Sabtu, 12 Juli 2014

A Quick Guide To A Quick House Sale


A Quick Guide To A Quick House Sale
Need to sell your house quickly? Put off by the thought of estate agents and viewers tramping through your home? Follow this quick guide to selling your home fast.

There is an alternative to the traditional route when it comes to selling your home. You can use one of the many specialist companies that offer to buy your house so that you’re not at the mercy of a chain, or paying huge fees to agents and solicitors. Here are the steps you need to follow:

1. Decide how quickly you need to sell your home

Most quick sale companies can complete the purchase of your house within just four weeks. If you need to sell sooner than that, just say so; they can normally arrange a quicker purchase. If you’re selling your house because you’re relocating unexpectedly or because you’re in financial difficulty, set a realistic timetable and ask the company if they can keep to it.

2. Decide how much you will accept for your home

You may not get the full open-market price for your property as you would with an estate agent, but you don’t have to pay estate agent fees and the whole process is quicker which means you save on mortgage and bill payments. Look at the current market value of properties like yours in the same area and decide how much you’re willing to accept from a specialist buyer, bearing in mind the other savings you are likely to make.

3. Talk to the companies

Always try to talk to the specialist companies rather than just contacting them over the internet. Talking to them gives you a much better idea about how they approach the sale. You can also take this opportunity to ask any questions about the process and to make sure that you can use your own solicitor to check the contract and that you won’t be asked to commit on the spot.

4. Meet an agent

Most specialist buyers will send someone round to view your house. This allows them to give you an accurate and fair valuation and also gives you the opportunity to ask any further questions.

5. Agree the sale

Once you’ve been given a valuation, you will normally have a set period in which to think about whether you want to agree to the sale. If you decide to go ahead, it’s a good idea to get an independent solicitor to look at the contract before you sign. Make sure you know if there are any additional costs to pay, and when you will receive the money. Also find out when you will be expected to vacate the property and whether the company can help you find other accommodation.

Getting a quick house sale is as easy as these five steps and can be accomplished in as little as 3-4 weeks, making it ideal for people in a wide range of circumstances, including those going through a divorce or bereavement or those who are in financial difficulty.

5 money saving tips when selling your home


selling your home
Your home is undoubtedly the most valuable asset for the vast majority of us and selling it will cost thousands. Using the money saving tips in this article should reduce the cost of moving home.

Estate Agent fees vary, so shopping around and don’t forget to haggle and pay one off against the other. You should aim for 1% commission, also push then to limit the tie-in period to no more than 6 weeks, this gives then enough time to sell the house, but if they can’t you can move to another agent without going “multi-agent” which will increase the fee to about 3%+, a big no-no! Ensure you get a fair valuation, never tell an estate agent what other agencies have valued your house at. They will use this to manipulate its offer, often resulting in wide distortions. 

It is false economy to go for the cheapest solicitors, so get recommendations from all the estate agents you speak to and remember to ask for the name of specific people, rather than just the legal firms. Give them a call and ask what their charges are, also note whether they are they friendly, helpful, and most important efficient? Fees are negotiable so haggle! Play off each one against the other to get yourself the best service at the best price.

Selling you house privately can save thousands. One in twenty vendors are now taking the DIY route which could save you thousands. That is a massive money saving tip, but there are a couple of downsides, basically “time and effort”. You could consider newspaper advertising, flyers and signs. Newspapers usually charge per line or per word so try to keep your advert as brief as possible without making it uninteresting. The simplest way would to sell your house yourself is to use one of the many online house selling service.

Obviously it is best to sell your house when the market is strong and demand is high, so keep an eye on the local property market. Generally, the market tends to be stronger in early and late summer than the rest of the year, so aim to sell your house then. Also avoid completing with your neighbours so if there are already a few “For Sale” signs on your street, it might be better to wait a bit.

Research has shown that a poor presented house can take longer to sell and may reduce the price by thousands. So get your paint brushes out, give your home a lick of paint and finish all of those DIY jobs which are outstanding. Also talk to the estate agent about adding value to your property it maybe worth spending a bit of cash to make some more. However, be careful not to over spend, you might not get your money back, so talk all planned improvements through with your estate agent.

