Archive for the 'Real Estate' Category
September 7th, 2010 -- Posted in Real Estate |
If you live on the east coast, in a place like New Jersey and have been transferred by your job to another location in California, you will have a big job ahead of you. Moving from the east coast to the west coast is a tedious job and can become very stressful if you exercise poor planning and organizational skills. With this in mind, know that the move can become much easier of you plan properly and keep all your ducks in a row, so to speak. Prior to beginning your move you will want to make sure that everything is in place with your new location. Make sure that you have successfully secured housing and that all of your utilities are scheduled to be turned on, on whatever date you will be moving in.
In addition, when it comes to the physical aspect of moving, there are some things you will want to concern yourself with. For one, your important papers and documents should never be packed and loaded onto a moving truck, this is a big no! Assuming you have already secured movers New Jersey to California you will want to be sure they are going to be on a precise schedule so that you do not arrive 2 days before your belongings do. In some cases, people opt to fly out ahead of time and meet the movers to be sure everything is unloaded and unpacked properly, before bringing the whole family. This is a great way of being sure the transition is smooth, especially if there are children involved. Children can have a hard time adjusting to a new environment so everything you can do to make it easier on them will help.
August 30th, 2010 -- Posted in Real Estate |
We have all heard and read the stories about how the real estate market is, or will be, slowing to a snails pace. For those who have been involved with real estate for awhile know that this is normal (and cyclical) in the real estate markets across the country, and, is commonly referred to as ‘market normalization’. This is commonplace throughout the industry, and country.. This slowdown is not evident in all markets, in all states and communities however. There is no question that in many parts of the country, many houses are currently remaining on the market a little longer than they were a few weeks and months back. With this, competition for buyers takes a little more work, more ingenuity, patience and good customer service skills.
The following simple steps are just common sense rules to apply if you are planning to sell real estate property soon, either residential or commercial.
SIMPLE STEP # 1
INTERVIEW & HIRE A
‘REAL ESTATE PROFESSIONAL’
If you want to sell your home in the fastest and safest manner, hire a professional real estate broker. Put the solid foundation of his office and reputation solidly behind your listing.
By forming a relationship with a real estate professional, you are tapping into all of the resources available to real estate brokers and agents for both buying and selling real estate. You want to make sure that your home gets the absolute maximum exposure and the best marketing strategy, and, only a professional real estate broker, agent or realtor can do this.
No one knows the local real estate market like the local ‘real estate guy or gal’. They usually live in the area, know the market inside and out, know the schools, employment options, business environment, who’s doing what in the city, planned future developments for the community that will add or subtract ‘real value’ to the property you want to sell or buy.
When you work with a qualified real estate professional, your home will be listed on a MLS database that other real estate professionals can access and use. In addition, you get the benefit of an experienced marketer and negotiator who is familiar with all of the real estate issues in your community.
INTERVIEW THE REAL ESTATE PROFESSIONAL
AND ASK QUESTIONS
When selecting someone to represent you, interview at least 3 real estate professionals who are located in your area, and who are familiar with the real estate markets in your area. Before interviewing or hiring, visit their offices and talk to their staffs. Ask for references and then go visit them. Ask which escrow company and title company they use. Then go visit them and ask questions. This won’t take more that a couple of days and could mean the difference of selling your house period. Or, it could mean thousands of dollars in your pocket, or theirs, or someone else’s.
Be diligent!
When visiting the Real Estate office, bring a well thought out list of questions to ask them. Know in advance what you are going to discuss with them. You can base your questions on the interviews you did with their staffs, the escrow and title companies and any references they might have given to you to check out.
ASK QUESTIONS
- What is their plan on marketing your property?
- What will they do to get the marketing messages to the greatest number of buyers?
- Are they planning open house on certain weekends or? * Who will be showing the property?
- What price should the real estate property be listed for? * What is the margin for negotiation?
- What is the average time their listings have been on the market? (Verification of this can be found with a Comparative Marketing Analysis and will provide the names of 2 or 3 of their most recent sellers who you can then contact for references)
These are just some questions that should be asked. Don’t be afraid to dig into the background of the real estate brokers and agents you are interviewing. Visit their offices and probe around and ask questions of the other agents in the office.
And do find out about escrow (if applicable) and title companies and any other vendor services the broker uses.
Remember, You are the boss!
You are contracting with real estate professionals to market, sell,
and maybe arrange for the finance of your single most valuable investment in life.
