Real Estate Market reference center

Beige Book shows real estate market remained weak in September

2011-10-23T06:31:00.000-07:00

Conditions in the residential and commercial real estate markets remained weak in September, according to the latest Beige Book from the Federal Reserve.

The Beige Book is published eight times a year and measures economic activity by surveying industry contacts in markets across the nation.

Reports from the dozen fed districts nationwide suggest September brought some expansion in economic activity, but only modest or slight growth, the central bank said.

Contacts in the New York district said residential construction "remains moribund" in the area, especially activity for single-family homes. At the same time, the rental market is strengthening in the region.

All 12 districts noted little change in real estate construction activity in September with residential construction still at very low levels. Home sales remain weak with home prices either flat with the prior month or falling across most districts, according to the Beige Book.

At the same time, construction of multifamily dwellings increased at a moderate pace in the Boston, Philadelphia, Cleveland, Kansas City, Dallas and San Francisco districts.

Commercial construction is weak, but did increase at a slow pace in most districts. Boston, Philadelphia, St. Louis and Cleveland reported some gains in demand for construction on facilities related to education, health care and other institutional-related buildings. New York noted an increase in hotel development.

Vacancy rates remained high nationwide, with the Boston, Atlanta, Chicago, Minneapolis and Dallas districts noting some increases in leasing activity. Philadelphia and San Francisco contacts saw investors intrigued by well-leased office space.

This was the final Beige Book of 2011 and the one the Federal Open Market Committee will reference when it meets again Nov. 1-2. source: www.housingwire.com

Occupy Wall Street supporters target REBNY over parks access

2011-10-23T06:30:00.000-07:00

Supporters of the Occupy Wall Street movement have now begun targeting the Real Estate Board of New York on social media and then in turn by phone, following news reports that REBNY seeks to submit a proposal to the city limiting the public access hours of privately owned public parks.

As has been widely reported, protesters affiliated with the Occupy Wall Street movement have for several weeks been camped out in Lower Manhattan's Zuccotti Park, which is owned by Brookfield Properties but is open to the public around the clock. Brookfield has expressed some misgivings about the presence of the protesters, and last week the commercial property owner, manager and developer called off a planned clean-up operation of the park scheduled for sanitary purposes at the last moment, even as the protesters began taking the clean-up into their own hands and vowed to resist any attempt at their removal.

In response to an opinion article in today's New York Times by Jerold Kayden, a professor of urban planning at Harvard University, on the legal gray area of such privately owned public spaces, and the news reports of REBNY's plans, a Twitter user called @OccupyMyCat this morning posted, "Announcement! It's time to Occupy REBNY, the Real Estate Board of New York!" In a related post, the Twitter feed @OccupyWallStNYC posted "Some #OccupyAdvice 2 concerned citizens: Make sure #RealEstateBoard doesnt [sic] close parks on 'reasonable' use pretext," and encouraged its followers to call REBNY's main number to "tell them not 2 pressure city 2 close parks." That post was shared on Twitter at least 64 times.

Occupy Wall Street organizers were not immediately reachable for comment.

Another Twitter user encouraged followers to post on REBNY's Facebook page. At least one comment on the association's Facebook page by Meghan Hines stated, "Your public spaces were gifts from the city. Don't forget that." It was later deleted. Although Twitter users made direct reference to @REBNY's twitter feed, it did not respond to those tweets in any way.

Steven Spinola, president of REBNY, said that the board received a handful of "polite" phone calls on the subject.

He said that REBNY's discussions about the proposal to bring the opening hours of privately owned public parks in line with those of city parks were in their early stages and "would probably take somewhere between six months and a year to actually carry out."

He noted that Central Park and other parks have a 1 a.m. closing time for security reasons.

"So we kind of believe that there should be similar hours for privately owned public spaces and that they have the same concerns about security," Spinola said, "and actually these places are in more residential neighborhoods, including Zuccotti Park, than the [middle of] Central Park is," where residents could also be more bothered by noise.

Spinola said that REBNY's discussions about a new policy were not intended as a direct response to the current protests in Lower Manhattan.

"This has nothing to do with what is taking place down at Zuccotti Park, other than the fact that it's drawn attention to the fact that privately owned public spaces are treated differently than parks [owned by the city]," he said. "This has nothing to do with the people that are down there now; that's going to be dealt with through other mechanisms."

Spinola said the issue came up in conversations he has had with people who are involved with plazas and similar spaces.

Earlier this week, it was reported that new signs forbidding camping had gone up at several public spaces owned by Brookfield and Rudin Management in Midtown.

John Zuccotti, U.S. chairman of Brookfield and former president of REBNY, and for whom the Lower Manhattan park was named, declined to comment. Rudin could not immediately be reached for comment regarding the REBNY proposal, but a spokesperson provided the following statement regarding the signage: "There was signage in some of our locations. It has been enhanced in keeping with City Planning Commission regulations and following the recent recommendations from REBNY on this issue." The Department of City Planning could not immediately be reached for comment. source: therealdeal.com

City housing market still supercharged

2011-01-07T05:15:00.000-08:00

Price increases poised to lead Canada

IF you thought those heady days of bidding wars and soaring house prices were over, think again.

One overjoyed St. Vital homeowner recently got $24,000 more than her asking price for her 50-year-old, 900-square-foot bungalow. And Royal LePage Real Estate Services predicted Thursday the Winnipeg market will lead the way in house-price increases for major Canadian cities in 2011.

The firm said in its fourth-quarter 2010 house-price and market forecast report it expects the average selling price for a resale home in Winnipeg to jump by seven per cent to $244,000 this year from $228,000 in 2010.

That's more than double what it thinks the national average increase will be -- about three per cent -- and well above the projected increases for the other eight cities covered in its report.

It also would come on the heels of a 10 per cent average-price hike in 2010.

The Royal LePage report notes that while the Winnipeg market has slowed a bit over the past year, demand remains strong and listings remain in short supply. That's keeping upward pressure on selling prices.

And while not as common as they were during the pre-recession boom of 2007 and early 2008, multiple offers and above-list selling prices are still very much a part of the local market, the company added.

A good example is the St. Vital bungalow Royal LePage Prime Real Estate agent Brad Gross sold last month on behalf of a client who is moving into a care home.

The woman's two-bedroom, Hindley Avenue home was listed at $199,000 and sold for $223,000. Gross said there were seven bids for the home, all at or above the listing price.

"That's pretty rare. Usually you get at least one or two that are below."

He and John Froese, a broker with Royal LePage Prime Real Estate, said the hottest-selling homes these days are bungalows. They're popular with first-time buyers because they tend to be more affordable than two-storey homes and older buyers like them because they don't have to climb as many stairs.

That's why bungalows saw the biggest price gains between the final quarter of 2009 and the last quarter of 2010. Royal LePage said the average selling price for a standard bungalow jumped by 10.3 per cent to $266,500. By comparison, the average price for a standard two-storey increased by 6.5 per cent to $296,750 and the price for a standard condo rose by 7.8 per cent to $170,286.

Although Royal LePage expects Winnipeg to post the biggest price hike this year, it predicts unit sales will essentially level off, with an increase of only 0.9 per cent to 11,600 units from about 11,500 in 2010.

Froese blames that mainly on the short supply of available homes.

"If we had more product, we could sell a lot more."

But he also noted mortgage rates are expected to start climbing again in the second quarter of this year, and that could bump some first-time buyers out of the market. Manitoba's also having a provincial election next fall, he said. That creates uncertainty, so some may postpone their house purchases until they see what happens.

Nationally, Royal LePage predicts the Canadian real estate market will follow a similar pattern this year as in 2010, with stronger sales activity in the first half of the year in anticipation of mortgage rate hikes in the second half.

"Canadians realize that interest rates are unsustainably low and that homes will become effectively more expensive when mortgage rates return to normal levels," said Phil Soper, president of Royal LePage.

However, the number of transactions will be slightly lower than last year, it added.

murray.mcneill@freepress.mb.ca

Winnipeg price changes quarter by quarter

How house prices in Winnipeg have changed from the fourth quarter of last year to the fourth quarter of this year:

Area Bungalow % Two-storey % Condo % Charleswood $262,000 8.3 $302,000 9.4 $163,000 7.2

River Heights $268,000 14.4 $310,000 9.5 $160,000 8.1

Southdale $263,000 11.1 $272,000 3.8 N/A N/A

Westwood $253,000 10.7 $290,000 3.6 $148,000 6.5

Northwest $264,000 10.9 $295,000 3.5 $210,000 2.4

Northeast $268,000 9.8 $290,000 3.6 $138,000 7.0

South St. Vital $276,000 10.9 $317,000 10.8 $190,000 9.8 Fort Richmond $278,000 6.5 $298,000 6.4 $183,000 14.4

Source: Royal LePage

Republished from the Winnipeg Free Press print edition January 7, 2011 B4
source: www.winnipegfreepress.com

Real estate stats

2011-01-07T05:13:00.000-08:00

January 7, 2011 - Multiple Listing Service sales summary data released by the Vancouver Island Real Estate Board for December 2010 shows a decrease in the number of single family unit sales at 225 down from 297 in December 2009. The average sale price of $333,710 is down 2% from December 2009 when the average sale price was $342,151.

However, as of December 2010, across the region there are currently 1,909 single family unit listings for sale and that is up from last year's number of 1,615. This speaks well for buyers and for those sellers who have priced their homes right.

When comparing the 2010 average sales across VIREB's six zones to 2009 average sales the breakdown is as follows: Campbell River $303,970 up 3% from $296,304, Comox Valley $323,914 down 5% from $339,584, Cowichan Valley $366,865 down 5% from $384,390, Nanaimo $357,101 down 5% from $376,330, Parksville/Qualicum $375,759 down 3% from $387,388 and Port Alberni/West 239,810 up 7% from $223,439
source: www.canada.com

REAL ESTATE BRIEFS

2011-01-07T05:10:00.000-08:00

January 7, 2011

By STEVE BROWN / The Dallas Morning News
sbrown@dallasnews.com

Commercial real estate firm Transwestern is handling the marketing of land at a southern Dallas County industrial development.

The 900-acre Sunridge Business Park in Wilmer is at Interstate 45, adjacent to Union Pacific Railroad Co.'s intermodal freight terminal.

The owners of the 5-year-old development have hired Transwestern to market more than 400 acres in the project for industrial, retail and commercial development. Transwestern's Sharon Morrison, Brant Landry and Blake Matthews will be working on the project.

Companies with operations in the business park include Unilever, Arch Chemical and Ozburn-Hessey Logistics.

Dallas-based NAI Robert Lynn Co. is opening a Fort Worth office.

The commercial real estate service firm will set up shop in downtown Fort Worth in April. Todd Hubbard will head up the operation.

Lynn already has 10 brokers working with clients in Tarrant County and "intends to grow the company's presence in Fort Worth dramatically over the next few years."

Duke Realty Corp. has leased almost 177,000 square feet of industrial space in Coppell to Intechra LLC, an information technology and asset disposition firm.

The space is in Duke's Freeport VII building at 611 S. Royal Lane. Intechra previously had operations in Carrollton.

Duke's Randy Wood negotiated the lease with Forshey Hoobler of Jones Lang LaSalle.

Well-known Dallas commercial real estate broker Lance McIlhenny has become a top officer at Case Commercial Real Estate Partners.

Case – formerly GVA Cawley – hired McIlhenny as senior managing director of Dallas Brokerage Services.

McIlhenny had been running his own commercial real estate firm, McIlhenny Real Estate Services.

Before that, he was with Jones Lang LaSalle and Staubach Co.
source: www.dallasnews.com

Metro Chicago Real Estate Market Registers Solid 9-Month Gain in 2010

2010-11-10T06:09:00.000-08:00

November 10, 2010 - Home sales activity in the metropolitan Chicago real estate market registered a solid gain of 11 percent for the first nine months of 2010 when compared to the same period in 2009. That was achieved even as third-quarter transaction volume was 22.8 percent lower than the same period last year.

The sales figures, analyzed by RE/MAX, are for the seven-county Chicago metropolitan area and are based on information supplied by Midwest Real Estate Data, LLC. The seven-county metropolitan area includes the Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will.

The median sales price for homes in the metro area during the January-September period was $190,000, 5.7 percent lower than the median of $201,500 recorded for the same months in 2009. However, the average price of homes sold was more resilient, falling just 1 percent to $255,684 from $258,354 a year earlier.

"The market can now fully appreciate the impact of the homebuyer tax credit," said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. "Although it helped sales generally, especially sales of attached units (which consist primarily of condominium apartments and townhouses), once the tax credit expired, sales of attached units fell more sharply than sales of traditional detached homes. When you look at the first three quarters of 2010, attached homes registered a larger percentage sales increase than did detached homes."

Sales of detached homes were 34,922, up 10.6 percent for the January-September period in the metro area, while sales of attached home increased 11.5 percent to 19,520 when compared to 2009 results. During the third quarter, however, sales of attached homes were 5,580, 28 percent below the 2009 level, while sales of detached homes dipped 19.9 percent to 10,793.

The average price of a detached home increased slightly $266,444 for the first nine months of 2010 from $265,639 during the same period in 2009. For attached homes the average price for the first nine months of the year slipped to $236,434 in 2010 from $245,215 in 2009, a 3.6 percent decline.

The average time on the market for detached homes sold during the third quarter was 148 days, down from 168 days a year earlier. The average market time of attached homes sold in the July-September period was 168 days, up from 165 days in 2009.

"The third-quarter slowdown in home sales was felt broadly," said Merrion. "All seven counties in the metro area recorded an increase in sales activity for the first nine months of the year when compared to the same period in 2009, but all counties also showed declines in sales activity during the third quarter. Kane County turned in the best nine-month performance with a 31 percent total increase to 3,667 homes from 2,795 a year earlier."

Of the 258 suburban market areas and 77 City of Chicago neighborhoods that RE/MAX tracks on a quarterly basis, 185 towns and 56 neighborhoods had increased sales activity during the January-September period when measured against 2009, but only 42 towns and 16 neighborhoods recorded gains in sales transactions when the third quarter of 2010 is compared to that same portion of 2009. source: www.sfgate.com

Vancouver the most expensive commercial real estate market in Canada: Avison Young

2010-11-10T06:07:00.000-08:00

Vancouver’s pricey commercial real estate market is driving investment volumes across Canada.

This according to commercial real estate firm Avison Young, which released a report Tuesday morning indicating the Canadian commercial real estate market in 2010 had already surpassed 2009 sales totals.

At the end of the third quarter, more than $12 billion in commercial real estate assets had changed hands in 2010, a 57% increase when compared with the same nine-month period in 2009.

Although Toronto remains the most active commercial real estate market across the country, Vancouver is the most expensive.

According to Avison Young, Vancouver accounted for $2.4 billion in commercial real estate sales in the first nine months of 2010.

That represents a 34% increase when compared with the same period last year and is 20% of the total investment volume across the country in 2010.

As well, the national average cap rate for major property types, that is the ratio between a property’s net operating income and its capital cost, has declined 50 basis points to 6.75%.

Across Canada, cap rates range from an average low of 5.97% for multi-residential properties to 7.47% for multi-tenant industrial buildings, Avison Young said.

Vancouver’s 6.12% average cap rate makes it the highest-priced market in Canada.

Avison Young principal Mike Gill explained, "The recent influx of foreign capital from Europe, the far east and the Middle East, together with competition from local investor capital, has applied further pressure to already declining cap rates for the premier assets."

The real estate firm predicts further “compression” of cap rates across Canada based on increased bids for assets, low interest rates, ample liquidity and a steady flow of product to the market.
source: www.bivinteractive.com

Resale market slows, but prices stay strong

2010-11-10T06:06:00.000-08:00

Montreal's housing resale market continued to slow in October, year over year, but prices remain strong because of "market conditions" favouring sellers, the Greater Montreal Real Estate Board said yesterday.

Sales of residential homes dropped 19 per cent in October, compared with the same month in 2009, with plexes the hardest hit housing category, Multiple Listing Service data show.

Year to date, sales are still up three per cent over last year, because of a sizzling first quarter.

"After posting record sales levels in October 2009, it's normal that the Montreal real-estate market was less active this October," said Diane Menard, vice-president of the GMREB's board of directors.

"Furthermore, 2009 and 2010 were very different years on the real-estate market: 2009 began with a significant decrease in sales due to the recession and ended with record-high sales. Conversely, 2010 started off strong with record-breaking months but sales have returned to their usual levels."

The median price of a single-family home in the Montreal area grew eight per cent compared with October 2009, reaching $260,000.

The median price of condominiums increased by 12 per cent to reach $218,000, while the price of plexes increased by nine per cent to reach $380,000.
source: www.montrealgazette.com

Asia’s real estate investment market activity rose 53% in Q3

2010-11-10T06:04:00.000-08:00

Activity in Asia’s real estate investment markets rose significantly in the third quarter of 2010 amid noticeable improvement in investor sentiment. In the quarter, most of the region’s major real estate markets regained momentum after the brief period of uncertainty following the onset of the eurozone sovereign debt crisis. Direct real estate investment in the region, excluding land transactions, grew by 53 per cent quarter-on-quarter to an estimated US$18 billion, according to CB Richard Ellis’ Asia Investment MarketView report for the third quarter of 2010. Overall transaction volume in the first nine months of 2010 reached US$46 billion, a 102 per cent surge compared with the same period of 2009.

Investors gravitated to the most liquid locations. Hong Kong was the most active market in terms of investment volume, accounting for US$5.2 billion, or 29 per cent of the total regional volume, followed by Singapore and Japan, which accounted for 22 per cent and 20 per cent respectively. China, South Korea and Singapore all posted strong quarter on- quarter increases in transaction volume, rising by 191 per cent, 165 per cent and 161 per cent respectively, as institutional investors continued to display a strong appetite for prime investment property in these markets. However, it should be noted that the significant quarterly increase in investment volume could be partly attributed to the strengthening of Asian currencies against the US dollar in the review period, which substantially inflated the overall volume in US dollar terms.

Cross border real estate investment activity in Asia surged in the third quarter, accounting for US$3.1 billion. This signalled an 80 per cent quarter-on-quarter rise, although this figure was still relatively low compared to the 2007 peak of US$6.3 billion. Investment by non-Asian investors also picked up markedly to an estimated US$1.7 billion, while investment activity by institutional investors and REOCs (Real Estate Operating Companies) also took off, with total investment volume reaching US$7.8 billion, a surge of 66 per cent from a year ago.

The office sector attracted US$7.4 billion in investment in the third quarter, representing 41 per cent of the total investment volume. The sector also accounted for six of the ten largest transactions recorded in the period. Deals involving office properties were most prevalent in Singapore, Hong Kong and South Korea, and these markets collectively accounted for US$5.3 billion in transactions. With the exception of Japan, office capital values continued to recover strongly in the third quarter, and the rate of increase was noticeably faster than that seen in the previous two quarters. The overall weighted average office yield fell for the fifth consecutive quarter by a marginal 5 basis points to 4.80 per cent.

Investment in retail assets also improved noticeably in the third quarter, underpinned by robust domestic demand and rise in the number of inbound tourists. Transactions of major retail properties accounted for US$4.3 billion or 24 per cent of total investment turnover. Japan recorded the largest proportion of retail investment in the region during the period, accounting for US$1.7 billion. The industrial sector also recovered steadily with transactions for industrial assets amounting to US$1.1 billion, similar to that in the first and second quarter of 2010, but jumping 65 per cent year-on-year from US$668 million recorded in the third quarter of 2009.

“We saw noticeable improvement in investor sentiment and transaction volume in the third quarter but weakening economic indicators could still have negative impact on growth. In particular, risks associated with volatile exchange rates and monetary policy settings by major Asian governments remain a cause for concern,” said Andrew Ness, Executive Director of CBRE Research Asia. “Nevertheless, we remain generally optimistic about the market outlook and continue to retain our earlier forecast that real estate investment in the region should reach a total of around US$60 billion for 2010.”source: www.property-report.com

Steady Improvement Predicted for Commercial Real Estate Market

2010-11-06T07:08:00.000-07:00

NEW ORLEANS, LA -- (Marketwire) -- 11/05/10 -- While still experiencing challenges, the commercial real estate market could see signs of steady improvement in the near future, specifically concerning lending. This is according to two economists at the Economic Issues and Commercial Real Estate Business Trends Forum at the 2010 Realtors® Conference & Expo in New Orleans today.

