Included page "clone:summerslyapuhsvhz" does not exist (create it now)
Where the super rich are buying homes - 24 Dec 2015 11:45
Tags:
[[html]]The United States is the top destination for those worth more than $30 million buying residential property valued at a million or more, according to a report from Wealth-X and Sotheby's International Reality. <br><br>Not only <a href="https://www.realestatebook.com/">https://www.realestatebook.com/</a> does America have more rich people than any other country, its stable government and high standard of living make it an attractive choice. Also, great colleges. <br><br>"Many [wealthy people's] children attend university in the United States," the report said. "For these families, the investment value of owning a property in the country is made even more attractive by the access it provides to educational opportunities." <br><br>Related: Even millionaires get depressed <br><br>New York is the leading city worldwide for wealthy residences, where the rich are attracted by the city's cosmopolitan feel and position as a financial hub, the report said. <br><br><img style="float:right;margin:10px;border:none;" src="http://mutienterprises.com/wp-content/uploads/2013/11/marketing-real-estate.jpg" width="368" /><br><br>Roughly 40% of rich buyers in New York work in finance, according to the report. Most foreign wealthy buyers in the city come from the United Kingdom. <br><br>London is the second most popular city for wealthy real estate buyers, and finance is also the top profession. Most foreign buyers in London come from India. <br><br>Rounding out the top five are Hong Kong, where the real estate industry is the main driver of wealth; Los Angeles, fueled by entertainment and San Francisco, driven by tech wealth. <br><br>At least half of these wealthy buyers use a mortgage to <a href="http://simsurbanoasis-by-guocoland.com">click here to investigate</a> purchase their property. The <a href="http://www.simsurbanoasis-by-guocoland.com">a knockout post</a> report noted that wealthy individuals tend to keep large amounts of cash <a href="http://www.themlsonline.com/seattle-real-estate/">http://www.themlsonline.com/seattle-real-estate/</a> on hand (roughly 25% of their net worth), primarily for use in businesses opportunities. Mortgages, especially in this low interest rate environment, keep more money available. <br><br>Females preferred high end real residential estate as an investment over males. Wealthy women held 16% of their net worth in real estate verses less than 10% for wealthy men. On average, 64% of a rich person's net wealth is held in business interests. <br><br>While cities — with their proximity to businesses centers — tended to dominate the list, the report also noted several hot spots that were popular for lifestyle reasons. In the United States, the top locations for vacation homes for the wealthy were Southampton, NY; Aspen, CO; Naples, FL; Greenwich, CT and Palm Beach, FL. <br><br>Top 10 cities for wealthy residences Rank<br><br>City<br><br>Most foreign buyers from<br><br>Top industry<br><br>1<br><br>New York<br><br>United Kingdom<br><br>Finance<br><br>2<br><br>London<br><br>India<br><br>Finance<br><br>3<br><br>Hong Kong<br><br>China<br><br>Real estate<br><br>4<br><br>Los Angeles<br><br>United Kingdom<br><br>Entertainment<br><br>5<br><br>San Francisco<br><br>U.K, India, Australia<br><br>Tech<br><br>6<br><br>Washington, D.C.<br><br>Domestic<br><br>Non-profit<br><br>7<br><br>Singapore<br><br>India, Indonesia, China<br><br>Real estate<br><br>8<br><br>Dallas<br><br>Domestic<br><br>Oil<br><br>9<br><br>Mumbai<br><br>Domestic<br><br>Industrial<br><br>10<br><br>Paris<br><br>China<br><br>Fashion<br><br>CNNMoney (New York) First published February 4, 2015: 10:30 AM ET <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/pgd6cCWEAXc&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/pgd6cCWEAXc&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>[[/html]] - Comments: 0
Real estate today: Older buyers, more bathrooms - 09 Dec 2015 23:49
Tags:
[[html]]Good news abounds: In August, new home sales are at their highest level since 2008. Homebuilder confidence is back to its best level in a decade and even mortgage applications are climbing again. <br><br>And data released Tuesday shows construction crews are starting on homes at the fastest pace since the recession. <br><br>Put all that together and the housing market is finally starting to be a real boost to the U.S. economy — and stock market — instead of a drag. <br><br>But today's real estate market is a very different place than before the recession. <br><br>American home buyers are getting older and homes are getting bigger. <br><br>Related: Warren Buffett's top stocks are dogs this year <br><br>The median age of a homebuyer has gone from 35 to 43 <br><br>The median age <a href="http://real-estate.lawyers.com/">http://real-estate.lawyers.com/</a> of a homebuyer in 1985 was 35. <br><br>When the housing boom was nearing its peak in 2005, the median homebuyer's age was 39. Now it's 43, according to U.S. Census data. <br><br>"We consistently tell that story of people delaying homeownership," says Skylar Olsen, senior economist at Zillow. "People are delaying things that pre-date homeownership — like getting married later and having children later." <br><br><img src="http://i2.cdn.turner.com/money/dam/assets/151020151336-homebuyers-median-age-780x439.jpg" width="780" height="439" alt="homebuyers median age" border="0" /> <br><br><img style="float:right;margin:10px;border:none;" src="http://naijainvestment.weebly.com/uploads/4/2/5/6/425690/1072388_orig.jpg" width="357" /><br><br>Homes are getting bigger <br><br>Homebuilders are catering to more middle aged buyers by building larger homes. <br><br>Since 2000, the typical American home for sale had about 1,800 square feet. That's remained fairly steady over time. <br><br>But new <a href="http://www.weichert.com/">http://www.weichert.com/</a> homes that are just being built