SIMPLE STEP #2
IS YOUR PROPERTY PRICED RIGHT?
Interest in your property will be at the highest in the first 30 days or so.
If your property is over priced, potential buyers will not even be touring to look at the property and its hard to get them interested again if you drop the price later. A house priced at just below market value grabs the interest of real estate professionals and of buyers, while overpricing chases them away. Remember that you can always drop your price later on, but the longer a property remains on the market, the fewer the prospects and lookers as well as real estate professional lose interest in it as other and more competitive properties become available.
SIMPLE STEP #3
IS YOUR PROPERTY IN GOOD SHOWING CONDITION
* DOES IT HAVE GOOD ‘CURB APPEAL’
Get the property in Tip Top Shape and keep it that way. You only have one chance for a “good first impression” !
The important thing is to get rid of all trash, all clutter and any unsightly messes. When a potential buyer comes to view the property, it should be neat and clean as much as possible. Yards should be manicured and clean. Clean up the garage areas. Touch up paint or repaint if necessary. Have the carpets cleaned professionally. You should have your property inspected by a certified inspector to be able to answer any and all questions that might arise from a buyer and his possible inspector. Make all necessary repairs.
Don’t overlook the outside areas. The lawn should be trimmed and green. The plants well groomed, blooming and trimmed. Be sure the sidewalks and gutters along the street are clean. Put away bikes, skateboards, etc.
Check the little items; doe’s the mailbox look good? Or, is it rusty and worn out?
SIMPLE STEP #4
OFFER INCENTIVES
Offering an incentive may just be the thing that a potential buyer needs to close the deal. An incentive creates impetus with the right timing. An example of a small incentive is offering a carpet allowance or a painting allowance. This goes a long way if the potential buyer is hung up on a particular problem with the property like the paint color, or worn carpets. You might even pay for the home inspection or home warranty for the buyer if he wants the property.
Depending on your budget, etc., you might offer to help out with some of the closing costs. All of these things create impetus for the buyer to ‘take the worm’.
HANG IN THERE
Don’t be discouraged if there are competing homes for sale in your immediate neighborhood. Making the right moves before the property is put on the market and staying in close contact with the real estate brokers office and getting feedback on potential buyer comments are important so you can continue to be flexible during the marketing of your real estate property. Today’s real estate market is very competitive and will continue to be that way if you are to be successful with your property sale.
August 30th, 2010 -- Posted in Real Estate |
#1 Failing to get the best help (and education)
The first three members of your real estate team are the most critical. Lots of investors lose thousands of dollars because they don’t want to spend a few dollars on a good local mentor. A good mentor who really knows the ropes is not an expense but an asset. A good mentor will save many times their cost by helping avoid expensive errors. Second is a good real estate attorney to keep you in line with the law and you will need a good CPA to help structure your business. Leave out or choose the wrong one for any of these and it could cost you dearly.
#2 Impatience
Many intelligent offers are required in order to purchase one good deal. It takes time and patience to land one of those deals. Be patient because if you ever get in a hurry you are probably going to make the next big mistake…
#3 Paying too much
Anyone can purchase real estate anytime. The MLS is full of properties for sale but your goal should be to buy property at a substantial discount. A big enough discount to ensure that you make a good return on your time, effort and money.
#4 Believing the TV commercials(and quitting your job)
Does listening to those guys on T.V. talk about how easy it is to make a fortune in real estate with no money, no credit and little or no work really get your blood flowing? If it were really that easy–everyone would be quitting their jobs to start investing in real estate. Investing is a great business but to become successful you need money, credit, and or a great deal of hard work mixed with a good education. Cash flow might not be very good at first so keep your day job!
#5 Failing to do the proper research
There is a certain amount of research that every investor must do before placing an offer on a piece of real estate. For example—the true value of the property must be determined in advance and you must know what it will cost to hold and get the property ready to market. It is critical that you know all the important answers before you ever make an offer on any property.
#6 Not continually searching for money
The life blood in real estate investing is money. Investors must have access to a lot of money or all their efforts to find good deals will accomplish very little. It takes three things to start a fire, oxygen, fuel and ignition and it also takes three things to build a glowing real estate business, money, good deals, and energy. Remove any of these elements and your fire will go out.
#7 Not bidding consistently
The fuel of real estate investing is good deals and to get a really good deal you have to make many intelligent offers. In order to grow the business–consistent bidding is absolutely necessary.