Realtors® Chief Economist Lawrence Yun and Hugh Kelly, clinical professor of real estate at New York University Schack Institute of Real Estate, shared their predictions surrounding the commercial market, indicating a slight improvement in commercial lending.

"Banks' profits have returned to healthy levels. As a result, it is inevitable they will return to the business they were created for, which is lending," said Yun. "Commercial real estate has experienced a sharp price correction, but there is still a shortage of buyers because of lack of adequate capital resources."

Kelly pointed out that most commercial mortgages have been random and idiosyncratic, stressing that the lending environment should not remain that way. "The banks are in the driver's seat, meaning they can cherry-pick deals and there is no stigma to turning away business," said Kelly. "The capital flow in the commercial real estate market has been very selective. To achieve full recovery, lending practices must improve."

In addition to capital flow, the commercial market depends largely on job creation. Yun stated that since the beginning of 2010, 1 million jobs have been created, yet this number is not high enough. "We have turned a corner and while some job creation is good, we are still at close to 10 percent unemployment," said Yun. According to Yun, the country needs to create much more than 100,000 jobs per month to have a meaningful impact on vacancy rates.

Another challenge affecting the commercial market is corporate profits versus business spending. Yun said in an ideal market, corporate profits and business spending correlate; however, business spending currently is stagnant. Corporate profits have returned to normal, yet companies are not spending their cash. Yun described several reasons for why businesses are not spending, but he said it comes down to consumers and companies being unsure of the future economic climate.

A majority of the commercial real estate sectors are still experiencing hardships with office and retail vacancies continuing to rise. However, Yun said with imports and exports in the U.S. rising, the demand for industrial space will improve. The only sector continuing to perform well is multifamily. Vacancy rates for multifamily properties are falling and rents are expected to rise. Yun said this was mostly due to home ownership rates falling and people postponing home purchases.

Yun's 2011 commercial forecast shows steady improvement in the market with rents stabilizing and net absorption slowly improving. Yun also predicts a moderate GDP expansion of 2 percent to 2.5 percent in the next two years and an unemployment rate of eight percent in 2012 and six percent in 2015.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org : . This and other news releases are posted in the Web site's "News Media" section in the NAR Media Center.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

For further information contact:
Leanne Jernigan
202/383-1290
Email Contact :

source: www.live-pr.com

Good News (No, Really) for Real Estate Market

2010-11-06T07:06:00.000-07:00

source: seekingalpha.com

November 05, 2010 - MIT’s Center for Real Estate announced Thursday that commercial property values sank by 7.3% during the third quarter. The news isn’t as bad as it sounds, though—and provides another reason for confidence about acquisitions by publicly traded REITs going forward.

The Transactions-Based Index (TBI) measures changes in property values that are revealed by transactions from among the properties in the data base of the National Council of Real Estate Investment Fiduciaries (NCREIF) — primarily properties owned by large pension funds. The TBI shows that property values are still 36.3% below their peak in 2007Q2, though 4.7% above their 2009Q2 trough.

In a commentary published along with the TBI, MIT Professor David Geltner pointed out the good news in the dismal numbers: “the number of transactions in the TBI was greater, both in number and in percent of the stock, than in any quarter since the end of 2007.” Increased transaction volume means that sellers are finally becoming more willing to part with their assets, and that investors with access to capital are finally getting the chance for accretive acquisitions.

Dr. Geltner noted that “trophy” properties actually continued to increase in value, and now are worth roughly 14% more than at their trough. In fact, he thinks that the improvement in the “trophy” market is what has made it possible for pension funds and their investment managers to start putting other properties on the market: “NCREIF members used the opportunity of greater-than-expected profits on larger properties to allow them to cull” properties that don't fit as well in their portfolios.

This dynamic is important for REIT investors. REITs’ access to capital on favorable terms gives them a competitive advantage over other real estate investors. Until recently, however, about the only assets available for purchase have been those “trophy” properties, whose values have been pushed up by the general “flight to quality.” So the fact that transaction volume is up—especially in the non-trophy part of the market—suggests that REITs will have more opportunities to pick up good acquisitions before the recovery spreads to non-trophy properties—which, eventually, it will. Those accretive acquisitions will likely be a significant part of what REIT investors think will become strong earnings growth going forward.

Disclosure: Author is long ING Real Estate Fund and Vanguard REIT Index Fund.

Local real estate market takes another dip

2010-11-06T07:04:00.000-07:00

source: www.thedestinlog.com

November 05, 2010 11:00 AM

Although it’s no longer making national headlines and further derailing the Emerald Coast’s booming tourist season, the Deepwater Horizon Oil Spill is still having an impact on the real estate market along the coast. According to statistics released by the Emerald Coast Association of Realtors, sales along the Emerald Coast for September were down two percent, with single family residential sales down approximately 10 percent, when compared to September 2009.

“According to the September sales statistics, sales were up in South Walton County and Crestview despite low tourism and traffic caused by the oil spill,” said Mary Anne Windes, ECAR president.

South Walton County and Crestview sales both increased by 10 percent over last year. Destin was down 10 percent; Fort Walton Beach was down 15 percent; and North Walton County was down nearly 20 percent.

Even with the less-than-stellar real estate sales across the area, a definite bright spot was in condo sales. Across the Emerald Coast, condo sales were up 15 percent in September when compared to 2009. Both Fort Walton Beach and South Walton County saw an increase in condo sales.

“With the oil/media crisis behind us, many consumers are regaining confidence in our (South Walton) market,” said Marilue Maris, Realtor with ResortQuest Real Estate. “So many buyers were ‘on the fence … waiting.’ They are now writing up offers and making purchases of a lifetime.”

While some of the immediate effects of the oil spill are no longer noticeable and the nation has moved on to a newer story, the residents of the Emerald Coast will not forget the impact the oil spill had on our area, in all facets of life. Like every other industry, the real estate market will recover, stronger and better than ever before.

“The real estate market seems poised now to put the oil spill behind it and move forward with the promise of a strong finish, much like the first of the year started out,” said Windes, broker/owner of The Real Estate Professionals of Destin.

This article was contributed to The Log by the Emerald Coast Association of Realtors.

Investing In Green-Building Real-Estate Companies Becoming More Viable

2010-08-17T18:44:00.000-07:00

17 aUG, 2010 - Not everyone who believes in the future of green buildings can build one themselves, but investing in real estate companies that share this conviction is an increasingly viable option.

Real estate companies and real estate investment trusts have been boosting the environmentally friendly credentials of their buildings, often turning to the U.S. Green Building Council's Leadership in Energy and Environmental Design rating system.

Out of 135 REITs, 52, or about 38%, have some space that they disclose as having a LEED certification of some type. This accounts for about 9% of the total space owned by public REITs, according to Uniplan Investment Counsel Inc., an investment advisory firm.

"One thing that's interesting is even despite the downturn, real estate investors have remained focused on energy efficiency" said David Wood, Director of the Initiative for Responsible Investment at Harvard University. "In part that is because it is something they can focus on. You can work on benchmarking their performance even while the market is fairly frozen."

Some REITs say that over the last few years they have constructed all-new buildings to a LEED standard and are looking to renovate existing buildings to make them greener. Since buildings are a long-term asset, these REITs say sustainability is a good long-term investment since the future looks green.

Jack Rizzo, chief sustainability officer for ProLogis (PLD), said building green increases the value of the property long-term and improves tenant retention rates. ProLogis is a REIT that owns warehouse facilities. It has 45 million square feet certified as green building out of a total portfolio of 475 million square feet worldwide.

The company made an official commitment in 2008 to build all new buildings in an environmentally friendly way. It has therefore obtained a listing on green indexes like the Dow Jones Sustainability Index, which has offered up a new set of investors, Rizzo said.

Publicly traded real estate company Thomas Properties Group Inc. (TPGI) Executive Vice President Randy Scott said green buildings mean lower operating cost and more efficient operation.

"Those savings end up being shared with the tenants who lease our building," Scott said. "It becomes a competitive advantage for us. We believe LEED-rated buildings have an advantage in the marketplace."

Thomas Properties has 15.4 million square feet under management and 13.4 million feet are buildings considered Energy Star-rated, which is an Environmental Protection Agency energy efficiency standard. Also, 4 million square feet of its portfolio is LEED-certified and another 5.3 million square feet is in the process of obtaining LEED certification. Scott also said investors have responded well to the company's green strategy.

Uniplan says that REITs that have a better Progressive Score--a rating system that the company uses that includes areas like sustainability, government relations and worker treatment--tend to have a higher return on invested capital over a complete real estate market cycle.

"This will normally result in share price outperformance relative to their lower-ranked peers," said Uniplan President Richard Imperiale.

The National Association of Real Estate Investment Trusts realized green buildings were becoming an important part of the industry and created the Leader in the Light award program in 2005 to recognize companies that had outstanding energy efficiency.

"Even in the challenging market conditions of recent years, more and more REITs have shown that a consistent focus on sustainability and energy efficiency is not only a positive for the company and the environment, but also for shareholders," said Sheldon Groner, executive vice president of finance and operations for NAREIT.

Steve Frankel, an analyst with Green Street Advisors, an independent research company that focuses on publicly traded real estate companies, said green buildings cost about 2% to 5% more to build, but the extra cost is made up through operational savings.

"Buildings in the future are going to have to have environmental elements and if you're not building a building that's environmentally friendly it might go obsolete quickly," Frankel said. "Also, you'll get a better net rent over time because it generates lower operating costs."

-By Sari Krieger, Dow Jones Venturewire; 212-416-2016; sari.krieger@dowjones.com
source: online.wsj.com

Real estate trouble in the Golden State?

2010-08-17T18:38:00.000-07:00

08/17/2010 - Today: Southern California home sales plunge in July. Zynga buys a Boston game developer. Hewlett-Packard buys San Mateo software maker Fortify.

Real estate trouble?

Last week, we had a report from the National Association of Realtors of a second-quarter upturn in the real estate market -- especially in California metro areas such as San Jose and San Francisco.

That report, though, came with a warning of a summer slowdown, in part because of the expiration of federal tax credits of as much as $8,000 for many homebuyers.

Today, we definitely have evidence of a housing market slowdown in the Golden State. According to MDA DataQuick, the number of home sales throughout Southern California in July had its biggest year-over-year drop in two years.

In Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties, the number of sales was down 20.6 percent from the month before and 21.4 percent from July 2009.

"It appears some of the sales that normally would have occurred in July were instead tugged into June or even May as buyers tried to take advantage of the expiring tax credits," DataQuick President John Walsh noted today. 'Some of last month's underlying technical numbers were largely flat, indicating that the market is treading water."

Despite the drop in sales, the median home price in the region climbed 10.1 percent year over year to $295,000.

As for Silicon Valley and other counties in Northern California, we expect DataQuick to report data for July later this week.

Zynga buys Conduit Labs

Zynga, the San Francisco maker of Facebook games such as "FarmVille," has bought Conduit Labs, a social games upstart based in Boston.

Terms of the deal weren't disclosed, but Conduit Labs CEO Nabeel Hyatt will now be in charge of Zynga's Boston game studio. Conduit's titles include music games such as "Loudcloud."

"We have always had the desire at Conduit to build something ambitious, and we recognized that sometimes the best way to achieve these dreams is with a partner who can bring amazing resources to bear," Hyatt wrote today on his startup's official blog.

Conduit was founded in 2007; it has received funding from Charles River Ventures and Prism VentureWorks. According to TechCrunch, the two firms have poured $8.5 million into the startup in two funding rounds.

HP buys Fortify

Palo Alto tech giant Hewlett-Packard has acquired Fortify Software, a San Mateo software upstart founded in 2003 in the basement of Silicon Valley venture capital powerhouse Kleiner Perkins Caufield & Byers. Financial terms weren't disclosed.

Fortify makes software that helps businesses protect digital information, reduce risk and comply with financial regulations. The company initially operate as a stand-alone business, but will be integrated over time into HP's software and solutions unit.

"Fortify has always been committed to helping chief information security officers and application teams find, fix and prevent

security vulnerabilities before they can be exploited by attackers," Fortify CEO John Jack said in a news release. "Joining HP will allow us to further integrate our proven technology and security expertise with HP's solutions."

According to a recent Mercury News profile, Fortify has received more than $40 million in funding from Kleiner Perkins and other investors.

More tech headlines

Aruba Networks: The Sunnyvale maker of wireless equipment is expanding a partnership with Texas computer maker Dell. In a multiyear deal, Aruba's wireless networking technology will be sold under Dell's PowerConnect brand.

The deal with Aruba follows Dell's announcement yesterday that it intends to buy Fremont data storage provider 3Par for $1.15 billion.

Microsoft: The Redmond, Wash., software behemoth is linking its popular Xbox 360 video game console with its upcoming Windows 7 Phone software.

According to our friends at The Associated Press, Microsoft intends to deploy Xbox game developers to create titles for its smartphone platform. Microsoft also intends to make it more efficient for outside developers to make games for both the Xbox and Windows phones.

Silicon Valley tech stocks

Up: Apple, Google, Cisco Systems, Oracle, Intel, HP, VMware, eBay, Gilead Sciences, Yahoo and most Silicon Valley tech stocks were higher.

On Wall Street today, strong earnings from retail giants Walmart and Home Depot fueled investor enthusiasm.

The tech-heavy Nasdaq composite index: Up 27.57, or 1.3 percent, to 2,209.44.

The blue chip Dow Jones industrial average: Up 103.84, or 1 percent, to 10,405.85.

And the widely watched Standard & Poor's 500 index: Up 13.16, or 1.2 percent, to 1,092.54.
source: www.mercurynews.com

Best Obama’s Mortgage Loan Modification Program Today 2010

2010-08-08T08:22:00.000-07:00

World economy has taken a major hit. People all over the world are having a hard-time managing their deteriorating finances. Job losses and demotions have become routine in all companies. In such a situation, mortgage loan has become a burden for many homeowners. If your savings are depleting, and monthly payments becoming a nightmare, then it is time to consider a obama mortgage loan modification.

What is loan modification?

It is a change in the terms of a mortgage, which is usually facilitated by the loss mitigation department of a lender when a borrower has missed (or expects to fall behind) on their mortgage payments. It is offered by the same mortgage company, unlike refinancing where one has to approach a different finder. Hence, closing fees is not charged. Also, it is easier to avail loan modification as compared to refinancing.

Homeowners can approach a loan modification service provider for professional assistance. This will boost their chances of a loan modification approval as they can negotiate with the lenders in a better manner. They assist the borrowers in filling out forms, writing the vital hardship letter, and handling the legal issues with ease. A homeowner in crisis may think of saving up on the fees to be given to the mortgage modification service providers by undertaking the procedure themselves. However, their assistance will prove beneficial because they can most probably grab a better deal for the debtors.

Obama’s Loan Modification Programs and Your Money with Mortgage Loan Modification

A loan modification benefits the defaulter in the following ways:

* interest rate on the loan may be decreased
* interest rate may be converted to a fixed rate rather than a variable one
* the repayment terms can be modified and stretched out to allow a longer repayment period
* the balance on the loan can be reduced if it is verified that the outstanding balance exceeds the existing value of the home
* one or more of the above conditions may be granted by the lenders

In the present scenario, home loan modification is offered by many lenders to help defaulters get back on track financially. It is in the interest of the lenders as well, because a foreclosure or bankruptcy can be avoided in the future.

source: www.mortgage11.com

Property Firm That Lost Value Sues Halliburton

2010-08-05T06:05:00.000-07:00

AUGUST 5, 2010 - St. Joe Co., a large Florida real-estate developer that owns resorts on the Gulf of Mexico, filed suit against oil-services company Halliburton Co., seeking more than $1 billion in damages related to the Deepwater Horizon oil-rig explosion and subsequent oil spill.

In a complaint filed in state court in Delaware late Wednesday, St. Joe said that Halliburton, which provided key structural work on the oil well, "ignored multiple warning signs" that could have prevented the disaster.

St. Joe, which owns 577,000 acres of land in Florida mostly within 15 miles of the Gulf and is the biggest landholder in the Florida Panhandle, said the April disaster resulted in huge losses for the company when hundreds of tourists canceled vacation plans to stay at its resorts.

The company's stock price fell by 40% in the weeks after the blowout, resulting in a $1 billion decline in market capitalization. The shares have remained depressed even since BP stopped the gushing oil on July 15.

Although Halliburton had workers aboard the rig the day of the explosion, it was not responsible for making most decisions on the well.

Halliburton, in a statement, said it has not seen the lawsuit yet, but from what it has seen in the media, "it appears to be without merit and we will vigorously defend it."

Gulf Coast residents, businesses and environmental groups have filed hundreds of lawsuits against Halliburton, BP PLC, which operated the well, Transocean Ltd., the rig's owner, and others, seeking compensation for damage from the spill. The suit by St. Joe is one of the first by a publicly traded company claiming damages, in part, due to a loss of investor equity.

St. Joe sued Halliburton first, rather than BP, because it was the quickest way for the company to recoup the majority of its losses, said William Brewer, a partner with Dallas-based Bickel & Brewer, who is representing St. Joe. The company hasn't sued Transocean because Transocean has asked a federal court to cap its liability at $27 million, Mr. Brewer added. St. Joe said it still may file claims against BP, Transocean and other companies involved in the disaster.

In June, BP agreed to establish a $20 billion claims fund to address losses for Gulf Coast residents and business owners. Mr. Brewer said St. Joe wasn't seeking compensation from that fund because doing so might require the company to release BP from liability for any other claims. Mr. Brewer said St. Joe chose to target Halliburton because it considered it equally responsible with BP for the blowout.

"Our market cap has stayed depressed, our sales are impacted, and there is certainly an interruption in our business," Mr. Brewer said, adding that investors will avoid the Florida Panhandle for some time because of a perceived heightened risk.
source: online.wsj.com

Copper Drops in New York on Concern About Outlook for Chinese Real Estate

2010-08-05T06:03:00.000-07:00

Aug 5, 2010 - Copper fell in New York and London on concern about the outlook for the real-estate market in China as the government assesses the risk of a possible property-price slump.

China’s banking regulator told lenders to include worst- case scenarios of prices dropping 50 percent to 60 percent in cities where they have risen excessively, a person with knowledge of the matter said. The country is the world’s biggest copper user. Construction accounts for a quarter of demand, according to the Copper Development Association.

Industrial metals were “weaker overnight on worries over the Chinese bank stress tests,” David Thurtell, a Citigroup Inc. analyst in London, said by telephone.

Futures for September delivery fell 2.65 cents, or 0.8 percent, to $3.378 a pound at 8:02 a.m. on the Comex in New York. The contract yesterday reached the highest intraday price since April 29. Copper for delivery in three months declined 0.7 percent to $7,455 a metric ton on the London Metal Exchange.

Prices also slid as orders to draw copper from stockpiles declined for a second day. “It’s the seasonal weak spot for consumption,” Thurtell said.

Chinese regulators have tightened real-estate lending and cracked down on speculation since mid-April, after residential real-estate prices soared 68 percent in the first quarter from a year earlier, according to estimates from Knight Frank LLP.

Demand Growth

Measures to prevent overheating in China are a “good thing to happen,” Rodrigo Toro, corporate senior sales vice president at Codelco, told reporters at the World Expo in Shanghai. They will cap China’s annual demand growth at 8 percent and may keep it at that rate in coming years, he said. Santiago-based Codelco is the world’s largest copper producer.

Canceled warrants, as the orders are known, tracked by the LME dropped 4.8 percent to 28,500 tons, daily exchange figures showed. Warrants are down 13 percent this month after falling 5.5 percent in July.

Copper stockpiles shrank for a second day, slipping 0.2 percent to 413,075 tons. They declined 8.3 percent in July, the most since June 2009, and are down 18 percent this year, on course for the first annual drop since 2004.

Aluminum for three-month delivery on the LME dropped 0.3 percent to $2,222.50 a ton. The contango, cash metal’s discount to the three-month contract, widened to $10.50 a ton yesterday from the prior session’s $10.25, according to LME data. It reached $10 on Aug. 2, the narrowest level since March 23, 2007.

Shift to Backwardation?

“It’s looking increasingly likely that the market could move into backwardation,” Gayle Berry, an analyst at Barclays Capital, said by e-mail yesterday, referring to a premium for cash metal to the three-month contract. “Limited availability of spot metal due to the strong recovery in demand, tight scrap supply and a lot of LME metal being tied up in financing deals” lie behind the shift, she said.

