Posts Tagged ‘real estate’

Interesting Gifts To Give At The Close Of Escrow

Monday, November 21st, 2011

I am not a fan of flying. I was, until recently, scared of heights. I don’t know anything about the dynamics of flying other than it seems a bit unconventional for a human but not birds. I do, in fact, love those that have mastered the skill of navigating the wind.

My father died 6 weeks after I was born and I never knew him. But, when I was growing up my mom, who was my idol, always told me, “Take care of the people around you. Be attentive to what their needs are. That is what you father did with me and, since he isn’t here, I think he would want me to share that with you”. When I was growing up I didn’t realize how that would come in to play in my real estate career.

I had a former client that had been referred to me by a mutual friend that was also my former client. This new potential client had a family and two young children (boy and a girl) and he was a bit down on his luck. I went to his house and met with him to discuss listing his house. He proceeded to tell me how his family had hit hard times and he vowed to his wife and two kids, especially the oldest one (a young girl), that they would be okay. It was a typical meeting that didn’t strike me as being too far off the beaten path of any other listing meeting.

Afterwards, he invited me to stay for a cook out. I obliged and hung out with them for a few hours. I watched as the house filled up with families and children from all over the neighborhood. Me, being a single guy and not being accustomed to being around kids, I was nearly at my whits end but, I stuck around to be respectful. And, boy was I glad that I did.

His oldest (about 9 at the time, a girl) came up to me during the the party and said, ‘ Dad said you are going to save us.’ I didn’t know what to say so I said what any single guy with no kids that was terrified would say, ‘Hey, what’s your name.’ She said, ‘My name is Taylor, and I wanna fly. Watch this’. She spread her arms out and pretended like she was flying in to the pool and dove in. We all laughed hysterically. She was a character.

Later, out of curiosity I asked her why she wanted to fly so much. She told me that her grandfather had been a pilot and that he had flown planes from the ‘cotchpits’ before. I told her that we would see what we could do about ‘getting her up in the air some day’.

While this family didn’t want to leave their home and move away it turned out to be the circumstance that benefited them the most. The home sold, they moved in to another home and got on with their lives. After the close of escrow I scheduled a little surprise for them.

They all arrived, unsuspecting. We got in my car and drove about 5 miles to Temecula, CA. As we rolled up to the launch site the kids went crazy. We, along with the guide, launched in to the atmosphere and had so much fun. The smile on that little girls face was priceless. When we landed and were about to leave the little girl came up to me and said, ‘Thank you. You are my hero.” My mom would have been proud.

This gift cost me less than $500 for all 5 of us. When you close your next deal. Think of something unusual. Think of something that will make a lasting impression. Go beyond the call of duty.

They say it takes all kinds to make the world, but I can’t help thinking what a much better world it would be if there were more people like my mom, my client and his family.

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Getting Started As A Real Estate Agent Has Never Been Easier

Monday, November 21st, 2011

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Quite often when getting started as a real estate agent many think that getting their real estate agency will produce a secure financial fortune when, in actuality, getting your certificate is the first leap in a very long process towards financial independence.

While real estate is an intriguing profession there is ever so much work ahead once you get your certificate. Practically with all online or classroom real estate academy training courses there is little schooling applying to real world experiences that you will stumble upon. While each state has assorted requirements almost every real estate academy has the same basic knowledge. In reality, there are minimum courses nationwide that encompass even the basics of how to fill out your state mandated residential purchase agreement. Why is it that the Department of Real Estate expects new real estate agents to be able to successfully finish up a business deal when the basics aren’t even covered? This doesn’t have to be like that.

Whilst each state has different forms there is one legal purchase document that is the same throughout the US no matter where you reside: the HUD-9548 contract contract. And, that form seems to be the one that is the most misinterpreted.

First, let me clear away a myth: HUD owned properties are not lower income housing. HUD homes are one to four unit housing that had an FHA insured loan. Simply put, HUD owned properties can be a single family residence, a duplex, triplex or quadplex. The loan maximums for these homes in Los Angeles County California are as follows: Single Family Residence-$729,750, two-family-$934,200, three-family-$1,129,250, four-family-$1,403,400. So, you can see that a nice residence can be purchased in those price ranges. Many new licensed agents ignore HUD homes sales from their daily routine and that is not a intelligent decision. Many licensed brokers are overlooking profitable sales that could expand their bottom line tremendously but simply don’t take advantage of these sales because they don’t understand the HUD process. By simply marketing an additional 3-6 HUD homes yearly one can increase their revenue enormously. In the U.S., no real estate academy will guide you through the HUD 9548 contract and demonstrate how to adequately execute the contract.