typically have 2,200 square feet, according to an analysis by the National Association of Home Builders. Potential homebuyers say they want a place that is at least that <a href="http://simsurbanoasis-by-guocoland.com">http://simsurbanoasis-by-guocoland.com</a> large. <br><br>So what's going into all that extra space? <br><br>More bathrooms. <br><br>"Builders are adding more bathrooms. You want a little bit more privacy," says Olsen. <br><br>Multi-family homes are also booming as people buy homes as investment properties to rent out. In the late 1980s, people would rent for four years before purchasing their first home. Now it's at least six years. <br><br>Large homes often translate to more money for builders. No wonder the stock market funds that track homebuilders are soaring this year. <br><br>The iShares U.S. Home Construction ETF (ITB), SPDR S&P Homebuilders ETF (XHB) and iShares Residential Real Estate Capped ETF (REZ) are all up about 6% or more in 2015. That's much better than the overall stock market, which is negative for the year. <br><br>Related: No one believes China's growth, but… <br><br>Student debt doesn't explain housing trends <br><br>The other common explanation for this big shift in American real estate is that young people have too much debt to buy homes, especially from student loans. <br><br>But economists at Zillow took a look at the probability that someone would buy a home if they have zero debt all the way up to $50,000 in student loans. <br><br>They found that higher student debt had almost no impact on the decision to buy a home. <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/J1MshsbargU&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/J1MshsbargU&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br><img src="http://e-papyrus.com/wp-content/uploads/2015/01/Real_Estate_Investment1.jpg" width="324" /><br><br>Banks were very willing to lend to young people who had bachelor's degree or higher, a recognition that these people would be likely to earn good salaries and pay off their loans. <br><br>The one exception was people who earned only an associate's degree. There was a 75% chance of buying a home if they had no student debt. <br><br>But that fell to less than 60% chance of purchasing property if they had $50,000 in loans. <br><br>It's an economic reality that workers with at least a bachelor's degree now earn about $65,000 on average a year, compared to less than $50,000 a year for those with only an associate's degree. <br><br>Related: Great Depression: 170,000 incredible images now online <br><br>CNNMoney (New York) First published October 21, 2015: 5:12 AM ET <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/fu1sYC3gLx0&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/fu1sYC3gLx0&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>[[/html]] - Comments: 0
Why Hire a Real Estate Advisor? - 07 Dec 2015 09:19
Tags:
[[html]]Dubai is a city where the Real Estate Industry is full of endless opportunities and great possibilities. In reality, the competition is tough and the Real Estate Market is a Jungle. Therefore, when you are trying to either sale or lease, the best advice is for you to seek assistance from a Certified Real Estate Agent. Although there are certain people who are qualified enough to sell their own home, the reality is, answering a lot of questions that comes with the process is not as simple as it may seem and sometimes there are difficult situations that calls for the help of a professional. Some people have the mentality that they will be able to save up more money by doing the buying or the selling process by themselves not knowing that it can end up more costly than paying for an Agents commission.<br><br>Most people do not have any problems on getting help from Real Estate Companies and getting assistance from a Real Estate Agent, but let us try and answer the most common question, Why? Well, I have a few points to discuss.<br><br>The professionals know everything better<br><br>Certified Real Estate Agents are professionals in this industry and they are very knowledgeable on how the Real Estate Market works. The Agents studies the real estate market very well and they can get <a href="https://www.realestatebook.com/">https://www.realestatebook.com/</a> you good investors with big offers for your property. They have easy access to the listing of other agents and they have further connections in the market. They already have a good picture of how the competitors work and how to outdo them.<br><br>Save yourself from too much frustration<br><br>If youre planning to sell or lease your property and thinking of doing this solo-flight, you will need to spend so much time and effort on the phone, calling people that may or may not be of good potential. Too much of your precious time can be wasted for calls you make to people that may or may not be serious on your property. This will only prolong everything and will not help get your property sold or rented in the fastest possible way. For Agents, on the other hand, they know many people and many fellow agents. It is much easier for them to find the right individuals to deal with, thus, making the process easier and faster.<br><br><img src="http://www.financialgazette.co.zw/wp-content/uploads/RealEstate1.jpg" width="261" /><br><br>Selling or leasing a property <a href="http://www.trulia.com/NY/New_York/">http://www.trulia.com/NY/New_York/</a> needs full attention<br><br>Most often than not, your time is divided into tiny fragments to accommodate many things that needs to be done on a daily basis.When youre selling or leasing your own property, you are adding more weight to your already heavy schedule. You might end up missing <a href="http://botaniqueatbartley-uolgroup.com/botanique-at-bartley-location/">news</a> leads and lose many opportunities because potential buyers are very likely to move on if you fail to respond quickly enough when you are busy. As for Real Estate Agents, they can arrange viewings and meet up clients on your behalf. They are focused on the buying and selling process and are very reachable at all times.