Real Estate Investment Hyderabad low cost plots flats Secunderabad India

India is poised to be the big Asian tiger alongside China. India scores better since it's a democracy unlike it's communist neighbors, making it much more attractive to the capitalist West. Banks, financial companies, services companies, IT companies are all flocking to India. India has also opened it's door to FMCG's. Almost all major auto companies have set shop in India. An attractive political climate, an English speaking population and an extremely well educated workforce, make India an instant attraction for companies worldwide. This has resulted in more jobs created in the country. People have a greater buying power and are using it as well. Real estate prices in India have been rising more than steadily in the last few years; major cities and IT hubs have seen prices going up in multiples not percentages. Bangalore, Gurgaon, Noida, Panchkula, Pune, Mysore, Mumbai have all seen steep escalations in price. NRI's in the US, UK, Dubai and Australia are investing in real estate in India in a big way. This is another reason for prices going up. Tax cuts on housing loans have made them more attractive to buyers. Banks and financial institutions are going all out to advance housing loans. More so because this is an extremely safe investment. Places like Bangalore now see a lull, since prices have been going up for too long. This is a good time to invest there. Places like Pune are still undervalued. Big Indian companies like Reliance, Birla and the Tata's are all engaged in new projects in India that run in tens and thousands of crores. Mumbai's new SEZ is an attractive real estate destination. Prices in India still compare well to other big cities worldwide. Also an ever growing population means that house prices will never take a hit, since demand always outstrips supply. companies like DLF are buying land in a big way. Hiranandani in Mumbai is another big group that has purchased in a big way in Mumbai. As long as the Indian economic story looks good, and we continue growing 8-10% every year, the real estate boom is here in India, for sometime into the future.

Foreclosure is a comprehensive recovery system What is meant by foreclosure? Literally speaking, a foreclosure is referring to as loss of ownership from a property when a loan is not duly repaid. For one reason the terms and conditions have to be strict. You may ask why? Countering which I may ask that what would happen when I miss my mortgage payments? In this case Foreclosure may occur. By this legal procedure your lender can use to take over your home. In this case you must move out of your house. How can foreclosure be a risky business and how may I avoid it? All I should say on this part is that it is a real time threat for those who are defaulters. If you have not paid off all your dues, taxes or any other sort of debts within given time frame that does necessarily mean that you are on top of the list. The simplest way of avoiding is to keep your self a non-defaulter. How foreclosure does accommodate in real estate? Another scenario of Foreclosure is that given your property is worth less than the total amount you own, your mortgage loan will result in deficiency of judgment which would ultimately result in selling out your property at cheaper prices. So it is better if you are paying off all your dues inside allotted time period to avoid being included in the foreclosure listings. Is there any way out; once being included in the foreclosure listings? Once you are into it, the only way out of such situation is that you should keep all your letters and legal documents those have been signed between you and your landlord to counter any illegitimate claims by the owner. What are the margins and flexibilities of foreclosure? The margins of Foreclosure are beyond buying and selling. The scope at which it is growing is worrisome in one sense of the word and awesome in the very best sense of the word. Since it is being fluently practiced in institutional system where recovering debts and taxes is a big deal, this is the reason why it is not widely appreciated by defaulters. It is like once a bank is in listings; it will then be given a suitable time period to pay off all its dues failing which means government will have all the rights of an ownership of the said bank. The authority of an individual over his home or a group of people over an institution is no more legitimate once the home or the institution is held for listings. Is foreclosure legitimate or an illegitimate business? To answer this, I would say that those who are sincere in dealings would always recommend it over those who don’t believe in fair dealings. The ethical aspect of the said system should never be ignored while criticizing the proposed system.

Not being able to sell your house can be frustrating, annoying, disappointing and a nuisance. Here's some tips to get your house sold. When you put your house on the market you want it sold as soon as possible so that you can get on with your plans. If you are unable to sell your house it can be a financial drain, postpone plans and come to feel like a weight on your shoulders. You need to ask yourself what is going on here? What is the problem? You may need to attack the problem from different angles. Have you had any viewings? If yes, ask the agent for feedback from the clients. Try to get as much information as possible. If you have not had many viewings then why not? Has the agent advertised the property sufficiently, where has it been advertised, how often? Assuming it has been advertised sufficiently what is putting buyers off? The photos makes a big difference - first impressions count. Ideally you want to take a picture of your property on a sunny day with no parked cars or other eyesores. If the original photo looks unappealing take your own and send them to the agent. Perhaps you can get a better angle from your neighbour’s garden which the agent couldn't access. After the photos are at their best does the property look as good as it can from the outside - often before booking a viewing buyers will pass by a property they are interested in to get a feel of it. It needs to look good all the time, not just look good for photos and viewings. Compare the price of your house with similar properties in your area. Is your house priced too high? Is the price putting people off? If you have had viewings but no offers then there’s something putting people off on the inside. Take a fresh look at how you are presenting your property. What is the first impression when you enter? Is the hallway inviting or welcoming or do too many coats on the coat rail and too many bags, shoes and general clutter grab the viewer’s attention? It needs to look tidy, well cared for and loved. After all if you show you don’t love your home why should anyone else? If you have pets does it smell of pets? The atmosphere and smell needs to be fresh and again, the key, it needs to be inviting. You are inviting someone to spend thousands of pounds on this property. You want them to want to stay, not be out of the house as soon as possible. If you have a lot of general “stuff” which you want to keep consider storing it in a friend’s garage or in a paid-for storehouse. Of course you need to live in the house so don’t want to declutter completely but if you are serious about selling your house you need to give it your best shot, or potentially lose thousands of pounds just to get rid of it. Go through each room and look at it from every entrance angle. What do you notice – what’s good, what’s bad. Put in the effort to make it look it’s best. Then, ask your friends, family, and agent for their opinion. What do they like and what don’t they like? Then act on their feedback and ask them again. When it’s in tip-top shape consider relaunching your property with your agent and make sure that all their staff know what a great house it is.

For many years now, investors and those looking to live the dream, have nominated buying roperty in Spain as a favoured profit-making estination. But, in more recent times, the general consensus is that prices are stagnating at best or even falling slightly in some areas. So is buying a property in Spain still an attractive proposition? From our experience, it still can be; but it is now more difficult to generate a good return. Whilst some lower end, especially re-sale, Spanish property is becoming increasingly difficult to sell OR rent, larger more luxurious specification property continues to be in high demand. None more so than Spanish Golf course property. Demand for detached golf property, alongside the palm lined fairways of water filled courses, remains exceptionally strong and we cannot see this changing for the foreseeable future. Indeed, this appears to be the focal point for many Spanish developers as many exciting, high quality Golf Resorts continue to emerge from often barren, yet usually stunning locations. Morning tea to first green in minutes The attraction of buying Golf Property in the Costa Blanca region of Spain comes from the exceptional quality and location of the developments. The ability to almost guarantee your own ‘green belt’, even drive your own golf buggy to the course, is a big draw for those looking to acquire golf property as either an investment or for personal use. Although they are still abundant, the predilection for buying on ‘council estates in the Sun’ is on the decline and the average purchaser of Spanish investment property has now set their sights much higher. And this can only be good for the future of property investment in Spain. Most developers have very much upped their game and it’s not just the quality of golf property we now see coming to market that has increased dramatically. Golf courses are now designed as high-class resorts, complete with health clubs, spas, restaurants and commercial centres; with the emphasis on quality rather than quantity. The results are staggering for both investor and second homebuyer alike, but only if you get in quick – an eighteen-hole golf course only has so many superb properties on its perimeter. That’s not to say the surrounding, second line homes are not fantastic, rather the best plots on these developments really are Hot Property.

Purchasing or selling a real estate is very complex and too risky to invest money. Because of this, it is cleverly to seek for a trustworthy and knowledgeable real estate agent to prevent regrets in the future. There are many reasons why a real estate agent is needed in buying or selling a real estate. If you don’t have any idea of the procedures in buying a real estate, a real estate agent is the person who can help you. License brokers or real estate agents have a thorough knowledge that can help you ensure the legality of papers and real estate procedures. If you’re new to the area, do a simple research of properties in the neighborhood. Try to ask some people living their about the amenities and hints about the community. Finding a knowledgeable real estate agent is the best idea. Real estate sales agents have a vast knowledge regarding real estate market in their area. They know the laws and guidelines regarding real estate matters. They also can recommend what is the best for you and your budget. If you urgently need to buy or sell a real estate, an expert real estate agent can help you. A professional real estate agent has many friends, associate and contacts that can speed up the process if you urgently need to buy and sell a real estate. These will help you save time and effort and can possibly sell you’re real estate property immediately or aid you in finding your target house. If your too busy working or doing something very important and don’t have the time in dealing with real estate transactions, A real estate agent will serve as your personal representative in buying or selling a real estate. Also, if you don’t have the abilities of a sales person, the agent serves as your spoke person to deal with your business clients.