While the HUD 9548 contract is the same all over the U.S.A. few realtors take the time to understand how to properly execute these contracts as many are focused on short-sales or bank owned REO’s. Never again make that mistake and exclude this opportunity of a life time.

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Why HUD Sales Are The New Gold Standard In Real Estate Sales

Thursday, November 17th, 2011

According to statistics, 25% of all hud contract transactions submitted get canceled due to licensed agents crudely filling out the contract or missing a deadline for an extension. Why is this? How are you going to disclose to your prospect that they didn’t get their ideal residence because ‘you, as their agent, didn’t know the process?

Throughout the US, hud processes aren’t covered by any real estate academy currently offered. Here is some of what you need to know. Most licensed real estate agents don’t perceive that the hud bidding and contract procedure is completely different from your standard real estate transaction. Often newly licensed brokers email their state forms when submitting a offer when, in fact, all the bidding is done online. The contracts aren’t difficult. They just require a little extra attention to detail and you must be well versed in how to not only fill them out but also be aware when certain deadlines are and what forms are mandated by hud to be submitted.

Why HUD property sales are the new gold standard for opportunities. Statistic: About 9.1 percent of FHA borrowers had overlooked at least three payments as of December 2009, up from 6.5% in 2008, the agency’s figures signify. The Federal Housing Admin does not make loans but insures lenders against losses. And claims have already accelerated. The agency had to pay out on 47% more loans in October and November 2009 than in the corresponding period a year earlier, according to an Federal Housing Administration write-up. The year 2010 will be elevated according to some analysts.

Why are HUD transactions the new Gold Standard for realtors? Two reasons:

* The banks engaged incompetent, untrained Robo-Sign’ers to advance foreclosures through the system. Trends show law suits are developing for these with lawyers jumping on the bandwagon to represent the former homeowner that was foreclosed upon and those attorneys are asking “Who really owned the note?” Former owners are suing the establishments, the title company, the lender, escrow and even the new current owner and their agent. Why does this matter? Because we are in uncharted waters and for years to come no bank selling an reo will be able to ensure that their property has a clear and marketable title. Be hesitant of touching an reo as you may find yourself in legal procedures for years to come.

* Housing and Urban Development assures a clean and marketable title. How? Because all insured lenders have been paid, FHA reclaimed the property and assigned the Housing & Urban Development to re-list the property. And, simply, because they are the federal government and, you have to ask to sue the federal government. The title company contracted by Housing and Urban Development is insuring the interest of the federal government. Need we say more?

As it stands, more of the properties on the market are HUD homes. It’s never been as necessary as now for agents to effectively execute and understand all HUD procedures.

More about how to be a real estate agent, visit our site for a real estate tutorialtoday.

Storm Windows – A Good Home Improvement Project

Tuesday, November 15th, 2011

Cleaning the storm windows definitely comes first before either installation or simply replacing them. Anybody who tries to do this job but not perceptive enough on how to go about it, might be prone to hurting himself through self-inflicted wounds.

The first and foremost top of mind, is to look out for any glass breakage that might do the job of wounding and hurting you. If there are, simply hold on and get hold of an expert in storm windows installation, who will finish the task on your behalf for a few dollars.

Prior to cleaning storm windows, endeavour to examine them closely for any breakages. Remember well that attempting to take off storm windows with damaged glass is not definitely advisable.

Called secondary windows, they are usually installable either on the interior or exterior of the prime window and the moderately priced, range from glass, plastic panels and plastic films. They offer a higher capacity to resist storms and provides maximum efficiency in summer and winter seasons.

The technique in the installation of storm windows should be an instinctive know-how for a lot of house dwellers. The initial action is to ensure that the covering of the windows panel is in place. Normally what is used to cover the panel is a blanket of ordinary pieces of cloth. While in this process, it is rather expedient on your part to prepare the normal stuff like glass cleaners and spray lubricants.

The suggested way is to rub out the grimes with the cloth. Should there be remaining stubborn dirt, use a small sharp stick to take them away and for a more satisfactory result, the use of vacuuming equipment is definitely advisable. Ensure to lubricate the edges by applying effective all-around multi-purpose oil and wipe dry the metal ends.

