Real Estate Networks

Whether you are selling a house, townhouse, condo or apartment, there are universal tips that will help it sell. Primary among those tips are making sure your home “shows well.”

First impressions of a home go a long way to determining how quickly it will sell. Here are a few suggestions that will make your home show well.

1. Be sure the approach to your home is clean, tidy and well groomed. Any brass should be polished, paint on the door should be in good condition and the door should be washed clean of fingerprints and paw marks.

2. If your home is a single family house, be sure the grass is cut, leaves raked, plant beds mulched and weeded, etc.

3. If your home is in a multi-family building, be sure the approach and hall to your home is clean even if it is not your job!

4. Be sure your home is tidy and uncluttered. This includes closets, cabinets, garages, and other storage areas. When “stuffed,” no amount of storage “shows” as adequate. When really messy, no room looks charming.

5. Make any repairs that are noticeably needed. Door handles and locks should fit well and firmly. Exterior doors should shut and lock solidly. Drains and downspouts should be firmly attached and clear of debris so water flows freely. Attached light fixtures should be firmly attached. All switches should turn on whatever they were designed to turn on — light, fan, disposal, etc.

6. Conventional wisdom dictates your home should be “neutralized.” You can’t really go wrong following this advice. You know the drill — beige or soft gray carpet, beige, gray, or taupe walls, white or off-white woodwork and ceilings. Sometimes a very soft gold or a soft sage green can also “read” as neutral.

7. If you have a sure sense of decorating (you probably do if family and friends frequently ask your advice and you enjoy making decorating decisions), and especially if you plan to leave color coordinated window treatments, you might leave more definite colors in place understanding that a potential buyer with no imagination might be put off by them and not think to request a “redecorating allowance” in a contract offer. Still, beautiful decorating which is not neutral undeniably attracts some buyers.

8. If your carpet is in poor condition, but you cannot afford to replace it, get several neutral samples in a mid-price range from a local carpet store, spread them on the floor, and add a note stating that you will be glad to provide a carpet allowance from the proceeds of settlement.

9. Dark homes show badly. Make sure lamps are on and lampshades are straight with the seams toward a wall. Make sure there is as much natural light as possible; have curtains, shades and blinds open.

Buyers are looking for a home they can see themselves living in. Follow the above tips and you will position your home to sell quickly.

Raynor James is with fsboamerica.org fsboamerica.org - providing FSBO homes for sale by owner. Visit our “sell my home” page at fsboamerica.org/seller.cfm fsboamerica.org/seller.cfm to list and sell your home for free for one month. Visit fsboamerica.org/buyer.cfm fsboamerica.org/buyer.cfm to see homes for sale by owner.

These real questions on new home starts and interest rates on real estate are answered by a US Master Builder and myself after receiving them from readers of my e-book,
“Residential Development Made Easy.”

Question 1.

What is the your forecast for home starts in the US for the next 12 months? 24 months?

Master Builder & Developer’s Reply:

This depends upon where you are. New home starts are excellent for Florida, Texas, and Arizona.

What most people don’t appreciate is that there is always growth in new homes. Cities grow in spurts, but there is also controlled growth. As one part of an area dies from old age it is revitalized and redeveloped.

So remember national growth statistics on new home starts are not much use to you unless you have a national business. The best advice we can give you is to “read” market data - census data etc.

Personally I have kept average residential dollar sales figures on homes for my City since 1974. At first it might appear to be a lot of work, but after you have your base, say 20 years worth of data, you only have to add one figure a year.

My City’s growth dollar sales value shows a 150% increase every 8 years. It is valuable to know where you are in the cycle - so it is worth doing the figures.

By that I mean, if you sold a property in the seventh year of the cycle, you’d make about 90% profit on your ‘buy-price’ but by waiting one more year it becomes 150%.

Stats are important, so do the homework. After all, all you got to do is get some figures
from an office for FREE and put them on an spreadsheet.

Question 2.

How do changes in interest rates affect sales of first time new home, middle class, and estate housing? Aside from the obvious, any interesting statistics or trends?