An estimated 70 percent of LME aluminum inventories are tied up in financing transactions, according to Mitsui Bussan Commodities, the industrial-metals trading arm of Mitsui & Co. Stockpiles of the lightweight metal in LME warehouses have dropped 4.9 percent this year to 4.40 million tons.

“I don’t think that financing deals will be broken en masse,” Berry said. “That would require a much tighter spread, especially since further out on the curve there is still a decent contango.”

Higher prices for longer-dated contracts give more scope to profit by buying physical metal and selling futures, provided financing, insurance and storage costs are less than the price difference between corresponding futures.

Tin, Nickel

Tin rose 1.3 percent to $20,560 a ton. The metal, mainly used in electrical soldering, climbed as high as $20,698, the highest intraday price since Aug. 27, 2008. LME inventories dropped to 14,715 tons, the lowest level since June 1, 2009.

A single party holds between 50 percent and 79 percent of stockpiled LME metal, according to exchange data as of Aug. 3. That was up from between 40 percent and 49 percent on July 27.

Lead fell 0.9 percent to $2,222 a ton and zinc slipped 0.1 percent to $2,118 a ton. Nickel gained 0.7 percent to $22,100 a ton after reaching $22,139, the highest since May 24.

source: www.bloomberg.com

Tokyo Shares End Higher As Exporters, Real Estate Stocks Rise

2010-08-05T05:59:00.000-07:00

5 Aug, 2010 - TOKYO (Dow Jones)--Tokyo stocks rose Thursday as a weaker yen lifted major exporters, while real estate stocks like Mitsubishi Estate and Mitsui Fudosan gained sharply after data showed a fall in closely watched Tokyo office vacancy rates.

The overall market opened stronger after U.S. data showed a bigger-than-expected increase in private-sector jobs last month. Investors are paying close attention to Friday's U.S. payroll data for clues on the future course of the nation's monetary policy. Depending on the data, speculation may grow that the Federal Reserve might take additional easing steps next week, which could cause the dollar to fall.

"Investors may not take large positions until the FOMC meeting on Tuesday as there is a risk that exporters may fall," said Tsuyoshi Kawata, senior strategist at Nikko Cordial Securities, adding that the Nikkei may remain between 9300 and 9800 for the next few days.

The Nikkei 225 Stock Average rose 164.58 points, or 1.7%, to 9653.92. The Topix index of all the Tokyo Stock Exchange First Section issues rose 11.16 points, or 1.3%, to 857.09, with all 33 Topix subindexes closing in positive territory.

Exporters gained, as the dollar traded above Y86 today. Sony gained 2.6% to Y2,715 and Fanuc added 3.7% to Y10,380.

Real estate stocks staged a rally on data showing a decline in office vacancy rates in central Tokyo for the first time in 2.5 years as of end-July. Mitsui Fudosan gained 5.7% to Y1,340 while Mitsubishi Estate rose 5.5% to Y1,277. The Topix real estate subindex led the board with a gain of 4.9%.

Toyota Motor, which released strong first-quarter results after the market close Wednesday, rose to an intraday high of Y3,195 before ending up 0.5% at Y3,105. Analysts credited the good earnings figures as mainly due to substantial profits in the firm's finance business, however, noting that the operating profit margin stood at just 4.3%, fairly low compared with Toyota's rivals.

By contrast, Isuzu Motors jumped 6.0% to Y264 after it swung to a net profit for the April-June quarter and doubled its full-year net profit outlook.

Asahi Breweries gained 2.0% to Y1,597 and Kirin Holdings added 1.5% to Y1,181 on a Nikkei report that they are ramping up beverage production amid the summer heatwave.

On the other hand, Renesas Electronics dropped 3.4% to Y704 after Goldman Sachs cut its rating to Neutral, saying fix cost reductions are expected to remain between Y20 billion to Y30 billion, short of the brokerage's expectation of between Y40 billion to Y50 billion. The brokerage said as the company's break-even point has blurred, it is difficult to draw a picture of profit recovery until sales growth is confirmed.

September Nikkei 225 futures closed up 130 points, or 1.4%, at 9620 on the Osaka Securities Exchange.

-By Ayai Tomisawa, Dow Jones Newswires, 813-6269-2793, ayai.tomisawa@dowjones.com
source: online.wsj.com

Small Boost to Tokyo Real Estate Means Big Gains for Stocks

2010-08-05T05:52:00.000-07:00

August 5, 2010 - Here’s another sign Japan’s fortunes are improving: More people seem to want offices.

The office vacancy rate in central Tokyo fell in July for the first time in two and half years, according to consulting and planning agency Miki Shoji. The improvement was modest at best — the average vacancy rate for five central wards in Tokyo fell 0.04 percentage point from June to 9.10%.

Still, investors seized on the slimly positive news, bidding up shares of real-estate companies. Mitsui Fudosan was up 5.7%, Mitsubishi Estate up 5.5% and Nomura Real Estate Holdings up 7%. “Once office vacancies bottom, a moderate recovery will likely continue for some time,” says Naoki Fujiwara, fund manager at Shinkin Asset Management. The Nikkei Stock Average was up 1.7%.

Mr. Fujwara cautioned that average rents will likely take much longer to show signs of recovery. “Rent (increase) contributions to profits are still far off, but at least we are finally starting to see some hope,” he said.
source: blogs.wsj.com
Real Estate Market Reference Center

Real estate now buyer's market

2010-08-05T05:48:00.000-07:00

August 5, 2010 - Greater Vancouver's housing market has caught a chill in the middle of summer.

Residential property sales in Greater Vancouver tumbled 45.2 per cent in July from the same month in 2009, the Real Estate Board of Greater Vancouver said Wednesday. July 2009 is the highest selling July on record at the Greater Vancouver board. Sales last month also fell 24.1 per cent from June 2010, the board said.

"Home-sales activity in Greater Vancouver was quieter last month than most Julys over the past decade, with residential sales, prices, and the number of homes listed for sale trending downward in recent months," it said.

The benchmark price for all residential properties has fallen 2.8 per cent to $577,074 from the all-time high of $593,419 reached in April, the board said. Prices in July, however, remained 9.1 per cent higher than a year earlier.

The recent cooling translates into a buyer's market. "With the pace of home sales and listings easing off in our market, we've begun to see a levelling of home prices from the record highs seen in the spring, creating greater affordability," board president Jake Moldowan said.

The number of listings on the MLS last month fell 6.5 per cent from June 2010. Listings, however, are up 33 per cent from July 2009.

"It's currently taking home sellers . . . on average, 45 days to sell their property, which is a historically healthy time frame for both sides of a transaction," Moldowan said.

Year-over-year sales of detached properties fell 43.7 per cent in July, apartment sales dropped 42.7 per cent, and attached-property sales declined 53.5 per cent. pluke@theprovince.com twitter. com/provmoney
© Copyright (c) The Province

Real Estate Market Reference Center
source: www.theprovince.com

Lexington Housing Market Update

2010-08-01T21:22:00.000-07:00

Monday, 02 August 2010 19:06
Are you interested in buying a new home here in Lexington any time soon?
Video Click Here
If so, you probably want to know how the real estate market is doing at the half-way point of 2010.

In 2009, the housing market in the United States faced one of it's toughest years...as many new homes simply just sat on the market for months with no buyers.
While that was the trend nationally...here at home in Lexington...that hasn't been the case.

"Interest rates have dropped and they are now at historical lows. They are low as they have been in fifty years and that's also bringing people into the market," says Mortgage Broker Bryan May

"We turned into a buyers market when things started going down hill. Inventory was up significantly and the people that are selling, have to sell most of the time, so they are kinda at the buyers mercy."

Holly Browning, who has been a realtor for many years says typically, when buying a home...it's the sellers market versus the buyers market...and with today's economy...if you're interested in buying that new dream home...your chances of getting one cheap...are pretty high.

"No matter how young or old you are. If you're in a stable position with your job and income, it's a good place to put your money," adds Browning

Browning admits with the world equestrian games headed to the bluegrass soon...that has helped the market locally as well

"'we've seen a lot of activity in the real estate with markets, with rentals but we're also had a few buyers that are coming here loving Lexington and buying some homes to come back to."

Loretta Fugate spent her Sunday afternoon house shopping for her sister who is planning to move Lexington.
Fugate say's she definitely keeps her eyes and ears open...on the up and down market

"when I see it going down, that terrifies me, so if the houses on my street," explains Fugate

SOT
"interest rates have dropped and they are now at historical lows. They are low as they have been in fifty years and that's also bringing people into the market."

Real Estate Market Reference Centersource: www.wtvq.com

Growth in Chinese manufacturing continues to slow

2010-08-01T21:16:00.000-07:00

BEIJING (AP) - Expansion of Chinese manufacturing activity slowed for the third month in July, as production, new orders and purchasing prices all declined, a survey showed Sunday.

The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index, or PMI, fell to 51.2 in July from 52.1 in June. Numbers above 50 show manufacturing activity expanding.

The index, an indicator of future manufacturing trends, has remained above 50 for 17 straight months after slowing in late 2008 and early 2009. It was 53.9 in May and 55.7 in April.

Areas such as production, new orders and purchasing prices all declined, according to a summary of the survey posted on the federation's website. Meanwhile, the employment index was up.
The slowdown was expected given efforts to cool property prices by tightening credit, as well as a tapering off of government-backed stimulus spending on construction and other projects. Economic growth slowed to 10.3 percent over a year earlier in the second quarter, down from its blistering 11.9 percent first quarter pace.

The slowdown might weaken the global recovery if it cuts Chinese demand for imported iron ore, industrial machinery and other foreign goods.

"The foundation for investment and export growth is not steady enough. There is a possibility that the speed of growth in those areas could decline by a large margin," the summary quoted government analyst Zhang Liqun as saying.

However, Zhang predicted overall stable economic growth and expected growth for the whole year to be about 9.5 percent.
Real Estate Market Reference Centersource:

Washington Real Estate Investment Trust Announces 195th Consecutive Quarterly Dividend

2010-07-29T18:56:00.000-07:00

ROCKVILLE, Md., Jul 29, 2010 (BUSINESS WIRE) -- WRIT's Board of Trustees announced today a quarterly dividend of $.4325 per share to be paid on September 30, 2010 to shareholders of record on September 14, 2010.

This is WRIT's 195th consecutive quarterly dividend at equal or increasing rates. WRIT dividends have remained equal or increased for 48 consecutive years.

WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 88 properties totaling approximately 11 million square feet of commercial space and 2,540 residential units. These 88 properties consist of 26 office properties, 19 industrial/flex properties, 18 medical office properties, 14 retail centers, 11 multi-family properties and land for development. WRIT shares are publicly traded on the New York Stock Exchange /quotes/comstock/13*!wre/quotes/nls/wre (WRE 30.51, -0.05, -0.16%) .

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants' financial condition, the timing and pricing of lease transactions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, changes in general and local economic and real estate market conditions, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2009 Form 10-K and first quarter 2010 10-Q. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

SOURCE: Washington Real Estate Investment Trust (WRIT)

Real Estate Market Reference Center
source: www.marketwatch.com

Inland Real Estate Corporation Extends Tender/Exchange Offer for Its Outstanding 4.625% Convertible Senior Notes due 2026 and Solicitation of Consent

2010-07-29T10:16:00.000-07:00

OAK BROOK, Ill., Jul 29, 2010 (BUSINESS WIRE) -- Inland Real Estate Corporation /quotes/comstock/13*!irc/quotes/nls/irc (IRC 8.25, -0.01, -0.12%) today announced that it has extended the expiration date for its offer to exchange or purchase any or all of its outstanding 4.625% Convertible Senior Notes due 2026 (the "Old Notes"), of which $125 million aggregate principal amount are outstanding, for a new series of 5.0% Convertible Senior Notes due 2029 (the "New Notes") or cash, or a combination thereof, and the related consent solicitation.

The new expiration date for the offer and consent solicitation is 5:00 p.m., New York City time, on Thursday, August 5, 2010, unless earlier terminated or further extended by the Company. Tendered Old Notes may be withdrawn at any time before 5:00 p.m., New York City time, on the expiration date. In addition, holders may withdraw any tendered Old Notes that are not accepted by the Company for exchange or purchase after the expiration of 40 business days following the commencement of the offer. The completion of the offer and consent solicitation is subject to customary conditions described in the Company's prospectus filed with the Securities and Exchange Commission on June 29, 2010, as supplemented (the "Prospectus"). Subject to applicable law, the Company may in its sole discretion waive conditions applicable to the offer and consent solicitation and may further extend, terminate or amend the offer and consent solicitation.

Based on a preliminary count provided to the Company by the exchange agent, as of 5:00 p.m., New York City time, on July 28, 2010, holders of approximately $45.6 million aggregate principal amount of the Old Notes (or approximately 36.5% of the Old Notes outstanding) had tendered, and not withdrawn, the Old Notes for exchange or purchase and had delivered consents to the proposed amendment to the indenture governing the Old Notes, to amend the default provisions contained therein to mirror those in the indenture governing the New Notes.

This news release is for informational purposes only, and does not constitute an offer to sell the New Notes or the solicitation of an offer to exchange or purchase the Old Notes, nor will there be any sale of the New Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offer and consent solicitation are made only pursuant to the Prospectus.

The full terms of the offer and consent solicitation, including descriptions of the New Notes and the material differences between the New Notes and the Old Notes, and other information relating to the offer and consent solicitation and the Company are contained in the Prospectus, and the related letter of transmittal and consent filed as exhibits to the Schedule TO filed by the Company with the Securities and Exchange Commission on June 29, 2010.

Macquarie Capital (USA) Inc. has been retained to act as the dealer manager in connection with the offer and consent solicitation. The exchange and information agent for the offer and consent solicitation is Global Bondholder Services Corporation. Questions, requests for assistance and requests for additional copies of the Prospectus and transmittal materials governing the offer and consent solicitation may be directed to the dealer manager or information agent at each of their addresses set forth below:

        Macquarie Capital (USA) Inc.      Global Bondholder Services Corporation
          125 West 55th Street                  65 Broadway - Suite 404
        New York, New York 10019               New York, New York 10006
             (212) 231-6594                     Attn: Corporate Actions
                                        Banks and Brokers call: (212) 430-3774
                                               Toll free: (866) 807-2200

Holders of Old Notes should read the Prospectus and related transmittal materials governing the offer and consent solicitation before making a decision to tender all or any portion of their Old Notes for exchange or purchase, or deliver a consent pursuant to the consent solicitation. Holders may obtain these documents free of charge from the exchange and information agent at the address and telephone numbers listed above or from the Securities and Exchange Commission's website at www.sec.gov.

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed publicly traded real estate investment trust that currently owns interests in 141 open-air neighborhood, community, power and lifestyle shopping centers and single tenant properties located primarily in the Midwestern United States, with aggregate leasable space of more than 14 million square feet. Additional information on Inland Real Estate Corporation is available at http://www.inlandrealestate.com.

Certain statements in this press release, including statements related to the terms and timing of the offer and consent solicitation, constitute "forward-looking statements." These forward-looking statements are not historical facts but are the intent, belief or current expectations of the Company's management based on their knowledge and understanding of the business and industry, the economy and other future conditions. These statements are not guarantees of future performance, and investors should not place undue reliance on forward-looking statements. Actual results may differ materially from those expressed or forecasted in the forward-looking statements due to a variety of risks, uncertainties and other factors, including but not limited to the factors disclosed in the Prospectus under "Risk Factors" and incorporated by reference therein to the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, as may be updated or supplemented by the Company's Form 10-Q filings. These factors include, but are not limited to: market and economic challenges experienced by the U.S. economy or real estate industry as a whole, including dislocations and liquidity disruptions in the credit markets; the inability of tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business; competition for real estate assets and tenants; impairment charges; the availability of cash flow from operating activities for distributions and capital expenditures; the Company's ability to refinance maturing debt or to obtain new financing on attractive terms; future increases in interest rates; actions or failures by the Company's joint venture partners, including development partners; and other factors that could affect the Company's ability to qualify as a real estate investment trust. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

SOURCE: Inland Real Estate Corporation

Real Estate News: California’s Building Bust Choking Off Jobs

2010-07-29T09:50:00.000-07:00

29 July, 2010 - House of the Day: Palm Beach Penthouse: The investor who owns this penthouse unit spent more than $1 million finishing and furnishing the duplex, which has ocean views.

Here is a look at real-estate news in today’s WSJ:
Real Estate Market Reference Centersource: blogs.wsj.com

California’s Building Bust Choking Off Jobs: Amid the tepid economic recovery, California’s construction industry continues to hemorrhage jobs, helping to explain why unemployment across the state remains so much worse than elsewhere in the country.

Real Time Economics: Housing, Rental Vacancies Flat From Year Ago: Vacancy rates for both for-sale homes and rental units were flat in the second quarter from a year ago, according to the Census Bureau’s residential vacancies report.

House of the Day: Palm Beach Penthouse: This investor who owns this penthouse unit spent more than $1 million finishing and furnishing the duplex, which features ocean views, marble flooring and a covered patio with Jacuzzi.

New York

Slim Pays $44 Million for Fifth Avenue Home: Carlos Slim, the Mexican billionaire, is extending his reach in New York with the purchase of a century-old Beaux Arts townhouse on Fifth Avenue, paying $44 million.

Singer Daryl Hall Drops Listing Price on Home: Daryl Hall, the singer, musician and songwriter best known as half of the pop duo Hall & Oates, is now offering to sell part of his Dutchess County estate for about half the price he originally sought for the entire property.

Court to Bianca Jagger: Pay Landlords’ Tab: A New York state judge has ruled that Bianca Jagger must pay $708,600 in back rent and other fees to the landlords of a Park Avenue building.

City to Coordinate Bedbug Plan: City agencies are planning to better coordinate their response to bedbugs, include the development of a web portal to educate city residents and teams that will work with property owners to combat infestation.

NY House of the Day: Croton Spash: As the summer heat wave continues, we’re highlighting properties with notable pools. This Westchester home sits on two acres, features a pool with waterfall and is priced under $1 million.

source: blogs.wsj.com

Philippine Real Estate Festival 2010

2010-07-29T09:48:00.000-07:00

July 29, 2010 - There is a growing demand for real estate locally which is expected to sustain the property industry, with developers catering to all socio-economic classes of home buyers.

These developers, together with corporate executives and diplomats from the international community, have agreed to speak and share their knowhow in real estate infrastructure development at the Philippine Real Estate Festival which is set for July 29-31, 2010, at the World Trade Center in Pasay City.

Leaders in the real estate industry will discuss the major challenges that developers face today and how they have been able to turn these challenges into opportunities.

Owning a home is everyone’s dream. Interest rates have remained steady and money continues to come from overseas Filipinos, local businessmen, and foreign investors. At least, a billion pesos in remittances from Filipinos living or working abroad flow in every month, a high percentage of which goes into buying new houses for their families. The Philippines has also emerged a strong second to India in global business outsourcing, an industry needing real property to house their businesses. There has been an inflow of foreign real estate investors as the market in the United States has turned from a buyers’ to a sellers’ market.

For those ready to invest in real estate, the following tips are offered: Make sure your home financing is in place and, in the case of buying real estate for rental, make sure you are able to leverage all of the tax benefits of depreciation and valid expenses. If you are looking to buying a property and making a fast sale and you are confident you can find a buyer, consider a mortgage with a very low interest rate. When you invest in real estate, money is made or lost behind the scenes; as an example, you may have turned a million-peso profit on the sale price after a month, but if you paid the lawyer’s fee, the contractor, and the real estate agent, you may have lost money on your deal.

With the sales activities in the last 12 months, the Philippines is on the crest of a property boom. For those who have the fortitude and patience and are ready to take action, now might be an excellent time to invest in real estate.

We congratulate the participants and organizers of the Philippine Real Estate Festival 2010 and wish them all the best and success in all their endeavors.Real Estate Market Reference Centersource: www.mb.com.ph

Dallas-Fort Worth real estate execs don't expect quick market turnaround

2009-01-29T08:53:00.000-08:00

Real Estate Market Reference Center
source: www.dallasnews.com
Thursday, January 29, 2009
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com

Don't expect any quick deals in Dallas-Fort Worth's stalled real estate market.

Oh, investors are out there, but they are waiting until the right time to strike.

"There has been a huge amount of money lost by getting in too early," Herbert Weitzman, who recently formed an acquisition partnership with Dallas investor Craig Hall, told real estate execs.

Weitzman - who's also CEO of Dallas-based retail broker Weitzman Group - was on a panel of industry veterans who spoke late Wednesday at a meeting of the Society of Industrial and Office Realtors.

