4 Transportation Considerations For Your New Home

When most people are looking for a new home, they focus on things like price, home style and the type of home loan that they can get. While these are all very important considerations, it's also critical to take a close look at the location of the new home. Not only is it important to make sure that your new home is in a great neighborhood, it also needs to be in a good position in regards to transportation.

Whether you drive yourself to work or take public transportation, you need to be fully aware of the transportation options in a potential new home. You can ask your realtor in College Station, TX all about these considerations to get the answers that you need to make an informed purchase decision. Here are four of the things to ask your realtor if you're wondering about transportation at a new home.

1. What Is The Work Commute Like?

Let your realtor know where you work and what your schedule is like so that they can tell you about convenient routes to your workplace. Make sure to ask them about common traffic conditions and rush hour traffic if you will have to take a busy freeway or highway as part of your commute. You'll also want to know about the traffic conditions in your new neighborhood at the times you typically go to and come home from work.

If your realtor isn't sure about these traffic conditions, take a day off and drive through the neighborhood early in the morning and later in the evening to see what traffic is like at these times.

2. Is The Area Served By Public Transit?

If you regularly use public transportation, it's a good idea to ask your College Station realtor to find out if your new home will be conveniently located near public bus stops. Perhaps you are a one-car family but you are planning to look for a new job or have a child. If that's the case, then public transit can be a huge asset to you.

Even if you regularly drive, checking on public transportation is still a good idea. You never know when you might have a bout of car trouble and need to grab a public bus to make it to work on time.

3. Is The Home In A School Bus District?

If you have children or if you are planning to have them soon, you need to make sure that your new home is in the right school bus service area for the school district you want your child to attend. If you have your eye on a certain school district, the fact that your child can catch a bus to school is a big bonus for a particular address.

4. Is Walking Feasible?

Sometimes transportation isn't just about buses and cars. For example, you may want to know if your new neighborhood has light traffic to enable you to take a walk. You may also be interested to find out if the new home is within walking distance of useful places, such as parks or convenience stores.

Your realtor in College Station, TX can help you find out if a particular home will meet your transportation needs. 

Recession Real Estate Investing - The Short Sale

If you have been following the residential real estate market, you have probably already ascertained that the market has crashed.  Not  only crashed, but crashed and burned.  This is unfortunate for a lot of homeowners who can no longer afford to live in their homes.  Many are in the process of foreclosure because they cannot make the mortgage payments any longer. 

You can actually kill two birds with one stone by investing in these properties.  A home that is in foreclosure but not yet owned by the bank is called a short sale.  You can usually pick a home up like this for a fraction of the cost.  The owner, in most cases, just wants to be able to pay off the bank so that they do not have a foreclosure on their credit record.  A foreclosure can be devastating to credit and most people want to avoid this calamity. 

Finding short sale properties is not difficult in this economy.  You can either work with a real estate agent or you can do your own homework.  Foreclosures are a long process and is something that has to go through the court system.  A bank cannot just foreclose on an individual without getting a court order that gives them the title of the property.  Anything that goes through the court system is public record.  You can go up to your local county courthouse and find a list of properties that are in the process of foreclosure simply by looking on the court roll call.

Once you find a home in the process of foreclosure, you can then contact the owners and offer to buy the home.  You can find out how much the original mortgage was for the property through the county recorders office.  The mortgage and note are all recorded against the property.  This is a matter of public record.  If you have some knowledge of the real estate market as well and the current value of the properties in the area in which you are looking, you can find a real bargain.

You can find a home, for example, that is worth about $200,000 in which the owner is behind on a mortgage that is about $120,000.  You can offer to purchase the home for $130,000 and give the owner $10,000 in their pocket.  You can also offer to allow the original owner to stay in the house and rent it from you.  You will restructure the mortgage and make sure that you get a low rate.  You then have a home that is worth $200,000 for which you only owe a small portion and a renter who will, essentially, pay your mortgage. 

If the original owner buys the home back from you, they will have to do so under your terms.  You can then ask for the $200,000 when the market rebounds.  You have just made $70,000 profit in a few years, a much better yield than you can ever make in any other market investment. 

This may seem predatory, but you are really helping the original owner out.  If they are about to be evicted because they cannot pay their mortgage, you at the very least, buying them time and giving them a chance to get back on their feet.  If they cannot pay the rent to you, they will at least have had a bit more time to plan their move.  If they manage to buy the home back from you, it is a win win situation for everyone.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Tips On Making Money In Real Estate Today

If you are looking to get rich quick in the real estate market today, you are headed for disappointment.  The real estate market took a nosedive last year and has reached rock bottom.  Residential foreclosures are at an all time high and continue to grow. 