I probably answer this question for investors a couple times every week. The problem is that they don’t have a good formula for determining the most they can pay and still make a profit – so they’re scared to make any offer. Here’s the formula I use for single family homes: The Maximum Offer (MO) is calculated by first determining what the house will be worth after renovation which is referred to as the After Repaired Value (ARV); less the rehab dollars required; less the Buy/Sell/Hold (B/S/H) costs; less profit amount desired MO = ARV – Rehab – B/S/H – Profit Let’s break that down a little further. To determine the ARV, study comparable sales data. Comparable sales are those properties which sold in the last 6 months to 1 year, and within ½ to 1 mile from the subject house. But other factors must be considered as well. The more characteristics between the properties that are similar, the more valid the data. Make sure that the house itself is similar in square footage, bedrooms and baths, age, style, and architecture. Don’t worry about condition except as it will affect the amount of rehab dollars required. Next, look at the neighborhood and the individual street. Do they look the same? Or is the comparable property on a beautiful street while the subject property is on a street riddled with empty littered lots and boarded up houses? The point is to view the potential investment as your end homeowner occupant will. If they could buy your completed investment on the bad street, or a house on the beautiful street – either for $150,000 – which would they choose? The other house of course. Which means your house is not worth the same – it must sell for less to attract a buyer. Rehab dollars differ from renovator to renovator depending whether they do the work themselves, use less expensive sub-contractors, or use an expensive general contractor. The scope of the work should be the same – it is whatever is required to make the investment look like the comparable houses (unless the plan is to sell well under market value). I do not attempt to obtain all of the various contractor bids when I am making offers. All the real deals would be sold before I could ever have an offer together! Instead I have developed ranges of rehab dollars based on the overall condition of the home. Is it an exact science? No, but neither are the bids – there will always be something missed. So why not work with a guide that is probably 90% accurate and allows for quick offers? Buy/Sell/Hold costs include expenses such as appraisals, attorney fees, title search & title insurance, loan origination fees, debt service, utilities, insurance, taxes, real estate commissions, and closing fees paid on behalf of the end buyer. Again, these costs vary depending on each investor’s individual situation. In the Atlanta area, 15% of the ARV seems to be a good average allocation for B/S/H costs. If you are the renovator, calculate your specific B/S/H costs, then utilize that percentage for future offers.

So you want to buy pre-foreclosures? So many investors ask me about this method of finding deals. Here's my 30-second seminar on the topic. If you're going to buy PRE-foreclosures--after the seller is behind on their payments, but before the lender's auction date-then there are some pros and cons to consider. Pros: • There is a good possibility of buying the house subject-to the loan from a very motivated seller who just wants out. • Information on the homeowners in pre-foreclosure is public information, and readily accessible (although this can also be a con – see below) • Foreclosures across the country are at an all time high. Cons: • Depending on your state, you either have so little time before the auction date that it is almost impossible to contact the homeowners, obtain signed contracts, run title, obtain funding, and close – or – the auction is so far away that the homeowners are not even motivated by the threat of foreclosure. The truth is that they can probably live in the house rent free for a year or more. • Most pre-foreclosure homeowners are in denial about their situation and/or angry that their private situation has become public knowledge. • Everyone and their mother contacts these sellers once they hit the pre-foreclosure list. It’s not just investors, but also real estate agents, bankruptcy attorneys, and forbearance consultants. If you want to focus on pre-foreclosures as a method for finding deals, then you want to stand out from the others. You might want to try unusual mailings. Have you ever received an envelope with a pen or something bulky inside? Could you resist opening it? No, you had to se what was inside. There are companies that specialize in these type of inexpensive premiums to place in your direct mail pieces. They even have unusual mailing containers (trash can, coconut, stick of dynamite) that make your advertisement stand out. The trick is to get your marketing piece read, remembered, and acted upon. The other thing to remember is that it takes multiple impressions – so you have to mail numerous times: 5-7 before you’ll even get noticed. Consistency is critical. Don’t give up. Develop your plan for contacting the homeowners on a regular and consistent basis. If there is a long foreclosure process in your state, then you may want to consider one initial mailing when they hit the list, then only one more contact each month until your are closer to the auction date at which time you may step it up to once a week. Remember that most of your competition will stop contacting these homeowners long before the auction. The sellers who wait until the last minute are usually faced with far fewer options – that’s a great time for you to contact them. When you do speak to these homeowners, remember to be sympathetic, but not condescending. Act as a consultant helping them to find a viable alternative to destroying their credit and their future chances at a new mortgage. What they want more than anything is relief and respect. Provide both, and you have a great chance at a deal.

Ok, first of all, lets find out what gazumping is, and how do you make sure that it does not get the best of you? The term gazumping is said to have come from the Yiddish word “gazumph” which means to swindle or overcharge. During the 1920s, it supposedly came in to frequent use in the gangster culture, when people would use the word when making false transactions to con someone in to upping their price. Over time, the meaning has changed slightly, and the word now applies primarily to real estate. Gazumping is when a vendor accepts a higher offer from another buyer after one has already been accepted. If you have never purchased a home before, this may seem very unfair to you, and you may not understand how this happens. When a buyer puts in a bid on a house and the vendor accepts it that is only the beginning (this obviously does not apply at an auction where you get outbid). An agent, which is a go between for the buyer and the vendor is still obligated to tell the vendor of any bids that go in on the property until the close of the sale. So, even when there has been an agreement made, until the contracts are signed, the property is still up for grabs. This is good for the vendor, because they can still accept higher offers. Even if the house has been taken off of the market, until contracts are signed, parties who have previously viewed the property can still put a bid in on the real estate. If this happens, the agent is legally obligated to inform the seller of such activity. This is to protect the seller’s best interest. For the most part, agents do not want there to be another offer. Once an agreement is made, it is in their best interest for the proceedings to happen as quickly as possible. A slightly higher bid will not necessarily mean much more in commission for them, but it will mean a lot more work in deliberations and paperwork. So, many agents will ask sellers to sign an agreement that says that gazumping will not be a problem. As a buyer, it is in your best interest to ensure that your funds do not get tied up in legal proceedings for a property that you may not end up with in the end. Ask your agent about the prospects of gazumping, and whether or not they have a contract with the seller that prevents such activity. This will lead to a less stressful proceeding for all parties involved. Buying a home for the first time can be a scary and exciting process. Obviously, you want it to be more exciting than scary, so cutting out as many surprises as possible is paramount. Once you put in a bid on a property and it is accepted, your money begins to be spent. Inspections, feasibility studies, appraisals and court fees are non-refundable. So, in order to ensure that this money is not being spent in vain, do everything you can to make sure that you understand where your agent stands on gazumping, and be sure to be as up front and honest about your intentions as you expect the other party to be.

We all get so wrapped up into the thrill of real estate investing, once you start buying, selling and cashing those big checks you will know what I’m talking about, that it begins to become all encompassing. We have cell phones and pagers so we don’t miss a call. When the phone rings at our home office we go running like a bat out of hell from the dinner table because this could be the next big deal. We take calls from contractors and suppliers at all hours and especially on Sunday nights. We allow tenants to have us at our beckon call because we fear that if we don’t say “how high” when they say, “jump” they might move out. Before we know it, our lives are consumed with nothing else. We left our jobs so that we could stop working for the “man” and be our own boss. Now we’ve come to realize that we are working for a much worse boss, a tyrant. That tyrant is ourselves. How does this happen? It happens because we don’t effectively plan our businesses. We talked about planning earlier in this report. One of the benefits that you will achieve from planning is, you will be able to create systems and checklists to control your real estate investing business. Once these systems and checklists are in place you will know what needs to be done in any given situation. You will look at the checklist daily to review what has been accomplished and what still needs to be done. You should have checklists for every aspect of your business. Here’s an example of some key checklists: a) Property Evaluation – buying right, market analysis, property analysis . . . b) Property Inspection – estimating repairs, formula worksheets, room x room analysis . . . c) Contractor Management – bid process, contracts and agreements . . . d) Renovation Management – cash flow, required activities, scheduling, contractor management . . . e) Tenant Management – application process, move-in process, leases and contracts . . . These are just a few of the many checklists and systems that you will need to create and use on a day-to-day basis so that you are running your business and your business is not running you. One of the benefits of systems and checklists is that, as you grow your business and hire people to work for you, you will train them by teaching them how to use the checklists and systems. You will train them to complete the tasks associated with each system and checklist. You will supervise them by revising the systems and checklists that they are working on. This is the fastest way to grow your business. To get help on systemizing your business, read Michael Gerber’s, The E-Myth. It’s a great book that will teach you how to look at your business in its proper perspective. If you don’t want to create all of those systems and checklists yourself, find someone who already has a successful real estate investing business and find out what they are using. The sooner you systemize, the sooner you will be free to make choices based on what you want to do, instead of what your business needs you to do.

