A foreclosure auction is held when banks repossess houses and want to sell properties to clear mortgage loans from their books. Bidding on properties can be intimidating for individuals who have never attended a public auction. Taking time to understand the process can ensure buyers obtain the best deal.
Foreclosure auction procedures can vary, so it is best to become familiar with auctioneer procedures and policies prior to placing bids. Some auctions require bidders to pre-register and pay an entry fee. Others require down payments to hold the property after the winning bid has been placed. Most require payment in full within 24 hours of bid acceptance.
Public auctions are held in a variety of locations. Some take place at courthouses, while others are held at the property being auctioned. When banks sell multiple properties at once they often host auctions at public venues such as county fairgrounds or business centers.
Foreclosure auctions are generally listed in the real estate Classifieds section of local newspapers. When auctions encompass multiple properties, the bank or auctioneer might take out TV and radio ads. Individuals can also contact their states' county Trustee or real estate commission for a list of upcoming foreclosure sales.
Auctioned real estate prices are derived from the outstanding first mortgage loan balance against the repossessed property. If more than one mortgage exists, or if creditor or tax liens are attached, the buyer is responsible for settling outstanding debt. Bidders are provided with property prices prior to the auction and required to submit bids equal to or greater than the listing price.
Buyers should conduct due diligence to determine the current market value of foreclosed property prior to attending the auction. Buyers can obtain comparable sales reports from real estate websites such as RealtyTrac or Realtor.com.
It is also a good idea to search public records pertaining to the property to determine if liens or judgments are attached. Property records are stored at the local county recorder's office. Many counties offer public records via their website at no cost or a nominal fee.
Once the information is gathered, buyers should establish a ceiling price for the maximum bid on all properties they are interested in buying. It is easy to get caught-up in auction frenzy and bid more than should be paid.
After winning a bid, buyers must follow the procedures outlined by the auctioneer. Buyers must obtain the necessary documents to commence with final payment and transfer property records. The amount of time required to transfer real estate depends on the state where the foreclosure is located.
In some states, ownership can transfer within a matter of days, while others require the sale to be confirmed through the courts. It is important to determine if a redemption period is offered which allows foreclosed homeowners to buy the property back from the individual who placed the winning bid at auction. Typically, redemption must occur within 30 days.
Buying houses through foreclosure auction can be rewarding and profitable, as long as buyers understand how the process works. It is a good idea to attend a few auctions and become familiar with the jargon, bidding process, and auctioneer procedures. It is also a good idea to consult with real estate professionals such as a lawyer or foreclosure specialist to determine if buying properties through auctions is the best choice.
Simon Volkov is a California real estate investor who specializes in buying and selling foreclosure real estate. He shares insights about buying properties at foreclosure auction, investing in bank owned homes, and provides current real estate market information via his website at www.SimonVolkov.com.
Article Source: http://EzineArticles.com/?expert=Simon_Volkov
Tuesday, 31 August 2010
Monday, 30 August 2010
Real Estate Property Values - Ranked High
Rob Norquist, a real estate agent admits that Newport Beach is as active as it used to be, with some good record sales. He also agrees with the fact that a property, should never be considered deprecated, and as a seller, you should never give up and use the low end price. It is true that, during a certain period of time, depending on the real estate market, client's desire, real estate auctions, there may be moments when a property's price drops, but not forever.
Other cities such as, Huntington Beach, Costa Mesa, Irvine or Mission Viejo - are considered among other 25 cities as being the ones with the best real estate property values, with average values of $680,000 and more. The national average value in 2007 was $194,300.
However, some property values are based on subjective answers from residents living in a certain home, so the given numbers , and real estate evaluation may be hanging on a wishful thinking instead of a real appreciation . This is where real estate auctions come in picture, to inform potential clients about the property, and the investment possibilities, giving them a clear image of the real estate's worth.
Even though some buildings such as Orange County properties , dropped their values in 2007, but they recovered extremely well after. So this is another reason why as a seller, you should never fear if you observe a temporally value drop, because it is normal from time to time.
For instance, about 81% owners, sellers, agents, trusted in 2007 that their estate property values were over $1 million, against 75% in 2006. So things are for the best and it would appear that most of estate agents have finally understood what this business is really about. It takes a lot of patience and ability to maintain your property's value among top ones on real estate market.
But Norquist, trusts that many Newport Beach arguments are near the mark, sustaining that this city has survived the "housing slump" better than other locations. However, the unexpected surprise attacked more on sales, which he admits that they are on a falling edge right now, but there is still hope for better times.
Newport Beach is very well known for its highest-valued real estate properties in the U.S., being a perfect place for real estate business . It's location and proximity to the water, and the beach front view increase it's real estate value considerably. Auctions in this area are very interesting and those who are interested in real estate business domain should never miss them. You can learn a lot on such events.
Experienced real estate agents or even friends will surely advise you that as a buyer you are very likely to come across many real estate properties in foreclosure having perhaps no equity,being over priced . In such moments, lenders sometimes choose to accept a smaller amount than the initial.So you get in the negotiations process. As a hint, when you realize the over pricing phenomenon, you have to understand that this happens when the real estate agent , or seller is aware of the real estate property's value, and he tries his luck in a raising price. So watch out! The negotiation can become a difficult process especially when reasonable terms are not agreed by both sides: owner and buyer. Negotiations can occur privately or in public, where real estate auctions come in the picture. Of course, a real estate auction is safer and more trustful than a private one. Private negotiations occur especially when the agent is a close friend or relative to buyer's, and because of the friendly environment some details regarding even the real estate transaction may be skipped. So in situations like this be careful.
Even as a friend, for a real estate agent , money comes first, and friendship after. Of course, during such a negotiation, there can be all sort of problems, such as mortgage value, real estate market, all sort of official formalities, conflict of interests in a particular area etc. Moreover, time a very important issue when real estate auctions are involved. As a general rule, and as an advise for a potential buyer, negotiation process should not be extended on a long period of time, because, as I said before, in time, real estate properties drop their values, and the client's interest together with it. In this case, not only does the buyer loose, but the real estate agency as well. Why?Because if a property's value drops, the price must drop as well, if you ever want to sell it again. In this case the under priced phenomenon appears. This is why short sales are preferred. Many Realtors, and clients started using this strategy, because they faced the problem regarding their property's value.So they decided the selling process should not take too long.
Another important issue refers to the well known "acceleration clause" , which is an official word met in any mortgage document, meaning that the lender, after the real estate property is sold, can demand the payment of the remaining balance for the loan. Realtors can provide more information about this contractual right. If this clause is good or bad for a real estate transaction, it is hard to say, because it has its advantages and disadvantages. Buying a real estate property which has already a mortgage loan represents a pretty raised risk. Why? Because first of all, if the mortgage loan was contracted for many years, depending on the interest's rate, and marketplace evolution, you may come to pay the house's price 3 times more. However, if you have experience in monitoring the market place, and find a right moment when every interest's value drops, you could go for it. It's kind of a gambling in this business, and Realtors, or individual real estate agents know it best.
Realtors and real estate agents are here on the real estate market, to help clients understand how they can value their houses, what should they look for when trying to sell or buy a house, how to negotiate, and how to win a real estate transaction. Some may say that buying or selling a real estate property is easy, but the fact is that pricing a house is a very difficult process. Many real estate agents, brokers, have suffered many defeats before their first good business, so do not expect their job to be an easy one.
Unfortunately, a concerning price and sales gains of these past years have determined in many cases quitting the real estate business. Many real estate agents who have seen the future preferred to do something else than real estate business. The credit market is also in a critical position, as many Realtors have observed. Mortgage values are also a result of real estate market position right now. Real estate investors have diminished their participation number to real estate auctions, as a sign they have seen it too.
However, as we all know how media does it, you have to understand that reporters have latched onto these issues, focusing only on its negative effects, and they have succeeded in putting fear in anyone who is interested in real estate business. For more of this business go to http://www.modfind.com my real estate business specialized website.
Neguletu Octavian
Article Source: http://EzineArticles.com/?expert=Neguletu_Octavian
Other cities such as, Huntington Beach, Costa Mesa, Irvine or Mission Viejo - are considered among other 25 cities as being the ones with the best real estate property values, with average values of $680,000 and more. The national average value in 2007 was $194,300.
However, some property values are based on subjective answers from residents living in a certain home, so the given numbers , and real estate evaluation may be hanging on a wishful thinking instead of a real appreciation . This is where real estate auctions come in picture, to inform potential clients about the property, and the investment possibilities, giving them a clear image of the real estate's worth.
Even though some buildings such as Orange County properties , dropped their values in 2007, but they recovered extremely well after. So this is another reason why as a seller, you should never fear if you observe a temporally value drop, because it is normal from time to time.
For instance, about 81% owners, sellers, agents, trusted in 2007 that their estate property values were over $1 million, against 75% in 2006. So things are for the best and it would appear that most of estate agents have finally understood what this business is really about. It takes a lot of patience and ability to maintain your property's value among top ones on real estate market.
But Norquist, trusts that many Newport Beach arguments are near the mark, sustaining that this city has survived the "housing slump" better than other locations. However, the unexpected surprise attacked more on sales, which he admits that they are on a falling edge right now, but there is still hope for better times.
Newport Beach is very well known for its highest-valued real estate properties in the U.S., being a perfect place for real estate business . It's location and proximity to the water, and the beach front view increase it's real estate value considerably. Auctions in this area are very interesting and those who are interested in real estate business domain should never miss them. You can learn a lot on such events.
Experienced real estate agents or even friends will surely advise you that as a buyer you are very likely to come across many real estate properties in foreclosure having perhaps no equity,being over priced . In such moments, lenders sometimes choose to accept a smaller amount than the initial.So you get in the negotiations process. As a hint, when you realize the over pricing phenomenon, you have to understand that this happens when the real estate agent , or seller is aware of the real estate property's value, and he tries his luck in a raising price. So watch out! The negotiation can become a difficult process especially when reasonable terms are not agreed by both sides: owner and buyer. Negotiations can occur privately or in public, where real estate auctions come in the picture. Of course, a real estate auction is safer and more trustful than a private one. Private negotiations occur especially when the agent is a close friend or relative to buyer's, and because of the friendly environment some details regarding even the real estate transaction may be skipped. So in situations like this be careful.
Even as a friend, for a real estate agent , money comes first, and friendship after. Of course, during such a negotiation, there can be all sort of problems, such as mortgage value, real estate market, all sort of official formalities, conflict of interests in a particular area etc. Moreover, time a very important issue when real estate auctions are involved. As a general rule, and as an advise for a potential buyer, negotiation process should not be extended on a long period of time, because, as I said before, in time, real estate properties drop their values, and the client's interest together with it. In this case, not only does the buyer loose, but the real estate agency as well. Why?Because if a property's value drops, the price must drop as well, if you ever want to sell it again. In this case the under priced phenomenon appears. This is why short sales are preferred. Many Realtors, and clients started using this strategy, because they faced the problem regarding their property's value.So they decided the selling process should not take too long.
Another important issue refers to the well known "acceleration clause" , which is an official word met in any mortgage document, meaning that the lender, after the real estate property is sold, can demand the payment of the remaining balance for the loan. Realtors can provide more information about this contractual right. If this clause is good or bad for a real estate transaction, it is hard to say, because it has its advantages and disadvantages. Buying a real estate property which has already a mortgage loan represents a pretty raised risk. Why? Because first of all, if the mortgage loan was contracted for many years, depending on the interest's rate, and marketplace evolution, you may come to pay the house's price 3 times more. However, if you have experience in monitoring the market place, and find a right moment when every interest's value drops, you could go for it. It's kind of a gambling in this business, and Realtors, or individual real estate agents know it best.
Realtors and real estate agents are here on the real estate market, to help clients understand how they can value their houses, what should they look for when trying to sell or buy a house, how to negotiate, and how to win a real estate transaction. Some may say that buying or selling a real estate property is easy, but the fact is that pricing a house is a very difficult process. Many real estate agents, brokers, have suffered many defeats before their first good business, so do not expect their job to be an easy one.
Unfortunately, a concerning price and sales gains of these past years have determined in many cases quitting the real estate business. Many real estate agents who have seen the future preferred to do something else than real estate business. The credit market is also in a critical position, as many Realtors have observed. Mortgage values are also a result of real estate market position right now. Real estate investors have diminished their participation number to real estate auctions, as a sign they have seen it too.
However, as we all know how media does it, you have to understand that reporters have latched onto these issues, focusing only on its negative effects, and they have succeeded in putting fear in anyone who is interested in real estate business. For more of this business go to http://www.modfind.com my real estate business specialized website.
Neguletu Octavian
Article Source: http://EzineArticles.com/?expert=Neguletu_Octavian
Sunday, 29 August 2010
Online College Degree on Real Estate
For some instances, there are some individuals who want to acquire a college degree but just fail to have it as they don't have time and enough finances to go out for school anymore. These goes through several reasons particular to financial matters. When you go to school, you don't just consider about tuition fees. You also need to think about transportation expenses and rent expenses in case you are just renting a boarding house. Now, to give an ease to these problems, online programs are made available so that interested individuals could gain Bachelors Degree at their comfort.
One of the most selected courses is the Online College Degree Real Estate program that aims to provide a specialized study on Real-Estate. This program allows students understand terms and essential knowledge about the Real-Estate industry. It focuses mainly on basic appraisals, property management, mortgages and brokerage. The program also covers information and understanding on related fields such as financing and marketing. Students taking this program will be equipped with trainings and activities particular to cash flow analysis, commercial speculations, financial feasibility, real estate development and marketing as well as cost and income evaluation.
Now, what are the advantages of acquiring an Online College Degree Real Estate program? Technically, a completion of this program opens new and big opportunities on your professional career. Gaining license and certificates on this program could make you accountable on several firms such as real estate businesses, commercial banks, life insurance companies, loans and savings establishments, mortgage companies and government sectors. The knowledge and ideas learned from this program will be applicable and very helpful especially if you are planning to have an individual real estate business with you yourself as the self-reliant broker. The United States Bureau of Labor and Statistics has made an evaluation and has figured a 9% to 17% employment increase on the real estate field which is believed to go through 2014 and further. With the increasing demands of real estate brokers over the world, there will be much of opportunities for you on the career market. This is also one of the good reasons why a lot of individual get interested in acquiring this program.
There are a lot on universities, colleges and educational institutions that offers this type of online program. Popularity of a certain institution doesn't really matter. The most important thing to consider is the standards and quality of education that an institution or an online program offers to students.
For more great information about an online college degree, and online bachelor degrees visit our site today.
Article Source: http://EzineArticles.com/?expert=Elijah_James
One of the most selected courses is the Online College Degree Real Estate program that aims to provide a specialized study on Real-Estate. This program allows students understand terms and essential knowledge about the Real-Estate industry. It focuses mainly on basic appraisals, property management, mortgages and brokerage. The program also covers information and understanding on related fields such as financing and marketing. Students taking this program will be equipped with trainings and activities particular to cash flow analysis, commercial speculations, financial feasibility, real estate development and marketing as well as cost and income evaluation.
Now, what are the advantages of acquiring an Online College Degree Real Estate program? Technically, a completion of this program opens new and big opportunities on your professional career. Gaining license and certificates on this program could make you accountable on several firms such as real estate businesses, commercial banks, life insurance companies, loans and savings establishments, mortgage companies and government sectors. The knowledge and ideas learned from this program will be applicable and very helpful especially if you are planning to have an individual real estate business with you yourself as the self-reliant broker. The United States Bureau of Labor and Statistics has made an evaluation and has figured a 9% to 17% employment increase on the real estate field which is believed to go through 2014 and further. With the increasing demands of real estate brokers over the world, there will be much of opportunities for you on the career market. This is also one of the good reasons why a lot of individual get interested in acquiring this program.
