วันอาทิตย์ที่ 30 พฤศจิกายน พ.ศ. 2551

"The Time Value of Money"

The time value of money (TVM) is an investment principle that states money is valued greater today than in the future due to inflation and economic conditions. Essentially, a dollar in your pocket today is worth more than a dollar in the future because money may be invested and earn interest over time. The notion of TVM is money is worth more the earlier it is received.

If you loaned a friend $20, would you rather get the money back today or a year from now? You should want the cash today. Think back to the price of movie tickets 10 years ago. The price for a movie ticket at one point was just a few dollars and has risen to almost $10 due to the factor of inflation. By receiving cash today, rather than the future, you can invest the money into an alternate source and potentially receive a higher return for your money. Future value includes the amount of money you would earn through growth in your investments in the future assuming a given interest rate. It is what the cash is worth at a particular time in the future, while present value refers to the value of a given sum of money today. The same principle applies to real estate notes. A real estate note, a mortgage for example, is created with specific terms, conditions and a length of time for its return. In order to exchange the note for cash, a note?s present value is determined through a discount analysis to appraise its current worth, which will differ from the note?s value in 10 years.

To demonstrate TVM and why it can be more advantageous to have money now rather than the future, consider the following example. If you own a real estate note that is appraised at present value for $150,000 you can cash out now and spend the money, or you can invest in alternate sources for a higher return on your investment. By receiving the money today, you can avoid dealing with late payments and the risk of not receiving a payment at all. Immediate cash appeals to most much more than receiving money in the future. The following illustration of TVM shows the change in value of $150,000 over a year if invested with a rate of return of 10 percent.

Future Value = (Present Value) x (1 + Rate of Return)

Future Value = (150,000) x (1 + 10%)

Future Value = (150,000) x (1.1)

Future Value = $165,000

Understanding the time value of money is essential to achieving financial success, as this concept allows you to evaluate the potential value of money today in comparison to the future. When you talk about mortgages, loans, car notes and retirement funds, the practical knowledge of time value of money can help you accomplish the wealth you have longed for.

Maria Fee is a mortgage professional, real estate investor, teacher, and master marketer with more than 20 years of business experience. Maria is the President of REMI KNOX, LLC, a group of investors who purchase real estate notes nationwide. Quoted by the media as an expert, she is continuously recognized for her extraordinary knowledge and real estate investing experience.

You too can discover hidden secrets to success with real estate notes. To take control of your financial future with proven strategies visit Maria's website at www.REMIKNOX.com. Happy investing!

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันเสาร์ที่ 29 พฤศจิกายน พ.ศ. 2551

West Austin Apartments

West Austin is a charming neighborhood in Austin, an economically developed business center in central Texas. Set in the backdrop of rivers and hills, it is the perfect place for customary and urban living.

West Austin offers the finest options for residence with a good choice of apartments suitable for all budgets. West Austin apartments are available both for rent and for sale, on a weekly, monthly, or yearly basis. A wide range of apartments including furnished, unfurnished, condos, town homes, and duplexes are available. Apartments with single and double rooms are suitable for students and small families. Larger units with three to four bedrooms are also available. There are contemporary and modern apartments designed to meet varied lifestyles. Corporate, senior, and student housing are also available.

All West Austin apartments have a fully equipped kitchen and a spacious living room. Luxury apartments come with fireplaces, built-in computer desks, and hardwood floors. Amenities include abundant closet space, Berber carpets/cut-pile Berber, built-in wine racks, detached garages, digital cable, state-of-the-art phone systems providing high-speed Internet access, linen and pantry storage, gourmet kitchens with designer custom cabinets, luxurious baths with oval garden tubs, private alarm systems, washer/dryer connections, study niches with phone, cable and electric outlets, and private fenced backyards.

Community amenities feature twenty-four-hour emergency maintenance, clubhouses, bar and entertainment centers, coffee, juice, and bagel bar, controlled access gates, drive-up mail kiosks, resort style pools with Jacuzzis, misters and cabanas, on-site lifestyle coordinators, business centers with free Internet access, copiers, faxes and color printers, large parking areas, fitness centers, and clubs. Many West Austin apartments also boast a picturesque view of lush woods and hilltops. West Austin also provides services in healthcare and education.

Numerous real estate agents and organizations specialize in the sale and rent of apartments in West Austin. Online agents also help you find an apartment in this locality. Some of them offer a service promise, relocation options, and a rent with equity program.

Austin Apartments provides detailed information on Austin Apartment Associations, Austin Apartment Guides, Austin Apartment Locators, Austin Apartment Stores and more. Austin Apartments is affiliated with North Dallas Apartments.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

Marketing to Realtors: Create a Power Position in Your Marketing Efforts

Every day a real estate agent receives several marketing attempts from loan officers. In fact, this information comes in a steady, unrelenting stream. It is no wonder agents have become adept at tuning out the static of these marketing attempts.

Your challenge is to find a way to differentiate yourself from all the buzz of other loan officers. You do so by establishing your marketing position.

Your marketing position is what defines your business. Take a moment to browse your competition websites. Does their marketing position look identical to yours? If it were not for their logo on the top of the page, could it basically be your website?

If the answer is yes, your marketing position is too close to that of your competition. You are competing with them for a place in your prospects mind, and chances are you are not winning the battle for first place.

Take a look at your business and what can you offer that nobody else is doing? If you feel stymied by how you could possible differentiate yourself from your competition, think about a couple of examples of businesses that have done a remarkable job of creating a marketing position.

Federal Express is a great example. They started a business with a position no other shipper occupied. They advertised was when it absolutely, positively has to be there overnight, they were there to do it.

Dominoes Pizza started their business by emphasizing that they would delivery a pizza within 30 minutes of the order, or the pizza was free.

Southwest Airlines have marketed themselves as the low-fare airline.

What special skill or niche could you develop and use in your marketing materials and what can you use to set yourself apart from your competition? When your services are similar to another loan officer, real estate agents will look for ways to differentiate.

The more your services are scrutinized for differences, the more important it is to give details about how you are different. You need to accentuate those details.

Prices and rates are not necessarily the kind of difference that gets you noticed. In fact, most often it merely gets you into a bidding war. You should instead find an unexplored niche and specialize your services around it.

You can develop a unique niche within a product line like HUD, ARMs or Jumbo Loan expert.

You can develop a niche around details of the process for example, loan approvals within an hour (or less), loans that close 5 days ahead of COE, daily email updates to agents.

You can position yourself around gender, ethnicity, geography or another demographic, specializing in exclusively serving the Hispanic community, single professionals, Town & Country Ranch, etc.

Spend some time thinking about what makes you and your business unique and then market to that position.

Jeff Nelson helps loan officers increase loan originations by attracting quality relationships with real estate agents from the development of customized relationship-building strategies.

Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet.

Visit us at http://www.loan-officer-marketing.com

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันศุกร์ที่ 28 พฤศจิกายน พ.ศ. 2551

Equity Advantage Program Introduces QuarterPercent Loan at LEI

An innovative new mortgage program has hit the market touting phenomenally low interest rates and even lower monthly payments. The ?Equity Advantage Program? contains a quarter-percent loan that promises to rid borrowers of high interest rates and gigantic payments.

This loan gives the borrower a specified fixed interest rate and a payment option of .25% for the first five years. The borrower can pay the interest only for their monthly minimum payment for these first 60 months. This ground-breaking loan helps borrowers decrease their monthly payment by hundreds of thousands of dollars.

If a person buys a $500,000 home and finances in the Equity Advantage Program, they could expect their monthly payments to be around $104.17 for the first five years. This astonishingly low payment for such a high-valued property can free up an unprecedented amount of cash for the borrower.

It is a hybrid adjustable-rate mortgage, or ARM, designed for people who want to use the equity in their home to increase their cash flow. The minimum payment of the loan will be the fixed-interest only amount for the first five years of the loan, and then the borrower will pay the interest only payment based on the interest rate of the outstanding balance. This interest only period will last for the first 10 years of the loan. The equity advantage program gives the borrower access to cash that they would not have in an ordinary loan. This is basically an interest only 5/1 ARM with the option of paying a minimum of .25% interest only. The difference between the two will cause deferred interest.

?This is essentially unheard of in the mortgage world. During a time when the Federal Reserve raised interest rates 17 times in a row, consumers are finding it harder than ever to deal with the rate hikes. The quarter-percent loan gives consumers their buying power back once again,? said Ward Shandoff, LEI banking analyst.

Traditional loans such as the option-ARM or the negative amortization loan do not give the borrower the cash flow of the quarter-percent loan. Borrowers who use this program effectively will have access to the equity in their home that would not be available to them in other mortgage products.

