Here is the story of a Lake Norman area short sale that did not end the way we had all hoped.
In March of 2009 a distressed seller called us to help her through the short sale process. Having been down this road before, we agreed to guide her. We assisted her with getting bank approval to short sale the property and listed it for sale in March of 2009. During this period we marketed the home and had many offers come in only to be withdrawn after the buyers got tired of waiting. (more…)
If you are planning on selling your LA home, there are a few things that you can do. The most obvious would be to hire the services of a real estate agent who can find the right buyers for your house. However, there is another thing that you can do to ensure that people are made aware of your sale- use the internet.
By making use of the internet, it is possible for you to reach a much wider customer base as you are no longer simply restricted to only Americans. (more…)
Selling Spanish property direct to the Russian property buyer is no easy task but the Russian buyer has been one of the few who have not been adversely affected by the recession. This is a tricky market to sell into and has stumped most agents. Are new websites in Russian required. Are local agents required to resell. The most successful have been those who have translated their websites into Russian or employed Russian agents on the ground in the Russian property market.
Top tips on selling into the Russian Property Market
- Translate your website or join a listing website that translates its site into Russian.
- Be patient, it takes time.
- Employ a native Russian speaker to help with the language, there are a lot more around the UK and Ireland than previously.
- Russians tend to buy overseas property for ‘prestige’ reasons so the more expensive the property the more likely it may be sold.
- It may be a cliche but Russian buyers are supposed to buy more with their hearts than their heads so image is everything.
- security is highly important to Russian buyers so show photos of the alarms and grills and walls which might otherwise put UK and Irish buyers off.
- Russian buyers like to talk to the organ grinder not the monkey so engage personally as the seller ready to negotiate.
- Russian’s are wary of scams so be open and honest and try to build an honest relationship with the prospective buyer. (more…)
Let’s face it, an unsuccessful open house will never sell a home, and selling homes is the business we’re in. So why is it that so many agents have plenty of open houses, yet few buyers stop in and even fewer offers are left? The agent surely spent ample time staking signs in the ground, hanging flyers, drafting information packets and sitting in front of the sign in sheet waiting for prospective buyers.
So why is it that the agent is having difficulty generating business when his efforts are so great? I offer that no matter how much work one puts in, if the techniques being used are ineffective, one will never see results from his hard labor; the tools must fit the job in order for the work to be done. (more…)
Many people have been turning to real estate investing. Some hope that this could be the solution to their financial problems or debts. Some grabbed the opportunity of earning a profitable income. No matter what your reason is, the main concern right now is for you to be able to know how to get started.
Of course, you are aspiring to be a successful and great real estate investor. You may be even thinking on how you could get it on with your first deal. But, you should first know the basics. There are five important steps that you should remember to get started.
First and foremost, breathe. Make sure that you are relaxed, as this is the most important step. It is normal for beginners to feel nervous when they are trying to catch a deal. Believe it or not, the more intense you are, the lesser the chances that you will make a deal. With a relaxed mind, you will be able to better exercise your negotiation skills. Relaxing will help you think and focus your attention to the most important things that you need to know.
Are you relaxed right now? Good. Once you have your mind and body in one piece, increase your knowledge on the said field. Remember that without doing the first step, everything will not fall in their proper places. Concentrate and don’t cram too much. Go to a national library or find good real estate books. Don’t try to stuff all the information into your brain all at once.
(more…)
Home inspection is a very sensitive and sometimes thorny issue that can potentially make or unmake a real estate deal. The way you handle the home inspection will ultimately have an impact on the kind of real estate deal that you will get and the state of the home a few months afterwards.
Here are some important points that you must remember when handling home inspection:
1. There is no such thing as perfect home inspection
Even if you settle for a newly constructed home, the home inspector will most likely find some issues that need to be addressed. Finding faults and problems in the home is his responsibility and expertise. It comes as a big surprise, if they can’t find any problem with the home.