<br><br>The Agents will do the advertising for you<br><br>As part of their job, the Agents can get your property listed and advertised to various portals making it available for many people across the Internet. The plus point is that they can update the advertisement for you and can easily get your property sold or rented. This <a href="http://botaniqueatbartley-uolgroup.com/going-green-the-benefits-of-having-eco-friendly-real-estate-infrastructures/">get redirected here</a> is the same case when you are trying to buy or rent. They can get you the ideal property that you are looking for and can negotiate for a reasonable price that are favorable for both parties. See? Agents can save you from a lot of trouble and stress (both physical and emotional!).<br><br>Negotiations can be complicated<br><br>The Agents know what the best and the most effective strategies are and how it should be played. Real Estate is a very tricky business. It is so complex that one must have a deep understanding of how things really work. Many people might think that direct negotiation between the seller and the buyer is better since both parties can easily take care of their interests. I must say this is true IF both parties are reasonable people and can easily get along. But, this is not always the case; there are times that the relationship is not easy. If you have an agent, he/she can easily relay your concerns to the other party without the risk of you insulting the other. In tough transactions, the agent can speak for you, keeping things according to business and stir clear from becoming personal. So, it will always be wise to have a middleman to do the negotiations.<br><br>Contracts and other documents are too much to handle<br><br>The Real Estate Agent can take care of all the contracts and the terms that are needed in closing a deal. As mentioned above, the real estate industry is very complex. In Dubai, there are many laws that you need to watch out for. As an added caution, it would be wise to leave all of it to your agent. In that way, you and the other party will be protected from conflicts that may arise. The agent can help you be familiarized about your rights and your responsibilities (and can do all the paperwork!).<br><br>There might be many more reasons as to Why but the bottom line is, when you find yourself in a tight situation it would really be an advantage to have a Certified Real Estate Agent on your side.<br><br>[[/html]] - Comments: 0
Soaring prices hike Auckland real estate agent commissions - 17 Nov 2015 07:58
Tags:
[[html]]Last updated05:00, November 15 2015 <br><br><img alt="Ponsonby-based real estate agent George Damiris is making better money in real estate than his previous career in the building industry." title="" src="http://www.stuff.co.nz/content/dam/images/1/8/2/o/o/o/image.related.StuffLandscapeSixteenByNine.620x349.181mdu.png/1447614876957.jpg" class="photoborder"/><br><br>PETER MEECHAM/FAIRFAX NZ <br><br>Ponsonby-based real estate agent George Damiris is making better money in real estate than his previous career in the building industry.<br><br>Some Auckland estate agents are enjoying million dollar salaries thanks to a 44 per cent pay rise in five years.<br><br>The wage hike has been achieved without them having to do any extra work, official figures reveal.<br><br>Agents are cashing in because the city's house prices have soared, while the commission structure, which pays out a percentage of the property value to sales staff, has stayed the same.<br><br><img alt="Erika Blank hopes her new real estate career will pay dividends eventually." title="" src="http://www.stuff.co.nz/content/dam/images/1/8/2/o/n/4/image.related.StuffLandscapeSixteenByNine.620x349.181mdu.png/1447614876957.jpg" class="photoborder"/> <br><br>Erika Blank hopes her new real estate career will pay dividends eventually.<br><br>Real Estate Institute of New Zealand data shows that in 2010, vendors would pay around $18,000 dollars to real estate agents, based on a median selling price of $450,000.<br><br>But last month, a seller of a median-priced $750,000 house would pay $23,978 in commission if they sold with Barfoot and Thompson, the city's biggest real estate agency, or $26,767 on average if they sold with any of the other major firms - an increase of just under 50 per cent.<br><br>Commission can be split between the salesperson who lists the property and the one who sells it but in most cases, it is the same person who does both.<br><br>It means around two-dozen high-performing salespeople, mostly in Auckland, are now thought to earn more than $1.5 million a year, includingYvonne Wang, Matty Maand Gary Wallace.<br><br>Real estate agencies once published information about their top performers' sales figures but have since stopped.<br><br><img src="http://www.realestatesarasota.net/images/real_estate5.jpg" width="333" /><br><br>Wallace sold more than $800 million worth of property in 10 years, which would convert to a conservative estimate of $16 million in commission for him over that time.<br><br>Ma boasts of $500 million in sales in 13 years in the market - but that was before prices started to really heat up in Auckland.<br><br>This week she said she was not allowed to disclose her income, but she was the biggest commission-earner in Harcourts over the past year.<br><br>"I have been busy but good salespeople should be able to deal with any market," she said.<br><br>The way commission works means that a new agent who sold a median-priced house last month, would have pocketed about $12,000 for the deal, compared to $8000 five years ago.<br><br>Auckland's median selling time is 31 days.<br><br>Real estate salespeople are usually independent contractors who work on commission, contracted to a real estate office, which holds the agency.