Just about every area in the United States has experienced what most would consider a down market. As a real estate professional, it is important to evaluate your business on an on-going basis, specifically, when the market begins to slow down. In the Northeast, we are beginning to see signs of what we would consider a buyer's market. This is unusual for the area, which is an adjustment for sellers, and quite frankly, some of the newer real estate agents that have not been accustomed to taking a consultative approach with their business. There are a few key elements to developing and continuing a steady stream of clients.

Client relationships-Quality real estate agents consistently discover that their business is closely tied to the relationships they have built over many years. Building and nurturing those client relationship results in trusting relationships and referral business. Focusing on client service, with a long-term view of those client relationships, creates value.

Clear, written plan-Successful agents develop a detailed business plan including how many closings they are targeting for the year, the activities tied to reaching their closing goal, and the amount of personal promotion money that they will allocate to build their business. These goals should be visible to the agent, and not just developed at the end of the year (for the next year) and stuffed into a file. Having a focus on your goals on a daily, monthly, quarterly basis will increase your odds of consistent, viable business.

Market Knowledge-As the market begins to turn, it's not only important to have the statistics for your buyers and sellers, but also have the in-depth understanding of the impact. Being able to articulate the changes in each neighborhood, price range, and overall market will add to your credibility as a sales professional.

Communication with your clients-Changing markets do strange things to both buyers and sellers. Anxiety is created with change. The most effective way to help your clients through the change is keeping them apprised of all of the news, whether good or bad. Clear, consistent, and thorough communication also develops long-term client relationships.

Melissa Riley is an Office Leader with Prudential Connecticut Realty. She is a 24-year veteran of real estate and relocation. Visit her website at http://prudentialctcareers.com/

Posted in: on Wednesday, December 31, 2008 at at 10:37 PM 0 comments  

Becoming the owner of a house can be a proud moment, but one should understand that it brings with it a lot of responsibilities. The most important things are maintenance, capital or finances, bills, and the process of increasing the home?s value so that it also becomes a good capital investment in the long run.

People generally use a mortgage loan for funding their home purchase. Most lending companies require the mortgage customers to buy homeowner?s insurance. They give certain mandatory levels of coverage, but these need not be necessarily adhered to, as they just cover the house, and not the belongings inside the house. There are several kinds of homeowner insurance policies, the most basic ones being HO-1, HO-2, HO-3, HO-4, H0-5, HO-6, HO-8, HO-A, HO-B and HO-C. Each of these policies is different and caters to different homes and individuals. An agent would be able to help you decide on the right kind of policy.

Taking out a homeowner?s insurance policy requires the declaration of some information, such as occupation and employment history, credit history, marital status, date of birth, social security number, and previous address. Analyze your home and your possessions, and try to give a value to everything in it. Insurance companies consider several factors such as the age of the home, size of the home, condition of the home, number of people residing, location with respect to the fire station and fire hydrant, materials used to build the home, the number of rooms, and so on. You can save significantly on the insurance premium if you have certain safety equipment installed in the house. Understand the difference between replacement costs and actual cost value. Keep updating the policy when you enhance the value of your property in any way. You can also take additional insurance that provides coverage for floods or earthquake-related losses.

Home Owner provides detailed information on Home Owner, Home Owner Insurance, Home Owner Insurance Rates, Home Owner Insurance Companies and more. Home Owner is affiliated with First Time Home Buyer Programs.

Posted in: on at at 5:37 PM 0 comments  

Working in the Los Angeles area but looking for an affordable area with lots of local things to do for yourself or the family? One of California's best kept real estate secrets is the Santa Clarita Valley located just thirty-five miles northwest of Los Angeles. Homeowners enjoy picturesque vistas, beautiful lakes, recreation to fit every family member's need, award winning schools, cultural venues of varying genres; and best of all, Santa Clarita Valley is close to metropolitan areas surrounding and including Los Angeles.

Choices for Homes in Santa Clarita range from single-family residences to condos, apartments, and even assisted living facilities. Over 40% of the new homes sold in 2004 were condominiums. There is a distinct increase in these dwellings since the prices are more affordable, and there is less maintenance. Apartments are not as readily available because living in Santa Clarita is highly desirable and rents continue to rise. The average rent on a two-bedroom apartment for example was around $1,450 in 2004.

Home sales in Santa Clarita are breaking records and have been for the past three years due to favorable interest rates and high demand. The city is located in Los Angeles County just 35 miles northwest of LA. The population, as of March 2006, is estimated at 177,418 with a median resident age of 33 years old. Santa Clarita was the fastest growing city among the cities with a population of 150,000 in 2003.

Santa Clarita, while supporting business development, has a strong respect for the environment making it a safe and hospitable location for both families and businesses. In fact, California Business magazine states The city is the second best mid-sized city in which to conduct business. And City & State magazine named Santa Clarita one of the top five up-and-coming cities in the entire nation.

Santa Clarita boasts many attractions designed to please the entire family. From Amusement parks to lakes and parks to golf courses, there is something for everyone in the family. This fine community is considered one of California's best kept secrets.

Alison Leaderman does online marketing for Gold Feather Realty where traditional channels and new Internet advertising channels are used to market your home to the widest possible audience. See current Santa Clarita Valley real estate for sale through our MLS home search capability and also get free daily email updates on personal search choices.

Posted in: on at at 12:37 PM 0 comments  

What if you could come up with a technique that would allow you to consistently talk with high-producing agents, without the fear of rejection or high-pressure sales tactics?

One way to this would be to contact several real estate agents, it does not matter if you know them or not. The only purpose of the call is to find out as much about the agent as you can. Introduce yourself to the them and do a simple, short, telephone survey.

Some of the questions you should ask them are:

How long have they been working as a real estate agent?
Do they typically represent buyers or sellers?
What are their typical activities on a daily basis?
What are their short term and long term goals?
Do they feel like they are on the track to accomplishing the goals?
What are some of the obstacles that are keeping them from meeting their goals?
What causes them the most stress in their business?
What do they need to fix it?

Notice that none of the questions are anything other than real estate related. Do not ask any questions related to mortgages or mortgage clients. You will find that instead of having to pry the information from the agents, you will not be able to get them to stop talking.

Most people have one favorite topic of conversation, themselves. There is nothing they like better than to talk about themselves and the problems their facing. Fortunately, most people never run out of problems to talk about.

Ultimately, you will receive several positive comments from the agents:

The agents will say how much they enjoyed having someone listen to them.

When the agent realizes it is not a sales call, which was stated from the beginning of the call, they will immediately open up.

Almost every survey call will end with the real estate agent asking the loan officer for more information about their mortgage services.

The survey technique is a great strategy for several reasons. It allows you to determine which real estate agents are producing at the level you require. You will gain access to the agent in a non-confrontational, non-selling situation. And it gives you an opportunity to lay the foundation for future sales presentations. Save your sales pitch for your second call. On the second call you can show them how you can solve their problems.

Does the idea of cold-calling agents, even for a survey, intimidate you? Consider approaching the agents with the survey through email. Surprisingly, you will get some response from agents.

Develop the survey into a paper-based form and give to buyer agents at closing. You will be amazed at how many agents take time to complete the survey.

When agents take the time to complete the survey, whether over the phone, through email or in person, you know which agents are receptive to you and are interested in establishing a relationship. Your simple survey will open doors, now and for a future relationship.

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

Posted in: on at at 7:37 AM 0 comments  

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.

Posted in: on at at 2:37 AM 0 comments  

Owning a home is a dream for many people. With escalating real estate prices and the easy availability of loans, this is becoming a reality for most. Buying a home, especially for the first time, may be a daunting task. There are several aspects to be considered, and many decisions to be made.

Home buying involves several stages: locating the right kind of house, adjusting the finances, contacting a real estate agent, contacting a mortgage company, making an offer to the seller or to the agent, getting the loan, making the home inspection, getting a pre-approval, making the down payment, signing the contract, making any repairs or enhancements to the house, and finally, moving in.

The most important aspect to be considered before buying a house is to decide how long you would be staying in the house. Selling it too soon after buying would lead to loss of money in the form of transaction costs. Another most important formality is to check your credit report. A good credit report would not only ease the process of getting a mortgage but would also fetch a good interest rate. Look for a house you can easily afford -- most buyers put in too much money into the house, which in turn leads to a lot of frustration later. Check out the best mortgage option that would suit your requirements, both in the short and long run. Engage an agent, as this would give several advantages such as a wider choice of houses, a comparative market analysis, better negotiation with the seller, professional dealing with home inspectors, closing agents and other professionals, and representation in any problems or issues.