In order to achieve a successful cleaning task of the storm windows, you’ve got to be always ready with the needed materials and the necessary cleaning tools. Remember that cleaning is a prelude to installation so these simple guides could help.

For a more spotless surface, a vacuum machine would be an efficient method to cleanse the tracks, of course right after drying. Ensure to get rid of dirt rubble, and then spray lubricant on the edges using penetrating oil. After making the frames or sashes and the fastening or latches thoroughly wet using a damp fabric, dry the trickle at the metal ends with a dry fabric.

This is brought about by the corner holes on the screen sides that trigger the said functionalities in action. That is why these holes should not be covered after: waterproofing the screen sides and setting back the sashes towards the other direction. Finally, exercise extra care in putting back the storm windows in their normal place.

When talking of storm windows as reason for home improvement, it is not merely applicable to households but also to other multi-level building structures. The point is, whether at home or elsewhere, these storm windows are considered an investment that adds value and acts as sort of a protector during hurricanes.

Another piece of advice this time to avoid inflicting injury to anybody cleaning and installing the storm windows. Avoid complacency as there might break glasses. Under such condition, never persist in removing the storm windows to avoid any untoward incidents such as deep wounds caused by the defective glass.

They come in different types catering to your needs. A simple plastic sheet can be provisionally used at least for one season, while another type which is triple-track glass elements can afford to last for years.

There are more types of storm windows to choose from such as sliding, clip-on and double hung sash type. Some types are those which are nearly unseen by the eyes and these are made out of vinyl or aluminium components.

The benefits that you can get from storm windows are so amazing that the market value of your home is quite inviting should you decide to sell. Depending on your needs, it is rather worthwhile to know that mid-priced plastic sheets can be temporarily used in a single season, while glass components are more permanent in nature. Take your pick.

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Dawsonville GA Real Estate Agents: Ask Them!

Tuesday, November 1st, 2011

If you experience a problem in trying to find Dawsonville real estate homes and properties, why don’t you try asking for help from specialists? Experts like Dawsonville GA real estate agents who definitely are always there to assist you at times you don’t know very well what you are specifically looking for.

Locate Dawsonville GA Real Estate Representatives to Help You!

Buying houses isn’t an easy task. You must look deeper into the whereabouts of a particular property you’d want to purchase. You need to look at the number of rooms, the location where the house stands, as well as property details that you need to take into consideration. All of these could be really tedious on your part especially to those first time property buyers. That’s why, Dawsonville GA real estate agents are the ideal people to hire for the house hunting task. Why? For they know the entire place just like the back of their palms.

They know which property you should be purchasing and which you shouldn’t. But you should also do your own personal research for possible Dawsonville properties. It is good to have people assist you throughout your search but you can’t be too relaxed in choosing and buying the said house property. A little bit of knowledge is not a bad idea. At least you’ll know that these people aren’t swindling you.

Seek for Legit Dawsonville GA Real Estate Representatives

In the real estate business, there are always those individuals who will attempt to trick you and earn money just by acting all expert like but in truth they are only scammers. Scammers who’s going to do everything in their power to have your money without even really helping you. They’ll just going to make you believed that you’d benefit from them but in fact it’s the other way around, they’d benefit you and that is definitely not a good idea.

So if you are choosing for Dawsonville GA real estate agents be sure that you hire those people who are legit and trustworthy. You wouldn’t want all those hard earned cash to suddenly go to complete waste, right? Look for these real estate agencies online or scan through the yellow pages. I’m positive that you’ll spot these legit agencies in no time.

When you are in a complete bind of buying a Dawsonville property, look for help! Dawsonville GA Real Estate agents are always ready to help you in home purchasing situations!

Don’t Skimp On Homeowners Insurance When You Buy A Home

Sunday, September 18th, 2011

Getting homeowners insurance is one of the major priorities as well as the wisest investment moves that must be made by all homeowners. It will provide you with adequate liability coverage for the property in addition to the valuable contents housed inside it. Buying a homeowners insurance policy will ensure that your most prized asset stands protected even in the face of natural calamities. An insurance policy offers numerous financial advantages aside from offering liability protection in case the property suffers damages because of fire, earthquake, storm or any other disaster.