This does not mean that real estate investing is a poor idea.  To the contrary, now is the perfect time to invest in real estate.  Although the market is bad for sellers, it is excellent for buyers.  On top of that, the mortgage interest rates are lower than ever.  It is hard to imagine a better time than now to invest in real estate. 

Some tips on investing in real estate in the market today and how to make money are as follows:

Look for the long term investment.  Be prepared to hold onto the property for a few years until the market rebounds.

Look into renting property.  People always need a place to live.  You can rent your property to those who need a home and make money when you sell after the market regains its strength. 

Think about investing in commercial real estate.  Although residential markets are bad, the commercial market has remained stable.  You can invest in property such as strip malls and office buildings and still make money. 

Consider investing in vacant land.  Look for property in areas that are undeveloped.  You may find in a 10 years that your property is worth 10 times more than what it is today.  Think of the people who owned farmland in Orlando.  The property is now worth thousands of times more than original asking price.

Do not panic. This should be rule number one.  If you own a home, do not panic and sell.  This is how you lose money in real estate.  Hold onto your property and ride out the storm.  The market always rebounds. 

Consider new construction.  If you are able to act as a general contractor and build a home, there is money to be made.  New construction is always desired by most people as they like to be the first to live in a home.  If you are in the trades, consider building your own home.

Buy foreclosures.  Look at foreclosures that are on the market and that are owned by banks and mortgage lenders.  Put in a bid and do not be afraid to bid low.  There are thousands of foreclosures across the market, even in upscale neighborhoods.  This is where you can make some serious money if you buy low, hold onto the property for a while, and sell high.

Buying low and selling high is how you make a profit in any business and is no different in the real estate market.  The current market, however, does not make it possible to sell high.  There are more homes on the market than there are buyers.  Many of the buyers that are out there are foreign investors who can spot the opportunity of purchasing property in the United States at bargain basement rates.  Although this is not the market to sell high, it is definitely the market to buy low. 

 

6 Reasons Why You Should Buy Real Estate In December

December and New Year's Day give you the perfect occasion to buy real estate. Not only can you pick up a bargain property from a motivated seller, you can save on your purchase expenses. 

1.  Home shoppers put off looking for a home because of holiday decorating, shopping, and parties. Plus, the cold weather makes home buyers prefer to stay home; they wait for warm weather to buy real estate. Get the edge with little competition from other buyers. 

2.  Home sellers who didn't sell during the recent buying frenzy are worried that their home will not sell. Any seller offering their home for sale during the holiday season is motivated. 

3.  Real estate agents need to keep their momentum going and can't afford to take too much time off. When the agents aren't as busy, you get better service. Plus, they're more likely to take low offers seriously. Agents love investors ready to buy real estate during December. 

4.  Interest rates continue to creep up. Who knows what the rates will rise to next year? 

5.  Lenders threaten to tighten up qualifications next year. Last summer, loan officers were able to get through almost any loan. Today is your best shot to buy real estate and get a great rate with the easiest qualifications. 

6.  Appraisers need work. Too many individuals became real estate appraisers when there was too much work. It used to take a week or more to schedule an appraisal. We just ordered an appraisal and the appraiser wanted to come out the same afternoon! Also, appraisal fees cost less today than last month. 

Clear some time from your busy holiday schedule and go find a bargain house. Make many offers. You won't get this break for another year.

 Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

5 Useful Tips In Buying A House

Buying a house is a very serious matter that comes in to people’s lives. It is very risky to invest your money in buying just any house you find. You must have some guidelines that can help you decide which house is the best for you. Here are some: 

1.         Determine your rights 

When you are ready to buy your own house, be sure you understand your rights as a homebuyer. Knowing the process of buying a house prevents you from getting scammed. You can personally do your home work or seek for a knowledgeable person like a real estate agent or a broker. Make sure that the agent you hire is licensed and have a wide knowledge regarding the area. 

2.         Make sure you can afford it 

Your budget is really a big deal in buying your own house. What you want is different from what you need, so be practical. You don’t really need a big house if you’re just one person that travels everyday, right? Make sure that you make the best for your money. Seek help or ask for suggestions especially for those who have knowledge in real estate prices. If you can’t stay for at least a year, buying a house is inappropriate for you. You may save a whole lot more of money if you sell it urgently. 

3.         Make sure it fits your lifestyle 

Make your house a home. Be sure it really fits your way of life and you are comfortable with it. A good example of this is if you’re working in an office, a good place to find is near or in the vicinity of your office. If you love nature, a good place to find is outside the city with clean air, near parks, has a mountain view or near at the beach. Your personality really matters in finding a good house. Make sure to look at its suburbs first and try to gather some information about the area and its surroundings. Try also to consider the kind of neighbors you will have. 