<br><br>Commission is usually set at about 4 per cent of the sale price up to about $300,000 and then 2 per cent over that..<br><br>Vendors also pay marketing fees, auctioneer's fees, and usually a fixed administration fee on top.<br><br>When a sale happens, the real estate franchise takes a cut of up to 10 per cent.<br><br>Commission is split between the salesperson and the agency. For new agents, the split is close to 50/50 but top real estate salespeople can command up to 75 per cent of the commission.<br><br>Graeme Fraser, head of agency operations at Ray White, said those who worked hard would be well-rewarded. "You can earn very good money, that would be heading towards that of a senior management person or better, but it depends what market you are in."<br><br>He said Ray White's elite sales people would bring in more than half-a-million in commission each year to their office. "But there's a hell of a lot involved in getting to that level."<br><br>Property commentator Olly Newland said the rates were now too high.<br><br>Vendors pay a greater percentage of the sale price to their salespeople in New Zealand than in many other countries.<br><br>Queensland is the only part of Australia with rates as high as New Zealand's.<br><br>Britain charges up to 2.5 per cent plus VAT and most marketing expenses are included. United States vendors pay up to 3 per cent commission although the use of buyers' agents there can make selling more expensive.<br><br>"They are getting two or three times as much as they were getting 10 years ago for the same effort. New Zealand has some of the highest commission rates in the world," Newland said.<br><br>Grant Wakelin, founder of flat-fee real estate firm 200square, agreed.<br><br>"If house prices go up, the agent gets paid more, completely independent of the effort, value or service they provide.<br><br>"The commission charged on the average Auckland property has increased 30 per cent in the past three years. nothing has changed for the agent in terms of the work required, the skills applied, technology used and value added. if anything, property has become faster and easier to sell over that time."<br><br>But Real Estate Institute chief executive Colleen Milne said it was hard to imagine a fairer system. She said vendors could discuss the details of the commission before they entered into a contract.<br><br>"At the time the listing contract, including the agreed fee structure, is signed neither the agent nor the vendor knows the timeframe in which the sale will be completed. This may occur quickly or the sale may not be achieved for weeks or months, or sometime not at all.<br><br>"If there is no sale, there is no commission fee; and if the vendor does not like the price being offered they can walk away. In such cases the agent bears the cost of work undertaken."<br><br>She said agents would offer specialist knowledge, experience, marketing skills and contacts.<br><br>It is estimated about 20 per cent of salespeople earn 80 per cent of the commission.<br><br>Even in Auckland, the 2546 sales last month was not enough for even half of the 5636 salespeople in the market to have sold a house each.<br><br>The 1257 agents operating across Canterbury and the West Coast sold 990 properties.<br><br>There are 11,683 salespeople operating around the country. Last month, 7838 homes sold in total.<br><br>Fraser said: "There's no way it's an easy job. People come in and don't make a sale and leave. They don't have the skills to build relationships <a href="http://www.simsurbanoasis-by-guocoland.com">http://www.simsurbanoasis-by-guocoland.com</a> with potential and future clients, or can't cope with the long and varied hours."<br><br>George Damiris<br><br>Ponsonby real estate salesman George Damiris has been able to make the most of a soaring inner-city market.<br><br>He traded the building industry for real estate four years ago and hasn't looked back..<br><br>"It took a year before I had to stop worrying if I was going to get paid every month," he said. "This year has been by far the best in terms, in terms of the financial year, and we are only half-way through it."<br><br>The key was getting repeat business, he said, with people seeking him out from referrals.<br><br>The flexibility fo the job suits his young family. Now it is paying so well he could not imagine going back to a salaried role.<br><br>"On a nice sunny day when I'm wearing a suit and sweating in a negotiation I'm not enjoying I think I wouldn't mind being up a scaffold, but going back to building simply would't pay me enough."<br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/vOfGaWFC5Fw&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/vOfGaWFC5Fw&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>Last month, he sold eight properties including apartments around Wynyard Quarter. "I haven't earnt a million dollars in a year yet but maybe I'll get there one day."<br><br>Erika Blank<br><br>Erika Blank, a salesperson for Bayleys in Whangarei, has just started as a real estate agent, but is still waiting for her first sale and hasn't yet earned a cent from the property frenzy.<br><br>After setting up a couple of months ago, she works about 30 hours a week, including evenings and weekends.<br><br>But she has recently signed up her first listings.<br><br>She said: "It's not something you cannecessarilyget into and overnight start making all this amazing money. I'm in it for thelong runand it's going really well, but it's definitely something you have to be able to look at down the track because it's about building people's trust. Reputation is created through word-of-mouth."<br><br>Blank is not worried she has had to take a pay hit to make the change. She said she <a href="http://www.longandfoster.com/">http://www.longandfoster.com/</a> hoped to soon be earning an income that was equal to what she had earnt previously as a personal banker, and then to beat it.<br><br>"Buying and selling a house is a big step in people's lives. I am working on getting them to know I am someone they can deal with, that they can trust, and who has the skills required to make the most of it for them.<br><br>"If i can do that, it is really great."<br><br>-Stuff <br><br>[[/html]] - Comments: 0