"Things are not going to get better very soon," Weitzman warned. "The deals that are going to happen are going to be later in the year.

"There is going to be a huge amount of retail REO [foreclosed property] coming on the market later this year."

Property sales in North Texas have slowed to a trickle because of the lack of credit and worries about the economy.

"We are all hoping there is a lot of pent-up capital on the sidelines that wants to get back into real estate," said Jack Fraker, a top investment broker with CB Richard Ellis.

Fraker said his property sales were off by 65 percent or more in 2008.

At the same time, property values have fallen.

"There is still a disconnect between the sellers and the buyers," he said. "Hopefully that will change later this year.

"Most of the institutional investors have tried to avoid writing down their real estate values," Fraker said. "They can't hide from that for long."

The rents that investors can get from Dallas office buildings are already falling, said CB Richard Ellis' Phil Puckett.

"I see some landlords trying to hang onto what was," Puckett said.

While overall office vacancies in North Texas are at about 20 percent, they won't stay there, he said.

"It's going to go up," Puckett said. "The question is how much space are we going to get back from company closings."

Industrial property brokers are counting on a supply of well-located buildings and competitive pricing to lure tenants from other areas of the country.

"Our mantra this year is Dallas is 'on sale,'" said Tom Pearson with Colliers International. "Companies are going to continue to focus on lower costs."

In 2008, Dallas-Fort Worth led the country both in industrial leasing and new space put on the market, Pearson said.

There will be almost no more warehouse construction in 2008, he said.

"Hopefully that will give us some time to absorb all this new space coming on the market."

The Day the New York Real Estate Market Lost Its Nerve

2009-01-29T08:46:00.000-08:00

source: blogs.wsj.com

January 28, 2009, 10:58 am

Matthew Haines is the founder of PropertyShark.com. He is a guest contributor to the Developments blog with posts on the New York City market. Read his full bio.

Last quarter, sometime around September or October, the residential real estate market in New York City came to a screeching halt. Real estate brokers report that almost from one day to the next buyers simply disappeared from the market. In October and November the number of contracts signed dropped to perhaps as low as 20% of the normal volume. And brokers report that contracts that were signed had prices between 15 and 25% lower than they would have expected for the same apartments six months before.

Suddenly New York has experienced what the rest of the country started 12 to 18 months ago. While prices fell around the country for all of 2008, prices for closed sales in New York City continued to rise even through the end of Q4. (Keep in mind that Q4 closings represent contracts signed in Q2 or Q3.) It’s rare that a fad, fashion or trend starts in a place like Phoenix, sweeps the rest of the country, and only arrives in New York when the rest of the country might well be at the end of it.

Some people point to the collapse of Lehman Brothers on Monday, Sept. 15 as the day when buyers simply disappeared. But we at PropertyShark think it was the downward plunge of the stock market that began at the end of September and continued for the next two weeks.

Normally traffic on our Web site, which features a database of properties in New York City, is predictable. Traffic is strong Monday to Wednesday. Thursday is usually a little lower, and Friday is off 20-25%. Absent external influences, traffic, measured internally in terms of unique logged-on users, is remarkably consistent from week to week. The exceptions are usually easily explained. Traffic drops on holidays. President Barack Obama’s inauguration dropped traffic by a good 20%. There are also seasonal variations. In general February to May has the highest traffic.

The stock market took its first sharp downward turn on Monday, Sept. 29, when the Dow opened at about 11,100 and closed at 10,365. Over the next two weeks it went down, down, down and briefly went below 7,800 on Friday, October 10th.

The first three weeks on the traffic graph (above left) show a normal pattern. From Monday to Thursday traffic is above the reference threshold of 1.0 every day. But beginning Sept 29th, the day the stock market took its first big drop downward, traffic on PropertyShark drops off. In the next three weeks traffic is substantially lower and reaches the reference threshold just three times. From our perspective, Sept.29th is the day when New Yorkers lost their nerve, and it was the collapse of the stock market that did it.

Though January got off to a slow start, as it usually does, this week traffic is back to normal, less than 2% lower than it was in September, before the stock market crash. From our experience at PropertyShark, we see this as a sign that the real estate market will start moving again, even if prices are lower.

Mel Foster celebrates stable real estate market in 2008

2009-01-29T07:58:00.000-08:00

real estate market
By Jennifer DeWitt | Wednesday, January 28, 2009

Amid weak economic conditions nationwide, Mel Foster Co. weathered 2008 with a nearly 16 percent decline in home sales and an increase in commercial real estate sales.

Bonnie Sparks-Gray, the president of Mel Foster Co.’s real estatebrokerage division, described 2008 as “a stable business year” for the Quad-City real estate company. “We’ve grown to realize that housing is local, and the Midwest has maintained a positive market for real estatesales,” she said, adding that the real estate problems plaguing several major metropolitan markets and the coasts did not materialize here.

In reporting year-end sales figures, she said total sales volume reached $682.22 million, which was about 14 percent lower than the prior year. In 2007, the company had total sales volume of $800.046 million.

Residential home sales alone accounted for $589.06 million in sales — down nearly $111 million from $700.42 million in 2007.

“This is close to a 16 percent reduction,” she said of the home sales performance. “But when we talk to brokers around the country, we’re hearing how they are 40-, 50- or 60-percent down.”

Sparks-Gray said the Quad-City market got off to a slow start in 2008 with the bad weather last January and February. “We never were able to make that up in production last year, and as we got toward holiday time, we started hearing about the national economy and that added caution.”

Still, she is proud that Mel Foster maintained a 43 percent market share in its eastern Iowa and western Illinois market. That compares to a 45.5 percent market share in 2007.

“I really look for this year to be more solid by midyear. By late spring or summer, people won’t be nearly as cautious as long as we see a slowdown in the layoffs,” she said of the recent spate of Quad-City job losses.

The company will celebrate last year’s sales accomplishments today as about 400 Mel Foster agents and employees gather for the company’s annual awards ceremony at the Golden Leaf Banquet Center, Davenport.

Even with sales down, Sparks-Gray said there is plenty to celebrate including the annual increase in home values versus the drastic price reductions seen elsewhere in the country. “I credit the product knowledge of our agents and their ability to communicate with our clients so that properties are priced accurately in the market,” she said.

Mel Foster’s average home sale price increased from $133,577 in 2007 to $134,245 in 2008. In addition, the average home was on the market 62 days — the same as in 2007.

Commercial sales increased in 2008 to close at $74.56 million, producing the fourth best year for commercial sales in the company’s history. That compared to $73.33 million in 2007

Other sales activity, including referrals and auctions, added another $18.59 million to the $682.22 million sales volume.

While the number of new construction homes was down for the year, Sparks-Gray said the company controlled more than 51 percent of the sales market — up from nearly 48 percent in 2007. The company closed $105 million in new construction sales in 2008, down from $115.6 million the year before.

The Mel Foster Insurance Division also posted a strong year despite a 7 percent decline in written premium. Premiums totaled $42.56 million. The agency, which contracts with more than 20 major insurance companies, employs 43 agents who sell commercial property, casualty agents, employee benefit, life and personal insurance products.

In the real estate division, Sparks-Gray said the year saw a decline in the number of agents in the business. The company now has 368 agents, or 30 fewer than a year ago. Attributing some of the decline to retirements, she said the current market is causing only the serious agents to stay. “Our agents must be as sophisticated and savvy as our consumers — it’s an expectation.”

She added that the company will be recruiting heavily to return to 2007 staffing levels and may find new prospects among those recently laid off. “They’re looking for work, and in the real estate business an agent can be as successful as they want to be,” she said.

5 Tips for Selling a Vacant Home

2008-03-09T04:32:00.000-07:00

RISMEDIA, April 8, 2008-This spring, as it becomes a popular time for homeowners to begin preparing their homes for sale, Showhomes encourages them to do some essential steps to make sure the most important first step takes place: buyers make the decision to view the home.

“Many people think all they have to do is make sure the inside of their home is clean, but it really goes far beyond that when it comes to making sure your home looks its best so that buyers will take a look,” said Thomas Scott, vice president of Operations for Showhomes Franchise Corporation. “That is why we have released five essential tips that can help local residents stay on the right track when preparing their homes for a sale.”

Scott reveals five tips for selling a vacant home:

1. Curb Appeal - the better the curb appeal of your home is, the more attractive it is to prospective buyers.

- Trim overgrown bushes, weed beds and add a fresh layer of mulch
- Clean your front door and repaint if needed
- Add a fresh doormat
- Keep grass cut, edged and blown
- Plant some color in the beds to add contrast

2. Cleaning - for most buyers, dirt equals stress and the last thing most buyers want is more stress in their lives.

- Pressure-wash the driveway and sidewalks.
- Clean windows inside and out
- Pressure wash decks and patios

3. Paint - the condition and color of the paint can make a huge difference in how buyers react to your home. Select light neutrals - creamy kakis, pearly grays or soft greens.

4. Replace Worn Carpet - Dirty carpet is unsanitary and nobody will be able to overlook your worn carpet. Replace the top layer with inexpensive neutral colored carpet and you will always recoup the investment.

5. Stage your home - Buyers who look at vacant homes only see floors, walls and ceilings. With nothing else to look at, they focus on flaws. Because of this, vacant houses are very vulnerable to low-ball offers and often sell for 15-20 percent below list price.

For more information, please visit www.showhomes.com.

An Easier Way of Doing Business in Real Estate

2008-03-08T04:25:00.000-08:00

By David Bradley

RISMEDIA, April 8, 2008-To Broker/Owner Larry Sanders and the home-buying customers of RE/MAX Platinum in the Houston suburb of Tomball, Texas, Val Tiemann appears to be just another member of the Platinum team who makes the purchase and loan process go smoothly.

However, there is one small difference: Tiemann is a mortgage loan officer with Bank of America, who just happens to have a desk in both of RE/MAX Platinum’s offices.

Sanders wouldn’t have things any other way, because his clients and agents get the type of service that differentiates his company in tough market conditions. RE/MAX Platinum has an Alliance relationship with Bank of America. When firms have these relationships with the bank, Bank of America mortgage loan officers use partner offices as their home base every day.

“Val really takes care of business, and that’s what makes it so great,” says Sanders. “Her instant availability and the help she offers our customers, makes it very easy for us to do business.”

Sanders, who has had an alliance relationship with Bank of America for several years, also credits innovative loan programs-such as No Fee Mortgage PLUS-as differentiators in the mortgage marketplace. He says Bank of America “has all the loan programs that take care of our clients” and he points specifically to No Fee Mortgage PLUS-which has eliminated virtually all typical closing fees as a real value in the marketplace.

“Bank of America has loan programs most other lenders just don’t have,” adds Sanders. “Show me another lender that has a no-fee loan? That’s why we like Bank of America.” No Fee Mortgage PLUS also includes an on-time guarantee that the loan will close in 25 days or less.

The ability to place loan officers directly in real estate offices is a definite plus, according to Sanders. When his agents have questions, they simply walk over to Tiemann’s desk for answers. It eliminates travel and phone time, which gives RE/MAX Platinum customers the best degree of service. Buyers, he says, see Tiemann as part of his team.

Tiemann says her accessibility to agents and their customers is a tremendous advantage.

“The biggest thing is being in the office with the right products and building the relationship with Realtors who see you as another member of the team,” says Tiemann. “It is a competitive advantage in this market because they can concentrate on real estate, knowing Bank of America will get the job done.”

Even if market conditions were great, Sanders doesn’t hesitate to say he would still work closely with Bank of America. “When you have a relationship with the top lender in the U.S., and a great on-site resource like Val, what better team can you have?”

David Bradley is with Consumer Real Estate Communications at Bank of America.

For more information, please visit http://www.bankofamerica.com. Credit and collateral are subject to approval. Terms and conditions apply. Bank of America is an Equal Housing Lender.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Be a Real Estate Expert…on the Economy

2008-02-19T04:15:00.000-08:00

Commentary by Margaret Kelly

RISMEDIA, April 8, 2008-It wasn’t that long ago that being experts on local real estate was enough to propel many great agents to the head of the pack. But these days, that simply isn’t enough. You also have to understand-and be able to explain-broader economic realities.

In the current buyers’ market, you are likely encountering prospective homeowners who won’t budge from their spot on the sidelines. The decline in the U.S. homeownership rate to 67.8%, as recorded in the fourth quarter of 2007, represents the largest annual decline ever seen, according to the U.S. Census Bureau. The homeownership rate, which peaked at 69.2% in the second quarter of 2004, has been edging down ever since.

But the desire to own a home is as strong as ever. The problem is that many would-be buyers want to wait until the market hits bottom. They are waiting for the lowest interest rates to intersect with the lowest home prices. Unfortunately, many will wait too long and jump into the game after the market begins to rebound. The reality is that there are bargains out there for buyers right now.

Your job is to convince them of that-which you can do with the right facts. By keeping pace with analysis and statistics for the nation, your region and local market, you can form a realistic strategy for helping buyers understand today’s market.

Unlike the early 1980s buyers’ market, which was caused primarily by high mortgage rates and crippling unemployment, today’s market is the result of several converging events. Marginal economic growth, questionable lending practices, subprime mortgage shenanigans and tight credit have combined to create the market conditions through which you currently navigate.

But people are still buying homes. According to the National Association of Realtors, existing-home sales are projected to reach 5.4 million in 2008 and around 5.6 million in 2009.

To better understand today’s potential buyers, you might try finding a homeowner or investor-not a flipper-who purchased a house during the early 1980s. See what his or her perspective is looking back on that choice today, and share that viewpoint with your current buyers.

Explain to your clients the risk of trying to time when prices or interest rates will hit rock bottom. With your understanding of market conditions from a long-term perspective-looking forward and back-you can share pertinent knowledge with hesitant buyers. Take charge of your business and see the results quickly.

Margaret Kelly, CRB, is chief executive officer of RE/MAX International.

For more information, visit remax.com.

Home improvement on the cheap

2008-02-18T04:04:00.000-08:00

To save: Try house-parts recycling centers
You pocket: 50% to 75%

Look for house-parts recycling centers in well-heeled zip codes. A growing number of them now stock gently used high-end appliances from the likes of Viking and Sub-Zero.

"When a multimillionaire buys a house, he or she redoes the kitchen, and that usually means replacing the perfectly good appliances that the previous owner installed just a few years earlier," says Steve Feldman, president of the nonprofit salvager Green Demolitions.

He has hundreds of ranges, cooktops, wine fridges, vent hoods, and warming drawers that have been donated by homeowners or dealers. Donors get a tax write-off, and you get a deep discount on the resale.

Just keep in mind that these appliances come without warranties, so have them checked out--and possibly tuned up--by a repair pro. Still, if you're getting a nearly new Viking range for thousands less than retail, you'll come out way ahead.

By Josh Garskof, This Old House Magazine

100 best places to live and launch

2008-02-16T03:58:00.000-08:00

1. Bellevue, Wash.

1 of 100
Population: 111,608
Pros: Talented workforce, growing downtown
Cons: Pricey homes, high cost of living

Like many of the places on our list, Bellevue is a city in transition: no longer a bedroom community, but not yet a crowded, expensive metropolitan hub. Bellevue has grown with unusual grace in recent years. Huge corporations exist symbiotically with startups, a booming downtown abuts healthy residential neighborhoods, and the rising skyline is tempered by an abundance of parks, as well as lakeside and mountain views. Flash retailers such as Neiman Marcus draw regional shoppers, but Bellevue's excellent healthcare and schools are key attractions for relocating families.

While local businesses must pay the statewide Business and Occupations tax on their gross receipts, there's no corporate income tax. Businesses with less than $135,000 in taxable revenues (the highest threshold in the area) don't have to pay the B&O tax. Easy airport access and a highly skilled workforce make Bellevue an attractive option for startups looking to break big. -Mina Kimes

Source:

Foreclosure crisis fix faces murky future

2008-02-15T03:42:00.000-08:00

By Jeanne Sahadi, CNNMoney.com senior writer
April 8, 2008:

NEW YORK (CNNMoney.com) -- The Senate on Tuesday is expected to pass a package of housing measures intended to stabilize the housing market.

But that bill - crafted in 24 hours of bipartisan negotiation last week - faces an uncertain fate as the House gets ready to have its say on how best to address the nation's foreclosure crisis.

The House is expected to craft its own bill and not simply follow the Senate's lead. In addition, House leaders have indicated they might also pursue proposals to address other problems in the economy - a move that could complicate speedy approval of any foreclosure provisions.

"This is not a quick, easy conversation to have," said Clint Stretch, managing principal of tax policy at Deloitte Tax.

But the pressure is on for lawmakers to act swiftly to prevent a substantial number of foreclosures. Nationwide, 1.5 million subprime adjustable-rate mortgages will reset to higher interest rates this year, putting many of those homeowners at risk of falling behind on their payments and losing their homes.

Critics of the Senate package say the measures do more for businesses and lenders than they do for homeowners at risk of foreclosure. If House leaders have their way, the House bill will contain measures more targeted to keep troubled borrowers in their homes.

The House's efforts on housing have so far been led by Financial Services Chairman Barney Frank, D-Mass. Frank is scheduled to start two days of hearings on Wednesday to debate his proposal to let the Federal Housing Administration (FHA) insure $300 billion in troubled loans if lenders voluntarily write them down to at least 85% of the homes' appraised value.

Some political observers say that the FHA proposal may be the centerpiece of the House bill. But the Senate chose to exclude in its housing package a similar proposal from Senate Banking Chairman Chris Dodd, D-Conn.

Meanwhile, Charles Rangel, D-N.Y., the chairman of the powerful House Ways and Means Committee, will on Tuesday propose the Housing Assistance Tax Act. That bill is expected to offer measures that directly benefit homebuyers and homeowners and may also include an expansion of the low-income housing tax credit.

Stimulus 2.0 on tap?

Looking beyond the mortgage crisis, House Speaker Nancy Pelosi, D-Calif., and other House leaders will seek to put together an economic stimulus bill that is expected to contain measures that were cut from the first stimulus bill passed in February.

They are likely to call for an extension of unemployment benefits, an increase in food stamp payments and more funding for infrastructure repair. Whether such measures would be included in a housing package or passed separately isn't clear yet.

Congressional leaders are scheduled to meet with President Bush on Wednesday.

"We will urge him to focus on the economy and work in a bipartisan manner on a new stimulus package to help America's working families. We must work together to restore consumer, market, and worker confidence," Pelosi and Rangel said in a joint statement Monday.

The president, meanwhile, will likely urge Congress to let the first stimulus package take effect before deciding what to do next. Taxpayer rebates, the centerpiece of that legislation, will start going out in May.

"My only advice to [Congress] is, one, make sure you give the pro-growth package that was passed overwhelmingly a chance to work, see what the effects are," Bush said Monday.

Source:

Market Conditions: Phoenix, Arizona

2008-02-14T03:38:00.000-08:00

April 8, 2008

Bob Stahl reports that the sales volume in the Greater Phoenix area resale market improved in February, with 3,700 recorded sales compared to 3,300 in January.
FREE 2008 Agent Business Plan

January and February are traditionally slower months for home buying, he says, but these early signs of improvement in the market could portend strong sales numbers in March and April.

The number of homes sold has increased in every major city in the valley, and Stahl says that as this market sheds excess inventory it could be moving towards a strong turnaround.

And in addition to that, the median home price for the Greater Phoenix area is still 10 percent higher than it was just three years ago, making this area a great place for investment.

Mesa remains a particularly good place for homebuyers, as median home values for the area continue to stay flat.

How To Finance Property Development The Easy Way

2008-02-13T07:06:00.000-08:00

Author: Sean Horton

The easiest way to learn how to finance property development is to go online with a specialist website. A website such as this will offer all the information needed for you to understand what you are taking on and how to get the best deal. By choosing to go with a broker when it comes to taking out borrowing you can save time and money even with the fees that you will have to pay.

Property development finance can be taken out as commercial or residential loans depending on the project. Each will be based on the individual's circumstances which will determine how much you will pay when it comes to the interest rates. Interest rates will usually fall between 1.5% and 2.5% above the base rate which is set out by the Bank of England. Factors which are taken into account when setting the rate will include the experience one has when it comes to property development. They will also be based on the industry sector at the time and the proposal you are putting forward for the loan.

A broker will be able to explain and work out a proposal with you which includes the valuation of the property you are interested in. Lenders will be able to work quicker if a broker has helped to set out the proposal and it has been validated. This will also get the project off to the best start possible and make things go more smoothly. Learning how to finance property development is not the easiest of things to understand and it is essential you take all the advice you possibly can.