There are a lot on universities, colleges and educational institutions that offers this type of online program. Popularity of a certain institution doesn't really matter. The most important thing to consider is the standards and quality of education that an institution or an online program offers to students.
For more great information about an online college degree, and online bachelor degrees visit our site today.
Article Source: http://EzineArticles.com/?expert=Elijah_James
Friday, 27 August 2010
Investing In Real Estate In Up And Down Markets
Some people who doubt that there is a right time to get started in real estate investing worry that there are too many people buying houses to find a deal. Competition is everywhere. If you can't understand - that in business, competition is normal - then real estate investing is not for you. Just take a look at the marketplace in companies such as Coke and Pepsi, Nike and Reebok, McDonalds and Burger King, and a million other services and products out in the marketplace. So if you see a lot of investors competing against you then know that it's a rewarding business to be in because you are not the only one that sees the potential for profit. Plus, there are more than enough deals to make everyone rich, in due time. At any given time there are hundreds of properties for sale in your own local market niches, enough for each investor looking for them.
Some investors know that events such as the September 11th tragedy, the huge number of job layoffs and the decline in the stock market will kill the economy, and anything they buy will go down in value. But, once again, this need not be the time to fold-up your tent and quit before you get started. In order to be successful in investing, learn how to make money in "up" and "down" markets. Have strategies to utilize in both "up" and "down" markets to survive when the economy is bad or thrive when the economy is booming. And if everyone else is forecasting "doom & gloom" it only clears out the competition as you have more market share to profit from, as this is a good thing!
Ask yourself: "When do I want to make money?" And the answer is usually right now!
Thus, go out and get your investing business going, right now! And not base your actions on what others are saying because the majority of the population is not rich, only those few who dare to take the right risks and take the necessary steps to be successful.
Stay in 'the Game,' and stay 'the Course' (persist)
One of the major disappointments of the conventional, 'rental real estate' approach is there's just no money in it NOW, only after a long period of ownership. There's not enough spread between the income realized from rent - versus - the expenses of mortgage payments and repairs for the investor to make any money today. You barely get by in the early years of your property's ownership. You've got to have other income to support your lifestyle. You can't just count on the rentals to support you.
Most likely, in the beginning you'll be supporting your properties with your other income if you bought via the traditional way. That's not too attractive. A lot of investors don't have the stomach to endure the rough and tough financial stresses of the rental business. Even more so - people just don't have the desire to hang in there to make it work, in due time. Thus, if you persist you will outpace your competition because they will no longer be in the business, and you will have "no competition". This business is a long-term commitment and over 80% of real estate investors - who have been in the business for that long, go on to become millionaires. What I'm saying to you is this: Stay the course, and you will beat most all of your competitors because you can ride the ups and downs of the market in the Real Estate Game, in due time.
Opportunity is everywhere
This is 'NOT' a common statement I hear from new investors. True, it may work differently in some markets than in others, but there are investors making money in every city (large or small, metro-area or the rural-areas), every day of the week. You have to learn your market: the rents, the trends, the local customs, the lenders, the title companies, etc.
Then, learn the techniques and adapt them to your market. One thing is for sure, everyone needs a roof to live under, either renting or owning. People need to live somewhere. So study your market carefully, because there are tons of opportunities in every marketplace. You just have to learn your market and be able to service your market accordingly. If you don't believe this, simply read the 'Success Stories' of all my students achieving financial independence and earning big profits using my field-tested and perfected real estate investing system.
Typically, the main argument of real estate "Nay-Sayers" is by associating real estate with toilets, bad tenants, property damages, tenant evictions, etc. - all the bad tasting things that may happen to an investor getting ready to jump into the real estate game.
For somebody who believes the only thing to real estate is getting a loan and buying a run-down duplex, in a bad part of town, entering the real estate game most certainly could turn into a major nightmare very quickly. However, an individual open to possibilities and who is willing to learn various techniques and strategies - will very quickly discover that's this methodology is not the most profitable way to be transacting real estate deals.
A True Wealth Builder
Well, if you shudder at the very thought of spending your nights and weekends unstopping troubled toilets, painting scarred up walls, and pacifying angry/upset tenants, you are in good company. I have no interest in dealing with ill-affecting and time consuming renter-problems or their negative attitudes. When you follow a systematic approach to investing, you won't have to deal with negative outcomes!! There are other creative ways to manage properties that involve no hassles and no headaches whatsoever, such programs exist in our "Automated Management System" which take away those ownership nightmares.
Much more profitable strategies exist if you are open to 'non-traditional' ways of investing in real estate. For example, in our System approach, there are "Rent Credits" used to maximize your time, while minimizing your overall risks, while creating positive cash flow versus, living with negative cash flow and tenant-troubles. There is a better way!! Your properties will be beautifully managed and maintained. Your Tenant-Buyers will be happy, you will pocket plenty of positive cash flow and you'll be able to spend your free time locating additional real estate investments, doing the things you love and have passion for doing, which is the very point of becoming a professional real estate investor in the first place!!
If you really are serious about real estate investing and do extensive research into the real estate business, constantly learning and improving your knowledge level you will realize that your risks are minimal when compared to other business models.
If you talk to any knowledgeable real estate investor and compare the cost of starting a real estate investing company versus some other type of business, you'll see that a real estate business has far less risks. I like to be upfront with you that you will need some marketing dollars at the least to launch your real estate business. You also need to have a long term vision of this venture and at least give it at least a good 6-12 months to make it work. Otherwise, your money (marketing budget) and time will be a waste.
I know this but most people don't know that it takes at least some money initially to make money as a real estate investor. I don't mean to scare anyone away but let's compare a real estate investing business to a restaurant/carryout business. I know these types of businesses very well because relatives of mine own restaurants/carryouts, so even though I never owned a restaurant, my relatives have taught me the inner workings of that business and what it takes to sustain it to be profitable.
First, for a regular restaurant it takes $30K in gross sales just to break even each month. And this does not include the 15 hour days, and six days per week, and the initial investment of $120K down payment with great credit for a bank to even lend you the money needed to open it. You also have to have years of knowledge and experience before you invest your life savings to start a restaurant business. Then, it usually takes about 1-3 years until the profits really come in, thus, this is only if you can survive to stay in business that long. My father-in-law is currently running a carryout and he has had over seventeen years experience and he tells me how fed up he is with the restaurant business. That is why he's also getting started as a real estate investor and he's asked me to invest some of his money into our rehab properties. He sees the huge rewards and minimal risk involved in real estate compared to his restaurant business or other businesses he has been in. And he is seriously considering selling his business to do real estate investing full-time.
When you compare risks in real estate investing versus investing in other business avenues and/or endeavors, as you can come to your own conclusion: real estate investing is the 'Best Game' in town, when it comes to generating great wealth, while achieving your American Dream for financial independence.
Real estate investing has cycles just like any other business
The stock market has it's cycles. We experienced that after the September 11th Tragedy. Only less than two years prior, we saw a peak in the stock market with high tech stocks soaring and making stock market investors 'paper rich.' The stock market has it's 'ups' and it's 'downs.'
Modern real estate thrives on doing things smarter, wiser, strategically - not harder, more time consuming, with profit-eating outcomes. At the end of the day, the key to success is to focus on being a 'great entrepreneur.' I asked an experience investor (he owned about a quarter of Blacksburg, Virginia) what his specialty was in real estate investing and his response was not that he was good at Lease Options, Wholesaling, Short Sales, REOs, Rehabs, Notes, Residential, Land Developments, or Commercial real estate. But he said he was an 'expert at making money.' We both laughed at that but I will never forget that conversation. You need to know about the marketplace and technical factors involved in a deal, but your main duty whenever you are investing is always to make money. Thus, at the end of the day, your job is to make money in 'up' as well as 'down' markets. And if you focus on being a 'great entrepreneur,' you'll be able to make money with many techniques, strategies, and skill sets to be successful in any market.
Minh is formally trained as a financial planning strategist for small businesses and individuals within the Virginia, Maryland, and Washington DC areas; Minh is also recognized as a real estate investment lecturer on the topics of creative real estate investing. He is the author of a Best-Selling Course, "Turnkey Profits Using Lease Purchase and Other Creative Investing Techniques." Minh is also a co-author of a national best seller: "Mission Possible" along side Stephen Covey (author of 'Seven Habits of Highly Effective People") and Brian Tracey (international top ranked motivational speaker). He is also an active member of three real estate investing associations in the Greater Metro Washington DC areas.
http://www.guaranteeprofits.com
Article Source: http://EzineArticles.com/?expert=Minh_Pham
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MLA Style Citation:
Pham, Minh "Investing In Real Estate In Up And Down Markets." Investing In Real Estate In Up And Down Markets. 11 Jan. 2008 EzineArticles.com. 27 Aug. 2010.
APA Style Citation:
Pham, M. (2008, January 11). Investing In Real Estate In Up And Down Markets. Retrieved August 27, 2010, from http://ezinearticles.com/?Investing-In-Real-Estate-In-Up-And-Down-Markets&id=923040
Chicago Style Citation:
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Real Estate Property
Some investors know that events such as the September 11th tragedy, the huge number of job layoffs and the decline in the stock market will kill the economy, and anything they buy will go down in value. But, once again, this need not be the time to fold-up your tent and quit before you get started. In order to be successful in investing, learn how to make money in "up" and "down" markets. Have strategies to utilize in both "up" and "down" markets to survive when the economy is bad or thrive when the economy is booming. And if everyone else is forecasting "doom & gloom" it only clears out the competition as you have more market share to profit from, as this is a good thing!
Ask yourself: "When do I want to make money?" And the answer is usually right now!
Thus, go out and get your investing business going, right now! And not base your actions on what others are saying because the majority of the population is not rich, only those few who dare to take the right risks and take the necessary steps to be successful.
Stay in 'the Game,' and stay 'the Course' (persist)
One of the major disappointments of the conventional, 'rental real estate' approach is there's just no money in it NOW, only after a long period of ownership. There's not enough spread between the income realized from rent - versus - the expenses of mortgage payments and repairs for the investor to make any money today. You barely get by in the early years of your property's ownership. You've got to have other income to support your lifestyle. You can't just count on the rentals to support you.
Most likely, in the beginning you'll be supporting your properties with your other income if you bought via the traditional way. That's not too attractive. A lot of investors don't have the stomach to endure the rough and tough financial stresses of the rental business. Even more so - people just don't have the desire to hang in there to make it work, in due time. Thus, if you persist you will outpace your competition because they will no longer be in the business, and you will have "no competition". This business is a long-term commitment and over 80% of real estate investors - who have been in the business for that long, go on to become millionaires. What I'm saying to you is this: Stay the course, and you will beat most all of your competitors because you can ride the ups and downs of the market in the Real Estate Game, in due time.
Opportunity is everywhere
This is 'NOT' a common statement I hear from new investors. True, it may work differently in some markets than in others, but there are investors making money in every city (large or small, metro-area or the rural-areas), every day of the week. You have to learn your market: the rents, the trends, the local customs, the lenders, the title companies, etc.
Then, learn the techniques and adapt them to your market. One thing is for sure, everyone needs a roof to live under, either renting or owning. People need to live somewhere. So study your market carefully, because there are tons of opportunities in every marketplace. You just have to learn your market and be able to service your market accordingly. If you don't believe this, simply read the 'Success Stories' of all my students achieving financial independence and earning big profits using my field-tested and perfected real estate investing system.
Typically, the main argument of real estate "Nay-Sayers" is by associating real estate with toilets, bad tenants, property damages, tenant evictions, etc. - all the bad tasting things that may happen to an investor getting ready to jump into the real estate game.
For somebody who believes the only thing to real estate is getting a loan and buying a run-down duplex, in a bad part of town, entering the real estate game most certainly could turn into a major nightmare very quickly. However, an individual open to possibilities and who is willing to learn various techniques and strategies - will very quickly discover that's this methodology is not the most profitable way to be transacting real estate deals.
A True Wealth Builder
Well, if you shudder at the very thought of spending your nights and weekends unstopping troubled toilets, painting scarred up walls, and pacifying angry/upset tenants, you are in good company. I have no interest in dealing with ill-affecting and time consuming renter-problems or their negative attitudes. When you follow a systematic approach to investing, you won't have to deal with negative outcomes!! There are other creative ways to manage properties that involve no hassles and no headaches whatsoever, such programs exist in our "Automated Management System" which take away those ownership nightmares.
Much more profitable strategies exist if you are open to 'non-traditional' ways of investing in real estate. For example, in our System approach, there are "Rent Credits" used to maximize your time, while minimizing your overall risks, while creating positive cash flow versus, living with negative cash flow and tenant-troubles. There is a better way!! Your properties will be beautifully managed and maintained. Your Tenant-Buyers will be happy, you will pocket plenty of positive cash flow and you'll be able to spend your free time locating additional real estate investments, doing the things you love and have passion for doing, which is the very point of becoming a professional real estate investor in the first place!!
If you really are serious about real estate investing and do extensive research into the real estate business, constantly learning and improving your knowledge level you will realize that your risks are minimal when compared to other business models.
If you talk to any knowledgeable real estate investor and compare the cost of starting a real estate investing company versus some other type of business, you'll see that a real estate business has far less risks. I like to be upfront with you that you will need some marketing dollars at the least to launch your real estate business. You also need to have a long term vision of this venture and at least give it at least a good 6-12 months to make it work. Otherwise, your money (marketing budget) and time will be a waste.
I know this but most people don't know that it takes at least some money initially to make money as a real estate investor. I don't mean to scare anyone away but let's compare a real estate investing business to a restaurant/carryout business. I know these types of businesses very well because relatives of mine own restaurants/carryouts, so even though I never owned a restaurant, my relatives have taught me the inner workings of that business and what it takes to sustain it to be profitable.
First, for a regular restaurant it takes $30K in gross sales just to break even each month. And this does not include the 15 hour days, and six days per week, and the initial investment of $120K down payment with great credit for a bank to even lend you the money needed to open it. You also have to have years of knowledge and experience before you invest your life savings to start a restaurant business. Then, it usually takes about 1-3 years until the profits really come in, thus, this is only if you can survive to stay in business that long. My father-in-law is currently running a carryout and he has had over seventeen years experience and he tells me how fed up he is with the restaurant business. That is why he's also getting started as a real estate investor and he's asked me to invest some of his money into our rehab properties. He sees the huge rewards and minimal risk involved in real estate compared to his restaurant business or other businesses he has been in. And he is seriously considering selling his business to do real estate investing full-time.
When you compare risks in real estate investing versus investing in other business avenues and/or endeavors, as you can come to your own conclusion: real estate investing is the 'Best Game' in town, when it comes to generating great wealth, while achieving your American Dream for financial independence.
Real estate investing has cycles just like any other business
The stock market has it's cycles. We experienced that after the September 11th Tragedy. Only less than two years prior, we saw a peak in the stock market with high tech stocks soaring and making stock market investors 'paper rich.' The stock market has it's 'ups' and it's 'downs.'