TRID Rules Prompt Changes To Mass. Standard Form Purchase and Sale Agreement - 08 Nov 2015 21:44
Tags:
[[html]]<img class="alignright wp-image-6827" src="http://massrealestatelawblog.com/wp-content/uploads/sites/9/2015/07/TRID-1.png" alt="TRID-1" width="351" height="195" />MAR and GBREB Release New TRID Addendum In Advance Of Oct. 3 Start Date<br><br>In anticipation of the upcoming October 3 start date for the new CFPB-TRID Rules (TILA-RESPA Integrated Disclosure), the Massachusetts Association of Realtorsis advocating that several changes in existing practice be adopted as part of the MAR standard form purchase and sale agreement between buyer and seller. The changes, incorporated into a new Integrated Disclosure Addendum-Mortgage(embedded below and available to all MAR members by clicking here), will account for the risk of potential delays resulting <a href="http://www.longandfoster.com/">http://www.longandfoster.com/</a> from the new TRID rules, as well as impose a requirement on all parties to expedite providinginformation necessary to generate the new Closing Disclosure. For a comprehensive review of the TRID rules, click here.<br><br>Under TRID, there will be a new settlement statement called a Closing Disclosure, whichmust be issued to the borrower at least3 days prior to closing. If that does not occur, the closing will be delayed for up to 7 days. Lenders arerequiring that the information contained in the Closing Disclosure (fees, closing costs, taxes, insurance, escrows, credits, etc.)be finalized no less than 7-14 days <a href="http://simsurbanoasis-by-guocoland.com">http://simsurbanoasis-by-guocoland.com</a> prior to closing, to give them enough time to generate the new Closing Disclosure in a timely fashion.As with any major regulatory change such as this, we can expect delays and speed bumps for closings occurring after Oct. 3.<br><br>The new MAR Addendum attempts to allocate risk and responsibility by providing that:<br><br><img src="http://1.bp.blogspot.com/-0Y6zD9D_xXo/Tn0L9tx7gAI/AAAAAAAADKI/HcWWOLqcmIs/s1600/RealEstate_cover+art.jpg" width="329" /><br><br>The buyer provides the seller with the name of the lenders attorney as soon as practicable and no less than 14 days prior to closingNo fewer than 7 days prior to closing, the Seller and Buyer must provide all adjustments and figures (water/sewer, condo fees, taxes, oil in tank, etc.) necessary to prepare the Closing Disclosure. *I would change this to 14-20 days prior to closing.The closing can be extended up to 3 business days in case of a TRID related delay. *I would change this to 8 days.No party can sue each other for TRID related delays<br><br>Practice Pointer: I do not think the MAR form goes far enough to account for the potential delays arising out of TRID. For example, if the lender does not use e-sign technology the Closing Disclosure would have to be mailed, and the closing would be delayed for 7 days, not 3 days. Moreover, lenders are advising me that they want all Closing Disclosure information in by 20 days pre-closing, so they can turn around the loan commitment and <a href="http://www.simsurbanoasis-by-guocoland.com">http://www.simsurbanoasis-by-guocoland.com</a> Closing Disclosure at the same time and have a buffer in case of last minute changes. Most importantly, please use some form of TRID addendum to your Offers. Do not wait for the P&S.<br><br>Please click here for my customized TRID Addendum and TRID Offer Timeline<br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/jAni7SUH754&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/jAni7SUH754&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>Note that the Greater Boston Real Estate Board standard form purchase and sale agreement is still in wide use. The GBREBhas released their own version of the TRID rider, available here.<br><br>Integrated Disclosure Addendum (c) 2015 Watermark by Richard Vetstein<br><br>Tagged as:Mass. TRID addendum rider, Massachusetts standard form purchase and sale agreement, TRID, TRID contract rider addendum, TRID Rules<br><br>[[/html]] - Comments: 0
Real Estate Investment Analysis Software by Kim Charles Petty - 04 Nov 2015 08:59
Tags:
[[html]]Investing in Real estate is acquiring an increasingly critical profile with advancement in technology. Like other businesses all aspects of real estate investing also have become technology oriented and complicated. You may find handling day-to-day operations quite stressful and difficult to handle without obtaining expert support. The easiest way to cope with such a situation is to use real estate investment analysis software.<br><br>The software is user friendly and will prove to be the ideal option to manage your high profit ventures in real estate investing. To make it easier for you to handle the software, a detailed user manual and a CD are provided along with it. This will let <a href="http://www.highlineresidences-condo.info/">have a peek at these guys</a> you clearly comprehend the application and procedure for using the software. <br><br>The software consists of many features that are of immense use to committed real estate investors, brokers, real estate agents and developers. It allows quick and easy real estate investment analysis presentation for individual investors that help them in understanding implications of their investment moves and lets them make an informed decision on real estate investing. <br><br>There are many companies that sell real estate analysis software. Good quality software is a powerful tool that will let you determine your return on investment and analyze cash flows. It provides a near accurate estimate of future wealth/net worth and allows comparing multiple income properties through an executive summary. Using an executive summary you can run assumptions