4.         Consider your future plan 

If you’re newly married, you might to consider how many kids you want to have. You can assume the number of rooms or the home space you need. If you can afford a house that is near to a good school, it is better. School districts are more important to home buyers, therefore, it will increase your property values. 

5.         Be organized 

It is very important to make your document files organized and safe. Because it will prove that you own the house. It will help you a lot especially when it comes in paying your house payments (taxes and amortization).

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

5 Major Reasons Why You Should Buy A Home Instead Of Rent

There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages.  

About 10 years ago I had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.  

He and his wife told me that the biggest mistake they ever made was not to invest in buying a home.  In their retirement years, when their other retired friends were living in homes that were almost paid off and had appreciated greatly, Uncle Jim and his wife were using a huge portion of their limited retirement money to make expensive condo rent payments. They strongly cautioned me not to make the same mistake they had. 

Recent studies are showing that there are many benefits for both the owners and the community for owning your own home, including increased education for children, lower teen-age pregnancy rate and a higher lifetime annual income for children. Besides these, listed below are some of the primary advantages for owning your own house. 

1) More Stable Housing Costs

Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money. 

2) Tax Savings

Homeowners can be eligible for significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments are made up mostly of interest and taxes. 

3) Debt Consolidation

If you need to, you can refinance a mortgage loan to consolidate other debts (an opportunity you don't have if you are renting.) And the interest on this is also tax deductable. 

4) Equity

Instead of payments disappearing into someone else’s pocket, home owners are building equity in their own home. This is often one of a person's biggest investment assets.  Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement. 

5) It is yours!

When you own a home you are in control. You the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you. 

Even young people, like college students out on their own, can often benefit from home ownership. It puts them ahead of other young people their age financially by helping with their credit and giving them what is often an excellent investment. Often a college student buying a home will rent the rooms out, and his or her roommates end up making the payments for the house. When the student is ready to move on, her or she can sell the home (hopefully making a profit) or keep it as an investment and continue to rent it. 

Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn't for everyone. There are some disadvantages to homeownership that you should take into account. 

1) Increased Expenses

Your monthly expenses may increase, depending on your situation. Even if the monthly payments are the same, home owners still have to pay property taxes, all the utilities, and all the maintenance and upkeep costs for the home.  Often you need to supply appliances that were furnished with a rental. 

2) Decreased Freedom of Mobility

Homeowners can't move as easily as a renter who just has to give notice to the landlord. Selling a house can be a complex and time consuming process.  

3) Risk of Depreciation

In some areas with overinflated prices, there may be a risk that the house will depreciate instead of increase in value, if the prices go down. If you then sell the house, you may not get enough money from the home to pay back your mortgage, and you will still owe the mortgage company money. 

4) Possibility of Foreclosure

If for some reason you are unable to make your payments, you risk having the lender foreclose on your property. This can result in the loss of your home, any equity you have earned, and the loss of your good credit rating. 

When considering home ownership, you need to weight the advantages and disadvantages for yourself.  If you are like most people, you will find that homeownership is worth the risks and disadvantages.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

 

Budget For Closing Costs – Home Inspection And Title Fees

Purchasing a home is a euphoric event. Once escrow begins, the euphoria can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate. 

Budget for Closing Costs – Home Inspection and Title Fees

Closing costs simply refer to the fees associated with various things associated with the escrow process in a real estate transaction. In the excitement of having an offer accepted for your dream home, you can easily lose track of the fact you are going to need to have some serious cash on hand to pay them. Many people make the mistake of only assuming they need the down payment money, and have to rush around town trying to come up with money for the closing fees. 

If you are buying a home, you need to get a professional home inspection. Doing so can reveal potential problems with the home that you wouldn’t otherwise notice. Problems can include things such as rot, termites, water leaks and a bevy of other issues. The time to do this is during escrow. Of course, that means you are also going to have to pay for the inspection. Depending on the size of the property, home inspections can run a few hundred dollars up to a few thousand. Make sure you have money set aside for the fees. 

Title insurance is something you absolutely must purchase when you buy any real property, a home, building, land or whatever. Title insurance protects both you and your lender. Title insurance is just what it sounds like. A title company will research the title of the home and essentially guarantee that the title is good. This means the seller actually owns the title and has the right to sell it to you. The title company will also make sure there aren’t any liens on the homes or other things that will cause you problems. Depending on the price of the home, title insurance can run you a couple of hundred dollars or up into the thousands. Again, it is important to find out the cost and budget for it.