This system allows homeowners to take a lot more cash out, and use more of their money for something other than paying towards the principal. Credit card debt or any other large balances can be tackled and paid-off with this loan. You can actually use the money you have freed up to compound itself and generate more wealth.

This all goes back to the essential concepts taught by LEI Financial's ?Velocity of Money Program,? which uses investment strategies to generate more wealth in a client?s financial portfolio. Your home should be used as a tool to generate wealth, and this is made easier than ever with the quarter-percent loan.

Using this loan, you can take the money you are saving with each monthly payment and put it into an investment that will generate a return. Investment properties and cash-value life insurance policies are great ways to keep your money working for you.

The quarter-percent loan is a great option for those who will use their monthly savings to invest the money or pay off debt. This loan is not a viable option for people who can make the monthly payment only because that is all they can afford in a given month. A person who elects to make a minimum payment must be aware of the fact that there will be deferred interest as a result.

The Equity Advantage Program gives you the right rates and payment options that allow you to free up cash to be used for investment and wealth building opportunities. If a customer cannot qualify for The Equity Advantage Program we promote our Equity Management Program.

For more info visit: www.leiholdings.com or 877-801-5389

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพฤหัสบดีที่ 27 พฤศจิกายน พ.ศ. 2551

July Foreclosure Activity Increases

There was an 18% year-on-year increase in July foreclosure filings, according to RealtyTrac. The month saw 92,845 filings.

That is one new foreclosure filing for every 1,245 households.

While foreclosure activity continues to remain slightly below historical averages, there looks to be a significant amount of upward pressure on foreclosure rates in the next few months, siad James J. Saccacio, chief executive officer of RealtyTrac.

First, the billions of dollars in ARMs projected to reset in the third and fourth quarters could increase monthly mortgage payments for many homeowners, Saccacio explained. And the cooling real estate market exacerbates the problem for these homeowners by making it tougher for them to sell at a high enough price to pay off their loan balance.

Colorado had the highest rate of foreclosures in the country, with a new foreclosure filing for every 480 households. The state has had the highest foreclosure rate for five straight months.

Colorado saw an increase of 3% in foreclosure filings for the month, and a 55% increase for the year. The state reported 3,810 households entering some form of foreclosure.

Nevada had the second highest foreclosure rate for the second month in a row. There was one new foreclosure filed for every 533 households. There was a 31% increase in foreclosures for the month with 1,626 households entering some stage of foreclosure.

Texas led the country in the most foreclosures with 12,103 filings. The state has remained in this position for eight consecutive months. There was a 15% increase in foreclosures when compared to June.

Six states, including Texas, Florida, California, Michigan, Ohio and Illinois, represented 54% of the nation's foreclosure activity in the past month.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพุธที่ 26 พฤศจิกายน พ.ศ. 2551

Where To Find Great Commercial Real Estate Deals

Commercial real estate is a hot commodity right now. Many investors are seeing the massive potential for income associated with this type of property. It is not always clear, however, what type of commercial real estate to invest in or what part of the country to choose. With a little research, you can find the perfect location to purchase.

Columbus, Ohio is a great location for commercial real estate. Columbus is the capital city of Ohio and also one of the fastest growing. All over Columbus, new businesses are popping up and with them the need for commercial spaces. There are several notable commercial real estate companies working in the Columbus area to help people find the perfect space for them.

Another great area is Greensboro, NC. It is a growing community with great historical roots. It was once known as the Frontier Town for those looking to go west. With it's temperate climate and friendly southern atmosphere, Greensboro is a town that attracts people from all walks of life. There are also many great commercial real estate companies, such as Kotis Properties, to help clients find their dream location. And with the attractive cost of living compared to many other parts of the country, this area will continue to flourish.

Austin, Texas also is a good investment for those interested in commercial real estate. Austin is a hot spot for families and singles. There is a growing economy and a great location. This makes Austin a good investment commercially. There are many good real estate companies in Austin. The Austin based COMMREX is one of the top commercial real estate firms. There are also some major national companies headquartered in and around Austin.

Los Angeles is one of the greatest markets for commercial real estate investors. Although it is one of the most expensive, the property values are ever increasing. Owning property in LA is like having money in the bank. There are significant advantages to owning in LA. One of the great tax benefits is that if you sell your home, you can take a profit exemption as long as you live in your commercial property for at least two of the five years following the sale of your property. This, along with the potential for income, is a great drawing card for LA commercial real estate.

Commercial real estate is a great investment. It appreciates significantly year over year, so the resale is excellent. If you decide not to sell or use it yourself, you can lease it and gather continuous income. Whether you use a firm in person or over the internet, be sure to do some research about the area first. When purchasing property, look for location. This is truly the key to finding the perfect commercial real estate investment.

Jon is a computer engineer who maintains many websites to pass along his knowledge and findings. You can read more about commercial real estate deals and areas at his web site at http://www.commercial-real-estate-tips.com/

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอังคารที่ 25 พฤศจิกายน พ.ศ. 2551

Texas Real Estate Commissions

TREC or Texas Real Estate Commission is a government body that was created in 1949 to administer four specific laws such as real estate license act, real estate inspector act, residential service company act and Texas timeshare act.

TREC regulates activities of real estate brokers, salespeople, inspectors, residential service companies, timeshare developers and education providers for real estate and inspection courses. Main purpose of TREC is to protect legal rights of citizens of Texas and provide them with honest, trustworthy and competent real estate service. The commission reviews programs dealing with education providers for real estate and inspection courses. It tries to identify and regulate errors and drawbacks present in it.

TREC has made it mandatory for real estate brokers and salespersons to maintain specified levels of education in order to hold a valid license to work as a real estate agent. Provisions of real estate license act and rules of Texas real estate commission are binding on all real estate agents and professionals in order to provide customers with a competent and honest service. TREC also gives licenses to real estate inspectors, agents, residential service companies and real estate schools. This commission also does registration of timeshare properties.

Texas Real Estate Commission has statutory relations with three state entities namely, real estate center at Texas A&M University, Texas department of savings and mortgage lending and Texas appraiser licensing and certification board. The commission has partnership with Texas A&M University's real estate center for conducting research along with some education projects. It also appoints two members to mortgage broker advisory committee of Department of savings and mortgage lending. Issues relating to real estate licensees and mortgage brokers are resolved by cooperating with this agency. Commission also has signed a memorandum of understanding with Texas appraiser licensing and certification board under which it provides administrative support to them, which is approved by their governing bodies.

Texas Real Estate provides detailed information on Texas Real Estate, Texas Real Estate Commissions, Austin, Texas Real Estate, Houston, Texas Real Estate and more. Texas Real Estate is affiliated with Houston Real Estate Schools.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันจันทร์ที่ 24 พฤศจิกายน พ.ศ. 2551

Real Estate Investment Financing

Real estate investment financing is a better option than the traditional residential real estate mortgages. The financing in this sector is done mainly by borrowing money as it is more lucrative than investing one?s own money in a single real estate. Real estate investment is a great possibility for many people to gain equity and to generate cash flow and due to this, demand for commercial real estate investment financing is increasing day by day. The real estate investments include homebuilder stocks, real estate mutual funds and real estate investment trusts (REITs).

A real estate investor can get around 98 percent financing for his investments. Even, cent percent financing is available. Zero down real estate investment financing is a fully documented loan which is provided to a single family, townhouse, or condominium. The only requirement for this program is excellent credit. It is now available at reasonable rates. For investment properties, limited and no documentation loans are also available.

Many companies are providing financing for the real estate investments. Most of the business concerns are allowing a maximum of 5 to 6 new rental property mortgages yearly. These companies provide low interest rates and quick close available (48 hours) options to the investors. For a reliable and stable financing, short term and interim financing loans are available. It is hard for a person to get real estate investment financing for more than six properties in a single year. In this situation, sellers financing is the best alternative for achieving the maximum leverage of the investment.

There are various real estate investor financing books available in the market from where one gets rich information about the financing methods. Other means through which one gets ample information about the real estate investor financing are courses, books, tapes, software and services. Before trying a real estate investment financing, make sure that the banks are regulated by the federal government and are capable enough to underwrite conforming loans.

Real Estate Investments provides detailed information on Real Estate Investments, Real Estate Investment Trusts, Real Estate Investment Loans, Real Estate Investment Financing and more. Real Estate Investments is affiliated with Buying Investment Properties.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอาทิตย์ที่ 23 พฤศจิกายน พ.ศ. 2551

Home Sales Continue to Drop In Southern California

Home sales are dropping in Southern California. For the fourth month in a row, home sales have continued to drop, according to data for March. At the same time, the median price for a home in Southern California, has climbed above the $500,000 mark. This is a divergence of trends. In the last several years home sales were robust and increasing and so were home prices. Now home sales have slowed but prices are still inching upward in many areas.

