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Category: real estate

6 Tips Strategies Buying a New Home

Having a new home is the desire of own property owned by individuals who already have income, especially those already married. Today quite a lot of housing developers who create a variety of new housing with a location in the suburbs and in the city center. For loans tips, you can see at http://www.critii.com/.

The selection is returned to the consumer will have a house located in the city center or vice versa. In addition to the location as a careful buyer, should consider other things before making a purchase homes. One thing to note is in terms of the selling price of the house itself, whether in accordance with the value of land and buildings or not.

In order to obtain the appropriate residential home owners expectations, here are some things to consider in order to get a new occupancy as expected, among other things:

  1. The location of the house

From a wide selection of types of houses offered by the marketing department of housing, customers have to be smart in choosing a home location choice. This is due to the strategic location of the house that will assist customers in conducting all its activities from work, to the streets.

Note also that the desired location of the house is close to a variety of public facilities, such as hospitals, shopping malls, to the highway. Although the terms of the price a little more expensive, but the location can be the value of investments that increase the resale value of houses owned later when it will be resold.

  1. Price

This is another thing that should be considered by the buyer of the house, because if home prices offered were consistent with the market price and then location in the city center is already a two advantages that buyers get.

But if my budget to buy a home is still far from enough, then do not push yourself. Buyers can try the selection of other home which is considered sufficient to finance owned. Minimal buyer had been able to set aside one-third of the income of every month to repay a home if they want to use the mortgage system.

  1. Side building construction

Do not easily believe the good home form and minimalist shape of his physique. Also check the construction of the building before the home buyer decides to buy. For example, by knocking on her wall would look crowded or not the material composition of the building with a brick or adobe. If according to buyer’s feasible, it may immediately decide to buy it.

  1. Choose a trustworthy developer

House acquired from a trustworthy developer will increase customer satisfaction, this is because many elements of rogue developers promising home that was purchased, but in fact the house was sold to another buyer. So that the house is owned by two customers, then do not let the buyer gets the developers like it. The survey first name of the developer to be more confident decision-making.

  1. Looking for references and
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Budget Ideas for Staging Your Home to Sell

In today’s over-saturated housing market, it is increasingly difficult to sell a home – which is why real estate agents talk about ‘staging’ the home to sell. The goal of staging is to beef up the appearance of the home to highlight its best features while minimizing any negative aspects of the home – and to create a feel that potential buyers can relate to. You want them to see themselves living in the home. The trouble with staging is that it can eat into your wallet. This article focuses on ways that you can improve the appearance of your home without spending a lot.

Start Outside

Your mother probably already told you that first impressions are the most important, and boy was she right! The first thing that potential buyers will see when looking at your home is the exterior, so you want to create curb appeal with an inviting lawn and other small details. These low cost improvements can help you put your best foot forward when appealing to potential home buyers:

  • Mow your lawn, preferably with a diagonal slant that makes it look more manicured.
  • Take advantage of the power of yellow to sell your house by planning yellow flowers along the walkway or in planters by the front entrance.
  • Wash all exterior windows and sills.
  • Paint your front door an eye-popping color, like red.
  • Rent a power sprayer and spray the entire house to rid it of cobwebs and dirt and to give it a freshly painted look without the paint.
  • Place a new welcome mat on the front steps of the home.
  • Buy a new mailbox and invest in good lettering for the side.
  • Buy a plaque that bears your house number and display it near the front door.
  • Make sure that all of your outside lighting fixtures are working and in good condition; also make sure that there is adequate lighting for the outside should someone view it in the evening after work.

Rid Your Home of Clutter and Excess Furniture

Does your home contain too much furniture? Too much furniture can make any room look smaller, and you want just the opposite effect when trying to sell your home. Two to three pieces of furniture is all that you need in any room when you are showing a house; anything above that should be placed in a storage unit.

Clutter can be a real distraction when selling your home and it also sends a message to the potential buyer that you really could care less about your home – making them wonder if you have taken care of it over the years. Clean out your closets, pack up your books, rearrange your kitchen cabinets; in essence, remove all non-essentials and place them in storage or if you don’t need them, donate them to charity. Remove all personal items like photographs and replace with general artwork; you want the potential buyer to envision themselves in the home, not to wonder about the people who …

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What Are The Factors That Will Affect The Property Values In Malaysia?

