Ever heard of real estate auction overages? If not, you’ll be glad you read this article. Whether you’re a tax sale investor or a stay-at-home mom, the opportunity has never been greater to earn a lot of money finding and collecting real estate auction overages. But first – what are they?

For those not familiar with tax sale, if a person doesn’t pay their property taxes long enough, the property will eventually be auctioned off by the government in order to collect that back tax amount. real estate auction overages are created at tax sale when a bidder bids more for a property than the original, tax-delinquent owner owed. That overage amount is also sometimes called an overbid, or tax surplus funds.

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Steve Bentley is a high net-worth individual living in Los Angeles, CA. He has been making a good living for years running the family business that he inherited from his parents. Although, Steve considers himself to be a savvy investor, putting his earnings away in stocks, bonds, mutual funds, and the like, he feels that he needs to diversify his portfolio a little bit more. When the market went south in 2008, Steve’s returns on his investments did as well. After researching alternative investments, he has decided to get his feet wet in real estate. He knows a couple of people in the business and is aware of the potential returns of a successful development. He identified a parcel of vacant land near his home that he believes would be ideal to build a multi-family project on. Without really looking at any other properties or running any detailed financial projections on the development, he acquires the property.

Once the property acquisition is complete, Steve hires an Architect to design his vision. You see, Steve is under the impression that all he needs to complete this undertaking is an Architect and a General Contractor. The Architect is quick to alert him that there is much more needed for a project of this magnitude. Not only will he need his Architectural Services to design this 42-unit stick-frame condo structure over podium parking, but he will also need a Planning Consultant to get the project entitled through the governmental authorities; a Structural Engineer to design and engineer the structure; (more…)

As a young investor you may be more focused on the rise in capital value; whereas someone in their golden years can be more focused on generating income. Property is one asset class that does both, rising in value and generating income. It is often referred to as the “IDEAL” investment.

“IDEAL” is a simple acronym that highlights just some of the key benefits of owning real estate:

1. Income – One of the key benefits of property investment over many types of investments is its inherent ability to generate passive income. When investing in property the key thing is to focus on net income. Many real estate agents will quote gross yield figures i.e. the annual rent as a percentage of the property price. Whilst this is a reasonable indicator of your potential return on investment, I prefer to focus on net yield or net income. You absolutely must have net positive cash-flow otherwise you haven’t got an investment on your hands but a burdensome liability. The challenge in property investment is to minimise the down payment (which will maximise your mortgage) whilst at the same time generating positive cash flow each month.

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Las Vegas and the state may be changing from the nation’s foreclosure capital to the nations short sale capital say realtor Stuart Sheinfeld
Short sales averaged about 8% of total existing-home closings last year, but averaged 25% of the market by the end of the year and in early January
Short sales are becoming the trend as banks try to find ways to avoid letting homes go into foreclosure.
The most undervalued market is Las Vegas where homes sell for 41.4% below fair market.
The Ritz-Carlton Lake Las Vegas in Henderson will close its doors May 2.
Casino Monte Lago at Lake Las Vegas will close at midnight March 14. (more…)

So the cost for a barrel of light, sweet, crude oil is over $85 dollars today. That should tell us plenty about the economy, the housing industry, and the upcoming summer travel season. The issue is that as the price for a barrel of oil goes up, other industries slow down. Not to mention that the higher costs for a barrel of oil translate into the daily and weekly budget adjustments for the average American and it really causes people to change their lifestyles.

As the housing market languishes, even with the extended tax credits for first-time home buyers, people who don’t understand macroeconomics are struggling to understand why. This begs to ask the question, that if real unemployment is over 17%, job creation is dead in the water, oil is rising, new housing starts have all but started, how can those in the government expect people to actually buy a house? (more…)

There is a critical first step all new home buyers in Ontario must take when your new home is ready for occupancy, known as the Pre-Delivery Inspection or PDI. Much more than just a quick tour, the PDI represents the first opportunity for buyers to view their home in its completed state and thoroughly assess its condition.

All builders of new homes and condominiums in Ontario are required by Tarion Warranty Corporation to conduct a PDI with their customers prior to a home’s date of possession. Tarion is a private corporation that protects home buyers according to the terms of the Ontario New Home Warranties Plan Act, which requires that builders provide warranty coverage on every new home built in the province. (more…)