When it comes to amount a lender will allow you to borrow then this will be based on the loan to project costs. These are influenced by the gross property development values which are projected. However you can expect around 70% to 75% of the price of purchase and the costs of building. Some lenders are prepared to give 100% funding but you will have to meet certain criteria and have an excellent track record in property development.

Usually the amount you will need to borrow will be in the region of hundreds of thousands of pounds and due to this lenders offer an interest only loan. What this means is that you will borrow the amount and then pay only the interest which this accumulates over the term of the loan. However the capitol will have to be repaid in full once the loan had come to full term. The lender will usually ask for proof that you have the means of paying this before signing off the loan. You can take a repayment loan but the repayments will be significantly higher than those of an interest only loan. However the advantage to this is that you will pay off the total of the loan over the term you take it out for. Each repayment will take a little off the interest and the capital.

These are just some of the reasons why it imperative to get all the help you possibly can when it comes to learning how to finance property development the easy way. Other factors which you have to consider include choosing between a fixed and variable rate of interest and making sure additional costs have not been included in the cost of the borrowing.

Article Tags: Mortgage Advice

Article Source: http://www.articlesbase.com/f

The Residential Real Estate Selling Process in Austin Texas

2008-01-21T06:47:00.000-08:00

Author: Joe Cline - Austin Real Estate Broker

Decide to Sell
Deciding to sell your home is a big decision. The first step in this process should be to understand your motivations, expectations, financial considerations, goals and what you plan to do upon the sale of your home. Many people begin the sale process with unrealistic expectations or unclear goals. It then becomes difficult to meet their goals because these goals have never been clearly defined. You must begin to view your house, no longer as your home, but as an investment property that you want to market.

Setting the Price
Of course one of your most difficult questions is the listing price of your house. What price should you ask? This is an important part of the sales process. If you set the asking price too high, you may scare away buyers. Agents who feel that your house would not be a good investment may not even show the house. After the house sits on the market for a while, people begin to feel that there is something wrong with it because it hasn't sold. Even if you could sell your house for an inflated price, many times a lender won't approve a loan on a house that doesn't appraise for that amount and the sale might fall through at the last minute. If you under price the home, you won't realize the maximum potential of your investment.

Marketing Plan
Decide on incentives that to be offered to buyers, determine the best places to advertise, and determine how to show the home. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles.

Prepare the Home for Showing
There are two important ways that you can have an impact in making your house attractive to buyers: property condition and listing price. After deciding on a listing price, setup an appointment with a decorating company. They will give you some suggestions for making your house look its best. This process is called "staging." The suggestions might be simple such as clearing cluttered counter tops. Or they might be more involved such as painting front doors or repairing obvious defects.
The staging company will look at your house from room to room and will offer advice on how to make each room show great. They will also look at the exterior street appeal, backyard and garage. They have a lot of tips that can make your house shine. After this meeting, you will have a list of what you should do to prepare your house for sale. Following these suggestions in a timely manner will ensure your home shows at its best.

Remember that "staging" addresses the appearance of the house and not necessarily other problems, which might become evident during an inspection. An inspection will uncover most defects that eventually may have to be repaired. In this way you can have the repairs done before a potential buyer's inspection uncovers a defect that might cause a buyer to either change his mind or to want a substantial repair allowance deducted from the price. It is a signal to buyers that you are a responsible, reputable seller. It also allows you to have plenty of time to schedule any work that might need to be done.

Offer a residential service contract to buyers. This guarantees the major appliances in your home as well as other systems and structures. You can also include coverage for your house while it is on the market so you don't have to pay for any unexpected repairs.

Marketing the Home
Now the fun begins. Here are some ideas that can be used to promote your home.

It is important for you to keep your house in perfect condition everyday because buyers or agents might come by at any time. Keep the kitchen clean, make your bed every morning and keep clutter out of sight. It is especially important to keep pets and pet odors under control. Some wonderful added touches are fresh flowers and potpourri or freshly baked cookies.
As agents and potential buyers begin visiting your home either virtually on the Internet or in person, try to obtain feedback from the buyers. Make changes to the showing state, condition, and price as feedback deems necessary.

The Offer and Negotiation
You have an offer, now what? Sometimes the buyer will offer you the asking price and have no special requests. In this case, you sign that you accept the offer. Sometimes, the buyer's offer is a lower price and might have other requests. You should consider what is best for you and make a counter offer. Consider carefully your response because if you counter offer, there is no guarantee that the buyer will respond again. Also remember that, once agreed upon and signed by all parties, an offer becomes a legally binding contract. Never get involved in oral offers and negotiation. If you verbally accept an offer, a buyer has no legal obligation to buy the house and may want to continue to bargain with you to see how low a price you will accept.
No matter how well you have prepared your house and how fairly you have priced it, there is always the possibility of receiving a low offer. It could be a limit to the buyer's ability to purchase. Don't take it personally and react angrily. This is business, it's not personal. You can either reject the offer or make a counter-offer. Try to find out as much as you can as to why the offer was low. Certainly if other offers come in very low or if your home is not being shown or not receiving any offers consider adjusting the pricing.

Once the buyer and seller agree on the terms, the buyer will have the home inspected. If there are any problems that are found during this time period then the buyer can withdraw from the contract. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, try not to let contract fall through. After the limited time period is up, the buyer is legally bound to buy your house unless they are denied financing. In the event of cancellation, the buyer would lose any earnest money. One exception to this is in the case of the buyer not receiving funding from the lenders. In that case then the buyer is not held responsible. For this reason, always ask the buyer's agent for a letter showing that the potential buyer has been prequalified for a loan and, once a contract is signed, ask the buyer's agent to keep you informed of the buyer's loan application progress.

Closing
The exciting day is finally here! Verify in advance that all of the paperwork is in order. Request a copy of the HUD1 statement sheet so that you can read over it before closing. Feel free to ask any questions either before the closing or during the closing itself. Typically this is when you relinquish possession of the house so take the keys to give to the new owner.

Article Tags: Real Estate, Austin, Texas, Selling Real Estate In Austin Texas, Selling Process

Article Source: http://www.articlesbase.com/

Real Estate Professionals in California

2008-01-18T06:40:00.000-08:00

Author: Richard Brazil

California real estate is the most sought after and expensive real estate in the United States. It has a wide variety of diverse properties, from condos to vacation homes to single-family residences to apartments. Therefore, while searching home or commercial property in California, having real estate professionals by your side will make your search easier.

Generally, real estate professionals in CA include real estate agents, realtors, mortgage broker, and mortgage lender. Buyers and sellers more often need them at the time of buying or selling.

1. Real Estate Agents
A Real estate agent is either a person or an organization whose business is to market real estate on behalf of clients. There are buyer’s agent, seller’s agent and dual agents who work for both seller and buyer. Their main function is to look for suitable houses, negotiate price and terms on behalf of both, and prepare a standard purchase or selling contract.

2. Realtors
They work with their customers to define their needs and identify suitable alternatives. They are the total real estate solution providers starting with identifying the property to closing the deal.

3. Mortgage Broker
These professionals have specialized in the entire loan processes and help their customers in getting the best loan to fit their needs. They are either companies or individuals who work closely with mortgage lenders to provide a wide variety of loan schemes to their customers. They act as a mediator between mortgage lender and customer. They are ready to assist you with your lending needs. They will help you through the process and requirements-from home inspection to insurance.

4. Mortgage Lender
They are the companies who actually finance the loan to the customers through the brokers. In the past, lenders were almost banks and saving& loan associations. Due to their limited options in lending, many different types of lenders have joined in this field. Today, most mortgage bankers act as wholesale lenders. They offer loans at a lower rate of interest than banks. Mortgage brokers deal with these lending institutions that have wholesale loan department for their customers.

Hence, it is a team work of all agents, realtors, brokers and lenders to provide better service to their customers. By effectively using their own resources, they can co-ordinate with

Article Tags: Realtors, Real Estate Agents, Commercial Property, Real Estate Professionals In California, California Real Estate Professional, Mortage Broker, Mortage Lender

Article Source: http://www.articlesbase.com

What Are Equity Skimming Scams?

2008-01-17T06:30:00.000-08:00

Author: Eric Mabo

Equity stripping is also called equity skimming and some people will term it foreclosure rescue scam, which is when low-income earners face foreclosure. It was late 1999 that some equity scammers took the properties of low-income earners, such as their homes. It happens so because, they took loans and never pay in time or did not fulfill the conditions of the loan. At times some money lenders lend out their money at a very high interest rate. So, these homeowners are made to even rent their own homes form these money lenders as tenants. This equity stripping scam issue usually happens to low-income earners who own a home. This equity stripping scam issue usually happens when the low-income homeowner has entered a complex transaction with a money lender; the homeowner will be unaware that he or she is selling the property. Some few years back, most states in the United State have looked for a means to fight against all these unscrupulous money lenders.

Many people may look at equity stripping as a means of lending money to people and taking excessive money as charges. That is, removing the homeowner out of the home if the charges are not paid. This practice often shows foreclosure.

Trends have been made in the United States economy to open a market so that foreclosure, equity stripping scam is legal. This has made the values of properties to increase between 2000-2005. As the values have increased, the rate of foreclosure in 2001 has risen leaving the many foreclosed low-income earners with equity.

Homeowners may notice that they have fallen into foreclosure, when they find their names on newspapers or reported by a mail distribution service.

Solicitation can take place, when a homeowner has been foreclosed. That is some other person may still meet the foreclosed homeowner for another deal, if he or she is qualify to take a different loan for a commission to be paid to this person who is making the arrangement . When a home has been foreclosed, an investor can still come and pay the amount owed by the homeowner and acquire the home. The investor may still will back the home to the homeowner under a different condition (lease or contract deed). The homeowner then remains in the house and pays rents. But, there are laws in most of the states today that protects equity stripping scam, which was passed into law since 2005. At times, this foreclosure stuff may be beneficial, when the charges of the loan are low. The foreclosure stuff can be beneficial to the homeowner, when here arranges and still stay in the house as a tenant, but later on you can still repair your credit and own the home again.

Home owners facing foreclosure should be very careful about who they talk to as there are many scammers out there only interested in taking away their homes. There are many government run agencies in every state where the home owner can turn to. One of the most important things is for the home owner to talk to their lender.

Article Source: http://www.articlesbase.com/

How Are Property Taxes Determined?

2008-01-16T06:25:00.000-08:00

Author: Eric Mabo

Those who own properties pay taxes for their properties every year. The tax rates are always determined by the local governments of your area in which you live and depending on the needs of the municipality. Sometimes, the rates of these taxes are assessed using the mill levy. At times, one mill is equivalent to one US dollar of the property assessed.

To determine the estimated amount that one has to pay for his or her property, you need to ask the value of appraisal of the property you ant to determine the tax. When you multiply the appraised value by 11or 11.5 percent for homes or properties that belongs to you and commercial/industrial properties you multiply it by 24 or 25 percent depending on what the local government of you municipality has decided. So, if you look carefully, you will discover that people pay property tax depending on the area in which they are and the budget of that locality. E.g. those living in Georgia will not pay the same tax as those in New York .

If you own any property, take not that only two things can determine the amount of tax you have to pay for that property. That is, the tax rate given by the government of that locality and the value of your property also counts.

The kind of property to be assessed that is the real property may be looked upon as land or any permanent structure. For example, we can consider vacant land, buildings that occupies offices, houses, farm lands etc. Not all real properties are taxable, properties such as properties owned by the government of that locality or any religious properties.

The assessment of a property is usually based on the value that the property will sell. And this assessment is done by assessors who are appointed or elected by the local government of that locality. Take note that, if your assessment value is equal to the selling price of you property, then know that your assessment has failed.

For a tax rate to be final, it must be divided to the different municipalities. An apportionment may occur if you are having you property in two different cites or towns.

Your property tax increases when, the budget of the local government in that locality has been increased or when the value of assessment has also been increased.

If your business is in a historic building or the building is of great importance, this may case you to pay low or high property tax to the local government of your area. Some governments will tax businesses in historic buildings to pay high property tax, while others will not demand high.

The issue of property tax has made many business people not to increase their properties because, there are afraid their property tax will be increased. But, for the case where you are a homeowner and like to improve on your house, the property tax will not be increased. So homeowners can improve on their homes without paying more property tax.

Article Source: http://www.articlesbase.com

Quality Real Estate Scarce in Chandigarh

2008-01-15T06:22:00.000-08:00

Author: George Gonigal

Good-quality real estate in Chandigarh is becoming a scarce commodity in the sectors that have good infrastructure. There is virtually no piece of land free in premium sectors like Sector 5, Sector 7, Sector 21 and Madhya Marg. These sectors host important government offices, central business districts and premium residential and commercial properties. Most of the land there has already been utilized for constructions and other real estate development. Residential property here costs about Rs 3,200 to Rs 4,500 per sq ft. Rents are as high as Rs 10,000-12,000 for a 3 BHK (1,350 sq ft area flat) and this is comparable to some areas of Delhi and Gurgaon.

After Chandigarh, it is becoming exceedingly difficult to find freehold land in Mohali and Panchkula. Near by areas like Zirakpur, Baltana, Dhakoli, Dera Bassi and Mani Majra are much in demand now. The prices of land here are almost half of that in Delhi and thus people are flocking to these new and upcoming areas, despite poor infrastructure and lack of maintenance. Investors are laying huge bets on these areas. They are putting their money in upcoming projects and constructions and foresee good returns in the coming times.

Chandigarh-based property broker, Manav Singla says that people are now buying property in Chandigarh sub-urban areas not for residential purposes but for investment purposes. This attitude reflects a sea-change in the mentality of users. People now want to buy flats and plots that can be sub-let, leased or remodeled into paying guest accommodations, hotels, hostels, retails outlets.

Singla estimates that middle-class and lower middle class users will flock to these areas. Hence he suggests that if one can spare amount between Rs 21–30 lakh, he should buy a 3-BHK here. The 1,350 sq ft flat will assure handsome returns in near future. These market activities indicate that the upcoming real estate destinations around Chandigarh are now becoming the investment zone.

For more details on Chandigarh Real Estate, log on to magicbricks.com

Article Tags: Real Estate, Property, Buy, Properties, Sell, Chandigarh

Article Source: http://www.articlesbase.com/

Get Recognized With Real Estate Accounting

2008-01-14T06:13:00.000-08:00

Author: Alvis Brazma

With involvement of major construction companies in the global real estate industry, real estate market is expending with a faster pace. In fact, at present real estate industry is one of the biggest industries of global market; however, few years back things ware not so simple for real estate business owners, as this industry was itself striving to make its position. Present real estate industry is not only running a full-fledged business but also inviting sapling real estate businesses to join its widespread market. Every year n numbers of small real estate businesses are entering into that challenging world of construction and sale of housing property; however, very few of them are getting the desired level of success. There can be many reasons behind their failure such as, unavailability of necessary resources, inappropriate usage of available resources and improper management of accounting data. Undoubtedly, real estate accounting is one of the most complicated business tasks, as it includes, a wide range of rapid transactions. Accounting for this industry is such a task that requires accuracy and extra attention of the person who is performing it therefore, real estate business owner must be extra vigilant about accuracy and proper management of his or her accounting data.

For sapling business owners of this industry, it is must to understand the importance of perfectly managed accounting system, as growth of their business depends on how they use their financial and accounting resources. Since real estate accounting is more complex than accounting for any other industry, a real estate business owner must check out the efficiency level of his or her accounting staff. In fact, a slight mistake can cause big loss to that business and can also restrict its growth. Business owners, who do not get proper time to check out every aspect of their accounting system, can also hire professionals of an real estate accounting firm, as it will allow them to manage their valuable accounting data perfectly.

It is quite true that real estate industry is likely to have unexpected changes therefore, all real estate business owners need to be more observant, so that their businesses may easily become accustomed to these changes. In fact, these changes bring a lot of financial complications with them hence affected businesses must have proper accounting management systems to simplify these complexities. In such circumstances managing every aspect of real estate accounting can be a tough task; however, this task can be made simpler by analyzing previous data to make new strategies.

Whether you hire professionals from an outsider firm or manage it within your organization, always make sure that your accounting data is perfectly reflecting the position of your organization or not. In fact, financial statements of your organization can also help in improving your position in the market therefore always pay extra attention to preciseness and accuracy of every final statement. If at any point of time you feel that your business is consuming more financial resources than your expectations, then you can take help of a real estate accounting advisor to know the perfect position of cash flow for your business.

Article Tags: Accounting Outsourcing, Small Business Accounting, Real Estate Accounting, Bookkeeping Help, Accounting Help

Article Source: http://www.articlesbase.com/

Arizona Real Estate Listings and Phoenix Real Estate Listings

2008-01-13T08:27:00.000-08:00

Author: Adam Morien

There’s simply no denying the sheer popularity of the greater Phoenix, Arizona area. Phoenix real estate listings are widely popular and sought after by virtually thousands of people from around the country on a daily basis. Other Arizona real estate listings are garnering much traffic as well, and there really is no surprise as to why. Though Arizona was only the 48th state admitted to the Union, the state has experienced much growth and has seemingly made Phoenix the 5th largest city in the nation. Currently the 13th largest Metropolitan Statistical Area in the United States, Phoenix, Arizona is also the most populous city in Arizona as well as the state capital. But the city and state have much more to offer than sheer numbers.

Of all the growing locations in the southwest, Arizona offers some of the most appealing and sought after real estate in the United States. The year-round warm climate brings many outdoor activities and opportunities for patrons to enjoy rest and relaxation. Arizona real estate listings present numerous opportunities for interested visitors to make the state a more permanent vacation. Phoenix itself is a thriving metropolitan city and its economy continues to grow and flourish. The city has much to offer, including Luke Air Force Base and nationally renowned golf destinations. A lot of patrons find themselves in Phoenix to enjoy the dry climate and warm weather while other make an attempt to capture a glimmer of the old west. Lots of outdoor enthusiasts simply flock to enjoy breathtaking landscapes at any one of the surrounding state parks, including Camelback Mountain and Papago Park. Sports fans can also get their fill and take in any one of the major sporting events with professional teams like the Phoenix Suns, Arizona Diamondbacks and Arizona Cardinals. If relaxation is on your mind, the greater Phoenix area is home to some of the most accommodating spas and resorts found anywhere on the planet.

With so much to offer, it really is no surprise that so many individuals find themselves browsing through Phoenix real estate listings in search of their ideal setting. And not just Phoenix – Arizona real estate listings have become widely popular as well. From world-class golf opportunities to luxurious spas and vibrant nightlife, this southwestern gem definitely has much to offer. No matter what the allure might be, Arizona is truly a perfect location for seemingly anyone to call home.

Tags: Phoenix Real Estate Listings, Arizona Real Estate Listings

Article Source: http://www.articlesbase.com/

Why Buying Real Estate in Baja California Is Such a Good Idea

2008-01-12T08:30:00.000-08:00

By: Mikhail Tuknov

For many years now, Baja California has been known as a party and vacation spot for many people all over the world. From couples seeking an intimate getaway to college students looking for a place to get in some much needed partying over spring break, Baja California presents an ideal destination where you can go to leave the worries of the real world behind.

What a growing number of people are realizing however is that aside from providing a temporary haven for rest and recreation, Baja California can in fact be a place where you can spend considerably longer periods of time in and perhaps even live out your retirement years. And why not, after all? In addition to the many stunning natural features of the area, there is a wealth of both personal and business opportunities to be had for the few souls brave enough to make the move. If you need any more convincing there is the world famous warmth and friendliness of the local residents, the excellent standard of living–particularly if you measure your income in dollars–and the near perfect weather all year round. And let’s not forget that Baja California is only 30 to 40 minutes from the U.S. border. In fact Baja California is probably the only place in the world where beachfront property and near-perfect southern Californian weather can still be had in abundance.

By all indications, the real estate market in the U.S. has all but dried up. Investors are now looking for the next big thing and many experts agree that Baja California is it. As you read this article, a number of factors are coming together, the combined effects of which will ultimately result in the next big property boom occurring in this area. For one thing, the Mexican government has implemented a number of changes in the country’s real estate laws that now make it legal for foreigners to purchase property in Mexico–even in areas that were formerly off limits to foreign buyers. By securing a bank trust or a Fideicomiso, the process of buying land in Baja California–or most any other place in Mexico for that matter–is now simpler and safer than ever.