#8 Doing your own rehab
Rehabbing a property yourself– is not the best use of your time. Successful investors spend their time finding good deals and not driving nails. Sure–it’s fun to fix up something that was in poor condition. The feeling of accomplishment is great but that feeling can be very expensive. That time could be spent finding other great deals and finding money to make the deals work. If you do the rehab yourself you will probably spend more money getting things just right. It is much cheaper to pay a professional to do the job and keep busy doing your job which is finding good deals.
August 29th, 2010 -- Posted in Real Estate |
Having never gone through the process before, first time home buyers are at greater risk of falling in love too soon with real estate. But whether we’re first time buyers or we’ve done this before – it’s important to remember NOT to fall in love too quickly.
It may be the first house you’ve looked at. It’s perfect. You’re already imagining your new wall colors and figuring out where to place your couch and TV. Your heart is already set on it. This is the one.
Woah! Back up for a minute! That’s dangerous thinking. You never want to jump in too fast.. it could lead to a hasty decision, you may end up paying more than the market value supports, making resale difficult, and down the road buyer’s remorse could set in. All of this just from falling in love too fast.
So what should you do?
You want to be aware of what’s out there. In order to make a wise decision that you won’t regret later, make sure that you look at at least a handful of other properties to compare to the one you really love. How do they compare? Maybe some have features that are actually better. You may find that the one you originally loved is priced quite a bit higher than the others without any discernible reason. You want to make your decision with confidence and not look back later wishing you hadn’t rushed in. Buying a house is a big commitment – so make the right decision!
Besides avoiding buyer’s remorse, you’ll also avoid blinding yourself to the negative aspects and potential problems with the property. When we’re so excited, and our hearts have already jumped into the idea of this being “the one”, it’s very easy not to look at things realistically. How is the foundation? The plumbing? Are there any major issues that you may not see? Are there any minor issues that you may be overlooking? You should have a realistic view of the home you’re interested in, maintenance issues, and any problems that may need your attention and will require money to fix. How does all of this compare to the other properties? Will it be worth it? (If you put an offer on a house, it’s always a good idea to get it inspected.)
If after looking at more properties, you are confident that this is the home for you, than you can look forward to making the offer. This is another area that will need your caution. If you’re already attached to this house, be careful that you don’t make an offer based on how badly you want it – but rather, make sure you’ve studied up on what comparable properties have sold for and only be willing to offer what it’s worth in the current market. This will save you troubles down the road.
When you can finally call the house your home, congratulations! You can feel good knowing you made a wise decision.
August 25th, 2010 -- Posted in Real Estate |
Whether you are buying or selling a property, many people employ the services of a real estate professional. This person’s duty is to offer help, professional expertise and generally make the real estate experience easier for you by guiding you through the process.
What Is The Difference Between An “Agent” and a “Realtor?”
The words ‘real estate agent’ and ‘realtor’ are used interchangeably but there is actually a difference between the two. A real estate agent is salesperson licensed by the state, and given legal permission to represent consumers in the sale of, or purchase of homes on the open real estate market.
A Realtor is a real estate professional who is an active member of the National Association of Realtors (NAR) – a key supporting real estate organization. The NAR offers ongoing education, legal information, contractual updates, information on governmental regulations affecting the real estate industry, etc. Realtors might consist of appraisers, property managers, loan officers, and brokers. Therefore, not all Realtors are real estate agents.
Is One Better Than The Other?
Some Realtors have lots of success in helping consumers, while some Agents struggle to satisfy their clients. At the same time, many Agents can be extremely efficient, while some Realtors can find themselves unsuccessful. Association with any national organization can’t guarantee anything. Some people prefer Realtors because they have a preference due to the national accreditation of NAR. Also, all Realtors must comply with the standard set by NAR, which in part gives the client some additional assurance of ethical conduct.
What Are The Qualities Of A Great Real Estate Professional?
It’s important that you select a qualified agent that you feel comfortable working with. Choose a person who has worked with someone you know, or a person who has a positive reputation within the community. A high quality real estate professional will make your transaction as smooth as possible and be forthcoming and honest about the details. That person will ask you questions, listen to your answers and recognize what you’d like to accomplish. Then will guide you towards obtaining your goal in a strategic, organized and successful way.
August 23rd, 2010 -- Posted in Real Estate |
Over the years there have been several trends in the real estate market.
