Real Estate

Long Island Real Estate Market - It's Starting to Look Ugly

2008-09-26T07:21:00.005-07:00

For the Long Island real estate market, as we move forward into the abyss...no scratch that...

As we move forward towards certain doom...nope, not going there...

As we look toward the dark days that lie ahead...no, no...

As we look toward the future...(breathe)...there are definitely going to be some bumps in the road. Okay, that was much better. I recently went ahead and started taking a close look at individual towns throughout the Long Island real estate market and their last 30 days of activity. I focused on a few characteristics and I will share them in this article.

They are:
1. Highest-Priced Sold Home in the Area.
2. Average Selling Price in the Area.
3. Number of Units (houses) Sold.

I will be delivering an updated foreclosure report in the coming weeks, because ultimately, the situation with home values is going to be crushed by the wave of pending foreclosures throughout the Long Island real estate market.

The following is a breakdown of towns that I randomly chose to include in this article. If you want information on a specific town, not featured in the article - leave a comment or call me.

Town
Deer Park
$435,000 = Highest-Priced Sold Home
$345,267 = Average Selling Price
15 = Number of Units Sold

West Islip
$994,000
$478,308
13

Babylon
$618,000
$472,125
8

Farmingdale
$575,000
$379,265
17

Amityville
$725,000
$493,688
8

Huntington
$1,600,000
$581,597
39

Smithtown
$810,000
$476,556
23

Brentwood
$450,000
$278,735
26

Massapequa
$1,200,000
$481,940
34

Elmont
$450,000
$357,639
15

W. Babylon
$380,000
$313,091
11

Riverhead
[Only 4 closings in the previous 30 days - data insufficient]

Manorville
$495,000
$406,214
7

Mastic
$295,000
$214,472
12

Now after looking at these numbers, you can see that the amount of closings is significantly low. For example, in Mastic, New York, there are over 500 homes for sale. With only 12 closings in the last 30 days, that translates to less than 2% of the market selling. In Riverhead, New York, there were less than 5 closings during the last 30 days.

Additionally, in West Babylon, the average selling price for the previous 30 days was less than $315,000 and in Farmingdale, the average has dipped below $400,000 down to $379,265.

While some high end homes closed in towns like Huntington, West Islip and Massapequa, you can tell by their averages that most of the homes in those areas are significantly less in selling prices and, those homes that did sell for over 1 million dollars have lost significant equity value to sell at those prices.

With the continued increase of foreclosures throughout the Long Island real estate market, homeowners must take into consideration that it is not going to get better overnight. Anyone who wants to sell their home should know this information and take it very seriously.

Real Estate Management Code of Conduct

2008-09-26T07:21:00.004-07:00

Professional real estate management is practiced in a fair and clear manner only when the professionals involved follow a formal code of conduct. This ensures client satisfaction which is a very important element for the success of any business. There are certain ethical norms that have to be strictly followed by the assets managing executives.

Loyalty is a very important aspect of the attitude of the assets managing executive towards his employers and his clients. While safeguarding the interests of the client he should not compromise with the interests of his employing organization; and vice versa. There are many executives who compromise with their sincerity towards their employers and their clients to meet their selfish ends and make some fast money. The employing firms have their own set of rules which may differ from one firm to another. The professional real estate management staff may be directed to either give more weight age to the preferences of the clients or the employer, in case of any differences in opinion. They should never engage in any activity that is detrimental to the interests of their employers or their clients.

No client will want his private information to be leaked out to anybody. Hence, the assets managing professionals are expected to maintain confidentiality in their dealings with the client details. They should not leak out information about one client to another, even if it is for promoting the good reputation of the firm. If it is necessary at all to provide details on an official basis to some concerned staff, he should do so with the consent of the client and not otherwise. If it to be done without the knowledge of the client , the concerned professional real estate management executive should do so in strict adherence to the laws of the land regarding such activity.

The client has the right to ask the executive managing his asset to give him accurate information regarding his assets, at any point of time, without any notice. Hence, the executive should be prepared with all the client details. They should be neatly documented and should be in an auditable format. These records should also be available to the inspectors and other executives who need to access them for their work. However, the particular executive dealing with a particular client is responsible for safeguarding the documents of the client. He should not conceal any relevant information from the client. He should not distort facts while conveying them to the clients. The professional real estate management executive should not resort to any of these methodologies to convince the client. He should always give a truthful and frank opinion.

The assets managing executive should be very careful when dealing with the money of the client. He should maintain an exclusive account for each client and not store it in a common pool. All records pertaining to finances should be accurately made and recorded. The financial privacy of each client should not be compromised with at any cost. The monetary deposit of the client should not be used for the expenses of the firm or to meet the expenses of another client, whatever the emergency may be. If at all such a thing is to be done, it should be done with hundred percent consent of the client. The professional real estate management executive should not try to influence the client in any way, with distortion of facts, in matters related to finances.

Real Estate Office Management Tips

2008-09-26T07:21:00.003-07:00

The assets industry professionals are some of the busiest people of the working community. They deal with clients, prospective clients, and contacts and maintain their records on paper or electronic databases. They have a lot of deadlines to meet in short periods of time and as they have to simultaneously deal with a number of situations at a given time, they can be pretty haphazard in the way they organize things around themselves, which in turn increases the complexity of their work and reduces their efficiency. Following a few real estate office management guidelines will do them good

One of the foremost criteria for enhancing work efficiency is to work in a systematic manner. The first step in this direction is to identify the routine activities and the ones that are done under special circumstances and develop a working methodology independently for each of them. The routine activities should be organized well. The daily input, daily processed information and daily output information stores should be maintained well. The staff handling these data store should be trained on handling them in a formal procedural manner.

The real estate office management staff should design a concrete system to deal with data storing and processing, and following the system should be made mandatory for the relevant staff. This will ensure fast retrieval of data when dealing with clients. A good assets managing firm will always try to take precautions against any special situations that they might encounter. Hence, if electronic databases are being used, then it is always better to be prepared with backups as electronic systems are highly susceptible to viral attacks and technical failures.

A good way to eliminate chaos in the work environment is for the real estate office management firm to make individual job descriptions for all its employees. These job descriptions should be conveyed clearly in writing to them so that they become aware of their individual roles and work accordingly. Assigning a particular job to only one person and not to more people will eliminate confusion. If a job is too huge in quantity or is highly complicated one job can be allotted to more than one person. But in that case, the role that each and every member of the delegation has to play should be conveyed clearly by the team leader.

Real office estate management gurus opine that it is always better to make any modifications and up dates to the databases as and when required rather then take them up as a separate task later on. This error usually happens where paper databases are used as the modifications and up dates have to be done manually. But in the case of electronic data basing this problem is overcome to a large extent as the effects of a change at one point ripples across all the relevant areas of the database automatically.

Lastly, an important criterion of commendable real estate office management is to organize the physical workspace systematically. The tables should be kept neat and tidy. Storing files and paraphernalia should be done in a logical manner so that accessing them does not take a lot of effort and time. A neat, hygienic and organized workspace reflects an efficient working environment. Managing workplaces is an art and it reflects the personality and work efficiency of the people working in that place. It makes the organization efficiency wise trustworthy in the eyes of the clients.

Fire Island - International Visitors Find Dream Homes

2008-09-26T07:21:00.002-07:00

They just want to have their perfect place in the sun; the place where blue waters meet white sandy beaches, the place where International visitors of distinction can have their vacation dreams come true. Where else but on Fire Island, NY can they find what they are looking for in unique luxury vacation homes? Where else can they make a statement that they are part of an elite International set who know what they want and have earned the right to get it.

Fire Island offers a way for these International visitors to satisfy their desires and find the perfect home of their dreams. It hosts a number of small communities or villages nestled between the Atlantic Ocean and the Great South Bay off of Long Island, NY and near to New York City.

Fire Island is the kind of place where you can kick back and really relax. You don't even need a car because almost everything is only a short walk from the beach or fine dining and entertainment.