Home values in Los Angeles, Orange, Riverside, San Diego and Ventura counties, increased 14% over one year ago. Homeowners should not expect that rate of appreciation for the current year. In March the number of home sales fell almost 10%. Sales activity is related to price activity. The fact that we are seeing a continuing series of months with declining sales activity is an indicator that price activity is soon to follow. The current rate of home value appreciation cannot be sustained in a climate of falling home sales. In Southern California the sales activity and the rate of price increases reached a peak two years ago. In the current environment we are likely to see home values rising at a much slower pace or even approaching 0.

There are no indications that this is a real estate bubble at this point, this is just a return to more normal market conditions. What we have seen in the past several years is abnormal market conditions. The rapid growth in the real estate market must eventually return to a more normal pace. When we see the number of home sales slow, especially for a multi month period, we can expect prices to lag the slowdown in sales by around three months. We should see home appreciation start to really slow down soon in southern California.

Inventory is another factor of price. In this region inventory is increasing, but not at extraordinary levels. The time to sell a home is increasing. Last spring it was 27 days, now it is 48.

The county to watch is San Diego. It was the first county to accelerate in home value appreciation and the first to slow. It is seen as a barometer for southern California. In the last six months median prices of homes in San Diego county have decreased 2%. This is not indicative of a bursting bubble, but an overheated market that is returning to normal.

Andrew Goldman is president of Metal Rabbit media services, the operator of http://www.Exchangetradedfundinvesting.com He has written a number of articles on finance and investment over the last ten years.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันเสาร์ที่ 22 พฤศจิกายน พ.ศ. 2551

West Virginia Home Buying

Maybe you?re buying your first home in West Virginia, or perhaps you?re relocating to West Virginia from another state. Either way, it?s important that you educate yourself on West Virginia home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in West Virginia:

The median price of a home in West Virginia is $72,800. Homes in West Virginia appreciate at a lower rate than that of average national home appreciation; however, they do appreciate at a modest rate. The rate of job growth in West Virginia is below the national average, and income levels in many parts of West Virginia are too low to purchase a median-priced home with a conventional loan.

Average mortgage interest rates in West Virginia are just slightly above the national average interest rate. Income levels in West Virginia are amongst the lowest in all 50 states; however, home prices are also amongst the lowest in all 50 states. Nationally, West Virginia has the lowest number of individuals over the age of 25 whom have Bachelors degrees.

The state of West Virginia has certain laws pertaining to home equity lines of credit (HELOCs) and second mortgages. For example, in West Virginia, the draw period on a HELOC is five years, and, after that period of time, the borrower then has fifteen years to repay the balance of the loan. The minimum credit line on a HELOC in West Virginia is $15,000.

Borrowers have three days after signing a HELOC contract and paying their fees to change their mind and cancel the loan. Borrowers who decide not to take the line of credit within three days will be refunded all fees paid. Additionally, West Virginia law does not allow interest rates on subordinate mortgage loans to exceed 18% per year.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about West Virginia Mortgage Rates and Loans.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

Miami Waterfront Real Estate

Being surrounded by the Miami River, Biscayne Bay, the Everglades, and the Atlantic Ocean, Miami has a rich supply of waterfront real estates. Although there are some properties that are well priced for single family houses, most of the properties in the waterfront area cater to high-demand buyers with intentions of purchasing luxury homes.

In fact many of these waterfront real estate properties are homes to the likes of Julio Iglesias; Don Shula, former coach of the Miami Dolphins; Norman Braman, owner of the Philadelphia Eagles; Ricky Martin, and Robert Wood Johnson of Johnson and Johnson. Many of the small historic houses are slowly disappearing to give way to the new mansions for these elites, but the waterfront homes of Miami are becoming a sight to behold.

The waterfront used to be standing over swamp mangroves that were developed back in the 1920s and 1930s to be a paradise of the wealthiest and most famous people that this world has ever known. The landscaping are always maintained with well-groomed lawns that are simply marvelous to behold. The properties are situated with wide open bay views, perfect for breathing in the airy ocean breeze. The houses are architectural wonders using Mediterranean, modern Caribbean, and European styles to design the structures. This area of Miami is home to the most beautiful private golf in the city. The waterfront community is treated as an independent city heavily guarded by its private police force patrolling the streets and the waters.

The area is so exclusive that it only houses a total of 33 residents over 300 acres of which 80 percent is devoted to a golf course. The cheapest home found in this area is estimated to be worth at least $1.4 million. The prices of other estates go us high as tens of millions of dollars.

Miami Real Estate provides detailed information on Miami Real Estate, Miami Waterfront Real Estate, Miami Beach Real Estate, Miami Luxury Real Estate and more. Miami Real Estate is affiliated with Downtown San Diego Real Estate.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันศุกร์ที่ 21 พฤศจิกายน พ.ศ. 2551

New Jersey Mortgage What to Expect When Buying a Home in New Jersey

Maybe you?re buying your first home in New Jersey, or perhaps you?re relocating to New Jersey from another state. Either way, it?s important that you educate yourself on New Jersey home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in New Jersey:

The median price of a home in New Jersey is $170,800. Homes in New Jersey appreciate at rates above the national average. In fact, New Jersey home appreciation rates place them 9th ranked in the nation. Additionally, average interest rates in New Jersey are below the national average. However, the rate of job growth is below the national average.

The price of homes in New Jersey varies widely between zip codes. For example, in Long Beach Island, New Jersey, the median price of a home in the summer of 2005 was $850,000; however, in Wyckoff, New Jersey, the median price of a home was $550,000, and in Parsippany, New Jersey, it was $350,000.

New Jersey state law prohibits home equity lines of credit on primary residences. However, they are allowed on second homes. Additionally, New Jersey law restricts the amount of fees on second mortgages.

Currently, New Jersey is in the process of enacting a new home ?lemon law.? Lawmakers saw this law as necessary after the State Commission of Investigations found that there was significant corruption, ?waste, fraud, and abuse? prevalent in new home construction.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about New Jersey Mortgage Rates and Loans.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพฤหัสบดีที่ 20 พฤศจิกายน พ.ศ. 2551

The Local Community

Whether you?re buying a residential house for investment purposes or as your home, the local neighborhood and community where it is located will make a big difference in your enjoyment of that property and in your prospects for the future. Here are some of the basic things to look for:

1. Essential Shops and Services

Are all the essential shops and services in the area and are they you?re your house? Drive around and look for the local grocery, convenience stores, church, gas stations, dry cleaners and the like. While you?re at it, take a good look at the community?s leading shopping center. Oftentimes, if the local shopping center is in decline, chances are that the neighborhood is in decline as well. In addition, if there are a lot of vacant storefronts along that neighborhood, it might be a good idea to explore other options, perhaps go down a street or two for your house hunting.

2. Proximity to neighborhood center You want your home to be neatly tucked away at the center of the residential neighborhood or as close to it as possible. You do not want to purchase a house on the edge of town or close to its outskirts. And neither do you want a house that is at the back or side of a busy thoroughfare either. If it?s a single family residence you are eyeing, try to avoid purchasing property that borders a bustling business enterprise, condominium, apartment complex or school because these places are naturally bustling with activity which can be a distraction.

3. Access to major thoroughfares The ideal property provides easy access to local highways, major traffic routes and major thoroughfares as well as to mass transit. Try to avoid purchasing a house located on a street that is a favorite shortcut of motorists between two busier streets. If it?s a residential home you?re thinking of buying, also avoid a house located at a corner lot since these tend to attract more street traffic and may not be that safe for children. Instead, try to find a house that is in the middle of the block or on a cul de sac. Now if it?s a business or commercial property you are eyeing, a corner lot would be more desirable.

Jonathon Hardcastle writes articles on many topics including Real Estate, Investing, and Finance

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพุธที่ 19 พฤศจิกายน พ.ศ. 2551

Property Foreclosure

When a person buys a home, he has to take a loan regularly. The lenders, generally banks, keep the title to home collateral in this case. When the person is unable to pay the dues and payments in time, the ownership of the home is moved to the lender. Transferring of ownership to lender is called Foreclosure. Buying foreclosure has been compared to playing poker. Considering as an investment, it has its own risks. First the lenders will check out if there are any junior liens. When they find any pending loans, they pay off everything so that they themselves have clear title to the property. Once this is done, the lender adds up all costs to the loan amount to be recovered, and again resells the property so that they can convalesce the expenses together with the loan amount. This is an ideal time for investors to buy such property. Buying a property that has been foreclosed already has many gains.