Modern real estate thrives on doing things smarter, wiser, strategically - not harder, more time consuming, with profit-eating outcomes. At the end of the day, the key to success is to focus on being a 'great entrepreneur.' I asked an experience investor (he owned about a quarter of Blacksburg, Virginia) what his specialty was in real estate investing and his response was not that he was good at Lease Options, Wholesaling, Short Sales, REOs, Rehabs, Notes, Residential, Land Developments, or Commercial real estate. But he said he was an 'expert at making money.' We both laughed at that but I will never forget that conversation. You need to know about the marketplace and technical factors involved in a deal, but your main duty whenever you are investing is always to make money. Thus, at the end of the day, your job is to make money in 'up' as well as 'down' markets. And if you focus on being a 'great entrepreneur,' you'll be able to make money with many techniques, strategies, and skill sets to be successful in any market.
Minh is formally trained as a financial planning strategist for small businesses and individuals within the Virginia, Maryland, and Washington DC areas; Minh is also recognized as a real estate investment lecturer on the topics of creative real estate investing. He is the author of a Best-Selling Course, "Turnkey Profits Using Lease Purchase and Other Creative Investing Techniques." Minh is also a co-author of a national best seller: "Mission Possible" along side Stephen Covey (author of 'Seven Habits of Highly Effective People") and Brian Tracey (international top ranked motivational speaker). He is also an active member of three real estate investing associations in the Greater Metro Washington DC areas.
http://www.guaranteeprofits.com
Article Source: http://EzineArticles.com/?expert=Minh_Pham
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MLA Style Citation:
Pham, Minh "Investing In Real Estate In Up And Down Markets." Investing In Real Estate In Up And Down Markets. 11 Jan. 2008 EzineArticles.com. 27 Aug. 2010
APA Style Citation:
Pham, M. (2008, January 11). Investing In Real Estate In Up And Down Markets. Retrieved August 27, 2010, from http://ezinearticles.com/?Investing-In-Real-Estate-In-Up-And-Down-Markets&id=923040
Chicago Style Citation:
Pham, Minh "Investing In Real Estate In Up And Down Markets." Investing In Real Estate In Up And Down Markets EzineArticles.com. http://ezinearticles.com/?Investing-In-Real-Estate-In-Up-And-Down-Markets&id=923040 CloseRecommend This Article
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Thursday, 26 August 2010
Reinventing Real Estate, Part 2: Online and Empowered Consumers Are Taking Charge and Paying Less
Demanding consumers
"Internet buyers tend to be better informed on market conditions and better prepared to act on the home they want when they start working with a realtor. Luckily for realtors, these changes don't necessarily hurt, as long as they are able to adjust to the new relationship and realize that the new-style buyers value speed and efficiency over guidance when finding a home."
- E-marketer, Internet Home Buyers Changing the House Rules
Thanks to the Internet and other technological innovations, more real estate information is freely available than ever before. As a result, consumers are demanding new choices, improved services, faster transactions and lower prices. According to a recent NAR survey, the number of sellers stating that they didn't want to pay a sales commission fee rose from 46 percent in 2003 to 61 percent in 2004. In 2004, 23 percent of Florida home sellers opted to sell independently without an agent, up from 14 percent in 2003 and nearly double the 14 percent national average, according to Planet Realtor.
And Web-enabled consumers are demanding a high digital IQ when working with real estate professionals. In addition to being well-versed on their own industry-specific technology, real estate professionals now are expected to utilize laptops, mobile phones, digital cameras, personal digital assistants and global positioning systems to keep pace with Internet buyers and sellers.
Downward pressure
"If consumers are going to do their own home-shopping online, they expect to save some money, just as they would for using the self-service lane. That's why they are susceptible to online discount brokers and the new affinity companies that are promoting lower commissions if only the consumers will use their agents. These business models promote the idea to consumers that they ought to be paying less money in commissions."
Realty Times Columnist Blanche Evans
Traditional real estate commissions, typically around six percent of a home's selling price, are facing downward pressure from consumers and competition. Some consumers claim traditional real estate commissions don't reflect:
- Today's home prices. Years ago, when median-priced homes sold for $25,000, real estate commissions were typically five percent, or $1,250. Today, with South Florida median home prices around $300,000, the cost of a six percent full-service real estate commission becomes $18,000. Some brokers even charge additional fees to cover administrative costs. When you consider that today's average homeowner sells a home every five to seven years, real estate commissions can dramatically impact your personal savings and net worth.
- Owner equity. When selling properties, most homeowners calculate the cost of selling as a portion of sales price, though the commissions are paid out of owner equity. (Equity is the difference between the value of your property and amount of mortgages owed.) Consider this example: You decide to sell a property for $250,000 in which you hold 10 percent equity, or $25,000. After paying a six percent commission of $15,000, you are left with $10,000 before any applicable closing costs. In this example, the $15,000 commission is six percent of the selling price, but 60 percent of the $25,000 equity.
- Services performed. Under today's commission structure, selling a $100,000 house at six percent typically costs $6,000, while selling a $500,000 house costs $30,000. Does selling the more expensive home really require five times more effort? Your cost is the same whether the agent spends one hour or 100 hours marketing your home. This is one reason many real estate consumers find fee-for-service real estate so appealing.
Developing alternatives
"Consumers want what they want, when they want it and will gravitate to the most cost-effective source to obtain it. Why? Because our "one-size-fits-all" approach to working with sellers and buyers is archaic and won't allow consumers to access various segments of help they need in a timely fashion. That's why .com Web start-ups are finding a receptive audience in real estate consumers and why for-sale-by-owners are burgeoning."
Julie Garton-Good, Author of "Real Estate a la Carte: Selecting the Services You Need, Paying What They're Worth"
Until recently, you have had few practical alternatives to the traditional full-service, full-commission real estate transaction with a broker. Most sellers paid a single commission fee for a full range of real estate services, whether they needed them or not. Now traditional real estate agencies face the challenge of identifying new services that have value to today's sophisticated online and empowered consumers.
One result is an "unbundling" of traditional one-size-fits-all real estate services for consumers who want more control over real estate transactions and their associated costs. If you're willing to take on some tasks traditionally performed by agents and brokers, you could receive lower transaction costs. You might benefit from the following emerging alternatives:
Fee-for-services
"Consumers want assistance from real estate professionals, but don't want to pay for it in the form of traditional commissions," says a la Carte real estate Pioneer Julie Garton-Good. Garton-Good has been preaching the fee-for-services gospel for more than 20 years. As the name implies, you can choose which tasks you feel comfortable performing and hire qualified real estate professionals to do the rest. Many traditional real estate brokerages are beginning to offer a more menu-based service plan. For example, you may not mind listing your home and holding open houses, but you may want assistance with contracts and closings.
One-stop shopping
In response to dwindling margins and the rising costs of technology and lead generation, some real estate companies are attempting to combine traditional and Web-based services to provide consumers a single source for all their real estate needs. One-stop shopping sites generally provide or partner with lenders, insurers, title companies, real estate attorneys and others to facilitate all aspects of buying and selling. In addition, some sites are adding home-improvement and related services to stay in touch with consumers between buying and selling transactions.
Web-based discounters
Although many Web-based real estate companies flamed out in the dotcom era, scores of new companies have emerged to take their place. By offering targeted services such as flat-fee MLS listings, buyer rebates and AVM tools, these sites are appealing to independent buyers and sellers who prefer to take a more active role in transactions. In addition to listings, some sites also offer how-to articles and advice for those who choose to go it alone.
Tradition + technology + turbulence = opportunities
So, given the trends, changes and ongoing industry evolution, what can independent buyers, sellers and investors expect in this new era of real estate?
o The Web and other technologies will continue to evolve and transform the $1.3 trillion real-estate industry. Technology will continue to reduce the time, expense and complexity of manual processes, and increasingly sophisticated search and valuation tools will play a more strategic role.
o Free and low-cost real estate resources will continue to be available and even multiply on the Web. In real estate, knowledge truly is power. Consumers will try to use their power to gain more control of the real estate process and subsequently expect to be compensated in the form of reduced and fee-for-service commissions.
o The role of traditional real estate brokerages will evolve as Web-enabled consumers become more knowledgeable. This likely will trigger some restructuring and consolidation of traditional brokerages, but will also drive the development of innovative new practices targeting online and empowered consumers. Real estate professionals will focus more on promoting their local knowledge and industry expertise, while consumers will perform some buying and selling tasks on their own.
o Traditional real estate commissions and profitability levels will continue to face downward pressure from various sources. The future will be profitable for brokerages that are able to extend their core expertise of neighborhood and industry knowledge into flexible new consumer-centric offerings.
o The traditional high-touch, full-service real estate agency is evolving, not disappearing. Real estate professionals who provide exceptional service and value to their customers will always be in demand.
You now can find more real estate knowledge, tools and resources on the Web than ever before, enabling you to buy and sell with increased confidence. For real estate professionals, reinventing the industry means making hard decisions, changing processes and managing new opportunities. But for consumers, reinvention in real estate is a winner, hands-down.
Learn more at http://www.homekeys.net
Charles Warnock is Marketing Communications Manager at Homexperts in Miami, Florida. Their Web site is http://www.homekeys.net. Charles writes frequently on real estate, finance, advertising and marketing communications.
Article Source: http://EzineArticles.com/?expert=Charles_Warnock
"Internet buyers tend to be better informed on market conditions and better prepared to act on the home they want when they start working with a realtor. Luckily for realtors, these changes don't necessarily hurt, as long as they are able to adjust to the new relationship and realize that the new-style buyers value speed and efficiency over guidance when finding a home."
- E-marketer, Internet Home Buyers Changing the House Rules
Thanks to the Internet and other technological innovations, more real estate information is freely available than ever before. As a result, consumers are demanding new choices, improved services, faster transactions and lower prices. According to a recent NAR survey, the number of sellers stating that they didn't want to pay a sales commission fee rose from 46 percent in 2003 to 61 percent in 2004. In 2004, 23 percent of Florida home sellers opted to sell independently without an agent, up from 14 percent in 2003 and nearly double the 14 percent national average, according to Planet Realtor.
And Web-enabled consumers are demanding a high digital IQ when working with real estate professionals. In addition to being well-versed on their own industry-specific technology, real estate professionals now are expected to utilize laptops, mobile phones, digital cameras, personal digital assistants and global positioning systems to keep pace with Internet buyers and sellers.
Downward pressure
"If consumers are going to do their own home-shopping online, they expect to save some money, just as they would for using the self-service lane. That's why they are susceptible to online discount brokers and the new affinity companies that are promoting lower commissions if only the consumers will use their agents. These business models promote the idea to consumers that they ought to be paying less money in commissions."
Realty Times Columnist Blanche Evans
Traditional real estate commissions, typically around six percent of a home's selling price, are facing downward pressure from consumers and competition. Some consumers claim traditional real estate commissions don't reflect:
- Today's home prices. Years ago, when median-priced homes sold for $25,000, real estate commissions were typically five percent, or $1,250. Today, with South Florida median home prices around $300,000, the cost of a six percent full-service real estate commission becomes $18,000. Some brokers even charge additional fees to cover administrative costs. When you consider that today's average homeowner sells a home every five to seven years, real estate commissions can dramatically impact your personal savings and net worth.
- Owner equity. When selling properties, most homeowners calculate the cost of selling as a portion of sales price, though the commissions are paid out of owner equity. (Equity is the difference between the value of your property and amount of mortgages owed.) Consider this example: You decide to sell a property for $250,000 in which you hold 10 percent equity, or $25,000. After paying a six percent commission of $15,000, you are left with $10,000 before any applicable closing costs. In this example, the $15,000 commission is six percent of the selling price, but 60 percent of the $25,000 equity.
- Services performed. Under today's commission structure, selling a $100,000 house at six percent typically costs $6,000, while selling a $500,000 house costs $30,000. Does selling the more expensive home really require five times more effort? Your cost is the same whether the agent spends one hour or 100 hours marketing your home. This is one reason many real estate consumers find fee-for-service real estate so appealing.
Developing alternatives
"Consumers want what they want, when they want it and will gravitate to the most cost-effective source to obtain it. Why? Because our "one-size-fits-all" approach to working with sellers and buyers is archaic and won't allow consumers to access various segments of help they need in a timely fashion. That's why .com Web start-ups are finding a receptive audience in real estate consumers and why for-sale-by-owners are burgeoning."
Julie Garton-Good, Author of "Real Estate a la Carte: Selecting the Services You Need, Paying What They're Worth"
Until recently, you have had few practical alternatives to the traditional full-service, full-commission real estate transaction with a broker. Most sellers paid a single commission fee for a full range of real estate services, whether they needed them or not. Now traditional real estate agencies face the challenge of identifying new services that have value to today's sophisticated online and empowered consumers.
One result is an "unbundling" of traditional one-size-fits-all real estate services for consumers who want more control over real estate transactions and their associated costs. If you're willing to take on some tasks traditionally performed by agents and brokers, you could receive lower transaction costs. You might benefit from the following emerging alternatives:
Fee-for-services
"Consumers want assistance from real estate professionals, but don't want to pay for it in the form of traditional commissions," says a la Carte real estate Pioneer Julie Garton-Good. Garton-Good has been preaching the fee-for-services gospel for more than 20 years. As the name implies, you can choose which tasks you feel comfortable performing and hire qualified real estate professionals to do the rest. Many traditional real estate brokerages are beginning to offer a more menu-based service plan. For example, you may not mind listing your home and holding open houses, but you may want assistance with contracts and closings.
One-stop shopping
In response to dwindling margins and the rising costs of technology and lead generation, some real estate companies are attempting to combine traditional and Web-based services to provide consumers a single source for all their real estate needs. One-stop shopping sites generally provide or partner with lenders, insurers, title companies, real estate attorneys and others to facilitate all aspects of buying and selling. In addition, some sites are adding home-improvement and related services to stay in touch with consumers between buying and selling transactions.
Web-based discounters
Although many Web-based real estate companies flamed out in the dotcom era, scores of new companies have emerged to take their place. By offering targeted services such as flat-fee MLS listings, buyer rebates and AVM tools, these sites are appealing to independent buyers and sellers who prefer to take a more active role in transactions. In addition to listings, some sites also offer how-to articles and advice for those who choose to go it alone.
Tradition + technology + turbulence = opportunities
So, given the trends, changes and ongoing industry evolution, what can independent buyers, sellers and investors expect in this new era of real estate?
o The Web and other technologies will continue to evolve and transform the $1.3 trillion real-estate industry. Technology will continue to reduce the time, expense and complexity of manual processes, and increasingly sophisticated search and valuation tools will play a more strategic role.
o Free and low-cost real estate resources will continue to be available and even multiply on the Web. In real estate, knowledge truly is power. Consumers will try to use their power to gain more control of the real estate process and subsequently expect to be compensated in the form of reduced and fee-for-service commissions.
o The role of traditional real estate brokerages will evolve as Web-enabled consumers become more knowledgeable. This likely will trigger some restructuring and consolidation of traditional brokerages, but will also drive the development of innovative new practices targeting online and empowered consumers. Real estate professionals will focus more on promoting their local knowledge and industry expertise, while consumers will perform some buying and selling tasks on their own.
o Traditional real estate commissions and profitability levels will continue to face downward pressure from various sources. The future will be profitable for brokerages that are able to extend their core expertise of neighborhood and industry knowledge into flexible new consumer-centric offerings.
o The traditional high-touch, full-service real estate agency is evolving, not disappearing. Real estate professionals who provide exceptional service and value to their customers will always be in demand.