Kamis, 10 Juli 2014

Property Management


property management
The challenges and benefits of property management services

Management is the direction, control, coordination and operation of resources towards specific goals and objectives. Property is something somebody or some entity owns, and may be tangible, such as real property, or intangible, such as a copyright. Typically, property management refers to the management of real property. This includes land, everything on its surface, such as buildings, ponds, streams, the air over it, and what may lie beneath it, such as minerals. It may also refer to personal or movable property, such as tractors, maintenance tools, and the like. The real property may be industrial, commercial, or residential. The activities of management are employed over processes, systems and employees, to facilitate and achieve the purpose for which the real property is used.

Most property requiring management is rented or leased property.  From the owner's point of view, the purpose of the rented or leased property is to generate income. Maximum output is full occupancy by paying tenants at the highest market price. What that price should be is often determined by the owner, but a property management service may provide the data the owner needs to make a sound decision. Property managers may also be given authority to set rent or lease prices in order to remain competitive with the marketplace.

Once rent and lease prices have been set, the property manager will take over operations of the property and obtain tenants. The property manager may be responsible for the marketing of the property, including advertising and promotions. Prospective tenants will contact the property manager, who will show the property and screen the applicants. Generally, the property manager selects the tenants and administers the rental and lease agreements with those selected.

Property management then has the responsibility of collecting rents and handling any collection problems, from late payments to non-payments. In cases of eviction, the property manager will work with the owner's legal counsel. Property managers will be well acquainted with building, health and safety, labor, environmental, and business licensing codes in order to provide a managed real property that meets both its tenant's expectations and those of the law. Property mangers are responsible for the maintenance and repair of the property, as well as its security. Disputes with tenants often revolve around the level or quality of service or maintenance the property managers are providing. The property manager will want to provide the highest quality possible, not only to avoid these disputes, but to establish a quality reputation. The goal of the property manager is to provide a quality product for a fair, but also profitable price.

In addition to handling property and tenants, property managers keep accounts, manage insurance, and make purchases and acquisitions for the property's maintenance. They will also care for the property themselves or contract or employ maintenance and service personnel. Property managers may also be responsible for personnel and payroll.

Property management is a full business concern involving most aspects of business from accounting to marketing. Colleges and universities may offer specialized degrees in the subject. For the small business, a multitude of tools are available, including on-line education, books, as well as Internet sites offering guidance, services, and tools. For those who own property but do not want to, or cannot manage it themselves, a property management firm is your best choice.

Rabu, 09 Juli 2014

5 Ground Rules for Home Buying Success


Home Buying Success
There are few purchases in life that carry the financial and psychological weight of buying a home.  Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, it is important to understand the ground rules for success in the world of buying a home.

Making the wrong decision in buying a home can have devastating and long lasting effects, while making a wise decision in home buying can greatly enhance the overall value of the investment.  It is necessary to learn all you can about the world of home buying and mortgages before setting out to purchase the home of your dreams.

While there are plenty of web sites designed to help first time homeowners learn all they can, most financial experts say that there is no substitute for the good old one-on-one learning. Fortunately, most mortgage lenders, home inspectors and real estate agents will be able to provide this kind of one-on-one learning.

When buying a home it is often best to use a systematic approach as this is often the best way to be sure that all decisions are based on information and reason, not on impulse or emotion.  Buying a home can be an emotional process, nevertheless it is imperative to keep your emotions under control and not let them cloud your judgment.

There are five basic ground rules when it comes to buying a home and shopping smart, and they are:

1 – Get your financing before you get your home</b>

There are few things in life as disappointing as losing out on the home of your dreams due to not being able to secure funding.  While the desire to get out there are search for that great home is understandable, it is vital to line up the financing you will need before you start shopping for a home.

Getting the financing ahead of time has a number of important advantages, including knowing how much you can buy and gaining more respect from the listing agents.  By knowing how much home you can afford before you shop you will avoid wasting your time looking at unaffordable properties, and the listing agent will be more than willing to show you the homes in your price range.