This vacation treasure on the East Coast of the US offers International Buyers of fine properties the opportunity to take advantage of favorable exchange rates in an economic environment that lends itself to making sound investment decisions, but it's not just about getting a good deal: it's also about finding the vacation home of your dreams. It's an all in one opportunity to get the best of both worlds so that you can feel secure that you are providing yourself and your family with a worthwhile experience of pure and justifiable pleasure.

The people that take up vacation residence on Fire Island tend to stay for years and in some cases from generation to generation because it provides a living experience of unparallel beauty and grace. This is just what International visitors are looking for. This is what many of them search the world for. This is a haven that can provide them with the peace and security that they cherish. This is what fine living is all about. This is the place to be.

Important Tips and Facts About County Real Estate

2008-09-26T07:21:00.001-07:00

The scope of county governments may occur from state to state. The relationship between incorporated cities and counties also occur from state to state. Generally, a county acts as a sub-division of a regional self government which is within a larger jurisdiction of a count. This originated in continental Europe.

In the United States, 48 out of the 50 states use the word county. This is according to the state government, the Federal or the territorial government as a sub-unit of a territory. A state should possess the facilities for populated counties such as:
• Airports
• Convention centers
• Beaches
• Harbors
• Public housings
• Museums
• And Hospitals

They need to provide the security of the people of the state, including the safety of their food. Cities occupy a smaller area as compared to a county which contains them. However, there is an exception to this rule. Considering that both a city and a county lie under the state law as a city, its county can merge so as to form a consolidated city-county.

A County Real-Estate's objective is to market properties via utilizing state of the art marketing tools, highest quality photography, most up-to-date technology, professional ethics and a strong company support system. The most common scenario includes the beaches and resorts. This is along with other luxurious and elegant properties.

For this type of real-estate, people specialize in presenting their clients with single-family residences, ranches and income property within the city. Here are some tips when considering a type of County Real Estate:
• Before finalizing your decision with a Real Estate agent, make sure you understood the different types of Buyer-Agent agreements. It may not show the property listed, and still requires representation by their agency.
• An exclusive buyer's agent presents properties that are usually not listed for sale. They can guarantee 100% loyalty from the first phase until the final decision making stage. Accepting dual agency will not be an issue here. Plus, there are no conflicts with regard to the interest. This agent has all access to all listed properties in the market. An example is the fact that the owner of the property can even get an exclusive buyer agent to sell its property.

Investing in a county real estate is one of the largest financial investments ever made. As an agent, they work for their clients in order to help them find homes and properties which the clients desire or dream of. Agents also work for their clients so as to protect and secure best interests for their clients by providing complete and professional guidance. Whatever the county real estate needs is a highly qualified county real estate agent who is able to simplify the process and bring years of experience to the client's corner. A county real estate is set apart from the competition that exclusively applies the use of intelligent ideas, intelligent service, and have unparalleled devotion to the intelligent representation of the county Real Estate. The most important decision a buyer makes is to ensure a successful purchase in a location, price or time. It's the agent they pick that guides them.

After the initial complimentary non-obligation consultation, you can contact some of the past clients about how they are provided with unbiased, straightforward opinion and analysis, along with superb negotiations and transaction management skills that go along with true advocacy.

Here are some other aspects in buying a property.
• Locate and evaluate the property that goes with your price range. Determine the offering price.
• Exercise a level of diligence on the proposed purchase.
• Do a negotiation strategy based on the competition and document as well as all the contingencies needed. Going through with this process and through a buyer agent's helps enable the purchase of the desired property at the cheapest and lowest "possible" price. This is with the terms being met in specific needs.
• An agent will be able to recommend inspectors that walk through the property, along with a professional. They will also provide guidance and suitable options throughout the negotiations, especially when a problem arises.

My Prediction For UK House Prices

2008-09-20T04:42:00.005-07:00

I've been absolutely inundated today with different Interest groups littering my inbox with their house price predictions. Here is a snapshot:

-Hometrack HPI - Annual house prices fall 5.3 per cent.
-Halifax HPI - Annual house prices fall 10.9 per cent.
-Nationwide HPI - Annual house prices fall by 10.5per cent.
-Land Registry House - price growth fell for the 11th month in a row in July.
-Bank of England Number of mortgages approved falls to new low.
-Rics survey - Over the last three months, the average number of transactions per surveyor has fallen to 12.7, the lowest figure since the property survey began.

In a nutshell, here are the facts you need to understand from this data:

First of all, there is no such thing as a UK property market. With Mars Bars the price is going to be pretty uniform across the country. With beer, the price is going to differentiate from bar to bar but stay within a certain band. Property is something else altogether. Take two identical houses next door to each other. Both vendors want to move. One vendor has no mortgage on his house and sells up for £90,000. Does this mean that next door will automatically sell for £90,000? The answer is no. It may be the case that the next door neighbour has remortgaged some of his equity. He may have a secured loan that needs to be paid off. He may have to achieve £98000 in order to have enough cash to use as a deposit on his next home. Just because one Newsagent decides to sell his Mars Bars at 10p as a promotion does not mean that every Mars Bar in the UK is now worth just 10p!

Prices will continue to fall. This House Price crash has been caused almost entirely by the increased difficulties in finding mortgage finance. At the moment banks just don't want to lend mortgages unless you have a seriously big deposit to put down. This situation will not carry on forever. Eventually, some bright spark will say, "wait a minute; we could make a killing if we helped out FTB's with some more creative finance!" At this point a light bulb will appear above all the Banks and Building societies HQs and the rush to lend will start all over again. Remember - it is mortgages that make banks money! It is mortgages that provide the profits that allow banks to give you interest on your deposits. It is mortgages that allow you to enjoy free banking. It is mortgages that keep bank employees in work. Basically, mortgages put food on the table. When the banks remember this lending will recommence in earnest - and prices will shoot higher than ever before. This situation will come about at some time in 2009, or perhaps take as long as 2010 - but it will happen, guaranteed.

Public Records on Home Sales - Where to Get Them

2008-09-20T04:42:00.004-07:00

In today's fast paced real estate world many people want to purchase homes in alternative ways and flip them, i.e., fix them up and turn them around for a profit. So that you do not pay too much money for the property it is very important to become familiar with your county's public records on home sales.

In order to do this you have to get your background information about the property in order so you must check out your local resources on public records on home sales.

Much of the information you need is now online so you can do your homework at home in your pajamas but your County Recorder's Office is an excellent place to go and familiarize yourself with their records. They are friendly and worth their weight in gold when you need what they have.

First you can track down the recorded documents on the property through your city Assessor or your County Assessor's office. In their information they will have the "book and page" of the recorded documents on the property: the mortgage, the Declaration of Value, a Ground Hazard Information sheet and other pertinent documents. The Assessor's Office can also tell you information about the property they acquired during their assessment procedure in order to establish the amount of property taxes on the property.

All of this information will be interesting to you when you focus on a property that you want to buy: you have to know how much was paid for the property when it was last sold, who presently owns it, especially if it is a foreclosed property. If the property is presently owned by the present buyers you may be able to go to them directly to buy the property rather than through a real estate agent or bank or foreclosure company representing the lender.

Another source of public records on home sales you will want to check is your local Sheriff's office to find out whether there has been a "Sheriff's Sale" on the property, the first step in the foreclosure process, where the property is sold at a Sherriff's Auction for the amount due to the lender or more. Typically the lender will buy back the debt at this point to ensure they maintain their ownership role in the foreclosure procedure.

When the information in question becomes recorded information, it is free and available to anyone in the public realm who wishes to obtain it. Public records on home sales are by their very nature free to access by anyone, so the public can track prices on sold properties, so anyone can know what a property sold for to compare it to other possible sold properties to determine a price for a house going onto the market.

Real Estate Market Analysis - What's Best For You?

