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Dec 01 2008

How To Get Top Dollar For Your Home - Fast

Posted by Ada Denis

by Ada Denis

1. Time is money when selling your home

After you’ve made the decision to sell your home, the longer it remains unsold on the market, the more it costs you. Many home sellers feel it’s very important to receive close to their full asking price. But they overlook the additional months of carrying costs, such as mortgage interest, property taxes and maintenance. I’ve seen homes remain unsold on the market for years! Obviously, those home sellers are not highly motivated to sell. If they’ve already moved to their new home, maintaining a vacant, overpriced house can be very expensive, usually costing $1,000 or more each month the home remains unsold.

2. Get your home into near-model home condition

Most home buyers today want to purchase a home which is in basically good condition and does not need major fix-up work. This is called a “red ribbon deal” home because it’s like a gift wrapped with red ribbon.

There are few buyers for fixer-upper houses–and they want bargain prices to compensate for the necessary work. The goal of home sellers who want to sell fast for top dollar must be to get the home into near-model home condition. However, spending major money is not required. Most homes just need basic, inexpensive work to get the residence into very good condition where all the buyer must do is turn the key in the door and move in.

3. The reason most homes don’t sell–they are overpriced!

Many home sellers want to set their asking prices above what their realty agent recommends. These sellers often hope an out-of-town buyer will overpay for their home. That rarely happens! There are several reasons, such as buyer’s agents who look out for their buyers, competitive listings which are realistically priced close to market value, and lender’s appraisals which reflect market value. Buyers quickly become experts on home values after they’ve inspected a dozen or more similar homes in the vicinity. They rarely overpay. Most homes have a “range of values.” Many factors influence this range of values–such as local economic conditions, the home’s location, supply of similar homes in the same price range listed for sale, number of buyers currently in the marketplace, the physical condition of the home, the skill of your realty agent to properly market the home to as many prospective buyers as possible, the financing available, quality of the local school district (the best schools create home buyer demand), and the desirability of your home compared to other nearby homes now available for sale.

4. Be flexible–don’t get greedy

If you’re just testing the market and will sell your home only if you get your inflated asking price, then you’re not a serious motivated seller. However, if you are motivated to sell, the best attitude is to be flexible, don’t get greedy and don’t insist on receiving the last dollar of profit. Instead, consider all purchase offers which are presented. No matter how low and insulting the purchase offer might be, make a counteroffer! After several days or even weeks of counteroffer negotiation back and forth, home sales often result. But sellers who are inflexible and don’t make counteroffers have only themselves to blame when their home doesn’t sell because they are inflexible and greedy.

5. Get out of the house!

Finally, if you listed your home for sale with a professional realty agent, let that person (or a buyer’s agent) do their job. Whenever you know an agent is bringing a prospective buyer to inspect your home, even on short notice, get out of the house! There’s a very good reason you don’t want to meet the prospective buyer.

Experienced realty agents will tell you that until a buyer criticizes a residence, he or she is not a serious buyer. If the seller is hovering nearby, the prospect usually will not criticize your home. Instead, he or she will look at it and leave without making a commitment to that possible future residence. Also, the buyer’s agent won’t comment about the pros and cons of the house if the seller is within hearing range. Even if you just walk around the block 10 times while a buyer inspects your home, get out! Also, get your pets out–there is nothing worse than an offensive pet (or pet smell) to chill prospective home buyers from quickly buying your home for top dollar.

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Dec 01 2008

Guide to Do It Yourself Termite Protection

Posted by Anthony Galz

by Don Pellis

Although not all methods for termite elimination can be safely and effectively conducted on your own, there are options for do it yourself termite protection. If you really do not want to be bothered by termite problems, then you should try to prevent the problem. Do it yourself termite protection is your first line of defense.

Clear Your Area of Debris

For one, you don’t need to be an expert on termite to be able to keep your area clean and free from debris. Debris made of cardboard, wood, paper or any other wood based items should not be stored underneath or near your house. Wooden ladders and wood piles should also not touch the sides of your house. These items may absorb or collect moisture and come into contact with other parts of your house. These wood based products are ideal initial food sources for termites from which the insects may eventually move on to your property.