Master Builder & Developer’s Reply:

I’ll tell you a secret. The answer is that it doesn’t affect the new home part of the housing industry. If you watch the news when you hear about the housing industry in a slump or slowing down — Greenspan in on the news within a few days adjusting the interest rates to
ensure continued growth.

The building industry is the engine of our economy. If a country has had an economic slump and the Government wants to kick it off again, they start by ‘flicking on’ on the new home building industry switch.

It is the quickest to react; quickest to increase employment figures which pays for groceries, mortgages, school fees - you name it. Two economists arguing will give you three opinions, but they all agree on the ‘economic multiplier effect.’

That means that a $100 million project has an economic effect in the community of about $230 million. That is the steel in the building pays the company who made it, who then pays the wages of the workers, who then pays the grocer who then pays his staff, who then pay their rent, car payments and so on - it goes round and round.

What does affect the new home industry is lower wages and our jobs going to foreign countries. If people can’t afford a home, then they don’t buy and that directly effects the housing industry.

Question 3.

What progressive processes are being implemented for more environmentally friendly and better insulated new homes? All concrete framing? (no wood) Other unique materials and
approaches?

Master Builder & Developer’s Reply:

As a Master Builder, we use the current technology in building material. Concrete is outdated and has many environment problems. Our new homes are the most environmentally friendly homes that you’ll ever have built.

No wood is used except for molding and cabinets.

But the problem is convincing the buyer. We have access to material that replaces wood products, that are made up of recycled material that is vastly superior and looks more real than wood.

We have access to luxurious carpet that is made from recycled plastic soda bottles. We have access to recycled paint that has no out gassing. Recycled roofs that have a 20 year warranty. Our homes have an R-70 rating. Meaning less energy required for heating and cooling.

There are the ‘traditionalists’ and there are the ‘innovative clients’ - all we can do is educate and then the clients will benefit and so will the environment.

Question 4.

What changes are being implemented to improve customer service to new home buyers? (My daughter is buying a Hovnanian home for a fraction of my last home purchase, yet she
is getting a weekly status call from her new home sales representative!)

Master Builder & Developer’s Reply:

This depends upon your builder. In our case we provide our buyers, investors and developers with daily video updates. They log into their account on our site and the site supervisor
walks them through what was completed for that day and what is scheduled for the next day.

Our clients have video documentation on their property. We also provide service after the sale. If three years after the purchase, the neighbor throws a ball through the window or
the cat destroys the carpet — all the buyer has to do is log on to their account.

They tell us what needs to be replaced or repaired and in what room and we can do it almost immediately, because everything is in our database about the home.

Author & $1.2 Billion Developer, Colm Dillon, Has Written The Best Selling ‘How-To’ E-book,
“Residential Development Made Easy,” With Readers In All States Of The USA, Canada, Australia,
New Zealand, UK, Ireland and 79 Other Countries Of His Independent Web Site,
realestatedevelopmentcoach.com/ez realestatedevelopmentcoach.com/ez

The most severe or unfavorable conditions are pretty clear: the homes are vacant and usually have no utilities turned on. All sales are “as-is” although yopu can get a home inspection and withdraw from the contract (owner-occupants only).

All sales are “as-is” although yopu can get a home inspection and withdraw from the contract (owner-occupants only).

However, there are great opportunities for getting a bargain or below market property. Building “sweat equity” is more likely. The main advantage to this is that you could resell the property in a shorter period of time and still expect to make a profit on the transaction.

Depending on property values in your area, it could be a great deal.

There are many different loan programs available to help you get the property inspected and repaired. You should be looking for one loan and one settlement for this purpose. There are FHA 203k loan programs as well as some Fannie Mae programs. A good real estate agent can refer you to lenders who have experience with these programs.

If you are not afraid to make some of the repairs. Get a professional inspection, work with an experienced real estate agent and lender. We are very experienced in this area and believe strongly that some of the best homeownership opportunities exist in HUD and VA foreclosures.

A good real estate agent can help you determine what is affordable for you in your area. I’ll be happy to help you or refer you to someone in your area.

If done properly, you could build thousands of dollars in equity in a very short period of time.