Make a survey of the prices of other houses that have been sold in the area in the last three months. This will make negotiation easier. Hiring a home inspector would also help. Make sure of all the documentation before the final deal. Take a particular look at the settlement statement, loan papers, contract, title deed, title insurance, homeowner?s insurance policy, and the closing cost estimate. Get a title search done. Check out the kind of disclosures the seller has to provide. Keep records of all the payments you have made to the agent, seller, or anyone else.

Home Buying provides detailed information on Home Buying, Home Buying Process, Home Buying Tips, Buying A Home With Bad Credit and more. Home Buying is affiliated with Home Selling Assistance.

Posted in: on Tuesday, December 30, 2008 at at 9:37 PM 0 comments  

Countless assets owned by private entities are being seized by the government every single day. These assets range from cars to boats and furniture to homes.

Among these things, nothing has more value than government seized houses. Almost all the other items depreciate in value; unlike government seized houses which actually increase in market price over a period of time. It is therefore a good idea to include government seized houses in one's options in buying a home.

Buying government seized houses is advisable not only to people who want to acquire a home, but to people who want to make good money out of reselling houses.

Here are some tips that can help you in finding your ideal home among the numerous government seized houses out there.

1. Consult The Experts

Always consult with an accredited licensed real estate broker when you are planning to buy from the many government seized houses. While you certainly have to incur commission expenses if you make use of their expertise, the good thing is you will have a worry free purchasing transaction.

Besides, the total acquisition cost of government seized houses including the broker's commission is still not that huge when compared to buying a new house.

2. Seeing Is Believing

Check out the government seized houses that are on your list. Remember that government seized houses are sold at bargain-based prices because the government does not normally repair or renovate them before being floated in the market.

The government has no disclosure policy as to the condition of the houses. And so the structural and aesthetic order of the house could be found wanting. So beware!

3. Learn The Ropes

While looking at government seized houses is a good way to find the house of your dreams, it can also be a good source of income.

Many people have raked in a fortune by just buying government seized houses, spending a little on repairs and improvement, and finally, selling the newly renovated house for a hefty profit.

Largely, the government has to contend with rising deficits, hence, its need to immediately dispose of the things it has confiscated or seized. The logical strategy is for the government to drive down the prices particularly of government seized houses.

So if you take advantage of this concept, you can actually earn a lot by reselling sequestered properties you won at auctions.

Truly, a road to take when you are looking for your dream house is to scout for the latest auctions for government seized houses. Good luck on your house shopping!

For listings of government seized houses, please visit http://www.buy-cheap-houses.info/.

Posted in: on at at 4:37 PM 0 comments  

Selling your house fast would normally mean that you have a sale contract in place within a few weeks of listing. This is definitely possible if you prepare yourself well.

Once you have made the decision to sell and you want fast results, it is better to hire a reputable sales agent for the task. You could also list your house online and request that your agent put advertisements and flyers in neighboring areas. You may also offer the agent an incentive for a speedy sale. In the meantime, determine an appropriate value for your house. But selling a house quickly should not mean that you are selling it at any cost. The right price will help you sell it faster. Again, the agent could help you in valuing your house. Check with some valuators to ensure you are not underselling.

For a quick sale, it pays to be flexible in the negotiations. It is sometimes required that you reduce the original price. So plan how much you are ready to negotiate. If you do not stick to your planned price reduction, chances are you might end up selling at a much lower price than the current market value. List the benefits of the house and location. And make sure the house is neat, well-lighted and presentable, inside and out. Inspect the house yourself or have it examined by a professional, and make the necessary changes to help it sell faster. If required, replace any leaking and broken fixtures. Try to be available all the time so that you do not miss any prospective buyers.

Finally, treat your prospective viewer respectfully, and let him look around the house. Do not try to hide any defects. Instead, be honest about all major problems, if any. This will bring trust to the relationship. Also, clearly indicate what accessories will be included as part of the sale. You may even contact professional real estate investors if you want to sell your house fast. But they generally tend to pay less than the market value. Do not fall for any unduly attractive deals. Stick to your goals and do not sell the house in distress. If there is an immediate need for cash, try to check other options for meeting this demand. Otherwise you could end up in a deal that you might regret later.

Sell House provides detailed information on Sell House, Sell Your House Fast, Sell House By Owner, Sell Your House Online and more. Sell House is affiliated with Real Estate Note Brokers.

Posted in: on at at 11:37 AM 0 comments  

Sales goals are just as important in real estate as they are in any other business. Successful goal achievement begins with using valid criteria and understanding the linkage between sales goals and strategic planning.

Within your strategic plan for your real estate business, there should be a sales plan. This plan centers around specific sales goals to secure the result of converting those who have received your marketing message to an actual selling or listing client.

After establishing specific goals, then your challenge is to monitor these goals to ensure achievement. If you are new to this industry, it may take 6 months before the first sale. HINT: Use the W.H.Y. S.M.A.R.T. criteria for goal setting.

Many real estate agents have goals, but very few have integrated specific goal setting criteria into their goal planning, goal setting and goal achievement process. The S.M.A.R.T. criteria:

• Specific
• Measurable
• Attainable
• Realistically Set High
• Target Date/Time Driven

are not new, but unfortunately, still not utilized as much as they should be.

One of the reasons for this is because the What?s In It For Me (WIIFM) or the W.H.Y. has not been included. All goals should be committed to Writing. When sales goals are written down, the intangible thought now has some substance and becomes more real. The paper can be not only actually seen, but also touched. Suddenly, the sales goal appears to be more concrete than just a wish or a dream.

Additionally, goal planning, setting and achievement is a process that should become a Habit of behavior. Weekly written grocery lists or the daily to do lists are habits that improve performance. Planning, setting and executing sales goals should become a habit that is consistently demonstrated on a weekly, monthly and yearly basis.

Finally, goals need to be Yours. Achieving goals for someone else usually are not successful because of the WIIFM. When the business sales goals can be translated into your specific goals, then you have greater ownership of the goals.

When the W.H.Y. S.M.A.R.T. criteria are infused into sales goals, successful goal achievement has been greatly increased. For example, using the industry average of 6% commission rate with 3% going to the listing broker and 3% going to the selling broker, the typical real estate agent averages 1.5% commission unless she or he listed and sold the property. If the sales goal is to earn $20,000 the first year, this means that the agent must achieve listings or sales of over $1.3 million. By the second year, the goal may have been increased to an income of $30,000 which translates into listings or sales of $2.0 million. By having the marketing research, the sales plan is data and market driven. Consequently, the agent can determine how many homes he or she needs to list or sell based upon the $1.3 or $2.0 million.

Sales goals are directly tied to the market plan within the strategic plan. Without goals, the real estate agent is embracing what I call the spray and praysales technique.

Spray your sales efforts on the wall and pray that they will stick giving you a sale.

P.S. Read 7 Tips to Real Estate Agent's Success: Tip #3 - Research Your Market Plan

Leanne Hoagland-Smith quickly doubles results for her clients from individuals (small businesses owners, entrepreneurs and young people) to large organizations by creating executable strategic action plans along with the necessary business skills to pull it off. By closing the gap between today's unsatisfactory performance to tomorrow's goals, limited resources are maximized with waste including time being reduced. Please feel free to contact Leanne at 219.759.5601 or visit http://www.processspecialist.com/ and explore how she can help you.

One quick question,if you could secure one new client or breakthrough that one roadbloack holding you back from success, what would that mean to you? Then, take a risk and give a call at 219.759.5601 to experience incredible results.

Mention that you read this article and receive a complimentary 45 minute coaching session.

P.S. If you are seeking an affordable speaker for that special event, Leanne may help fit your current speaking need.

Posted in: on at at 6:37 AM 0 comments  

Home sellers who learn about marketing psychology and home staging can take advantage of unconventional selling strategies. If you're selling a home or investment house, you might need some extra help to generate a speedy, top-dollar sale. Here are three cutting edge home selling concepts to help you.

1. Marketing Psychology

Study the Internet marketing masters. Notice that effective sales letters don't list the features of a product. Internet marketers know that people buy because they want the benefits.

Structure your sales materials for your product keeping in mind what your house can do for the buyer. Instead of listing a long list of features, turn the amenities into benefits to the home buyer. For instance, instead of listing 2,050 sq. ft, 2 story, say: Spread out in huge two-story home of over 2,000 square feet. Think about your potential buyers and target your benefits to them. First-time home buyers care about privacy and easy payments. Move-up buyers care about status and luxury.

2. Home Staging for a Speedy Sale

Staged homes sell faster for many reasons. Staged homes make buyers feel at home--instead of feeling like an intruder in someone else's home. Agents love to advertise and show a staged home. Appraisers even give credit for buyer appeal.

3. Home Staging with Design Psychology for a Speedy, Top-Dollar Sale

Design Psychology takes home staging further by applying marketing psychology to interior design.