Title insurance and a home inspection are two things you should absolutely have when purchasing a home. Just make sure you budget for them.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

 

 

 

Being Comfortable With Your Home Purchase

Let's get down to brass tacks with the home buying process. You as a buyer are spending a lot of money and have the right to be comfortable and happy with your purchase right? Of course you do. So essentially the question is what needs to be done in order to ensure that this is so? Well, probably the most important things is communication. It's a good idea to remember that your realtor is there for more than simply helping with some contracts. Your realtor is your info source of information on anything that you might not know or be familiar with. The more you communicate with your realtor the smoother this process will be. 

Another way to ensure that you are completely happy with the home that you have bought is to never settle for anything less than what you need. This happens a lot when buyers are too eager to purchase quickly and in that quickness, things get overlooked. Remember that this is going to be your home, take the time to learn everything you can about the home in question. Does it have enough room for you and your family? Is there some extra room in case your family grows? Forward planning is an essential part of buying a home, and should never be overlooked. 

When everything is said and done you should be left feeling like you have made the most intelligent purchase of your life. You should also have a financial arrangement that fits your lifestyle and payment abilities. In order to make this happen you need to be in complete control of your financial life, you should have your credit completely sorted out and dealt with so that there are no bridges that have to be crossed in order to secure the necessary funds for the purchase. Follow the advice of your realtor and the process should be a lot more fun than it is stressful.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Before You Buy Your Apartment Complex…

Purchasing an apartment complex as an investment is a fantastic way to watch an asset single handedly generate thousands, even hundreds of thousands of dollars in a very short amount of time!

A popular investment strategy, especially for new investors, is to purchase a more run down, mismanaged apartment complex at high cap rates. The cap rate, or capitalization rate, is found by dividing the Net Operating Income by the Purchase Price. Properties that are low performing often sell their apartments at a higher cap rate because there is more of a risk associated with them.

These properties are in need of many changes in order to become a commercial property that is working at its maximum potential.

Before you purchase a large commercial apartment complex, you need to get certain information. This information is crucial to your assessment and evaluation of the property.

There are two states you need to understand regarding the property, the state it is in currently, and the state it will be in after you fix all the major problems.

When you first find or are introduced to a property, be sure to ask for the income and expense statements. A lot can be told from analyzing the numbers that are reported on a monthy, quarterly or yearly basis. You can even use them to see how the property has performed over time. You will be able to see gross rents, expenses, net operating income, and all the items in which income and expense fall under such as refrigerator rentals and pool maintenance, respectively. Use this tool as a way to project future income after raising rents, filling the vacancies, transferring all costs to the tenants, and making the community an overall enjoyable place to live.

You must know how many units are in the complex, and what condition they are in. You can see what condition they are in by checking a certain percentage of the total units and assume that most are in that condition. However, it is always better to check all the units so you know exactly what condition the apartments are in. This could be a basis for lowering the asking price if the units are in far worse condition than you originally thought.

The vacancy factor is an important one. When a property has many vacancies, like 20% and above, it is not performing well. If you can fill these vacancies, then your ability to turn the property around is much greater! You must view all working leases, and ask the current tenants to sign a paper to verify the leases that you were given by the owner or working manager. You would be surprised how many owners may try to decrease their vacancy factor by false leases, just to make their property more enticing. However, if you are fixing the property up, then the larger the vacancy, the more opportunity you have to increase value and find a profit!

In order to evaluate this property, you must divide the asking price by the number of units and see what the price is per unit. You can use this to compare other similar complexes in the area. You also want to know what they are charging as rent, and what type of leases the tenants have. If the rents are below market rents, then you have the ability to increase value there. If your tenants have a full service, or net-net lease, then you have an opportunity to change it to a triple net lease, where the tenants pay taxes, insurance and utilities. You can literally pass all the costs of running the apartment to the tenants. After all, they are the ones using the facilities. 

I am sure you can see the themes here. You want to identify areas where you can either increase or create value that was not there before. Be sure to get all the facts and numbers verified before you purchase your great investment. Be prepared to do some work to turn the place around. However, it will definitely pay off shortly when you use some simple tool, like increasing the rent and painting the exterior, making it a community where people want to live!

 Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Avoid Legal Battles Over Broker Commissions

Commissione agreements that spell out how brokers are paid typically use form documents.  The commission formula sometimes changes, but the terms and conditions usually stay the same.  Consequently standard terms and conditions of commission agreements are often ignored by brokers and owners once the agreement is signed.  Since the broker’s income is tied to the terms of those agreements, close attention to details are vital to all parties involved.
Recent lawsuits stemming from disputes over broker commissions reveal tough lessons about the importance of paying close attention to commission agreements.
A building owner in Detroit was forced to pay a commission because the original agreement did not contain an expiration or termination date.  The building owner argued that there are a number of key terms understood and agreed to prior to signing the agreement that were not contained in the final written agreement.  The judge overruled this argument stating that the contract was clear as written.
Judges and juries are not real estate professionals.  The term “procuring cause” may have a standard definition in the real estate business, but mean nothing to a juror.  All parties involved must make sure the language is clear.  A judge or jury will not rewrite a contract to save either party from a bad business decision.
Even after a favorable commission contract is successfully negotiated and written, it’s not OK to simply file it away.  Either party cannot claim they forgot about the agreement.
The lesson here is to carefully note important terms and conditions, especially those that relate to performance, compensation, and termination.
Legal disputes are not unique to any location.  Judges and juries nationwide are showing resistance to insert terms into commission contracts or allow parties to ignore the terms of a contract.  Recently there’s been an increase in the number of disputes.  Some have settled out of court, yet a fair number have gone to litigation.  This can be reversed through the efforts of brokers and owners who invest more time and effort putting together agreements and abiding by them. This is the best method of prevention.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Real Estate Scams - Conditioning

The conditioning process adopted by some agents is one reason for the bad reputation that real estate agents have in Australia. Conditioning has become part of the real estate market because many agents lie to property owners about the value of their property.
The Process
When valuing a property some real estate agents will quote a value in excess of the property’s true value in the belief that the owners will list their property with the agent that gives them the highest valuation.
A typical Australian real estate agent’s selling agreement will tie the property owner to that agent for 90-120 days. If the property is sold during this period the agent will earn their commission whatever the sale price.
Having secured the listing by over quoting the property’s value the agent knows that they must get the owner to accept a lower price for a sale to occur.
The conditioning process begins. The agent will ensure that plenty of "buyers" come to view the property; this activity is often interpreted by property owners as the agents earning their commission. However many of these buyers will have budgets below the asking price of the property, some may not even be buyers at all but friends of the agent!
The agent will start pointing out all the negative aspects of the home, talk of the market not being as strong as it was and giving feedback that the market feels that the property is over priced.
If the property owner elects to sell via auction the conditioning pressures are massively increased on auction day. Often the owner will be pressured into putting the property "on the market" despite the bidding being below the reserve price previously advised. Agents will claim that by putting the property on the market interested parties will raise their bids or even start bidding if they have not previously shown any interest. The logic for this argument is difficult to follow but one thing is certain, by putting the property on the market the real estate agent will get their commission
It is far easier for a real estate agent to persuade a vendor to accept a lower price than to extract a higher price from a buyer. The agent only has one party to focus on in the vendor but may have many buyers to try and convince. Through the listing agreement the vendor is tied to the real estate agent. Agents can treat vendors appallingly and the vendor has no option but to stay with that agent until the selling agreement expires. A buyer on the other hand can walk away at anytime.
The agent is typically entitled to their commission if the property is sold during the period of the sales agreement even if they have never met the purchaser. If the owner finds a buyer through their personal network the agent will still get their commission.
Unfortunately many agents who should be working for the vendor are in fact working for themselves.
 Conditioning damages the value of your property
The conditioning process is not just stressful but can damage the value of your property.
Initially many vendors are reluctant to lower their asking price from the valuation that the agent provided to secure the listing. If after a period of time the property has not sold the owner may agree to lower the asking price.
But by now the property will have become stale. Buyers will know that the property has been around for a while without selling and will wonder what might be wrong. The property will have earned the reputation of being a lemon and the vendors may need to accept a price lower than the property’s true value in order to make a sale.
Commission does not guarantee agents will work to achieve higher prices
Many real estate agents will claim that the commission system means that the agent’s goal and the vendor’s goal are aligned as a higher sale price results in more commission for the agent. Simple mathematics and common sense show that this is often not the case.
Assuming a typical commission rate of 3% an agent who works hard to achieve and extra $10,000 for the vendor will earn an extra $300 commission. Yes this is an incentive for the agent to get a higher price but there is a risk that by pushing for the higher price they may lose the sale altogether and no sale means no commission.
It is better for the agent to sell the property at a lower price and move on to the next property than to invest the time in trying to achieve a higher price for the vendor.
For the vendor however the extra $10,000 is well worth the effort! The rate of return that the vendor receives for this extra effort is even more apparent when we consider the amount as an increase on equity rather than as an increase on the value of the property. Given that many homeowners do not own their home outright but with the assistance of a mortgage the repayment of the mortgage will reduce their proceeds from the sale.
For example a couple may be looking to sell their $300,000 property on which they owe $250,000 to their mortgage company. The equity that the couple have in the property is $50,000. If the property is sold for $10,000 less than it’s true value the couple’s equity has been reduced by 20%.
Poor performance from a financial adviser that reduced your investment return by 20% would be seen as unacceptable, but all too often real estate agents are able to get away with this kind of activity.
How to avoid being conditioned
By choosing to sell your home privately and having your property valued by a professional valuer you avoid the stress of conditioning.
Professional valuers have no incentive to inflate the value of your property as they earn an agreed fee irrespective of the valuation that they place on the property.