You now can find more real estate knowledge, tools and resources on the Web than ever before, enabling you to buy and sell with increased confidence. For real estate professionals, reinventing the industry means making hard decisions, changing processes and managing new opportunities. But for consumers, reinvention in real estate is a winner, hands-down.
Learn more at http://www.homekeys.net
Charles Warnock is Marketing Communications Manager at Homexperts in Miami, Florida. Their Web site is http://www.homekeys.net. Charles writes frequently on real estate, finance, advertising and marketing communications.
Article Source: http://EzineArticles.com/?expert=Charles_Warnock
Wednesday, 25 August 2010
Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less
For decades, the real estate world turned in a predictable manner. The roles of buyers, sellers and real estate professionals were fairly well defined and transactions followed a predictable path of yard signs, newspaper ads, open houses and miles of paperwork.
Recently, online and empowered consumers have changed the game. Real estate professionals now face issues similar to the ones that have transformed the retail, personal finance and travel planning industries. As technology advances and new business models evolve, the real estate industry has begun to transform itself from providing traditional, carefully controlled "agent-centric" transactions to new "consumer-centric" practices. The following is a look at some of the recent industry trends and how buyers, sellers and investors can expect to benefit. The "Five Ds" that are driving change in real estate are:
1. Disruption - Over the past 10 years, the Internet has matured into a powerful platform for delivering real estate information, forever changing the interaction between buyers, sellers and real estate professionals.
2. Displacement - The popularity and acceptance of self-service and consumer-direct business models is being felt by real estate professionals, who are striving to develop attractive new offerings for Web-savvy consumers.
3. Demanding consumers - You now have more real estate knowledge, tools and resources at your fingertips than ever before. More savvy consumers tend to be more independent and demanding.
4. Downward pressure - Traditional real estate commissions of 5-6 percent of a property's sales price are facing downward pressure.
5. Developing alternatives - The real estate industry is transforming itself to provide targeted services and exciting new options that add value for consumers.
Disruption
"We are going to see our industry go through dramatic transformation via the Internet and consolidation of agents and companies." - eRealty Times Columnist Dirk Zeller
Some industry observers have adopted Harvard Business School professor Clayton Christensen's term "disruptive technology" to explain recent developments in real estate. Though it's easy to point to the World Wide Web and advancing technology as the main changes in real estate, that's only part of what's shaking things up. Essentially, the real cause of disruption is not just technology, but technology-enabled real estate consumers.
Web-enabled consumers
According to the National Association of Realtors (NAR), more than 72 percent of homebuyers now begin their home search online. The popularity of online real estate ads surpassed newspaper property listings back in 2001, and the gap is widening. Less than one percent of buyers first learned about the home they purchased on the Internet in 1995, while in 2004, that number passed 20 percent.
According to a California Association of Realtors (CAR) survey, 97 percent of respondents said the Web helped them understand the buying process better and 100 percent said using the Web helped them understand home values better. Web-enabled homebuyers like you are taking a more active role in researching homes and neighborhoods. You also now spend less time with real estate professionals once you have completed your research. Internet homebuyers also used the Web effectively to filter out properties that did not interest them, visiting 6.1 homes on average versus 15.4 for traditional buyers.
Today, you can view photos and detailed information for hundreds of properties in the time it used to take to visit a single one. And the Web provides much more opportunity than simply moving print listings online. The growing availability of residential high-speed Internet connections has boosted the popularity of virtual tours and interactive maps, providing consumers with powerful and flexible visual search tools.
In addition to making home searches easier, automated valuation model (AVM) software is making a big impact in how properties are evaluated. AVMs, which generate valuation estimates by analyzing and comparing property information data, are becoming increasingly sophisticated and accurate. While not considered a substitute for human appraisals, AVMs are gaining popularity because they are inexpensive, easy to use and produce valuation estimates in minutes. Now AVMs, used extensively in electronic mortgage approval processing during the recent refinancing boom, are becoming available on real-estate Websites aimed at consumers. This is a significant development for independent sellers, who often find it challenging to price their properties correctly when selling on their own.
The MLS goes public
"In real estate, MLS data sits at the apex of the change, specifically the MLS information that is pushed to the Internet every minute of the day." - Bradley Inman, Publisher of Inman News
Once an exclusive tool for real estate professionals, the multiple listing service (MLS) has in recent years become a very public platform for real estate listings. The MLS is the nation's most comprehensive database of properties for sale - four out of five homes sold in the United States are listed on the MLS.
MLS properties are available to agents and brokers worldwide, and are now accessible via consumer Web sites such as Realtor.com, WSJ.com, Excite, Netscape, AOL and MSN. MLS listings also appear on local, regional and national brokerage Websites through Internet Data Exchange (IDX) agreements that allow participating Realtors to share listings and display them to consumers. Even though only licensed realtors can list property on the MLS, the system has begun to figure prominently for the $110 billion independent seller (for-sale-by-owner or FSBO) market. About 13 percent of real estate sales are now FSBO, conducted without a broker's assistance.
Type "flat fee MLS" into any major search engine, and you'll see dozens of real estate professionals willing to list your property in the MLS for a fee. If you are willing to pay a commission of 2-3 percent, you can attract the attention of thousands of agents who will show your property to prospective buyers. You can then reduce the cost of the sale to about half a traditional 5-6 percent sales commission, plus the cost of the MLS listing. If you find an independent buyer working without an agent, you could make a sale with no commission at all and pay only an MLS listing flat fee.
Displacement
Currently, about 2.4 million real estate licensees operate nationally, according to the Association of Real Estate License Law officials. The NAR has more than one million members, up from about 760,000 members five years ago. Many real estate professionals and industry observers expect a significant decline in this number because some tasks traditionally performed by agents and brokers can now be done more quickly and easily by Web-enabled consumers.
"Historically the fundamental driver of the real estate industry was the control of information. The real estate agent and the real estate office were the only sources of comprehensive information on which properties were for sale and those who might be interested in buying them. With this control revenues were practically guaranteed.
Moreover, because this exclusive control was akin to a monopoly by virtue of the multiple listing service (MLS) any firm of any size could serve the customer equally well. As a result, the number of real estate companies grew without regard to market efficiencies.
Simply put, the traditional model is too inflexible. Consumers are seriously questioning the value of a real estate agent. They frequently feel that many of the traditional tasks undertaken by the agents are now either no longer required or can be done by the consumer themselves."
- Swanepoel & Tuccillo, Real Estate Confronts Profitability
The quotes above, from a popular report on emerging real estate business models and dwindling profit margins, highlight a number of issues traditional real estate professionals are now facing. And if the real estate industry has grown historically without regard to market efficiencies, the issue has only been compounded since 2001, as new agents signed on in droves, lured by low interest rates and skyrocketing home prices in many areas. It's likely that the number of traditional real estate agents will decline, while new types of real estate jobs will be created to deliver value to Web-savvy customers.
NEXT in Part 2 of 2: - Demanding Consumers, Downward Pressure and Developing Alternatives
Charles Warnock is Marketing Communications Manager at Homekeys in Miami, Florida. Homekeys is a non-traditional real estate Web site that helps consumers buy, sell and save thousands on real estate. Learn more at http://www.homekeys.net. Charles writes frequently on real estate, finance, advertising and marketing communications.
Article Source: http://EzineArticles.com/?expert=Charles_Warnock
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MLA Style Citation:
Warnock, Charles "Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less." Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less. 20 Apr. 2005 EzineArticles.com. 25 Aug. 2010.
APA Style Citation:
Warnock, C. (2005, April 20). Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less. Retrieved August 25, 2010, from http://ezinearticles.com/?Reinventing-Real-Estate,-Part-1:-Online-and-Empowered-Consumers-Are-Taking-Charge-and-Paying-Less&id=28537
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Warnock, Charles "Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less." Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less EzineArticles.com. http://ezinearticles.com/?Reinventing-Real-Estate,-Part-1:-Online-and-Empowered-Consumers-Are-Taking-Charge-and-Paying-Less&id=28537 CloseRecommend This Article
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Recently, online and empowered consumers have changed the game. Real estate professionals now face issues similar to the ones that have transformed the retail, personal finance and travel planning industries. As technology advances and new business models evolve, the real estate industry has begun to transform itself from providing traditional, carefully controlled "agent-centric" transactions to new "consumer-centric" practices. The following is a look at some of the recent industry trends and how buyers, sellers and investors can expect to benefit. The "Five Ds" that are driving change in real estate are:
1. Disruption - Over the past 10 years, the Internet has matured into a powerful platform for delivering real estate information, forever changing the interaction between buyers, sellers and real estate professionals.
2. Displacement - The popularity and acceptance of self-service and consumer-direct business models is being felt by real estate professionals, who are striving to develop attractive new offerings for Web-savvy consumers.
3. Demanding consumers - You now have more real estate knowledge, tools and resources at your fingertips than ever before. More savvy consumers tend to be more independent and demanding.
4. Downward pressure - Traditional real estate commissions of 5-6 percent of a property's sales price are facing downward pressure.
5. Developing alternatives - The real estate industry is transforming itself to provide targeted services and exciting new options that add value for consumers.
Disruption
"We are going to see our industry go through dramatic transformation via the Internet and consolidation of agents and companies." - eRealty Times Columnist Dirk Zeller
Some industry observers have adopted Harvard Business School professor Clayton Christensen's term "disruptive technology" to explain recent developments in real estate. Though it's easy to point to the World Wide Web and advancing technology as the main changes in real estate, that's only part of what's shaking things up. Essentially, the real cause of disruption is not just technology, but technology-enabled real estate consumers.
Web-enabled consumers
According to the National Association of Realtors (NAR), more than 72 percent of homebuyers now begin their home search online. The popularity of online real estate ads surpassed newspaper property listings back in 2001, and the gap is widening. Less than one percent of buyers first learned about the home they purchased on the Internet in 1995, while in 2004, that number passed 20 percent.
According to a California Association of Realtors (CAR) survey, 97 percent of respondents said the Web helped them understand the buying process better and 100 percent said using the Web helped them understand home values better. Web-enabled homebuyers like you are taking a more active role in researching homes and neighborhoods. You also now spend less time with real estate professionals once you have completed your research. Internet homebuyers also used the Web effectively to filter out properties that did not interest them, visiting 6.1 homes on average versus 15.4 for traditional buyers.
Today, you can view photos and detailed information for hundreds of properties in the time it used to take to visit a single one. And the Web provides much more opportunity than simply moving print listings online. The growing availability of residential high-speed Internet connections has boosted the popularity of virtual tours and interactive maps, providing consumers with powerful and flexible visual search tools.
In addition to making home searches easier, automated valuation model (AVM) software is making a big impact in how properties are evaluated. AVMs, which generate valuation estimates by analyzing and comparing property information data, are becoming increasingly sophisticated and accurate. While not considered a substitute for human appraisals, AVMs are gaining popularity because they are inexpensive, easy to use and produce valuation estimates in minutes. Now AVMs, used extensively in electronic mortgage approval processing during the recent refinancing boom, are becoming available on real-estate Websites aimed at consumers. This is a significant development for independent sellers, who often find it challenging to price their properties correctly when selling on their own.
The MLS goes public
"In real estate, MLS data sits at the apex of the change, specifically the MLS information that is pushed to the Internet every minute of the day." - Bradley Inman, Publisher of Inman News
Once an exclusive tool for real estate professionals, the multiple listing service (MLS) has in recent years become a very public platform for real estate listings. The MLS is the nation's most comprehensive database of properties for sale - four out of five homes sold in the United States are listed on the MLS.
MLS properties are available to agents and brokers worldwide, and are now accessible via consumer Web sites such as Realtor.com, WSJ.com, Excite, Netscape, AOL and MSN. MLS listings also appear on local, regional and national brokerage Websites through Internet Data Exchange (IDX) agreements that allow participating Realtors to share listings and display them to consumers. Even though only licensed realtors can list property on the MLS, the system has begun to figure prominently for the $110 billion independent seller (for-sale-by-owner or FSBO) market. About 13 percent of real estate sales are now FSBO, conducted without a broker's assistance.
Type "flat fee MLS" into any major search engine, and you'll see dozens of real estate professionals willing to list your property in the MLS for a fee. If you are willing to pay a commission of 2-3 percent, you can attract the attention of thousands of agents who will show your property to prospective buyers. You can then reduce the cost of the sale to about half a traditional 5-6 percent sales commission, plus the cost of the MLS listing. If you find an independent buyer working without an agent, you could make a sale with no commission at all and pay only an MLS listing flat fee.
Displacement
Currently, about 2.4 million real estate licensees operate nationally, according to the Association of Real Estate License Law officials. The NAR has more than one million members, up from about 760,000 members five years ago. Many real estate professionals and industry observers expect a significant decline in this number because some tasks traditionally performed by agents and brokers can now be done more quickly and easily by Web-enabled consumers.
"Historically the fundamental driver of the real estate industry was the control of information. The real estate agent and the real estate office were the only sources of comprehensive information on which properties were for sale and those who might be interested in buying them. With this control revenues were practically guaranteed.
Moreover, because this exclusive control was akin to a monopoly by virtue of the multiple listing service (MLS) any firm of any size could serve the customer equally well. As a result, the number of real estate companies grew without regard to market efficiencies.
Simply put, the traditional model is too inflexible. Consumers are seriously questioning the value of a real estate agent. They frequently feel that many of the traditional tasks undertaken by the agents are now either no longer required or can be done by the consumer themselves."
- Swanepoel & Tuccillo, Real Estate Confronts Profitability
The quotes above, from a popular report on emerging real estate business models and dwindling profit margins, highlight a number of issues traditional real estate professionals are now facing. And if the real estate industry has grown historically without regard to market efficiencies, the issue has only been compounded since 2001, as new agents signed on in droves, lured by low interest rates and skyrocketing home prices in many areas. It's likely that the number of traditional real estate agents will decline, while new types of real estate jobs will be created to deliver value to Web-savvy customers.
NEXT in Part 2 of 2: - Demanding Consumers, Downward Pressure and Developing Alternatives
Charles Warnock is Marketing Communications Manager at Homekeys in Miami, Florida. Homekeys is a non-traditional real estate Web site that helps consumers buy, sell and save thousands on real estate. Learn more at http://www.homekeys.net. Charles writes frequently on real estate, finance, advertising and marketing communications.
Article Source: http://EzineArticles.com/?expert=Charles_Warnock
Ads by Google
Sell your house in 7 days
Free 7 page Valuation Report. Immediate decision. Cash in days.
www.a-quick-sale.co.uk
Buy My Real Estate?
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www.experienceparkcity.com
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Amazing Property for rent or sale in Turkey Also land for sale.
www.eliteturkishproperty.co.uk
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Custom Homes and Lots for Sale. A Family-Inspired Community.
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West Auckland Property Specialists for Buying or Selling Real Estate
www.barfoot.co.nz/titirangi
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Thinking Of Investing In Property? Investment Facts & Figures Here.