You’ll find various kinds of homeowners insurance sold by insurance agents and the coverage provided by different insurance policies also differs considerably. Under some homeowners policies, the insurance owner gets not only financial assistance in the case of liability claims but their health expenses are in addition included by the company in cases when medical emergencies arise resulting from property loss or home damage.

As a consequence of the broad assortment of homeowners policies with various coverage, it is vital to opt for the one that suits your needs and doesn’t fall too heavy on your wallet. Men and women with monetary limitations can also opt for an inexpensive policy to ensure that the structure of the house and the valuables inside it are completely protected from any damages. Even buying the most basic liability coverage can work very well to make sure the individual does not lose too much of their investment made in constructing their dream home in case it is damaged or destroyed as a result of some of the clauses included in the policy.

Prior to getting a home insurance policy, it’s best to shop around and seek out competitive quotes from 5 to 6 insurance providers. Asking about various kinds of policies and the scope of liability protection offered by different policies and the insurance premium costs charged by companies can help you arrive at the decision about which plan is ideal for you.

You’ll be able to make the best selection after evaluating the advantages and costs related to different policies. The level of liability coverage required to safeguard the house is another critical consideration that needs to be considered when getting the insurance policy. One can take advantage of the assistance of a dependable real estate agent to first find out the worth of the house bought under FHA, VA, and other home buying programs.

Taking measures to lower the coverage limit to be in proportion to the worth of the home and also the contents inside it, together with subtracting the value of the land, can help an insurance purchaser to benefit from considerable savings when buying a homeowners policy.

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What Is The Right Listing Price For Your Home?

Monday, September 12th, 2011

When buyers search for homes to look at, price is definitely one of the deciding factors. You and the Realtor are in charge of deciding the asking price, but the selling price is pretty much decided by the buyer. If the price is too high, most buyers won’t give it a second thought – which is why you want to determine the listing price carefully.

If you set the correct price, you’ll notice a much faster sale. Setting the right listing price will also attract more potential buyers to your property as well. You will probably get a lot more interest from Realtors and other callers. The listing price is very important – and it can ultimately determine whether or not you sale your property.

Several reasons can be responsible for a home being overpriced. You definitely don’t want to overprice your home, because that is usually one of the main reasons buyers avoid looking at certain houses. This is the case when the home is listed at a price much higher than what it is worth. Some buyers ask a lot more than the value of the home due to location. But even if many people pay attention to location, they are still not going to be interested in a home that is way overpriced, or out of their price range.

When a new home is listed on the market, most of the activity takes place in the first two weeks of the listing. The right asking price will cause sudden interest. Buyers are always waiting for new homes being listed, homes being reduced, and anything that falls within their price range. Some buyers might completely miss your listing if it is set at too high a price.

To determine the listing price of your home, you should always have it appraised before you put it on the market. This way, you’ll know the full value of your home. You can set the price at market value, or go a little below; it is never good to go too much above market value. If the price is too high, you will lose some potential buyers. Because of the high competition, your goal is to generate as much traffic as possible.

Keep in mind that Realtors really have no control at all over the real estate market, only the plan behind marketing. Realtors don’t determine the asking price – the seller does. You can ask a Realtor for advice, although you are the decider of your listing price. Once the right asking price is set, selling your home in good time will be children’s play.

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The Significance Of Getting Insurance If You Are A Home Renter

Wednesday, August 31st, 2011

As a tenant of a home or apartment, you might think that you won’t need renter’s insurance. But the truth is, your landlord can only cover the place you are living in but not what you have in it if ever your home is destroyed.

You, as the tenant, are the one responsible for everything that is kept inside the walls of your home. Renter’s insurance is your best bet to ensure that your belongings are protected from any untoward incident.

Home renter’s insurance can protect against the loss or damage of your personal property. This insurance will offer protection in the case of theft, fire and flood.

Another thing it will protect you from is if anything happens to someone when they are at your place. This alone should be reason enough to get it, the stress that it ameliorates is enormous.

You could get sued if someone gets injured while in your home and you don’t have renter’s insurance. This insurance will take care of any expenses of the person who got injured so make sure you have it.

A lot of people believe that the value of their personal belongings is not adequate to maintain the expense of renter’s insurance. What they don’t realize is, if they sum up the value of all their possessions, that can get lost or disappear in a calamity like flood or fire, it is actually even more than what they think it is.