1.       Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Real Estate Research By Talking

Real estate research might start with a look at the U.S. Census information about a town. It can include inspections of specific properties, too. There are many statical tools and information that can help, but don't forget one of the easiest and most useful research tools: talking. Let me explain with a true story.
My wife and I were on vacation, and stopped in Farmington, New Mexico for a few days. We were about to buy a house for a winter project. The plan was to fix it up and sell it in the spring for a profit.
Just prior to making an offer, we took a last walk-through. As the owner showed me around, my wife started to talk to the woman who was renting the home. She told Ana that half of the outlets in the home didn't work, as well as other useful information.
This got me thinking, and I went down to the basement for a second look at the wiring. Not only did the house likely need all new wiring, but I found a garden hose attached to a natural gas line. The owner shrugged and said, "You can just cut that off."
To this day, I don't know what that was about, but for these and other reasons, we didn't buy the house. It helps to talk to anyone you can when looking at a house or other real estate investment. Neighbors and renters are especially helpful.
Real Estate Research - Choosing a City
Talking to a lot of people isn't just useful for information on individual properties. It is also a great way to research a town. I once called the  Chamber of Commerce of Deming, New Mexico. The chairman's casually commented that the city was using up the water faster than the aquifer was being replenished. They had no back-up plan. This was enough for us to cross Deming off our list.
If you want to know about a town, use the phone first. Find any excuse to call anyone from a real estate agent to a random resident. Ask about crime, whether the local government welcomes new businesses, what the climate is like. Have houses been sitting for sale for a long time, or do they go fast? What are the good and bad things about the town?
Before we moved to Tucson, Arizona, part of our real estate research was to call people in potential towns to see if they owned a snow shovel. If so, we crossed the town off the list. Two places can both get 45 inches of snow per year, but in some it stays all winter, and in others it melts before noon. The snow shovel question told us the truth behind the statistics.
Once you're in a town, a good local bar can be a great place to do your research. After a beer, patrons will tell you what big employers are about to move in or out of the town, how fast homes are selling, whether there are gangs, and much more. Talking to people is a good way to do real estate research, but verify what you hear. People do sometimes exaggerate.

1.       Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Hire Your Own Agent To Buy A Home

Are you interested in buying a home? Is it about time that you move on from your current living situation? If so, you will be up against a tough market. Many buyers find it very difficult to find and buy a home for one reason or the next. If this happens to you, there is one thing that you should look into doing. Do you know what it is? Simply put, you should look into hiring a real estate agent to work on your behalf. Many people think that agents are only for sellers, but this is far from the truth. You can do yourself a lot of good buy hiring a real estate agent to work on your side.
The biggest benefit of working with a real estate agent when you are buying a home is that they are familiar with the market in a particular area. This means that they will be able to tell you when new homes open up, and also what you need to do in order to get the best deal. Generally speaking, a real estate agent can give you all of the help that you need. For many people who are not familiar with the real estate market this is a great idea.
Another benefit of hiring a real estate agent is that they can help you to negotiate the deal. Not only will you be able to ask them any questions that you have, but when you are ready to make an offer they can get in touch with the other agent in order to iron out the details. This sure beats having to do this on your own. When you leave things up to your real estate agent you can be rest assured that they know what they are doing, and are working on your behalf to get you a great deal.

As you can see, buyers can use real estate agents as well. You do not have to be selling your home in order to take advantage of what a real estate agent has to offer. So before you take on this process alone, look into what hiring a real estate agent can do for you. You may be surprised at all of the help you can get along the way.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of theRE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Real Estate Investment in Buenos Aires: Buenos Aires, a one way trip