Against the opinion of Lee Dixon, Lambourne’s business partner and a former Arsenal defender that “some people would perhaps rather have a doctor for a neighbour” there are a many advantages to have a famous football player moving to your area. A research from a buying agency specialised in finding homes for sports celebrities revealed that towns and villages in which footballers have bought properties have had bigger price increases than in similar areas. There are many examples that can sustain this opinion. John Terry, the Chelsea captain owns a home near the club’s training ground in Cobham, Surrey. Since he moved there in 2004 the price of a detached property in the area has risen by 28 per cent. An even more impressive change in the value of the properties in the area they moved was given by David and Victoria Beckham. Since they became residents of Sawbridgeworth in Hertfordshire in 1999 property values have risen by 84 per cent. Five years ago, the Arsenal defender Sol Campbell bought his home in Berkhamsted, Hertfordshire. Since that moment prices have gone up by nearly a third. The prices in the area where Cristiano Ronaldo, Manchester United’s young Portuguese winger, owns a flat have been growing too. Actually not only Alderley Road in Wilmslow, where Ronaldo’s property can be found is more valuable but the entire Cheshire, which is close to Manchester United, Manchester City, Liverpool, Everton and Blackburn, particularly in “Gold Trafford”, the triangle that runs from Wilmslow to Alderley Edge and Hale. An explanation for the rising prices of the properties in the areas where footballers are buying comes from Jeremy Lambourne, director of Oakhall, the same agency that came out with this finding. Lambourne says that “football players will very often improve an area because they spend money on their homes and bring in investment,” Not far from this opinion is Stuart Flint, who covers the smartest parts of Cheshire for Knight Frank who believes that “footballers are well advised these days and they understand the importance of maintaining their properties”. But are any disadvantages in having a football celebrity as your neighbour? The same residents that benefited from the increased prices of their properties in Cobham, Surrey had to face the congestion created by the cars parked along the narrow roadside when John Terry held a party for his team-mates at his home. David and Victoria Beckham’s neighbours have had to suffer an invasion of paparazzi and fans since these celebrities became their neighbours. But generally footballers are not worse neighbours than ordinary people. Another interesting finding about the properties where footballers chose to invest is revealed by by Country Life. Their survey’s results suggest that rather than always going for Dallas-style new-builds, footballers are increasingly buying country houses. The same magazine reveals that 20 prime country homes costing more than £2 million each have been snapped up by premiership footballers over the past three years. As Mark Hedges, editor of Country Life, says: “Like most people who buy these properties, footballers — despite what you may see on TV — are looking for somewhere with character that also has peace and quiet.”

The comparable sales in a one-mile area around the property will be the ones you want to be looking at. This is a general rule. There are many areas where you have do comparable sales block-by-block, or street-by-street. A comparable sale would be a similar property that has sold in the last six months compared to the one you are buying. For example, if you were going to buy a 1000 square foot, 3 bedroom house, brick, with attached 2 car garage, and full basement, you would want to look for similar properties in that one mile radius or closer, in some cases. If you are looking at a house that differs in size, square footage, bedrooms you will need to make adjustment in pricing to have a comparable to the target property. For example if the target property has a 3 bedroom house with basement, and you are using a comparable 3 bedroom house with no basement, you might have put a downward adjustment factor of $10,000 to compensate for the missing basement in order to get a real value of the comparable sale. You need to look at the amount of time the house was on the market (the number of days it took to sell the house). You don’t want to be basing your buy on a house that was on the market for long periods of time. If you use comparable sales that all took 10 months to sell and you are looking to buy the house, fix it up and sell it in 3 months, you sure don’t want to use these houses as “comps” that took 10 months to sell. So we now know how to determine what the house we are looking at would sell for. I am going to suggest that if you are getting into this business to be a landlord that you treat your rental business as if it were the business of finding, fixing, and reselling. I say this because most landlords will be selling at some point in time. So don’t just look at buying houses based on cash flow, or tax benefits. You need to look at it from the point of view that if you were to get sick tomorrow could you resell the property at a profit. Let’s talk about profit, after all this is a business and that is what you are after. So what is the profit you want to make in this business? That’s right; profit is where you want to start! Let’s assume that I am looking at houses that sell in 3-month period for $60,000. Let’s say we are looking at a house that needs a new kitchen, paint and carpet. If all those repairs were done, the house would sell most likely for $60,000.00 in three months based on comparable sales. So another way to say this would be that the after repair value of the home would be $60,000.00. Some nonconforming lenders and HUD 203-k mortgages use what is called a “subject to appraisal” (which is another way of saying the after repair market price). So we have a minimum profit goal for this $60,000.00 after market value home of $12,000.00. So we now build the model to determine what the maximum $ we want to pay for the house we found are. You now have to start adding in your cost? The costs you need to add up are as follows:

You are looking for sellers whose #1 objective is to sell their property. You are looking for motivated sellers (A DON’T WANTER). If you are dealing with any one else, you are going down the wrong road. It would be a good to get a real estate license. Even when you are dealing with someone who is not a motivated seller and who’s #1 objective is not to get rid of the property, a real estate license can earn you money by listing the property for the person, or referring them to someone else that would be better as a listing real estate agent for the property. When I call on someone who wants to sell their property, I have found they know the value and their options. We review what the after repaired value is with them and what we would offer. We also advise them as to their options regarding getting pre-qualified by a mortgage company, or any other options that might be the best solution for them. If they are motivated sellers whose #1 objective is to get rid of the property, then they will look to work out a sale with you. I feel it is important to let them know all their options such as to list property, take investor offer, or refinance property. If you present to them what is you see as their possible solutions it will make a difference for them regarding saving the property through refinance, or you might get the listing or referral fee from another realtor that gets the property sold for the owner. The bottom line is you served them and in doing that, you get taken care of also. Some examples of motivated sellers are: a. Divorce—The couple has separated. They now have doubled their individual overhead. They have two house payments now. The home they shared required two incomes. The marital house is headed for foreclosure b. Probated estates- the attorney in charge will want to liquidate the estate as quickly as possible c. Tired landlords—people who jump into this business and can't handle property management. d. Loss of job e. Move out of state- double house payments f. Partnership split The business of finding motivated sellers is good one. g. Foreclosures h. Tax Forecloures In this business, key is to stay focused on making sure you have motivated seller. Said anyother way is that the person #1 objective is to get rid of their property. Good hunting for Motivated sellers!

1. What makes you different? Why should I list my home with you? It’s a much tougher real estate market than it was a decade ago. What unique marketing plans and programs does this agent have in place to make sure that your home stands out favorably versus other competing homes? What things does this agent offer you that others don’t to help you sell your home in the least amount of time with the least amount of hassle and for the most amount of money? 2. What is your company’s track record and reputation in the market place? It may seem like everywhere you look, real estate agents are boasting about being #1 for this or that, or quoting you the number of homes they’ve sold. If you’re like many homeowners, you’ve probably become immune to much of this information. After all, you ask, "Why should I care about how many homes one agent sold over another. The only thing I care about is whether they can sell my home quickly for the most amount of money." Well, because you want your home sold fast and for top dollar, you should be asking the agents you interview how many homes they have sold. I’m sure you will agree that success in real estate is selling homes. If one agent is selling a lot of homes while another is selling only a handful, ask yourself why this might be? What things are these two agents doing differently? You may be surprised to know that many agents sell fewer than 10 homes a year. This volume makes it difficult for them to do full impact marketing on your home, because they can’t raise the money it takes to afford the advertising and special programs to give your home a high profile. Also, at this low level, they probably can’t afford to hire an assistant, which means that they’re running around trying to do all the components of the job themselves, which means service may suffer. 3. What are your marketing plans for my home? How much money does this agent spend in advertising the homes s/he lists versus the other agents you are interviewing? In what media (newspaper, magazine, TV etc.) does this agent advertise? What does s/he know about the effectiveness of one medium over the other? 4. What has your company sold in my area? Agents should bring you a complete listing of both their own, and other comparable sales in your area. 5. Does your Broker control your advertising or do you? If your agent is not in control of their own advertising, then your home will be competing for advertising space not only with this agent’s other listings, but also with the listings of every other agent in the brokerage. 6. On average, when your listings sell, how close is the selling price to the asking price? This information is available from the Real Estate Board. Is this agent’s performance higher or lower than the board average? Their performance on this measurement will help you predict how high a price you will get for the sale of your home. 7. On average, how long does it take for your listings to sell? This information is also available from the Real Estate Board. Does this agent tend to sell faster or slower than the board average? Their performance on this measurement will help you predict how long your home will be on the market before it sells.