Check Wooden Parts

To prevent termite infestation, keep wooden structures a few inches above ground. This is a simple do it yourself termite protection pre construction tip. You simply have to eliminate wood to earth contact to reduce your chances of attracting termites. If you really want to have a wooden fence or trellis that touches the soil fully, then make sure that they are erected far from your house’s foundation or main structure. You should also regularly check trellises and fences for signs of termite infestation.

Eliminate Moisture

Subterranean termites need moisture to survive. You can help reduce the moisture in your soil and on the wood of your house by regularly checking the sources of moisture. Defective gutters; leaking faucets, pipes, air conditioning units; and sprinklers that are too near your house may moisturize the soil and wood enough to promote the survival of termite colonies.

Make sure that water and moisture is drained from water containers surrounding your house or from the soil surrounding your house. This may include water from air conditioning units, sinks, dish or clothes washers and driers.

Keep Plants and Trees Away

Termite protection plan should not only be limited to the house but to shrubberies and to the garden as well. Plants and trees may offer both moisture and food to termites. If you should have plants around your house, then make sure that they are located at a distance from your house and that no branches touch the wooden areas of your house.

Choose Treated Wood

Use treated wood for the wooden parts of your home in order prevent termite infestation. Borate treated wood for example can help keep termites from eating up the wood.

Have Inspections

To make sure that your termite protection methods are effective, have experts regularly check your property for any infestation. Remember that even if you have been very cautious, termites are particularly stubborn and they may still get around your do it yourself termite protection methods. Actual infestations are also not easy to detect because you may not see actual termites until damage has been done. Let the experts take a look at your house from time to time.

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Dec 01 2008

Big Profits in Commercial Real Estate

Posted by Lauren Thompson

by Ada Denis

Real estate is often known as the safest investment available. Because,real estate investing
executed with correct evaluation of the property (and its true value), can result in good earnings. This is one reason how come a few people engage in real estate investing as their regular job. The dialogue of real property are broadly centered toward residential real estate; commercial real estate seems to be not as popular. All the same, commercial real estate also is a good alternative for investing in property.

Commercial real estate includes many various forms of properties. Most folks associate commercial realty with only office buildings, parks or manufacturers/ industrialized units. Even so, that’s not entirely all of commercial real estate. There’s more to commercial real estate. Health care centers, retail structures and storage warehouse are all good examples of commercial real estate. Even residential properties like apartments (or any property that comprises of more than 4 residential dwelling units) are considered commercial real estate. As a matter of fact, such commercial real estate is much sought after.

So, is commercial real estate really profitable? Well, if it were not Lucrative I wouldn’t of have been writing about commercial real estate at all. So, commercial real estate is productive for sure. The only matter with commercial real property is that acknowledging the opportunity is a little difficult as equated to residential real estate. But commercial real property profits can be real huge (in fact, much bigger than you would anticipate by residential real estate of the same proportion). You could take up commercial real estate for either reselling after appreciation or for letting out to, say retailers.

The commercial real estate development is as a matter of fact handled as the 1st sign for emergence of residential real estate. Once you acknowledge of the possibility of significant commercial growth in the area (either due to tax breaks or whatever), you had better begin assessing the potential for appreciation in the prices of commercial real estate and then go for it promptly (equally soon as you find a good deal). And you must really work towards getting a good deal.

If you find that commercial real estate, e.g. land, is available in large chunks which are too costly for you to purchase, you could look at forming a small investor group (with your friends) and purchase it collectively (and split the profits later). In some cases e.g. when a retail boom is expected in a region, you may determine it profitable to purchase a property that you can change into a warehouse for the intent of renting to small businesses.

So commercial real estate exhibits a whole plethora of investing chances, you just need to seize it.

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Nov 30 2008

Log Homes - What is the Log-Home Lifestyle?

Posted by Ada Denis

by Ada Denis

Typical log home company advertisements in popular log home magazines talk about the “log home lifestyle” or “it’s not just a home, it’s a lifestyle.” What does this mean? What is “the” log home lifestyle?

It’s often difficult to discuss the particulars of log home living without also talking about where the log home is located. It all goes together. A house on the side of beautiful mountain certainly offers a different lifestyle than the same house in a city.

Therefore, the log home lifestyle is actually induced by the combination of the attributes of the house and its location. If the location is one of natural beauty and serenity that creates a feeling of closeness to nature and escape from the pressures of everyday life, the house should complement and enhance those feelings. Everything should fit together as part of the lifestyle “package.”