2008-09-20T04:42:00.003-07:00

As a homeowner, in a changing market it is important to know your home's value. The value of your home is dependent on many different factors, some in your control and some out of your control. Factors that are out of your control in determining the value of your home include supply and demand, market conditions, interest rates, and the economy. Other factors in which you have some control over include, location, style, size, condition and amenities of your home. To determine the value of your home a market analysis can be conducted.

What is a Real Estate Market Analysis?
A Real Estate Market Analysis is a report of current and past market activity comparing your home with other similar homes in your area. The analysis enables you to easily compare the features of your home with others and to determine the best pricing strategy for the market.

Why get a Real Estate Market Analysis?

A Market Analysis is a very handy tool to use in a number of different situations:

1. Are you considering selling your home?

2. Have you invested or thinking of investing money in your home with expensive renovations and improvements and want to know if the value of your home has increased or will increase to reflect the changes?

3. Have the changes in the real estate market made you uneasy about the value of your home?
If you answered yes to any of these questions then you should have a Market Analysis completed on your home.

Who conducts Real Estate Market Analysis?

The best person to conduct a Market Analysis on your home for you would be a licensed real estate agent who is familiar and lives in and or does business in your neighborhood. In order to produce an effective market analysis the agent would need a tour of your home and know specific details of your home. Some basic questions they will need to know include:

1. Style of home (i.e., Ranch, Colonial etc)
2. Number of Bedrooms
3. Number of Kitchens / Eat in Kitchen
4. Number of Bathrooms
5. Dining Room
6. Living Room/Den/Family Room
7. Basement - Finished or Unfinished
8. Size of lot

Based off of the information on your home they will assess your neighborhood and compare similar homes in your neighborhood with houses currently on the market, recently sold or expired from the market. Based off the information they will compute the best pricing strategy for your home.

Most agents do not charge a fee for this service. They conduct the analysis as a courteous in hopes of getting your listing in the event you choose to sell your home. If you own a home call a local real estate agent and have a market analysis completed on your home today!

Tips in Selling and Buying Property

2008-09-20T04:42:00.002-07:00

Selling your home to buy new one is some how stressful and it is really a pressure that will burden your body in doing two things at the same time. You are not like superman that can do almost everything, we all know that we all have kryptonite that weakens us to do some things and no matter how you try it will really give us hard time to do it.

In a real estate world, buying is somewhat much easier than selling. Admit or not convincing people is really hard and on the other way you may give a person hard time to convince you buying their property. If you are selling your home at Miami real estate market and at the same time buying a home for your family using the money you have upon selling the home, this might give you long time to accomplish two tasks.

You need someone to assist you in doing this tasks, you might have call a help to your super friends and help you out with your problem. In a real estate business there are people who can help you out selling and buying a home. A real estate agent is what you need to accomplish these tasks. They do have experience in selling and buying home.

They can teach you different strategies on how to sell your home and help you out to look for a home that you can buy and have a great deal.

In selling your Miami real estate property, you need to let people that you are selling your home. You need some advertising strategies to let people in different places that you are selling your property. A big house for sale in front of your home is a good start; this will inform passers by to know that your property is for sale. Don't forget to include you contact details in the poster so that they can have an idea who and where to inquire.

In buying it is better to go to different market that has a lot of house for sale. If a place do have a lot of house for sale, chances are deals are good enough because competition is present on the market. So they might offer lower rates and you can negotiate more with their price. If you have a lot of choices there are a lot of options for you and your family.

But of course you need to sell your property first before buying new one, so you need to focus first on selling your Miami real estate property rather than looking for a home to buy.

How Much My House is Worth

2008-09-20T04:42:00.001-07:00

Have you ever wondered "how much my house is worth?" If you don't need to sell it and just want to know how much your house is worth, then it s worth whatever you say its worth. If for example an interested buyer comes up to you and says he wants to buy your house and asks you for what specific amount you are willing to sell. Then any answer could be right. You could price it a million dollars for all he cares, it is up to the buyer if he is willing to pay or not.

But if you need to relocate or you need the money badly, then that is another story. You should probably sit down on it and ask yourself and the experts "how much my house is worth". The buyers would not care for the sentimental and emotional value of your house. They would not care if your baby took his first steps in your family room, they would not care if you baked your first cookies in the kitchen; they want to know the market value of your house and that is what they are willing to pay.

Use comparable homes when estimating the value of your home, you can survey for houses in your neighbourhood that had been sold in the last 6 months and compare the prices. Find houses that are closely similar to your house in terms of size and the description of the property. Compare what your house has or does not have against the other houses. From there you can increase or decrease the price depending on added features you have or features you don't have. From there, you can have an estimated price for how much your house is worth. Negotiations of the price could come after you have settled on a fix price for your property. However appraisals, using comparable estimation, are not really an exact science.

Sometimes it is best to seek the help of a professional appraiser to ask how much your house is worth. This can be helpful if a prospective buyer doubts your estimation and can alienate doubt of the real market value. When consulting an appraiser, tell them about the renovations you made and the added fixtures you've added to make the price more suitable for you.

"How much is my house worth?" This is a question better asked to real estate agents who have sold homes within your area. Market analysis is usually free and they would work on commission only if they sold the house. Not only will you get your money's worth, it will also save you a lot of time and effort.

Living in London

2008-09-05T08:23:00.005-07:00

Life in London is tough. My friend moved to London after just finishing University. The experience is second to none but is it too much of a hectic place to live? Getting a job in London is hard enough to find considering there are so many people out there. My friend moved to a very central area of London called, Kensington. It is quite expensive to live and taking in to account that he doesn't have a job, it doesn't seem to make much sense! He has tried to find work through recruitment agencies and asking around but he hasn't had much luck! His flat is far too expensive for the little money that he is pulling in and everything from food to drink is way more expensive than anywhere else in the country.

As we studied together at University in Plymouth we both wanted a similar job in the design industry. Our course was entitled, 'Interactive Media' so web design was a great progression on from that. Instead of London I decided to live in Brighton. They call Brighton, 'London by the sea' and I would say it is quite an accurate phrase. Brighton is lively and full of culture. I have everything I need without the hassle of London. Jobs are easier to come by and the pay bracket is actually very similar to how it would be in London. So why put up with the hassle of living in London? I find London to be overcrowded and far too hectic for my liking but apparently that's where the money is!? Well I can tell you, through my experiences that is not true. Maybe sometime in the past it was financially beneficial to head over to London to pick up a bigger wage packet but I don't think that is completely the case anymore. Other cities around the country offer great jobs with great pay but without the hectic, polluted and busy life style. Additionally the cost of living away from London is incredible. The amount of money you save from not being in the UK capital is astronomical.

I swear loads of people go and live in London just to say, "ooohh I live in London!". It doesn't impress me in the slightest. In my opinion all the opportunities life has to offer can happen in cities outside of London too. It doesn't all revolve around it!

Qualifying Your Real Estate Agent - It's More Than Just Experience and Good Looks

2008-09-05T08:23:00.004-07:00

How do you qualify a real estate agent? Lets start with, where do you find an agent to work with. The most common place to look is at friends and family who know a Realtor or who have worked with one recently. Normally their experience is an excellent way to determine if you will get along with the agent. Another place to look is online, who has the best ads or website? Lastly, might be from a sign in a yard.

Lets assume you have found your agent and maybe you have found several agents to consider working with. Here are some great topics to consider when deciding who to work with.

Personality:
Admittedly, if a friend had a great time working with someone, I will probably enjoy working with them. And that is important because finding a home can drag out into a very long process and can involve some serious heart to heart conversations. And if you're in a relationship, when things get stressful, you're agent will most likely hear a lot of your heated conversations as you debate the homes. So make sure the person or persons you work with can be trusted and makes you feel comfortable in their presence.

Experience:
Experience isn't always the length of time someone has been in the industry. The reality is that 90 hours of school, a couple of tests and small monthly fee is all you need to be a Realtor. There are many Realtors who have obtained their license, helped one or two people buy a home and then they went back to their regular full time job, but kept their license active.

So how do you define experience?