The foremost and well-known benefit is the fact that all properties bought from lenders will have clear titles and ownership rights, thereby saving you the difficulty of doing any research. Next fact is that the foreclosure is not for profit booking. When the lenders sell foreclosed property they need their money back, so they are ready to sell the property cheaper than what it could have obtained in open market under normal conditions. The first step of buying foreclosure is to gather information. The best idea is to make a database in a specific manner so that you will have separate data on all the properties and markets in clear sets. The next step is to directly get in touch with the foreclosure owners and start negotiating with them. If you have the address of property but not the name, online directories may help you to find the pertinent names. Buying foreclosure property as a beginner on your own can be risky and if you are trying to buy such properties get help from agents.

One of the risks occurring is that when buying foreclosed property at auction, give just a week to deposit all the cash, and if you fail to do so, you may lose all your deposit at certain times. But as you keep on investing and making money, you can gain experience about bad construction, poor soils, problems with septic systems etc. Background reading and relevant information is extremely important before you get into foreclosure investing. Foreclosure laws in your state, priority of liens, bidding at auctions, title insurance, and bankruptcy are some key areas where you should obtain complete knowledge. You will be able to make better and safer investments in this way particularly. Property investment is not an easy game, and must be played only with caution and care. Little concerns for the person whose property is up for foreclosure are necessary for this process. But you can easily cut down the process of foreclosures into three primary stages. The first stage is pre-foreclosure, second stage is foreclosure auction and the third and final stage is bank owned foreclosures.

In general as you move along the timeline of the foreclosure process your potential for profit will diminish the latter you get to the foreclosure a property. If you're planning on making a full-time living eventually from real estate investment then you'll want to learn in baby steps how to get the most out of your time and efforts without any doubt. With that saying for those who are ambitious enough to do this full time work you have to learn how to find pre-foreclosures because they normally offer you the utmost leverage and profitability relevant to the most deep discounted properties available via bank owned properties.

Ron Victor is a SEO copywriter for http://www.propertyauctionzone.com
He written many articles in various topics. For more information visit http://www.propertyauctionzone.com
Contact him at ron.seocopywriter@gmail.com

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอังคารที่ 18 พฤศจิกายน พ.ศ. 2551

How to Screen Tenants

There is nothing more frustrating than having to evict a tenant, whatever the reason, and the reasons can be innumerable - failure to pay rent on time, abuse of the property, drug use, keeping bad company, etc. Yet this is not the most difficult aspect of property ownership. The most difficult aspect of property ownership, by far, is remodeling and the management of contractors. More on this later. When it comes to managing tenants, however, the biggest advantage that you have is the property that you bought. If it's a great property, your units will attract great tenants and they will always be full. If it's not a great property, then life gets more complicated. It's better to have your units empty than it is to rent to a bad tenant. We know the preceding sentence may be a little hard to digest for the first-time property owners, but it's absolutely the case that bad tenants will cause you more problems down the road than any rent is worth.

Here are some time-proven and foolproof ways to screen tenants:

Be observant! And observation starts from the moment that the prospective tenants walks up to the unit! Observe the vehicle that they drive, the clothes that they wear, whether they make eye contact, what type of questions do they ask, how observant are they, etc.?

Questions. People who intend to be great tenants will tend to ask very different questions from people who don't. The great tenants ask questions like the following:

What are the other tenants in the building like? Do they stay up late, do they smoke, are they loud?
What do the other tenants do for a living?
Where is the nearest park and coffee shop?
If I play my cello at night (which is what I do to relax), do you think I will disturb the other tenants?
Have there been any incidents of crime in this area?

Potentially bad tenants will ask questions like the following:

It's okay if my rent is occasionally late, right? (This will always be followed by some reason like they work in a job that is seasonal so their salaries are unpredictable)
You don't really need three personal references, do you?
You aren't serious about talking to my previous landlord, are you? I can tell you that I'm moving because that guy was a jerk.
When I leave, I'm getting all of my security deposit back, right?

Check all References. Great tenants will have great references and the great references will use descriptive terms, such as, Oh, I've known Frank for 20 years and he's an incredible person! He was the best man at my wedding, and he will be an ideal tenant! Listen carefully to the tone of their voice. If you hear descriptive phrases that are lukewarm or tepid, then you are probably dealing with a person who is a bad tenant. Avoid them. Avoid them. Avoid them. There are many resources for doing a credit reference check and a criminal check if you know where the tenant previously lived. One company that the author has used successfully is Rental Research, Inc. Oftentimes, the report is available on the exact same day. You need to remember that you are not allowed to share the tenant's credit report or credit score with them, although you are allowed to ask them about any discrepancies about which you have a concern (continued late payments, excessive debt, etc.).

Trust Your Instincts! This is, by far, the best advice that I've ever given or received. If, after you've done all of the above, there is something about the prospective tenant that doesn't feel right for whatever reason, don't rent to them. Your instincts are telling you something subconsciously that you need to respect.

What About Pets? Some property owners allow only small pets in their buildings, and we can completely understand why. Large pets wear considerably more on the investment property than small pets, not to mention that poorly behaved large pets cause more damage, not to mention that the pet can annoy other tenants. Our collective experience with pets is that the behavior of the pet tracks closely to the behavior of the tenant. Just like you check references for the tenant, you should check references for the pet. Some time-proven tips:

Call people who know the pet and who have watched the pet in the past, and ask them the same questions you would ask about the tenant.

Meet the pet in person (so to speak). Spend some meaningful time with pet and see if the pet behaves inappropriately while you are interacting with the pet. If the pet jumps up and knocks you to the ground, that is a bad sign. I know an emu named Bob who likes to lick my ear, but that's a socialization behavior of emus, and I don't encourage renting to anyone who has an emu. Speak to the pet and see if the pet responds to your voice.

Observe how the pet interacts with the owner and vice versa. Owners who treat their pets like children will have a higher probability of having well-behaved pets. There are always exceptions, but the odds are in your favor if the pet is treated like a child, but not a spoiled child.

Observe the living conditions of the pet. Personally, I worry about pets who spend most of their time alone or who live outside in the backyard by themselves, particularly if the pet is a dog. Dogs are social creatures -- they are pack animals by nature and they need companionship.

Observe the grooming of the pet. Well behaved pets are typically well-groomed, with clipped nails, brushed hair and no fleas or ticks.

Pay attention to the name of the pet. I know this one is silly, but it makes a difference. I would worry about a dog named Killer, Brutus or Caligula. On the other hand, I like any pet named Muffy or Munchkin.

Peter is an active real estate investor in the Puget Sound Area, specializing in the acquisition and finance of small multi-family properties between 2 - 30 units. Peter has been married to his lovely wife, Grace, for 12 years and they have two young girls, Sydney (age 7) and Ashley (age 2). Peter lives in Redmond, Washington. Find out more information Peter at http://www.peterku.com.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันจันทร์ที่ 17 พฤศจิกายน พ.ศ. 2551

1031 CoOwnership with California Examples

Co-Ownership of Real Estate (CORE) is a new spin on the popular Tenancy-in-Common concept that many investors are using as a 1031 replacement property alternative. This article focuses on the 1031 co-ownership concept by illustrating it with California examples.

Many investors are finding that markets, like California, are becoming over valued. While they love the 1031 concept which offers them a chance to defer the gain and avoid taxes on their appreciated relinquished property; the challenge has been to find a suitable replacement property.

One strategy has been to shift to different asset classes within the same local market. Along these lines, rental property investors are looking to commercial properties instead of single family homes, or condos, or duplexes for more suitable investments. They have been especially attracted to the concept of “NNN” commercial properties which alleviate many of the property management issues. However, NNN commercial properties are normally associated with a large price tag. This price jump traditionally puts these properties beyond the reach of many individual investors. In response, the marketplace began to develop ways for individual investors to join together to transition into these more expensive property types.

Indeed, since the mid-1990s, many investors have experienced the benefit of reinvesting their equity into co-owned investment properties structured as Tenancy-in-Common (TIC). For TIC owners, this works because they now hold an undivided fractional ownership of the investment property evidenced by a deed of trust that satisfies 1031 like-kind exchange provisions.

The notion of “Co-ownership of Real Estate (CORE), is simply another term for this same concept. Indeed, the CORE concept is similar to a TIC in that it enables an investor to participate in the ownership of institutional-grade, professionally managed properties. The investor’s equity can be diversified among several different properties, geographic markets and real estate companies, potentially increasing both the value and safety of the real estate investment. Finally, like TIC-investments, CORE investments are designed to offer preservation of capital, predictable cash flow and long-term appreciation in institutional-quality real estate assets that benefit from greater economies of scale.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอาทิตย์ที่ 16 พฤศจิกายน พ.ศ. 2551

Real Estate Economics at a Glance

Real estate business is like a whole different world in itself where different forces collect and affect one another and thus functions that world. Acknowledging the real estate market laws is rather essential because it is a proper, separate subject that needs to be given its due importance. It needs to be studied like any other subject that is studied in economics. Real estate economics should be studied because it provides information about how the economic laws, rules and techniques are used in connection with the real estate market. The aim of these markets is exactly the same as those of the other markets. To earn maximum profit at minimized cost. Exactly the way other forces of demand and supply are determinants of commodity market pricing and equilibrium, real estate market studies too hold equal importance.