Did you know that Spain is the largest country in Europe after France but with just over 40,400,000 people, it is one the least densely populated! Did you know that over 1.2 million foreigners have chosen to settle and buy properties in Spain, which attracts more than 52 million visitors each year! Did you know that 640,000 new homes were built in 2004, a higher number than Germany, France and Italy combined. Predictions show that another 2 million homes will have to be built over the next 6 years to meet the demand for Spanish property! It is not simply Flamenco or Bull Fighting or the San Fermin Festival or lots and lots of bright sunshine that is attracting more and more tourists and tempting people to settle in Spain from around the world. Even if we ignore that Spain, for last thousand years or so, is the cultural center of the Europe, she has much more to offer to the world’s citizens, many of whom are looking for Spanish villas for sale. The local Spanish developers had something different in their mind, the majority of the apartments or properties are bought for the good financial returns a buoyant market returns. There are around 2,750,0000 empty flats around the country and most of them are not even for rent. Owing to this problem, a good number of Spaniards are not finding homes to live in though construction is one of largest employment sector there. Never the less, the situation is changing. The government is trying to fix this problem by clamping down on planning permissions, although these measures for reform only started recently this will serve to build a financially secured Spain in future. Currently those who invested in the past have largely disappeared and the houses and flats are now being owned by overseas clients and Spaniards who are buying them as relocation properties or holiday homes. In any case the situation for foreign buyers is as lucrative as it is precarious. The Spanish property business, like any other business in any corner of the world, has attracted a number of middlemen, who, unfortunately, are as always eager make a fast ‘buck’ with prospective buyers. Experience has shown that when a person is trying to buy some property from a broker he or she runs the risk of overpaying and even fake buying. It is not always possible for an outsider to know the full history of these agents and we should not forget the old saying ‘seeing is believing’. The Spanish property market changes frequently, before buying property in Spain a cautious buyer should primarily try to gather all relevant information regarding the property and the-then market scenario. A good place for research is always the internet where there are plenty of good helpful sites on buying property in Spain.

When it comes to property, first impressions count, so make sure yours is looking its absolute best. Making the most of your home doesn't have to cost a fortune, and a few inexpensive improvements can make all the difference. Put yourself in the shoes of a potential buyer and, starting from the pavement outside, take a complete tour of the property. Work out a plan of action, and if necessary, draft in a friend or an objective other for a second opinion - you'll be amazed at the cracks and crevices, often that have gone unnoticed for years, that suddenly come to light. Once you’ve made a list of what needs to be done, work out a budget and priorities accordingly. There's no point throwing money at making unnecessary changes at this stage, so keep things in perspective. If your landscaping isn’t that great, spend the money on new plants to make it look appealing. The buyer has to see themselves living in the property, so make it a paradise. Kerb appeal is essential because many prospective buyers may only drive by your home. Getting them back a second time will depend on their first impression, so make sure the outside is looking its absolute best; keep refuse bins out of sight, and, if it needs it, give the front door a fresh coat of paint. Clean up any paint issues on the interior of the property including behind doors, in closets and so on. This may sound odd, but buyers will look in every little cranny. You're effectively in competition with other homes in the area, so it pays to find out from your local estate agent what will make yours shine – a new worktop in the kitchen might be all that it takes. Make your home as warm and inviting as possible, because more than most major purchases, people buy homes according to their emotions. That process begins by making your home feel homey without feeling cluttered. Doing up a house for sale is all about marketing a lifestyle so always keep your buyer in mind when making any changes. Once the property is clean and looks ready to sell (remember, you are trying to impress potential buyers!), create a listing. Getting a free listing on this site will expose your property to hundreds of thousands of buyers including people considering moving into your area. Most sellers fail to recognize that one of the largest pools of buyers are people relocating from one part of the country to another. This is where Realtor MLS listings fail miserably. They simply do not expose your home to the correct market, making the sale of the property a long process.Many homebuyers use the Internet to find a home.Because when listing your home for sale, you'll be able to provide a bevy of information to potential buyers. Essentially, you'll get to provide everything you would in a typical MLS listing such as bedrooms, bathrooms, garages, appliances, price, square footage, contact information and so on. There is, however, one major advantage to listing on an online real estate site compared to regular MLS listings – photographs.

One of the things that distresses me about our industry is the amount of wrong or incomplete information available to investors. Some myths block what otherwise would be a great deal, while others would have you believe that a bad deal is actually great. For example, we encourage purchasing homes “subject-to” the existing mortgage as an option to finance the purchase of an investment property. This means that title to the property is transferred to the purchaser, but the loan remains in the original borrower’s name with payments made by the purchaser. Unfortunately, many myths exist around this method which could rob you of your profits. Let’s take this opportunity to dispel 5 of the most common. Myth #1: Buying A House “Subject-To” The Existing Mortgage Is Illegal. Absolutely not true! Some states are attempting to pass legislation to regulate “subject-to purchases because of unscrupulous investors. Check with your local attorney to determine the status in your state because most still have no laws passed. This myth has been around a lot longer than these new laws in a few states. The reason is that most mortgages have a “due-on-sale” clause which states that if the house is sold without paying off the mortgage, the lender has the “right” to call the entire loan due. The key here is that they have a “right” – not an “obligation”. In other words, it’s their choice. Before doing my first “subject-to” deal I asked several attorneys in town who represent lenders to see if they had ever heard of a bank call a loan due because of a sale. In every instance they said: not as long as the payments were made timely. Why? Because banks are in the money business – not in the real estate business. If they call the loan due, and it goes into foreclosure, they have a poor performing loan on the books (for which they have to increase their reserves), they incur additional costs, and they inherit a property. Their other choice is to just continue to accept timely payments from the new owner. Which makes more sense? Note: This is only true when the mortgage holder is a bank. If the mortgage holder is a private individual, they may in fact prefer to have the house rather than timely payments. Myth #2: Buying “Subject-To” Is Complicated And Requires A Ton Of Paperwork. The truth is that all you have to do is write it into the Purchase and Sales Agreement (PSA). I write it in right next to the Purchase Price. Here’s an example using my PSA: Total Purchase Price to be paid by Buyer is $80,000.00, payable as follows: “subject-to” existing first mortgage with Acme Finance with a balance of approximately $77,500, and monthly PITI payments of $695; remainder of Sellers equity to be paid in cash at closing. That’s it. You and the Seller have now agreed that you’ll purchase the home subject-to their mortgage. As a precaution, I have the Seller sign a disclosure that they know and understand that the loan has a due-on-sale clause which the lending institution can invoke since the property is being sold. It also discloses that I make no promise as to when the loan will be paid in full, or how long it will remain in their name. I also prepare a letter from the borrower informing the bank that all future correspondence should be forwarded to me, and that I have the right to act for the Seller in every way regarding the loan so they’ll disclose loan information to me in the future.

Everyone wants a quick sale on their house. Here are our top tips to help you choose the right estate agent and be on your way. 1. Ask a number of estate agents to view your house and do not immediately take the estate agent who gives you the highest valuation. They may simply be doing this to secure your custom. If no buyers make an offer you will need to lower your price and be stuck on the market for longer. 2. Ask what exposure the estate agent has. You must have your property advertised widely on the internet and not just their own website. Ideally your property also needs to be advertised on a national property site as well. 3. Negotiate on their commission percentage. Even 0.25% discount can mount to hundreds if not thousands of pounds. Estate agents want your business and you lose nothing by haggling. 4. Are you allowed to take your own photos for the brochure? First impressions on house details matter. If you are not happy with the estate agent's photo ask if you can take your own. This should not be a problem especially if you have a digital camera and can email them your photo. 5. Does the estate agent like your property? A good salesman needs to believe in what they are selling and their positive speak can persuade a buyer in your favour. Can they suggest ways of making your property more marketable? 6. Call the estate agent pretending to be a buyer. Are they helpful? Do they send you the details you request? Did they make a positive impression on you? If not, then be wary of using them. 7. Does the estate agent accompany viewers on visits or do you need to show people around. When viewers look at houses it is preferable that an estate agent shows them around. Viewers are then more freely to speak their mind and the estate agent is a practised salesman. Homeowners are not and can sometimes talk too much and even talk down their house. Remember you are not selling your property to make friends with your estate agent. It is of course beneficial to have a good working relationship with your estate agent but be sure that they are working for you and that they work to earn their commission.