Always consider your target market and their emotional needs. First-time buyers want shelter and security, while move-up buyers desire prestige and peace. After you've cleaned and shined your home, set the stage. Add a few props, carefully selected to encourage a prospective buyer's desired emotions and paying special attention to happiness, joy, serenity, and security.

Home Staging with Design Psychology, unlike traditional home staging, brings into play:

* Market colors instead of bland white walls: market colors are selected based on the buyers' profile and proven preferences.

* Furnishings for feelings: stage a lifestyle step-up.

* Props to entice buyers senses: unlike normal home staging, you don't need rooms full of furniture.

What do home buyers want? They want a home that meets their needs. However, they'll eventually buy the home that makes them FEEL happy and one that will impress their friends, because they also want to be proud of the home they've chosen. Your choice of decorating colors, patterns, textures, and furnishings will influence the way a prospective buyer feels, and the buyer's feelings will impact their choice of housing.

Copyright ? 2006 Jeanette J. Fisher

More information about Staged Homes

Learn about Home Staging from an interior design teacher. Jeanette Fisher offers free Home Staging Information and teleseminars. Find out how to profile your prospective home buyer and set the stage for a top dollar, faster sale. Sell Your Home Fast: http://sellfast.info

Posted in: on at at 1:37 AM 0 comments  

Many homeowners are now paying to have an appraisal performed on their home before putting it on the market. Alan Hummel, chief appraiser for Forsythe Appraisals LLC of St. Paul, Minn. says that many homeowners are willing to pay the cost upfront.

Presale appraisals for the firm increased during the first quarter, said Hummel, as the residential real estate market has begun to see cooling in many areas and an increase in inventory.

Although many real estate agents conduct their own market analysis to price a property, the appraiser is able to come up with an independent, unbiased opinion to price the property, said Hummel. If a property isn't getting any interest, an agent might encourage the client to have an appraisal performed to make sure the home is priced appropriately.

Now, you've got to be competitive and you have to know that the offers coming in are reasonable, said Hummel.

An appraisal looks at a property from a visual standpoint. It takes into account everything from cracking paint to the proximity to schools and shopping.

We are trying to react the way a typical purchaser would, said Hummel.

The appraiser will look at the health of the local real estate market, which gives a homeowner a personalized expectation for selling the home. The homeowner must remember that the market can vary from area to area -- national news about real estate slow downs may or may not apply, said Hummel.

The appraisal report will include the details about the home, a description of the neighborhood and a side-by-side comparison of similar homes in the area. It will evaluate the area's real estate market, make notations of any major problems that affect the property value and estimate the time it will take to sell the home.

The appraisal is a opinion of the home's value. It is based on similar homes in the area that have been sold recently. It is not the same thing as a home inspection. It deals with the value, the inspection deals with the condition.

You pay for the appraisal when you purchase a home. You should request a copy from your lender, you have a federal right to receive it. When you have the house appraised before you put it on the market, you simply pay the appraiser and receive the report.

It is wise to have your home appraised before putting it up for sale. It will help you to accurately price your home. This can help you avoid problems later. You could find that you priced your home for too much or too little.

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!

Posted in: on Monday, December 29, 2008 at at 8:37 PM 0 comments  

When it comes to real estate, there are few things more important than equity. All of the advice given to first-time homebuyers centers on how much equity they are likely to build in the time they will be living in the home. Additionally, when it comes to getting a home equity loan or selling the house, knowing how much equity you have built up is quite important. It will determine how much cash you end up with. And that is no small consideration.

A Definition of Equity

Most of the time, equity refers to the amount of ?ownership? you have in a particular piece of real estate. A set amount of cash is the main expression of the equity in your property. Equity is usually built by a combination of two things:

1. Making mortgage payments
2. Increases in the property?s value

The longer you have the real estate, and make payments on it, the more equity you are going to build up in the property. And if you live in an area where the home values are increasing, you will find that helps with your equity as well. This is the reason that the general advice is to buy only if you plan to stay in a home for at least five years. This gives the property time to appreciate, and it allows you the time to pay down some of your property loan?s principal.

Determining Your Real Estate?s Equity

It is usually very simple to figure out how much equity you have built in your real estate. First, you need to find out what the current market value of your home is. You can do this by talking to a variety of real estate agents, mortgage loan officers, and appraisers. Next, you subtract the amount that you still owe from the market value of your home. The result is your equity. Here?s an example:

You bought your home 11 years ago with a loan for $115,000. Now, however, the property at current market value is worth $135,000. And you have paid down some of your loan, still owing about $75,000. To figure your equity, you subtract the $75,000 from the $135,000 for a total of $60,000. This is about how much you could expect to pocket if you sold the home at current market value, or the amount of money you would have access to with a home equity line.

Visit Home Equity Wise to view our Recommended Home Equity Lenders online. Also, visit Home Equity Wise to find information about obtaining a Home Equity Loan Online.

Posted in: on at at 3:37 PM 0 comments  

There are many little lines drawn within the real estate business. Realtors understand these lines and often are the best way to contact a buyer or seller about a certain property.

Many homes sell without the buyer meeting the seller until the closing. But it isn't uncommon for buyers and sellerst ot meet each other. This is especially true in areas where there is a high volume of for sale by owners. They become acquaintances. It is often nice to know the person purchasing your beloved home.

The key to the meeting, whether you are a buyer or seller, is to keep everything flattering and lovely. Talk only about the things you adore about the property. If you are planning on remodeling, don't tell the current owner, it may offend him or her.

In fact, being personal can often get your offer accepted when mulitple offers are on the table. For example, one set of buyers wrote the sellers a letter about their love of the decor of the living room. They then sent flowers that matched the decor of the room perfectly. The sellers saw that the buyers wanted the house, appreciated the efforts made to the home and that the buyers demonstrated the desire to continue to make it a lovely home.

But being too open and friendly can blow a deal. For example, one couple went over to the home and introduced themselves to the owners about a week before the closing on the transaction. They chatted and spoke for a while about the area and the home. The sellers asked what the buyers were going to do when they moved in. The buyers answered that they were going to tear out the stair railing, fireplace surround and wainscotting from the house and replace it with something more modern.

Little did they know that the sellers had hand restored the home to its original condition using old photographs and research materials.

The buyers called their agent and backed out of the deal immediately.

The moral of the story -- if you meet the seller, keep the things you don't like to yourself. You should ask questions, but don't offer any answers. Talk about what you love about the house and don't try to offend the seller.

After all, there has to be a reason you are buying the house. Find it.

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!

Posted in: on at at 10:37 AM 0 comments  

Everyone involved in the sale of real estate has a vested interest in the results of a real estate appraisal. The outcome affects the seller, the buyer, the lender, and even the realtor.

A too low valuation of the property by the appraiser could mean a seller must lower the asking price. For a lending officer, it could mean a lesser commission or none at all. A too high valuation means the buyer could be paying more than the property is worth. For the realtor, his/her commission could go higher or lower, which is based on the purchase/sell price of the real estate.

An appraiser, who should be licensed by the state, performs the real estate appraisal. It is best to hire someone local with years of full-time experience in order to get a more accurate appraisal. The appraiser and appraisal are governed by the minimum standards, published periodically in the Uniform Standard of Professional Appraisal Practice by the Appraisal Foundation. The Foundation is chartered by Congress.

The recent real estate bubble, unfortunately, brought problems for appraisers and many involved in real estate transactions. According to Realty Times in their April 2006 issue, appraisers have been routinely asked by lenders to inflate real estate values to keep up with the ever-rising real estate market. One real estate appraiser in San Diego quit and turned in his license to the state, after being fired three consecutive times for refusing to inflate his valuations. Now, real estate appraisers across the United States are under a microscope from federal financial regulators and Congress.

The real estate appraiser may be hired by the seller to determine an accurate selling price or by the buyer to ensure the accuracy of the purchase price and mortgage; but generally, the lender does the hiring or uses their own in-house appraiser. Though buyers may assume the lender has their best interest, mortgage lenders have their own best interest at the forefront, especially some not-so-scrupulous lending officers who may be targeting a higher commission.

If I were a seller, I would hire my own real estate appraiser to ensure I was getting the most for my property. As a buyer, I would put the money out upfront to hire an independent and objective appraiser with no connection to anyone within the real estate transaction. This ensures that I do not contract for a mortgage, based on an inflated appraisal valuation, that will give me a new home with a lower or negative equity. The lender still may require a different appraiser.

If five different real estate appraisers evaluated the same property within the same timeframe and under the same conditions, it could result in five different and varying real estate valuations. Why? There is no set checklist or established value for each property feature and amenity. Though appraisals are based on prescribed standards, it is a subjective process.