These can be nationwide trends, or can be focused in one area of the country. And remember, real estate trends are always on the change.
Though when a trend seems to be sticking around for a long time,as a matter of fact trends are meant to change.
There are several things that can cause real estate trends. This can be anything from changes in the economy to rising interest rates and much more. There is no way of saying for certain if real estate trends will come and go. Rather,it is something that you must simply deal with as it comes up. These trends affect everybody involved in this industry. This includes general house owners, buyers and sellers, mortgage companies, real estate agents, and many more.
For this reason, real estate trends are always watched closely. This way, those who are involved know how to deal with these trends and can in turn handle them in the right manner. Following are the three common real estate trends to look for in the upcoming months. 1. Keep an eye on how the internet changes the real estate market in the months to come. The internet has changed several industries over the years, and this is certain to continue to take place with real estate.
2. Agents and brokers are looking for new ways to deal with upcoming generations. This is the trend that is going to change the industry in many ways than one.Simply put, the younger buyers of today are not like they were in the past.
3. Multiple Listing Services are taking a new form, and have seen several changes. Keep this trend in mind and this is something that is going to affect real estate agents in specific. These are just three real estate trends that may rear their head in the upcoming months. There are certain to be several more as well as some that are generalized in nature.
The bottom line is that trends will always be observable in the real estate industry. This is not going to change anytime soon.Hence no matter who you are, getting used to these is very significant.
August 20th, 2010 -- Posted in Apartment, Real Estate |
Apartment reviews are an interesting strategy. However one must consider the source of the reviews. In my opinion, there are basically 3 types of reviewers in the U.S.:
- There are the ones that seem to dominate every review I’ve ever seen on the apartment internet sites and presumably, they are current or past apartment tenants themselves. I have what I think is a pretty good explanation why this hasn’t taken off, so to speak, and why they seem to have little promotional punch totally opposite of reviews in say movies. Movie reviews are going to be subjective to the individual�s opinion as well but at least you get an educated third party critique that has their integrity to uphold.
Some tenants can be great & some unruly. There are a couple of types that need to be addressed, (I) is the tenant that is just plain rowdy, they have parties that cause disturbances, are loud and obnoxious and are only concerned about themselves. There was a certain age that all of us went through and can relate to. (II) Then there is the tenant that is never satisfied. The constant complainer, the tenant that is always calling the office. Both of these can leave nasty reviews if they don�t get their way and of course if they are reprimanded for their unruly actions. Unfortunately, on the apartment review sites, there is no real rebuttal system in place like on EBAY, where the Apartment management can comment on a complaint.
Two of the MOST IMPORTANT things you have to remember that there is always another side to the story and most people will go out of their way to complain but unfortunately will not go out of their way to praise.
- Another type of reviewer is the media critic, and well, the apartment renting business is just not interesting enough to get positive media feedback.
- The final and what I believe would be the most accurate source of information would be to talk with friends of who currently reside or resided at the property in the past.
Ok, so you are back to square one! – You cannot trust tenant reviews, there is no media coverage or third party critics to speak of, and you have no friends or family members who can give you a heads up.
August 18th, 2010 -- Posted in Apartment, Real Estate |
The great number of investors, families, and foreign citizens interesting in real property in Sofia are often faced with many problems related to choosing to live in a big city – inadequate parking space and noise in the city centre, no transport connections and lacking sewerage system in some of the suburban areas. For people willing to avoid these problems and invest in a top quality apartment, Mladost IV residential area is a priority location.
Even though construction in the Mladost area in Sofia did not start until the late 1960s, the area is now a preferred location for apartments and business premises. 105 000 people live there, and the population is among the city’s youngest. Located on over 10% of Sofia’s territory and in close proximity to the Vitosha Mountain, it is a favorite choice for families, investors, and businesses. On the territory of Mladost IV, Sofia Business Park is located – a rapidly developing business centre where some of the biggest international companies represented in Bulgaria are seated, as well as Arena cinema complex, and many restaurants and hypermarkets. All this has easy transport connection to the city centre and the suburbs, and the Sofia metro construction plan will reach Mladost IV in the next few years.
While most of the over 400 existing residential buildings there are of the traditional type, the area is now boasting the development of a new Sofia apartment project, City of Fountains, which will remarkably change its appearance and lifestyle. City of Fountains is developed by the real estate investment company Karrat Group EOOD and is a premium-class elite residential complex to fully suit the needs of investors in this attractive area in Sofia.