First of all, the location itself is the main factor that will affect the property values in Malaysia. If a property is close to school, shopping mall, bank, transportation facility, hospital, restaurant, church, temple, airport or any other places that can provide convenience to the people staying at that area, that particular property will definitely has a high property value that will attract more people than any property.

When it comes to real estate, the principle of supply and demand refers to the ability of people to pay for real estate coupled with the relative scarcity of real estate. The property values will be driven up by the condition of high demand coupled with a certain purchasing power and a short supply due to the scarcity of land. In contrast, the property values will experience a drop when people demand less of it while more supply enters the market.

Let’s take for example Penang, being the second smallest state in Malaysia just after Perlis in terms of geographical coverage yet is the eighth most populous with 1.56 million of residents according to the population and housing census, Malaysia 2010 which is conducted for every ten years. Penang which has an average of 1, 490 persons per square kilometer is the second most densely populated states after Kuala Lumpur. This high level of population density puts competing pressure on land use which results in the rise of property prices as developers will put more expensive price tags on their projects due to the high-land costs. Besides, the lure as a tourist destination and a second home for foreign retirees is also one of the factors that results in a greater demand of Penang property. As a result, the short supply due to scarcity of land and the high demand from both foreign and local buyers is the main reason why Penang properties price are high as compared to say, Kelantan.

Apart from supply and demand, the Feng Shui and Vasthu Sastra which is known as the “science of construction” also have to do with property values in Malaysia. Regardless of you believe or not, many recent studies have shown that the property price will still be affected by Feng Shui. A property placed near a body of water can fetch you a handsome price compared to a property which is not. A property faced with a road junction or built at a dead-end road can have a lower price as compared to another property in the same area which is not. Many people trust Feng Shui because they consider that keeping things related to Feng Shui will bring steady growth, prosperity, good luck, good health, happiness and positive energy to the house, office or to the being. In this way, people will consider carefully the position and placements of the property which in turn makes a well placed or well designed property more attention-getting and favorable.

Next, inflation also has an impact on property values in Malaysia. At its most basic …

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Hiring A Commercial Real Estate Broker For Leasing Office Space

It may seem like an arduous undertaking to consider renting office space for your business, especially if you have never done anything like it before. There are so many different listings available on the market, and they all very in leasing costs; all of this can be too much to handle.

Apart from the issue of considering all the available units, you must first figure out exactly what it is that your business needs, in terms of office space. All of this can be very overwhelming, as you attempt to find the best office space location for your business.

The thing to keep in mind is that you need not face all of these problems, as you try to find the most ideal location for your business. You can do this by seeking the professional help of a commercial real estate broker.

These commercial real estate brokers do their job just like real estate agents. The only difference is that brokers focus more on doing business with buyers of commercial space, as well as owners.

Commercial real estate brokers also work just like brokers, in that they serve to aid those that need help in locating the best office space for their business, given their budget range and conditions. These brokers are equipped with lengthy lists of owners of commercial space, and they are sure to help you discover at least two prospects that meet your requirements and budget range.

In doing business with a commercial real estate broker, keep in mind that you must be forthright about your budget range and conditions, and see to it that you enumerate everything that you want and need for your business’s office space. In doing this, you will be helping your broker help you locate the best units.

Request your broker for about three options, and ask him or her if he or she could set up a viewing schedule for these locations, and perhaps your broker can even arrange an appointment with the owners. Being able to see the units firsthand and talking about matters of concern with the owners should be able to guide you in singling out the best unit for your business.

As expected, it does not cost very little to afford the services of a commercial real estate broker. On the other hand, having the advice of a professional in these types of circumstances will be sure to alleviate you of stresses, as well as aid you in better transacting with owners.…

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Investment Properties – Loan-to-Value (LTV) Vs Debt-Credit-Ratio (DCR) And What Has Changed?

We are seeing signs that the commercial real estate market has bottomed out as users and investors cautiously begin buying value added commercial/industrial properties. However, lenders are taking a very conservative approach in underwriting these deals in today’s volatile real estate market.