If there is more than one real estate appraisal and they disagree significantly, you have options. If the value is too low for the seller, renovations may raise the value ? or you can decline to sell. If the lender insists on its appraiser?s value, which disagrees with your real estate appraiser?s value, as the buyer you can look for financing elsewhere ? or decline to purchase the real estate. There also is the option to bring the appraisers together to come to a common agreement on the value.

Remember, the person looking out for your best interest is yourself. Ensure the appraiser in your real estate transaction is reputable, objective with no connections to anyone in the transaction, local and experienced.

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

Posted in: on at at 5:37 AM 0 comments  

The value of land is of great importance since its quantity cannot be increased. To be in possession of any type of recreational land in America is a status symbol. In the Midwest alone there are more than 20 million people contending for the few remaining lakefront properties, as this property is turning into a rarity very quickly. Wisconsin lakefront properties are becoming hard to find, if not impossible. Properties with brooks, streams and small ponds are becoming scarce, and hence the request for attractive parcels is ever increasing.

As far as lakefront property is concerned, Wisconsin has a lot to offer in terms of variety and quality. Geneva Lake is the second-deepest lake in Wisconsin, and property on its shores is particularly popular. It provides a taste of splendid scenic beauty. This lakefront provides some of the best properties with a reasonably priced investment, and taxes are not too high.

There are other lakefront properties next to the No-Wake lakes, where one can enjoy camping, hunting, and fishing without any disturbances since the area around is extremely quiet. There are fly-fishing streams close by where one can experience canoeing and kayaking. Winnebago, Wisconsin's largest lake, offers some very beautiful lakefront properties which are charming and pristine. Apart from these, the Green Lake, which is the deepest and also one of the most gorgeous lakes of Wisconsin, has a few rare and expensive pieces of lakefront property. One can find some of the most magnificently clear views of the Green Lake. Peaceful waters and a shallow shore provide safety for children to swim.

For someone who is looking for a lifetime of tranquility and fun, Wisconsin lakefront property is the option to look out for.

Lakefront Property provides detailed information on Lakefront Property, Michigan Lakefront Property, Lakefront Property For Sale, Wisconsin Lakefront Property and more. Lakefront Property is affiliated with Lake Havasu City.

Posted in: on at at 12:37 AM 0 comments  

Unit investment strategy to get your renovations done for free!

I want to share with you a very creative way a friend of mine is using to get all her renovations done on a new investment property for little or no cost. What Debra is doing is very creative and will only need to be monitored by her with everyone else doing all the work and paying for the costs.

Debra has bought a block of units in a capital city that are in need of major renovations. In all there are ten units. Debra has secured the units on a long settlement with the vendor happy to allow her to start renovating them immediately. What she has planned to do is call this project the Pot of Gold event.

She has approached local charities to see if they would be interested in taking over the renovation of one unit each. They will co ordinate and do all the work. Meanwhile Debra has approached local television stations to see if they would be interested in televising the whole project from start to finish. The television will be used to promote the sponsors who donate the materials to be used in each unit and also to promote open days where the public is invited in to view the progress.

When people visit the unit site they are asked to donate a gold coin as an admission charge. This gold coin donation goes into the pot of gold. It is planned to have five open days. Each open day will be the focus of a particular stage of the renovation. The open days will be for the whole week end, to give people a chance to get there if they work on the saturday. So in a a capital city you can imagine there will be a lot of people attending. The pot of gold will be worth a lot of money by the time the project is finished.

The charity that is judged to have done the best make over on their unit will win the pot of gold. The public will be asked to judge who is the winner. They will be able to view the progress of the units renovation at the open days and also on the television. All round every one will be a winner. The charities will have the chance to win the money, the material suppliers will get valuable TV and press exposure, the TV station will get better ratings, Debra will get her renovations done for little or no money and Debra plans to use the units for a safe house for recently divorced women who have an income, but need a safe place to settle in and get back on their feet. The rents on the units will be a a reduced rate under the local median average. This will be Debra's way of helping out people in need.

At time of writing this article Debra had eight charities interested and a TV station ready to come on board. Debra also plans to approach the local minister of housing to apply for a reduced rate on the governmant stamp duty. I think the chances of this happening will be good as Debra plans to outline how she will be helping to house women who are going through a difficult time and what Debra is doing here is assist the government with short term housing. Any assistance from the government will be looked upon favourably by every one. All in all this will be a win/win situation for everyone.

Debra will be able to renovate the units while the investment property is settling, then there will be women waiting to rent the units because of the TV exposure. The amount of interest this will create will have real estate agents calling Debra and wanting her to do the same on other real estate investment properties they have on their books. Debra will be real estate investing for profit and using little of her own money. I feel this strategy leverages your time and resources. It is a quick way to achieve capital growth.

To your investing success Leo Love

PS If your family or friends are interested please pass this on to them

www.therealestateinvester.com

http://www.therealestateinvester.com

I am an experienced and passionate investor. I buy typical mum and dad type houses that give me cash flow and capital growth. My website offers helpful tips and ideas for any type of investor to help you with your wealth creation. Using my site will help to prevent you falling into the traps the inexperienced investors do.

Posted in: on Sunday, December 28, 2008 at at 7:37 PM 0 comments  

Real estate experts predict that the demand for housing in Houston, Texas, which has surged recently, will continue to rise in the foreseeable future. This means that for real estate agents and brokers; Houston can become a very lucrative place where they could practice their profession. However, this also means that real estate agents or brokers who want to work in Houston should expect that they will face stiff competition from other real estate professionals who also want to get in on the action. Given this, it is then very important that real estate agents enroll in a very good real estate school, which can provide them with the tools and skills they need to be successful in Houston.

Finding the right real estate school in Houston

Finding the right real estate school in a place like Houston, Texas, which has a very healthy real estate market can be a bit of a challenge given that there is a large number of real estate schools that have ?sprouted? in the area. However, there are still some steps that realtors can take to gain access to the right real estate school in Houston. Some of these include asking the right questions and looking for certain things from the real estate schools that realtors are considering. One of the most important things that realtors should look for is the course outline of the school, as it can help them assess the relevance of the courses that the school provides. In relation to this, realtors should also look at the reference materials that schools are using, as much as possible; realtors should pick a school that uses books that were written by some of the most notable real estate authors like Gaines, Coleman, and Crawford.

As to some very important questions that realtors should ask real estate schools, one example is to ask the school on how long it takes to finish the course. Other important questions include asking about the support that the school would provide their students with regard to the licensing process and on the continuing education programs that the school provides its alumni.

To be able to succeed in Houston, realtors need to gain access to the right real estate school that can provide them with the skills, which can help them do so. However, given the large number of real estate schools in Houston, picking a school can be a bit difficult. The good news is that there are some steps that realtors can take to help them pick the right school for them, which include asking the right questions and looking for certain things from schools.

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

Posted in: on at at 2:37 PM 0 comments  

No matter where you live, the real estate market will either be a buyers' market or a sellers' market. It might even be slightly in between the two market conditions.

Most real estate agents consider a normal market to be one in which homes take an average of six months to sell. That means that in the MLS, there are at least six months of homes on hand to sell for the number of buyers in the market. If the number is higher than six months inventory, then the market is becoming a buyer's market. If it is less than six month inventory, then the market is swinging towards a seller's market.

Many formerly hot areas of the country are now becoming buyers' markets. In these areas, there are now too many homes on the market for the number of buyers. Homes are taking longer to sell and the prices are falling.

Some buyers believe that winter is always a buyers' market. It is true that there are fewer buyers out looking during the winter, there are usually fewer homes on the market as well. Seasonally conditions aside, a buyer's market is seen when buyers realize that their interest in a home is sought out.

When a buyer gains the control they will increase their demands o the sellers. They ask for things to be conveyed with the property, such as appliances and decor, that normally wouldn't be. They may ask for a home warranty at the seller's expense. Some demand the seller pay an increased portion of the closing costs. The contingencies can go on and on.

Not all sellers will lose out during a buyer's market. People who have owned their homes for a long time are able to sell at a profit, despite the buyer's market, due to the equity they have built up.

Sellers who must sell quickly will often take little or no profit from the sale of their homes, with a few taking a loss. These homeowners often have little or no equity built up in their homes.

One thing you can always depend on is that the market will eventually flip back to a seller's market. It is a never-ending cycle. If you find that you are a seller in a buyer's market, you could just hold on until the market turns back in your favor. But if you have equity in your home and have wisely maintained it, you may not find the buyer's market too unfavorable.

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!

Posted in: on at at 9:37 AM 0 comments  

Do you want to invest in overseas property but are worried about the risk?

In that case, you will be interested in the region below where property speculators have been making solid gains of 30 ? 100% annually for several years and prices look set to move far higher.