For most people, if they lost all of their possessions, they would not have enough money to replace all the items straight away. That is the peace of mind that this insurance offers, that you will get it all replaced pretty much right away.

Before you purchase home renter’s insurance, be sure you understand the policy completely. You might find that only certain kinds of coverage are included, and that you might need a separate policy for other kinds of damage.

This author has been blogging with respect to insurance for the past three years. Additionally, this author enjoys contributing information with respect to NYC neighborhood topics, including East Village real estate along with Gramercy apartments.

How to Get the Best Mortgage Rates in Ontario Canada

Wednesday, July 20th, 2011

Canadian mortgage rates are fluctuating and you need to find the mortgage rate that best suits your requirements. Lenders are offering competitive programs to help you buy your next home in Ontario and it is important to find the best mortgage rates Ontario has to offer. Acting fast when you find a rate that suits you is the best action to take.

Canadian mortgage rates come in two flavors, fixed and variable. Learn the difference between the two mortgage options. Fixed means that your interest rate stays the same, while variable means that your interest rate can change based upon economic conditions. With today’s rapidly changing economy and the US real estate markets recovering from the recession in 2008, rates could still experience a high level of fluctuation. Mortgage rates Ontario change often and either loan could be beneficial depending on your requirements.

To get the best rates, talk to multiple lenders. Often, speaking with a mortgage lender will result in getting a lower rate if they know that you are looking at their competition. Take into consideration what you expect to happen with your future income. Perhaps a variable rate mortgage is a good option, if you expect to earn more in a few years than you do currently.

Watch the real estate and finance trends in order to determine when rates are the best. In Ontario, there are great mortgage opportunities available for home buyers who have done their research and know when rates are at their lowest point. When you are looking for a mortgage, remember that you should work with a lender who has your interests and not their bottom line in mind. Your situation is unique and there is a perfect mortgage program for you.

Finding the best rates requires time and research, but becoming an educated consumer will help you to deal with Ontario mortgage lenders and to get them to customize the best mortgage loan for your situation. Remember that there are many lenders in Ontario who would love to work with you. If one lender is not offering a mortgage that best meets your loan requirements, talk to other lenders in order to see how they can help you buy your new home. Whenever you are looking for an affordable mortgage rate, it is important to keep in mind always that it may take a couple of weeks to negotiate an ideal rate with your lender. Take your time and be patient in your search.

If you are wondering about where to get the best Canadian mortgage rates, then you should visit Kanetix.ca today to do a free online comparison. At Kanetix, you can compare the mortgage rates offered by various companies by just filling out a simple questionnaire which only takes a couple of minutes. Visit Kanetix today and get the best mortgage rate.

Things To Know When Buying Investment Property

Wednesday, July 13th, 2011

Are interested in becoming an investor in real estate? If so, there are a lot of things you should learn. One of them is the process of buying investment property. There are things you have to know about the process otherwise you can lose your money.

This business is not for those who want to get rich quick. Those who are getting into this venture hoping to make a profit overnight should look for some other kind of business. However, those who are patient, can make handsome profits. This is because it is more of a long term investment.

Early enough, before you start the venture, study the market carefully. This is very important because there are some things that you cannot be thought in school; you have to learn them through experience. Things like tax payable, land rates and any other thing you will need should be clear to you.

In this business, location is probably the most important factor. It is not how much the house is grand. A good building in a bad neighborhood is not going to fetch you any money. It is perfectly safe to say the reverse is true. That is why even if prime locations are not cheap; people will still go for them.

This means you buy cheaply and wait a short duration for the prices to increase. It is not very much unlike the stock market. It needs a keen sense of the business world. Always keep abreast of the market and the current affairs. If you are not careful, your building can even depreciate.

Decide whether you want to invest in houses or units. If you have enough resources you can invest in both. In this way you get to diversify your investments. It actually depends on the location. There are some areas where units can fetch you more returns.

Now, you come to the final part; the signing of the deed. This should only be done after careful study of the fine print. This is what sometimes reduces the profit you would have made. For example, there may be a restriction in the place that makes it not useful for most businesses. People will fear buying it so.

Some coaching can work in your favor. This should come from somebody with a long experience in the business. The idea of buying investment property is not something you can think about at night and act on in the morning. Trial and error never made anybody good money.

Have a look at our website to learn all there is to know about property investment process. You can also find details about the advantages of hiring a property buers advocate, now.