There are Hud Homes in all price ranges and all markets. Check out our website for FREE access to the HUD and VA sites as well as other foreclosure sites.

Carlos Sagastume a real estate investor
baltimorehudhomes.com baltimorehudhomes.com

Home equity loans are an inexpensive way to borrow a large chunk of money since interest rates tend to be low, and, in many cases, the interest you pay is tax deductible. If you need the money super fast, there are ways to expedite the application process, such as:

CHOOSE AN ONLINE LENDER

Online Home Equity Loan lenders often have a
speedier application process than regular brick-and-mortar lenders. Their
application is typically available online for you to fill out, so you can do it
immediately–no waiting for someone to mail or fax paperwork. Moreover, since
the form is available on the website, you can fill it out any time of day,
whenever it’s most convenient for you. And since most of the work is done
online, you don’t have to worry about playing “phone tag” or making an
appointment at the lender’s office.

GATHER UP THE PAPERWORK

Almost all Home Equity Loan lenders will require
certain documentation and paperwork. To speed up the process, make sure you have
everything handy before you submit the application and speak with a loan
officer. Expect to provide proof of employment, income information, debt
balances and payments, and information about the value of both your home and
your current mortgage loan. Your lender will also need to check your credit
report and other background information, so be prepared to give him your social
security number and other identifying information.

BE AVAILABLE

Even online home equity loan lenders will want to chat with
you on the phone or email a few documents to you. It helps to make sure you have
a working email address that you check regularly, a daytime phone number, and
even a fax number. If you don’t have a fax through work, consider signing up for
a fax service online. It’s often free to receive faxes through a web based
service.

You don’t have to wait months before you have the cash in your hands when you
apply for a Home Equity Loan. Instead, follow these tips and chances are you’ll
get approved for a Home Equity Loan in a matter of days, and have access to the
money in less than a few weeks.

For more information on obtaining a
abcloanguide.com/homeequityloan.shtml fast home equity loan
or a abcloanguide.com/3mostexpensivehomeequityloanmistakes.shtml home equity loan
online, visit Carrie Reeder’s website, ABC Loan Guide.

First you must emotionally detach yourself from your home. With any luck it will not be yours for very long! What you are living in is about to become just another piece of real estate available for sale. That being said, take inventory of your necessary possessions and begin packing away everything that you can live without.

Strive to create the most neutral environment possible. This will attract men and women alike. Prospective buyers will more easily visualize their own furnishings in the property if it is not cluttered with your belongings.

Remove excess furniture and instantly have a larger room! This is especially important for small spaces. If you have a sofa, love seat and chair consider removing one piece. Many rooms have just two upholstered pieces and look beautiful. The same rules apply to the bedroom. If you have access to a baby crib why not turn the smallest bedroom into a nursery? Add only a rocking chair and the space will appear enormous!

Wallpaper is typically a huge turnoff to home buyers. Everyone has different taste in decor and leaving paper on the walls will limit your buying audience. All they see is work as they will become responsible for removing it. Consider taking the paper down yourself or hire the job done. The small investment now will become a huge payoff later.

Color plays an important role in the home buying market. Stay away from bright colors when selling. That neon yellow bedroom MUST go! The hot trends today are the darker creams and taupes. A fresh coat of paint will go a long way in freshening your walls and buyers will feel your property is move-in ready!

Clear the counter tops of all small appliances but replace with living plants and a couple of strong scented candles. The benefit is twofold. The counter tops appear more spacious and the scented candles (I recommend apple pie or cookie dough) leave a nice aroma in the room.

These are general tips that apply to every home. You may want to contact a Staging professional to address your specific needs. Remember a small investment now could tremendously increase your property value!

Julie Rieman is an accomplished instructor in the arts faux painting and interior redesign. She offers two and four day classroom or online interior redesign training. If you live in the Twin Cities area, you can invite Julie into your home for a personalized consultation.

For more information about any of her decorating services and training opportunities please visit: allaboutredesign.com allaboutredesign.com allaboutwalls.net allabout-walls.com

Finally you found the property you want to buy. So it’s time to write up an offer. But be careful an offer, once accepted, becomes a legal contract. When writing the offer there is often one area of that contract which is open to concerns so disagreements is what constitutes a fixture (which is expected to remain in the house when the present owners vacate) versus what is their personal property or chattel (which can, or should be, removed).