Even U.S. banks and lending institutions are getting in on the act, with many lenders now offering mortgage financing as well as title insurance for foreign-owned property in Mexico.

Finally, your dollars can be stretched a lot further in Baja California. You probably know by now how hard it is to find available beachfront property in Southern California. Well, not only is it available in Baja California, but the prices are up to 4 or 5 times cheaper than similar property in the U.S. That in itself is a good enough reason to buy but when you realize that current property appreciation is measured at 30%, it almost makes no sense not to buy!

Clearly the market in Baja California real estate is on the rise. The time to act is now if you want to get some of the action!

Source: http://www.ArticleBiz.com

Free Real Estate Lead - Potentially Lucrative and Always Risk Free

2008-01-11T08:24:00.000-08:00

Author: lanard perry

Want to generate free real estate leads? No, I'm not kidding, although I know that it sounds impossible enough to be a joke. But I'm as serious as heart attack.

Many agents and firms started out utilizing free lead generation strategies - ones that are cost-effective, yet virally effective and risk-free. Many still use them to this day.

One way to find them is to search for online agencies that offer free leads, but "free" may not really be free.

For example, some online agencies require you to pay a few dollars as sign up fees for their leads. But in general you can utilize their services to generate potential leads and have a few buyers contact you from time to time.

Another lead generation idea is to write and distribute real estate articles. which is easy to do and becoming a popular and affordable method of generating leads, creating a brand and generating sales.

Article distributions is literally as writing an article, submitting it to online article directories, then letting the Internet work its magic. Good articles will get distributed far and wide over the Internet and generate leads over and over again - sometimes well beyond several years after you submit them for distribution.

A third lead generation idea is to cultivate a Real Estate Referral System, which is done by generating leads by word of mouth, via recommendations and through referrals and good rapport.

A vibrant referral system is earned through dedication to your customers...and your perceived trustworthiness. If you lie, deceive and/or mislead them they'll abandon you, but if you treat them honestly and look out for their best interests they'll become repeat customers who will in turn refer their friends and relatives to you.

Finally, a fourth way to generate leads is to pursue Expired Listing Leads. With this strategy you offer to relist properties of owners of expired listings, which occur everyday all across the country. Expired listings can be an unending source of free to low cost leads.

But free does not mean without effort. Still, working expired listings is not hard, but having a good system and a commitment to succeed is helpful.

Summarily, creating close ties with your network of family and friends can help you connect to people in a way that will have them considering you when they need a realtor. The rest is up to you.

Build upon that rapport to increase the chance of generating leads and expanding your network base. The power of word of mouth alone will allow you to get more people in your network.

Then, let your network work for you in terms of people in it introducing their networks to your business. From there you can establish a rapport with newfound prospects based on similar interests.

In the end your network will be one of your biggest assets in generating free business leads.

Finally, make use of these powerful lead generating ideas and watch your business soar. There's no secret to generating positive leads, just pure people relationships based on trust and sincerity.

Tags: Real Estate Marketing, Real Estate Leads, Free Real Estate Lead

Article Source: http://www.articlesbase.com/r

Prevent Foreclosure: Want To Know How To Stop A Home Foreclosure?

2008-01-10T08:20:00.000-08:00

Author: Thomas Bladecki

Would you like to know how you could stop a home foreclosure? The best answer is to take immediate action. Many people overlook the best solution, and ignore the lenders, this is not the good solution, the lenders will continue to pursue it until either they sell the home at auction or take the home back them.

Stopping a home foreclosure can be a bit intimidating, but do not try to run from it, remember that the banks do not want the property back, they are in the business of lending, not property management.

Homeowners that are facing foreclosure are either in a financial bind, or some other hardship, their intention was not to get in to this position, but this does not mean that they cannot recover from it, or stop the foreclosure process.

Once the owners take control of their lives and stop ignoring the issues at hand, contacting the lender is the first step in getting back on track. It is not easy to stop the foreclosure process; it will require some work, but do not give up on it. Most banks will work with the homeowner by attempting to resolve the default without going through the legal process, especially with the high rate of foreclosures in today's market.

If you are looking to stop a foreclosure, chances are very good that you have already received the "Notice of Default"; this is the lenders legal way of informing you that you are potentially facing a foreclosure on your home. Depending on the state, you live in and the laws regarding foreclosures, you will have some time to take action. Whatever you do, ignoring the notice is the last thing that you want to do. This is not just a warning or a collection letter from the lender, this is the beginning of a legal home foreclosure and ignoring the notice is a guarantee that the lender will win. Working it out with the lender is the only way in which you can stop to foreclosure.

Talk to the loss prevention, or sometimes called the loss mitigation department. This department handles foreclosures, and can get you on a work out plan. Lenders not like to deal with foreclosures, however if you leave them no choice, be assured that they will if given no other option.

The lender may be willing to setup a workout plan, or payment plan for the amount in default and to keep the loan current, in this case, you should take action if you are able too. They will require certain financial and personal information in order to modify the loan agreement. Providing this information accurately and timely, will ensure a timely result from the lender, and will prevent the lender from pursuing further action on the foreclosure.

Selling your home is another option, if you are not in a position to agree with the lenders recommendations, or you will not be able to make the payments as promised, your best option may be to sell your home. Selling your home is one way that you are in control of the unfortunate situation.
Taking action is the best way to start, and you can look on the internet for a great deal of information regarding foreclosures and companies that can offer assistance. Make sure to act fast as time is already against you if you have received a "Notice of Default."

Stopping or preventing a home foreclosure is entirely up to the homeowner, if you are willing to work with the lender, provide the required information, and come to an agreement, you may stop the foreclosures on your home. On the other hand, if you are not willing to talk to them or ignore their phone calls and letters, then make sure that you have your personal belongings packed and ready to go when they foreclosure on our home.

Source: http://www.articlesbase.com/

Investing in Sacramento Real Estate

2008-01-10T08:14:00.000-08:00

Author: Kris Koonar

Some of the most valuable hot properties in USA are in California and if speakers from the market are to be believed, then Sacramento in California is supposedly the hottest real estate market in the whole of the United States seconded only by Las Vegas. So, whether you are a beginner or a pro in real estate investment you can make money by investing in the US's most beautiful and yet affordable properties in this area.

California has a lot of wonderful places to be envied and awed like Disneyland, Hollywood, mountains, beaches, bay, deserts, Redwood, Yosemite, Silicon Valley, Los Angeles, San Francisco, Santa Barbara and more. Another prized possession of California is Sacramento, which is the literal heart of California. Hidden in the shadow of so many great attractions of a golden state, it stands out as a little river city that is so modest and regal, vibrant and spectacular- all at the same time.

There are many reasons as to why should one invest in real estate in Sacramento. To begin with, it is perfectly located in California, at a two-hour drive from many of the greatest attractions of the world. Secondly, the greater Sacramento region is divided in to 7 counties namely Sacramento County, Placer County, El Dorado County, Sutter County, Yuba County, Nevada County and Yolo County, each of which is said to have a superb location and they also flaunt inhabitants with a rich lifestyle. Also each county is growing at its own pace holding terrific opportunities for investment in both commercial and residential sectors.

The great culture of the city, which is laid back and yet vibrant, combined with affordable housing, makes it hot in the real estate market. Being the state capital, the support structure for a favorable job market is very strong. Again, there are many high-tech corporations here and other corporations and one can afford to have more space for warehouses and manufacturing units as compared to other locations in the state.

Transportation facility is very strong in Sacramento. Along with North/South and East/West transportation there are also large rail carriers and major freight carriers present there. Presence of good schools and universities makes it a hot spot for real estate investment. The city also boasts of being the agricultural hub of California.

The province has seen growth from all quarters. Limited by the Sierra hills, the eastern region has limited but strong development potential. The west, which was initially dormant and overshadowed by industrial parks, also has grown. Biggest growth of South Sacramento has come with Elk Grove being limited only by the delta. North Sacramento is a huge area and is still developing giving a lot of opportunities to the real estate investors.

The average value of property is appreciating at around 17%, which is well above 20% for many. This gives a favorable position to the investor to profit from buying and holding property. He can also fix and flip for the first-time home buyer. There is a lot of empty land left here which is which is being swooped by the developers making it all the more lucrative for investment in real estate. Real Estate in the entire US has risen as people have pulled out their money to invest in more lucrative options and Sacramento stands out as one of the most viable option.

Tags: Real Estate Investing, Sacramento Investing

Article Source: http://www.articlesbase.com

Should You Buy Property In 2008?

2008-01-09T04:56:00.000-08:00

Author: P Green

There's been a lot of talk and media speculation over the last few months about what might happen to the property market next year.

With New Year's Day just a few hours away, this is a great time to take stock and assess the likely movements in the market in 2008, especially if you want to sell or buy property.

An investment company called Assetz has recently studied the market and made a series of predictions for the next 12 months.

The company is likely to know what it is talking about. Its website says it is made up of a number of well known and successful property investment advisors. They offer services to private investors who want to buy property, both here and abroad.

The first issue the company has looked at - and the one that most people are likely to be very interested in - is whether or not house prices are going to go up or down in 2008.

Research by Assetz showed that average house price growth from December 2006 to December 2007 was 8.1%.

The most recent monthly data was more volatile, making the company believe growth is currently somewhere between nought and five per cent. It's likely that people setting out to buy property over the last quarter have been very cautious after a lot of negative media attention.

For the next few months, the company is positive about price growth. It expects the market to settle down, and people will put their homes up for sale as normal.

But what about longer-term? Well, it's confident there as well. Over the next decade and even longer, it expects to see good growth, and says anyone that sets out to buy property now shouldn't be too worried about short-term price wobbles.

That's good news for you as well if you are planning a property sale soon.

What about interest rates? There have been a number of rises over the last 18 months, followed by two recent drops. That's restored a little confidence for homeowners or anyone looking to buy property. There's nothing more likely to dent a growing housing market than increasing mortgage payments.

Assetz believes there will be bank base rate reductions of around 0.75% in 2008. If that happens and you have a base rate tracker mortgage, you will see a drop in your monthly outgoings.

As an investment company, it also looked at whether rents will go up. And it believes they already are according to a number of recent surveys. Figures shows that London rents are already at 15%, and there is likely to be continued growth around the rest of the UK. Good news if you have a buy-to-let; not so good if you need to rent somewhere to live!

It says first-time buyers have dropped from more than a fifth of the market to less than ten per cent. And at the same time people are buying in less volume, but at a greater rate than property is coming on to the market.

That means a substantial number of people are switching from buying to renting, and there is a disproportionate number of smaller households resulting from frustrated first-time buyers who can't get on the property ladder.

Finally, Assetz looked at whether or not population growth fed by immigration would continue, supporting house price growth. And it seems there is going to continue to be enormous demand. Government figures suggest the population will grow by 4.4 million by 2014.

All in, the company believes 2008 is a great time to buy property. It advises people to behave like professional investors, by acting against the market and taking a 10 to 15 year view.

Source: http://www.articlesbase.com/

International Real Estate - be Careful

2008-01-08T04:36:00.000-08:00

Author: Steve Gillman

ooking beyond our borders at the international real estate market might make sense for a second home or an investment. My wife and I recently bought a small lot a hundred yards from the Pacific Ocean in Ecuador, with the idea of having a second home there. The price, $3,000, shows why people look to other countries for real estate. Where in the United States can you buy a lot near the ocean for even ten times that much?

On the other hand, there are some risks in investing in property abroad. There are some things to think about that you don't normally have to consider when buying real estate in the U.S. And unfortunately, there are even some hard lessons to be learned from our own experience.

International Real Estate - Some Considerations

At the time we bought the property, in early 2007, Ecuador had been experiencing an economic boom for years. This was partly because the country adopted the U.S. dollar as it's official currency in 2001. Inflation was no longer an issue, and businesses were starting everywhere. New subdivisions - like those in the 1950 here - are still popping up around most of the major cities. Easier financing has even put more cars than ever into all those new driveways.

Political leaders have seemed to come and go too fast over the years, but even when the process was chaotic it was mostly peaceful. Ecuador was a stable democracy that seemed to be heading in the right direction. Most of the changes that had happened since my wife grew up and went to university there were good changes. Then came Correa, the current president.

Apparently the system wasn't as stable as we thought. Earlier this year, he prevented many opposition members of congress from entering the parliament. Then there were elections to create assembly for the rewriting of the constitution. The assembly (now elected) could dissolve the congress or even hand over dictatorial powers to Correa. The public, unfortunately, has mostly been on Correa's side.

Unfortunately, I say, because Correa seems to be doing many bad things. He openly admires Hugo Chavez, the socialist leader of Venezuela, and Fidel Castro. He talks about a "new socialism." Already he has told international oil companies which operate in Ecuador that they will not be getting all of the profits promised for their investments.

As you can imagine, many wealthy Ecuadorians and foreign companies are already taking their money out of the country. There are rumors that Correa plans to steal the real estate owned by foreigners (I won't use the euphemisms - theft is theft). It is rumored that he may even steal and "redistribute" the second homes of Ecuadorian Citizens - especially those along the coast. This could include our property.

The obvious lesson? When buying international real estate, you need to more than research property prices. You need to take a close look at the political climate of the country. The law may be clear and allow for foreign ownership, but laws can be changed. Some other tips:

1. Hire an attorney to be sure everything is done correctly. Have a list of questions for him or her, so you know exactly what you are getting into.

2. Investigate what it takes to sell the property. You may not want to keep it forever. This is a legal and market matter. Are there any legal or tax issues you need to know about? How long does it normally take to sell a house?

3. Know before you buy what the other costs will be. How much are taxes? How much will you have to pay for basic services like water and electricity.

International real estate may be a great investment, depending on where you buy, how you buy, and what the market is doing. Looking overseas can also be a way to afford a second home in a beautiful place. But take some basic precautions and learn from our lesson.

Article Tags: Real Estate, International, International Real Estate

Article Source: http://www.articlesbase.com/

Real Estate Investments in Texas

2008-01-06T01:26:00.000-08:00

Author: Tim Dillard

The real estate market is full of treasures for investors with a keen eye and a nose for sniffing them out. It's one of the best fields to look into if you're looking to make money off an investment, simply because the market fluctuates so much, and housing prices normally rise.

The city of Houston currently has a number of projects that are perfect for investors. By taking advantage of these developed sites for either commercial or domestic purposes, you could find yourself making bushels of money in the near future.

Properties are located all over Texas, a state with so much land that it's growing faster than most states. As it grows, real estate prices will increase, especially where there are developed sites, since they are in areas that are currently unpopulated, but are expected to have thousands of people flood over in the very near future.

We know this because there are a number of planned communities currently under construction where there are developed notable commercial lots. These communities are expected to house thousands of new homeowners each, and since these developed sites are located in close proximity to them, the prices are sure to rise dramatically.

So if you're looking for Texas real estate investments, our developed sites in Houston are worth getting to know. By purchasing them now at this low price, you can easily make much more in a few years, once you have built up the site and new residents pour into the area. Really, it's a real estate investors dream.

A number of well known chain restaurants and department stores have already bought development sites, and soon they'll start to build and therefore increase the value of the sites in the same shopping centers. That's why it's important to act now in order to get the best prices available, because once the sites start to build up - the prices are going to increase dramatically. If you're not in on that now, you may not be able to find a deal like this for quite some time.

The good thing is, that deal still is taking place, and since the planned communities, will not be ready for habitation until at least a year. That gives you as an investor enough to figure out how you want to proceed with our site and what site in particular you are interested in investing your time and money in. With retail pad sites and offices ripe for the picking, you certainly do have a choice in the type of investment you get your hands on from us.

As mentioned before, the population of Houston will soon be rising as more communities come into being. Now, the land is cheap, and so are our developments. Soon, they'll be worth much more than the initial money you put down for them.

If you're interested in commercial sites, take a look at sites that are currently in development. There are many retail spaces still available and a few office spaces as well. With more than enough property going around, it's easy for investors to get a grip on the real estate market in Houston.

However you may want to look at commercial properties, they will still increase in price dramatically in a few years. By building them up, you could make even more money.

Tags: Real Estate Market, Texas Real Estate Investments

Article Source: http://www.articlesbase.com

Sifting Through Commercial Real Estate in Houston Texas

2008-01-05T01:17:00.000-08:00

Author: Tim Dillard

If you are looking for low-priced commercial property for sale, Houston might not be your best bet. However, if you are looking to make a good real estate investment or buy premises that will really allow your business to grow and give you access to all of the clients you want, then you should definitely be looking at the commercial real estate Houston, Texas has to offer.

One of the things that has contributed sharply to the growth in the Houston property market is simply the fact that it has not slowed down as much as many other local property markets! The changes in subprime lending laws have resulted in a lot of Americans not having the money to purchase smaller properties, or spend as much as they like. However, Houston seems to have been relatively unaffected by a lot of these developments and property sales have not decreased significantly in either the residential or commercial sectors.

Houston, Texas has a lot of commercial real estate on offer, but some of these are better buys than others. All of these properties are chosen on high traffic count and are prime spots for commercial retail. Houston is a massive consumer community and retail stores with high traffic really do well in high traffic areas.

Several large name retail outlets have already moved in, and all of these enterprises are doing extremely well. The high traffic of this retail real estate is a veritable river of revenue, and many new businesses are enjoying unprecedented growth a few short months after opening in a new development.

Allot of the commercial real estate Houston, Texas has to offer has already been bought up, but new buyers need never fear as you will often find new developments changing hands several times in their first few years as ownership settles. There are a lot of good bargains to be found as companies sell of real estate to focus on other investments, and commercial buyers interested in picking up an excellent investment should look out for these.

Regularly checking the property listings will almost certainly lead to some excellent finds. A lot of new developments have not really been spotted by commercial interests from out of town, and many people have under estimated the Houston retail market.

There are developments where small retail premises can be bought for under $150,000, and these are all adjacent to well-populated housing developments situated in high income areas. If you are a retailer and you want to target a high-spending group, then some of the newer Houston neighborhoods are one place that you can really make a killing!

If you are buying simply for the sake of investing in commercial real estate, Houston Texas is definitely a great place to start for the first time investor. With low prices on fairly high revenue potential properties a careful investor can pick up a high income property for very little capital laid down. The rental from these properties will necessarily be low for the first year, but as soon as the retail potential of the premises becomes realized the rent potential will increase dramatically.

Buyers should not be put off with the recent slowing in housing sales in the area, because the number of new housing developments being built is a testament to the demand for new homes in Houston! Many people are relocating to this city and many investors are buying property in Houston for the same reason - stability.

While there seems to be an impending housing crisis just about everywhere else the property prices in and around Houston have suffered remarkably little from this. This shows great promise for long term property investors, as well as anyone who wants to ensure that their home appreciates significantly in value. This has great implications for anyone interested in investing in commercial real estate in Houston, Texas.

Source: http://www.articlesbase.com/

Getting Rich With Real Estate, Fast

2008-01-04T01:09:00.000-08:00

By: Mike Dodd

Many people can get the 90 LAV loans on investment properties therefore many investors are financing or refinancing their properties at higher percentage values than normal. Many are taking cash out at the closing and many are choosing to pay near retail value for real estate, homes, land and/or properties that are eligible for this type of financing, on the theory that a no money down deal is a good deal, even if it only cash flows a little. Wise investors avoid this (and the strong "sales pitches" by mortgage brokers) thus fair much better.

I just wanted to say that first because an few folks that start in real estate investing fall victim to that very circumstance and loose in the investment. You frequently hear about people who made their fortunes investing in the stock market, but you also hear about investors who lost their shirts. You hardly ever hear about real-estate investors who go bankrupt. It does happen, but not very often. Where there is property involved, there is always "worth" there. Many times creative financing can be the way out of the property.

Many individuals who started in real estate investing long ago are living a very comfortable lifestyle. Investing in real estate can garner interesting returns, so if you're just getting started or have considered investing in real estate, the information that follows is invaluable. All too often, real estate investing and real estate "flipping" remains a well-kept secret. Otherwise, everyone would do it, right? But remember, investing in real estate requires entrepreneurial skills and action taken consistently. Real estate "work" requires a lot of time. You also have to deal with operating and repair expenses. Which brings us to the main item: cash flow....Cash flow is the difference between your income and your expenses on a particular building or property. It may be positive or negative in nature. Without doubt, you'll be much better off if the cash flow is positive.

Two things to keep in mind (and study)...