For many people, logs and stone represent a return to a simpler natural lifestyle. Log homes are often described as warm, cool, quiet, cozy, relaxing, enchanting, secure, or comfortable. Often, a pleasant childhood memory or experience in a vacation log cabin or log lodge helps build these kinds of feelings.

A log home’s features and furnishings also contribute to the lifestyle. A screened porch overlooking a babbling mountain stream, spacious ceilings with exposed timber beams, roaring fires in a natural-stone fireplace, a wall of large windows offering a view of the morning mist over the lake, comfortable “country” furniture that invites a long restful sit, a rustic staircase climbing to a cozy loft, large rocking chairs on the front porch from which to view the sunsets, and maybe a relaxing hot tub that, together with a glass of mountain wine, dissolves all the troubles of the day.

Many people start with a small weekend cabin and soon realize that they love the lifestyle so much that they want to live it permanentlya kind of “try-before-you-buy” approach.

Log homes can also be considered a form of connection with ancestors who may have lived in similar structures long ago - a way to turn back time and live a bit of the old lifestyle - with modern comforts and conveniences, of course.

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Nov 30 2008

Buying A Home Or Real Estate In San Diego County?

Posted by Ada Denis

by Ada Denis

One of the original counties of California, San Diego County is named in honor of the Franciscan St. Didacus of Alcala, known in Spanish as San Diego de Alcala de Henares. Located in the far southwest, bordering Mexico, it is the third largest County by population in the State of California.

Sun, sand and surf is a way of life with people in San Diego. The county is blessed with year round good weather making it a favorite with first time visitors as well as residents. No wonder then San Diego County is a preferred choice of people looking for prime real estate. The entire County is known for its natural splendor, and whether it is the North County area, Central San Diego, East County, or the South Bay, real estate is buzzing throughout San Diego County.

Although most of the communities make for great real estate, each one of them has a distinct identity of its own. Coronado, located across the bay from downtown San Diego, for instance, is a world famous tourist destination offering a peaceful life to its residents. La Jolla, located 15 minutes from San Diego offers up beachside market comforts with fabulous restaurants, art galleries, museums and the famous Scripps Institute of Technology. The list goes on and on.

Whether you are buying, selling or renting property in San Diego County, your choices are plenty. It all depends on what kind of property you are looking to buy or sell. A simple online search can yield you great results with virtually thousands of properties up for sale.

When buying or selling a home, you should know that there are a variety of factors that influence a home’s price. Perhaps the largest contributor is the price of similar homes in the same community. Other factors include a home’s proximity to the ocean, the quality of schools, crime statistics, availability of local hospitals, proximity to police stations, availability of recreational facilities, etc.

Be sure to find a knowledgeable Realtor who can guide you throughout the home buying and home selling process. A good agent will assist you with locating a home that meets your needs, negotiating a good price, and will guide you through the home loan, escrow and closing processes.

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Nov 30 2008

How To Survive Timeshare Ownership During Economic Crisis


by Bobby Kip Hernandez

The timeshare industry depends greatly on the availability of credit in order for potential buyers to sign timeshare vacation package contracts. Without free-flowing credit, timeshare sales fall. To make up the gap in revenue, current timeshare owners are being asked to flip the bill. Relief is certainly not in sight.

While some timeshare owners know of the special assessment fee, few know that timeshare resorts can call for nearly any amount they deem necessary. The financial impact for these economic extenuating circumstances can add up to high dollar amounts for owners.

Reports of $500 to $3,000 special assessment fees being doled out have recently surfaced. These outrageous amounts are hitting owner pocketbooks at the same time personal incomes are stagnant or falling, and as retirement funds drop like rocks thrown into a pond. The financial blow has opened some eyes as to the fragility and milk-them-for-everything mentality of the timeshare industry.

Even with the bad economy, why are the special assessments so large? In good times, developers can leverage the upfront fees that owners pay or finance to get new commercial loans to build more timeshares. As timeshare sales drop, there may be no income to pay the interest and principal on the loans. The maintenance fees are not enough to cover everything.

And what if the special assessment fees are not paid? Not surprisingly, many timeshare contracts are skewed in favor of the developer. They charge non-payment penalties, garner wages, and put liens on real property like the homes of timeshare owners. What’s worse, default judgments can impose these penalties immediately following the payment due date.