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REMAX dave procter realty
Helping Families Relocate To The Comox Valley For 30 Years
www.comox-valley-realty.com
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MLA Style Citation:
Warnock, Charles "Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less." Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less. 20 Apr. 2005 EzineArticles.com. 25 Aug. 2010
APA Style Citation:
Warnock, C. (2005, April 20). Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less. Retrieved August 25, 2010, from http://ezinearticles.com/?Reinventing-Real-Estate,-Part-1:-Online-and-Empowered-Consumers-Are-Taking-Charge-and-Paying-Less&id=28537
Chicago Style Citation:
Warnock, Charles "Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less." Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less EzineArticles.com. http://ezinearticles.com/?Reinventing-Real-Estate,-Part-1:-Online-and-Empowered-Consumers-Are-Taking-Charge-and-Paying-Less&id=28537 CloseRecommend This Article
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SendMost Recent EzineArticles from the Real-Estate Category:
Hottest Real Estate Markets of Today
The Art of Finding a Good Real Estate Agent
Ten (10) Reasons to Work With a Commercial Buyer's Agent
The New Normal for Housing Construction
Home Prices Rise For Second Continuous Quarter
Life of a Real Estate Agent
Make the Most Out of Your Real Estate Agent
Real Estate Investors Choose South West Rocks Property
Australian Coastal Property at South West Rocks
Purchase the Real Estate
Pet-Friendly Condos - Have a Superb Vacation
Tips to Get a Great Place in Beautiful Surroundings
Tips to Get a Wonderful Property in Unspoiled Countryside
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More Related EzineArticles:
Reinventing Real Estate, Part 2: Online and Empowered Consumers Are Taking Charge and Paying Less
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Tuesday, 24 August 2010
Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations
Delaware, and the rest of the original British Colonies, has some land that is leased rather than owned by the residents of that land. Much of it is not evident to the casual observer.
The land on Lewes Beach is leased, not owned by the home owners. The land of Lewes Beach is owned by the Town of Lewes. The lands of Rehoboth by the Sea and Dewey Beach include leased land too. Most of the leases on that land will NOT be renewed but will return to the owners and the homes on top of that land will be removed by the home owners at their expense. Much of the land in Riverdale, on Indian River Bay, adjacent to Oak Orchard is leased as well. In Riverdale the leased land is owned by Chief Clark of the Nanticoke Indians.
We have about half the inhabitants of Sussex County living on leased land; most of that leased land is found in what people call mobile home parks or communities. However, in those communities there are seldom any homes that are truly mobile and there are even two story stick built homes on some of the leased lands in those communities. Condominiums and town houses are sometimes found on leased land as well. Some folks find all this rather difficult to understand.
We Realtors and Attorneys use the term fee simple to describe land that is being sold as real property; that is real estate. We used the term leased land or leasehold interest to describe land that is not transferring as real estate.
This rather lengthy text is regarding Leased Land, Real Estate, Private Property, Chattels, Mobile Homes, Homes on Leased Land and a legal dissertation to define, describe and determine the differences.
Terminology is important when discussing Real Estate, i.e. real property.
Black’s Law Dictionary is the recognized, definitive source for legal definitions under our American Law; which is derived from English Law
PROPERTY: In the strict legal sense, an aggregate of rights which are guaranteed and protected by government. BL6, p. 1216.
PERSONALTY: Personal property; movable property; chattels; property that is not attached to real estate. BL6, p. 1144
PROPERTY: (personal property) - In broad and general sense, everything that is the subject of ownership, not coming under the denomination of real estate. A right or interest less than a freehold in realty, or any right or interest which one has in things movable. BL6, p. 1217
Therefore personal property, is that which can be easily removed from the real estate, and is not real estate. Personal property includes crops, trees, shrubs, trailers, sheds, cars, mobile homes, manufactured homes that have a Department of Motor Vehicle title instead of a deed, and the contents of a home or building. In a home or business the personal property includes drapes, lighting fixtures, rugs (not installed carpeting) free-standing cabinets and cupboards, furniture, and all the contents of closets, drawers and buildings. Buildings without a foundation, that is sheds that are just supported by blocks are chattel property, that is personal property, and not part of the real estate. Such chattel includes dog houses and particularly the little storage buildings that are so common outside of homes today.
LANDS: In the most general sense, comprehends any ground, soil or earth whatsoever... Black's Law dictionary 6th Ed. (BL6), p.877
PRIVATE PROPERTY: As protected from being taken for public uses, is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. Property of a specific, fixed and tangible nature, capable of being in possession and transmitted to another, such as houses, lands, and chattels. BL6, p. 1217. Private property is land, houses, and chattels. Private property is protected from being taken for public uses. Private property is owned absolutely.
REAL ESTATE synonymous with real property" and p.1218 REAL PROPERTY ... A general term for lands, tenements, hereditaments (those things which are hereditary); which on the death of the owner intestate, passes to his heir." BL6, p1263
ESTATE: The degree, quantity, nature and extent of interest which a person has in REAL and PERSONAL property. An ESTATE in lands, tenements, and hereditaments signifies such interest as the tenant has therein. BL6, p.547 The definitions here all refer to: real estate = real property = estate = lands, tenements, and hereditaments. At first, one might think that ‘real property' is the proper term for 'all lands'. But it doesn't state the manner of ownership as clearly as the definition of estate. We just had a huge instance of this when the thousands of leased land lots under the homes of several thousand people, in Angola, Pots Nets, and Long Neck areas owned by the Robert Tunnel family was inherited by the children.
IN OUR AREA THERE ARE NUMEROUS LEASED LAND PROPERTIES AND THOSE PROPERTIES ARE THE REAL ESTATE OF THE OWNER OF THE LAND – NOT THE OWNER OF THE HOME WHICH IS UPON THAT LAND. If you examine the definition for ESTATE it refers to an interest in the same articles defined in real property and real estate.
What is this LAND and WHO owns it and HOW is it owned? Land can be private property OR estate, i.e. real estate. Estate is an interest in “real property" by a person or a tenant. Private property is owned absolutely by an individual.
INTEREST: More particularly it means a right to have the advantage of accruing from anything; any right in the nature of property, but less than title. - BL6, p.812. By this definition it's clear that INTEREST cannot be TITLE, since it is less than title. Interest may be a property right to land, but it's not a right to absolute ownership of land. Those who live on leased land, thus, have only an interest in the land; and that interest is a lease-hold interest. Is there a definition of property that says it's land held in absolute ownership, as does private property's definition? We can delve into this more.
ABSOLUTE TITLE - As applied to title to land, an exclusive title, or at least a title which excludes all others not compatible with it. An absolute title to land cannot exist at the same time in different persons or in different governments. BL6, p.1485
PRIVATE PROPERTY - ... is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. BL6, p.1217
OWN - To have a good legal title; to hold as property; to have a legal or rightful title to; to have; to possess. BL6, p. 1105. To "own" is to have title. An interest is LESS THAN TITLE.
ESTATE: The degree, quantity, nature and extent of interest which a person has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. - - BL6, p.547 From these definitions, it's plain that we can't absolutely "own" real estate. We can only have a qualified ownership of qualified and described ownership of Real Estate. Thus, we need that Deed Description to describe it and qualify it. That ownership is also qualified by various government rights, decrees and laws, from antiquity, such as rights against trespass. That ownership is qualified by taxation, zoning, rights of way, and a myriad of other entailments. We need, therefore, a title search to determine those entailments, some of which are invisible.
Therefore there is NOT as much difference in the rights and privileges of ownership and interest as one is led to believe. I have no problem with those who live on leased land instead of owning the land. Usually they are paying far less than it would cost them to own the same property. However, they don’t often get any appreciation of the land; the landlord gets the appreciation in real value, while the resident can appreciate the lifestyle for less cost per month or year.
However, since an interest in leased land is not automatically transferable and is NOT Real Estate and since the chattel property upon it, the mobile home is personal property, without a deed but instead has a title – Realtors are not by law supposed to be involved in the sale of such – but we are. We are supposed to only be selling real property. It gets all cloudy and foggy doesn’t it. That is why there are people and companies who sell mobile homes on leased land who are not realtors and don’t need to be. In fact, although no one will discuss it, Realtors are not supposed to sell mobile homes on leased land. We don’t need to engage in that battle any more than I just did by describing it.
OWNERSHIP: The complete dominion, title, or proprietary, including right in a thing or claim... Ownership of property is either absolute or qualified. The ownership of property is absolute when a single person has dominion over it, and may use it or dispose of it according to his pleasure, subject only to general laws. The ownership is qualified when it is shared with one or more persons, when the time of enjoyment is deferred or limited, or when the use is restricted. - BL6, p. 1106 Such sharing is common with husband and wife, partners, families and corporations, etc.
DOMINION - Generally accepted definition of "dominion" is perfect control in right of ownership. The word implies both title and possession and appears to require a complete retention of control over disposition. - - -BL6, p. 486 I think you'd agree that zoning, building codes, home owners association covenants, condominium documents of use and business licensing is a restriction on the use of land (if it's Real Estate). And there is obviously the fact that failure to pay property taxes on real estate will result in loss of said property. That's definitely not absolute ownership. But private property is defined as ABSOLUTE OWNERSHIP, not qualified (interest).
PROPERTY (tangible) - All property that is touchable and has real existence (physical) whether it is real or personal. - - BL6, p. 1218 In summation, it takes a good attorney, and one well versed and experienced in real estate to understand the complex definitions, rights, liabilities, and privileges of real estate ownership. I have been buying and selling real estate for myself and assisting others in the buying and selling of real estate for thirty years. I have taught courses on real estate and real estate law. And, I would NOT consider purchasing a property, or purchasing property on leased land without the professional and paid assistance of an attorney who is a real estate specialist in the exact county in which the property is located. Other attorneys from other areas are not valid choices at all.
Copyright © 2001 - 2005 by www.JodyHudson.com>
Jody Hudson has been a Realtor for 35 years.
Source Page for the above article is: [http://www.kate-jody.com/essays/realrealleased.html]
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Hudson, Jody "Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations." Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations. 22 Oct. 2004 EzineArticles.com. 24 Aug. 2010.
APA Style Citation:
Hudson, J. (2004, October 22). Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations. Retrieved August 24, 2010, from http://ezinearticles.com/?Real-Estate,-Real-Property-and-Leased-Land;-Definitions,-Discussion-and-Explanations&id=3268
Chicago Style Citation:
Hudson, Jody "Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations." Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations EzineArticles.com. http://ezinearticles.com/?Real-Estate,-Real-Property-and-Leased-Land;-Definitions,-Discussion-and-Explanations&id=3268 CloseRecommend This Article
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The land on Lewes Beach is leased, not owned by the home owners. The land of Lewes Beach is owned by the Town of Lewes. The lands of Rehoboth by the Sea and Dewey Beach include leased land too. Most of the leases on that land will NOT be renewed but will return to the owners and the homes on top of that land will be removed by the home owners at their expense. Much of the land in Riverdale, on Indian River Bay, adjacent to Oak Orchard is leased as well. In Riverdale the leased land is owned by Chief Clark of the Nanticoke Indians.
We have about half the inhabitants of Sussex County living on leased land; most of that leased land is found in what people call mobile home parks or communities. However, in those communities there are seldom any homes that are truly mobile and there are even two story stick built homes on some of the leased lands in those communities. Condominiums and town houses are sometimes found on leased land as well. Some folks find all this rather difficult to understand.
We Realtors and Attorneys use the term fee simple to describe land that is being sold as real property; that is real estate. We used the term leased land or leasehold interest to describe land that is not transferring as real estate.
This rather lengthy text is regarding Leased Land, Real Estate, Private Property, Chattels, Mobile Homes, Homes on Leased Land and a legal dissertation to define, describe and determine the differences.
Terminology is important when discussing Real Estate, i.e. real property.
Black’s Law Dictionary is the recognized, definitive source for legal definitions under our American Law; which is derived from English Law
PROPERTY: In the strict legal sense, an aggregate of rights which are guaranteed and protected by government. BL6, p. 1216.
PERSONALTY: Personal property; movable property; chattels; property that is not attached to real estate. BL6, p. 1144
PROPERTY: (personal property) - In broad and general sense, everything that is the subject of ownership, not coming under the denomination of real estate. A right or interest less than a freehold in realty, or any right or interest which one has in things movable. BL6, p. 1217
Therefore personal property, is that which can be easily removed from the real estate, and is not real estate. Personal property includes crops, trees, shrubs, trailers, sheds, cars, mobile homes, manufactured homes that have a Department of Motor Vehicle title instead of a deed, and the contents of a home or building. In a home or business the personal property includes drapes, lighting fixtures, rugs (not installed carpeting) free-standing cabinets and cupboards, furniture, and all the contents of closets, drawers and buildings. Buildings without a foundation, that is sheds that are just supported by blocks are chattel property, that is personal property, and not part of the real estate. Such chattel includes dog houses and particularly the little storage buildings that are so common outside of homes today.
LANDS: In the most general sense, comprehends any ground, soil or earth whatsoever... Black's Law dictionary 6th Ed. (BL6), p.877
PRIVATE PROPERTY: As protected from being taken for public uses, is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. Property of a specific, fixed and tangible nature, capable of being in possession and transmitted to another, such as houses, lands, and chattels. BL6, p. 1217. Private property is land, houses, and chattels. Private property is protected from being taken for public uses. Private property is owned absolutely.
REAL ESTATE synonymous with real property" and p.1218 REAL PROPERTY ... A general term for lands, tenements, hereditaments (those things which are hereditary); which on the death of the owner intestate, passes to his heir." BL6, p1263
ESTATE: The degree, quantity, nature and extent of interest which a person has in REAL and PERSONAL property. An ESTATE in lands, tenements, and hereditaments signifies such interest as the tenant has therein. BL6, p.547 The definitions here all refer to: real estate = real property = estate = lands, tenements, and hereditaments. At first, one might think that ‘real property' is the proper term for 'all lands'. But it doesn't state the manner of ownership as clearly as the definition of estate. We just had a huge instance of this when the thousands of leased land lots under the homes of several thousand people, in Angola, Pots Nets, and Long Neck areas owned by the Robert Tunnel family was inherited by the children.
IN OUR AREA THERE ARE NUMEROUS LEASED LAND PROPERTIES AND THOSE PROPERTIES ARE THE REAL ESTATE OF THE OWNER OF THE LAND – NOT THE OWNER OF THE HOME WHICH IS UPON THAT LAND. If you examine the definition for ESTATE it refers to an interest in the same articles defined in real property and real estate.
What is this LAND and WHO owns it and HOW is it owned? Land can be private property OR estate, i.e. real estate. Estate is an interest in “real property" by a person or a tenant. Private property is owned absolutely by an individual.
INTEREST: More particularly it means a right to have the advantage of accruing from anything; any right in the nature of property, but less than title. - BL6, p.812. By this definition it's clear that INTEREST cannot be TITLE, since it is less than title. Interest may be a property right to land, but it's not a right to absolute ownership of land. Those who live on leased land, thus, have only an interest in the land; and that interest is a lease-hold interest. Is there a definition of property that says it's land held in absolute ownership, as does private property's definition? We can delve into this more.
ABSOLUTE TITLE - As applied to title to land, an exclusive title, or at least a title which excludes all others not compatible with it. An absolute title to land cannot exist at the same time in different persons or in different governments. BL6, p.1485
PRIVATE PROPERTY - ... is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. BL6, p.1217
OWN - To have a good legal title; to hold as property; to have a legal or rightful title to; to have; to possess. BL6, p. 1105. To "own" is to have title. An interest is LESS THAN TITLE.
ESTATE: The degree, quantity, nature and extent of interest which a person has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. - - BL6, p.547 From these definitions, it's plain that we can't absolutely "own" real estate. We can only have a qualified ownership of qualified and described ownership of Real Estate. Thus, we need that Deed Description to describe it and qualify it. That ownership is also qualified by various government rights, decrees and laws, from antiquity, such as rights against trespass. That ownership is qualified by taxation, zoning, rights of way, and a myriad of other entailments. We need, therefore, a title search to determine those entailments, some of which are invisible.