Transactions Completed - trial by fire in the trenches is the best teacher, with no two transactions being the same, it is the completed deals that open a Realtor's mind to the possibilities for chaos in every deal.

Education - There are two types of education to consider with a Realtor. First, is the college education. Fewer than 50% of Realtors have a 4 year degree and less than 10% have a master's degree. The value of a degree varies from person to person, because each person will apply that knowledge differently, some won't apply it at all. From personal experience, having a master's degree in business has helped me greatly in operating and understanding the intricacies of a business.

The second type of education is the continued education in the form of designations and general continued education. Every Realtor is required to obtain 24hrs of continued education every two years, most will cram the courses into a 3 or 4 day course before their license expires. Which is useless knowledge. The good continued education is held in the courses taken through out the years as the market changes. For example, as foreclosures rise, good Realtors will be attending courses to understand the foreclosure market.

Designations are special courses designed to help Realtors advance their knowledge in certain areas and the designation documents their efforts in obtaining the additional education. The common designations are GRI, ABR, and CRS. It can often take over a year to obtain each designation.

Associations/Affiliations - while this is harder to document, the most relevant and up to date knowledge of the market is spread via word of mouth. Its the tips and tricks everyone learns through good and bad experiences (yes Realtors get sued) that makes agents sharp and on point. The best place to obtain this word of mouth knowledge is through continued education at all levels.

Real estate transactions a much deeper than simply putting an offer together and having money exchange hands. There is a large amount of work, liability and unseen challenges that are presented in every transaction. Make sure your agent is qualified and will do their best job representing you.

The Scientific Art of Valuation

2008-09-05T08:23:00.003-07:00

For as long as the lending industry has been in existence, the one granting the money has attempted to secure that loan by taking as many of the borrower's assets as collateral. In some cultures this meant offering such things as heads of cattle, flocks of sheep, or a daughter's hand. But determining precisely the "value" of these assets has always been somewhat subjective. What if the lender already has too many cattle to keep feed, or multiple flocks of sheep? The collateral you offer, in the form of cattle or sheep, will be of little value to the one doing the lending. However, if the lender has a marriage age son that is unattractive, and the borrower has a beautiful daughter, the perceived value of the collateral can be substantial.

Real estate is just another asset which is offered as collateral by those looking to borrow against it. The amount of money which a lender will offer in exchange for the securitization of that asset is directly related to its value. So how then does the lender determine the precise value of that asset to ensure that the underlying security for the loan is not worth less than the loan itself? The lender will engage the services of an Appraiser, an individual trained in the scientific art of valuation. Like in primitive times, judging the value of any asset is undeniably subjective. The question then becomes, "how does an Appraiser overcome this obstacle?"

There are three primary valuation methods used in valuing real estate: the Sales Comparison or Market Approach; the Cost Approach, and; the Income Capitalization Approach. Depending of the type of property being appraised, one or more of these valuation methods will be more reliable than the other approaches. Highest and Best Use analysis will also help the appraiser determine which appraisal method should receive the most weight in the final reconciliation of value.

Similar valuation tools are used in appraising cars, industrial machinery, timber, or business operations. The guiding light in the appraisal world is the USPAP (Universal Standards of Professional Appraisal Practice).

Despite the fact that the appraisal industry has prescribed methods and tools to measure and weigh various aspects of real property, and to analyze and scrutinize the real estate rights, many of these tools require the appraiser to use judgment, intuition, experience, and first hand knowledge of the markets they serve. There is NO substitute for primary source market evidence, and the expertise needed to properly analyze it.

How Much Money Can You Make in Real Estate? The Question Answered

2008-09-05T08:23:00.002-07:00

Lately, many people have asked me the question: how much money can you make in real estate? Countless people turn to real estate because the potential profits are much higher than one typically finds in corporate America. Additionally, each individual who delves into the real estate industry has control over his bottom line, instead of having to continually ask their boss for a raise. For these reasons the industry attracts many entrepreneurial minded people.

Yet the question remains, how much money can you make in real estate? All one has to do to find the true answer to that question is look to the likes of someone like Donald Trump. The income possibility truly is unlimited. But most people who are asking that question aren't looking for that type of answer, they want to know what the realistic income potential is for someone who enters the industry and applies themselves diligently to becoming successful.

Unfortunately, in today's economic climate the income potential isn't as high as it once was. Many people in the real estate industry are even looking for other avenues to create a stream of income while the real estate market sits idle. A great number of these individuals are turning to the internet to see if there is a way they can turn a buck online.

What they are finding is quite surprising. Most people know that the potential to make money online, with how many people the internet reaches, is truly limitless. Yet the vast majority of people have no clue where to start. The only ones who do end up figuring it out learn from someone else who has previous experience making money online. These people are finding that the internet possesses a virtually limitless amount of income opportunity once they learn the ropes. So while the outlook for profiting in the real estate industry is currently very dim, entrepreneurial minded individuals can still turn to other outlets to make a great deal of money.

Do Your Own Real Estate Inspection Like a Pro

2008-09-05T08:23:00.001-07:00

Real estate property, like any other good for sale, comes in all conditions. But the average home or real property costs 8-10 times or more the amount of other high ticket items. That's what makes it an investment rather than merely a purchase. Essential to ensuring it's a sound one is getting a thorough inspection. Write right into the deal that any offer is contingent on a satisfactory inspection. And what constitutes 'satisfactory'...?

Assuming the property contains wood, first and foremost is a separate termite and pest inspection. Most 'home inspectors' don't check for this, concentrating instead on mechanical and others aspects. Termites, carpenter ants, even mice can weaken walls and floors, chew through wiring, and ruin attics and shelving.

Professional inspectors check every aspect of a property and structure.

Starting with the foundation, they look for large cracks (almost all have minor ones), check for level ground, and influx of water. Evidence can show up as efflorescence ?a white powdery material which indicates penetration points, mold or mildew (black stained areas). Some will use lasers to check level and cracking and some even use meters to check for radon gas concentrations.

Houses sit on top of foundations and that flooring has to be inspected for proper joints, angles, and materials used. From those floors rise walls which are similarly subject to incorrect framing and potential water damage. Inside the walls, plumbing and electrical systems are inspected for damage, non-code compliant construction, or simple age or wear. Any leaks are noted and pipes inspected for rust, lead, or other chemical concerns. Flow rate and pressure are sometimes measured.

Electrical systems get a thorough review, checking for faulty wiring, uncovered switches or receptacles, incorrect grounding, inadequate circuit breakers, or bad GFCI trips. The latter are those little red buttons often seen in the middle of outlets. They are somewhat like miniature circuit breakers built into the receptacle itself.

Working up to the attic, framing is checked for angles and strength and the area checked for air or water leaks or damage. The underneath of the roof is examined for tears or holes in papering and proper seal where vent pipes protrude outside.

Up on the roof the inspector will check for holes, loose tile, bad flashing or any other weakness that leads to lack of protection against the elements.

Around the house outside all faucets are tested for leaks and proper flow, inside all heating and air conditioning systems will be checked for duct leaks, filter condition, and adequate capacity and flow. Thermostats get a thorough going over.

Any inbuilt appliances, such as stove and water heater are checked for compliance with standards. Installed propane or wood stoves and piping are checked for physical integrity and proper function.

Carpets are checked for inappropriate levels of wear or damage and tested for mold or water damage. Any paint damage, particularly due to water infiltration, get noted.

All these items, and many more, are noted on a report available to whomever ordered and paid for the inspection. To the potential buyer, defective items can be used as bargaining chips when negotiating price and other terms of sale. But the inspection can also benefit the seller by allowing for the opportunity to repair or improve items before putting the property on the market.

To either party, an inspection for a few hundred dollars can save thousands during the process. Information isn't just power, it's money, too.

Black Homeowner Warning - Shelf Life of Information Shrinking Fast

2008-08-26T08:39:00.001-07:00

Here's 3 Powerful Ways To Keep Informed In A Fast-Paced World.