If you are interested in buying Maryland real estate, you might want to consider your finances and seek counsel from financial advisers. Though the state is a great place to settle in with a bustling business district and good life standards, there are certain issues about Maryland real estate that you must know. The issues are not as bad as property fraud, but they could wreck havoc in your finances. But if you have high income and can afford a high-priced property, then, you are most welcome in Maryland. Maryland real estate prices are continuously rising prompting realty analysts to conclude that housing will be less affordable to Maryland families and others planning to settle in the state. Maryland Association of Realtors surveyed state residents and reviewed the current housing trends in Maryland. The association found that the cost of purchasing a home and its maintenance are further complicated by unmet strong housing demands and supply shortage across the state. Alan Ingraham, the association's top realtor assessed that the current issues will affect real estate for the succeeding 15 years. Deborah Ford, a professor of economics from Maryland, affirms statements by Ingraham that Maryland real estate has not yet reached its most affordable price. She even asserts housing prices are not likely to go down in the near future due to the law of supply and demand. According to Ford, the demands for housing are not met by developing new properties so there is a housing scarcity. The law of supply and demand understandably functions like this -- higher demands with lower supplies merit higher prices. So unless Maryland developers and builders start building and developing new properties, it is unlikely that the cost of Maryland housing will decrease. The study by the realtors' organization also points out other factors in the rise of housing costs. It is likely that housing affordability in Maryland will be an impossibility if the following are not taken care of: population growth, high interest rates, continued house-value appreciation, slow income growth, and added real estate taxes. Rising costs of energy are also starting to factor in housing costs. Ingraham states that the problem of Maryland real estate is not an isolated case; other states are suffering the same thing. However, statistics show that entry-level home buyers suffered from a four-fold price increase which began in 2003. The future does not bode well with Maryland real estate as employment rate is only expected to increase by 8% while salary increase is only pegged at 1.9% over a period of five years. Significant population growth is expected within the next 15 years. The property market in Maryland will continue to suffer because of no-growth policies; this means that no new properties are to be built. If you feel that you can handle the pressure and you're up for high-risk investment, Maryland real estate is a good opportunity to exploit the real property market.

The answer in one word is: UGLY. You need to have a motivated seller (DON’T WANTER) and property that is ugly. Great buys in real estate are in rough condition. I can count the nice properties on one hand that I got great buys in over the years. I am talking about thousands of properties. So if you have not guessed it yet, if you get in this business you are going to need to be in the rehabilitation of property business. What do I mean by ugly: a. Weeds two feet high in the yard b. Gutters hanging down from the house c. Holes in the roof are good d. Maintenance neglected e. Out dated kitchens, shag carpet, unpainted walls for 10-20 years Some of examples of a great buy: a. “Keep cool indoor pool”. I bought a house in Pontiac once such that when you walked in the front door, the paint was pealing from the walls. The house was full of moisture. When you got to the top of stairs to basement, you ran into crystal clear water. The water was to the top step. Someone had stopped up the floor drains and broken a water pipe. Water was running out of the basement windows. I had no competition on buying this house. We called the water department and had the water turned off at the street. We had the house dried out and got a great buy. The point is that there was little competition to buy this home. They could not see past the water coming out of basement windows. This was a foreclosed property and the bank was a motivated seller. b. “A little smell” I purchased a house where the owner had a dump truck load of sand poured into the basement. The sand was for a permanent litter box for her 25 cats. I had to take my clothes off in the garage when I got home. Again, I had no competition on the buy. The rehab on this house was labor intense. c. “Moving walls” In this house, you opened the door and roaches fall on you or better said, “the walls move”. Again, the competition fell away- this required an exterminator and all was well. d. Also look for backed up sewers, fleas, houses full of trash, as things to look for when looking for a great buys. This business requires hard work but the rewards can be great. The majority of properties that people donate to charities meet the above conditions. There are great buys in real estate but it requires investors with a talent to restore the homes to a classic condition. Restoring homes, and putting them back in great shape, is for me, part of a process of fulfilling the American dream for homeowners and is what I love most about this business. The investors who look and see fully restored homes instead of the above are ones that get the great buys on homes they otherwise couldn’t afford. If you are new investor, I recommend you focus on the lighter rehabs, paint and carpet changes for example. Some of the examples above were light rehabs they just had obstacles that others could not see past.

Where do you find contractor? Ask for referrals from other investors. You can also go to Home Depot early in the morning where the contractors check out. Talk to the clerks about who are the regulars and talk to the contractors in line. Check out their work start to finish and their references. Home Depot is a great place to find a reasonable crew that works for builders. Does the contractor need insurance? You need to make sure you or your contractor has two types of insurance. The Two Types Are: A. Workman’s Compensation Insurance: If you are doing a lot of rehabs, you will want to get a minimum workman’s compensation insurance. If your contractor has workman’s compensation insurance, you will want him to give you a copy of his insurance with you shown as an additional named insured. You then have proof of coverage. Even if you have a minimum policy covering you, you will still need the proof of coverage for your insurance carrier or you will be charged for their cost on your own policy. If you hire a contractor working by himself he can choose to exempt himself from workers compensation, but he needs to sign a form that you get from your insurance company. B. Liability Insurance: Make sure again that you’re named as additional insured on your contractor’s policy or have your own policy. You should talk to insurance experts to determine the amount of coverage you need. C. Builder’s Risk Insurance: You may want to check on getting builders risk insurance for other coverage on your equipment, tools, and etc. How do you pay your contractor? If you are dealing with new contractors that you don’t have a track record on, I recommend that you buy a small amount of materials and see that they get the materials to the job. Only pay for the work that gets done. The question you need to ask yourself is if the contractor walks from the job is there enough money to hire someone to finish the job. Even experienced investors, as well as new investors make the mistake of paying out too much on the job all the time. I have had Home Depot call me and tell me that my contractor is bringing materials back for cash refund. I have had great contractors who I have had a long relationship with me walk off the job. It is a must to hold back enough dollars to hire someone to finish the job. I don’t care how long you have worked with contractors you have to inspect the job before paying. If you don’t inspect the work, don’t get in the business. Consider placing a provision in your contract that final payment is contingent on passing a city certification inspection. Should you have a contract with your rehab crew? I say yes. At the end of this article is a sample contract. See your attorney for what you need in your contract. Should you pull permits? Yes, Yes, Yes!!! The people I see who try to bypass the system and city inspectors just end up in trouble and end up doubling their cost. The short cut to getting the job done is to pay for the permits required.

After watching home values soar during the past few years it looks as if real estate reality is finally about to set in. The home-pricing forecast for 2006 is mild and modest with higher prices projected for the year but not the double-digit increases seen in 2005. Then again, the forecast for 2005 was also mild and modest and it turned out to be wildly understated. According to the National Association of Realtors existing home prices were expected to increase 5.3 percent in 2005. Now, however, NAR predicts that 2005 existing home prices will increase 12.7. If the most-recent NAR estimate is true, it would be the largest one-year price increase since 1979. As to 2006, NAR says existing home prices should grow 6.1 percent. In the context of what we know about existing home prices, a yearly increase of 6.1 percent hardly seems impressive -- NAR records dating back to 1968 show that cash prices have increased an average of 6.4 percent annually. Also, it''s important to say that real estate is a localized commodity -- what happens in a particular area may be radically different than what happens nationwide. It''s entirely possible that neighborhood prices may rise while national averages fall -- and vice versa. The result of NAR''s moderate forecast and the visible slow-down in price appreciation nationwide plainly raises two issues: First, is the "bubble" over? Second, what''s the next step for prudent buyers, owners and borrowers? Let''s start by saying that there has not been a "bubble," a term which suggests unwarranted appreciation. Instead, what we have seen is an unusual combination of circumstances which together have made real estate the investment option of the moment. In the past few years we have had interest rates at historically low levels. For much of 2003 to 2005 you could finance or refinance at 6 percent or less. As interest rates get lower demand increases because more people can compete for homes and bid up prices. In many metro areas new home construction is delayed, complicated and made more costly by restrictive zoning regulations and a declining supply of close-in buildable land. The result? Higher prices for those properties that are available. Between 2000 and December 2005 the population increased from 282.2 million people to 297.9 million -- that''s an additional 15.7 million individuals who need housing. Again, more demand pushes up prices. In most areas -- but not all -- real estate has been a good place to invest, especially when one considers the alternatives. For instance, on January 14, 2000 the Dow Jones Industrial Average reached 11,722.98. By December 14th of this year -- nearly six years later -- the average was more than 800 points lower at 10,883.51. In contrast, typical existing home prices went from $139,000 in 2000 to $218,000 in October 2005 according to NAR. Home prices have gone up in part for the simple reason that houses have gotten bigger. The National Association of Home Builders reports that in 1987 a typical house had 1,755 sq. ft. By 2004 the typical house had 2,140 sq. ft. More size produces a higher cost per unit. What we're seeing today is that some of the factors which have pushed up prices in the past few years are moderating.