Therefore there is NOT as much difference in the rights and privileges of ownership and interest as one is led to believe. I have no problem with those who live on leased land instead of owning the land. Usually they are paying far less than it would cost them to own the same property. However, they don’t often get any appreciation of the land; the landlord gets the appreciation in real value, while the resident can appreciate the lifestyle for less cost per month or year.
However, since an interest in leased land is not automatically transferable and is NOT Real Estate and since the chattel property upon it, the mobile home is personal property, without a deed but instead has a title – Realtors are not by law supposed to be involved in the sale of such – but we are. We are supposed to only be selling real property. It gets all cloudy and foggy doesn’t it. That is why there are people and companies who sell mobile homes on leased land who are not realtors and don’t need to be. In fact, although no one will discuss it, Realtors are not supposed to sell mobile homes on leased land. We don’t need to engage in that battle any more than I just did by describing it.
OWNERSHIP: The complete dominion, title, or proprietary, including right in a thing or claim... Ownership of property is either absolute or qualified. The ownership of property is absolute when a single person has dominion over it, and may use it or dispose of it according to his pleasure, subject only to general laws. The ownership is qualified when it is shared with one or more persons, when the time of enjoyment is deferred or limited, or when the use is restricted. - BL6, p. 1106 Such sharing is common with husband and wife, partners, families and corporations, etc.
DOMINION - Generally accepted definition of "dominion" is perfect control in right of ownership. The word implies both title and possession and appears to require a complete retention of control over disposition. - - -BL6, p. 486 I think you'd agree that zoning, building codes, home owners association covenants, condominium documents of use and business licensing is a restriction on the use of land (if it's Real Estate). And there is obviously the fact that failure to pay property taxes on real estate will result in loss of said property. That's definitely not absolute ownership. But private property is defined as ABSOLUTE OWNERSHIP, not qualified (interest).
PROPERTY (tangible) - All property that is touchable and has real existence (physical) whether it is real or personal. - - BL6, p. 1218 In summation, it takes a good attorney, and one well versed and experienced in real estate to understand the complex definitions, rights, liabilities, and privileges of real estate ownership. I have been buying and selling real estate for myself and assisting others in the buying and selling of real estate for thirty years. I have taught courses on real estate and real estate law. And, I would NOT consider purchasing a property, or purchasing property on leased land without the professional and paid assistance of an attorney who is a real estate specialist in the exact county in which the property is located. Other attorneys from other areas are not valid choices at all.
Copyright © 2001 - 2005 by www.JodyHudson.com>
Jody Hudson has been a Realtor for 35 years.
Source Page for the above article is: [http://www.kate-jody.com/essays/realrealleased.html]
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MLA Style Citation:
Hudson, Jody "Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations." Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations. 22 Oct. 2004 EzineArticles.com. 24 Aug. 2010
APA Style Citation:
Hudson, J. (2004, October 22). Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations. Retrieved August 24, 2010, from http://ezinearticles.com/?Real-Estate,-Real-Property-and-Leased-Land;-Definitions,-Discussion-and-Explanations&id=3268
Chicago Style Citation:
Hudson, Jody "Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations." Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations EzineArticles.com. http://ezinearticles.com/?Real-Estate,-Real-Property-and-Leased-Land;-Definitions,-Discussion-and-Explanations&id=3268 CloseRecommend This Article
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Sunday, 22 August 2010
Making Money in Real Estate
Making money in Real Estate is the most popular strategy to build wealth. If you're not currently making money and building wealth in real estate you need to start. I have been making money using four very simple strategies that are very simple to duplicate.
All of the millionaires I have learned from make money and build wealth in real estate. That's right, all of them! These real estate strategies can set you free for life!
If you learn and implement them you can build a massive amount of wealth in a very short period of time. I use a system for all four of the strategies that all go hand in hand.
These strategies can easily make you rich in a very short period of time. I use the first strategy to make money fast, the second strategy for making money in chunks and the third strategy is for building wealth and creating income for the rest of my life. The last strategy I use to buy real estate extremely cheap.
I use a step by step system for all of these money making systems. The first strategy requires in many cases no money and no credit. It's the strategy I use to create anywhere from three to fifteen thousand dollars in profits per deal in a short period of time without ever even buying real estate. This strategy is known as wholesaling.
It's easy to begin making quick money. You don't need money to make money with this strategy! If you have bad credit don't worry, you don't need good credit to make money with this strategy. My goal is for you to have a check in your hands of $5,000 or more in 30 days or less!
I can show you my exact system on how to do it. Wholesale is nothing more than making an offer on a piece of real estate, getting that offer accepted, then simply assigning to contract to someone else. Don't worry, making an offer on something doesn't mean you'll be forced to buy it".
Making offers on Real Estate is easy! You can do it two ways. Through a realtor or directly to sellers who don't have their homes listed with a realtor.
I developed a specific step by step system to find listed and unlisted properties to make offers on. Most of my deals are through listed properties. I use a realtor to make offers for me on properties that are listed.
There are a lot of realtors who won't understand what you're trying to accomplish. I'll teach you exactly the process I use to find my realtors as well as how to get them on the same page as you with what you want to accomplish.
There are so many properties for sale. You need to learn how to find the best one's to make offers on. Learning how to wholesale is the first step in becoming a real estate investor and getting out of the rat race! In all of my money making strategies I believe it is the easiest one for both beginners and advanced investors.
I use the second strategy to create larger chunks of cash anywhere from twenty to sixty thousand dollars in profits per deal. It takes a little longer to generate those profits than the first strategy but one deal generates much more money. This strategy is called retailing.
This strategy has some great advantages. It's easy to make consistent $20,000+ on every deal, it can be done part time, and it can and should be done with someone else's money!
Flipping real estate is nothing more than buying a house; fixing it up if it needs repairs, and then selling it for a profit. Most Real estate flippers that fail don't understand the number 1 rule, Buy Cheap! When they buy a house most of them think they're buying it cheap but chances are they're not.
The biggest mistake investors make is they don't calculate all of their costs before they do the deal. There is a specific formula that's easy to follow that will make sure you follow this very important rule. The way you buy your real estate is the difference between winning and losing.
If you are new to real estate investing the first strategy you should implement is wholesaling. The reason is with wholesaling you learn how to make extra money without risking your own money. When you accomplish that then move to retailing.
After you learn how to earn extra money wholesaling, you will have accomplished your first step in becoming a successful flipper. That first step is learning how to buy cheap!
The third strategy I use to build wealth and get paid forever. By doing this I create a monthly income that will last forever. Making money in Real Estate is not just creating quick cash; it's also about creating enough wealth where you can literally never have to work again! This strategy is known as buying and holding.
There are many ways to build a Money Making Machine. The best way is through real estate investing focused on building wealth. Making money now is important but creating wealth for the rest of your life is what will set you free!
Buying real estate isn't hard, but, buying real estate correctly is where most people go wrong. Understanding what makes up a good deal is your greatest asset with this strategy.
You make money when you buy; you get paid when you sell. If you're a beginner this will be the most important thing that must be understood. If you buy right you will have a lot of equity and great cash flow for the entire time you own a particular investment. This is what I refer to as building a money making machine.
In real estate there are many strategies to make money quick. Those are the strategies you should begin with because you have to learn how to buy cheap enough to make money.
After those strategies are executed that is the time to worry about building for the rest of your life. There are multiple ways to buy cheap it's all about learning the ones that will work for you.
Now, once you know how to buy cheap creating wealth is easy! Simply make sure you have great cash flow with each deal you intend on doing and before you know it after multiple deals you will start building monthly cash flow.
Continue this simple recipe over and over and in a very short period of time you could be generating enough cash flow to live on then you can focus on getting rich and wealthy! Best of all you can focus on whatever you want because you don't have to work if you don't want to.
The reason this is my favorite real estate strategy is because I love residual income. Creating something once that pays you for the rest of your life is the smartest thing you can do financially. All my rich mentors made this lesson very clear to me.
Building a money making machine first starts with making quick money in real estate. Once you learn that you will know how to buy real estate the right way. From there all you have to do is hold it for cash flow for the rest of your life!
The final strategy I use to buy real estate extremely cheap from distressed sellers. Buying cheap through properties in pre-foreclosure is a tremendous opportunity.
There are so many ways to make money in real estate. Many people have a hard time finding which way fit's them the best. Some people like to stick to one strategy, others like a lot of different strategies.
I recommend doing some research and reading some books to learn about all the different ways there are to make money before you choose one. I recommend the following products because they should help you decide what kind of real estate strategy you want to pursue.
Making money in real estate goes hand and hand with all of the other best money making strategies. The reason is the tax advantages you get blend very well together with all of the other money making strategies. Real estate investing is also one of my favorites because it is the best way to build ultimate wealth that will last forever!
Learning a simple money making strategy is easy. The hard part is where and who do you ask to teach you? This used to be my problem until I met some very successful mentors.
I learned for them many strategies to get rich, this one is one of the best. Making money in real estate is all about buying cheap! By finding and buying distressed real estate you will be able to buy extremely cheap.
Those who have a way to buy real estate extremely cheap will succeed. Pre-foreclosure investing is a great way to buy cheap from distressed sellers. It's a win-win situation for you and the seller.
There are a few ways to buy real estate in distressed situations. If a seller is in pre-foreclose which means they are behind on payments but their home hasn't been foreclosed on yet they would probably be very interested in selling.
Most of the time people end up losing their homes and would have been much better off if someone was there to help them out of that situation. Like I said, Win-Win situation.
There are two scenarios for the buyer. There is either already sufficient equity in the property for them to purchase it or there isn't enough equity. Most of the time there won't be enough.
There is a simple money making strategy know as short sales for properties that don't have enough equity. In this case the bank or mortgage company that has a lien on the property will most likely accept a huge discount on what they are owed in exchange for a payoff of some amount for what they are owed.
For example, if a property is worth $200,000 and the bank has a lien of $180,000 for a property in not great shape they will probably accept a huge discount. The reason is the cost they have to incur to foreclose, list, and resell is huge.
You make them and offer at $100,000 as a payoff. After negotiations they accept $120,000. You're now able to buy a $200,000 home for $120,000 through your knowledge.
All in all, these four Real Estate Investing Strategies all have their advantages and disadvantages. There is a sequential order they should be implemented in. Take this information and use it to the best of your ability and be smart and savvy out there.
My Name is Michael T. Keenan. I have been studying all aspect of finance for many years. I specialize in learning how to duplicate money making strategies that already exist which has allowed me to make a lot of money much quicker than normal. I have met hundreds of various millionaires and studied thousands. I used their strategies and techniques to get rich. I narrowed down all of the strategies used these millionaires to ten main strategies that I believed would be the easiest for me to duplicate and teach once I executed them. My studies have come a long way and it has allowed me to pursue two of my passions. I'm passionate about being wealthy and I'm even more passionate about teaching others how to get wealthy. After executing several of the ten strategies I began to write a website which allowed me to share my resources and knowledge with others. This was my first step in following my second passion which is educating others. I love adding new knowledge that I've required along the way to my website so everyone reading my site can benefit from that knowledge. I hope everyone interested in creating wealth and ultimately a better life for themselves and their families enjoys my articles and website. Visit my site below to learn more about the ten strategies I believe are the easiest money making strategies to duplicate in order to obtain massive wealth.
http://www.bestmoneymakingstrategies.com/Making-Money-In-Real-Estate.html
Article Source: http://EzineArticles.com/?expert=Michael_T_Keenan
All of the millionaires I have learned from make money and build wealth in real estate. That's right, all of them! These real estate strategies can set you free for life!
If you learn and implement them you can build a massive amount of wealth in a very short period of time. I use a system for all four of the strategies that all go hand in hand.
These strategies can easily make you rich in a very short period of time. I use the first strategy to make money fast, the second strategy for making money in chunks and the third strategy is for building wealth and creating income for the rest of my life. The last strategy I use to buy real estate extremely cheap.
I use a step by step system for all of these money making systems. The first strategy requires in many cases no money and no credit. It's the strategy I use to create anywhere from three to fifteen thousand dollars in profits per deal in a short period of time without ever even buying real estate. This strategy is known as wholesaling.
It's easy to begin making quick money. You don't need money to make money with this strategy! If you have bad credit don't worry, you don't need good credit to make money with this strategy. My goal is for you to have a check in your hands of $5,000 or more in 30 days or less!
I can show you my exact system on how to do it. Wholesale is nothing more than making an offer on a piece of real estate, getting that offer accepted, then simply assigning to contract to someone else. Don't worry, making an offer on something doesn't mean you'll be forced to buy it".
Making offers on Real Estate is easy! You can do it two ways. Through a realtor or directly to sellers who don't have their homes listed with a realtor.
I developed a specific step by step system to find listed and unlisted properties to make offers on. Most of my deals are through listed properties. I use a realtor to make offers for me on properties that are listed.
There are a lot of realtors who won't understand what you're trying to accomplish. I'll teach you exactly the process I use to find my realtors as well as how to get them on the same page as you with what you want to accomplish.
There are so many properties for sale. You need to learn how to find the best one's to make offers on. Learning how to wholesale is the first step in becoming a real estate investor and getting out of the rat race! In all of my money making strategies I believe it is the easiest one for both beginners and advanced investors.
I use the second strategy to create larger chunks of cash anywhere from twenty to sixty thousand dollars in profits per deal. It takes a little longer to generate those profits than the first strategy but one deal generates much more money. This strategy is called retailing.
This strategy has some great advantages. It's easy to make consistent $20,000+ on every deal, it can be done part time, and it can and should be done with someone else's money!
Flipping real estate is nothing more than buying a house; fixing it up if it needs repairs, and then selling it for a profit. Most Real estate flippers that fail don't understand the number 1 rule, Buy Cheap! When they buy a house most of them think they're buying it cheap but chances are they're not.
The biggest mistake investors make is they don't calculate all of their costs before they do the deal. There is a specific formula that's easy to follow that will make sure you follow this very important rule. The way you buy your real estate is the difference between winning and losing.
If you are new to real estate investing the first strategy you should implement is wholesaling. The reason is with wholesaling you learn how to make extra money without risking your own money. When you accomplish that then move to retailing.
After you learn how to earn extra money wholesaling, you will have accomplished your first step in becoming a successful flipper. That first step is learning how to buy cheap!
The third strategy I use to build wealth and get paid forever. By doing this I create a monthly income that will last forever. Making money in Real Estate is not just creating quick cash; it's also about creating enough wealth where you can literally never have to work again! This strategy is known as buying and holding.
There are many ways to build a Money Making Machine. The best way is through real estate investing focused on building wealth. Making money now is important but creating wealth for the rest of your life is what will set you free!
Buying real estate isn't hard, but, buying real estate correctly is where most people go wrong. Understanding what makes up a good deal is your greatest asset with this strategy.
You make money when you buy; you get paid when you sell. If you're a beginner this will be the most important thing that must be understood. If you buy right you will have a lot of equity and great cash flow for the entire time you own a particular investment. This is what I refer to as building a money making machine.
In real estate there are many strategies to make money quick. Those are the strategies you should begin with because you have to learn how to buy cheap enough to make money.
After those strategies are executed that is the time to worry about building for the rest of your life. There are multiple ways to buy cheap it's all about learning the ones that will work for you.
Now, once you know how to buy cheap creating wealth is easy! Simply make sure you have great cash flow with each deal you intend on doing and before you know it after multiple deals you will start building monthly cash flow.
Continue this simple recipe over and over and in a very short period of time you could be generating enough cash flow to live on then you can focus on getting rich and wealthy! Best of all you can focus on whatever you want because you don't have to work if you don't want to.