Loan-to-Value (LTV) continues to play an important role in determining the loan amount and down payment required for the purchase. The appraiser plays a key role in assessing the value of the property and ultimately the loan amount. Traditionally, users/companies can expect to buy a property with as little at 10% down or a 90% LTV and investors can expect to put down 25 – 30% or a 70 – 85% LTV. This has not changed and is still the case today.

Users/Companies continue to gravitate towards SBA financing (Small Business Administration loans) which allows them to obtain a conventional loan at an 80% LTV with the SBA loaning 10% in a second position and the borrower having to put down only 10%. Obviously the company’s financials are heavily scrutinized and anyone owning more than 20% of the company must personally guarantee the loan. This has been and is still the case today.

Investors are having a much more difficult time obtaining loans to purchase income producing properties. Lenders do factor in the Loan to Value (LTV’s) on these loans as well as the investor’s financial wherewithal, but the biggest concern is with the property’s ability (income) to afford the loan payments. Debt Coverage Ratios (DCR’s) are now at the forefront in determining how much the lender will loan on the property.

In the past DCR’s were used to determine the loan amount for income producing properties but lenders were less stringent in allowing investors/borrowers to make an argument for future income (actual rents vs. market rents) in determining NOI (Net Operating Income). This, coupled with rising property value, had both appraisers and lenders being overly aggressive in projecting a property’s market value in which to base the LTV and that is what ultimately resulted in a lot of nonperforming loans you see today.

Case Study:

Earlier this year we recently represented an investment group buying an industrial building leased to a food processing company in the Vernon, California market. This is a single tenant building with a ten year NNN lease. The annual NOI (net operating income) was $141,000 with fixed rental increases every 12 months. The property was showing an 8% return based on a $1.74 million purchase price. The investment group had budgeted 25% down or 85% LTV.

The Lender analyzed the property in the following manner to determine the loan amount:

Gross Rents of $141,000
Less Vacancy of 10% or ($14,100)
Less Reserves of 3% or ($4,230)
Less Management of 3% of ($4,230)
Property Taxes to be paid by tenant
Property Insurance to be paid by tenant
Total Expenses ($22,560)
NOI was now calculated to be $118,440
A Debt Coverage Ratio (DCR) of 1.2 was applied to the NOI
Calculated Debt Service NOI / …

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How to Obtain Title For Abandoned Real Estate Through Adverse Possession in the State of California

What is Adverse Possession? How can I obtain title to real estate?

In a nutshell adverse possession is a process where a person or an investor can obtain the ownership or title of real property from another person because the owner has abandoned the property. This is done by simply taking possession of that property in the manner prescribed by state law.

In doing so, you can, literally acquire ownership or title of the real property for just paying the back delinquent real estate taxes and the cost to file a quiet title lawsuit establishing that you obtained title to the property through adverse possession. In other words, you can take title of valuable property for a incredible discount.

The Law of Adverse Possession

The laws governing adverse possession is local state (or, in Canada, territorial law); consequently an Abandoned property investor must look into the specific laws of a specific state or Canadian territory where the real property is located. Since the laws are different dramatically from jurisdiction to jurisdiction and can often be confusing, anyone wishing to take title to real property through adverse possession should contact a knowledgeable attorney before attempting to do so.

In order for you to begin understanding the requirements of Adverse Possession let’s look at a specific example. Below is a closer look at th California Adverse Possession law. We will use this law to identify and explain some of the more common terms used in Adverse Possession.

California Adverse Possession Law

Briefly, California state law states that Real Estate investors wanting to obtain title to another person’s real property through adverse possession MUST satisfy all the following Requirements:

1.That the Abandoned property investor’s possession was held under either (1) a claim of right or (2) under color of title:

2.That the Abandoned property investor’s possession was actual, open and notorious;

3.That the Abandoned property investor’s possession was hostile, adverse an exclusive;

4.That the Abandoned property investor’s possession was continuous and uninterrupted for a period of five years;

5.That the Abandoned property investor paid th real property taxes during that five-year period.

Possession must be held under either (1) a claim of right or (2) under color of title.