Real estate has become the vital part of the economics. It holds within itself a revenue source for the governments. There are employment opportunities that are filled because of it. The circular flow of national income of a state gets a very big contribution from the real estate market and keeps it flowing steadily. When so much is depended upon it then it should definitely get a place amongst the much pondered upon issues.

Any market; whether it is a commodity market or some other markets there will always be certain forces working together to make it run. A brief overview of the running forces of this market can facilitate even an ordinary man in dealing with real estate matters. The real estate market is huge with two basic forces running it that is demand and supply of real estate. There are owners and tenants and their money capital that they are willing to invest in the properties. These are the two very main characters that play the entire role. Because they are the ones who have money they can invest. The others come second on this list. There are others who rent or lease out their property instead of consuming it themselves. The demand side depends on the population requirement while the supply side depends on all those inputs that help in building the stock of real estate.

The equilibrium formed thus by the forces of demand and supply depicts the mechanism of this market. The study of real estate thus provides tips for a better economic and social development of the societies of the World.

Jonathon Hardcastle writes articles on many topics including Real Estate, Business, and Finance

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันเสาร์ที่ 15 พฤศจิกายน พ.ศ. 2551

Costa Rica Watch Out for the Real Estate Sharks

Thinking about buying real estate in Costa Rica? It could be a great investment or your biggest headache. Read on to learn how to stack the odds in your favor.

Costa Rica does not regulate the real estate business and this leaves you, the buyer, at a huge disadvantage. All real estate agents in Costa Rica are in business for only one reason - to make money. They only make money when they sell a property. All the agent wants is your money. The expression ?shark? is a very fitting synonymous for ?real estate agent.? However, in my opinion, it is it is a derogatory comment about sharks.

Agents can be great people, best friends and can even be from your home country but do not trust them as the final authority with your investment money. They do not have your best interest at heart.

Here is my personal list of real estate stories (lies?) that I have heard from several agents in Costa Rica.

1. All Ticos (Costa Rican's) are out to screw you! I have found that some are and others are not out to take advantage of you financially. After living here for a year, personally I am more leery of Gringos trying to sell me something than the Ticos. This is because I know what the Tico wants but do not know the Gringo?s true agenda. Anyone who uses such generalizations should be included in the group that they are criticizing.

2. ?We don?t mark up property like other agencies...? They may not use the same % of markup (called ?Net Listings? which are illegal in the US) but don?t believe them unless they will let you or your attorney talk directly to the seller to verify the asking price. There is one very well known agent in the northern central valley that has previously openly advertised that he doesn?t mark up properties when in reality he does mark up property whenever he thinks he can do so. I forgot the exact words he used but the gist was: Real estate in Costa Rica is unregulated so we can do anything we want.

3. We charge a commission to the buyer because Costa Rican?s don?t pay commission. What a line if I ever heard one! Costa Ricans are not dumb and they know that to sell the property, they probably have to pay someone to find a buyer. Is the agent double dipping? I don?t know but I am willing to bet that nine times out of ten the seller is paying someone to get the property sold and the agent is making money on both sides of the transaction.

4. You or your attorney cannot talk directly to the seller. The excuse often given is that they are afraid your attorney is unscrupulous and may steal the property or something like that. My supposition is that the agent is either marking the property up and/or charging the buyers a commission while the seller is also paying a commission.

5. ?We have already done all of the due diligence for you.? When problem arises the water or electricity or the neighbors, your agent is not going to pay to fix it, rather he will say something like ?Gee I?m awfully sorry, I didn?t know about that.? One agent is advertising that they have done ALL of the due diligence on their properties before they list them. If that is the case, I wonder why the property I purchased from that agent doesn?t have any water available when he stated to me that it had water on the property.

6. Your agent states that he is making a full and truthful disclosure to you. California has one of the toughest disclosure laws in the real estate industry while Costa Rica has none. One agency in the northern central valley is currently promoting a house they are building on speculation by saying Vulcan Poas is not dangerous. In March, 2006, Vulcan Poas roared back to life (it is and has been one of the two most active volcanoes in Costa Rica) and scientists are now concerned because the water temperature of the lake is some 30 degrees hotter than normal. Is this a full and accurate disclosure? Not in my opinion.

7. Your earnest money deposit is not refundable. Some agents use contracts or ?letters of intent? that state that deposits are nonrefundable and that the seller receives the deposit immediately! You can and should write a purchase contract where your deposit is held in escrow and is refundable if certain conditions are not met. I strongly advise that you think long and hard about a deal if the agent says you have to make a nonrefundable deposit.

8. The seller can change his mind any time he wants and refuse to sell. Again, some agents do not know how to or do not want to write a correct contract. If you have a purchase option and have it recorded, it will be much more difficult for the seller to back out.

9. You don?t need to use your own attorney. Just read our personal experience with attorneys and you will see why it is imperative that your attorney represent you and only you.

10. You have to pay all of the closing costs. The custom in Costa Rica is to split the closing costs equally between the seller and the buyer. Of course you and the seller can agree on other terms but don?t start off by offering to pay for everything - that just makes the job easier for the agent.

11. You don?t need a new plano. Your plano is a legal survey of the property. Unless you get a new plano you will not know for certain that what you are looking at is really what you are buying. It is a fact that some fences are occasionally moved by the neighbors and a lot of older surveys are flawed.

12. Don?t worry about utilities... The previously mentioned agent and his associates use practically the same story for every lot they show to their clients - ?Electricity should cost about $3,000. The road should be about $2,500 and water is right over there.? Just make sure you verify everything with the proper authorities and get real estimates from the people that will be doing the work. Don?t be surprised if you find out that the real costs for installing utilities are up to 10 times as much as the agent stated.

13. The water is safe to drink. Over 90% of the surface water in Costa Rica is polluted with gray water runoff, industrial pollution, farm run-off and human waste. Even the large municipalidades have problems with human waste and gas getting into their wells. If you don?t know where the water is coming from get it tested.

14. Gringos are more honest than Ticos. This is a common misconception or misplaced belief on the buyer?s part that makes them feel more comfortable parting with their money. It is really easy to fall into this ?comfort trap? and believe that all Gringos are honest. The simple fact is that it is easier for a Gringo to sell property or an investment to another Gringo. Think about it - Why are all of the international time share resorts are staffed with Gringo sales people?

15. No, the lot isn?t too steep... If the property is steep you have two options: Build on piers which is more costly or: Cut out a building pad. Either way make sure you allow for adequate drainage. I have seen some lots carved out of a hillside where there is bare earth for forty to fifty feet almost straight up. Landslides are common in Costa Rica, even though it is practically all volcanic soil. Don?t think your lot is an exception unless you obtain an engineer?s opinion. My uneducated opinion is that a retaining wall just delays the inevitable. When in doubt ask an engineer, not your agent.

16. Ticos are not litigious like people from the US. This is an out right lie. There are so many suits pending in Costa Rica, some courts are backed up for up to 10 years.

17. ?I am an expert on Costa Rica real estate.? Ask them how long they have been in the country selling real estate. If they have not lived here full time for at least 10 years, then they, like me, are not experts.

How do you avoid these traps? Check out Living and Building in Costa Rica at http://www.die-trying.com/html/retruth.html.

All of these ?myths? are solely my opinions and are based on situations where I have personal knowledge of the facts.

Remember, nobody, including me, cares more about your future than you do. Verify, verify and re-verify before you invest.

David L. McDuffie is a US citizen that has adopted Costa Rica as his new home. Mr. McDuffie is a Custom Home Builder and Home Designer in Costa Rica at http://www.crbuilders.com You can learn about Discount Architectural Services at http://www.crplans.com

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

Alameda Mariner Square

Enjoy a romantic San Francisco Bay cruise, the lights of the city, and the chance to own a home in one of the most prestigious areas of Alameda. Located across the estuary from Jack London Square, the shopping, dining and nightlife are top quality. The atmosphere of safety and planning make some of the accommodations ideal for seniors, and there are planned communities in the area with more than 25 years of experience that provides a safe, beautiful and caring haven for retirees.

Whichever option you choose, either a community setting or an individual one, the homes and spaces here are amazing, with views of Oakland and the sea air making each day seem like one endless holiday. Many retirees have started successful and enjoyable small businesses here taking advantage of the wonderful economic atmosphere of Alameda. Coffee shops, crafts and small restaurants abound. Take advantage of the opportunity to stay busy as well, even after you have settled in.