It is also important to take a good look at the various types of mortgage on the market before getting started in the home buying process.  These days, mortgages come in far more choices than the typical 15 or 30 year. For that reason, potential home buyers need to understand how each type of mortgage works, and to gauge which mortgage is the best choice for their needs.

2 – Look at the community, not just the home</b>

It is a good idea to look at the entire community, instead of focusing on a single home. This can be a particularly important thing to consider for those moving to a new metropolitan area, as these buyers will be unfamiliar with the local climate and lifestyle.  It is crucial to determine the areas of town that are most desirable, and to consider things like distance from work and local shopping opportunities.

We have all heard that location is the key consideration when it comes to real estate, and that is certainly the case.  Buying a house in the wrong area can be a big mistake, and it is important to choose the location as well as the home.  Potential buyers can learn a great deal about the nature of the various neighborhoods simply by driving around town, as well as by talking to other residents.

3 – Be fair with your first offer</b>

Trying to lowball a seller on the first offer can backfire, as can paying too much. It is important to carefully evaluate the local market, and to compare the asking price of the home with what similar houses in the neighborhood have sold for.

Comparing the sales of comparable homes, what are known as "comps" in the industry, is one of the best ways to determine what is fair, and to make sure that you neither overpay or underbid on the property.

4 – Always get a home inspection</b>

Always investigate the home for any possible defects before making an offer.  Compared to the cost of the average home, the price of a quality home inspection is virtually negligible. Hence, get a good home inspection done before you buy.

To find the best home inspector, it is a good idea to seek out word of mouth referrals as many of the best home inspectors rely on word of mouth advertising.

5 – Do not alienate the sellers of the home</b>

Many real estate deals have fallen apart due to the personal animosity of the buyer and the seller.  It is important to avoid alienating the seller of the home during the process, and to avoid nitpicking every little detail during the sale.

Keeping the good will of the seller will help the transaction go smoothly, and it will provide the best environment for seller and buyer alike.

4 Dangers In Flipping Real Estate


Flipping Real Estate
If you have recently purchased some real estate for investment purposes, you are in good company. Recent reports suggest that as many as 25% of these purchases are made by those who plan on using the property for investment purposes only. If you hope to "flip" the property there are 4 things you must be aware of that can put a crimp on your profits.
1. Property Taxes.</b> Keep the property for a few years and you may experience a surge in property taxes especially if your taxes are reevaluated during that time. Some hot real estate markets have seen taxes nearly double in just 5 or 6 years.
2. Renovation Expenses.</b> You may have purchased a "fixer upper" at a bargain rate. Once your project is complete will you be able to recover the expenses and make a profit especially if the value of your renovated property is above those in your neighborhood? In addition, can you withstand a correction in real estate values?
3. Insurance and Mortgage  Costs.</b> You will pay more for homeowners insurance if you do not occupy the residence and you have tenants. If you are financing the property you know that your mortgage rate is higher as well.
4. Rental Pressures.</b> A market saturated with rentals will mean that the rents you can charge will be less than what you had hoped to receive. In some markets you are required to get special licensing in order to be a landlord. In other markets the legal rights of tenants mean you could have a lengthy and expensive battle in ridding yourself of a bad tenant. Will the lower income levels coupled with the added expenses drag your investment down?

Of course, you can limit your risks [and costs] by doing the majority of the upgrades yourself, appealing excessive property tax increases, and finding for yourself a trusted and dependable tenant. It isn't easy flipping a home, but with a lot of pluck and determination it can result in strong profits for you.

Selasa, 08 Juli 2014

4 Steps To Real Estate Investing Success


Real Estate Investing
Real estate investing is always good and sometimes it's red hot. When it's hot dozens of real estate seminars begin rolling across the country and thousands of people spend thousands of dollars for investing education.

It's startling to learn that of all those thousands of eager folks who attend these seminars only about 5% buy even one investment house. Why? The real estate gurus sell the "sizzle" and make profiting from real estate sound easy. The truth is that it's simple, but not easy.