The reason this is my favorite real estate strategy is because I love residual income. Creating something once that pays you for the rest of your life is the smartest thing you can do financially. All my rich mentors made this lesson very clear to me.
Building a money making machine first starts with making quick money in real estate. Once you learn that you will know how to buy real estate the right way. From there all you have to do is hold it for cash flow for the rest of your life!
The final strategy I use to buy real estate extremely cheap from distressed sellers. Buying cheap through properties in pre-foreclosure is a tremendous opportunity.
There are so many ways to make money in real estate. Many people have a hard time finding which way fit's them the best. Some people like to stick to one strategy, others like a lot of different strategies.
I recommend doing some research and reading some books to learn about all the different ways there are to make money before you choose one. I recommend the following products because they should help you decide what kind of real estate strategy you want to pursue.
Making money in real estate goes hand and hand with all of the other best money making strategies. The reason is the tax advantages you get blend very well together with all of the other money making strategies. Real estate investing is also one of my favorites because it is the best way to build ultimate wealth that will last forever!
Learning a simple money making strategy is easy. The hard part is where and who do you ask to teach you? This used to be my problem until I met some very successful mentors.
I learned for them many strategies to get rich, this one is one of the best. Making money in real estate is all about buying cheap! By finding and buying distressed real estate you will be able to buy extremely cheap.
Those who have a way to buy real estate extremely cheap will succeed. Pre-foreclosure investing is a great way to buy cheap from distressed sellers. It's a win-win situation for you and the seller.
There are a few ways to buy real estate in distressed situations. If a seller is in pre-foreclose which means they are behind on payments but their home hasn't been foreclosed on yet they would probably be very interested in selling.
Most of the time people end up losing their homes and would have been much better off if someone was there to help them out of that situation. Like I said, Win-Win situation.
There are two scenarios for the buyer. There is either already sufficient equity in the property for them to purchase it or there isn't enough equity. Most of the time there won't be enough.
There is a simple money making strategy know as short sales for properties that don't have enough equity. In this case the bank or mortgage company that has a lien on the property will most likely accept a huge discount on what they are owed in exchange for a payoff of some amount for what they are owed.
For example, if a property is worth $200,000 and the bank has a lien of $180,000 for a property in not great shape they will probably accept a huge discount. The reason is the cost they have to incur to foreclose, list, and resell is huge.
You make them and offer at $100,000 as a payoff. After negotiations they accept $120,000. You're now able to buy a $200,000 home for $120,000 through your knowledge.
All in all, these four Real Estate Investing Strategies all have their advantages and disadvantages. There is a sequential order they should be implemented in. Take this information and use it to the best of your ability and be smart and savvy out there.
My Name is Michael T. Keenan. I have been studying all aspect of finance for many years. I specialize in learning how to duplicate money making strategies that already exist which has allowed me to make a lot of money much quicker than normal. I have met hundreds of various millionaires and studied thousands. I used their strategies and techniques to get rich. I narrowed down all of the strategies used these millionaires to ten main strategies that I believed would be the easiest for me to duplicate and teach once I executed them. My studies have come a long way and it has allowed me to pursue two of my passions. I'm passionate about being wealthy and I'm even more passionate about teaching others how to get wealthy. After executing several of the ten strategies I began to write a website which allowed me to share my resources and knowledge with others. This was my first step in following my second passion which is educating others. I love adding new knowledge that I've required along the way to my website so everyone reading my site can benefit from that knowledge. I hope everyone interested in creating wealth and ultimately a better life for themselves and their families enjoys my articles and website. Visit my site below to learn more about the ten strategies I believe are the easiest money making strategies to duplicate in order to obtain massive wealth.
http://www.bestmoneymakingstrategies.com/Making-Money-In-Real-Estate.html
Article Source: http://EzineArticles.com/?expert=Michael_T_Keenan
Saturday, 21 August 2010
Real Estate Property Values - Ranked High
Rob Norquist, a real estate agent admits that Newport Beach is as active as it used to be, with some good record sales. He also agrees with the fact that a property, should never be considered deprecated, and as a seller, you should never give up and use the low end price. It is true that, during a certain period of time, depending on the real estate market, client's desire, real estate auctions, there may be moments when a property's price drops, but not forever.
Other cities such as, Huntington Beach, Costa Mesa, Irvine or Mission Viejo - are considered among other 25 cities as being the ones with the best real estate property values, with average values of $680,000 and more. The national average value in 2007 was $194,300.
However, some property values are based on subjective answers from residents living in a certain home, so the given numbers , and real estate evaluation may be hanging on a wishful thinking instead of a real appreciation . This is where real estate auctions come in picture, to inform potential clients about the property, and the investment possibilities, giving them a clear image of the real estate's worth.
Even though some buildings such as Orange County properties , dropped their values in 2007, but they recovered extremely well after. So this is another reason why as a seller, you should never fear if you observe a temporally value drop, because it is normal from time to time.
For instance, about 81% owners, sellers, agents, trusted in 2007 that their estate property values were over $1 million, against 75% in 2006. So things are for the best and it would appear that most of estate agents have finally understood what this business is really about. It takes a lot of patience and ability to maintain your property's value among top ones on real estate market.
But Norquist, trusts that many Newport Beach arguments are near the mark, sustaining that this city has survived the "housing slump" better than other locations. However, the unexpected surprise attacked more on sales, which he admits that they are on a falling edge right now, but there is still hope for better times.
Newport Beach is very well known for its highest-valued real estate properties in the U.S., being a perfect place for real estate business . It's location and proximity to the water, and the beach front view increase it's real estate value considerably. Auctions in this area are very interesting and those who are interested in real estate business domain should never miss them. You can learn a lot on such events.
Experienced real estate agents or even friends will surely advise you that as a buyer you are very likely to come across many real estate properties in foreclosure having perhaps no equity,being over priced . In such moments, lenders sometimes choose to accept a smaller amount than the initial.So you get in the negotiations process. As a hint, when you realize the over pricing phenomenon, you have to understand that this happens when the real estate agent , or seller is aware of the real estate property's value, and he tries his luck in a raising price. So watch out! The negotiation can become a difficult process especially when reasonable terms are not agreed by both sides: owner and buyer. Negotiations can occur privately or in public, where real estate auctions come in the picture. Of course, a real estate auction is safer and more trustful than a private one. Private negotiations occur especially when the agent is a close friend or relative to buyer's, and because of the friendly environment some details regarding even the real estate transaction may be skipped. So in situations like this be careful.
Even as a friend, for a real estate agent , money comes first, and friendship after. Of course, during such a negotiation, there can be all sort of problems, such as mortgage value, real estate market, all sort of official formalities, conflict of interests in a particular area etc. Moreover, time a very important issue when real estate auctions are involved. As a general rule, and as an advise for a potential buyer, negotiation process should not be extended on a long period of time, because, as I said before, in time, real estate properties drop their values, and the client's interest together with it. In this case, not only does the buyer loose, but the real estate agency as well. Why?Because if a property's value drops, the price must drop as well, if you ever want to sell it again. In this case the under priced phenomenon appears. This is why short sales are preferred. Many Realtors, and clients started using this strategy, because they faced the problem regarding their property's value.So they decided the selling process should not take too long.
Another important issue refers to the well known "acceleration clause" , which is an official word met in any mortgage document, meaning that the lender, after the real estate property is sold, can demand the payment of the remaining balance for the loan. Realtors can provide more information about this contractual right. If this clause is good or bad for a real estate transaction, it is hard to say, because it has its advantages and disadvantages. Buying a real estate property which has already a mortgage loan represents a pretty raised risk. Why? Because first of all, if the mortgage loan was contracted for many years, depending on the interest's rate, and marketplace evolution, you may come to pay the house's price 3 times more. However, if you have experience in monitoring the market place, and find a right moment when every interest's value drops, you could go for it. It's kind of a gambling in this business, and Realtors, or individual real estate agents know it best.
Realtors and real estate agents are here on the real estate market, to help clients understand how they can value their houses, what should they look for when trying to sell or buy a house, how to negotiate, and how to win a real estate transaction. Some may say that buying or selling a real estate property is easy, but the fact is that pricing a house is a very difficult process. Many real estate agents, brokers, have suffered many defeats before their first good business, so do not expect their job to be an easy one.
Unfortunately, a concerning price and sales gains of these past years have determined in many cases quitting the real estate business. Many real estate agents who have seen the future preferred to do something else than real estate business. The credit market is also in a critical position, as many Realtors have observed. Mortgage values are also a result of real estate market position right now. Real estate investors have diminished their participation number to real estate auctions, as a sign they have seen it too.
However, as we all know how media does it, you have to understand that reporters have latched onto these issues, focusing only on its negative effects, and they have succeeded in putting fear in anyone who is interested in real estate business. For more of this business go to http://www.modfind.com my real estate business specialized website.
Neguletu Octavian
Article Source: http://EzineArticles.com/?expert=Neguletu_Octavian
Other cities such as, Huntington Beach, Costa Mesa, Irvine or Mission Viejo - are considered among other 25 cities as being the ones with the best real estate property values, with average values of $680,000 and more. The national average value in 2007 was $194,300.
However, some property values are based on subjective answers from residents living in a certain home, so the given numbers , and real estate evaluation may be hanging on a wishful thinking instead of a real appreciation . This is where real estate auctions come in picture, to inform potential clients about the property, and the investment possibilities, giving them a clear image of the real estate's worth.
Even though some buildings such as Orange County properties , dropped their values in 2007, but they recovered extremely well after. So this is another reason why as a seller, you should never fear if you observe a temporally value drop, because it is normal from time to time.
For instance, about 81% owners, sellers, agents, trusted in 2007 that their estate property values were over $1 million, against 75% in 2006. So things are for the best and it would appear that most of estate agents have finally understood what this business is really about. It takes a lot of patience and ability to maintain your property's value among top ones on real estate market.
But Norquist, trusts that many Newport Beach arguments are near the mark, sustaining that this city has survived the "housing slump" better than other locations. However, the unexpected surprise attacked more on sales, which he admits that they are on a falling edge right now, but there is still hope for better times.
Newport Beach is very well known for its highest-valued real estate properties in the U.S., being a perfect place for real estate business . It's location and proximity to the water, and the beach front view increase it's real estate value considerably. Auctions in this area are very interesting and those who are interested in real estate business domain should never miss them. You can learn a lot on such events.
Experienced real estate agents or even friends will surely advise you that as a buyer you are very likely to come across many real estate properties in foreclosure having perhaps no equity,being over priced . In such moments, lenders sometimes choose to accept a smaller amount than the initial.So you get in the negotiations process. As a hint, when you realize the over pricing phenomenon, you have to understand that this happens when the real estate agent , or seller is aware of the real estate property's value, and he tries his luck in a raising price. So watch out! The negotiation can become a difficult process especially when reasonable terms are not agreed by both sides: owner and buyer. Negotiations can occur privately or in public, where real estate auctions come in the picture. Of course, a real estate auction is safer and more trustful than a private one. Private negotiations occur especially when the agent is a close friend or relative to buyer's, and because of the friendly environment some details regarding even the real estate transaction may be skipped. So in situations like this be careful.
Even as a friend, for a real estate agent , money comes first, and friendship after. Of course, during such a negotiation, there can be all sort of problems, such as mortgage value, real estate market, all sort of official formalities, conflict of interests in a particular area etc. Moreover, time a very important issue when real estate auctions are involved. As a general rule, and as an advise for a potential buyer, negotiation process should not be extended on a long period of time, because, as I said before, in time, real estate properties drop their values, and the client's interest together with it. In this case, not only does the buyer loose, but the real estate agency as well. Why?Because if a property's value drops, the price must drop as well, if you ever want to sell it again. In this case the under priced phenomenon appears. This is why short sales are preferred. Many Realtors, and clients started using this strategy, because they faced the problem regarding their property's value.So they decided the selling process should not take too long.
Another important issue refers to the well known "acceleration clause" , which is an official word met in any mortgage document, meaning that the lender, after the real estate property is sold, can demand the payment of the remaining balance for the loan. Realtors can provide more information about this contractual right. If this clause is good or bad for a real estate transaction, it is hard to say, because it has its advantages and disadvantages. Buying a real estate property which has already a mortgage loan represents a pretty raised risk. Why? Because first of all, if the mortgage loan was contracted for many years, depending on the interest's rate, and marketplace evolution, you may come to pay the house's price 3 times more. However, if you have experience in monitoring the market place, and find a right moment when every interest's value drops, you could go for it. It's kind of a gambling in this business, and Realtors, or individual real estate agents know it best.
Realtors and real estate agents are here on the real estate market, to help clients understand how they can value their houses, what should they look for when trying to sell or buy a house, how to negotiate, and how to win a real estate transaction. Some may say that buying or selling a real estate property is easy, but the fact is that pricing a house is a very difficult process. Many real estate agents, brokers, have suffered many defeats before their first good business, so do not expect their job to be an easy one.
Unfortunately, a concerning price and sales gains of these past years have determined in many cases quitting the real estate business. Many real estate agents who have seen the future preferred to do something else than real estate business. The credit market is also in a critical position, as many Realtors have observed. Mortgage values are also a result of real estate market position right now. Real estate investors have diminished their participation number to real estate auctions, as a sign they have seen it too.
However, as we all know how media does it, you have to understand that reporters have latched onto these issues, focusing only on its negative effects, and they have succeeded in putting fear in anyone who is interested in real estate business. For more of this business go to http://www.modfind.com my real estate business specialized website.
Neguletu Octavian
Article Source: http://EzineArticles.com/?expert=Neguletu_Octavian
Friday, 20 August 2010
Selling Real Estate in This Market Can Be Easier With These Home Selling Tips
Selling real estate is always a topic of interest for any home owner. The average American will sell a house every five to seven years. Given a 90 year life expectancy and assuming you buy your first house at age 30. You can expect to selling 8 to 12 houses in your life time.
When it comes to selling a home it can be a very hectic and emotional time. There is a lot of money, memories and family history involved with selling a home. That is why it is best to take an outsider approach to selling real estate. Try to shake off the emotions and think like a potential buyer looking for a new home.
There are typically only 3 ways to sell real estate and some will leave you with more money and create a faster sale than others. There are advantages and disadvantages to each type of home selling process so chose the best option for your particular home selling situation.
Sell your house fast with out a real estate agent
One of the quickest ways to sell real estate is to contact a local real estate investor or home buyer in your area and receive an offer on your house. These real estate professionals exist in every major metropolitan area across the United States and make a living off of investing in real estate.
There is a myth that all real estate investors are out to make a quick buck and take advantage of home owners. Just like any profession there are reputable home buyers and there are dishonest ones. The truth is, real estate investors are a great asset to any home seller.
Most know more about real estate than a typical real estate agent. They are familiar with short sales, helping home owners avoid foreclosure, lease options, rent to own programs, and best of all most can pay cash and create a quick close on your house.
How can it cost you less to sell your home to a real estate investor? Because you are selling real estate directly directly to a buyer there are no real estate agent commissions involved which is typically 6 percent of your sale value. This can add up to tens of thousands of dollars. Instead of paying a real estate agent commissions you are giving some of that money in equity to the new home buyer or investor.
Another awesome advantage of selling your real estate to a local home buyer is the over all home selling process. Through any typical home selling process you would have to spend thousands of dollars staging your home for sale. You have to leave your home every time a potential home buyer wants to view your home. This can make the home selling experience even more emotional than it already is.
