tax dollars to correct this. This means jobs are then created to build and repair infrastructure and increase those resources. This means that as the real estate becomes more valuable, more support is needed and then created, which means more jobs and more valuable real estate created.
Some people purchase a vacation home now, intending to move there after retirement but you should remember that your life and your circumstances may be very different when you reach retirement age. When you're at retirement age, your knees may not appreciate being in a "winter wonderland" when you have arthritis and poor circulation. In order to make your vacation home a proper investment for your retirement years, you need to be practical and realistic. Weather will be a major factor for you to consider when you reach retirement age. Purchasing a vacation home for your enjoyment now can be a great investment for families who are looking forward to a permanent residence upon retirement.
Anyone considering an investment in real estate should consider south Texas. The jobs and economy are headed there, the weather is beautiful, and everything is booming. While no one wants to make light of the housing crisis that's affecting so many millions, this does mean that there are opportunities for others who want to park their investment dollars in a sure bet. And south Texas may be just the place they're looking for!
What Is a Real Estate Rehabber
What Is a Real Estate Rehabber
by David Cowley
If you're unfamiliar with a real estate rehabber, this refers to someone that purchases a property with the sole purpose of fixing it up, renovating it, or otherwise upgrading it in order to sell it for a profit. A real estate rehabber typically has little or no interest or intent in actually living in or on this piece of property, and may hire out much of their work to a contractor or team. In addition they usually put a lot of their own time and energy into the property as well.
Obviously there is a certain amount of money that is needed to start out as a real estate rehabber. While you may be able to purchase a property with a short-term, low-interest rate mortgage that pretty much just gets the deed in your hands, you need to be aware of the fact that you will have a mortgage regardless of the amount of time the repairs on the property actually takes.
Depending on the amount of damage and needed repairs to the property, there is also a lot of investment income needed for the contractors that will assist you, along with materials. Even if you are very handy around the house and perhaps have been doing renovating for years, chances are there will be something - plumbing, wiring, roofing, landscaping - that will be outside your area of expertise. And of course no one can work alone, and even if you have friends and relatives help, their time is still worth something and you may be expected to compensate them in some way. And any experienced rehabber will tell you that there is always some unexpected repair or replacement that needs to be made - once you start tearing up carpet or pulling down walls, you never know what you may find. Having an adequate amount of capital or credit available is an absolute must.
There are of course legal considerations for any real estate rehabber. While there is no license that you actually need to simply purchase a home and resell it, there are permits that are required for renovating work and for doing anything that involves coming near the gas lines or water mains. You want to remember too that fixing up a property doesn't necessarily guarantee that it will sell for a profit, or that you'll recoup your costs, and the home may sit on the market for some time before it sells. Some real estate rehabbers have found that they have had to pay on a property for much longer than they expected, and of course your continued mortgage payment cuts into your profit margin. It takes years of experience to be able to maximize your profit but many people have found rehabbing as a great way to enter the real estate market.
Many have found that being a real estate rehabber is not only profitable, it's an incredibly interesting and satisfying way to make a living. And if you do it right, you can easily make a handsome profit as well.
by David Cowley
If you're unfamiliar with a real estate rehabber, this refers to someone that purchases a property with the sole purpose of fixing it up, renovating it, or otherwise upgrading it in order to sell it for a profit. A real estate rehabber typically has little or no interest or intent in actually living in or on this piece of property, and may hire out much of their work to a contractor or team. In addition they usually put a lot of their own time and energy into the property as well.
Obviously there is a certain amount of money that is needed to start out as a real estate rehabber. While you may be able to purchase a property with a short-term, low-interest rate mortgage that pretty much just gets the deed in your hands, you need to be aware of the fact that you will have a mortgage regardless of the amount of time the repairs on the property actually takes.
Depending on the amount of damage and needed repairs to the property, there is also a lot of investment income needed for the contractors that will assist you, along with materials. Even if you are very handy around the house and perhaps have been doing renovating for years, chances are there will be something - plumbing, wiring, roofing, landscaping - that will be outside your area of expertise. And of course no one can work alone, and even if you have friends and relatives help, their time is still worth something and you may be expected to compensate them in some way. And any experienced rehabber will tell you that there is always some unexpected repair or replacement that needs to be made - once you start tearing up carpet or pulling down walls, you never know what you may find. Having an adequate amount of capital or credit available is an absolute must.
There are of course legal considerations for any real estate rehabber. While there is no license that you actually need to simply purchase a home and resell it, there are permits that are required for renovating work and for doing anything that involves coming near the gas lines or water mains. You want to remember too that fixing up a property doesn't necessarily guarantee that it will sell for a profit, or that you'll recoup your costs, and the home may sit on the market for some time before it sells. Some real estate rehabbers have found that they have had to pay on a property for much longer than they expected, and of course your continued mortgage payment cuts into your profit margin. It takes years of experience to be able to maximize your profit but many people have found rehabbing as a great way to enter the real estate market.
Many have found that being a real estate rehabber is not only profitable, it's an incredibly interesting and satisfying way to make a living. And if you do it right, you can easily make a handsome profit as well.
สมัครสมาชิก:
บทความ (Atom)
.jpg)