What can timeshare owners do to fight back? There is not much relief if they plan to keep their timeshares. The number of owners that try to resell or rent their timeshares spikes up tremendously during economic crisis. Many charities will not accept timeshare deeds as donations knowing the accompanying liabilities.

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Nov 29 2008

How to Study for a Real Estate Exam

Posted by Ada Denis

by Ada Denis

Do well on your real estate exam without studying harder than your classmates. Get a study start on your classmates while they wait till the last week of the exam. Begin studying from day one so that you could spend your last week completely relaxed and confident when your classmates are stressed. Read on to learn more.

1. Start studying for the real estate exam as early as you can–before the course starts if possible. Schedule enough time to read up on real estate before the course starts. Use this time to work for a real estate agent. Start at the bottom, doing administrative tasks and working your way up. Obtain the books before the course and study the books from cover to cover.

2. Get proficient at taking shorthand notes. Take a shorthand course if you haven’t had exposure to such. When you start your real estate class, start taking notes as soon as the instructor starts covering the first chapter. Take notes every class you take for the remainder of that real estate class. Don’t just take notes, study them every night. Simply read from day one until the current day. Do this again each day until the night before you take the exam.

3. Do all real estate related homework, even if your instructor assigns you a fraction of the total exercises in the book. Some tests pull questions from the book not assigned as homework. Doing all the questions guarantees that you’ve gone through the motion of doing a “test” problem before it shows up on the exam.

4. Find some friends taking the same class and form a study group. Don’t use this as a substitute for self study. Use what you’ve picked up during your self study to help your friends. This is a good way to reinforce classroom material.

5. Complete any research or real estate related project at the beginning of the course. You want to dedicate the remainder of the course to reviewing your notes. Again, just read them once a day. Do this every day and you won’t need to memorize data. Get plenty of rest the night before the exam.

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Nov 29 2008

Old House? New House? Weighing Your Options

Posted by Ada Denis

by Ada Denis

Maybe it has something to do with a childhood home we fondly remember. Many of us long for old homes built with solid construction, quality craftsmanship and beautiful details. We wax poetic and wistfully recall the hand carvings, plaster walls and eyebrow dormers of homes we’ve known. On the other hand, how do the old homes we admire compare with newly minted models-and what should we consider before deciding which to buy?

Location. Typically, old homes sit on generous plots of land in or near town. The neighborhoods are established and usually more central to schools and shopping. Mature trees and plantings provide shade and beautify the property and neighborhood streets. New homes are generally found in new developments outside of town and homeowners who buy into an early can expect to contend with dust and construction sights and sounds as the remaining phases are being built. Landscaping may be skimpy or nonexistent, but a buyer has the opportunity to design the dcor from scratch.

Layout. New homes tend to have a more spacious functional layout with higher ceilings, bigger windows, family kitchens, walk-in closets, and family rooms. Some even have media rooms and come pre-wired for cable and computers. On the other hand, older homes were designed for a more formal lifestyle, which is reflected in the formal dining and living areas and many cozy rooms, including small bedrooms, closets and bathrooms.

Energy efficiency. Those eight-over-eight single pane wood windows add character to an old home, but even with storm windows, they’re not nearly as energy efficient as modern dual-glazed or thermal windows. While most old homes lacked insulation in outside walls and attics, homes built today insulate against high heating and cooling costs. Although the bigger windows, higher ceilings and larger rooms, common in new homes, can also cause high utility bills.

Maintenance. With older homes, upkeep could be more expensive because of older appliances, plumbing and electrical systems-not to mention the roof-may need to be replaced. A turn of the century home may have outdated knob-and-tube wiring, and even a recently built home may have an inadequate fuse box-style panel that falls short of the energy demands of 21st century families. But new homes generally come with warranties that will cover the cost for most major problems.

Price. Older homes are usually less expensive per square foot. In addition the tax structure is more predictable because the neighborhood is already established with amenities that newer neighborhoods are still in the process of gaining, such as schools, police and fire services, and infrastructures (roads, sidewalks, etc.). However, with restoration costs a possibility for older homes, your dollars may very well be spent on the back-end rather than upfront.