Over the last 20 years there have been significant changes in the choices people are making in whether they wish to rent or own their house, flat or apartment. In the early 1980's West European countries averaged between 50% and 60% of homes owner occupied as opposed to rented. However as years progress into the early 2000s there have been some very significant changes with most countries seeing a significant reduction in the number of properties rented. Some of the most significant changes in the percentage of properties rented in Western Europe are: From 1980/81 to 2001/02 UK from 42% to 30%; Luxembourg from 39% to 26%; Netherlands from 58% to 46%; Spain from 21% to 11%. One possibility for this trend is the increasing standards of living combined with market changes improving the choice and availability of financial products to purchase properties. However also to be considered is the very significant differences when comparisons are made across countries. Below is a summary of the most recent data found on the percentage of homes rented for each country. Austria 40%; Belgium 31%; Denmark 51%; Finland 32%; France 40%; Germany (ex FRG) 55%; Germany (ex DDR) 66%; Greece 20%; Ireland 16%; Italy 25%; Luxembourg 26%; Netherlands 46%; Portugal 21%; Spain 11% Sweden 39%; United Kingdom 30%. One possible conjecture is that countries with a higher percentage of properties in the rental sector may have higher workforce mobility. This would suggest that Germany may have significantly higher workforce mobility than other West European countries. In contrast Spain may have relatively low workforce mobility. The data available on property to rent across Western Europe raises many more questions than it answers however one factor that is very evident is the definite trend for a shift from rental to owner occupied homes. For landlords and real estate letting agents who have properties to rent this may also suggest that competition will increase to find tenants. However there are other factors to consider such as the type of rental property. For example the UK rental sector can be split into three main categories, these are Council (e.g. Government owned), Housing Associations (often charitable trusts) and Private (e.g. private landlords and investors). In 2003 the Private sector accounted for 35% of rental properties in the UK, and this percentage was increasing as more people invest in private rental property. Overall it is difficult to draw precise conclusions however taking the UK example there are some specific factors, firstly overall rental stock has reduced significantly from the 1980s into the early 2000s, secondly there has been an increase in private rental properties, particularly within the last 10 years.

First impressions are critical. Just like the view from the curb may prevent a buyer from getting out of the car, the view inside the house determines whether they make an offer. Buyers need to be able to imagine themselves living in your home, or perhaps more to the point, they need to envision your home as theirs. You can accomplish this by staging your home. Home staging is the process of preparing your home for sale to make its best impression on prospective buyers. It can be as simple as cleaning the house and putting out fresh flowers or as complicated as hiring a consultant to determine what furnishings and decorations best suit your home while it’s on the market. Big budget or small, how you present your home to potential buyers can affect how quickly it sells. Cleaning and decluttering are essential. The whole house should sparkle – especially kitchens and bathrooms. Clear off counters and organize cabinets and closets. Too much “stuff” is distracting and makes spaces feel cramped and small – definitely not a good impression. Remove furniture that blocks the natural traffic flow, being sure there is a clear walkway to all windows and that the windows and screens are clean. Visual cues help buyers process your home’s features. Keeping room décor simple makes it easy to ascertain a room’s purpose. A bed and a dresser in a room with a closet are all it takes to show that a room can be used as a bedroom. A table with chairs identify a dining area, formal or otherwise. Staging rooms for their traditional purpose helps buyers understand your home. Whether the final buyer decides to use rooms the way you show them doesn’t matter. There is a lot you can do yourself to get your home looking its best. Consult with your real estate professional before you start any projects to be sure that the payoff is worth the investment. Remember, once you decide to sell your home, it’s a good idea to behave as if it isn’t your “home,” anymore. Cutting the emotional ties makes it easier to get your “house” sold fast.

Investing in real estate has long been a proven way of accumulating wealth. There are some investors who make their millions by speculation and a deep understanding of the changing real estate market around them. Others fall into the category purely by luck! It was a job transfer, where they grew up, inheritance, etc. Regardless of the basis, the common denominator is real property. A way to diversify your assets from the often volatile stock market. There are as many different types of real estate investors as there are mutual funds to invest in. You have those who flip property, foreclosure sales, auctions, speculate, residential, commercial, industrial, raw land, rental income, etc. The list goes on and on. For most conservative investors who make their money in a specific profession, the types of real estate investments that interest them are typically a little less exotic. It might be making the transition from renting into buying a primary residence or a second step could be the purchasing of a second home. What I would propose more parents think about is the possibility of purchasing a second home for their son or daughter while they attend college. On the scale of risk aversion, this type of real estate investment is fairly safe. First of all, it fulfills an immediate need. Either way, money will most likely be spent on rent for the 4-5 years that kids go to school these days. And that is simply for a bachelor’s degree, not including the possibility of an extended masters program. If the money parents typically spend on rent goes towards a mortgage payment, the possibility of walking away with an appreciated asset is significant. Managing rental property might not be too appealing for the introductory level investor, but it doesn’t necessarily equate to a negative experience. In fact, there are several management companies that can assume the role of property management for an average fee of 7-8% gross monthly income. However, don’t miss the opportunity to let your son or daughter learn how to manage the property investment while they are living there. In fact, there is an excellent real estate investing guide specific for college students that I’ve read recently called, “College Real Estate.” One thing is for certain though. There is plenty of room for growth in the Texas real estate market. And to take that one step farther, I would submit to you that one of the next big areas of real estate growth will continue to be the acquisition of off campus student housing by both large investors and financially savvy parents looking for a return on their investment. As the number of college students enrolled in America grows 20% over the next 10 years, so to will the demand for student housing.

The goal of a Cost Segregation Study is to identify building costs that have been traditionally depreciated 39 years and to re-allocate a significant portion of these costs to a shorter, accelerated method of depreciation. Additionally, they can be used to identifying improvements that may qualify for the 50% bonus depreciation and allocating hard and soft costs to these improvements. Construction-related costs, which may account for as much as 75 to 90 percent of the overall project cost, are usually lumped together as real property with a depreciable life of 39 years. When segregating the costs of a construction project, it is easy to properly identify costs of equipment, furniture and fixtures, and computer equipment that can be depreciated over 5 and 7 years for tax purposes. Benefit vs. Costs Reclassification of costs from real property to personal property may: Reduce tax lives from 39 years to 5 to 7 for assets such as such as removable carpeting attached with latex adhesives, signage, movable and removable partitions, cabinets and shelves, decorative millwork, window treatments, interior ornamentation, certain electrical and plumbing equipment necessary for the operation of specialized equipment such as computer rooms (rather than for overall building maintenance and operation) or lighting fixtures that are used for decoration or plant growth. Identify leasehold improvements that qualify for 50% bonus depreciation. These are improvements that are not for the cost of building enlargements, elevators or escalators, structural components benefiting common areas, or a building’s internal structural framework. Structural components for these purposes are defined as load-bearing internal walls and any other internal structural supports, including the columns, girders, beams, trusses, spandrels and all other materials that are essential to the stability of the building. Generally 10%-25% of the total cost may qualify for reallocation of costs into shorter tax lives. In most cases, tax saving for the first year will greatly exceed the cost of doing the study. Candidates for Cost Segregation Studies Includes: Commercial properties with construction cost or purchase price over $1million. New construction or remodels/ rehabilitations after 1986 Lessees with leasehold improvements Improvements with special equipments such as a computer room, a technology demonstration room, or a special lab. Properties with cost lower than $1million, or planned to be sold in 2 years are not good candidates for a cost segregation study. Timing of Cost Segregation Study The best time to have a study completed is for the year the building or improvements are placed in service. During the process, considerable amounts of design or architect fees may be appropriately identified with certain equipments layout, non-structural improvements and be classified as properties of shorter lives rather than be lumped together and allocated to building. Specific identification is important since the IRS does not allow a simple percentage method for breaking out construction costs.

