Real Estate Site

A real estate agent will guide you to - and through - the most important decision of your life. How do you know, for sure, that he will act in your best interests?

How do you know if he will really work for you? Is he too busy for you? What of his personal integrity? How much effort will he expend for you?

You will want to feel very comfortable with the real estate agent that you choose, comfortable enough to be able to say ‘no’ to the bargain of the month and ‘no’ to the almost perfect house.

He must not be intimidating to you, yet a business-like attitude and assertiveness are qualities you will want in a professional acting for you.

Often when you are choosing a business professional, the outcome is not so critical, but who wants to lose their dream property? Choosing a real estate agent falls into the same bracket as choosing a medical doctor or a lawyer.

The interview and short listing process is really all about finding one that you feel comfortable with. Real estate agents usually have a ‘presentation’. This is usually a very business-like procedure and if they are having an off day, the presentation may click in automatically.

However, you will need to get past the ‘rehearsed’ person and get to know the real one. Most agents will have integrity, they have their reputations to think about, but you need to feel that you also have one that understands you and your wants.

Some agents have amazing sales records, so ask about sales history. Ask if he would mind giving you some recent sales to choose references from. Gather up at least half a dozen and then choose your own references to phone. Before you phone, ask the real estate agent a few questions.

For instance: How long was each house on the market? How many were reduced and why? How many times and by how much?

Some other questions could be: Will there be a marketing plan drawn up for the sale of your house? Will it be carried out? What guarantees do you have? To see if the agent is keen and enthusiastic, ask him if he has taken any extra real estate courses.

See if you find his voice or tone very monotone; if so, do you find it relaxing, or would you prefer a lively voice generating a more energetic feeling?

Finally you must try and gauge the quality of his negotiating skills. Ask about commissions; in a house sale it will be necessary for you both to be able to discuss money amicably.

Observe the way the agent explains things when you try and negotiate a lower rate. If he can convince you that his fee is fair and that he will have to work hard to earn it, then he can convince others to listen to his viewpoint when he is working for you!

All this discussion will give you enough time and a good basis on which to judge the personality of the agent. Then the bottom line is that you have to pick someone that you feel you can trust.

Mark is in the top 1% of sales associates in the United States, and is based in the Northville Michigan real estate market. If you’re looking to buy or sell property in the Birmingham MI real estate area, be sure to visit Mark at http://www.markzproperties.com

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Real estate investment goes beyond the arts-and-crafts glamour depicted on television shows about flipping houses. Instead, it’s about diligence, seeing a project through, maintaining a property as a landlord and having the patience to wait out a bad real estate market.

Keep reading for a rundown of three sample scenarios of property owners and how they can make a better commitment to their real estate investment.

Property Owner 1 - The Flipper

The uncommitted flipper is the one who walks into a deal without first investing the time to think out the plan, write up a budget, settle on an up and coming area and wait for the most preferred house.

Meanwhile, the committed flipper takes the time to research neighborhoods, read up on housing sales in their area, and walk through other homes in the nearby vicinity. A committed flipper also goes the extra mile - whether it’s with granite counters or hardwood flooring throughout the house instead of laminate. It’s that commitment and sweat equity that really pays off with a real estate investment.

Property Owner 2 - The Landlord

The uncommitted landlord is the fly-by-night property purchaser who doesn’t take the time to read the local Tenancy Act, understand the county and state legislation regarding property rentals, screen proper tenants or even read up on what’s involved with being a landlord.

Meanwhile, the committed rental real estate investor is either ready by outsourcing the job to a property management firm or having read the local laws and landlord expectations.

The committed landlord is able to prepare a property, attract quality tenants and retain them, and always follow the law regarding tenant’s rights and building standards.

Property Owner 3 - The Personal Real Estate Investor

Whether it’s your primary residence or a summer home, every property owner is a type of real estate investor. After pouring hundreds of thousands of dollars into your home, it should be considered an investment, particularly if its making money.

The uncommitted personal real estate investor makes poor upgrade and renovation decisions, doesn’t give due consideration about resale value or amenities until a few weeks before the house goes up for sale and hasn’t been keeping an eye on his or her home’s property value.

