Market Conditions: A Slight Jump Ahead!

It seems that the waiting is paying off because not only is D.C getting their act together, but we have also seen a small jump in the sales in the Western region of the country!   Although, despite this jump, the entire market is underperforming.  In the past decade, we have added in about twenty-five million people to our population and the ability to afford a house could not be higher for most people but the household formation is much, much lower than expected.

Obama really does have his hands full if he expects to jump the real estate market into gear for the spring and summer months – we have to wait and see, but our newest president definitely has his hands full and if he wants to make sales, he will definitely have to work fast!

Everywhere in the world, people are dropping the cost of their homes and losing all sorts of money – even with the bailout, it simply does not seem to be helping.  Obama is tightening those purse strings in the white house, but let’s hope that he can save our great country!…

The Perils of Renting and Scams: 2

When things get fishy and you are not sure that the offer you are so into is legitimate, there is one hard, fast, unbreakable rule: DO NOT PAY ANY MONEY!

Secondly, feel free to pester.  Let the potential landlord know you are uncomfortable with this situation.  Do not rest until you get a working phone number and address to reach the person, not to mention the verifiable address of the rental property.

If it is at all possible, acquire the services of a broker to act as a go between.  He or she will be able to ascertain whether this rental offer is legitimate, and it will save you from getting duped into anything.

Keep other properties in mind.  Sure, I am in love with this house, it suits all my needs, and it is affordable, but I know I logically have to realize that there are other places available out there.  I cannot hang all my hopes on this one property; I simply have to hope it turns out well.…

Property Selling: Tips on writing a listing description

Selling real estate is a lot easier today with the help of the internet, even without hiring an agent. A lot of homeowners are more curious on how they can sell their property online. For this post, we focus on how you can make a good description when you list your property online:

Be honest

What is most important is that you should be honest when you put your property up for sale. You need to put only the correct details about your home. Any misleading information may disappoint potential buyers, make them cancel the transaction, and you will waste people’s time. Of course, any untruthful disclosure about your home may also push someone to file a lawsuit against you.

Be concise

The internet reaches to a lot of people but you need to remember that people also have shorter attention spans when looking at online ads. There are millions of choices so a long description may turn off a potential buyer. Your information should be very accurate, detailed, but not too flowery.

Be positive

If you feel that your home is a great property for other families, then by all means say what you feel. Showcase the beautiful landscape or the staircase or any other good traits of your home.

Highlight the best features

Make sure that the description of your property is eye-friendly. The reader must be able to scan through it and see the wonderful features of your home. Avoid making a big block of prose since people will not read them.

Be creative

Make a catchy headline that will make people checkout your home. You can say 365 days of sunshine and perfect weather instead of just saying where it is located. These creative punches will make your potential buyers read on through your description and maybe decide to check it out and purchase it.…

How You Can Sell Your House Alone — Without A Real Estate Agent!

In this day and age, with everyone in the world trying to sell their house for the most amount of money, who really wants to pay a real estate agent commission fees?  There are many different ways that you can sell your house without a real estate agent; you really just need to know how to do it and that is what we are going to go over in these two blogs!  Firstly, you need to understand how you are going to sell your house – what strategies you need to put into place.

Advertising is honestly going to be the most important thing and that is why real estate agents have so much luck, because they have access to all sorts of different databases to get your home out there for you.  While you might not have access to all of those databases, there are a couple different things that you can do to make sure that your house gets out there.

Setting up a website for your house is a great way to ensure that people can take a look at your house without having to swing buy – make sure that you include a virtual tour.  More in the next blog!…

6 Steps to Avoid Foreclosure: 1-3

Foreclosure is a very real risk for a long of homeowners right now. Avoiding Real Estate Foreclosure is important! If you have ever gone through it yourself, even if you have ever known someone who has gone through it, you know that it is devastating and emotionally draining. As such, it is imperative that you do everything you possibly can to avoid this — at all costs. Fortunately, that is not as difficult as it may seem to be right now. There are six essential steps you can follow to make sure that you never have to go through a foreclosure. Here are the first three.

Step 1: You need to begin by analyzing your entire financial situation — honestly. You need to calculate exactly how much money you can afford to pay on your home.

Step 2: You need to talk to your lender. If you have to, talk to someone in your lender’s customer service department. Be honest here as well, and tell the complete truth about your entire financial situation. Believe you me, your lender does not really want to take your house from you.