After a solid five year run of record home sales, the market is readjusting itself to a more normal level. Most of those who wanted to move have moved. Interest rates are rising again, lowering the upper end ceiling for buyers overall. With buyers qualifying for a lower mortgage today than they might have a year or two ago, the buyer pool for higher priced homes is shrinking. The large inventory of homes currently for sale is resulting in an overall downward trend of housing prices. With increased choices, buyers can be more choosy and take longer to make their decisions. As a result, longer market times may caution a buyer away from a property. There are three important factors for selling your home in today’s market: condition, price, and time. Condition reigns supreme over anything else. Buyers have so many choices right now that anything that looks like it needs work can be enough to kill your chances of selling. People prefer move-in condition, so if your property isn’t, you probably need to do what it takes to make it that way. It is worth the money to remove old wallpaper, paint, replace carpet, and replace the roof if it’s almost at the end of its life. Offering an allowance doesn’t work in these market conditions because buyers tend to overinflate the costs of these improvements, anticipating double or triple what it will actually cost you. Plus, with the number of homes for sale, if yours is the one that needs to be painted, chances are it’s also the one that won’t sell. There are exceptions, such as homes that need a complete overhaul, so it’s a good idea to discuss your home and your plans with your listing agent before getting started. A word about home improvements – consider improvements as solidifying your home’s value rather than increasing it when deciding on a price range. The kitchen you recently renovated or the room you added may help your home sell more quickly than the one down the street because it’s in better condition, but it won’t necessarily increase your home’s value. If you’re not looking to sell your home right now, spending the money on upkeep and maintenance now can help you avoid needing to spend a lot all at once when it is time to sell. The second factor is price. You want to have the best price on the market. That doesn’t necessarily mean the lowest price, it means value. It’s a good idea to price your home aggressively because there are so many options available. If there are 40 homes for sale in your price range, you want your home to stand out as the best home for the money. Misperception or misunderstanding of the current market conditions can lead to improper pricing which in turn can lead to excessive market time or even no sale at all. What you paid for your home or what your neighbors sold their home for last year are irrelevant when deciding on your asking price. Factors you and your Realtor should consider are your home’s current condition, the condition of other homes for sale in your price range, the asking price of homes similar to yours, and which homes are selling and which are not. Accurate pricing from the outset increases the likelihood that your home will find the right buyer quickly. The first three weeks on the market are the most important – that’s when people are excited to see the new kid on the block. A strategy of starting on the high end and then lowering it over time is rarely successful in a normalizing market. By the time the house is where it should be, interest has peaked and buyers have moved on.

The cost of living is perhaps the number one factor that keeps many Americans from moving to California. Despite the increased salary that one has to make in order to afford housing in California, many people do choose to move to California. Because there is a constant movement of people into the city, there is a constant need for housing in the state. This is why many real estate investors have not yet pulled out of California real estate. In a market that is shaky like the California real estate is important to watch housing trends. These trends will give the information that is needed in order to determine the right time to sell your holdings and set your sights elsewhere. Home price growth rates and sales rates are two of the biggest factors to pay attention to. It is also of use to know the average market time for California real estate. The shorter the market time, the better the odds for California real estate investors. If the average market time increases each reporting period, it is not wise to enter the market. When California real estate investors begin to experience longer than average turnaround time on properties it is a sign that is time to remove current California real estate from the portfolio. It might be necessary to do some price adjusting in order to sell the house. Some of the California real estate housing markets that have seen signs of slowing in the near future are Sacramento and San Diego. Investors in these California real estate markets are advised to sell their properties as quickly as possible to avoid losses. Keep in mind that, at this point, it might not be possible to salvage any profits from current properties. It is more important to avoid huge losses as these markets continue to decline. California real estate investors that have condominiums on their current portfolio are safe for the time being. There aren’t any strong signals that this market is slowing with the housing market. Prospective investors will be safe for the time being to invest in California real estate markets like Oakland, San Francisco, and Riverside. These markets are still showing signs of growth. Since prices are in the rise in these areas, investors should get in and out of these markets as quickly as possible. While there are guaranteed gains for the near future, there is no guarantee that the potential for gains will be long lasting in these areas.

If only I'd had the foresight to buy an investment property in Spain, the South of France, Tuscany or in Malta twenty years ago when property prices were so cheap because the desirability of the destination had yet to enjoy exposure...if only... Many people believe that the world's most beautiful locations are the countries in and around the Mediterranean Sea - think Spain, Malta, Turkey, Egypt, Sardinia, Italy, Morocco and Tunisia. All are nations synonymous with a fantastic climate, a wonderful quality of life, excellent cuisine, friendly and laid back people...naturally enough the Mediterranean countries are the most popular with those looking for a sun drenched holiday, a beautiful place to retire to or the perfect place to buy a property that will go up in value, be easy to rent and easy to resell. But many have already missed the affordability boat. Properties on the most popular islands in the Mediterranean Sea and in the most desirable locations start from a quarter of a million pounds and go up to tens of millions. So the average property investor, second home seeker or retiree looking for an affordable place in the sun is going to be sadly disappointed then? That is unless they discover the secret delights of Northern Cyprus… North Cyprus is the secret and undiscovered third of the island of Cyprus that has been left untouched, unspoiled and unsullied by the greed of the 1970s and 1980s, it has escaped the overdevelopment and mass tourism of the 1990s and it has emerged in the new Millennium as a gem in an otherwise saturated, over priced market. Properties in Northern Cyprus start from just GBP 60,000 for a duplex apartment in a resort on a championship golf course! North Cyprus truly is the very last Mediterranean property investment hotspot and it will not remain undiscovered for long. While the government are committed to preserving the beauty and culture of the island and determined to prevent it being overdeveloped and sullied, the properties that are being built sympathetically are catching the eye of international property investors, retirees, second homers and those looking to afford to start a brand new and exciting life in the sun. The number of visitors coming to Cyprus is increasing rapidly; large international developers are discussing many projects from seven star hotels and luxurious resorts to more golf courses, marinas and even a furthering of the higher education establishments that North Cyprus is already famous for. Demand for property for sale and rent is coming from the large student base but more importantly it is coming from retiring Europeans, young families and couples, holiday makers, those needing a second home and even corporate investors. Northern Cyprus property will not remain so affordable for so long - firstly the demand for property for sale is outstripping current supply and builders cannot keep up with demand, secondly prices are already increasing and finance is being made available privately broadening the numbers of those who will be able to enter the market. As demand soars and supply remains steady and restricted by the government's high standards, prices are rising and are going to keep on rising...making North Cyprus's property market one of the hottest in the world.

The real estate market, specifically property management market for United Kingdom and Spain, evolves constantly and requires all experience and commitment of management professionals to satisfy the necessities for construction, buys and sale of buildings for more demanding clients every day. And why I say this? Then, the property market is more and more competitive, actually: new companies are born, the technologies innovate constantly and produce new materials, the geographic breach is not more a limit thanks to the increasing and solid commercial relations generated through the Internet, and the receiving public is allows of competitiveness and quality of the present properties management services. Therefore, it is strategic and relevant that management professionals fuse in an only quality service those points that the receiving market delay of them. A qualified service that integrates: • Simple and realistic budgets. • Projects to the measurement of each one of clients. • Excellent yield at price/quality relation of project. • Excellence of external contracted services. • Flexibility, security and confidence. • Fluid communication channels. All these points of property management interrelated to each other and verified throughout the process, to principle to aim, establish a relation that offers clarity and confidence between involved parts. It fortifies communication channels, it clarify the aims and it is the most effective instrument at the time that it is necessary solve no predicted questions that arise like result of new ideas and modification made during the same project development. The present challenge is create communication channels between the different professionals from the sector to generate integrating strategies, which satisfy a demanding market. The constant qualification, the multi-sectorial relations, handling of new technologies, the international projection and a solid position through the time are factors that will contribute to that the management of properties be an integral service more and more sophisticate and attractive.

The cost of living is perhaps the number one factor that keeps many Americans from moving to California. Despite the increased salary that one has to make in order to afford housing in California, many people do choose to move to California. Because there is a constant movement of people into the city, there is a constant need for housing in the state. This is why many real estate investors have not yet pulled out of California real estate. In a market that is shaky like the California real estate is important to watch housing trends. These trends will give the information that is needed in order to determine the right time to sell your holdings and set your sights elsewhere. Home price growth rates and sales rates are two of the biggest factors to pay attention to. It is also of use to know the average market time for California real estate. The shorter the market time, the better the odds for California real estate investors. If the average market time increases each reporting period, it is not wise to enter the market. When California real estate investors begin to experience longer than average turnaround time on properties it is a sign that is time to remove current California real estate from the portfolio. It might be necessary to do some price adjusting in order to sell the house. Some of the California real estate housing markets that have seen signs of slowing in the near future are Sacramento and San Diego. Investors in these California real estate markets are advised to sell their properties as quickly as possible to avoid losses. Keep in mind that, at this point, it might not be possible to salvage any profits from current properties. It is more important to avoid huge losses as these markets continue to decline. California real estate investors that have condominiums on their current portfolio are safe for the time being. There aren’t any strong signals that this market is slowing with the housing market. Prospective investors will be safe for the time being to invest in California real estate markets like Oakland, San Francisco, and Riverside. These markets are still showing signs of growth. Since prices are in the rise in these areas, investors should get in and out of these markets as quickly as possible. While there are guaranteed gains for the near future, there is no guarantee that the potential for gains will be long lasting in these areas.