against different income generating properties and then make a comparison of the financial data derived through the executive summary to determine the property that will give the highest return. This caters to systematically building wealth through your real estate investments by making quick and better-informed decisions. <br><br>This user friendly software is available for all types of real estate like apartment buildings, single family rental housing, office buildings, industrial properties, ware houses and mini warehouses, commercial buildings etc. The software will help you generate all types of related financial reports like income statements, cash flow statement, rent roll, mortgage and equity, sensitivity analysis, executive summary, operating expenses etc. It can also let you have a breakdown of operating expenses in the form of expense item amount expressed as a percentage of total operating expenses and a percentage of effective gross income as well. <br><br>Real estate investing analysis software provides you with the flexibility of entering 2/3 mortgages on a one property to let you make a mortgage analysis of your investment real estate. It can take into account interest only mortgages, fully amortized mortgages, one future mortgage or refinancing, interest only mortgage with balloon payments, fully amortized mortgage with balloon payments etc. <br><br>You must look for real estate investing software that allows powerful sensitivity analysis by incorporating variations in purchase price, loan interest rate, appreciation growth rate, income growth rate, expense growth rate, vacancy rate and reinvestment rate of return. <br><br>In the real estate business you may come across terms that may appear to be complicated or confusing. Good real estate investment analysis software will invariably include an encyclopedia to help you out with this. It will clarify and help you understand the various real estate terms as well as its principles, concepts, practices and calculations with explanations to financial indicators like return, cap rate, IRR, GRM, DCR, DSR etc. <br><br><img src="http://1.bp.blogspot.com/-0Y6zD9D_xXo/Tn0L9tx7gAI/AAAAAAAADKI/HcWWOLqcmIs/s1600/RealEstate_cover+art.jpg" width="298" /><br><br>[[/html]] - Comments: 0
The 7 Tips Entrepreneurs Need to Know Before Investing in Real Estate - 21 Oct 2015 12:12
Tags:
[[html]]<img src="http://samingersoll.com/wp-content/uploads/2011/06/Real-Estate.jpg" width="363" /><br><br>Why should entrepreneurs invest in the first place? The <a href="http://newlaunch.propertynewssingapore.com/botanique-bartley-d19/">botanique at bartley</a> answer is: to have enough money to live on when we no longer can or wish to work. To put that money aside, however, we have to accumulate enough to offset inflation and the taxes that erode our savings. And for that purpose, real estate is an excellent solution.<br><br>Related: 4 Business Principles Learned Getting Rich in Real Estate by Age 30<br><br>The great thing about real estate is that even in a bad economy, it will usually fare better than stocks. Land, after all, is a finite resource. People need a place to live, work, shop and play — so real estate is really just a matter of supply and demand. <br><br><img src="http://turnercoloradohomes.com/wp-content/uploads/2012/07/Douglas-County-Real-Estate.jpg" width="320" /><br><br>What's more, real estate will continue to appreciate despite occasional slow-downs in the economy. In fact, it's proven to be the best way to create wealth, and an investor need not be a genius or a millionaire to succeed. Here are some tips, then, for entrepreneurs on getting started and succeeding in real estate investing:<br><br>1. Do — plan your financial goals.<br><br>Before you buy that first property, or do your first analysis, determine what you expect from your investments. What are your financial goals? We often discuss the time vs. money concept: The more you have of one, the less you need of the other to reach your financial goals. This means that you shouldnt shy away from taking the time to understand your goals and make sure each investment is a step toward achieving them. If you are unsure exactly how to create financial goals, meeting with a financial advisor is an excellent first step. <br><br>2. Don't — spend a fortune on books, tapes and seminars, then just put all that information on a shelf. <br><br>You absolutely do need to learn some basics before venturing into investing. So, be sure to do some studying, but dont let buying and collecting information become your endgame. Again, having goals in mind will make the process much more straightforward. Its easy to get so tied up in the <a href="http://www.weichert.com/">http://www.weichert.com/</a> research phase that you never actually take action. Instead, write down specific questions you want answered or goals you want to meet before delving into the latest book/seminar/etc. <br><br>Related: How to Live Rent-Free While Building Your Business<br><br>3. Do — look at plenty of properties. <br><br>Dont just grab the first property you look at. Too many investors buy properties because they look nice, or the investors dont want to put the work in to look at whats really out there. Remember, you wont be living there, so dont make your investment decision based on your personal preferences. While you shouldnt fall into the trap of analysis paralysis, make sure you are thorough in looking through properties. Give yourself a wide range of options, then narrow them down based on the criteria (goals) you have set for yourself.<br><br>4. Don't — postpone starting your investment program because youre waiting for that perfect unicorn deal.<br><br>Thats the flip side to number 3, of course. Plenty of beginning investors suffer from a-better-deal-may-be-just-around-the-corner syndrome. This can backfire in a big way, and you could potentially let a great deal slip just because youre holding out for something better. Your task may feel difficult if this is your first property, but you must realize that the perfect deal rarely (if ever) exists. Better to execute on a deal that meets most of your criteria than wait for another that may never come. <br><br>5. Do — a thorough financial analysis.