You can find fully furnished homes that reflect your personality and lifestyle, or you can start from scratch and find one that you decorate yourself. The possibilities are endless, and homes start at around $250,000. There are many great deals to be found, including some homes right on the water. The assisted living options typically cost $29,000 a year and up plus, there is usually an entrance fee.

There are many great brokerage and financial services available in Alameda, so you do not have to travel very far to take care of your investment and retirement fund needs. Of course if you do have a business here, or plan to, they can be very helpful with that, also. Overall, there is probably no more beautiful, scenic and luxurious place to retire, take it easy, and enjoy life than right here at Alameda Mariner Square.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันศุกร์ที่ 14 พฤศจิกายน พ.ศ. 2551

Choosing the Right San Diego Realtor for YOU!

Whether buying or selling a home, it is one of the largest financial events that happens only a few times within your life. That makes choosing a realtor just as important and a crucial decision that can add to the stressful event or make it smoother and easier. So, choose your realtor as carefully as you would choose your doctor or attorney.

The first step in choosing the RIGHT realtor is to ask your friends, neighbors, acquaintances and business associates for recommendations. Ask them why they liked the realtor, what kind of service he/she provided, and would they use him/her again? Do not consider recommendations of their relatives ? it is doubtful that you are getting an accurate perspective on the realtor.

If you did not get several truly exemplary recommendations, then drive throughout your neighborhood and check the ?for sale? signs, especially those with ?Sold? stuck across them. Note the realtor names. Also, check out real estate, display and classified advertising in your newspaper and local neighborhood paper. Which realtors have the most listings? Which have the largest or most display ads with photos of the homes? Note the realtor names.

By now, you should have a good list of potential realtors. It is time to check them out. Attend at least one open house for each realtor you are considering. Observe them in action and judge their expertise. Are they professional ? or do they come across as a ?used car salesman?? How familiar is the realtor with the property he/she is selling? After you leave, make detailed notes of your observations and how you felt about the realtor.

If you only used the recommendations of others, now check the advertising in the newspaper and neighborhood media for the realtors in which you are interested. Do the drive through of your neighborhood to see how many sold signs these realtors have. Make notes of how visible these realtors are and their marketing efforts.

Next, choose your top three realtor selections. It is better if they are from different companies, ensuring they will work harder for your business. Call all three and set appointments. For sellers, make the appointment in your home and let them know you would like an estimate of your home?s market value. For buyers, let them know you would like them to determine how much you can afford to pay for a home. Be sure they know that you are meeting with two other realtors and will not make your decision until you have met with all three.

During each interview, take detailed notes on the realtors? presentations. Note any thoughts you have. Ask the following questions, along with any you may have:

?For sellers

oHow will they sell your home? What are their marketing plans? Are they customized to your listing?

oHow many years have they been a full-time realtor? In your area? You want someone with experience, who will be giving your listing his/her full attention.

oWhat is their sales record? This includes their production level, rating, closed rate, expired rate on listings, and average time listings have been on the market before selling within the last year.

oAre they single-proprietorship realtors, work as a team, or part of a company? What prominent company are they associated with, and what resources does the firm provide the realtor that helps him/her do a better job for you?

oWhat level of technology will they use to promote your listing ? web sites, virtual tours, online photo galleries, and so on?

oWhat services do they provide from the time of listing your home to the end of the closing?

oWhat are their communication procedures with you from listing through closing?

oDo they provide working relationships with local inspectors, appraisers, and real estate attorneys?

oWill they help you ?stage? you home for showing. This is a walk-through of the property, suggesting things that should be repaired, renovated or changed to improve your pricing for the home. It also includes things that would ?show? the home better. For example, too much furniture adds a clutter affect, making rooms look smaller. The realtor may suggest storing some of your furniture until after the sale.

oHow did they arrive at the results of their marketing analysis? Ask for the actual addresses of any homes they used for comparison.

?For buyers

oWhat services do they provide from the time you contract with them through the closing?

oHow many years have they been a full-time agent? In your area? You want someone with experience, who will give his/her full attention to finding you a home.

oAre they single-proprietorship realtors, work as a team, or part of a company? What prominent company are they associated with, and what resources does the firm provide the realtor that helps him/her do a better job for you?

oWhat are their communication procedures with you during your search for a home through closing?

oWhat level of technology and research methods will they use to locate potential homes for you to view?

oWhat is their production level and rating? How many satisfied buyers in the past 12 months?

oDo they provide working relationships with inspectors, appraisers, title search companies/attorneys, and real estate attorneys for contracting and the closing? Can they suggest mortgage lenders, if you need one?

oDo they network with other realtors in the area? Sometimes, such relationships may afford you a viewing before a property is ?officially? listed, giving your first view.

Tell the realtors that you will make a decision and contact them in the next day or two.

After all interviews are completed, note the following:

?Who gave you the most usable information?

?For sellers, the market value for your home should be in similar ranges for all three realtors Note if someone is unusually high. They may be only trying to get your listing with the idea of talking your price down later. Also, drive by the homes they used for market value comparison. Which realtors compared apples to apples, and which compared apples to oranges?

?For buyers, your buying potential (what you can afford to pay for a new home) should be in the same range for all three realtors. If a realtor is much higher or lower than the others, note this. You may even call him/her to inquire about the difference and how they arrived at the amount?

?Who answered your questions with genuine sincerity?

?Who genuinely appeared most excited about your home and its sale?

?Who truly listened, and who did not?

?Which realtor seemed to be the best fit for you?

Choosing a poor realtor can turn an already stressful event into a nightmare with ramifications that you must live with for years to come. Choosing the right realtor can make the experience a dream come true and a totally satisfying event. Selling or buying a home is stressful enough. Be sure you do not choose a realtor that is going to add to that stress.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพฤหัสบดีที่ 13 พฤศจิกายน พ.ศ. 2551

The Basics of Selling Your Home

Last week, I described the necessary steps that one should take when buying a home. Now, I will do the same for those who wish to sell their homes. First, you should make sure that you work with a real estate professional that will guide you through the process of selling your home. In conjunction with your agent, you should determine the asking price by reviewing comparative market analysis. This shows how much homes similar to yours in the same area have sold or are selling for. Another item to keep in mind when deciding upon your price is the amount of time you are willing to wait for a buyer to make an offer. The process of working with an agent will include signing a listing agreement, which is an agreement between you, the seller, and your real estate agent. It enables your real estate agent to represent you as your exclusive Seller?s Agent. The contract usually includes such items as the length of the listing period, desired sale price, and the amount of commission for the broker. An important factor in determining the right agent is to you know the marketing plan before obligating yourself to a contract. The obvious goal is to sell your home for the highest possible price in the shortest amount of time.

When you prepare your home for the sale, you want to make sure that it has good ?curbside? appeal, because buyers often look closely at the outside appearance before they even consider the inside. Make the outward appearance of your home as inviting as possible, but also ensure that the inside shows as being in good condition. Interested buyers for your home will present offers to your agent, who will then present these to you. A seller can accept, reject, or counter-offer . Once you accept one of these offers, a formal contract of sale will be negotiated and signed. Part of the contract usually allots the buyer a certain amount of time to have the home inspected by a Property Inspector. After this inspection is complete, the Buyer?s Agent will tell you that your home is in a secure contract, and the selling process will continue. The contract of sale says that the sale is subject to a clean and marketable title, which is the seller?s responsibility. Other ?must dos? that need to be taken care of before the closing are the appraisal, survey of the property, and final loan approval. After all of the above steps have taken place, there will be a final walk through of the home to make sure everything is in order. And, finally, the closing will take place.

For even more information of selling your home, and for FREE forclosure lists visit Walnut California Real Estate

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพุธที่ 12 พฤศจิกายน พ.ศ. 2551

A Primer on a 1031 Realestate Exchange

The 1031 realestate exchange is popular because it allows taxpayers to dispose of certain real or personal property and defer their federal, and in most cases, state income tax liability by exchanging the real or personal property (relinquished property) for qualified use like-kind property (replacement property). But investors should remain aware that the transaction is governed by IRS rules and regulations. To use this technique you must become a student of the concept.

A good first course is to have basic understanding of the rules for a 1031 realestate exchange. A good place to start is by knowing the different types of like-kind exchanges:

A simultaneous exchange occurs when the exchange (disposition) of the relinquished property (sale property) and the purchase of the like-kind replacement property occurs at the same time. The delayed exchange, the most common form of exchange, occurs when there is a time delay between the transfer (conveyance) of the relinquished property (sale property) and the purchase of the like-kind replacement property. This type of exchange is subject to time limits set by the Department of Treasury.