The region is:

Central Pacific Coast Costa Rica.

Were not talking about an area that could take off but has taken off for overseas property investment.

More gains are coming and we will give you the reasons in a bit.

Lets look at the gains first at if you want a second home a villa a condo or a retirement home in the sun gains here are fantastic.

For instance buyers who purchased $30,000 of property in the town of popular town of Jaco, 15 years ago are now worth more than $750,000.

Another example of great gains can be seen are at Marriot Corporation Los Suenos Resort, they pre sold condos of 2000 square feet for $250,000. The following year they sold more at $350,000.

Now this years top end units are being sold at $450,000 to $850,000 and there is not enough supply to meet demand.

So why will this area make more gains?

There are several reasons:

1. It?s an established community with huge foreign investment and this inspires confidence for more people to come.

Its not an area that may take off it has and with all areas that do, property booms can last for decades and this one looks set to go a lot further.

2. The area has easy access from the airport, superb beaches and beautiful national parks and is an area with great scenery,surfing and fishing.

3. Facilities, infrastructure and property are of a very high standard in an area popular with both foreigners and locals, the proof of a boom area.

4. Costa Rica remains the premier destination for US and many foreign buyers.

While in a different country, the large expat community and the great facilities make it a place people feel at home in, despite being in a foreign country.

More gains coming

Now the above area is getting record investment and more people from overseas are coming and this means prices will continue to rise.

Not an area that may take off it has!

Unlike many central American countries it has a track record and the investment coming in reflects the appeal of Costa Rica and the preferred destination of the central pacific coast.

If you want a great area to purchase an overseas property in then Central Pacific cost Costa Rica offers you a solid investment and a great location

More FREE info

On investing in property and land in the area outlined above and suburb beach front plots with great capital appreciation potential then visit: http://www.costaricalandlots.com

Posted in: on at at 4:37 AM 0 comments  

Real estate prices have hit record levels in the United States during the last five years. In some parts of the country, prices have tripled. For those selling houses in the first half of the decade, business was very good, indeed. Rising interest rates and sticker shock have slowed the market down, however. In some parts of the country that used to be hot, sales have slowed to a crawl. In those markets, people who want to sell houses are now waiting months when homes used to sell in days or weeks. What can a homeowner who wishes to sell as quickly as possible do to accelerate the process?

A relatively new service called home staging may be the answer. Staging a home essentially means setting it up so that it makes its best possible presentation to the market. Professional home stagers will, for a fee, come to your house, examine your property, and make recommendations as to what you might do in order to make the house as sale-friendly as possible. In some cases, they will simply recommend a coat of paint, a bit of landscaping, or some new drapes. In other cases, more dramatic help may be needed.

It is often difficult to sell a home that has been vacant for a while. Buyers have a hard time imagining what their belongings might look like in an empty house. A good staging company will have in their inventory a selection of different types of furniture, lamps, decorative accessories and more so that a vacant home can look like a showcase. A fully and tastefully decorated home is much easier to sell than a vacant one.

The service isn?t necessarily inexpensive. Homeowners might expect to pay several hundred dollars for an initial consultation as well as a fee of several times that amount for the first month of a fully furnished, professionally decorated home. Rates for subsequent months tend to be lower than for the initial month, but many homes that have been professionally staged aren?t on the market much longer than a month. In fact, studies have shown that staged homes often sell in half of the time of other comparable properties.

Having your home professionally decorated in order to sell it isn?t something that everyone needs to do. But in markets with slowing real estate sales, staging a home may be the difference between selling the house this week and selling it three months from now. For many sellers, the investment is more than worthwhile.

?Copyright 2006 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.HomeEquityHelp.net, a site devoted to information regarding home equity loans, mortgages and lines of credit.

Posted in: on Saturday, December 27, 2008 at at 11:37 PM 0 comments  

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!

Posted in: on at at 6:37 PM 0 comments  

A real estate contract is for the purchase or sale, exchange, or other trade of real estate between two or more individuals or parties. Real estate, also called leasehold estate, is essentially a rental of real property, and rental contracts cover rentals, since they normally do not result in recordable deeds. Freehold trade of real estate that are generally more permanent, are dealt with by real estate contracts, and they include dealings in the title fees, life estates, remainder estates and freehold property. Real estate contracts are usually bilateral contracts, where terms are agreed upon mutually by both parties and should have the legal prerequisites specified by the contract law in writing.

Any real estate contract must have certain details well written to avoid further misconception and misunderstanding. These details include a proper identification of both parties between whom the exchange of real estate property will take place. A clear description of the both parties is required as well, as their intentions for the deal. A clear description of the real estate property must be made in the contract, including the address of the estate and other details as agreed upon by both parties. The price that the estate is being sold to the buyer and the terms of payment must also be clearly quoted to avoid misinterpretations. The signatures of both parties are mandatory on the contract, but it must be noted that this is voluntary, and no one can be forced to sign a contract.

There has to be a mutual agreement on all terms of the contract by both parties in the contract, which is monitored by the lawyer under whose supervision the contract is made.

Contracts provides detailed information on Contracts, Business Contracts, Legal Contracts, Employment Contracts and more. Contracts is affiliated with Divorce Legal Forms.

Posted in: on at at 1:37 PM 0 comments  

Short sales aren't for everyone, but there's often a significant amount of money to be made when buying a property from a lender before a home has been foreclosed. So even though they can be frustrating experiences, short sales may be worth checking into as one of your real estate investment avenues. Here are a few suggestions for successfully negotiating short sales owners and lenders.

First, if you approach the home owners sympathetically, you'll have a much higher percentage of success. Remember, they're in a financial bind, otherwise they wouldn't be facing foreclosure and the potential destruction of their credit rating, so when you talk with them about putting together a short sale, bear that in mind. You're going to need their help throughout the process, so be as gentle and understanding as possible. After all, once the short sale is completed, their loan will show on their credit report as paid, rather than being a huge negative mark against their credit score. There will be a notation on their report that indicates the home was sold for less than the original loan amount, but it's better than foreclosure.

Also, remember that a short sale is being negotiated while the foreclosure clock is ticking. You have to move relatively quickly if you want the sale to be complete before a sheriff sale or public auction is held. (There are some lenders that will halt the foreclosure process until a short sale has been completed or rejected, but that's not always true, so don't assume the clock will stop ticking just because you're involved in a short sale negotiation.)

You'll generally have to work fairly closely with the home owners to construct a strong hardship letter and to compile all the various things a lender will ask for, such as pay stubs, bank statements, and personal finance information. Lender requirements will vary, but all of them will require a sales contract between you and the homeowners. They'll also want to see a broker's price opinion (BPO) before they decide whether or not to accept your short sale offer.

The earlier you can step into the foreclosure process, the better, because you want to be able to help the home owners to jump through all the various hoops in time to close the short sale before the foreclosure date. Generally, 90 days will be enough time, but there are always variables, and the things lenders can ask for can often be frustrating and time-consuming.

Your goal should be to seek out properties in which the owners have little or no equity. Your chances of completing a short sale will increase if there's not much profit to be made if the lender should decide to go through with the foreclosure process. If there's a wide spread, the lender might do better to foreclose and sell the property as a repossessed home at a price closer to its market value.

Again, they're not for everyone, but short sales can often make a significant profit if you're willing to work closely with stressed homeowners and the sometimes arbitrary demands of lenders.

Copyright ? 2006 Jeanette J. Fisher

Jeanette Fisher teaches beginning real estate investors how to make money in any real estate market fixing and flipping houses.

Free ebooks on flipping houses and podcasts of How to Buy with Nothing Down at http://doghousetodollhouse.com/realestate.htm

Posted in: on at at 8:37 AM 0 comments  

Think you can get ahead faster with a business partner? It is important to remember that approximately 80% of business partnership?s don?t work. The odd?s are very high that any real estate group in which you are involved in may not survive. Cautiously enter into your investment group with watchful eyes. Here are some key factors to consider.

Make sure your goals and objectives are consistent with the rest of the group. Are you committed to working at all hours of the day to get the job done? Well, what about your partner? You know what skills you have. You know your strengths and your weaknesses. If your partners are your friends and relatives, you probably have a clear idea as to what skills they can bring to the table. However, when your joining an investment group of strangers, it?s important to clarify exactly what, if any, skills they will bring to the overall collective objective. Sometimes your investors will simply put their money into the project and not actually participating in any work that needs to be completed.