1. The Internet - There has never been a need for you to keep more informed than now and the need grows daily. Fortunately it's never been easier for average people to keep informed ... if you know how and where to look. The internet is the tool for the information age. Anyone who is not using it will be like a person trying to play basketball with one arm, you're limited in what you can do. Worst of all you'll have to wait until others give you information, by then it may be too late to benefit from it, that's how fast information will come ... and go!

In the past if you were a homeowner you usually only had to discover a piece of information once and that information stayed the same for years. But with today's volatile financial and housing market information continues to change almost by the day or even hour.

That's why it's so important to stay informed more now than ever, especially if you're a homeowner. Black homeowners continue to be one of the least informed racial groups on important issues such as financing, loan rates and financial planning .

The information void will not only hurt today's Black adults it could pass on to the next generation if the trend doesn't change. Yes, information access is the new Civil Rights movement for African Americans in the information age.

As we grow further into the information age, the most informed will have the most power to solve and avoid problems in the future. That's why it's important you continue to find sources that give you current and accurate information like this one. Why? Because the only way to make accurate decisions is to have accurate information.

But beware, because accurate information that's old or outdated is not only be useless but dangerous. For example, what if you were still living by the old information about lead paint, asbestos or sub-prime lending rules. Yes, staying informed and updated continues to grow more important by the day.

Gone are the days of a homeowner buying a home, sitting back and living happily ever after. The current housing industry rules, policies and information continues to change so fast many experts find it hard to keep up.

Here's a new flash ... You can't always depend on the government to keep you informed and updated. If you don't believe me ask the many Hurricane Katrina victims, many who are still waiting for government responses to questions, complaints and for aid.

2. Search Engines. - The backbone of the internet when it comes to research and information is the search engine. At no time in man's history has there been a more efficient tool for gathering information quickly. A search engine is a web site that collects and organizes information. Most people use them to answer questions or find the solution to a problem, or even check the background of a company or individual. We've all heard of the popular search engines such as Google, Yahoo and MSN, but did you know there's thousands of specialty search engines and dozens popping up everyday. For example, search engines for home improvement, real estate law, real estate brokers, home repair, etc. There's even dozens of shopping search engines, travel search engines and more. There's a search engine for almost any topic you can think of and some you can't.

3. RSS Feeds. - RSS stands for Rich Site Summary. It's a method of keeping updated on fast changing information on specific topics. More news and information sites offer fast changing information as an RSS Feed to anyone who wants it.

RSS Feeds allow you to easily stay informed and updated on subjects or topics of your choice, because the information comes to you hot off the press, so-to-speak. An RSS Feed saves time for busy people because you don't have to visit websites to get information, the information comes to you.

Four Guidelines To Getting The Most Accurate Information.

Conclusion - The challenge to Black homeowners in this economic climate continues to depend on each homeowners ability to stay informed and updated. With news changing so fast it's easier for out-dated information to blindside, surprise or leave you unprotected.

News continues to come so fast now, most news professionals can't keep up. It may surprise you how more news organizations depend on average citizens to provide the news to them. In fact, most news organizations have hot lines and websites where citizens can send their own videos and photos to news organizations as it's happening.

Because most news organizations have swamped schedules, you'll have to fill in the gap and start being your own news reporter. That means learning to do more of your own research and information gathering. Although there are a multitude of ways to gather information, the three mentioned in this message is the most efficient and effective for the average person.

Yes, in this increasingly fast paced information age there will soon be only two types of people. Those who keep up with what's happening and those who wonder what happened, which will you be?

Boca Raton - The Place to Live

2008-08-26T08:38:00.003-07:00

It is a year-round community that offers a full compliment of recreation, entertainment, shopping and dining opportunities. Its one of the most expensive, well-maintained cities in southern Florida; known worldwide as a beautiful and cultured American City. Is a feast for the senses, rich in arts and culture, a city where celebrities, as well as food, tennis and golf, are a way of life. Accessible by virtually any method of transportation. It is a city of beautiful landscaping, parks and beaches.

Most residents and visitors do not realize that it is a restored beach. Families enjoy the action on the Delray municipal beach. There is plenty of things to occupy time such as surfing, windsurfing, volleyball, and boating and the beach is equipped with restrooms, lifeguards, and adjacent restaurants.

From gated golf communities to waterfront or inland condos, to multi-million dollar oceanfront land, estate houses, luxury hotels, condos and townhouses In a state of perpetual growth and expansion, Boca Raton's residential real estate is in high demand. Boca Raton is a popular real estate choice for both Florida residents and newcomers because it provides the opportunity to enjoy big city culture in a small closely tied community.

The strict development code has resulted in several major thoroughfares without large signs or advertisements in the traveler's view. From its early offshore pirates' battles and the trail of Spanish galleons in the late 1700s, to its later role as a major travel destination, The area has enjoyed a long romantic history. Having the perfect year round climate, it offers countless amenities boasting of sensational beaches, rolling hill golf courses, museums, art galleries, specialty boutiques, and five star to casual dining offering the finest cuisines. For golfers, there are 145 courses in the area, where it is never too cold to play golf.

It offers a lifestyle that is as stimulating as it is attractive, through a diverse and caring community that is energized by issues, dedicated to sensible growth, and committed to preserving the future. Boca is a luxurious resort community and, for some, the only place worth staying in South Florida.

Realtor Loyalties

2008-08-26T08:38:00.001-07:00

Realtors have an important role when it comes to buying and selling real estate. It is their role to bring buyers and sellers together. Without the assistance of local realtors it would be much more complicated to complete a real estate transaction.

Realtors Represent You

Selling or buying a home involves a large sum of money, sometimes millions of dollars. While there are real estate transactions that seem to run smooth as clockwork there are others that wind up being complicated and full of legalities to overcome. However, there are ways to help protect you and your interests.

Selling

When selling a home you should utilize the services of a local realtor. It is important that your interests are put first and protected. A realtor and/or the brokerage firm that represents you has the fiduciary duty to protect your position and interests, unless otherwise stated. It is important to talk with your agent concerning what their responsibilities are and how they will protect your interests. The contract between seller and agent is commonly referred to as "seller agency".

An example of how a realtor will protect you when in such a relationship is in existence is by not telling potential home buyers why you are selling the home and if you offer any concessions in price. Of course you may choose to allow this type of information to be disclosed but many times you save it for the negotiations.

Buying

Similar to "seller agency" is "buyer agency". This type of relationship is between the buyer and realtor but the same principles apply. Under this type of agreement the realtor represents the buyer. Information is kept secret to protect the buyer's interests. Also if the realtor finds valuable information concerning the seller and the property that is not being disclosed they are obligated to inform the buyer.

Often times home buyers don't enter into this type of agreement but there are times it can be beneficial. The only thing it costs is commitment to that realtor, however time frames can be set in the contract.

Realtors work hard to earn their commission, whether helping a buyer or seller. They drive buyers around town, buy an occasional lunch, and research the market. When buying and selling real estate it is important to know your rights and where the loyalties lye of the realtors involved.

How You Can Apply Stephen Covey's Seven Habits to Your Real Estate Business

2008-08-26T08:37:00.000-07:00

These ideals are important to conveying authenticity and building trust. Covey's ideas are crucial to improving communication and building relationships at the office and at home. Stephen Covey explains two important concepts, empathetic listening and synergy. I have had experiences at my current internship and in past careers that provide memories for reflection in these pivotal categories. My experiences in both categories have had a tangible impact on my current situation and my plans for the future.

In the mortgage business, it is common to come across customers who have had poor experiences with lenders. A most recent customer fell into this category. While taking an application, I could sense weariness on the part of the customer. Through probing, I was able to unravel the nature of her past experience. The customer was apprehensive due to paying outrageous closing cost in a previous deal. This particular conversation relates to Covey's message on listening. If I was too ambitious about selling a new loan, I would not have been able to understand the concerns of the potential borrower. Through effective listening, I believe the customer felt at ease with moving forward.