When the like-kind replacement property is purchased first, prior to transferring (conveying or selling) the relinquished property to the actual buyer, it is called a reverse exchange. Built-to-suit exchange refers to the technique of allowing the taxpayer to build on, or make improvements to, the like-kind replacement property, using the exchange proceeds before they actually take title to the property. And finally, the personal property exchange occurs when personal property is exchanged for other personal property of like-kind or like-class as long as the personal property has been held for investment, income production (rental) or use in a business.

Also, knowing the types of property that can be exchanged under a 1031 will help property owners find replacement properties in a changing market place. Qualifying use property is property that has been or will be held for income production (rental), investment or used in a trade or business. Your personal residence and vacation home are not qualifying use property and thus do not qualify for 1031 realestate exchange treatment. Assuming the property satisfies the qualified use test, then the property must also satisfy the like-kind test. Real property is like-kind to real property, so as long as you are exchanging real property for real property it will qualify as like-kind for 1031 exchange treatment. In general, any type of real estate may be traded for another type of real estate as long as it satisfies the qualified use test.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอังคารที่ 11 พฤศจิกายน พ.ศ. 2551

The Messina Bridge Development Will The Project In Sicily & Mainland Italy Commence?

If you are a property or real estate investor in Sicily, you will probably be aware of the ongoing situation regarding the proposed Messina bridge, which would connect Sicily and mainland Italy, by road, and drastically reduce the speed to travel between the two. The bridge would in effect probably greatly aid the Sicilian economy and make Sicily even more accessible and attractive to investors and realtors. With the defeat of Berlusconi from office, the bridge project (which would mean creating the longest suspension bridge in the world) this year 2006 looks unlikely to go ahead. The project was a pet project of Berlusconi's and Prodi who has taken over power, clearly seems to believe that the bridge is unnecessary and a waste of money.

On the 19th September 2006, approximately 1000 residents of Sicilian and neighbouring mainland areas i.e. marched in Rome to voice their support and desire for the Messina bridge project, demanding an improved infrastructure in the South of Italy, which has arguably, been neglected over the years. The North of Italy is more affluent than the poorer south. One group involved with the protest went as far as staging a pretend funeral to highlight the death of the bridge project. The protestors want the project brought back to life.

Sicily has lacked investment in the past and the protestors, who included Sicily's local government chief Salvatore Cuffaro, believe that the bridge would drastically help the Sicilian economy and also create thousands of jobs. The bridge has already been approved by the E.U. and there is a fair amount of opposition to the bridge, in addition to support for it. The opposition highlight the costs that would be involved, and concerns that the mafia could become involved in the financial side of the construction work. Others highlight concerns over the environmental impact of the bridge, if it is built. Many Sicilians though, feel that they deserve finally to get some investment into their depressed region.

Under Berlusconi, the bridge development would have commenced this year and finished 2012, at an estimated cost of more than 4 billion euros. Estimates in the media, state that the bridge would likely be able to handle four and a half thousand cars per hour, up to two hundred trains a day. This project would certainly help the Sicilian economy and also booast the Sicily real estate market.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันจันทร์ที่ 10 พฤศจิกายน พ.ศ. 2551

Evaluating Properties Back On The Market

As you house hunt for your dream home, you will often see properties that have come back on to the market. So, are these properties to be avoided or a good deal?

Houses popping on and off the market are a common occurrence. The situation occurs when the home is listed and an offer is accepted. At some point during the escrow period, the buyer and seller come upon an issue that results in the real estate transaction falling apart. At that point, the seller puts the house back on the market.

When considering homes that have come back on the market, a buyer must try to ascertain why the house is back on the market. In many cases, it can be a relatively simple reason such as the buyer thought they had financing, but could not actually get it. Sometimes, the buyer will also just change their mind or determine another property better fits their needs. None of these issues should cause you any concern if you are considering making an offer on the property. There is, however, another reason that should cause you concern.

In many cases, a home will fall out of escrow because the buyer and seller cannot agree upon a solution to a problem related to the property. The problem can be anything from issues with title to the property to defects in the property. This last issue is often the problem. A buyer will perform a home inspection and find there is some expensive problem such as termites, a leaking roof or something else. The buyer then comes back to the seller and demands it be fixed or the seller provides money for the buyer to make the fix. The seller then refuses or will not offer enough funds to pay for a fix. Obviously, this situation should be a warning light for buyers considering homes that have come back on the market.

So, how do you determine the cause of the problem that led to the home being put back on the market? One indicator is the price. Specifically, you need to compare the listing prices from before the failed transaction to the current listing. A reduced price, particularly a significant reduction, is almost always an indication that there is a fundamental problem with the home. Conversely, a similar listing price can be an indicator the problem with the real estate transaction was a buyer issue.

Homes that come back on the market can present dangerous situations or potential opportunities. The important thing is to understand why the original transaction failed.

Raynor James is with the site - FSBO America - FSBO homes for sale by owner.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอาทิตย์ที่ 9 พฤศจิกายน พ.ศ. 2551

How Long Should A Mortgage Last

Commonly, the standard term is considered to be 25 years. However you may choose a different term if it suits you and the lender agrees that you can afford it. You have to keep in mind that with a shorter term, you will have higher monthly payments but pay less in total. While with a longer term, you will pay less each month but more in total.

Above all beware of making financial commitments that continue past your retirement age unless you are sure you will be able to afford the payments. You should think twice, or even more, before taking out a 40-year loan to buy a house. With the skyrocketing price of properties many middle class family are attracted by this kind of mortgage deals. But the extra 10 or 20 years won't reduce the monthly payments all that much. And you will pay so much interest to the bank. Eventually your equity will grow so slowly, that your home will never be a good investment, helping you to save and build wealth.

There are many personal and emotional reasons instigating one?s family to buy or build a house. But financial considerations also play a big part in the decision, too. A home should become your foundation for building wealth. As you are progressively paying back your mortgage, your home should quickly become one of the most valuable things you own. Besides the equity you create by paying off the loan is a type of savings that you can use to send your kids to college or ensure a comfortable retirement. But if you have a 40- and 50-year loans. You don't build wealth because you have to give really too much of what should be your money to the bank.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันเสาร์ที่ 8 พฤศจิกายน พ.ศ. 2551

Home Appreciation Slows to Lowest Rate in Nine Years

Existing home sales fell 1.3% in June, according to the National Association of Realtors. This marks the eighth decline in 10 months.

June's average price of a sold home increased 0.9% from the year prior, to $231,000. This is the smallest year-over-year price increase since May of 1995.

Regionally, June's sales were down 3.5% in the Northeast and 2.3% in the South, while sales in the West and Midwest remained steady.

The supply of unsold homes has risen to a record 3.725 million units. The inventory is a 6.8 month supply at June's sales rate -- the greatest amount of time in over eight years.

Single-family home sales were down 0.9% to a seasonally adjusted rate of 5.81 million units, whereas sales of condominiums fell 5.5% in June.

David Lereah, NAR chief economist, says that home sales are beginning to level out after five years of record sales. With interest rates increasing, housing sales have slowed.

Lereah suggests that there are two markets seen in the industry right now -- one where red-hot markets are cooling, and the other where moderately priced areas are starting to heat up.

The NAR reports that sales have decreased in New York, Boston, Minneapolis and Chicago, but have increased in Syracuse and Pittsburg.

Overall, sales are increasing in Texas, Georgia, North Carolina and Tennessee, while decreasing sales are seen in Maryland and Virginia.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

Mortgage Marketing: Getting Those Closed Doors to Open With Real Estate Agents

Having trouble getting in to see real estate agents? You may find yourself hardly getting past your introductions before you are tuned out and it is almost impossible to change their minds long enough to give you a chance.

There is a way to overcome that invisible wall that comes up between you and the agent. It is a simple method refer to as focus on receptivity.

Basically, you need to focus on people that are receptive to you and your business. That person could be another agent in the office, a broker, the office manager, or even a receptionist. But the challenge is finding someone that is receptive.

Many industries have tried methods to build receptive connections, one great example is the headhunting business. Headhunters have it down to a science. Imagine getting a call from a headhunter. They immediately launch into their pitch about a great position with a six figure salary and complete medical and dental benefits with a company car included. Then before you can respond, they ask you if you know of anyone that might be interested in the job.

They have certainly got your attention, and they have taken the pressure off of you by giving you the out. Of course, by this time, you do not want to pass on this great opportunity.

You can use the same technique with your mortgage business. Start off with something like this:

Hi Steve, my name is Jeff and I have something important that I hope you can help me with. I am looking for a agent who is trying to find a lender that consistently produces referrals, helps double traffic to open houses, offers marketing assistance and always closes loans on time. Do you know of a agent in your office, or even have a contact from another office, that might be interested?

When you use an approach similar to this, you avoid creating a confrontation issue, instead it seems merely conversational. You are asking for their assistance or input, which is far less threatening, and makes them much more receptive.