Meanwhile, the committed personal real estate investor always knows the value of his or her home and routinely thinks about resale when making any improvements or renovations in the six to twelve months before the house goes on the market.

For information on exciting real estate locations, please visit http://www.realestatelocale.com a popular site providing great insights concerning home purchase ideas, such as real estate in Milwaukee WI, Shorewood real estate, and many more!

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Investing in private or hard money trust deeds returns in excess of 12%, year after year, with monthly interest checks, with limited risk.

Many people have heard of hard or private money trust deeds, but, they do not know how to participate in these lucrative investments. Let me explain how simple is is for almost any investor to invest in high-yielding trust deeds.

An investor needs to realize that a private or hard money loans is lent only to property owners with sufficient equity. This is what makes the investment low-risk for the investor. Normally, a private money loan is made only when the property has in excess of 35% or more. Example: a property owner owns a 5 unit multi-family complex, the value is $1,000,000, and he currently owes $300,000. He has 70% equity. In this case, we would lend a maximum of $300,000, or a new loan to value of 60%. We would make sure the property cash flows, thus easily paying all debt and expenses before we would make this loan.

In this scenario, we would offer the borrower a new 1st trust deed of $600,000, for a term of 3 years, with an interest rate of approximately 12%. We would also offer another option on a 2nd trust deed, as the borrower may have a low interest rate in the first, and he may want to keep that loan. We would offer a $300,000 2nd trust deed, with an interest rate of 14%, interest only, with a term of 3 years.

Now comes the more tricky part…who services the loan? This is where newcomers need to be careful. Why? well, if a new 2nd trust deed were offered, the investor needs to make sure the 1st trust deed is paid every month, otherwise,it could go into foreclosure. A good private equity company would offer this service, wherein they service the loan, and make sure the 1st trust deed is paid on time.

A good private money company sees hundreds of deals each month, and they turn away most deals. In today’s market, there are more deals that there is money to fund the deals. In my case, i personally see over 50 deals each week, and only accept 5-10 of these deals. I am always looking-out for the safety of my investors capital.

The bottom line, is that investing in private or hard money trust deeds is a great investment because:

*Your investment is secured against real estate, perhaps the most stable investment in the world.

* It is an investment that is easy to understand. No need to study financials, stock charts, or listen to some analyst on a new channel.

* You know your return on investment upfront, when the deal is structured. You know the amount of the check each month that you will receive in your mailbox.

* Your investment can be completely passive. A good private equity firm does all the work for you.

* This method of investing is proven. Some of the wealthiest people in America only invest in high-yielding trust deeds.

The real beauty of investing in trust deeds, is that this investment can be used through a retirement account. So, even small investors can benefit from investing in high-yielding and safe trust deeds.

Donald Timms specializes in commercial and residential private money loans and traditional commercial loan funding. Donald can be reached at (800)560-9488 or (805)754-1859. His email is into@privatemoneybankers.com and his website in located at http://www.privatemoneybankers.com

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On May 5, 2008 the Federal Housing Administration (FHA) through Housing and Urban Development (HUD) is launching an online appraiser application process that will replace the existing process of sending paper applications through the mail. This process may make the process of applying to become a FHA Roster appraiser much easier and faster.

Information on their website states that the cut off date for accepting paper applications is April 22, 2008 and that appraisers should wait until after the May 5th date to avoid the possibility of their application not being accepted. If applications were mailed any time prior to April 22nd, appraisers should not reapply and are encouraged to wait the eight to twelve week processing time, although the process should be faster after the implementation of the new system.

To find out if an appraiser has been placed on the active Roster, appraisers can go online the FHA website and find out. HUD does not send any correspondence if the application is accepted. A letter is sent and the reason identified if the application has been been denied or the appraiser is ineligible.

FHA Connection is a website that provides approved lenders and businesses partners, like Roster appraisers with direct, secure, online access to computer systems of HUD. FHA Connections allows appraisers to update their business information and to get their identification number. To gain access to FHA Connection, appraisers have to apply once they have been placed on the Roster.

Because the loan limits were temporarily raised for FHA insured loans, FHA Roster appraisers might become busier appraising for FHA approved lenders. The VC form, once required to accompany the URAR 1004 appraisal form, is no longer used and the requirements of an appraiser while appraising for FHA approved lenders has been simplified.