1. In real estate investing appreciation is the increase in value over time. There are two kinds of appreciation. Economic conditions beyond your control, such as inflation, determine part of the appreciation. The gain is small from this type of appreciation since the gain is offset by the higher cost of living. Another part of appreciation is "market appreciation", which you have all of the control over this part. As you improve a property, you force its value higher. You can purchase a piece of property in major or minor need of repairs and return it to neighborhood standards or slightly higher. This will give you a property that is much higher in value.

2. Leverage is the ability to borrow a percentage of the value of a piece of property. Real estate, usually, offers a great degree of leverage. We suggest studying "creative financing", which can be very detailed indeed. Also keep in mind that there are many tax advantages that can be utilized through real estate investing.

Thomas Edison failed over 10,000 times when inventing the first light bulb. When asked about that he said, "Those were successes not failures. We found 10,000 excellent ways to not make a light bulb." Failure is one step closer to success.

Mike Dodd has studied for years in the field of real estate investing.

Article Source: http://www.ArticleBiz.com

Home Warranty Premiums-what to Expect

2008-01-03T04:50:00.000-08:00

Author: Stephanie Larkin

Home warranties are protectors to homeowners when repair costs are not covered by home insurance. The type of repair costs that might not be covered under your home owners insurance is such things as the plumbing, heating, air conditioning, roofs, and major appliances. Home warranties on the other hand are an added protection against the unknown.

Home warranties are similar to service contracts and typically last one year. Home warranties do not replace homeowner's insurance policies; instead they work together and back each other up. For example, your hot water heater burst and there was considerable damage to several walls in your basement as well as your hot water heater needing to be replaced. The homeowners insurance will cover the damage to your walls and the home warranty will replace the hot water heater. Having both homeowners insurance and a home warranty contract your basement will soon be fixed without you having to take out a loan. You will have a yearly premium for your home warranty which will vary depending on what type of home warranty you choose.

The warranty coverage does not have to be on a new home, in most cases the age of your home will not matter. As long as the covered items in the warranty are in good working condition at the start of the contract it does not matter the age of the items. If your home is in good condition then there might not be a need for a home warranty and you can save the extra expense. Just remember those surprises are usually what causes us the most money. Home warranties have a yearly expense and a service call fee per call. One failing refergerator is worth more than what a home warranty contract is for one year.

When you decide to obtain a home warrant the premiums can be added into your mortgage. Most home warranties are not very expensive. Premiums usually cost about $350 to $500 a year. You will have a service call that is anywhere from $35 - $50 per call. These home warranties can be purchased at closing from the real estate companies. Right at the moment since sales are low in the housing industry some real estate agents are giving one year policies to new home buyers. Home warranties are offered and available to everyone regardless of the age or condition of your house.

As with everything there are the base plans and the premium plans. Premium policies run $150 -$200 more a year and the service call maybe slightly lower. If this is your first time purchasing a home warranty or even if you have had several warranties always do your homework and read the contract thoroughly.

Ask for a complete copy of the contract before you sign and review it with a fine tooth comb. Check to make sure that the appliances and systems that you are most concerned about are completely covered. Make sure there is available service where your house is located. Some warranties do not offer service in rural or even semi-rural areas. If need be call a customer service representative to see what loop holes are in the service availability or response time if you live in a more rural area. An extra charge may be applied for the area that you live in. While speaking to a customer service representative also ask if there is a waiting period or if the contract is taken out January 1 and the stove goes out on January 2nd is it covered? Most generally this is the case and the only thing that you have a waiting period on is 30 days for rust and corrosion.

A home warranty is well worth the $350 - $500 premium per year whether you have a brand new home or an older home. Brand new appliances do not last nearly as long as they use to so if you have new or older appliances then it more than pays for itself if just one appliance goes bad over the year you will have gotten your money out of your warranty. As appliance costs rise every year it is crucial that homeowners protect themselves from this financial burden should a covered item need repaired or replaced.

Home warranties are transferable once a home sells. This brings a level of security to the home's sale. According to real estate experts a house with a home warranty in place sells faster than a house without one. Many new homeowners have already overextended themselves so if the house already has a warranty in place then people do not have to worry about having more money to put out than they were expecting. As a home owner or as a buyer, peace of mind is what you will receive with a home warranty.

Tags: Appliance Repair, Air Conditioner Repair, Home Owner Warranty, Home Buyer Warranty, Home Seller Warranty, Homeowner Program, Furnace Repair

Article Source: http://www.articlesbase.com

Ncr Property Markets in 2008

2008-01-02T04:45:00.000-08:00

Author: George Gonigal

The residential real estate in Delhi NCR is expected to foresee an unprecedented growth in the near future. Rapid commercial developments leading to spillover in housing demand from Noida to Greater Noida, Gurgaon to Manesar, Ghaziabad to Meerut and Faridabad. Here’s a broad outlook:

Faridabad: Faridabad is currently witnessing an upward curve in its real estate sector that is likely to continue unabated, as per the experts. With state-of-the-art infrastructure and facilities and adequate supply of residential units at affordable prices offers a substantial room for growth in the flow of investment. The construction activities are going in full swing in the peripheral area like Vaishali, Indirapuram, Ghaziabad and Faridabad. In newly developed areas like Indirapuram, Vaishali and Vasundhara, the vacancy rates are quite high. But, as more and more office space is built up in Noida, Greater Noida and Gurgaon, vacancy level will decline in these areas.

Gurgaon: Real estate values in the Gurgaon residential real estate market are expected to remain stable in 2008 as many new projects are coming in the region, according to real estate consultancies. The market has seen a continuous rise in the past few years, driven primarily by strong commercial growth and the need to accommodate pressures of urbanization.

Other contributing factors providing a boost to the Gurgaon residential demand:

1. Due to IT / IT ES revolution, corporate base is expanding in the region.

2. High-end projects are underway and more such projects will be available for investment in future.

3. Proximity to domestic and international airports, coming up of highways and expressway and proposed metro link, will enhance the connectivity of the region.

Noida: The twin cities of Noida and Greater Noida emerged as the most important real estate destination of NCR. The demand for residential accommodation will remain moderate and pricing trend continues to remain stable. If developers launch new real estate projects with appropriate prices, no decline in demand is expected in near future. Noida continues to attract IT/ITES companies due to its infrastructure in terms of transport and telecom facilities, lower rentals and capital values.

For more details on Delhi Real Estate, log on to magicbricks.com

Source: http://www.articlesbase.com/

How to Find the Top Places to Live in Galveston County

2008-01-01T01:33:00.000-08:00

Author: Tim Dillard

Are you on the market for a new home? Texas is a great location and you can find top places to live in Galveston County, which lies on the Gulf of Mexico. What makes a "top home" the best? Well, it's a fine mixture of the house itself, the exact location, the community, and the natural environment. However, determining what you want in a house is the easy part; the hard part is actually finding that home! Here are some tips for finding new homes that will fit your needs perfectly.

-Work with a real estate agent. This is by far one of the best tips I can give you if you're looking for top places to live in Galveston County. Real estate agents will not only have an intimate knowledge of the best neighborhoods, but they will also understand the market in these different communities and be able to find homes for you in your price range. Essentially, the real estate agent does the work for you, and unless you're a real estate professional yourself, they can do a much better job. When working with a real estate agent, however, remember that they always want to make the sale. Make sure that you ask the tough questions that are important to you, or else the agent might not mention undesirable attributes of the house.

-Use the Internet to your advantage. The Internet is a wonderful tool in the real estate world, and even if you're not familiar with searching online, you should take the time to browse the World Wide Web for some house listings. Remember when using the Internet that you can't replace real life with pictures. Always travel to see a home before you buy it, because it may appear larger, brighter, newer, etc. in online photographs.

-Announce to others that you're looking for places to live in Galveston County. Word of mouth is a strong aspect of life. When you mention to friends, family members, and others in the community (your banker, your hairstylist) that you're interested in moving, their ears will perk when they hear someone mention that they're selling their home here. You can find places this way before the homes are even officially listed for sale, and when you and the seller have a mutual friend, they'll be more likely to accept your bid or even drop the price a bit.

-Set your budget and stick to it. Galveston County new homes can be extremely expensive. Set your price range before you even begin to look for new homes, and resist the temptation to visit more expensive homes - they'll only make the smaller, less expensive homes pale in comparison. Do a little research of your own and find out which communities (such as the city here) are more expensive than others, and if you want the biggest home possible for your money, look in the more budget-friendly neighborhoods. Remember, take into account the cost of any renovations you want to do to the home and don't break your budget with them! If you're price range is $175,000 to $185,000 and you find a $180,000 home that needs $20,000 worth of repairs, it's not in your budget as you may first have thought it to be.

-Set aside many months for searching. The best places to live in Galveston County are like gemstones - hard to find, but well worth the extensive search. Don't wait until the last minute to look for a house that fits your style. A proper search takes months or even years, and although seeing hundreds of homes can be frustrating, waiting to find the perfect one will ensure that you are happy living in it for years to come.

There is no one neighborhood to find top places to live. This depends on your personal preferences, as well as your budget. Spend some time doing your research and work with others to find the best home possible for you!

Source: http://www.articlesbase.com/

Mumbai Peripheries to Command Real Estate Growth

2007-12-30T04:43:00.000-08:00

Author: George Gonigal

War-scale developments on the front of infrastructure have put the real estate markets of Mumbai peripheral locations on fire. Navi Mumbai and Thane are the one getting maximum mileage out of the emerging picture. Meanwhile, provision of international airport at Navi Mumbai, Transharbour link between Sewri-Nhava and Colaba-Uran, and Road Bridge from Mulund to Airoli are said to be the engines of growth.

Today, business houses are making beeline to set up their offices in Navi Mumbai. And of course, they have reason to do so. Average office rentals in Navi Mumbai are in the range of Rs 60-80 per sq. ft. per month, which is significantly low in comparison to the likes of Rs 350-Rs 500 per sq. ft a month at prime commercial locations like Worli, Bandra Kurla and Central Business District of Nariman Point.

Here is the list of recent deals that would give you a fair idea of office rental scenario at the aforesaid locations:

. Avendus Advisors leased out 12,000 sq ft in IL&FS Centre at Bandra-Kurla Complex at around Rs 300 per sq ft.

. Morgan Stanley leases out 12,500 sq ft of space in Peninsula Corporate Park at Parel at Rs 400 per sq ft.

. Fidelity Investments leases out 1,850 sq ft in Maker Chambers VI, Nariman Point, at Rs 450 per sq ft.

. KPMG leases out 30,000 sq ft in Kamala Mills compound in Lower Parel at Rs 275 per sq ft.

. ABN Amro renews lease at Rs 500 per sq ft (from 180 per sq ft signed three years back) for 3,100 sq ft at Sakhar Bhavan in Nariman Point.

. Three leases renewed at Dalamal House, Nariman Point, with sea-view, at Rs 430 per sq ft (up from Rs 130 per sq ft 3 years back). Such exorbitant rentals in prime commercial locations of Mumbai have paved way for peripheral and suburban real estate markets, property brokers in Mumbai say.

For more details on Mumbai Real Estate, log on to magicbricks.com

Tags: Real Estate, Property, Buy, Properties, Sell, Mumbai

Article Source: http://www.articlesbase.com/

Something Every Investor Needs To Know

2007-12-19T04:01:00.000-08:00

Author: Ranju Kumar

In general now there are only three different types of investments. They are stocks, bonds, and cash. It sounds very simple, right? Fine, unluckily, it gets start very complications from here. You will astonish to see, each type of investment have various types of investments that falls under this.

The stock market can be a full-size frightening place for those who unaware of it or knows something about investing. There is to a certain extent to learn about each different investment type. Fortunately, the information that you require to learn has a shortest relation to the investor which you are. There are also three types of investors: conservative, moderate, and aggressive. The types of funds are also divided into the two levels of risk tolerance called high risk and low risk.

Conservative investors often invest in cash in order to make savings through the interest bearing savings accounts, money market accounts, mutual funds, US Treasury bills, and Certificates of Deposit. These are some of safe investments that mature over a long period of time. These are also known as low risk investments.

Moderate investing may be low risks. Moderate investors often invest in cash and bonds to make double in the stock market. They also invest in real estate, providing that it is low risk real estate.

Aggressive investors like to invest in the stock market, which is higher risk. They also are responsible to invest in business ventures as well as higher risk real estate. For example if an aggressive investor puts money into an older apartment building, then invests more money renovating the property. They expect the rent of the apartments to make more money than the current worth of apartments or to sell the entire property for a profit on the initial investments. In some cases, this works out just fine, and in some cases it is a risk.

State and local Governments also distribute bonds. Unlike bonds released by the federal government, these bonds usually have higher interest rates. This is since the State Department and Local Governments could certainly go bankrupt - unlike the federal government.

State and Local Government bonds are free from income taxes - even on the interest. State and local taxes may be able to surrender. Tax-free Municipal Bonds are common State and Local Government Bonds.

Purchasing foreign bonds is really very difficult, and is often done as part of a mutual fund. It is often very risky to invest in foreign countries. The secured type of bond is to buy the bond issued by the US Government.

The interest may be a bit lesser, but again, there is little or no risk involved. For best results, when a bond reaches maturity, reinvest it into another bond.

Before you set up investments, it is very important that you should learn about the different types of investments, and what those investments can do for you. Recognize the risks involved, and pay attention. History does indeed repeat itself, and investors know this first hand!

Source: http://www.articlesbase.com/

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Delhi Commercial Properties-impossible is Nothing

2007-12-08T03:57:00.000-08:00

Author: George Gonigal

At a whopping rental of Rs 950 per sq. ft a month Khan Market in New Delhi has recently been accredited as the 16th most expensive real estate market of the world and the costliest retail destination in India, by a real estate consultancy.

Originally allocated as seed land to immigrants from Pakistan and the North West frontier provinces, after the partition of India, it presently ranks above some of the most premium commercial locations of the world such as Moscow (Russia), Beijing (China), Kuala Lumpur (Malaysia), Amsterdam (the Netherlands), and Toronto (Canada).

Today, Khan Market has become a status symbol for those who shop in there and also for those who live nearby. From book stores, eating joints, music shops, furnishing stores, property consultants, branded apparels to exotic fruits, vegetables and flower shops, the market is well-known for its variety and quality.

As for the increase in rentals, the demand-supply mismatch is what making the property values in Khan Market to soar. A part of this boost can also be attributed to the problem of shortage of good quality retail space in the right location. With the main city, especially the core areas getting saturated, there is no scope for expansion, which is ensuing development of suburbs, where the values are comparatively less.

Like one of the shopkeepers of Khan Market puts it, “There is no land available for new real estate development; moreover, there is also scarcity of rented land in the market space which is resulting in scorching rentals.”

Khan Market offers an extensive array of showrooms which offers ample options to opt from. It has wide range of branded outlets starting from Reebok, Nike, Benetton, Goodearth, FabIndia, Anokhi, Khadi Gramudyog and so on, it has everything for everyone. Although the real estate values in Delhi are sky-scraping, property markets still look lucrative to investors and businessmen alike, property consultants feel.

For more details on Delhi Real Estate, log on to magicbricks.com

Source: http://www.articlesbase.com

Real estate investment basics

2007-11-14T20:08:00.000-08:00

By Properties mls

As a true asset class, ideal for diversification as well as in optimising returns, Indian real estate made its mark from late 2006-2007. The lowest period in that respect was probably 1995.

Perceptions about investing in real estate have changed over the years. With real-estate markets becoming increasingly vibrant, and with increasing institutional participation in this market, increased investor confidence and increased investments in the sector emerged together.

With increased buoyancy, the real-estate market now falls in the same league as stocks, bonds, mutual funds, gold and commodities, and insurance policies as a viable investment option for investors in all categories – individuals, corporates, and funds.

Let us assume that a property costs Rs 100. This represents a loan component of Rs 85 and a net investment of Rs 15. The basic appreciation of property in most cases is 15 per cent. Assuming that the loan was availed of at an interest rate of 12 per cent and the holding period is two years, the net profit would be Rs 7.9, representing a return on investment (ROI) of 26 per cent. Add to that the additional benefit in tax benefits on deduction of interest paid and repayment of loans from gross income. This increases net returns commensurately.

Office and retail space is among the most interesting investment option available for bigger investors. Here, an investor buys a property and lets it out to a company or a retailer. It earns regular rental income and carries the benefits of price appreciation too. Rental income can range between 11 per cent and 12 per cent on investment, and there is room for capital gains. Again, investors are able to leverage much more efficiently by using Lease Rental Discounting (LRD).

The only risk that a small investor carries while investing in individual properties is the risk of concentration of assets in single or few cities, or single or few asset classes.

For example, if one buys a house in Mumbai or Pune and there occurs a residential market slowdown, one faces the risk of capital depletion.

Source: http://www.Free-Articles-Zone.com

Los Angeles Real Estate Market Woes

2007-11-14T19:39:00.000-08:00

By Tony Wynn

According to a recent article published in the Los Angeles Times, real estate prices are expected to drop across the board in California . In 2008, the California Association of Realtors forecasts that the median price of existing homes will decline 4 per year. The glory days seem to be over as the market readjusts to general softness in home sales. Even though home sales experienced a downturn of around 23 to a record of $576,000. It comes down to another fundamental lesson in supply and demand. The housing market simply is not immune to general principles of economics, as the supply of new and existing homes in California as of August 2007 reached a surplus level where it require around 12 months to exhaust the supply (assuming no additional houses came on the market). The effects of this surplus are beginning to directly impact home prices to the chagrin of sellers. With so many houses on the market it is more and more difficult for sellers to find a buyer.

What does this mean to potential buyers? Potential buyers should look for a decent deal if they are looking to buy a home at this time. Additionally, if a buyer is thinking of buying a house now and reselling in a year or two they might reconsider. While prices might be up in 5 or 10 years it will probably be difficult to sell for a profit in a year or so. What does this mean for sellers. First off there are a lot of homes on the market so it’s a good idea to make sure your home is presentable. Also now is not the time to play hard ball with buyers. I have seen sellers lose a deal by quibbling over the closing date and other such issues. While at the height of the market sellers could be safe in knowing that another buyer would come along shortly. But now sellers should remember there are a lot of houses on the market so a buyer has other options and it might be some time before another contract comes along.

Source: http://www.Free-Articles-Zone.com

Slovenia Property - An Investment for Long Term Growth

2007-11-12T19:54:00.000-08:00

By kelly Price

Slovenia property for sale is becoming popular with overseas property investors looking for overseas property investment. Slovenia property investment has become more popular than ever, since Slovenia was named in the top ten countries in the world in terms of property investment - with forecast growth of up to 280% over the next 10 years.

The reasons behind the growth in Slovenia property are outlined below:

1. EU Membership

Slovenia is a recent member of the European Union joining in 2004. New EU membership normally sees an increase in investment from the community itself and from other countries.

Slovenia has benefited from an influx of capital from the EU itself and private investment. This investment has seen Slovenia achieve the highest economic growth rate of any new EU member state.

2. Strategic Location

Slovenia is located at the centre of Europe and has borders with Austria, Italy, Hungary and Croatia.

It sits between the old established economies of Western Europe and the new emerging economies of the east. The country has also has an efficient infrastructure and good transport links with its neighbours.

3. Rising GDP and Disposable Incomes

As GDP has risen, so to has the demand for high quality housing and this has led to a property boom. One of the most popular places to buy Slovenia property for sale has been the capital Ljubljana, where prices have been rising at up to 30% per annum.

The stringent land development laws have meant that supply has been unable to keep pace with demand and prices are rising.

Ljubljana is not the only area to see Prices rises and many other destinations are starting to take off and show solid growth in terms of capital appreciation and rising rental incomes.

4. Tourism

Slovenia may only be a small country about the size of Switzerland but it has diverse and varied scenic beauty which includes:

The soaring mountain peaks of the Julian Alps, fairytale alpine forests, a beautiful stretch of Adriatic coastline with the pretty town of Piran, rolling hills, and valleys dotted with vineyards, as well as rivers and lakes and bustling cosmopolitan towns.

Slovenia is only now starting to spend heavily on its tourist attractions and it looking to increase the number of tourists dramatically.

With budget airlines now offering cheap flights to the country it's more affordable than ever.

Slovenia is popular with skiers and Slovenia is actively promoting this industry as well as to overseas visitors, to enjoy the scenic beauty of such places as, the Soca Valley and Lake Bled.

With the expansion of the tourist industry comes a demand for high quality accommodation.

This offers potential capital growth, as well as valuable rental income.