This lesson combined with the teachings of Covey can help people deal with future sales by helping people to probe and listen to determine the previous experiences of the customer. A good salesman will empathetically try to understand the true needs of the customer. Through empathetic listening, I will be able to create synergy at the work place and at home. Creating synergy at home is extremely important to a successful career. It is widely proclaimed that, "Behind every great man is an even greater woman". Maintaining relationships depends heavily on effective listening. I increase the likelihood of a healthier and happier life by incorporating these efforts into your personal life.

The lesson of empathetic listening will have an impact and add value to anyone's career. Furthermore, the lesson will result in success in any field you pursue. By working to be an effective listener, you will learn to address the needs of people around me and build strong relationships. In addition, these listening habits will help build synergy at home. Because you will have a strong relationship at home, you will have more success in future career ventures. The support will help you through the tough times that everyone encounters.

As an example, while working at First Mariner Bank, I have seen several examples of all of Covey's habits come into play. Recently, I have been enacting behavioral changes consistent with the lessons of Habit 7, "Sharpening the Saw". I have recently started working out and eating healthier. I have also removed myself from playing online games and watching television and dedicated extra time to reading. I have found that my memory skills and speech patterns have improved. I have more energy on the job and spend less time drifting. All together, I believe by eliminating television I have eliminated the greatest obstacle to mental proficiency.

Gender issues are common in the mortgage industry. Many residential loans involve two people, husband and wife. Most loans require salesmanship towards both parties. From my experiences, I have learned that it is extremely important to bond with each party. These skills vary on the personalities of the customers. In general, it is better to talk sports with the husbands, and talk of family stories with the wives. Your career plans cannot wait long. The experiences you learn in the workplace are as important as any of life's lessons and leave you prepared for the continued career search. You should completely enjoy your work experience, classroom dialogue, and readings. You should look forward to a fulfilling career that utilizes the lessons learned in the workplace.

Buying a Home Vs Renting a Home

2008-08-26T08:36:00.000-07:00

The decision to buy or rent is a very important question being asked by many potential homebuyers trying to achieve the dream of home ownership in today's turbulent real estate market. There are a few things to consider when considering taking that leap into home ownership and get out of the renting situation. There are of course the obvious benefits of home ownership over renting in which home ownership includes a building of equity, tax benefits and the comfort of knowing the lease will not end, as long as you pay your mortgage.

Almost everyone would like to, at some point in their lives own a piece of real estate and that is more pronounced here in Hawaii where real estate is limited since we are on an island. Land is expensive and space is limited. There is no building out into the suburbs as other major cities might do. Our suburbs are 10 miles west to Kapolei, Ewa Beach and the Waianae coast. There may have been a time when a young adult could save up 20% for a down payment and purchase a small home a few years out of college but, in today's real estate market in Honolulu, 20% is about 2-3 years salary for young people starting their careers. The more common real estate solution for Hawaii's young people is to get a few friends together to rent a condo, townhouse or apartment. The thought of purchasing a home is a far off dream reserved for "when they start making good money". Unfortunately with Hawaii's high costs of living (outside of real estate) is high as well so, the cycle of renting perpetuates much longer than expected.

Home ownership in Hawaii really has become the dream and can be difficult to make into a reality unless some really difficult but, important decisions are made on the part of the soon to be home owner. The first thing is to make the decision to buy real estate and focus on developing a plan to do just that in a specific and realistic time frame.

The first thing to do is to do an analysis on your current financial picture including income from all sources and all outgoing expenses. A great way to track spending and expenses is to get receipts for everything for 3 months and keep them all in one place. Go through them all and put them into specific categories so you know where your money is going. This will give you a clear financial picture so that you can begin your plan to save, save, save for that perfect piece of Hawaii real estate.

The next thing to do is to talk to your lender about getting pre-qualified for a mortgage. Your loan officer or mortgage broker can give you an idea of what you can qualify for as far as loan amount. Although we have experienced an explosion in 100% financing options in recent years, it is recommended to have 10-20% down payment. This would help should you find the need to sell quickly. It is less likely that you will be upside down on your mortgage, avoiding a short sale or foreclosure.

Once you have your down payment plus for closing costs associated with loan closing costs and escrow closing costs, it is time to start looking for your dream home or at least your first step to your dream home which could be a dream condo.

The Real Estate Agent Income Crisis - There is a Way Out

2008-08-17T00:25:00.000-07:00

Many real estate agents are suffering financially. Possibly this is you. It is unfortunate but houses are selling much below their value and are staying on the market for months. There are more sellers than buyers and there is no relief to be seen in the very near future.

People are struggling; struggling to pay bills to pay debts. The real estate industry is a tough market to be in right now. Possibly you have been wanting to find a way to get you through.

One of the best solutions is to start a home business. There are many tax advantages and you have the benefit of writing off many of your household expenses at tax time. It is also flexible. Something you can do while still being a real estate agent. Maybe something to tide you over until the economic situation improves or maybe something that permanently creates an income for you. The key is to find the right business. One that is recession proof.

We have chosen to build a recession proof business and are helping others to do the same. When searching for any home business there are some critical evaluating tools you need.
Want to Work from Home? Have you considered These Crucial Evaluating Tools?

So you have decided that you would like to work from home. Maybe you want to stay home with your children, maybe you want money for that extra special something or maybe you want to create financial freedom. Maybe you just need to pay your bills and pay off debt. So you know your reasons why. This is a great start but now what?

It is easy to want to jump into the first thing that comes along. Something may sound good on the surface, so you should jump right in, right? Wrong.

There are several key factors that anyone and everyone should consider when deciding on what business would be right for them. Ensuring you have thoroughly researched the opportunity can save you a lot of money, a lot of time, and more importantly, a lot of heartache. I have heard too many stories of people going broke trying to find the right one. I even know someone who has tried 23 opportunities before finding the right one. Can you imagine?

The first key in researching a business is knowing what features you should be looking for in a company. You will definitely need to know the following:

- Is there an established track record?

You want the company to be at least seven years old - successful home-based business companies experience a surge of growth in their first 3-5 years, but most cannot support the increased capital and organizational needs this growth demands to continue their success. Be wary the person who says "this is a ground floor opportunity" or you need to "catch the wave".

- Is the company financially sound?

You should be able to get access to this information. Another great way to know if a company is legit, is trustworthy and has integrity is if they will let you see their previous years' income statistics. If they're not willing to share what their business people make, do you really think they're doing that well. And I don't just mean the top earners, find out what the "little guy" is making.

- Do they have a strong management team and company credentials?

Beware! There are some companies out there who are "touting" scientists behind their products that have received their degree by mail order over the internet. Do your research! What is the history of the management? What awards have they received? What does the Better Business Bureau have to say about them?

- Does this company have unique, consumable products that are guaranteed?

There are companies that have only one product. How many of that one product do you think you have to sell to make any money? If this is a luxury item, you most likely won't get repeat sales from the same person which creates much more work for you. If it's a hobby, you are looking at the same thing. The product should be something that a person goes through and needs again fairly soon, preferably monthly. These products should also have a 100% guarantee.

- Does this company require that you keep inventory or 'front end load'?

This is a very fast way to the poor house. I know lots of folks who have garages full of products. You may think it will be easy to 'unload' it but it's not. Make sure the company does not require you to have stock or inventory.

- Is there a low personal production requirement?

Essentially, this means how much of their product do you need to order to stay in business? If they are asking you to order more than you would use, then you guessed it? Straight to the poor house for you.

- Is there a high customer re-order rate?

Some companies have a re-order rate of only 5%. Does this tell you how hard you will have to work to win customers and keep them? Again, if the company won't give you this information then they have something to hide!

- Is there low initial investment?

You should be able to get started in any business for $500 or less. In addition, any investment should be guaranteed. Any more than that and the risk sky rockets.

- Is there low attrition?

If more than 10% of the people are leaving every month, what does that tell you?

- Is there breakaways?

No breakaways!!! What that means is that you work really hard and then when you reach a desired level, they have the rest of your team "break away" from you and you start all over. Does that sound like what you are looking for? Know the compensation plan. You should be able to earn an income from each person you offer your product or service to. No breakaways, no balancing sides.