Here's a quick plan that will enable anyone to begin building financial independence.

There are basically four steps to investing in single family homes:

1. Buy homes below full market value. Yes, people really do sell homes for less than the home's full value. The key is to understand that most home owners will only consider a purchase offer that is all cash and within 5% to 10% of their asking price.

The successful investor learns to find financially distressed home owners who have no choice but to sell for less than market value. They have lost their job or been suddenly transferred; they are divorcing; they been living beyond their income; the family has been overwhelmed with medical bills and, not uncommonly these days, their money has gone to support a drug habit.

Those are examples of motivated sellers. They have to sell and they will accept something other than a conventional, all cash offer.

2. How do you find motivated sellers? You work at it! Like any business it is important to develop a little marketing plan. One that is simple, yet very effective, is the one that was proven 75 years ago by the Fuller Brush company; door to door sales.

You are selling your skill as a home buyer to people who must sell. Your are there when they need you and you have the skill to help them solve at least part of their problem. With door to door prospecting you will learn more and buy more homes quicker than any other method. However, most people just won't walk door to door for three or four hours per week. OK, there are other ways.

You can watch public notices for the announcement of foreclosure sales. Meeting with a home owner right after they've received a notice that they are about to lose their home allows you to deal with a very motivated seller. Other public notices that provide buying opportunities include probate, divorce and bankruptcy. You can follow the Homes For Sale listings in your local newspaper or Internet site.

You can telephone the names found in these notices or, and this is the least time consuming, send a postcard expressing your interest in buying their property. It will produce buying opportunities, just not as many as personal contact.

3. After you've found a motivated seller you must understand how to frame offers that provide benefits for both you and for the home owner. A good real estate investor quickly learns that this is not a business of stealing property, but of solving problems in a way that benefits the seller.

The home owner is in a tight spot of some kind and you can save them from public embarrassment and, in most cases, give them at least a little cash to get a new start.

No investor can afford to leave cash in every deal. No one but Bill Gates has that much available money. You must use creative techniques like, leases, option and taking over mortgage payments. Little or no cash is needed for those deals. You can find plenty of reasonable priced educational material on those subjects in book stores or on EBay. The same education that seminars sell for thousands of dollars.

4. You make your profit when you buy! Never make a purchase until you've carefully determined exactly how you will get to your profit. If you hold it as a long term investment will the monthly rental income more than cover the monthly mortgage payment? Will you sell the deal to another investor for fast cash? Will you do some fix-up and sell the property for full value? Will you quickly trade it for a more desirable property? Have a plan before you buy.

There you have four steps that even a part-time investor can execute in three to four hours per week. What's the missing ingredient? Your determination and perseverance. If you will unfailingly follow the plan for a few months you will be well on your way to financial independence.

Successful real estate investor tips


Successful real estate investor tips
Becoming a successful real estate investor requires being able to find good real estate investment deals and put them together. Your job is not to become an closing attorney, a management expert, or a repair person. Use professionals!

You must learn how to appraise and find the true value of real estate this information will help you make better investment decisions. Realtors, appraisers, and banks determine what a property is worth by looking at comparable sales usually three to five sales of similar property that has recently sold in the same neighborhood. You must be able to do the same.

Getting a list of comparable prices of properties  bought or sold (and when it sold) for the neighborhood you need information about, and asking active real estate investors in your area what the market is like will be helpful and making a better investment decision.                                                                                                                                                                                                             What is the ideal market for investing?
There is no such thing as an ideal real estate market for investing. It tends to be more difficult to find bargains in rising markets if the market keeps rising the probability of selling the property quickly for a large profit increases. In contrast but when property values are falling more bargains become available.

You need to be able to assess the true value of properties based on when you expect to sell. Your purchase must be made at a good enough discount to allow for a profitable sale at a later  date.
Leverage
Leverage is very important for investors because the less cash you put down on each property the more properties you can buy. If the properties go up in value your rate of return goes up. However if the properties go down in value and you have a lot of debt on the property this can result in negative cash flow.