Essentially, anything that can be picked up and moved off the property is personal property and the owners are entitled to remove it. There may be items on the property that you wish to make sure the sellers remove (such as piles of lumber or old vehicles). Make sure you specifically mention in your offer that these items are to be removed.

Contrary to chattels, fixtures are those objects that are permanently attached. They are the objects that are the most open to disagreement. Make sure that your offer specifically mentions items such as appliances, hot tub, lighting fixtures and even drapes if you desire to keep them. You may also wish to include such items as a ride-on lawnmower, snow blower or other equipment that you might need to maintain the property. The sellers may or may not be willing to let these items be included in the selling price.

Keep in mind “nothing ventured, nothing gained”. The sellers may be planning to move somewhere where they will have no use for that equipment. They also may be happier to accept the dollar amount of your offer if they have a few items they don’t want to keep.

Check Out Real Estate More Articles:

lasvegasbuyeragent.com/articles/northeast-real-estate-agents.html northeast real estate agents ,
lasvegasbuyeragent.com/articles/wallington-real-estate.html wallington nj real estate 2-family ,
lasvegasbuyeragent.com/articles/wood-ridge-real-estate.html wood-ridge nj real estate 2-family

The commission paid to the Real Estate agent is a serious amount of money and a concern in any transaction involving the sell of Real Estate. Where did this six percent commission come from?

The idea of a 6% Real Estate commission being paid to the agent originated during the 1940’s when local Real Estate Boards openly engaged in price fixing to establish a standard rate. This process was an out and out case of an unfair practice, but the 1940’s was a time when the attention of the country was directed to some serious external matters and the idea took hold and spread quickly through the industry.

In the early 1950’s, the Supreme Court ruled that an established 6% commission was illegal. Rather than open up commissions to a more competitive and free market system, the Real Estate Boards merely shifted gears with a bit of fancy linguistic footwork and began to call the 6% commission the “suggested” amount. During the 1950’s and 1960’s, they managed to get away with this practice without much trouble as the majority of real estate agents complied with the suggestion.

In the 1970’s lawsuits brought against the Real Estate Boards effectively put the skids on this practice. The Real Estate agent’s commissions were opened up to competition without the Boards either being able to mandate or even suggest 6% as the carved into stone rate. However, the rate did not alter very much in the years following these court cases. Although the rate may not have been carved into stone, it was pretty much established in the Real Estate market as a standard.

Generally, competitive markets benefit consumers. As long as someone is willing to offer a discounted rate, it would seem that the consumer stood to save money. However, the proponents of a standard 6% rate commission point to such things as health care to argue that the standard rate may actually be helping the consumer by holding the commission down to 6% rather than propping it up to that level. Although the cost of health care is not regulated, the general trend has been straight up off the charts.

Real Estate agents would be quick to point out that if you were to take a close look at just about any service or product being offered or sold in the 1940’s, you would find a very serious increase in cost to the consumer. Except for Real Estate commissions which are still right around 6%. The amount being paid to the agents has increased greatly merely because the value of the property being sold has increased. Today, the internet has been responsible for a few chips in the rock of the 6% commission by offering some straight fee or reduced rate services that allow the sellers to list their own properties. The results are still mixed and the 6% commission is still the standard.

Raynor James is with FSBOAmerica.org - get a free one month listing when you sell fsboamerica.org FSBO homes for sale by owner.

A mortgage lead is an exciting thing because you are filled with the thought of buying a house. Mortgage leads are listings of information dealing with how much a house will be. Although the thought of a mortgage lead can be kind of scary, the time when you are looking for a mortgage is one of the most exciting times of your life. Mortgage leads can be found through many different sources, but first you must look at your financial situation before even beginning the thought process of buying a house and looking for a mortgage.