- Does the company have any risk?

Risk is a 4 letter word. It has its place but not in your business. This is your life. There should be no risk. You should only be using products you would use anyway, and there should be a full guarantee on everything. If this is the case, there is no risk!

Alright, so now that you know what is important to look for in the company, what product concept makes the most sense, you ask?

REPEAT Consumables (necessity items) and I can't stress this enough. This is a 200 billion dollar industry. People must already want or need to buy the products. It is much easier to interest people in something that is better or less expensive than their current brand than it is to get them to buy something new that they hadn't considered before. The concept of "switching stores" works best because people spend "no new money", they just switch brands. Durable goods won't generate residual income because people won't buy each month.

The products should always be competitively priced (have a low cost per use). No matter how well people like something, they won't stay customers forever if the product costs more than the store bought equivalent. Since commissions depend on customer purchases, the longer they stay, the more RELIABLE your income. The products must also be unique and exclusive to the company. It is of benefit if there are patented products that have been scientifically developed. The re-order rate should be above 90% and it has to make sense to just be a customer, continuing to buy the products without being a business builder.

Lastly there are a few more things that you may want to consider. Does the company manufacture its own products? Does the business offer a system that you can duplicate for success? Does the organization provide you with free training and support? Do you have to leave your home to build the business? Do you need experience in sales or business to be successful? Can you make enough to replace your income? What are the tax advantages to owning a home-based business?

Celebrities and Their Homes

2008-08-17T00:24:00.000-07:00

Celebrities are big spenders in the fashion industry, motor industry and real estate as well. It is not always a success for all of them. Some have created their wealth and have maintained it for a good period, while others have shot to fame and lost the wealth that comes with it within a very short period.

Celebrities and their homes

Zillow, a company that performs rankings on real estate for celebrities, stated that Windermere listed a home in a neighborhood called Leschi for sale. It is to be sold for slightly over one million U.S dollars. Jimi Hendrix is said to have lived in this house.

Katherine Heigl, a star in the Grey's Anatomy series, plans to sell her home which is in Los Angeles for a total sum of about 1.7 million U.S dollars. She had bought this lavish house in the year 2006 for about 1.5 million U.S dollars.

Oprah Winfrey estimated her condo in Fisher Island, Florida, to be two million U.S dollars. Her condominium is not as lavish as would be expected of a house that costs that much, though location also counts when determining its worth.

Kiefer Sutherland's Silver Lake house cost him 4.895 million U.S dollars. He transformed the warehouse and made it his home. His taste and superiority in the Real Estate industry clearly indicates his status in society. Kiefer does his recording in his high quality studio from the comfort of his home.

Sylvester Stallone, a Beverly Hills inhabitant, purchased two mansions in an area called Thousand Oaks. One was estimated at 5.5 million U.S dollars while the other was projected to be 1.7 million U.S dollars.

Cary Grant's Daughter, Jennifer Grant, has her home estimated at 2.195 million U.S dollars. Another celebrity, Angela Bassett put up her French home for sale at a price of 3.8 million U.S dollars. By the time of the sale, the house had depreciated by 1.1 million. Chris O'Donnell, an actor, had his home sold for about 5.3 million U.S dollars. Rachel Zoe also had her house sold for 2.5 million U.S dollars. It was a two-bed roomed apartment situated in the Hollywood Hills.

There are quite a number of celebrities in the entertainment industry who made it big at some point in their lives but ended up bankrupt. Gary Coleman is such an example. This leads to demonstrate the importance of managing ones finances however small or large the income.

Realtor Conflict of Interest - The National Association of Realtors Should Reimburse the American Ta

2008-08-17T00:22:00.000-07:00

The proposed settlement between the Department of Justice and the National Association of Realtors of the antitrust suit includes the agreement that the National Association of Realtors will no longer block the ability of virtual office (Internet) brokers from the use of the Multiple Listing service.

This agreement certainly sounds like the government has proven the case against the National Association of Realtors and the National Association of Realtors has lost the fight.

The question is at what cost and who ultimately will pay these costs?

This settlement should include fines and or penalties that should as a minimum completely cover what ever it cost the government to prosecute this case. Nothing, absolutely not one dime should come out of the American taxpayers pockets to pay for any related expenses in this case.

The National Association of Realtors is an extremely wealthy organization and their motives for blocking the use of the Multiple Listing Service were done for purely selfish money driven reasons. They need to pay for their own greed.

The public voiced its opinion recently that Real Estate Agents were one of the most distrusted professions. It is small wonder they feel that way when the National Association of Realtors President Richard Gaylord attempt to deceive the public with his press release that the settlement is a victory for the public. It was never about the good of the public. It was always about the survival of his association.

Let him say what he will but I say it is only a victory if the National Association foots the entire bill!

James Joseph has more than than 25 years experience in the Real Estate Industry. As a Principal, Builder and Developer he has purchased and sold hundreds of properties and he has Brokered many, many other transactions.

In his soon to be published book "The Real Estate Revolution" he demonstrates how the shift in focus of the marketplace to the Buyer has all but left the Seller as an abandoned class, without the benefit of proper representation by the Real Estate Community.

How To Accept - And Love - Your Mobile Home Park Utilities

2008-08-17T00:21:00.002-07:00

When you first buy a mobile home park, you are a little terrified of your water and sewer system. "What if it breaks down?" you worry. "Can I afford to fix it?". "Will my tenants get mad and leave if the water goes out for a couple days?".

One of the key things to remember is that each mobile home park's utilities has its own personality. Just like people, all utility systems have their own strengths and weaknesses. The key to living with your utility system is to recognize it's unique "personality" and to accept it for what it is. Here are a few of the different utility systems and their typical strengths and weaknesses:

Metal Water Lines

Burying metal in the ground is not a great idea. Metal rusts. So metal water lines are a time-delayed disaster. But how much time do you have? In some cases, a whole lot. I have seen metal water lines that have virtually no corrosion despite the fact that they're 50 years old. If you think about it, virtually all the water lines you can think of (unless you live in a brand new subdivision in a town that was entirely built in the 1990s) are made of metal. And everything seems to be O.K. Sure PVC is better, but metal can be just fine. And there's nothing you can do about it. Can I sleep at night with metal lines? You bet I can. I have had little trouble with all my metal lines, and I can definitely be proud of them with all their faults.

PVC Water Lines

If you have PVC water lines, you are a very, very fortunate person. There are very few parks out there that have them. They are the best. Nothing else can compete with them. Before you get too excited, make sure that the whole system is PVC. A lot of times, the park owner has retrofitted PVC onto metal lines where they come out of the ground. To have a PVC system, it has to be 100% PVC - below and above the ground.

Clay Tile Sewer

This was the standard design from about 1900 to the 1970s. Most of what you see out there is clay tile. It's basically sewer pipe that is ceramic - it looks like pipe made out of the same stuff as the flower pots at the fancy nursery. And it is really a pretty good system. I have had many clay tile sewer systems, and I was not worried about them when I went to sleep each night. The biggest weakness with clay tile is tree roots. The clay tile pipe does not fit together so tightly that tree roots can't find a way to get into such a terrific water source. So when you have clay tile, you will be doing a lot of rooter roto repair calls. But that's a manageable expense. The other weakness with clay tile is its inability to survive jetting of the lines. When you "jet" a line, you spray extremely high pressured water down the sewer lines to push any debris into the city main line. The high pressure spray can often cause a cracked pipe to cave in. When we discontinued jetting our clay tile lines, we had no further cave-ins.

Cast Iron Sewer Line

These are very rare systems. Of course, they are easy to work with. They don't cave in. They can deteriorate over time, theoretically, but I've never actually seen that happen. We've only had one of these systems, and the only fault it had was a series of "bellies", where the flow was slightly uphill in places to it would not drain properly. You would never lose sleep over a cast iron system.