If the charm and beauty of an old home wins your heart, hire an inspector to evaluate the home for lead paint, insect and water damage, lead and/or galvanized pipes, outdated wiring, foundation problems and energy efficiency, including windows as well as heating/cooling systems and insulation. After you get the all-clear, you have one last consideration: Does the home fit your lifestyle or would the conveniences of a newer model suit you better? Only you and your family have the answer.

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Nov 29 2008

Home Selling: How To Set The Right Asking Price

Posted by Ada Denis

by Ada Denis

Many homes remain unsold for a long time because they’re over-priced. Pricing your home right is essential if you want to sell your home in quick time. Expecting more for your home than the rates that prevail in the market will only delay the sale of your home, unless your home has something more to offer than other homes. When it comes to pricing your home for sale, you need to consider that your home is going to be competing with other similarly priced homes in your area and unless there’s a short supply of homes for sale, you’re going to have to set a competitive price.

All that said, some homes do sell for more as do some homes for less. It all comes down to how you set your asking price, how you go about negotiating and what are your costs involved in the selling process. Here, we’ll discuss how you can determine a fair asking price for your home in prevailing market conditions.

Real estate agents - Whether you intend on using the services of an agent to sell your home or not, they will call you to offer their services so you may as well get them to provide you with some information. Agents will usually offer to give you a free “Comparative Market Analysis (CMA)” of homes recently sold and presently on sale in your neighborhood. This data should be useful in helping you set a reasonable asking price, keeping the features of your home in mind and how it compares with the others.

Internet Listings - Browsing internet home listings will give you a fair idea of how much homes are priced in your neighborhood and how much you can sell it for. There are plenty of ‘by owner’ sites with many internet listings and there is also realtor.com which offers MLS listings.

Driving by the neighborhood - Surveying the area yourself and visiting homes presently on sale will give you a good idea of how much you can quote for your home.

Home Appraisal - Getting a real estate appraiser to put a value on your home, based on its condition and recent home sales in your neighborhood, should give you a fair price range in which you can sell your home. The appraisal can also be used to help justify your price when negotiating with buyers. (Get a free home appraisal done here.)

So set your price after investigating two or more sources, so that you can justify for the price you set. Your home will sell fast as long as there’s a reasonable amount of demand for homes in your neighborhood and you don’t overprice your home when compared to other homes in your area.

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Nov 29 2008

Hiring a Real Estate Agent?

Posted by Robert Carlton

by Kurt Schefken

Purchasing a home can be considered as a big decision especially if it is your first time doing so. There are a lot of avenue to choose from. These different methods of buying a home give you, as the buyer the freedom to choose the one that is more convenient to you. There are home for sale recommended buy your acquaintances. Also you can look for buy and sell home online through webs. There is also the case of finding a Real Estate Agent that sell houses to buyers.

Real Estate Agent or Broker is the liaison between the buyer and the owner of the house. These agents assist the owner of the house to find a good buyer with the highest possible amount under the best provisions. Before hiring a real estate broker you might want to ask yourself if you really need one or you can carry it out yourself.

Before hiring a real estate agent there are things you might want to know. You need to do deliberation if you really need one since this person will conduct business on your behalf. The duty of a real estate agent is primarily to sell the house. The agent is expected to make known to the buyer all the pertinent data regarding the house they are selling. Of course you cannot expect all agents to do that since their main goal is to sell the house and not ruin it for the buyer. If they will inform the buyer about the bad state of the walls and etc the buyers might have second thoughts of purchasing the house. Just remember to be cautious whether dealing in Costa Blanca real estate or the house across the street from where you are now.

Buying a real estate property is not an easy task. First you have to manage your finances. How much are you willing to pay? Are you on tight budget? Are your funds sufficient enough to pay for the ideal house you are eyeing to buy? These are just some of the questions you need to ask yourself before purchasing a real estate.

Second is to know what you really want. You need to identify the things or features of a house that you want for yourself. This may lessen the confusion of which house to buy. Lastly, you as a buyer should learn to collaborate with the Real Estate agents. This way it will make things easier for you and for the agent too. You might even get more than what you have bargained for.

To better safeguard your interest you might want to have a trip to your desired location by yourself to take a look at what the place has to offer. It is okay to work with an agent but it is better if you yourself will take a look at things personally.

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