The purpose of the project is to bring a fresh perspective to Sofia real estate. It will offer a well-balanced combination of office premises, high-quality residential property and varied retail and leisure activities related to modern lifestyle. Located only 400m away from Business Park Sofia and in the meantime conveniently close to the Vitosha Mountain, City of Fountains is a top quality project targeted at seekers of exclusive Sofia apartments to live or invest in, in what has already become Sofia’s high-end residential quarters.
The top quality Sofia apartment project features excellent construction materials, the development of a recreation park area around the complex, as well as the creation of a unique atmosphere rendered by the only residential complex with fountains in the city. The completed project will feature a great number of amenities, such as a modern spa and fitness centre, a swimming pool, various sports facilities, a kindergarten, an apart-hotel, and a big shopping centre – things regarded as essential by successful people who are looking for property perfectly suited to their way of life and demands.
August 15th, 2010 -- Posted in Real Estate |
The property tax burden for residential property owners has not kept up with the present slide and erosion of market values. Everyday commercial businesses are failing and have little or no assets that make up the tangible personal property taxes and real property tax base. State and local tax collectors have lost revenue due to their inability to collect the property taxes that are due. It could take years to collect the back taxes for these entities, if the tax authorities are even able to collect the taxes. Defunct businesses are closing every day. Many tax jurisdictions have the legal right to seize and confiscate tangible personal property – i.e. machinery, equipment, and fixtures. These items can comprise a large percentage of the tax base. Typically, tangible property is taxed at the same millage rates as real property and goes to pay and provide the same government services that real property taxes.
It should not be surprising that residential homesteads will have to absorb the lost tax revenue. Most tax assessors will be ardent and steadfast in over assessing the homeowner to compensate for the business failures. Business bankruptcies will greatly impact each local and state revenue collection abilities
Home values have dropped over fifty percent in many states. This drop in market value should be reflected in each home owner’s tax assessment and property tax bill. For those home owners who have not lost their home due to mortgage foreclosure, they are faced with a home that is grossly over assessed and being upside down in their mortgage amount compared to market value. In a normal economy foreclosures are considered an exception. Today foreclosures are a norm in many localities and are the only sales transactions that are occurring. Talk to any real estate appraiser to confirm these market conditions. With this being the case, chances are that your local tax assessor is only making minute adjustments to truly compensate for the market conditions.
Property taxes are typically based upon market value and equalization. Paying more than your fair share of property taxes typically defies your states constitutional obligation. Before you pay that tax bill, shouldn’t you check out how it was computed?
August 13th, 2010 -- Posted in Real Estate |
As the popularity of steel buildings increased, designers began to expand on the designs to see how versatile they could be made. With full customization and high quality materials, the steel building industry learned how to replace just about any traditional wooden structure with more durable, less expensive steel construction. A prime example of what can be accomplished is General Steel Buildings.
A recognized industry leader, General Steel Buildings operates worldwide, providing premium materials and low prices. This is topped off with a full fifty-year structural warranty. The integrity of the buildings is assured by the use of high grade solid I-beam supports, 26 gauge steel, and strong bolt connections that match or surpass any local building codes.
Provided within the cost of the steel building is a Project Coordinator to oversee that your building is compatible with the environment and specific needs of whatever region it is to be located in. This includes consideration of the amounts of rain, snow, wind, or seismic activity the building may have to endure.
General Steel Buildings provides structures for every use, from agricultural facilities, commercial workshops, warehouses and retail stores, institutional offices, to manufacturing facilities and factories. Their advanced steel technology permits the safe construction of steel clear-span buildings. For any space that needs a wide interior without vertical support beams such as gymnasiums, aircraft hangers, sports arenas, or church sanctuaries, are well within their capabilities.
Nor do General Steel Buildings tend to look like metal boxes. Incorporated in the architectural designs is the ability to enhance the exterior of the building as well as customize the interior. Facades of brick, stucco, stone, rock, or vinyl are available for whatever you consider the perfect look. Insulation is easy to install within the buildings for long-term savings by being more energy efficient.
With years of experience they can offer same-day quotes on just about any type of building you might need regardless of size, location, or ultimate application. Even their standard prefabricated structures are capable of having various options and enhancements added to them. As well as steel buildings, General Steel Buildings also carries a full line of strong, functional storage buildings from single units to entire storage complexes.
Next »