<br><br>Be realistic. Look at different alternatives to determine which makes the most financial sense. And never buy property at a higher price or on less attractive terms than your analysis says made sense. Be wary of sellers that try to over-estimate the value of the property through pro-forma (estimated) data. While you can certainly use a pro-forma to start the conversation, make sure you know the real numbers before closing. Look at previous years tax returns, property-tax bills, maintenance records, etc. to get a good idea of the real income and expenses.<br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/xoGi7OKJNWk&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/xoGi7OKJNWk&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>The most important figures you should know are: <br><br>Net income (income/expenses) Cash flow (net income/debt financing payments) Return on investment (cash flow/investment) Cap rate (net income/property price) Cash-on-cash return (cash flow/investment) Total ROI (total return/investment)<br><br>In each case, investment refers to how much you invest in the property. "Debt financing" refers to any loans you may have to take out to buy the property. And "total return" refers to cash flow, equity accrual (i.e., equity gained from your tenants paying their rents), appreciation and taxes.<br><br>Once you have understood these figures, you should have enough information to determine whether or not acquiring the property fits with your financial goals.<br><br>6. Don't — try to buy property that the seller is not motivated to sell.<br><br>If the seller is motivated to sell, youre not likely to get the price best aligned with your financial goals. So, how do you know if a seller is motivated? Look at the asking price. For example, If the property has been on the market for a year for, say, $200,000, with little-to-no price reduction, the seller is clearly not very motivated to move the property. However, if that same property has been on the market for a year and has had its price moved down considerably, the seller most likely wants to do whatever it takes to get the property off his or her hands. Of course, this raises the question of how to find motivated sellers. There are many approaches, and not all of these will work for you, depending on what property you want. But a few trusted methods include: <br><br><object width="400" height="241"><param name="movie" value="http://www.youtube.com/v/fWpExOqtQwE&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/fWpExOqtQwE&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="241"></embed></object><br><br>Attending open houses Looking for vacant/unattractive properties that are for sale Spreading the word about yourself and what properties you are looking for — truly Going the old-fashioned route and looking in the classifieds of your local paper <br><br>These are just a few ways to find sellers, but there are potentially dozens of other methods, depending on what type of property youre looking for.<br><br>7. Do — know the difference between real estate investing and the business of real estate.<br><br>As an entrepreneur, you already have a business, and real estate investing is best used to support that business, not replace it — unless thats your intention. In other words, dont get so caught up in executing transactions that your core business falters. If that happens, youll be facing a bumpy road to get back to stability. Unless your business is itself real estate, or youre looking to get into the business full-time, always remember that pursuing these deals is a means to an end, not an end unto itself. <br><br>So, if youre interested in staying ahead of taxes and inflation while building security for the future, real estate investing may be for you. What are you waiting for?<br><br>Related: Detroit Is Beckoning to Tech Entrepreneurs<br><br>[[/html]] - Comments: 0
How Smart Is 'Flipping' Real Estate? - 20 Oct 2015 03:27
Tags:
[[html]]Though the temperature hit 100 degrees in Delray Beach, Fla., last summer, eager buyers lined up and waited outdoors for days.<br><br>Was it Springsteen tickets? A free tank of gas? Neither of these.<br><br>Watch "20/20" Friday night at 10 p.m. ET<br><br>The men and women waiting for this modern-day gold rush to begin were looking to buy condominiums in south Florida, a real estate market that over the past four years has become one of the hottest in America.<br><br>But is it overheated?<br><br>New Jersey native Jay Lutz didn't think so when he and his wife purchased a condo unit in Delray Beach's Pineapple Grove Village that he never planned to move into.<br><br>"We didn't get our first choice or our second choice, but <a href="http://newlaunch.propertynewssingapore.com/coco-palms-d18/">http://newlaunch.propertynewssingapore.com/coco-palms-d18/</a> we're pretty happy with what we got," Lutz said.<br><br>Like other buyers, the Lutz family was happy to spend $350,000 for a one-bedroom condo and up to $800,000 for a three-bedroom unit — only to resell those units immediately.<br><br>"If I can get a buyer and I can flip it right away, I'll do it," Lutz said.<br><br>"Flipping" in real estate lingo means buying and quickly reselling properties for big profits. In south Florida and other popular real estate markets, it got to the point where people were buying and flipping contracts on condos before they'd even been built.<br><br>Big Returns on Investments Seduce Buyers The preconstruction market in Miami has seen some of the highest investor returns in the United States. "People are seeing 2, 3, 400 percent returns on what they invest in a construction condo — over about a year," Mark Zilbert, a Miami real estate broker, said last year.