Step 3: See if you can negotiate some kind of compromise with your lender. Try to work out a payment plan.…

A Leaky Toilet Can Cause Way More Than Just Water Damage

 

While you might not think that a leaky toilet is a real estate issue, if one of the houses that you are trying to sell or your own house that you are thinking about putting on the market has a leaky toilet, you should read below to ensure that you know exactly what type of damage leaky toilets can truly cause in the long run.  Everyday, leaking toilets result in about six billion gallons of water loss; that is one heck of a number from just a bunch of leaky toilets right?

What you may not realize is that everyday, toilets can lose anywhere from 30 up to 500 gallons of water just form a small and silent leak that is as little as a staple.  Now that you know all of the figures regarding leaky toilets, the damage is probably something that you are more interested in right?  For one, leaky toilets can cause black mold to form along with injuries, if someone slips and falls.

The solution?  Fix the leaky toilet as soon as you notice water on the floor that was not from a shower.…

Protect Your Personal Property Via Renting Insurance!

Renting is something that many, many people do – heck, I do it and one thing that I got when I first started to rent was renters insurance.  Renters insurance is actually insurance that protects your stuff.  Let’s say that your apartment has a fire or even is flooded out – you have lost everything and you will probably have to pay to get it back.

Renter’s insurance is definitely one of the most important things that any renter should get and really, you can get it from any insurance company and the price is not even that bad – only about $100.00 a year or a little more and it covers the cost of your stuff.

So if you are renting and currently do not have renter’s insurance, you should definitely invest in it.…

Real Estate basics: Understanding home refinancing

Your mortgage will most likely be the biggest debt you have ever to deal with your in your life. It is also quite long-term with home loans stretching between fifteen to thirty years. Along the course of this investment, as a homeowner you need to find means to maximize your equity and lower your debt. Here refinancing comes into the picture.

Reasons to do home refinancing

  1. Get a better interest rate – This is among the top reasons why homeowners wants to refinance. You basically swap a higher interest rate for a lower interest rate loan. This makes you monthly mortgage lower compared to your old one.
  2. Different type of mortgage – If you opted for an ARM or adjustable rate mortgage when you started the loan, you can expect the monthly payments to go up after some time. You can refinance and go for a fixed-rate loan so you can lock the interest rate and not be subjected to market fluctuations.
  3. Home equity – If you have improved your finances through the years, you might be more comfortable paying your mortgage. You can refinance and get a loan with a shorter term. If you do not want to refinance, you can also make additional payment every month to build the value of your home faster.
  4. Taking out cash – You can also refinance your mortgage and tap into the value that you have in your home. You can practically use this extra funds for other purposes like a home improvement, paying off other debt, or for your vacation.

You have to consider a lot of things when thinking of refinancing. Make sure that you consider potential penalties, how long will you still be staying in your current home, taxes, monthly payments, and equity among others.…

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Now that we have talked about how you can advertise via the standard open house sign and where you need to put that sign, it is now time to talk about other means that you can advertise your open house.

The internet is a fantastic thing that you can use to truly get the word out there that you are having an open house and where.  Places like Craigslist.org and even the classifieds are fantastic to truly let the public know that you are having an open house.

You want to make sure that you use the free means of internet, that way you can make sure that you are not going over your budget on your advertising – that is something that every single real estate agent worries about, I know that.…

Blog1031.com: I'LL TRADE YOU A QUARTERBACK FOR A DEFENSIVE BACK

Well, it’s that time again.  Pro sports franchises are trading players left and right.  In Miami, our NFL pro football team is in search of a quarterback.  You do realize that the Miami Dolphins should be doing a Section 1031 exchange don’t you??  Ah, you don’t understand what I mean?  If you have been reading my blog, then you are aware that under I.R.C. Section 1031, a taxpayer can exchange (sell) an investment property or property used in a trade or business, for another “like kind” investment property or property used in a trade or business, and defer paying any tax on the profit.  Of course they should use an independent Qualified Intermediary to handle the paperwork and monies being transferred, as the taxpayer and its agents should not hold the money.

So what does that have to do with the Miami Dolphins or any other sports franchise?  Most 1031 exchanges involve real estate exchanges. Personal property exchanges are also allowed, but the standard of what is “like kind” is narrower on personal property exchanges.  Yes, you can exchange an automobile for an automobile.  Likewise, you can also exchange (trade) a major league sports contract for another major league sports contract.  Hmm–I certainly hope these sports franchises are aware of this wonderful tax deferral technique.…