2. Set Realistic Goals and Expectations
Treat homes as work in progress. There will always be some aspects in the home that need repair or replacement. Expect that there will be some surprises here and there. You must learn to recognize these issues and problems and assess their implications. If you are intending to purchase a Victorian Home, don’t expect to find the insulation, wiring and plumbing in tiptop shape. Chances are they are not compliant with current standards and building codes. Those that were considered excellent some 30 years ago may not meet the current requirements and standards for homes.
(more…)
Most economic experts and market analysts are predicting relatively strong economic prospects for Canada as leading indicators show early signs of positive performance. This positive shift is mainly market driven. Low interest rates have been propping up demand despite lingering external pressures. As consumer confidence continues to grow, we are expecting a more robust real estate industry. Home prices will continue to rise as activities in real estate markets will continue to heat up. The market is expected to reach its equilibrium with the slow decline in affordability. This unfolding scenario is mainly due to higher price levels of homes and the anticipated increase in interest rates by the second half of the year.
Most real estate markets in Canada are riding at the crest of a strong finish last year. The lowering of borrowing cost has spurred consumers to buy. This has driven demand in most parts of last year. This vibrant atmosphere in most markets in Canada has pushed economic activity levels to a new high. The increasing demand, coupled by the seasonal dip in inventories in most real estate markets, will continue to push home prices up in the early part of this year. As soon as the market makes the adjustment and supply reaches normal levels, demand will ease since homeownership will be moderated by the increasing price levels.
(more…)
Many real estate buyers and sellers are wondering how the real estate market will fare in 2010. The predictions highlighted in this article would definitely help them. The real estate market predictions made here cover the wide region of the United States of America and Canada.
2010 Real estate market predictions
What should you expect from the real estate market in 2010? The sense prevailing among the experts is that the real estate market would start showing improvements throughout 2010. Given below are the reasons behind the projected improvement:
1. Recovering economy
2. Affordable mortgage rates
3. Dropped home values matching good deals
4. Decreased inventory due to value bargain seekers
5. No longer historic lows to the 30-year fixed rate mortgage
Though the economic condition is a long way from being labeled “healthy”, things are becoming gradually stable since 2008. There are high expectations of improvement in the real estate sector in 2010. Even though 2010 doesn’t offer all the solutions, which it certainly wouldn’t, it is probable that home values would become steadier and grow from the upsetting lows of the present time.
(more…)
The most important task for a property management company is collecting rent. So make sure to do anything in your power to have your clients put their monthly rent as their number one financial obligation. That means when they move in, it should be understood where the rent payments are to be sent, what date the rent is due by, and that late payments will not be acceptable. To impress this on them, call them, or send a correspondence a week before the first month’s payment is due as to how much is to be paid, where to make the payment, and the last day they can make the payment without incurring a late fee.
Make rent payment as easy as possible for the tenant. Besides a mailing address, they should also have a place where they can drop of payment. Many times clients might want to pay with cash, and being that it’s a bit of a hassle to get a money order, stamp etc, they miss the payment deadline. Then, they spend the cash on something else, and to whole problem gets started. Some landlords even have websites to accept credit card payments. It could run 2.9% or so in credit card fees, but they might wind up better off because they have less tenants falling behind, and less legal fees in the case of eviction. Another overlooked simple tip. Self addressed envelopes that are already stamped. Even if you saved only one or two tenants from falling behind, it’s a worthwhile investment.
(more…)
Want to have your own property but cannot decide if this is a good investment or not? No worries. Property owners have been there and done that too. Let us face it, choosing what kind of business to get into is not an overnight decision.
People say that investing in a property is a wealth-building endeavor. It is true. Having a hour or home is a necessity and it will always be for years to come.
In Tampa, Florida for example. More and more people have moved in that location not only to start a business but to relocate the whole family. No doubt that it is a great location for settlement. Big businesses and nice environment. Perfect to raise kids and earn a living.
When deciding to buy a property in Tampa, take note of a couple of things. These things might help you make the right decision and finally decide to enter into this business with no fear and reservation.
To start off, make sure you know your goals for your real estate investment. Is it long term? When you are thinking long term, you should also think of other expenses that you have to extract for property maintenance and improvement.
(more…)