And for more information about appraising, FHA and HUD, visit http://www.appraisalgroupsocal.com

Dawn R Walker, Certified Residential Real Estate Appraiser and FHA Roster Appraiser is currently
authoring a EBook on appraising for FHA insured loans.

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Habitat pair heads to Paraguay.
Breckenridge and Miller left on Friday, July 18, to join members of the Global Village in Asuncion, Paraguay to build houses. Global Village is an extension of Habitat for Humanity to go to other countries to build houses for those who need them.

‘I think it is not enough to sit in church and talk about what we can do,’ Breckenridge said. ‘Sometimes you have to do more and we felt as if we should go. We will join 12 others to do the work in Paraguay.’

Those who gathered for their send-off on Thursday presented the two men with some gag gifts to give them a few laughs while they are gone. The trip is to last 17 days and in that time, they and those who are with them, will build as much as they can.

‘The way they build is so different than it is here,’ Breckenridge said.

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Taxman has Opes Prime in his sights.
‘The three key areas of risk continue to be rental properties, the stock market and the capital gains events that occur on the sale or transfer of these assets,’ she said.

News of the ATO entering the fray came as Mr Blumberg continued to fight a rearguard battle against Opes”s main financier, ANZ, this week.

Mr Blumberg accused ANZ of trying to ’smear’ him, after The Australian this week revealed details of his statutory declaration, sworn for Opes administrator John Lindholm, that reinstated allegations he had previously retracted about the lead-up to the firm”s demise on March 27.

The declaration says he told ANZ, before the bank took improved security in return for injecting $95 million in emergency funding, that there had been fraud inside Opes.

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Plans to revamp shopping centre.
Cheryl Bhagwandin, from Wentworth Avenue, Wellingborough, said: ‘If you”re going to have more houses then hopefully that will encourage more businesses and spending power in Wellingborough.’However I think they”ve got to be careful not to disrupt any areas that are of historical value. ‘Otherwise it will be a loss, and there are some lovely parts of Wellingborough.’At the moment two key objectives have been set for improving retail provision in Wellingborough.The first is to redevelop the Market Square so it is reinforced as the heart of the town and the second is to bring more quality and shopping choice to Wellingborough.The Town Centre Action Plan states: ‘Wellingborough needs a significant scale of additional retail floorspace in order to increase its competitiveness. ‘Modern shop units to attract quality retailers are in short supply.’It is hoped to attract specialist, independent retailers and to make national, High Street chains feel comfortable in modern units.

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Land-sale disputes add to costs of freeway projects.
Part of the Inland Center mall property was taken for the project, forcing the state to pay for pricey commercial real estate, said Gary Cohoe, director of highway construction for San Bernardino Associated Governments.

Riverside County Transportation Commission Deputy Director John Standiford said developed areas command higher land prices, driving up the amount governments have to pay.

As land acquisition has become a larger portion of freeway construction costs, agencies are wary of two proposals to limit condemnations and potentially increase the cost the government pays to take land.

The two proposals on the June ballot, Prop. 98 and Prop. 99, would limit the government”s power to condemn private property for a public purpose. Supporters say they are necessary to preserve landowners” rights.

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THE REAL MISERY INDEX IS OVER 15 % AND STILL CLIMBING.
This is what homeowners think they could rent their houses for. And as you probably know it”s been a lot cheaper to rent than own throughout the housing bubble. It still is, especially in the nation”s hottest real estate areas. Take it from someone who”s currently being subsidized by his landlord!

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Mapping Out Earnings.
With rebate check delivery winding down, there is now little shielding the consumer from the full force of $4+ gasoline, deflating real estate and equity markets and rising unemployment. The new reality means a deeper downturn for consumers, higher headline inflation, more belt-tightening from businesses and a mammoth profit squeeze. It also keeps the odds squarely in favor of more rate cuts from the Fed, in our view. Back to the 1970s Once the last of the rebate money is spent, in either July or August, consumer spending is expected to roll over, and hard. The oil shock we”re experiencing is on par with the spike in the mid-1970s and consumer spending will see a similar downturn, in our view. The unemployment rate will probably crest at about 7.0% in mid-2009, a half percentage point higher than our previous outlook.

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