There are literally dozens of essential details that need to be attended to for your real estate closing to go smoothly. Through experience we learn the little things that make a big difference, but experience can be an expensive teacher. You need not experience costly mistakes – just follow these simple tips to a smooth a closing! Before the Closing Loan Details/Appraisal There are a few items that you will want to touch base with the lender on prior to your closing. First, verify that the term, interest rate percentage (fixed or adjustable), points, fees and so forth on the loan are actually the same as they were when you originally talked with the lender. For example, you might say, “I just want to verify that my loan is a 30 year loan, with a 6.5% interest rate, which is fixed (not adjustable), the origination fee is 1% of the loan amount, and there is no prepayment penalty.” If there are any deviations from what you had originally discussed, resolve those issues. Ask the lender to be sure to provide you with a copy of the appraisal at the closing. Property InsuranceContact your insurance agent letting him or her know that you are under contract to purchase a property and need to obtain property insurance. Lenders will not allow the closing to go through without insurance coverage on the property. Check with the attorney’s office a couple of days before the closing to ensure that they have received the insurance binder. Title Insurance Title Insurance is insurance against loss resulting from defects or failure of title to a specifically described parcel of real property. There are two types of title insurance, lender’s title insurance and owner’s title insurance. If you are obtaining a loan on the property from a lender, they will require title insurance – lender’s title insurance that is. However, there is also owner’s title insurance. You will need to let the closing attorney know that you want owner’s title insurance so that you can be protected against any title defects that may arise. Schedule UtilitiesContact the power, gas, and water companies and set up accounts to turn on the utilities the day of your closing or on the date that you prefer the utilities be turned on in the property. Remember that sometimes it can take a week or more to set up accounts and get some of these companies to turn on service. Don’t have your plans delayed after you close, schedule ahead of time! If the closing ends up being rescheduled for a later date, you can always call back and change the date that the service is scheduled to begin. Settlement Statement Call the closing attorney’s office and ask for a copy of the settlement statement to be faxed or emailed to you the day before the closing. Review the statement thoroughly making sure that all fees are correct and that both buyer and seller are paying the correct amount of closing costs. For more information on understanding the line items of the settlement statement, visit HUD’s website at http://www.hud.gov/offices/hsg/sfh/res/rsphud1inst.pdf . Call the attorney’s office with any questions and/or to report any inaccurate information. Ask for corrections as necessary and that a revised settlement statement be sent to you as soon as possible. Review the revised statement for accuracy. Pertinent Items Call the seller to remind them to bring keys to the property and other necessary information, such as warranties, alarm codes, garage door openers, etc. to the closing. You would be amazed at how often these items are forgotten! Walk Through InspectionWalk through the property the day before the closing to ensure that it is still in the same condition as it was in when you previously viewed it. Remember that items could have been removed, and theft or other damage could have occurred between the time you last viewed the property and the time that you are closing. Protect your investment and eliminate surprises that can cost you money and cause frustration in the future. Verify Closing Schedule Before you get into your car and drive to the closing attorney’s office, call to verify that closing is actually going to occur at the scheduled time. Closings often run late and/or are delayed at the last minute for a number of reasons. At the Closing Review Documents/Ask QuestionsClosing attorney’s usually move pretty swiftly, handing you one long document with fine print after another to sign. They will typically briefly describe what the document is and then point to the signature line while looking at you with a smile on their face waiting for you to sign. Even though the pace may feel fast and you may feel rushed to sign the documents without thoroughly reviewing them, do not hesitate to stop and read all documentation and contracts, asking questions of the closing attorney as necessary. It is better that you take your time and ask all of the questions upfront rather than end up unhappy, confused and frustrated after the closing when it is too late to make changes. Mailing AddressIf you will not be living at the property you are purchasing, be sure that the mailing address on closing documents is YOUR MAILING ADDRESS and not the property address. Many times the mailing address on the closing documents will end up as the property address rather than your mailing address. If the mailing address is listed as the investment property address, all documents pertaining to closing such as the recorded warranty deed and title insurance will be mailed to the property and not to your mailing address. You don’t want these important documents getting lost nor your tenants or others reading them should they show up at the property! I once purchased an investment property from an estate where there were nine children and nine quit claim deeds. Unfortunately, all of the recorded deeds from the closing were lost since they were sent to property address and never returned. It is much easier to make sure that your mailing address is correct than it is to get the deeds and other pertinent information after it has been lost. Obtain Pertinent Items for PropertyAsk the seller for the keys and other pertinent information that you need regarding the property. Be sure that a copy of the appraisal is included in your closing package. After the Closing Recorded Warranty Deed & Title Insurance Mark your calendar 45 days after the closing with a reminder to check with the closing attorney if you have not received your recorded warranty deed and title insurance policy in the mail. It is important to receive these items and file them away for safe keeping. Be sure that you remember to get them in a timely fashion. It will be easier to obtain them soon after the closing than it will be when you find you need them at some point down the line. Keep your files up to date and organized to protect your interest and your sanity in the future! TaxesFind out when the property taxes are due on the property. Mark your calendar with due dates. There is a good chance that the previous owner will receive the tax bill due to the fact that the tax records may not have been updated by the time the tax bill is mailed out from the county/city. As the owner of the property, the tax bill is your responsibility even if you don’t receive the bill. If the tax bill is not paid, a tax lien may be placed on your property. It is best to be prepared and protect your assets now rather than having to deal with time consuming and costly issues later! Make these tips work for you. Use this document as a checklist and action list. Write notes beside each section, date the sections and check them off when completed. Good luck with your closing!

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.

Maybe it’s a Low-country beauty overlooking a sun-kissed green or a contemporary A-frame along the fairway. Whatever and wherever your imagination goes, the dream homes provided by Golf Magazine, The Progressive Farmer and HGTV demonstrate the latest trends in laying a solid foundation for your dream home. When plans go from daydream to drafting board to job site, it’s important to involve skilled professionals who share your vision and enthusiasm. Choosing a qualified architect to map out your dream home is a necessity. In the case of Golf Magazine’s Dream Home at Reynolds Plantation on Georgia’s Lake Oconee. Cincinnati architect Don Beck created plans for a lavish 4,500-square foot home with four master bedrooms and a locker room. Getting a feeling for how willing the architect is to work within your design requests is also essential. Emphasizing country living at its best, The Progressive Farmer dream house is designed for people with a penchant for rural life. Building your dream home might mean incorporating your plans into a themed community – design restrictions and architectural standards. Builders of The Progressive Farmer dream house at McLendon Hills, a lake and equestrian community near Pinehurst, N.C., incorporate cottage influences into the design. HGTV’s dream home at Cumberland Harbour in St. Mary’s, Georgia has both coastal and Victorian elements. Many of the nation’s top builders and suppliers contributed to the materials and amenities of each dream home – products you’ll want to consider using once two-by-fours start going up. Golf Magazine’s dream home features paint provided by Ace Hardware, broadband phone service by AT&T, and state-of-the-art appliances and consumer electronics by Best Buy. Your builder should be able to recommend materials that are both energy-efficient and consistent with your home’s design theme. Altogether – from breaking ground to laying a welcome mat – you can expect the construction of your dream home to take a year to a year and a half. Sometimes you need to see it to believe it. To stir would-be dream homebuilder’s imaginations, each of the 2004 dream homes spent several months open to the public. In addition to being featured in its November 2004 issue, Golf Magazine’s dream house at Reynolds Plantation was open to the public. According to Bill Houghton, Vice President of Marketing for Reynold’s Plantation, approximately 17,000 people toured the home in six months. The Progressive Farmer Idea House and Farmstead was open for tours this summer and was featured in the August 2005 issue. HGTV’s dream home tours at Cumberland Harbour debuted in May 2007 with a Winner’s Weekend that awarded one of approximately 35 million contestants the dream house itself, worth $1.2 million. Also a giveaway event, the HGTV 2006 dream house is under construction at Grey Rock at Lake Lure, NC. At 4,500 square feet, Golf Magazine’s dream house features a spacious, “’Hunt Club’ interior with leather as a fabric of choice, lending a ‘sense of sophistication’”, according to interior designer Jan Vorderburg. Four master bedrooms with accompanying bathrooms guarantee a luxurious stay even guests will enjoy. Golf Magazine publisher Chris Whitman said, “The Golf Magazine dream house has exceeded expectations on every level…truly a dream come true for golfers.”

There is quite a bit of real estate available in Arizona, because new homes are being built constantly. If you’ve ever been to Arizona, you may be surprised by its vast open spaces – and even the new developments that spring up don’t seem to take anything away from all of that wide open space. In fact, all of that beautiful space is what attracts many people to the Arizona real estate market!Many people buy real estate from a distance, sight unseen. While this practice can be used to scam people out of their hard-earned money, if you follow certain guidelines you and your money should be relatively safe. Start by understanding what documents you should see throughout the sale process. The first thing you should see is the MLS printout. MLS stands for Multiple Listing Service. The MLS printout is a copy of the listing that was sent out by the service. It contains a description of the property, and there may be statements made in the MLS that need to be verified for