Since real estate is generally cyclical negative cash flow is only a short-term problem and can be handled if you have other income or a cash reserves. This makes "Nothing down" investing very helpful to protect against negative cash flow for high leverage investor.

If you are a long term real estate investor leverage will work in your favor if the markets in which you invest appreciate in the long run and your income from the properties can pay for most of your monthly debt.                                                                                                                                                                                                            Strategies to limit risk
To limit risk become educated in your local real estate market first by understanding the large scale trends from global down to national regional and specific neighborhoods. Learn about target neighborhoods with the help of successful real estate investors in your area along the way.

Real estate investors can help you interpret market indicators such as the average length of time houses have been on the market this month versus last month or last year. With this information it will help you make better investment decisions.
                                                                                                        

Renting Back After Your Home Is Sold


Renting Back After Your Home Is Sold
Sometimes it’s helpful to sell your home before you really want to move. This often happens when you are having a new home built, but aren’t sure of the completion date. Is there any way you can sell your home so you’re sure of the funds available for the new purchase, but continue to live in your old home until construction of the new one is complete. Yes, there is with the renting back strategy.

Enter the Lease-Back or Rent-Back Agreement

The particulars of this strategy vary from state to state, but in the strong seller’s market we’re experiencing, buyers will often agree to let the seller stay in the home for a period of time as long as rent is paid. In a competitive situation, the buyer willing to do this will often have the winning bid even though there is another offer as high as his.

The agreement covering the situation states the length of time the seller will remain.  It can be done with a specific date named or wording that allows the seller to remain up to a specific date with the possibility of her moving sooner. The amount can be a fixed figure paid out of the proceeds of settlement or a monthly amount, or a daily amount. It is usually, but not always, tied to the amount of the mortgage payment under the buyer’s new loan. Sometimes there is a deposit against damage, sometimes not.  There is usually a clause saying the seller will hold the buyer harmless for any damage to himself or his property which occurs after the sale is consummated and before the seller moves.

The attorney who draws up your contract offer can create such an agreement. If you’re using online forms, you should be able to find one for this situation. If you’re working with a real estate broker, he or she can handle it for you.  

An Example

I’ve recently seen a very pleasant example of this idea in action. An elderly widow contracted to have a one level condo unit built in a new community which provides all exterior maintenance. She had had hip replacement surgery and wanted to get away from the drawbacks of the home in which she’d reared her children. The home was large, had stairs and was located on a large, partially wooded lot with many mature perennials and shrubs. Both the home and garden were beautiful, but high maintenance.

Her contract to purchase required a series of deposits and a firm indication as to her source of funds well before settlement on her new condo. The widow put her home on the market. A young couple with two sons was very anxious to buy it. The situation was competitive. They made the widow an offer. She countered their original offer. She did not raise their offer price, which was slightly below her asking price.  She did not believe the young couple would qualify for a larger loan. Instead, she did something rather creative.

The widow countered with a proposal that she “rent back” for a period of “up to” a certain date (a date beyond her scheduled competition date on the condo) in exchange for a modest flat sum to be paid to the buyer at settlement. The total rent back period was less than two months. The flat fee was less than the amount of the new mortgage payment for the buyers. However, since they made no payment on their new mortgage the first month, it wasn’t too far out of line. The couple really wanted the home, so they accepted the counter offer.

Another win, win situation was created. The widow only had to move one time and the young couple got a house they probably wouldn’t have in a straight bidding war. If you find yourself in a situation similar to either the widow or the young couple, perhaps you can work out a similar solution.

Minggu, 06 Juli 2014

The Bold World of Architectural Interior Design


The Bold World of Architectural Interior Design
Furniture and decor have often been lauded as a way to spice up or add chic to the interior of your home. A few extra pieces and a little rearranging can make an old space feel new. However, if you have the resources and the vision, architectural interior design can provide you with a bold new way of reinventing your living space. Perhaps it is not enough to change the contents of that old room. Perhaps now is the time to change the room itself.