The city's charm adds to the convenient exchange rate that sets Buenos Aires as an ideal city for international tourism and furthermore, a mine for investment. The investment opportunities are multiple and the channels are open for independent developments: real estate, independent business, technology, importing, and many more.
An attractive road for foreign investors is within the real estate market. It is a realistic option both for small investors and big economic groups. The initial investment cost for a property is quite low and the return is surprisingly high, in short and long term basis. The cost of property and land is beginning to increase in Buenos Aires due to the high demand for permanent housing and short-term rental. There is in fact a deficit of apartments, what also explains the springing of loads of new developments that are.
The acquisition of a property carries along a series of implicit business opportunities apart from its personal use as a private residence: remodeling and resale, traditional rental, temporary rental, among others.
Short-term rentals is one of the most simple and feasible directions for small investors and most especially for those not currently residing in Buenos Aires. Alojargentina, other than selling properties and providing counseling in real estate, offers a full "Property Management" service. This consists in renting the property to tourists and companies following a short-term manner and in the property's maintenance according to each customer's particular needs.
Someone using this service from abroad, for example, can forget about taking care of the property since it can be left in the company's hands. It is a complete service that includes renting the apartment, the guest's full assistance, bills and taxes payment, property maintenance and coordination of any required repairs. The proposal anticipates the property owner's interest in being informed of what is going on with his/her apartment and this is why reports are sent regularly. Customers may choose between a full management or a temporary rent solely management.
Frequent visitors may have their property in Buenos Aires to enjoy during their trips and use it as an extra income source through temporary rent. So, purchasing an apartment in Buenos Aires is an opportunity for a double investment: generating short and long term profit added to having a vacation home in an evermore alluring destination as Buenos Aires.
The apartments apt to be offered for temporary rent have different characteristics but there are certain mandatory requirements such as full equipment, basic amenities and demanded location. The preferred neighborhoods are Recoleta, Downtown and Palermo, but guests often ask for Las Cañitas, Barrio Norte, Belgrano and Puerto Madero as well.
The Real Estate Sales area in Alojargentina specializes in this type of investment. The firm sells properties for personal use but mostly assists on temporary rent investment opportunities. It holds extensive experience in handling sales for foreign citizens and thus has the necessary know how in regards to processes, paperwork and requirements for non-resident buyers.

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Real Estate Investment Clubs?

Your local real estate investment clubs or associations will educate you. It won't be book education, but useful knowledge about your local real estate market. The people there are investors, many who have gotten wealthy investing right in your town. This means you'll get meaningful and specific advice on what is working in your area, where to go for an inspector or property manager, and many other tips and based on real experience.
There are also the actual money-making opportunities that you'll find. People there may need a partner with money, or a partner with time to find deals. Some have properties for sale and want to save the sales commission by selling to one of the members. Also, if you have a business that's in any way related to real estate, you can make valuable contacts. Handyman or landscapers can often find business at our local real estate investment club meetings.
Real Estate Investment Clubs
The local association that my wife and I belong to is AZREIA, or "The Arizona Real Estate Investors Association." I'll tell you a little about it. If you don't have a similar organization in your own town, this may give you ideas for what to include if you start one.
The association sponsors many educational events and seminars for reasonable fees, but the regular meetings are once each month, and included in the membership fee. It cost $195 per year for the two of us to join. As I write this, I am looking forward to tomorrow's meeting, which will include a winner of the TV show "The Apprentice," Kendra Todd, telling us how she made her first million in real estate.
Speakers are great, but I also like the regular events. Every meeting starts with "Open Networking," for thirty minutes or so. It's an opportunity to meet people, learn a little, and take down names and numbers. We each have a name tag that also tells everyone Publishwhat our primary interests are, ranging from rental properties to fixer-uppers to wholesaling.
The monthly meeting then officially starts with "Structured Networking." This involves filling out 3 x 5 cards with your name, occupation, real estate experience, and investments you are interested in. This information is systematically traded with randomly chosen others. It's surprising how often profitable connections are made during this process.
The best part of the meeting is the "I have / I want" event. Members (or even visitors) can stand up and announce what they have and what they want. The host writes their phone number on the overhead projector. It is sometimes something as mundane as a microwave an investor needs to get rid of, that someone doing a fixer-upper might need. Often, it is someone who has money but needs help finding good investments. I once announced that I was looking for a mobile home park to buy, and I received three calls within a week.
The meetings are not formal affairs. The millionaires in the room are as likely to have on jeans as a suit. Everyone shares a common purpose - to make money investing in real estate. In fact, even if you have no money to invest, yuo can do just fine. Just go find a great deal, and if the numbers truly work, you can probably find the money at these meetings. It is just one more great thing about real estate investment clubs.

Contact or  refer to Sarah Miller’s page for more details.

Downsizing can save you money.