Consider the liquidity of the investment. How quickly can you get your money out of your Fraser Valley Real Estate investment? You should not invest money you cannot afford to loose. This is the golden rule and it should be applied to real estate in all area?s of the Fraser Valley and Lower Mainland area. For example: Richmond, Surrey, Coquitlam, Burnaby, New West, Langley and Abbotsford. In practical terms, most investments are tied up for the duration of the deal. This issue of course is a critical one. This has a direct correlation with liability of your investment. You want to avoid personal liability for any financial problems that can occur. If you are investing in a corporation that is holding the property for the group and the corporation has taken out a mortgage with a lender, the lender may require personal guarantees from the shareholders of the corporation. That would be YOU!

Consider? When investing with a group is getting out of control, how to get out? Why not a buy out! Make sure there is a procedure to follow before you get into a concrete group investment. Know the buy out terms before the money is put onto the table. Your Fraser Valley Real Estate investment should always be safe and secure. Whether your buying a condo, apartment, townhouse, house or mobile home in British Columbia, remember to cover you assets.

Shane Toews is a Licenced Realtor who helps others to educate themselves on current real estate issues. He also provides assistance on how to locate quality homes, apartments or vacation rentals in Canada's Fraser Valley area. Visit his website RentFraserValley.com for more information on Canada's Fraser Valley Real Estate Market

Posted in: on at at 3:37 AM 0 comments  

Decent and value-for-money property is on top of everyone's priority. May it be out of sheer necessity (in the case of newlyweds) or as an investment or both, a house remains to be one significant and indispensable property. Those who are planning to purchase the proverbial dream house have several options other than buying the first property offered to them. If buyers are not challenged with a strict budget, then they can splurge by having their houses custom-made or by scouting for the house of their fancy in real estate magazines or websites. To be honest, there's no thrill in shopping for a house if the buyers have more than enough money to buy it. Indeed, it is much more exciting to look for a house if there's a certain budget. It's very much like shopping in Saks Fifth Avenue and flea markets. Shopping in flea markets packs much adventure and surprise because you're in for the thrill of buying something of great worth for a dirt-cheap price. The same goes with buying foreclosures property. Scouting for good foreclosures houses or buildings entails patience and endurance, but in the end, it's all worth it.

Experts in the field of home buying advise consumers to explore the possibilities of purchasing foreclosures. This is the general term for properties, which are used as payment assurance for debt or mortgage and given up by the original owners as payment for the lender. It is also possible that the owners failed to pay the mortgage installment set by the lender. The latter may be an individual, bank, or cooperative. After the mortgaged property is foreclosed, the lender often declares that the property's on sale by publishing it on dailies or public newsletters. Buyers should have a nose for some great properties at stake. The beauty of buying foreclosed properties is that it is usually much cheaper than brand new ones or those sold by real estate agents.

Once a potential buyer spots a foreclosures property, he should do his assignment immediately since there's a big chance others are also interested in that same structure (especially if it's cheap and in good condition). The buyer should conduct research and ocular inspection of the structure to personally find out if it needs minor refurbishing or major renovation. It is also wise to check the going rates for real property in the specific area. This gives the buyer an idea if the structure is really sold for a lower price or not. While a foreclosures property may seem like a good buy at first, it should be given a benefit of the doubt. Buyers should do the necessary legwork to ensure he is really purchasing a gem.

For more valuable information on Foreclosures, please visit http://www.miamiforeclosures.com

Posted in: on Friday, December 26, 2008 at at 10:37 PM 0 comments  

In a recent survey by the National Association of Realtors (NAR), owners of second homes revealed a number of interesting facts, to which many Naples, Bonita Springs, and Marco Island property owners can relate.

The NAR found out that over 20% of these homeowners who own for vacation purposes own more than one vacation home. Obviously, personal use was the primary reason for most vacation home buyers (only 25% rent at all), but having a home for retirement was a factor for almost one-in-five of these homeowners. When asked what factors influenced their choice of location, two-thirds wanted to be close to an ocean, lake or river; being near to recreational activities was important to 39% of the respondants (especially the beach, boating, fishing and golf); and 38% desired to be near a resort or vacation area. Almost two-thirds of these owners also thought that their property was a better use of their money than the stock market. This should give you a better understanding of why Southwest Florida real estate is the perfect investment opportunity.

With the euro presently being worth a lot more than the dollar, Southwest Florida real estate continues to be a very attractive investment. And international travelers are coming to the area through Southwest Florida International Airport. According to officials, the number of travelers from other countries passing through the facility has increased over 16% over last year. These statistics are based only on flights directly from Canada and Europe that landed at the airport.

If you are waiting for home prices in Southwest Florida to drop before making your purchase? The wait may not be worth it in the long run, especially if you are financing your purchase. The recent trends in interest rates, and the number of the times the Fed has raised the prime over the past two years has been widely published. And with any inflationary pressures, this trend may continue. By waiting, your financing for any Bonita Springs or Naples real estate cost will most likely increase, and over the long run be more costly than a small decrease in purchase price. Investing in Southwest Florida real estate is an excellent opportunity at the present time, with historically good interest rates and an excellent inventory. Don?t forget we always have the underlying drivers: the weather, the beaches, the activities, and the lifestyle.

And for the first time in history, property values in Collier County exceeded $100 billion, according to preliminary estimates for 2005. These estimates were released by the Collier County Property Appraisers Office, and also showed the county's taxable value to be roughly $77 billion. This is a 25% increase of the tax base over 2004, as well as a potential corresponding increase in county revenue. The difference between property value and the tax base is primarily due to the homestead exemption and Save Our Home, which caps property assessment increases at 3% per year for full time residents on their Bonita Springs or Naples real estate.

We have always believed that Naples and all of Collier County was a great place to live. Now the American Lung Association agrees! In their latest State of the Air report, Collier County got straight As, meaning we have some of the cleanest air in the entire country. This report is based on air quality indicators against outdoor polluntants, including ozone, from the U.S. Environmental Protection Agency. This outstanding air quality makes living, working and playing in Southwest Florida just that much more enjoyable and healthy.

Another nice fact about our area is that there has been job growth in the high-tech industry, and the state of Florida is one of the leaders. With a net increase of 6,700 new jobs, the Sunshine State was the second fastest-growing state in the country, trailing only Virginia. This is more good news for the real estate market, as traditionally job growth leads to increased home sales.

We encourage you to continue to monitor the Southwest Florida real estate trends and when you're ready, to invest in a beautiful piece of paradise here.

Chris and Dick Dovorany
http://www.chrisanddick.com
Coldwell Banker Residential Real Estate, Inc.
4851 Tamiami Trail North, Suite 100
Naples, Florida 34103
Office: 239-293-1969
Fax: 239 263-0352

Posted in: on at at 5:37 PM 0 comments  

A recent poll by the Wall Street Journal showed that an increased number of borrowers are looking to non-traditional mortgages for their lending needs.

Approximately 9% of those polled took out an option ARM this year -- only 4% did last year.

The use of piggyback second mortgages also saw an increase. Twelve percent of those polled said they piggybacked a second mortgage when they took out their first mortgage. Last year, only 10% piggybacked a second mortgage.

However, fewer homeowners took out interest-only mortgages this year, 14%, down from last year's 17%. But when looking at demographics, there was a 50% increase in homeowners between the ages of 18 and 34 who took out an interest-only loan this year, to about 23% of borrowers in the age group.

Financial advisors have long criticized many non-traditional mortgage programs, such as the interest-only ARM, due to the risk that they bring to the borrower. Once the interest rates reset to normal levels from their inital teaser rates many homeowners are left with rate shock and are unable to afford their payments. Many borrowers who use the interest-only mortgages are unable to afford the payments once the principal amount is added to the payments. Those with Option ARMs that allow minimum payments often find they owe more after a year than they did at the time of closing. All of these programs leave borrowers open for default.

Lenders and banking instituations maintain that they simply provide these programs to qualified borrowers. They say they are not responsible for monitoring how a borrower manages their finances.

Non-traditional lending options have been popular during the past five years of strong housing growth. Most economists expect to see a downturn in nontraditonal usage, as well as overall mortgage applications, as the market slows to a normal level of growth.

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!

Posted in: on at at 12:37 PM 0 comments  

Sellers have the responsibility of disclosing any defects in the property to the buyer. The seller should disclose defects which could affect the value of the property as well as the living conditions. The defects may relate to insulation, structure, plumbing, electrical, heating and cooling systems, fixtures, etc. No defect is too small to be kept away from the buyer.

It is understandable that most sellers feel that disclosing defects may result in a lower price, so why should they subject themselves to this? Firstly, because it is unethical and unfair to those buying your home. If this is not a good enough reason, consider the damage you will suffer if the buyer decides to sue you later.

Some states require sellers to fill in a disclosure form which has to be handed over to the buyer. If the seller does not present this form, the buyer can easily withdraw his offer and get a complete refund of his earnest money deposit. Laws have becomes stringent over the years to protect consumers, in this case the buyers. Some items have to be specifically disclosed and vary from state to state. Federal law requires disclosure related to lead content.