<br><br>"What kind of drives the desirability in the Miami area is where the waterfront locations are," Zilbert said.<br><br>Zilbert estimates that at one point, up to 80 percent of condo purchases were purely speculative investments, made by people with no plans to ever live in one of the tens of thousands of new condos transforming the Miami skyline.<br><br>Though some people who bought in plush waterfront towers intended to move in, the profit potential became too tempting. That's what happened to condo owner Darryl Randall.<br><br>Showing the "20/20" crew around his condominium in downtown Miami Beach, Randall said, "This three-bedroom unit was purchased originally at $1.1 million, and right now we have it listed right at $1.8. Planned on staying here forever, but $700,000 is $700,000. And in a market like this, it's time to move up and move out."<br><br>But Randall's condo languished on the market for months. Then he sweetened the deal by throwing in all the furnishings and his $125,000 dollar Maserati. It worked.<br><br>"And the final selling price was $2.3 million," Randall said.<br><br>Despite the hefty sale price, having to throw in those enticing extras after the condo sat on the market for months may have been a sign that the south Florida real estate market was weakening.<br><br>And some speculative buyers were getting cold feet. Shortly after the Lutz family put a down payment on a new condo, they decided it was too pricey and got their money back.<br><br>A Sudden Change in the Climate All the little signs were adding up, and by last winter the Florida real estate market had taken a dramatic turn.<br><br>"It stopped, frozen. Selling investment property was very difficult," said realtor and investor Peter Celnicker.<br><br>Celnicker came to Florida as the market was soaring. After five years of savvy buying, he said that by last summer he was a millionaire — at least on paper.<br><br>Then, almost overnight, the market changed.<br><br>"I mean, it was really that quick. [It] went from an absolute seller's market where you could sell a property literally in 24 hours to a buyer's market where it can take three, four months to sell a property," Celnicker said.<br><br>Celnicker attributes the chill to higher interest rates and a punishing Florida hurricane season. But he and his investment partners had put some money aside, rented out all their properties, and weathered what they hope is the worst of it.<br><br>"I knew as long as I could ride out those first couple of months, then I'd be safe," Celnicker said.<br><br>There are a lot of unknowns today in south Florida real estate, where there's concern that words like "hot" and "flip" may soon be replaced with "chilly" and "stalled."<br><br>One reason: Experts now say Miami Beach has perhaps the most overvalued real estate in America.<br><br>"Construction costs have gone up, prices have gone up and so there is a point, we think, that buyers are reluctant to overpay for an apartment — especially when there's an oversupply," said Zilbert.<br><br>He remembers the moment he realized the market was changing.<br><br>"There was a day that I woke up at the launch of a new building, and I contacted my clients and I sent out my e-mails and I did my advertising, and not a single person wanted it. Not a single person showed up. And the feedback was, 'I think prices are gettin' outta control,'" Zilbert said.<br><br>But even in harder real estate times, Zilbert has a way to make money and, he said. He can bail out investors who may have gotten in too deep. His Web site, CondoFlip.com, can connect desperate sellers with "vultures," people who are ready to buy at a low price.<br><br>And he's recently added something called the panic button.<br><br>"The CondoFlip panic button gives the seller an option — push the panic button and then we have vultures lined up, and it's something that is going to probably happen more often than we would like to see. And people will lose some money," said Zilbert.<br><br>Celnicker agrees that desperation has hit the south Florida real estate market. "I think there's going to be a lot of desperate sellers," he said.<br><br>And speculative investors who bought into the high-priced, preconstruction condo market in south Florida may be in for a rough ride, Celnicker believes. But he won't be one of them because he bought low-end properties that can be rented to cover costs if there's a downturn in the real estate market.<br><br>"This is not a 'get rich quick' thing. This is a minimum two- to three-year investment. Real estate is a long-term investment vehicle, and you have to be prepared for contingencies. And if you are, then I think it's a very safe investment. But if you're just jumping in because your neighbor made $50,000, you could get stung," Celnicker said.<br><br>Buyers, Zilbert says, are becoming more cautious. "There's not a day that goes by that I don't take a buyer to a property he or she will find something he absolutely adores, wants to purchase it, but at the end of every conversation is, 'I think I'm going to wait six months and see what happens.'"<br><br>Some realtors say even if the "flipping" frenzy has cooled for some investment speculators, Florida's got an ace in the hole. It's still a place where people want to buy homes and condos they actually plan to live in.<br><br>"We have a thousand people moving to Florida every single day. Then add to that all the vacation, the second-home buyers from Europe and around the world," Zilbert said.<br><br>If you're ready to buy a south Florida residence right now, the market could be working in your favor.<br><br>Take those Delray Beach condos launched last summer. It turns out 40 percent of those units are still available, and some of the prices have dropped dramatically.<br><br>That's good news for new buyers, but not so good for those who paid $100,000 more just eight months ago.<br><br>But, after all, no one ever said buying real estate came without risks.<br><br>[[/html]] - Comments: 0