The California statutes governing adverse possession and as well as the statutes of most other states make a distinction between claiming adverse possession based upon a “claim of title founded upon a written instrument or judgment or decree” (often referred to as a claim under color title) and claiming adverse possession based upon “a claim of title exclusive of any other right, but not founded upon a written instrument, judgement, or decree” (often referred to as a claim as either a claim of right, see California Code of civil procedures Section 322 and 323. As to such claim under claim o right, see Code of Civil Procedures Section 324 and 325.

Basically a claim of adverse possession based upon color color of title is one where the claimant(Abandoned Property Investor) took in good faith …

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How To Be An Expired Listings Guru (Note: This Is 100% Legal)

The biggest mistake you can make in real estate sales is overlooking the ripest fruit.

Where is the ripest fruit in real estate sales?

Here is the list of the easiest targets for your quality, professional real estate brokerage services:

In order of COLD TO HOT prospects:

9. People hiding under random targets (cold calling, door knocking)

8. People you know (your “sphere”) (just slightly better than random)

7. People who have listed property with a competing real estate broker

6. People who promise someone they will list their property

5. People who promise you they will list their property soon

4. People who have listed, and are currently dissatisfied with their broker

3. People who, today, will drop their current broker and might look for a new one

2. People who promised to give you the listing

And the NUMBER ONE HOT PROSPECT is sort of almost a client already:

1. People who signed a listing agreement with you that is post-dated for the day their current listing agreement expires

I am sure this list could be fortified in many ways. In some of my writings on my website I let you know about some more prospects and how to get them. But for right now I want to let you in on a little-known secret.

This secret is information that most real estate salespeople would pay a lot of money to get, and I will give it to you free here.

The way to get this information is to log into the MLS system of your choice (Rappatoni, MLX, e.g.) and search the database for listings which expire within two weeks. NOT EXPIRING TODAY. That is too late.

Then, contact those sellers with a very plainly stated letter which says in BOLD CAPS: this is not a solicitation to list your property during the present time, but in the future, when NO OTHER LISTING MIGHT EXIST on your property.

Include a statement a listing agreement. Why? Because your sellers may be interested in selling their property still, if their current broker does not hold up.

Make sure you POSTDATE the listing agreement and put it in the envelope.

OK, the big question is….

…Is this ethical? Absolutely. Here is why.

From the REALTOR® Code of Ethics : Standard of Practice 16-4: REALTORS® shall not solicit a listing which is currently listed exclusively with another broker. However, if the listing broker, when asked by the REALTOR®, refuses to disclose the expiration date and nature of such listing; i.e., an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client, the REALTOR® may contact the owner to secure such information and may discuss the terms upon which the REALTOR® might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing…. – Emphasis mine

This practice is known as the Postdated Listing. It is a real contract, but its …

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Cheap Home Appraisals – 2 Ways You Can Get a Free Home Appraisal

If you are looking for a cheap home appraisal, or free home appraisal, then read this article. I will show you two ways to get your home’s value for free. In today’s real estate market you need to know the true value of your home before you list it for sale. If you are buying a home you need to know how much that home is really worth in a declining market.

Real Estate Agents – Using a local real estate agent you should be able to get a close estimate of the value of your home or property. Real estate agents have at their fingertips many tools that will give a fairly accurate estimate of your home’s value. What will this cost? Usually it is free. So what’s the catch? Well, most realtors will do this for you in hopes of getting your business. Should you let just any real estate agent do this analysis? I say no. You want to select a real estate agent that is familiar with your subdivision or area. You also want an agent that understands how the features in your home will either increase the estimate or decrease the estimate. Once you receive an home value estimate, then you should use the next method to verify that the estimate is correct.

Home Appraisal Websites – I like using some of the free online home appraisal websites, like HomeGain. HomeGain will give you a fairly descent estimate within a few seconds. All, you have to do is supply your address and a few details about your home. Click the button, and within a second or two you will have a free home appraisal. There are other sites on the internet that do this type of appraisal but many are not free. I suggest that you get at least two estimates from an online source and then compare it with a real estate agents estimate. This should give you a fairly good idea of how much your home is worth.…

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Four Strategies to Buy Rentals With No Down Payment

This tends to be a pretty controversial subject, and for good reason. When I was getting started in the business, I was young and broke and had no credit to speak of. I was not qualified to borrow money, yet I figured out how to buy properties, and I bought a lot of them. It was not long before I became a full time real estate investor, and on paper, I was a millionaire long before my 30th birthday. I accomplished this with a lot of hard work, education and tolerance to take the risk.