Even if there are no strict laws applicable, one is not allowed to mislead the buyer. You may choose to hide a minor defect but leading the buyer to believe something which is false will surely get you into trouble. If you lie about a particular defect and the seller finds out later, you will be required to reimburse for repairs and perhaps suffer litigation.

Get an inspection done if you must but reveal the condition of the property truthfully. If it is possible you should consider fixing some of the major defects. Even if you are selling your home ?as is?, it only means that you are not required to renovate or repair defects. You will still have to disclose the defects to the buyer.

Find out the legal obligations of the seller in your state to fulfill your duties completely. Although it is up to the seller to reveal all defects, it is suggested that one should do it. It will provide the buyer a clearer picture and save you from getting slapped with a lawsuit.

Sadiya Anjum - ChoiceOfHomes.com - Find listings of Homes for Sale online. Home owners may also advertise their home for sale online.

Posted in: on at at 7:37 AM 0 comments  

The Next Real Estate Industry Revolution: A primer on how to become a full service provider to your clients.

After the introduction of the MLS and the advent of Franchising, the Real Estate Industry was changed forever. We are now on the brink of a third revolution, which only a few real estate agents are embracing.

You are and always have been and will be the Trusted Adviser to your clients. They look to you for advice, what to do next in the process of purchasing their new home. You have a huge influence. Until now, there appears to be many reasons for you not to provide full real estate services to your clients; such as mortgage financing or other services. Some of your reasons maybe:

Fear of getting too financially intimate with your client

Don't want to spread yourself too thin, you want to focus on what you know, which is real estate

Lack of knowledge & expertise regarding finance and mortgage

Added expense and time required to start another business

Fear of violating RESPA and may risk the possibility of loosing your license

You were told not to in real estate school or by your very own managing broker (while you knew that he or she was already in the mortgage business)

Most Realtors have been thought in sales school, that to be successful they must stay in control of their client and the sales process. To-day how business is being conducted is rapidly changing with the ever growing Internet Customer. Have you noticed that you are less and less in control. Here are some interesting statistics; "76% of clients looking for a home will use the Internet, before they ever E-mail, telephone or meet with a Realtor". - 'The National Association of Realtors (NAR) recently conducted a survey which determined that over 80% of home buyers would prefer to have their real estate agent help them with their mortgage financing rather than refer them over to someone new and unknown." Consider a New Business Model, where Internet technology and easy to use Point of Sale mortgage loan origination systems, implemented on the Internet, makes the tasks of filling out a 1003 mortgage application a breeze.

Initial loan documents and required disclosures by law are automatically generated and E-mailed to your clients within the three day RESPA rule. Mortgage products and pricing are done automatically from the input you provide by filling out the easy e1003 application in your browser. Then a list of available solutions are given to you to select from by the build in pricing engines.

You can become a virtual owner of a Mortgage Company overnight. Give your clients more of what they want and spend 80% of your time on the 20% of the activities that will expand your business and generate more revenue for you.

Here are a few steps to follow to implement this New Business Model:

Decide to add Mortgage Origination to your or your team's existing core of talents (Whatever your talents are now, you need someone else's talents to complement yours to realize your goals faster.) Benefits: You will stay in control of the loan process. You won't miss any important contractual dates. You will get automated loan status reports. You will stay RESPA compliant. You will make an additional commission by representing your clients on mortgage origination.

Create a Winning Team- by having a highly focused, local team tailored to support your business is your key to success. You can outsource mortgage origination to a local team of a mortgage bank (make sure that they have the track record in the purchase origination business, they have the technology, products, pricing, in-house underwriting and processing support) and still receive a healthy piece of the mortgage loan commission. You can decide how much time and energy you want to spend in the mortgage business. You can have your own dedicated mortgage coordinator and processor. You can direct your client to your loan coordinator to get pre-approved. You can be in conference with your client and your loan coordinator to complete the on-line loan application and follow the process on your computer.

This is a testimonial from a Realtor in Albuquerque, NM, who is taking charge and using this new business model: "When I joined the company, I was looking for a place to put my license that would give me flexibility. I have bought and sold homes for several years, mostly my own properties. Little did I know the real opportunities that this company presented. I can make more money in less time with no investment or liability like I had before. I have recently been a buyer‘s broker with a customer and originated a loan at the same time, with the help of Steve Toth. My customer received excellent service at a single location (his home). I already had most of the info I needed for the loan. The purchase offer was accepted on a Thursday and by Friday we already had a pre-approval on the loan. How easy is that for my customer and me? My customer did not even have to miss work. I have changed my whole focus on Real Estate. Instead of spending days looking for my next project, I spend my time with customers ready to buy or sell and helping others in the business. None of which is none productive time. What a great opportunity for any Real Estate agent!!"-Ron Hensley-Albuquerque, NM

To find out more on Strategic Alliances with Realtors to Offer Mortgage Education and Full Service Real Estate to Consumers and to view our Webcast click here

About the Author:

Mr. Toth has over eight years of residential, commercial and investment banking experience. He started the Real Estate and Mortgage Focus Radio Show in early 2004 on 630KHOW Denver's Talk Station to educate the public about real estate, finance and coaching. He became known as a real estate and finance area expert and someone who networks at a high level within the industry.

In 2006 Steve M Toth, ?The Mortgage Guy?-Radio Show Host on Live365 expanded the ?Real Estate and Mortgage Focus?? Radio Show Program into a national show on Live365- the World?s Largest National Internet Radio Network.

In 2003 he started a coaching practice called Real-Coaching? to provide coaching programs and consulting services that dramatically enhance individual and team performance in the areas of Sales, Motivation, Leadership, Teamwork, Communication and Life Balance Management Skills for Realtors, Investors and Mortgage Professionals.

Posted in: on at at 2:37 AM 0 comments  

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

The median price of a home in Colorado is $166,600. Recently, homes in Colorado have been appreciating at rates well below the national average. In fact, Colorado is ranked 43rd in the nation in home price appreciation. Therefore, affordability is not a huge concern among Colorado residents.

The price of homes in Colorado varies widely between zip codes. For example, in Denver, Colorado, the median price of a home in the summer of 2005 was $350,000; however, in Colorado Springs, Colorado, the median price of a home was $200,000, and in Boulder, Colorado, it was $300,000. Average interest rates in Colorado are below the national average, and job growth rates are above the national average.

Mortgages in Colorado are regulated by federal and state agencies. Currently, Colorado does not have any anti-predatory lending laws. In Colorado, residents pay property taxes, and mobile home owners pay titled manufactured home taxes.

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

Posted in: on Thursday, December 25, 2008 at at 9:37 PM 0 comments  

Investing in real estate can be scary and challenging. There are all kinds of questions - How do you know if and when it is the right time to purchase? What should you purchase? How should you finance it? What type of investment is right for your overall goals and strategy? As a real estate investor in Atlanta, I have found that although there are a lot of questions, the answers are fairly easy when you use common sense, evaluate your strengths, and know what you want.

The first question you should ask yourself is ? why do you want to invest? For some it is to replace their income from a job. For others it is for retirement. Some just like to have a project and make a little money.

We have found that when helping other real estate investors, our first goal is to help them figure out the why and then help them determine the what. For example, if you need money today to replace the income you get from a job, then you need to produce income today through Quick Turning a property.

Quick Turning is purchasing a property at a depressed value, adding value to the property and then selling it at a profit. This is a great strategy and requires knowledge of the market to make sure that you are purchasing it correctly and then also some skill in determining how to maximize the return by strategically adding the value to your investment.

If having money for your future retirement is more what you are looking for ? a Buy & Hold strategy might work best for you. With this type of investment, you are looking for results in the future, so you want to find an investment that you can rent out for more than the mortgage payment so that you have some cash flow. Over time, you will pay down the mortgage and the cash flow will increase giving you greater income in the future.

Both strategies have merit and typically we recommend that every investor have some of both types to round out their real estate portfolio. Once you determine what type of investment you need, then evaluating a property against your overall strategy will help you determine which property is a good purchase for you.

Anne Lackey is a real estate investor in Atlanta and works with The REI Team at Solid Source Realty, Inc. http://www.theREIteam.com. She frequently helps other investors in their pursuit of financial freedom. In addition, she is the President of Solid Source Property Management, Inc. and helps investors manage their investments so that they can focus on acquiring wealth and not on the day to day management. She can be contacted at anne@solidsourcepm.com.

Posted in: on at at 6:07 PM 0 comments  

Or survival of the most dishonest

Real Estate agents are regarded poorly by the general public. To be fair, there are many conditions that impact on a real estate agent. These impacts can either spit them straight out of the industry or have them evolve into sharks. In many cases it becomes survival of the most dishonest.

