Many people are suffering with crushing mortgage payments all around the country. States such as California, Nevada and Florida are really struggling. With high unemployment and the potential for it to grow even more, and suddenly higher mortgage payments due, consumers are trying to learn more about all of their options to see if there’s something that can be done to help them out.

There are some options for consumers that they can look at. Some are drastic; some might end up being pipe dreams. But at least there are options.

The first option is to try to short sell your home. Short selling means you’re willing to sell your home for less money than it’s worth. As home prices have gone down, it has brought property values down also. A high number of people are suddenly paying more for a house than it’s worth. If they need to get out from under the high payments, and can’t sell the house for what it was initially worth, they may be willing to take a financial hit just to get out from under it. (more…)

Do you treat your business like a business or do you play the “service role”? Although it might not seem like a very big difference this small change in perspective can influence some major decisions and be the difference between earning a decent living to an extraordinary one.

I have the privilege of working with many professionals at the top of their game. They all share this common trait. In particular I built a coaching company with one financial professional who decisions to always view the “service” that he provided as an independent professional as a business allowed him to take the necessary steps to building a highly automated coaching program with me, that kicked off an excess of $50,000 per MONTH in less than 4 years time. The best part was that due to the ability to make “big picture” decisions the operating costs were almost non-existent. (more…)

Delhi property investment is a fruitful option if viewed from any angle. The significance of Delhi is ever on the increase. Apart form the sole significance of being the national capital, Delhi is the centre point of the surrounding National Capital Region (NCR) which has unique commercial and industrial importance. Further, the elevation of the erstwhile Union Territory to the National Capital Territory with the status of a state has further increased the value of property in Delhi. The metro rail network and similar other infrastructural development activities have enhanced the real estate value in the national capital. More so, Delhi is rated the best educational centre in India with a cluster of premium educational institutions. Also, being the national capital, hosts of central government offices and their employees need space and accommodation. All these collective factors contribute to the galloping appreciation to the Delhi properties. Both commercial and residential properties are showing a consistent value addition in the region.

The proposed Commonwealth Games of 2010 is another cause for the increasing property value in Delhi. As preparations for the ensuing Games, infrastructural development activities are going on at multiple locations and this has added to the general value of the real estate in Delhi. In consequence, Delhi property investment is generally viewed as fruitful option. It is reported that for commercial properties in Delhi an average 20% to 25% annual appreciation in value is recorded. Another contributory reason for this real estate boom is the governmental fiat. The government of the National Capital Territory, Delhi has taken many positive policies and decisions beneficial to property owners in the capital. Laws have been amended to make property deals more transparent. Also efforts have been made to minimize official red-tape in property registration and related procedures. (more…)

Don’t you hate it when it rains inside the house? It brings a new meaning to the saying when it rains it pours. It’s not a good situation. Of course this normally doesn’t happen but if it happens perhaps it’s time to check the state of your house with a thorough home inspection. And if you are buying a house you certainly don’t want to move into a house and find out later that there are issues with the roof.

For the unfortunate, they can probably relate to the situation where pails and buckets have to be set beside leaky ceilings and even dangerously wet sockets and receptacles. This can happen whether your place is old or new. An improperly installed roof can have problems quickly. And in older residences, leaves fill up the gutters and everything becomes clogged to the extent that no one is spared from the onslaught of the downpour. These issues however, can be assessed at the onset and possibly even prevented through a relatively simple home inspection. (more…)

Appraisals are art, not science. While appraisers are well trained professionals, their opinions are really just that, “opinions.” As I’ve said before, the buyer decides the value, no one else. Many a person has been duped by unscrupulous sellers using doctored appraisals to support inflated values. Beware of this and make sure that you do some independent research.

However, since someone has to put a finger on value for lenders, we have to look to the appraiser’s opinion for an idea of what the value is. There are three main types of appraisal methods: cost approach, sales approach, and income approach (my favorite). (more…)

Okay, the real estate market has gone down and a quick rebound is not likely, or possible. Homeowners are finding viable options to continue to make money in the real estate market despite the recent changes. By adapting to the environment, savvy real estate investors are still flipping home properties with a twist. They are purchasing lower cost single family houses in areas of great potential and updating them. However, rather than putting them on the market for sale right away, these flippers are becoming landlords, renting the property to keep building equity and pay the mortgages.

How long are these new landlords renting their flipped houses for? On average, the versatile businesses are renting as long as five years or as short as only two until they can find a home buyer. They are keeping the cash from the rented properties in the short term, but are banking on the idea that an improved real estate market in the future will help them get the profits they are aiming for years down the road. Of course, this type of stalled profitability attracts a limited number of former flippers, but it is an increasing option for home buyers investors. (more…)