There are a couple of ways to use architectural interior design to your advantage. One of the more dramatic steps to take would be to alter the ceiling of your room. This can be done in one of a few different approaches. First, you can take the simple route and put in skylights. The addition to your will increase natural light, and give the room an airy feel. Another option might be to bump the ceiling up. This can be done in a variety of fashions. One option would be take out ceiling panels. These usually drop the ceiling down nearly a foot, and can make a room seem much smaller. If you remove the paneling, and instead, put real or fake beams up to disguise some of the wiring and pipes, you'll add inches to the room and texture and character to the ceiling. Another choice would be actually building on top of the room. This, especially when combined with some form of vaulting, is a form of architectural interior design that gives a dramatic, spacious affect to a room.

However, architectural interior design is not limited to the size and scope of a ceiling. There are other small matters of architecture that can be added to accentuate your living space. An example of this might be moulding. If you surround your doors with a decorative moulding, it gives the room a more regal sensibility. If you add crown moulding to the top of a very basic, simple room, you can make it seem a little smaller and more cozy. If you add baseboards to the bottom edge of a room especially with lighting built in, you can give the room an ambiance it was previously missing.

Another component of architectural interior design might be the type of lighting you choose. Instead of your basic ceiling fan, consider a chandelier. It does not have to be something that you might see in a palace at Versailles. Chandeliers come in all shapes and sizes these day. Some are the traditional crystal designs, but others are much more modern. You might see some with box shaped covers of different shapes and sizes, and others that hold small simple bulbs at different lengths in a random fashion. Regardless, you should be able to find something that suits your needs. The overhead lights are not the only way to go, either. Consider putting in crown moulding lights, which will give a warm glow to a room without the harsh affect of a bright lamp or overhead lighting fixture.

Apartment Listings


Apartment Listings
Ten years ago, if you were looking for a place to live, you’d have to look up the local apartment listings in the phone book or a real estate magazine. Landlords would advertise any private apartment listings by simply putting a ‘for rent’ sign in the front yard. Sure, those methods worked perfectly. In fact, they still do work. It may very well be that the best way to advertise apartment listings is still the old-fashioned way – by putting a sign in a front window or yard. If it is in a highly traveled area, lots of people are going to be exposed to your vacant apartment.

However, when you’re searching for an apartment, you certainly don’t want to rely on simply being in the right place at the right time to see a ‘for rent’ sign. You want to be proactive and search for apartment listings in more modern fashion. Sure, you can open up the phone book. Lots of apartment complexes are advertised in there and you can scan through the many pages until you find the perfect complex. There are tons of advantages to living in an apartment complex. You probably will have a pool or walking trails, maybe even a fitness room for your enjoyment. There may be quite a few perks to living in a community like that. However, for some renters, they don’t want to be able to hear people walking around in the apartment above them. They might not want to have to drive around looking for a parking spot when there are so many tenants in the same complex.

Looking for private apartment listings can be a better find for those who don’t want the close proximity of a million neighbors. Private landlords may be more flexible with their rules and rental fees as well. But, where to find these apartment listings? Why not go with modern day technology and look online for those apartment listings? Craigslist seems to be a site that is quickly gaining more and more popularity with a multitude of for sale items and even apartment listings for rent. You may find more than simply private apartment listings; you might see that some complexes are being listed as well. It is absolutely free to list anything on craigslist, so more and more people and companies are turning to the internet to advertise.

Of course, you might also find some apartment listings in other traditional settings as well – maybe on a grocery store bulletin board. Perhaps your church has a bulletin board or place for free advertising too. Word of mouth can tend to be rather effective as well. Let your friends and family know that you’re looking for an apartment. They may be able to get you in touch with someone who has an available apartment. Practically anywhere you turn – whether it is in a grocery store, in the phone book or on the internet – apartment listings can be found. They may be privately owned and rented or large apartment complexes. The point is, they all need to advertise their vacant apartments and you don’t have to always be in the right place at the right time. You may simply need to be on the internet at just the right moment in order to see the apartment listings.