The key to any property investment is to visit and get a feel for the area before buying.

There are many specialist estate agents dealing in Slovenia property for sale which cater to overseas buyers.

The buying process is straightforward and local finance options are available and the whole process should take around a month to complete. Slovenian law protects both buyers and sellers.

This ease of purchase when buying Slovenia property is in contrast to some of its neighbours.

A Solid Long Term Investment

Buying Slovenia property for long term investment looks attractive:

You have an economy that is booming and an increase in tourists - which should rise for years to come, as more people discover the delights of this small, beautiful country.

Consider Buying Slovenia property and you will find it has a lot to offer any serious overseas property investor.

Source: http://www.Free-Articles-Zone.com

Tips for Luxury Home buyers in Southern California

2007-11-10T19:43:00.000-08:00

By Ron victor

Today each and every real estate market is very different, so buying a luxury property is must be exciting, but you need to know more about the real estate market before you buy a property. Looking for a new house in Southern California's luxury real estate market is quite thrilling. With an incredible climate and several amusing places to live, one should first decide where you are looking for a home; whether is it near a beach or near the city or perhaps on the hills. Next important thing to consider is what sort of luxurious facilities you would like in your house and the price. You should be ready to spend in millions. People who are interested in buying luxury houses frequently look for facilities in their house that reflects a posh and relaxed lifestyle. It basically includes; home theaters with large plasma T.V, gourmet designer kitchens, wine and champagne cellars, costly and high security systems to protect their dream home and comfort for the pooches. They also look for costly and cozy furniture, beautiful interior designs, decorations, lovely garden with a fountain and an amazing swimming pool.

If the price is not a matter for you, then what you’re looking for entirely depends upon your lifestyle and taste. Sources show that there is a key concern for Southern California luxury homebuyers who are looking for ‘designer’ kitchens. Other top-rated features include; an entertainment room with home theatre, luxury bathroom with steam and massage, gym with all high-tech equipments and a leisure room.

Some useful tips to make your search for luxury homes easier: Inspect your electricity bills as electricity is very expensive in Southern California. Always choose a real estate advisor who is professional in Southern California marketplace, they need to have sold lots of houses, should have concrete references and a successful records to verify this. Get to know what you can afford and make sure that your real estate agreement has all the necessary information. Remember that brilliant garden statuette that you saw when you first visited the house now may not stay there. Make a little title search before closing and purchasing title insurance. Buying a luxury house is a huge investment. So this requires lot of time and efforts. Browse the internet to look for more information such as crime rate, libraries, hospitals, etc… Hope the above tips might help you finding your dream house in Southern California.

Source: http://www.Free-Articles-Zone.com

Buy My House- Please

2007-11-04T19:51:00.000-08:00

By Webmaster ibuyhouses

Selling a house can be a tricky proposition and many people will find themselves lingering in their old home long after the time when they are ready to move onto their new one! There are many reasons that you might not have been able to sell your home. Maybe you’re not sure how to market it, or perhaps you’ve come quite close several times but when potential buyers realize something about the structure of the home or about the shape it’s in, they balk. Remember that the longer your house stays on the market, the longer you will be unable to move forward with your own move. When you are trying to sell your home, nothing is more demoralizing when you believe you might be very close to closing a deal but then the buyer backs out at the last minute.

If you are tired of the mess that comes with trying to sell a house, a real estate investor might be able to solve many of your problems! A real estate investor will be able to give you a yes or no much more quickly than the average buyer, and this efficiency is their key advantage over other buyers. If you are tired of trying to sell your house and tired of haggling with prospective buyers, call a real estate investor to see what he can do for you today!

There are several reasons why a real estate investor might be the ideal solution to your problems. First, a real estate investor has a totally different interest in your house than most people will. Most people are looking to move their families in, and thus they will have many more concerns that need to be considered. They need to consider the local schools, the neighborhood, the convenience of the location to their jobs, and much more. A real estate investor, on the other hand, will be able to look at your property and tell you whether or not she wants to buy it in very short order.

A real estate investor is not interested in living in the house, but rather in turning it over to make a profit. Because they have a great deal of experience in buying and then flipping houses, they will be able to identify what it is that makes your house saleable and what they need to fix in order to sell it themselves. Because of this, there is a good chance that things that need to be fixed when you were dealing with families or couples will actually make the property more attractive to real estate investors. "May someone sell my home?"

Similarly, real estate investors tend to be one-person operations, or at least, only one person makes the decisions on house-buying. How many times have you had one person in a couple completely in love with the house, but the other is dead set against it? When you are dealing with a real estate investor, you will be dealing with one person, and that will take a lot of the stress out of the negotiation. Dealing with a real estate investor can also be advantageous when you consider that they may be willing to overlook flaws in your house, as they have every intention of fixing it themselves.

With a real estater investor, you will no longer have to show your home to potential buyers. You will no longer have to deal with the scheduling and the phone calls and the viewing, and you will no longer have to answer the same questions over and over again. A real estate investor can tell you in very short order whether or not he wants the property and then he will be able to make an offer. A solid offer can be a relief after haggling with prospective buyers and more often than not, you’ll find the first offer to be quite fair.

When you are trying to get out of your house, every setback can seem enormous. The closer you get to selling your house, the more frustrating it is when buyers back out at the last moment. If you’re tired of dealing with buyers and want to get out, call a real estate investor and see what they can do for you!

Source: http://www.Free-Articles-Zone.com

Hyde Park: An Austin Original

2007-11-01T19:56:00.000-07:00

By Dane Smith

Imagine a neighborhood of adorable medium houses seated comfortably on shady streets lined with trees. But then splash a rainbow across the entire area. That could get you close to what the Hyde Park neighborhood in central Austin is like. This old part of town has a lot of history, and was one of Austin's first developments north of the Capitol. Many of the houses are over fifty years old, but are lovingly cared for by tenants and successive owners, often with a heavy dose of their personality thrown in for good measure.

Spanning the area from Dean Keaton street in the south to around 45th street or so to the north, and from I-35 to the east and Guadalupe street to the west, Hyde Park is a fairly large neighborhood. As it is located comfortably between many of the major thoroughfares in Austin, Hyde Park has long been a staple area for college students at the University of Texas, which has contributed heavily to the area's looks and atmosphere. Many of the houses are painted exuberant colors with eye-catching designs and artistic sensibility, a legacy of many resident's desire to "keep Austin weird." This also contributes refreshing diversity when compared to the cookie-cutter houses that so many other neighborhoods primarily consist of.

The biggest advantage of owning a house over an apartment or condo is the lot on which it lies, and Hyde Park has this attribute in spades. While many of the houses are modest in size, with most in the 1-to-2 bedroom range, the expansive yards more than make up for it. With more privacy and more space, Hyde Park houses are cozy and comfortable. The larger back yards also lend themselves to Austin ingenuity, with expansions, garage apartments, and other conversions being common. This also contributes to the value of each house without changing its character.

And what character! Most of these houses were built in a time when different trends were popular, and these designs have often proven to endure to maintain their popularity in a way that more modern houses cannot. While most houses built in recent years have good design behind them, one often gets the impression that a house is devoid of personality and designed to be as inoffensive as possible. While this approach is safer for an architect, it makes houses like those in Hyde Park that much more desirable. Some features that were often viewed as necessary in years past have either become unfashionable or become viewed as excessive, such as high ceilings and large porches.

However, these aspects of houses are very important to many prospective homeowners.
This is evident by the continued value of the neighborhood over many years. Many houses in Hyde Park have higher ceilings than newer houses, especially because many are one story. This contributes to a feeling of space that many newer homes lack. Hyde Park houses also often have a disproportionately large number of windows, which provide increased sunlight and adds to the increased sense of spaciousness. The characteristic large porches also make the homes seem cozier, more inviting, and help to connect neighbors. I personally think one of the best benefits to having a house over an apartment is having a large porch on which to relax, and this seems to be an attractive attribute to many potential homeowners as well. So, with these positives in mind, I encourage you to check out Hyde Park if you're looking for a home in Austin. I don't think you'll be disappointed.

Source: http://www.Free-Articles-Zone.com

Retire in Style: Move to Cape Coral Florida

2007-10-31T20:05:00.000-07:00

By Bill Black

Finding those stairs a little more tiresome?

Does the grass seem to need cutting more often these days?

Getting older often signals a move and whether you are a baby boomer ready to pack up and follow the sun, or a senior about to pursue your dream, the Cape Coral area is a retirement paradise. The City of Cape Coral itself is not very senior - being only half a century old, so all its buildings are still new and sparkling. The yacht club, medical clinic, golf course and shopping centers are all efficiently up to date.

Although there is a large retirement population, Cape Coral boasts a diverse age range, with the over sixties forming less than half the overall population. There is a big plus to this: when your family comes to visit you in this holiday haven, they can choose from many amusements, including Sun Splash Water Park, Mike Greenwell's Family Fun Park and the most recent addition, the 27,000 square foot Eagle Skate Park.

There is also the Independence Day firework display, known amusingly as Red, White and BOOM!!, which is held every July 4th. It is the largest firework display in the whole of the South West Florida area.

Yes, you can forget strenuous plane rides or road trips to visit the grandchildren. Just relax and let them come to you for the vacation of as lifetime. Meanwhile your lifetime will be one long vacation.

To ensure a hassle-free move, there are now newly-trained Senior Real Estate Specialists who will help where they can with some of the more challenging aspects of moving. Referral to an elder law attorney, estate sales or even lawn care are just a few of the problems that this realty service could take care of for you.

Therefore, the daily problem could be as pleasurable as -what shall we do today? There is so much to choose from: dancing fountain shows, ornamental gardens, rose gardens, taking a trip across one of the bridges into bustling Fort Myers or, of course the favorite, playing around on the water. Cape Coral offers enviable beaches, the broadest spectrum of boating choices and world-class fishing with many different species!

For those of you who may be interested in a waterfront property, you can view the prospective properties from both land and water using my floating office. If you are planning a move to the water for the first time, or you need a refresher, there is a plethora of boating instruction, swimming and lifesaving here. You will soon be ready to enter the sailing regattas or power boat races or whatever style of boating is your druthers.

And the tuition doesn't stop with boats; the community education is much diversified. It spans from computers to cookery, from photography to fishing, from tennis to dance, from languages to landscaping, should I mention the varied exercise classes? ...you get the idea. There are many arts and crafts classes and you don't have to buy your decorative shells or driftwood in a store! There are also several non-profit organizations and volunteer groups who would love to meet you!

Right now is also your best time to meet Cape Coral because it is the ideal time to house hunt as we are in our cooler months, a pleasant seventy degrees and minimal rainfall. The perfect weather for you to be introduced to your new home!

Source: http://www.Free-Articles-Zone.com

The Real Estate Purchase Agreement

2007-10-17T20:00:00.000-07:00

By Steve Gillman

A real estate purchase agreement is not a rough guide to a deal. It is a contract specifying exactly what legal obligations each side has. In other words, be sure it says what you want it to say, and has everything you need in it.

Normally, if you are buying a property that is listed with a real estate broker, they will have a purchase agreement ready to have the blanks filled in. If you have a buyer's agent that you work with, he or she will have the necessary forms. There are the routine parts which are necessary, but not easily forgotten or done wrong. These include the following.

The Date - Names of Buyer(s) and Seller(s) - Address Of Property - Legal Description Of Property - Purchase Price And Terms - List Of Anything Included With Property - Date The Deal Should Close By - Closing Process - Disclosure Statement - Signature With Date For Buyer And Seller - Addresses and Phone Numbers Of Buyer And Seller.

These may be routine items, but be sure that you look all of this over carefully. If the disclosure statement clearly states that there is a foundation problem, for example, you can't later get out of the deal when those cracks in the basement make you nervous. With the following items, be especially careful.

Real Estate Purchase Agreement - The Crucial Items

Good Faith Deposit or Earnest Money - Real estate agents will try to convince you that your deposit should be as much as possible. There is no "normal" amount, and while it's true that a seller might take an offer more seriously with a bigger deposit, this is up to you. Real estate is regularly bought with $500 deposits. An alternative is to include a deposit of $200, and the line, "to be increased to $2,000 when all contingencies are satisfied." That way if the inspection shows nasty surprises your money isn't tied up while the seller argues that there isn't a problem.

Designation Of Who Pays What - Make sure the agreement clearly states who will pay for what. Are you splitting the cost of the fee paid to the closing company? Who is paying each of the other closing costs. If it doesn't state in the purchase agreement that the seller is paying, expect that you are.

Financing Contingency - Unless you are paying cash, you will probably have to get a loan. A Pre-approval from the bank doesn't guarantee much, so be sure that you make the agreement contingent on getting that loan, and specify the terms. For example, it might read, "This offer is contingent on buyer obtaining a mortgage loan within seven days, at 7.5% annual interest or less."

Inspection Contingency - You may not need an inspection if you are buying land, but with residential real estate an inspection is a good idea. Generally, the clause for this will allow you about a week or ten days to get it done. It might read something like this: "This offer is contingent on an inspection of the property at buyer's expense, and buyer's approval of the results of that inspection within seven days."

Other Terms, Conditions or Contingencies - There are sometimes other issues, and you have to address them in the real estate purchase agreement. For example, if the back yard is full of junk cars, you better add a clause like, "All cars and junk to be removed at seller's expense before closing." If you are shopping alone but your wife needs to approve the home, you could also add a clause like, "Offer is subject to a approval by spouse within two days." Then your wife can look at the house later and say yes or no to the deal. As you can imagine, sellers may not like that one.

If you are not working with an agent, you can buy an agreement (sometimes called an "offer to purchase" or "buy-sell agreement") online or in some office supply stores. Having a lawyer review all the paperwork is best. Remember that a real estate purchase agreement is a binding contract the moment you and the other party sign it.

Source: http://www.Free-Articles-Zone.com

Home Buyers and Sellers Information

2007-10-14T19:48:00.000-07:00

By Ron victor

Buyer
A buyer is a person who engages in the activity of buying or acquiring a house or a property for a consideration. The house buyer searches a house till he/she get a satisfaction in that particular. The responsibility of the buyer is to obtain a good quality house as per is desire. The buyer is required to search the house either on his own or with the help of the agent. The house buyer has too many choices to find a house.

Seller
A seller is a person who will to sell the house to another person named buyer. The seller will engage in the activity of sale of house property to a third party. Seller usually sells his house for a consideration. The seller can sell his house either by listing in the house market or with the help of an agent. The seller has to searches or a targeted buyer. The price offered by the seller should be based on the value of the property. Too much of price on the house makes the buyer to reject the house property.

Sellers Agent
A seller agent is a person who acts on behalf of the seller for sale of any property. The seller agent will act as per the listing agreement between the seller and the agent. This seller agent will act only on behalf of the seller. The Seller's agent or a subagent of that agent has some obligations to perform. The agent has some fiduciary duty which he has to handle carefully and he should have to present himself as truthful as possible while dealing with the seller. The seller has the obligation to pay the commission the agent. The Seller's agents and their subagents will disclose to the seller the known information regarding the buyer which guides the seller to complete the transaction. Since commission for a house is always paid for by the seller, buyers are able to get assistance and information from Agents, at no cost.

Buyers Agent
A Buyer agent is a person who acts on behalf of the buyer for purchase of any property. The buyer agent will find a property which is listed in the market for sale. The obligation of the broker is to help the buyers which are listed in the market. The agent acting only for a Buyer has some obligations to perform. The agent will provide information regarding the property in the market and also guide you in every aspect. They will recommend on behalf of the buyer about the terms & prices offered for sale. The buyer has no need to pay the brokerage fee for the agent. An agent will help the buyer while negotiating the transaction and get you to come to final process. The Buyer's agents and their subagents will disclose to the buyer the known information regarding the seller which may be useful to the buyer. Since commission for a house is always paid for by the seller, buyers are able to get assistance and information from Agents, at no cost.

Agent Representing both Sellers & Buyers
An agent is defined as a person who has given authority by the principal to deal with third parties, so that the principal will be legally responsible for the agent act. Buyer agent and the seller agent is a person who forms a legal relationship has principal-agent-obligee relationship. The agent finds a relationship with the buyer and the seller. An agent is a person who acts on behalf of the buyer and the seller. Most people will understand the term the agent. Both the agent and broker are one and same.

An agent will act directly or indirectly to the buyer and seller legally with an agency license. The agent will act only on direction of both buyer and seller. The agent should act with the fiduciary duty while dealing with the seller and buyer. As an agent, without the permission of the respective person an agent cannot able to disclose any information either to buyer or to the seller. The agent should be careful while listing has been takes place. The agent should have to act lawfully with regards to the terms and condition of the home sale.

Duties of Seller's Agent
• The agent while dealing with the seller owes some responsibilities.
• The agent ensures that he/she will promote the interest of the seller.
• He ensures that he will disclose the information regarding the buyer.
• The offers should be presented to the seller with respect to the price consideration.

Duties of Buyer's Agent
• He Promote the interest of the buyers.
• He discloses the information regarding the seller to the buyer.
• He also discloses to the buyer all information regarding the willingness of the seller to complete the sale or to accept a lower price.

Source: http://www.Free-Articles-Zone.com

The Heart Break of Home Selling

2007-10-11T19:58:00.000-07:00

By RE Writer

When your home is for sale, you probably have mixed feelings. You may be excited to move, and looking forward to what is coming up in your life. Chances are, though, you are also feeling a bit sentimental about the place you've called home for some time. While you feel like you know the home best, and can tell viewers all about it, the truth is, this is a job best left to the Realtor®.

While you know a lot about your home, the Realtor® knows a lot about the client viewing the home. They have discussed this potential buyer's needs and wants with them, and they know what they are looking for in a home. The future new owners may appreciate things about the home that you have barely noticed, and may not value what you think are the home's best features. A Realtor® has an objective view of the home. They not only understand the viewer better, but they don't have the emotional attachment that you have, and can therefore do a better job at showing your home.

The best thing to do is arrange with your Realtor® ahead of time when you will be out and they can most easily show your home. Lock boxes were created for this purpose, allowing agents access to the house without you needing to give out a key. Modern digital lock boxes record the id of the agents who used them, so there is never any mystery as to who was in your home. Obviously, Realtors® are bond able, must pass criminal record checks in order to gain their license, and their reputation is like gold to them,so there is no risk to you in having your home shown while you are not there.

If you must be home when the home is shown, be sure to stay out of the way. Let the Realtor answer their client's questions, unless you are specifically asked. Some people will want to meet the homes owners, but for other people, it breaks their illusion of the home potentially being theirs.

Don't forget about pets. Perhaps your pet can visit a kennel for show dates. For safety reasons, a dog should definitely not be home if you aren't. And be sure that pet's dishes are clean and out of the way when the home is being shown.

Source: http://www.Free-Articles-Zone.com

Dubai: Areas of Historical Interest

2007-10-04T20:03:00.000-07:00

By Editor 123

Bastakiya district offers a glimpse of old Dubai with its narrow lanes and traditional courtyard houses with cooling wind towers give a fascinating insight into traditional life.
Dubai Mosques

Lovers of architecture can wander beautiful mosques’ of Dubai including Jumeirah Mosque, a unique example of modern Islamic architecture. Built of stone in medieval Fatimid tradition, Jumeirah Mosque has twin minarets and a majestic dome. The mosque is known as a major city landmark and illuminated in the night.
Dubai Museum

Dubai museum is one of the major historical attractions of the city. Located in Al Fahidi Fort, built to guard the city's landward approaches. It was built around 1787 to serve as a palace, garrison and prison. In 1970, the fort was converted into a highly depicting museum to present Dubai’s history and changes. One can see the typical scenes from traditional Arabian houses, schools and mosques. Interactive style of the desert and the animals looks funny for both adults and children. A glimpse of marine life looks impressive too.
Heritage & Diving Villages

Feel the strong Arabic cultural at Heritage & Diving Villages located near the Creek and observe traditional potters and weavers working on their crafts. Feel aromatic with typical Arabic cuisine along with traditional music and dances.
Wild Wadi

This theme based Water Park got inspiration from Sinbad and ancient Arabia and built nest to the Jumeirah Beach Hotel. The park is 12-acre in area and offers thrilling rides, a surf area, a wave pool and many more water activities for all ages.

Source: http://www.Free-Articles-Zone.com

Privacy Policy for Real Estate Market Reference Center

2007-04-08T05:33:00.000-07:00

If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at kedarah@hotmail.com.

At Real Estate Market reference center, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by Real Estate Market reference center and how it is used.

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