Now before all the trustworthy hard working real estate agents groan and moan, about another person giving their industry a hard time, please read on. I believe it is the system in many cases that is broken, and it is that system which shapes many a real estate agent into that predatory shark.

Firstly, becoming a real estate agent isn?t difficult. Most states within Australia have a real estate institute where you can complete a course in under a week. (I completed my course by distance learning in one night and I am no mental giant. The before mentioned groaning agents are really agreeing with me now!)

In the US you can complete a course online and be accredited. All it costs is $99 US.

We are talking a very easy entry point to become a real estate agent.

Now that you are a real estate agent ? with your suitable qualifications, you expect people to trust you with their single most expensive asset, typically their home! Sounds a little bit out of whack right from the start doesn?t it?

Now from an external point of view, real estate looks like a pot of gold. Commission rates of between 2.5% to 3.0% to sell a house. A property worth $500,000 represents a commission of approximately $12,500 to $15,000.

?WOW, I should be able to do one of them each week and earn $650,000 per year. Finally an industry that pays me what I am worth.?

And thus the evolutionary cycle begins. You have an easy entry and the prospect of a huge amount of money. Sounds damn perfect. In fact so perfect it attracts a huge amount of willing entrants with that simple view. Most may I say have the full intention of doing real estate far better than what they have experienced when dealing with real estate agents themselves. Ahhh the noblest of intentions.

The problem is, it attracts far too many people.

Now we have a vast amount of agents all vying for that property sale. The industry cannot support all the agents that are working within it. People rush to enter this industry and there simply is not enough property sales or money to go around.

Now we have the 2nd most critical issue in the evolutionary cycle from person with best intentions to shark real estate agent. COMMISSION ONLY.

Most agents are on commission only. This means they only get paid when they make a sale.

Any agent competing against a vast number of agents for any one property sale, if they don?t say the right things, they won?t get the job. Which means they don?t get paid. It means agents learn to say what ever it takes to get that property listed for sale and then whatever it takes to get it sold. It ?s the only way they get paid. It?s survival of the most dishonest, because many times, potential buyers and sellers really don?t want to hear the truth.

Yes, I can hear Jack Nicholson bellow out to all buyers and sellers??You can?t handle the truth?

Typically agents will say the property is worth more to the owners. This way they will have those owners sign up with them. Because most owners like to think their property is worth more. It?s a simple human trait called greed. (Michael Douglas just stepped in and added his line ?Greed is Good?)

But for the real estate agent it?s a simple numbers game. The more properties they have for sale the better the chances they will make a sale and therefore get paid.

Guess what comes next? Agents learn that it is far easier to sell something cheap. Everyone wants to buy a bargain so the agent pursues a process of marketing the property with such clich?s as ?marriage bust up?, ?owner desperate?. ?bank instructs to sell? and ?owner wants all offers?. They are simply aimed at attracting the most buyers with the lure ? BARGAIN BUYING. Now the poor owner at this stage is horrified at this approach, but the agent convinces them it is the way to attract the most interest. They should know - they completed a course within a week!

Conditioning follows, stage 3 in the evolutionary process. The agent will now try to get the owner to accept less for their property. The buyers won?t offer more ? because they are the bargain hunters, so the agent tells the owner with all sincerity ? this is all the market will offer. Cheap is easy to sell. The faster an agent can convince an owner to accept less the faster they get paid. This is largely the whole auction process. Auctions are designed by agents to get paid as fast as possible.

The sad thing about most of this is that the larger franchise groups have corporate training which promotes these processes as the best way to get a result for their clients. Many an agent is brainwashed with corporate training that simply focuses on evolution of the shark.

Now whilst all these activities are occurring, we have the 4th issue in the evolutionary process. VALUE FOR MONEY.

Buyers and sellers assess the agents? activities. Most buyers and sellers will have at least one unhappy experience with a real estate agent to describe. Yet they both know the agent is paid handsomely.

The owner has the added grief of being very aware, that they pay for the advertising, the sign, the internet, the brochure, which will attract the buyer that they then have to pay for again. Yes, that is exactly what occurs. Sounds quite stupid when you say it like that! The agent may throw it around they can organise a better sign or get a cheaper ad etc, but usually the owner is required to pay. They have training for this process as well. It?s called Vendor Paid Advertising.

Lets not even talk about agents suggesting they have better negotiation skills. They do, it has been finely honed by corporate training to get the owner to accept less and pay for all the advertising.

So, with all these processes in mind, the general public are very dubious about the honesty and integrity of any agent they deal with. The agents counter this with expressions such as ?Buyers are Liars? and ?Vendors are Benders?.

And the evolution is finished. You have a shark or you have someone leaving the industry. Survival of the most dishonest, well it would make for a funny reality tv show.

Da dum, Da Dum, Da Dum, I think I hear the agents circling my home right now.

Michael Eroz Property Analyst www.zeroagents.com.au

Posted in: on at at 12:34 PM 0 comments  

For investors, purchasing a commercial property in an exclusive real estate like in Tampa, Florida is not an easy task. Maybe some have experienced ending up wasting their investments in non-profitable commercial real estates. But in order to avoid this, always remember to follow the easy step-by-step procedure when planning and buying a commercial property.

A lot of rich businessmen are wondering how they can get a good deal on leasing rates for their office or industrial establishments specifically in Tampa commercial real estate. Some think that the place has become one of the most expensive locations for office sites. But think again. In reality, the commercial real estate market in Tampa offers the most affordable commercial lots and properties in the US. Owners of Tampa real estate could even demand on high prices on office rents since all the amenities are included in each of the location where the building was developed but they don?t.

Due to the culture options and the diverse recreational facilities in the area, not to mention the beaches and the sun suitable for golf, Tampa, Florida is the best place to relocate business. The economy is continuously expanding and growing with a lot of corporate centers that have also relocated in the area. The quality and rich life is there for every investor who would like to make a good business deal in Tampa. The real estate features with the display of countless of commercial property options makes Tampa the top choice.

Realtors suggest that the commercial market in Tampa real estate is still a competitive selling market. The buildings are stable and will always be for the next few years. That is because Tampa commercial real estate has the low interest rates and an exceptional market for relocation. It continuous to be strong and new constructions will always be a part of the Tampa commercial real estate life.

Researches say that a number of Class A office establishments has increased in Tampa real estate commercial market. Other people could not just believe that everything is going very well. There are many investment firms who are willing to spend a lot of money just analyzing how much longer the strong commercial real estate market in Tampa will continue.

Only one thing is for sure, with all the developments happening and all the people trying to fit in jus to get a piece of the commercial space in Tampa, it is safe to assume that the commercial market is still booming and will never go slow at least in the near future.

For a new business commercial investor or for even an expert investor, commercial real estates in Tampa, Florida can provide the peace of mind. Owning a good and solid investment like the best condo units, retail, industrial buildings, etc., would allow a lifetime of sweet dreams which is as perfect as a vacation for a lifetime. There will be no worries, just sensible investment.

Cleo Capili

http://tampa-realestate.biz

Florida Real Estate Expert Cleo Capili specializes providing assistance to buyers in Florida. She guides families who would like to invest and purchase their dream home in the exciting warm paradise of the Real Estates in Florida. Her skills in negotiating and inventory to make sure that sales and experience bring out the best for each purchase sets her apart from the different common realtors in her location.

Cleo have good background in marketing, business, real estate financing, and advertising to give clients the best options when buying a Florida property. No matter what your needs are, Cleo could share her professional and interpersonal skills for outstanding results on each of your property purchase in Florida.

Posted in: on at at 6:37 AM 0 comments  

The California home market is one of the most expensive in the nation. California is home to twenty of the top twenty-one most expensive areas in which to buy a home. However, with good planning and money management skills, you can afford to own your own home in this exciting and beautiful state.

First, you need to realistically plan out a budget that you can stick to. Make sure to include money for unexpected bills, entertainment costs, and repair costs into your budget. This way, you will be able to avoid getting a mortgage payment that is more than you can afford.

Secondly, shop around, and be open to different neighborhoods. Look into bank foreclosure sales, and if you are skilled at home repairs, don?t be afraid to buy a home that needs a few things fixed. Minor home repairs can save you thousands of dollars at closing time, and if you are able to make the repairs yourself, the savings are even greater. This can help you afford a better mortgage.

Shop around for the best lender for your mortgage. Many times you can find terrific interest rates when you do a little research. Be prepared to buy with a reasonable down payment, and remember that the more money you can put down at closing time, the better interest rate you will end up with in the end.

Finally, don?t rush into a decision. Buying a home is an important decision that will be with you for years to come. Make sure it?s a decision you can live with happily.

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Posted in: on at at 1:47 AM 0 comments