Thin-Walled Plastic Sewer Line

This is the bad boy of the sewer pipe world. This is the crazy, undependable cousin of real utility lines. This junk will cave in all the time - sometimes in 50 foot segments. Having this type of sewer system is like inviting a mass murderer over as a house sitter. It might be O.K. or it might be a catastrophe. It's like the crazy gun slinger in a spaghetti western who might shoot you or smile at you. Living with that type of uncertainty will drive any sane person nuts. The only thing you can do with this type of system is "tough love"-if it can't work properly, then replace it. And make sure you budget for this eventuality when you buy the park. If I was looking at a park built with this junk, I wouldn't touch it unless I could re-pipe the entire park into PVC, and still have a great return on investment. And that's probably where you are going to end up, either replacing the system at one time or in sections over time. I can't sleep well with this stuff.

PVC Sewer Line

This is the Cadillac of the industry. It is, if properly installed, flawless. Whoever invented this stuff was a genius. I can think of no weakness with PVC. If you have a full PVC sewer system, then you are very lucky indeed.

Conclusion

Like people, water and sewer systems come in all types of shapes and sizes. But that does not mean that certain types are to be avoided or discriminated against. It is possible to accept the type you have, and be happy with it. You just have to understand the character flaws, and work around them.

Tramita Real Estate Fund Has Grown 2,342.40% Since Its Inception

2008-08-17T00:21:00.001-07:00

Tramita Real Estate Fund is a name for trust. It is the perfect solution for investing in real estate securities. The firm believes in giving strong return potential to its clients. Tramita aims to circumvent the numerous factors that typically affect the traditional financial assets. The boom in the real estate market in the Middle East has opened new avenues for profit making ventures. Tramita believes that real estate securities are a means of achieving meaningful diversification in order to enjoy the benefits that may be associated with it. The real estate in the Middle East offers strong opportunities for making money and Tramita aims at delivering the advantages to its customers keeping in mind the need for protection in a bear market and favorable returns.

Investing in the real estate funds in the Middle East has been made easy by the products offered by Tramita. Tramita Real Estate Fund offers the security of a growing investment with due consideration to its security. Tramita allows you to liquidate your assets within a span of twenty four hours since they are evaluated on a regular basis. The entire process is transparent and easy to understand. Tramita emphasizes on the importance of long term investments since you stand to gain the most out of them. Tramita Real Estate Fund jumped above $150 in 2007, which is nearly 600 percent since the inception in 2002. Also, Tramita Real Estate Fund has grown 2,342.40% since its inception, giving 86.42% returns in year 2007 and average of 62.52% since year 2002. Hence, the Middle East real estate fund is being regarded as the next big offering in the scheme of long term investments.

The boom in the real estate sector in the Middle Eastern countries is predicted to continue for another ten years. Experts are of the opinion that if this region does not face natural calamities in the coming years, this drift will continue to be on the rise for the next decade. Once upon a time, these countries were regarded as mere stretches of sand. Now, it seems to be an area of furious activities. In many of the Gulf countries, the cities have been customized and designed by the respective governments. One good example is the King Abdullah City, which is the largest project that has been initiated with the total expenditure at $26 billion targets the earlier underdeveloped stretches of Saudi Arabian coast lines.

Another good example is Oman that has been redesigned in order to accommodate the two million tourists that visit it each year. The entire real estate development also aims to provide added comforts to its 250,000 permanent residents. Examples of similar such developments are the New Town and Industrial Projects in Bahrain, which are believed to cost over $2.2 billion. These are typically constructed on reclaimed land since a shortage of land is being perceived. The Lusail development project in Qatar that is evaluated at 5 billion is set to hold 200,000 inhabitants.

Perhaps the best known example of the boom in real estate is Dubai. Dubai has many projects valued at a figure close to $200 billion. The demand for real estate in Dubai seems to be on the rise everyday. The American magnate Donald Trump who bought property in Dubai only to reap in the profits recognized this trend in the earlier days. Soon, many other celebrities too, followed suit. The residential, commercial as well as tourist estate suddenly has an increased demand. Not to be left far behind is Abu Dhabi and the adjacent areas. These areas, too are witnessing a rapid real estate boom.

A Condensed History of Kansas City Real Estate

2008-08-10T00:52:00.000-07:00

Why is Kansas City (KC) not in Kansas? Why are there two towns of the same name in two different states? Is the town's BBQ as great as everybody says? Keep reading and you'll the answers to all of these in more as I provide a brief of the real estate nearly a half million people call home in Kansas City.

Early History

Today, KC is the largest city in Missouri. Incorporated in 1853, the territory sat square on the border between Kansas and Missouri. Étienne de Veniard, Sieur de Bourgmont, a French explorer, was the first documented European to visit the land.

Interestingly, Bourgmont had an order out for his arrest for desertion starting in 1713. However, by 1718, having never been captured, Bourgmont was recommended to receive the Cross of Saint Louis award for service to France because of his efforts to document the areas that make up modern day Missouri and Louisiana.

After the U.S. obtained the land from the French in the Louisiana Purchase, the Lewis and Clark expedition camped temporarily at what is today the Kaw Point riverfront park.

By 1821, Missouri had gained statehood and joined the Union. The city was incorporated in 1850, while the town of the same name on the Kansas side (commonly referred to as KCK) was formed as a "satellite city" in 1868.

Modern History

After beating out a neighboring city for the construction of the Hannibal and St. Joseph Railroad bridge, completed in 1869, the town's population would quadruple over the next 50 years. In 1926 the Liberty Memorial, home to The National World War I Museum, was dedicated by President Coolidge.

Famed residents include Walt Disney, Harry Truman, and J.C. Hall, founder of Hallmark Cards.

The city is also known as BBQ Town thanks, in part, to Henry Perry, creator of KC Masterpiece barbecue sauce. The town is well known for their great barbecue, which makes living on a piece of Kansas City real estate delicious too.

Remax Missouri (http://www.remax-missouri.com/remaxmidstates/kansascity-mo-real-estate.asp) specializes in finding you the perfect piece of Kansas City real estate. The author, Billings Farnsworth, is a freelance writer.

Article Source: http://EzineArticles.com/?expert=Billings_Farnsworth

Becoming a Real Estate Agent

2008-08-10T00:51:00.000-07:00

If you're selling real estate, you could ask visitors if they're buying a starter home, a vacation home, or just looking to remortgage an existing home.

Estate Marketing
A real estate agent resume is made up of a number of marketing pieces - all of which are designed to attract new clients. Shoving rate sheets and brochures promising real estate marketing secrets into envelopes and sending them off to every agent they know. Of course, just like any other area of marketing, real estate marketing online is still a numbers' game, and you are more likely to experience a exceeding success rate when you reach your target audience online.

Estate information
It can be difficult understanding all the changing real estate information that appear to constantly be influx. Whether you're starting a new real estate agency or are looking for a new design for your real estate website, this information should help you find an compelling system that will suit your business's needs. If the mantra preached by Estate Agents is "Location, Location, Location", then for Web Users it is definitely "Information, Information, Information".

In order to be the commercial real estate investor you dream of, it takes getting the right information from the right people. If you are an estate agent, why not offer information about the area you are selling in.

Estate investing
The second level of virtual real estate investing is buying up networks of content sites and focusing the traffic on beneficial product lines, affiliate product sales, services of all kinds, and for advertising revenue. Real estate investing has probably made more millionaires than any other industry in the world. However, by purchasing a real estate investment franchise you can virtually abandon or at least minimize the challenges you face when entering into the real estate investing industry.

You should start focusing on strategies such as buying real estate, acquiring businesses and investing in human assets like training and hiring quality people. Commercial real estate investing can be done by even the most average and non-average of people- a little motivation and willingness to learn, and you can easily be on your way to being a very successful, profitable commercial real estate investor.

Christopher Jackson- World Trade Marketing wtmsecured@mail2world.com USA Monster Digital Products
http://www.wtm-income.net/real-estate

Article Source: http://EzineArticles.com/?expert=Christopher_Jackson