A mortgage lead cannot be looked for until you sit and write down all of the expenses you have. Then you need to write down all of the money that is coming in. This will help you when you search for mortgage leads. After that you need to write down what your idea of a mortgage would look like and what kind of house you are looking for. A mortgage lead will be one of the last steps you do prior to actually purchasing and looking at housing. The important thing to remember when looking for mortgage leads is that you need to look for what you want, rather than settling for what a real estate agent wants.

Mortgage leads are also something that is crucial in letting you see your options. So many people buy without have ever gotten a mortgage lead. Sometimes it is easier to buy blindly without looking at the different mortgage leads that you have. A mortgage lead will help you narrow down your search and be aware of what you are looking for. Sometimes people need to make sure that they are aware of their spending habits and budget before even proceeding to look for mortgage leads. Therefore, it is good do the research of the kind of mortgage you want before even taking the steps to look for a lead.

The last thing with mortgage leads is to make sure you are dealing with honest, forthright people who will tell it like it is. Too many people get scammed when it comes to a mortgage lead because they have no idea what they are getting themselves into. Then it is really easy for them to be talked into doing things that they never wanted to do in the first place. The thing to be emphasized is to live in knowledge rather than ignorance when you are doing anything that affects your life in a big way.

For more information, visit:
christianet.com/articles/ christianet.com/articles/
christianet.com/ christianet.com/

Real Estate Deal Checklist

When looking to purchase a Rehab property you have to understand it is an “AS IS ” proposition. I have to decide what works and what doesn’t work. What I want to update. And what I think I can save. This is a critical stage of the process. A lot of new investors make a huge mistake here. You think ; this could be a model house, my dream house, its going to be perfect.

Don’t DO IT!

You have to make the house marketable with the least amount of effort. Use a very critical eye, fix what has to be fixed, save what you can. You would be surprised at what you can save. I know a some people are perfectionist, and that can get you in real trouble. I’m not saying do a bad job, when we finish a house the Realtor always comments on how nice our houses are to show. BUT.. If we can clean and paint a ceiling fan and make it look good, we do! We bought a house were the basement had flooded and the electric furnace was under water for a couple of months. I had a furnace guy look at it, and he said it would have to be replaced. I don’t know anything about electric furnaces, but I started replacing parts and cleaning it up. Six hour and $200 later it was running fine. What the furnace guy really meant was ” I don’t want to work on it, I want to sell you a new one”
Use this list to stay organized. You might want to attach a photo of each house to the form. Many times I have reexamined a deal, and it is really nice to be able to look thru my file at a house I was looking at three months ago.

steves-guide-to-real-estate-investing.com steves-guide-to-real-estate-investing.com

Although owning a business can be one of the most profitable situations for people, it can also be one of the most difficult of situations to prove to a lender when you want to secure a mortgage. Yet, you can definitely qualify for a mortgage loan if you are self employed, when you follow these tips.

Tips For Approval For The Self Employed

1. Have the best credit that you can have. Credit will be one of the determining factors in this type of loan and therefore you should make sure that your credit looks as good as it can. Pay down debts that you have, make payments monthly and establish good credit history with several lenders.

2. Make a down payment. Some of the best loans for those that are self employed start with a significant down payment. If you can make a down payment at 25 percent or more, you will have little trouble getting the right loan for you.
3. Consider incorporating. By becoming a corporation, the liabilities of your business rest with the business, not with you personally. You also can say that you are an employee then with a W-2 which will help in securing a mortgage loan.

Provide Proof Of Income

Take with you your tax information and make sure to tell lenders that you can prove that you have income over the long term. For example, if you have been in business for five years and each year you have made the same or more than the last, this can help to show lenders that your income is stable even though you are self employed. Having records of this is helpful.

Having references or a spouse that works with their own income can also be beneficial means of securing a mortgage loan for the self employed. Chances are good that you can secure these loans when you have proven that your income is stable.

mortgagesanity.com/2007/02/06/mtg-lenders/ Recommended Mortgage Lenders for Self-Employed Borrowers - We maintain a list of recommended mortgage companies online and update the list regularly.

mortgagesanity.com/2007/02/13/creative-mortgage-financing-alternative-ways-to-finance-real-estate/ List of Creative Financing Alternatives- Read this article to learn some creative techniques to finance your new home.