With all this said, just because you don’t need money to buy houses, does not mean you should have no money. I am a big, big believer in this. You see, although I was a millionaire at a young age, I basically lost it all when the market shifted. I was too aggressive with my growth, and did not establish an appropriate amount of reserves. After starting over, I structured things differently and am in a good position to not only survive a down turn, but to thrive in it. In this article, I will briefly walk through 4 ways to buy rentals with nothing out of pocket, but want you to understand that this does not mean you should own rentals with no reserves.

Owner Finance: This could mean many things, but for the purposes of this article I am going to assume that the seller of the home is extremely motivated and is willing to basically sell the house just to get away from the mortgage payments. This is commonly referred to as a subject-to transaction because you, as the buyer, will take title subject-to any other liens that are in place. What this means is you get ownership of the house, but the seller is still on the hook for the loan. You as the buyer will agree to either pay off the loan or make payments on the loan on their behalf. If you don’t, the lender can foreclose and wipe you off of title.

The seller is taking a tremendous amount of risk with this type of transaction, so it is difficult to negotiate and they need to be extremely motivated. It works well for you because you don’t need down payments or to qualify for a loan. It works for them because they have someone else making the payments on their loan, which relieves them of the payment pressure, and potentially can improve their credit. As you become more experienced, this is a strategy you will want to look into. This allows you to purchase an unlimited number of cash flowing properties without ever needing to qualify or sign for a loan.

Lease Options: This is the strategy that really worked for me when I was just getting started. I like it a lot because it is easy to explain to the seller and it is not difficult to get them comfortable with it. They still need to be …

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Some Advantages and Disadvantages of Buying an Older Home

A lot of people think that buying a new home has a lot of great advantages over buying an older home. These days, as the difference in cost between new and old homes become narrower, the question becomes more pertinent. What kind of advantages and disadvantages do you look at when thinking about buying an older home?

Let’s say for example that you’re looking at Mooresville homes for sale and are trying to decide whether or not to buy this gorgeous albeit old Mooresville real estate property. To help you decide, here are a few positive points with buying an older house:

1. Old style constructions – One of the beautiful things about old homes is the amount of meticulous labor that went into it. You’ll find a lot of old homes that still stand and are still beautiful precisely because of the craftsmanship that went into it. Old-style appeal, when further enhanced by regular maintenance, can really give a house a certain charm that’s noticeable. Dated architecture in popular styles of the period also has a lot more character. There’s really something special about owning a classically beautiful house.

2. Living near long-term neighbors – Old houses oftentimes come with long-term neighbors who grew up in the community. It makes for a good, family-oriented and oftentimes safer environment.

3. Some measure of security in terms of changes in the neighborhood – If you buy a house in an old neighborhood, zoning changes aren’t likely to change much over the years. This means that if you’re living in a largely residential and old neighborhood, it’s unlikely that too many commercial establishments will get included in the mix. Mostly because they don’t fare too well in old neighborhoods.

4. Spacious yards – Most old-style homes have houses that are built on large yards. This is because land was cheaper years ago. Having this much room can mean a great deal for you. It could mean additional space for the kids and the pets to romp about, or an additional garage or house extension, a gazebo or maybe even an additional building for a separate office or library.

If there are positive points, there are also some drawbacks to buying an old house.

1. Ongoing maintenance. – As with any kind of house, old houses require maintenance. Since they’re old and a lot of the systems and materials used may not be readily available anymore, maintenance can be more expensive than usual.

2. Repairing systems may be more expensive. – If there’s something that needs to be replaced in the wirings, plumbings, and the likes, it may be more expensive because the system is different from newer ones.

3. Smaller closets. – Old-style houses tend to have smaller closet spaces to accommodate bigger rooms and garages.

4. Often more expensive than new homes – Older homes are often situated near schools, mass transportations, and other important establishments. As such, they can be more expensive than new homes.…

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