When you sell your house fast to a real estate investor they will buy your house as is. You do not have to spend money on fixing up your house to create curb appeal. You don't have to leave your house every evening so people can walk through your home critiquing your home decorations. A home buyer will quickly wall through your home, ask you a few questions about the homes history and give you an offer then next day.
So if you need to sell your house fast, consider receiving a free, confidential, no obligation offer for your house from a local home buyer. It will not cost you anything, you will receive an offer on your house, you will not have to pay any real estate commissions, and you just may receive an offer you can not refuse.
Selling real estate for sale by owner
The next best way to keep more cash in your pocket when selling real estate is to find a home buyer yourself and skip paying real estate commissions to an agent. This avenue is not for all home sellers. Real estate agents exist because they provide value and service. However if you have extra time, energy and are up to a challenge then selling your home for sale by owner could save you big dollars at the closing table.
One disadvantage of selling your house for sale by owner is the up front costs. Instead of a realtor taking charge of the marketing of your home, you will be the main marketing avenue to get the word out. Some of the out of pocket expenses will be getting your home in great shape to sell, and marketing. The best marketing money you can spend is to pay a for sale by owner company who will list your home on the multiple listing service, MLS.
This way you have captured the same marketing a real estate agent would use. This is also the best way to get thousands of potential home buyers to know your house is for sale. You will also have to pay for signs, internet listings and some paper work.
Selling your house with the help of a real estate agent
The more traditional way to sell real estate is to go through a real estate agent. This home selling option will leave you less money at the closing table but could yield a better experience than selling your home by yourself. After all, you are hiring a professional to take care of all the home selling tasks.
Note than you will still have some out of pocket expenses and some inconvenience. A good realtor will walk through your home and put a list together of things they suggest you do to make your home sell quicker and for a higher price. You will have to pay to upgrade certain items in your house, paint new walls, take down family photos and other tasks.
Typical real estate agents charge 6 percent of the sale price of your home as a commission. So if your home sells for 200,000 the real estate commissions would be 12,000. The agent will receive this payment at the closing table so you do not have to come up with this money out of pocket.
When you are Selling Real Estate get connected with a local home buyer in your area. They can provide you will a free, confidential, no-obligation offer for your house.
Article Source: http://EzineArticles.com/?expert=Shaun_Greer
When it comes to selling a home it can be a very hectic and emotional time. There is a lot of money, memories and family history involved with selling a home. That is why it is best to take an outsider approach to selling real estate. Try to shake off the emotions and think like a potential buyer looking for a new home.
There are typically only 3 ways to sell real estate and some will leave you with more money and create a faster sale than others. There are advantages and disadvantages to each type of home selling process so chose the best option for your particular home selling situation.
Sell your house fast with out a real estate agent
One of the quickest ways to sell real estate is to contact a local real estate investor or home buyer in your area and receive an offer on your house. These real estate professionals exist in every major metropolitan area across the United States and make a living off of investing in real estate.
There is a myth that all real estate investors are out to make a quick buck and take advantage of home owners. Just like any profession there are reputable home buyers and there are dishonest ones. The truth is, real estate investors are a great asset to any home seller.
Most know more about real estate than a typical real estate agent. They are familiar with short sales, helping home owners avoid foreclosure, lease options, rent to own programs, and best of all most can pay cash and create a quick close on your house.
How can it cost you less to sell your home to a real estate investor? Because you are selling real estate directly directly to a buyer there are no real estate agent commissions involved which is typically 6 percent of your sale value. This can add up to tens of thousands of dollars. Instead of paying a real estate agent commissions you are giving some of that money in equity to the new home buyer or investor.
Another awesome advantage of selling your real estate to a local home buyer is the over all home selling process. Through any typical home selling process you would have to spend thousands of dollars staging your home for sale. You have to leave your home every time a potential home buyer wants to view your home. This can make the home selling experience even more emotional than it already is.
When you sell your house fast to a real estate investor they will buy your house as is. You do not have to spend money on fixing up your house to create curb appeal. You don't have to leave your house every evening so people can walk through your home critiquing your home decorations. A home buyer will quickly wall through your home, ask you a few questions about the homes history and give you an offer then next day.
So if you need to sell your house fast, consider receiving a free, confidential, no obligation offer for your house from a local home buyer. It will not cost you anything, you will receive an offer on your house, you will not have to pay any real estate commissions, and you just may receive an offer you can not refuse.
Selling real estate for sale by owner
The next best way to keep more cash in your pocket when selling real estate is to find a home buyer yourself and skip paying real estate commissions to an agent. This avenue is not for all home sellers. Real estate agents exist because they provide value and service. However if you have extra time, energy and are up to a challenge then selling your home for sale by owner could save you big dollars at the closing table.
One disadvantage of selling your house for sale by owner is the up front costs. Instead of a realtor taking charge of the marketing of your home, you will be the main marketing avenue to get the word out. Some of the out of pocket expenses will be getting your home in great shape to sell, and marketing. The best marketing money you can spend is to pay a for sale by owner company who will list your home on the multiple listing service, MLS.
This way you have captured the same marketing a real estate agent would use. This is also the best way to get thousands of potential home buyers to know your house is for sale. You will also have to pay for signs, internet listings and some paper work.
Selling your house with the help of a real estate agent
The more traditional way to sell real estate is to go through a real estate agent. This home selling option will leave you less money at the closing table but could yield a better experience than selling your home by yourself. After all, you are hiring a professional to take care of all the home selling tasks.
Note than you will still have some out of pocket expenses and some inconvenience. A good realtor will walk through your home and put a list together of things they suggest you do to make your home sell quicker and for a higher price. You will have to pay to upgrade certain items in your house, paint new walls, take down family photos and other tasks.
Typical real estate agents charge 6 percent of the sale price of your home as a commission. So if your home sells for 200,000 the real estate commissions would be 12,000. The agent will receive this payment at the closing table so you do not have to come up with this money out of pocket.
When you are Selling Real Estate get connected with a local home buyer in your area. They can provide you will a free, confidential, no-obligation offer for your house.
Article Source: http://EzineArticles.com/?expert=Shaun_Greer
Thursday, 19 August 2010
Top Five Reasons to Invest in Real Estate Today
When it comes to real estate, the topic of the day is the downturn in the market, the number of people losing their homes, and how much this is going to hurt the economy. In the seventeen years I have been in the real estate business, I have witnessed every fluctuation the market has to offer. While it is true that many property owners are enduring trying times, rarely does the same happen to knowledgeable real estate investors.
There are those individuals who remain emotionally unattached and invest wisely in real estate. As a result, they live a very comfortable, if not lavish, lifestyle. Investing in real estate, especially during a downturn, can widen an investor's opportunities and bring about lucrative returns. This is a truth. If you are thinking about becoming a real estate investor or have already made the decision to start, the following information is priceless.
Wanting to secure a comfortable financial future, most of us go to work every day hoping to build a nest egg. Since, it is common knowledge that real estate investors have the capacity to not only build a nest egg but also create a fortune, why aren't more people joining the ranks of real estate multimillionaires? Why aren't there more people fighting for a seat on the real estate bandwagon?
Well, the truth behind real estate investing is that it is a business and therefore, must be treated like one for it to prosper. Just like any other promising venture, investing in real estate requires a well-defined vision, a strategic plan, and an entrepreneurial mindset. Even with the overwhelming evidence revealing success, only a microscopic segment of the population is willing to take the risk, do the work and follow through. The rest simply watch and call those of us doing the work "Lucky".
When I began my career in real estate, I didn't have a plan. I didn't invest. I didn't even see past my next commission check. What kept me hanging on was a desire to live like the people I worked for, most of whom were real estate investors. Years later, I committed to create serious wealth through real estate. As soon as I mindfully committed to my goal, I began to make deals and more money than ever before.
By choice, I am not one of those investors who vacations six months out of the year. I work all the time meeting with clients, looking at properties and refining my strategy. Add to that a growing number of mentoring/coaching clients and my schedule is officially full. Nevertheless, I am continuously increasing my net worth as I am doing something that never feels like work.
Besides creating amazing wealth, being your own boss and having a place or two to call home, owning a real estate investing business has many other advantages. The following five play a special role for the novice investor.
1. Safe Investment
When we use a timeline to compare the real estate market to other investments, such as the stock market, it is easy to see that real estate continues to increase in value over time without any serious instability. Although, there is currently a housing crisis in various parts across the country, every indicator points out that what we are actually experiencing is a readjustment of highly inflated real estate prices. Just as prices may be dropping, in time they will undoubtedly increase. In contrast, the stock market has put investors through a dizzying rollercoaster ride made up of swift highs and abrupt lows throughout history. Regardless of what type of market we are in, it is clear that an investment in real estate guarantees a profit over time.
2. No Cash Necessary
For beginning real estate investors, sometimes the only investment they can make is their time. For every real estate investor, finding a lucrative deal is as good as striking oil. There are plenty of seasoned investors with money in their pockets itching to buy a piece of discounted property. Wholesalers often utilize this method. Therefore, if you are new to the game, consider finding a deal, tying it up and connecting with an investor who can take it off your hands...for a price, of course.
3. Almost Anyone Can Do It
Real estate is such a lucrative field that it opens doors to countless amateur investors everyday. There are how-to books and seminars at every turn teaching would-be investors a myriad of ways to make huge profits in the real estate market. While it is true that overnight success is practically unheard of, anybody with the heart, mind and determination can make it big in real estate. The keys are to continue learning and to monitor market conditions.
4. Leveraging Power
While novice investors can turn a quick profit by wholesaling their deals, Buy-and-Hold investors can yield a profit by borrowing against (leveraging) their properties. Typically, lenders will allow holders of owner-occupied property to borrow up to ninety-five percent of their property's value and up to eighty-percent of non-owner occupied units. This means that you can either purchase property with a minimal out-of-pocket investment or acquire financing that will allow you to pull cash out of your property's equity to use for future ventures.
5. Tax Breaks
The popular 1031 exchange and depreciation are just two of them. The United States government has set up multiple tax breaks favoring real estate investors. Owning real estate with the goal of making a profit allows you to deduct interest payments, repairs, and vacancies among other expenses when preparing your tax return. It is important to note that purchasing real estate makes economic sense; it should not be purchased solely for the tax benefits.
Ultimately, owning a real estate business is the way to achieve financial freedom regardless of economic conditions. Whether you quit your job and dive right in or you work at it in your spare time, you can make it happen. Worthwhile benefits are waiting faithfully for the taking.
Brenda Coté is a Real Estate Investor, Real Estate and Mortgage Broker, Mentor, and Wealth Coach. At Transforming Lives, Creating Wealth, Brenda employs a "whole person" approach to support female Real Estate Investors succeed in business and life. To receive a FREE copy of Brenda's Report, "The Seven Biggest Mistakes Women Make When Creating Wealth Thru Real Estate" please go to: [http://www.transforminglivescreatingwealth.com]
Article Source: http://EzineArticles.com/?expert=Brenda_Cote
There are those individuals who remain emotionally unattached and invest wisely in real estate. As a result, they live a very comfortable, if not lavish, lifestyle. Investing in real estate, especially during a downturn, can widen an investor's opportunities and bring about lucrative returns. This is a truth. If you are thinking about becoming a real estate investor or have already made the decision to start, the following information is priceless.
Wanting to secure a comfortable financial future, most of us go to work every day hoping to build a nest egg. Since, it is common knowledge that real estate investors have the capacity to not only build a nest egg but also create a fortune, why aren't more people joining the ranks of real estate multimillionaires? Why aren't there more people fighting for a seat on the real estate bandwagon?
Well, the truth behind real estate investing is that it is a business and therefore, must be treated like one for it to prosper. Just like any other promising venture, investing in real estate requires a well-defined vision, a strategic plan, and an entrepreneurial mindset. Even with the overwhelming evidence revealing success, only a microscopic segment of the population is willing to take the risk, do the work and follow through. The rest simply watch and call those of us doing the work "Lucky".
When I began my career in real estate, I didn't have a plan. I didn't invest. I didn't even see past my next commission check. What kept me hanging on was a desire to live like the people I worked for, most of whom were real estate investors. Years later, I committed to create serious wealth through real estate. As soon as I mindfully committed to my goal, I began to make deals and more money than ever before.
By choice, I am not one of those investors who vacations six months out of the year. I work all the time meeting with clients, looking at properties and refining my strategy. Add to that a growing number of mentoring/coaching clients and my schedule is officially full. Nevertheless, I am continuously increasing my net worth as I am doing something that never feels like work.
Besides creating amazing wealth, being your own boss and having a place or two to call home, owning a real estate investing business has many other advantages. The following five play a special role for the novice investor.
1. Safe Investment
When we use a timeline to compare the real estate market to other investments, such as the stock market, it is easy to see that real estate continues to increase in value over time without any serious instability. Although, there is currently a housing crisis in various parts across the country, every indicator points out that what we are actually experiencing is a readjustment of highly inflated real estate prices. Just as prices may be dropping, in time they will undoubtedly increase. In contrast, the stock market has put investors through a dizzying rollercoaster ride made up of swift highs and abrupt lows throughout history. Regardless of what type of market we are in, it is clear that an investment in real estate guarantees a profit over time.
2. No Cash Necessary
For beginning real estate investors, sometimes the only investment they can make is their time. For every real estate investor, finding a lucrative deal is as good as striking oil. There are plenty of seasoned investors with money in their pockets itching to buy a piece of discounted property. Wholesalers often utilize this method. Therefore, if you are new to the game, consider finding a deal, tying it up and connecting with an investor who can take it off your hands...for a price, of course.
3. Almost Anyone Can Do It
Real estate is such a lucrative field that it opens doors to countless amateur investors everyday. There are how-to books and seminars at every turn teaching would-be investors a myriad of ways to make huge profits in the real estate market. While it is true that overnight success is practically unheard of, anybody with the heart, mind and determination can make it big in real estate. The keys are to continue learning and to monitor market conditions.
4. Leveraging Power
While novice investors can turn a quick profit by wholesaling their deals, Buy-and-Hold investors can yield a profit by borrowing against (leveraging) their properties. Typically, lenders will allow holders of owner-occupied property to borrow up to ninety-five percent of their property's value and up to eighty-percent of non-owner occupied units. This means that you can either purchase property with a minimal out-of-pocket investment or acquire financing that will allow you to pull cash out of your property's equity to use for future ventures.
5. Tax Breaks
The popular 1031 exchange and depreciation are just two of them. The United States government has set up multiple tax breaks favoring real estate investors. Owning real estate with the goal of making a profit allows you to deduct interest payments, repairs, and vacancies among other expenses when preparing your tax return. It is important to note that purchasing real estate makes economic sense; it should not be purchased solely for the tax benefits.
Ultimately, owning a real estate business is the way to achieve financial freedom regardless of economic conditions. Whether you quit your job and dive right in or you work at it in your spare time, you can make it happen. Worthwhile benefits are waiting faithfully for the taking.
Brenda Coté is a Real Estate Investor, Real Estate and Mortgage Broker, Mentor, and Wealth Coach. At Transforming Lives, Creating Wealth, Brenda employs a "whole person" approach to support female Real Estate Investors succeed in business and life. To receive a FREE copy of Brenda's Report, "The Seven Biggest Mistakes Women Make When Creating Wealth Thru Real Estate" please go to: [http://www.transforminglivescreatingwealth.com]
Article Source: http://EzineArticles.com/?expert=Brenda_Cote
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