Ultimately, you will get either get a referral for another agent, or the agent will jump in and ask for your assistance. There are other options for finding receptive people.

Find A Sponsor

Another option for establishing receptive relationships is to seek a sponsor. When you have a sponsor in the office, that person is far more likely to introduce you to others in the office and those people are far more likely to listen to you.

Do not overlook the support staff in the office. A receptionist can be your best friend. They know exactly what is going on in the office. Develop a friendship with the receptionist based on respect and genuine admiration and they will be an important asset.

The receptionist in most real estate firms watches a lot of high profit business go by, while they are on the low end of the totem pole. They can be very appreciative of attention, praise, and even occasionally small gifts. Do not push the friendship, let it unfold and they will be more than happy to support your efforts by giving you the names of the agents, along with their cell phone numbers and emails.

Give a Peace Offering

Whether it is a receptionist or an agent most people respond to a gift and consider it a peace offering. There are lots of little gifts that are inexpensive, while still being of value and putting a visual reminder of you and your business in an office space. One example is a small motivational book (these can be small enough to fit in a jacket pocket and only cost a couple dollars each), informational articles on marketing and real estate, and desktop items such as pens, paperweight, etc.

When you invest in creating receptive people, you earn interest that can yield big rewards for your business in the future.

Jeff Nelson helps loan officers increase loan originations by attracting quality relationships with real estate agents from the development of customized relationship-building strategies.

Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet.

Visit us at http://www.loan-officer-marketing.com

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันศุกร์ที่ 7 พฤศจิกายน พ.ศ. 2551

Need Extra Cash? Try A CashOut Loan

With so many different ways to get cash out of your home, many homeowners use their homes as a modern savings account. They invest and get returns, just like a bank. They also use their home as a way to get their hands on some cash when needed. There are many different types of ways to get cash from your home, but one that lends itself to getting your hands on extra cash fast is a cash-out loan. What is a cash-out loan? Well it?s rather simple. A cash-out loan is where you refinance your current mortgage for more than is currently owed on the principal and keep the difference as cash.

For example, if you currently owe $100,000 on your mortgage and you need extra money, you can refinance your current mortgage for $120,000. You may receive a better interest rate on your current balance and keep the extra $20,000. It?s really that easy. Also, you need to understand that a cash-out refinancing differs from the regular equity refinancing because it actually replaces your first mortgage.

Also, there are no closing costs when you choose a cash-out loan. However, by any means talk with your mortgage broker before deciding anything. Ask plenty of questions such as the follwing. How will a cash-out loan effect my payments? How much will be paid in interest on the newly refinanced amount? Will I still have the same payment due date each month? As with any financial decision, always search your options and know what you?re signing before putting your John Hancock on that dotted line. Enjoy your extra cash!

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพฤหัสบดีที่ 6 พฤศจิกายน พ.ศ. 2551

Missouri Mortgage What to Expect When Buying a Home in Missouri

Maybe you?re buying your first home in Missouri, or perhaps you?re relocating to Missouri from another state. Either way, it?s important that you educate yourself on Missouri home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Missouri:

The price of homes in Missouri varies widely between zip codes. For example, in Saint Peters, Missouri, the median price of a home in the summer of 2005 was $168,000; however, the median price of a home in Chesterfield, Missouri, was $225,000, and in Parkville, Missouri, it was $300,000. Overall, the median price of a home in Missouri is $89,900. Job growth rates in Missouri are about half that of the national average, and average interest rates in Missouri are above the national average.

Missouri is a non-community property state. Additionally, it is one of only 14 states that uses a ?Deed of Trust? as a mortgage. This means that a trustee holds the title of a house for a lender rather than the mortgage company itself.

Missouri?s Housing Assistance Programs offer mortgages with below-market interest rates and down payment assistance to veterans, and people with very low incomes or disabilities.

The Missouri Association of Community Action, Inc., offers a program to Missouri residents called the Missouri Building Assets Project (MBA). Participants in this program are given a savings account and attend money budgeting classes. They put money into a savings account every month with a savings goal in mind. Once they?ve reached their goal and attended a significant amount of budgeting classes, the MBA program leaders match their saved amount for use as a down payment on a home.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Missouri Mortgage Rates and Loans.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันพุธที่ 5 พฤศจิกายน พ.ศ. 2551

What Should My First Burnaby Acquisition Be?

When most people are thinking of buying their first Burnaby home, the decision is out of immediate need. The fact that this decision was the right one is of no importance at this point. Keep In mind that your first acquisition should be a property that helps you move closer to your goal. Understand that I?m not telling you to be side tracked in your investment path. You should accept the fact that the direction you need to take is to follow your goals. Why you ask? Galas are what dictate the life around you and what you should buy. Most people do not set proper goals in their life. This is all the more reason for you to understand that without proper goals, your efforts towards reaching any dream can be a series of disappointments and frustrations. To acquire a property simply for the sake of owning something may be a boost to your social standing and your ego. However, this will do little or possibly nothing to move you closer to your dream. The wrong property can and most likely will move you further away from your goal.

Are you currently renting your home? The first aspect of real estate ownership should be to consider buying your own place to live. While this concept may not be ideal for everyone, if you are settled in an area and expect to be there for 3-5 years, then in the absence of any other goal at all, this should be of a top priority. So what to buy? Well you have the choice of an apartment, home, an apartment building? Each has it?s advantages and disadvantages and your ability to deal with the complexities of these properties will help you make a sound decision.

A person who holds the ability to fix up both the inside and the outside of a property might consider a small apartment building that needs a bit of?. ?more then tender love and care?. This covers both your goals of owning your own property and having an income producing property. Having a place to live holds added income to cover your debt service ratio. This is the way to go!

Our rental network helps to find quality homes, apartments or vacation rentals in Canada's Fraser Valley area. Visit the website RentBurnaby.com for more information on Fraser Valley Homes and Apartments for Sale or Rent.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:

วันอังคารที่ 4 พฤศจิกายน พ.ศ. 2551

Will Long Term Home Ownership Lead to Profits or Declining Values?

The latest report from PMI Mortgage Insurance company looks at real estate trends. The report indicated that if you owned a home from 1986 thru 2005 in 50 of the largest metropolitan areas, you did very well. During that period of time, if you owned a home for 10 years or more, you profited 100% of the time. If you owned a home during this period for 7 years, the percentage of homeowners that profited were 95%.

The economics now are shifting. In the top 50 metropolitan areas of the country, 48 of them face a greater chance of a price decline this quarter then they did last quarter.

PMI assigns a risk index number to differfent markets. All 50 of the major metropolitan areas, except Chicago, have seen their risk index number go up. A risk score of 500 or more means the geographic area has a high risk of price declines in the real estate market. There are now 14 of 50 areas that have a risk score of 500 or more, which means that metropolitan area has a 50% chance of price decline during the next two years. The average score has increased from 261 last quarter to 284 this quarter. The metropolitan area that saw its risk increase the greatest was Minneapolis, MN, which saw an increase in its risk index of 90 points.

Of the metropolitan areas with the highest risk, seven of top ten are in California.

The report looks at volitile markets and stable markets. First let's look at the volitile markets. These include San Francisco, CA; Los Angeles, CA; and Dallas, TX. We are looking at a time period from 1986-2005. In San Francisco the return for any 5 year period ranged from a gain of 50% to a loss of 10%. The median return was 33%. Families staying in their homes for 15 years did not incur any losses. Their gains were from 14% to 25%.

Home buyers in Los Angeles saw the greatest losses during this time period. The median return for a 5 year period was positive at 25%, however, losses ranged up to 41% in some cases. A family that stayed in its home for 15 years in LA saw a return of 10% to 24%.

In the Dallas market trends were seen that were not seen in other markets. After 5 years of home ownership, homeowners saw their gains max out at 22%. Families who owned homes for 10 years or more did not see losses, but they did not always see gains either. During this time period gains ranged from 0% to 24%.

The stable markets looked at were Atlanta, Nashville and Cleveland. Atlanta had a median gain of 20% for 5 years of home ownership. For 15 years the gain narrowed to 11% to 15%.

In Nashville a 5 year homeownership ranged in gains from 6% to 25%. FOr 15 years of home ownership the gains were from 11% to 15%.

Home ownership in Cleveland for 5 years showed an increase from 7% to 23%. For 15 years of home ownership gains were from 12% to 15%.

Andrew Goldman is president of Metal Rabbit media services, the operator of http://www.Exchangetradedfundinvesting.com and http://www.carealestateinvest.com He has written a number of articles on finance and investment over the last ten years.

More articles at www.articles-host.com
เขียนโดย ที่ ไม่มีความคิดเห็น:
สมัครสมาชิก: บทความ (Atom)