Let's face it, we all want to save money.  With the increased cost of utility bills, operating a large home has become a large expenditure these days.  Sometimes it is almost ridiculous the amount of money we pay every month just to heat our homes.  If you stop and think about it, downsizing can save you money.
There are four things a house costs.  The mortgage, the insurance, the taxes, and the utilities.  By starting with the mortgage, you can save money just by moving to a smaller home with less of a payment.  The larger home usually costs more so the mortgage will be larger.  By opting to sell and buy a smaller home, you can save some money on the monthly mortgage payment. Not to mention if you have equity built up in the larger home, you can really have a great down payment on the new place.  This would allow you to pay it off earlier than the larger home, saving you even more money in interest charges.
With the smaller home, the insurance premiums would be less.  Again a savings you would be able to recognize.  This can really add up over the years.  The reason the premiums are lower is because it would take less money to rebuild or repair if something were to go wrong.
Usually the taxes are based on the appraised value of a home.  They can also take into consideration the square footage and the road frontage of the yard.  The taxes in some areas is astronomical.  By downsizing you can save money because the taxes on the new property will be considerably less.  The square footage will be lower.  The appraised value will be less.  Generally in a smaller home the yard is smaller too.  This is not always the case, but it can be true in some areas.  Either way the lower taxes will definitely be a plus for downsizing to a smaller home.
Downsizing can save you money with the utilities just because the home is smaller.  You do need to make sure the property is weather tight.  This means you will want to insulate where you need to, caulk any leaky windows, or even replace them, and make sure weather stripping is in place.  The furnace or heat pump should also be checked to make sure it is operating at full efficiency.  This will ensure you will save money on the fuel bills in the winter.  The electrical system should be up to code and as efficient as possible.  If you have fuses instead of breakers you may want to change over.  When you have completely weather proofed your home you will see a marked difference in the utility bills.
Many people have started to downsize due to a loss of income or illness in the family.  This is becoming more and more common with the economy the way it is right now.  If downsizing can save you money it may be worth looking into.  Sit down and calculate how much you could save over the next five years if you lived in a smaller home.  The figures may surprise you.
Contact or  refer to Sarah Miller’s page for more details.

Downsizing does not have to be painful.

Years ago, it was nothing to have four or five children in a family.  Some families had even more.  This meant finding the biggest house for the least amount of money.  The more square footage and the more bedrooms the better.  As the children grew up and moved away, the house became even larger.  The only time it seemed crowded was during the holidays and even then there was plenty of room for everyone.
Now the house just is too big and there is so much that must be done to maintain it, the holidays are no reason to keep the lumbering giant.  It is time to downsize.  This can actually be a fun time in someone's life. It gives them a time to reflect on the many memories they have from the old house.  Packing can be a fun way to share some of those memories. One way to do this is to have a packing party.
Before you even begin, make sure you know what you are taking with you and what you are not going to need.  You can do this by packing some of the things away on your own.  Then you can call in the family to help.  Make sure the grandchildren are included in the invitation.  Let the family know this is going to be a whole day affair.
Start out by asking everyone to bring a box.  This is where the fun can begin and a trip down memory lane can cause some great laughter.  As your family arrives, explain you are going to be selling the house and you are packing up what you are not going to need.  As the kids wander from room to room it is their job to explain about the stain on the living room carpet that just mysteriously appeared.  They can also talk about how the unwanted house guest “No Body” kept doing things behind everyone's back.
As the items are packed up and placed away, each one of the children will have their own memories as well.  These can be shared with other members of the family and the new generation too.  The trophies which have gathered dust can be bragged about once again.  The favorite toys in the attic can be brought back to life with the grand kids in the house. 
Downsizing does not have to be a sad time.  It can be a time when the entire family remembers what it was like growing up with each other.  The dishes used at holiday dinners, or why there are only three legs on the table that are straight can really make the experience a great way to say goodbye to a family home with lots of history.
As each family member packs up a box, make sure there is one they are going to take home filled with the wonderful treasures they had when they were growing up.  This way a part of the old house will remain with each one of them for years to come.
Contact or  refer to Sarah Miller’s page for more details.

What are closing costs?

When you make an offer to purchase real estate, you will hear the terms closing and closing costs.  This can be a little confusing if this is your first real estate deal.  The closing is almost a ritualistic formality where everyone associated with the real estate transaction is represented.  A meeting it set up to go over the entire contract one last time and explain who is getting what and who is paying for what.  The lender, the buyer, and the seller will all be there.  The title company and the real estate agent who handled the deal may also be present.  The closing costs are the fees associated with the real estate transaction.
The fees can be anything from the title search to ensure a clear title to the inspection fee.  It actually can depend on where you are located as to who pays for what.  This can also be determined by the sales contract signed between you and the seller.  Many times the seller can be asked to pay all the closing costs.  This would mean you do not have to pay any of the fees being charged.  There are some you just will not get out of no matter how much you debate or negotiate.  The appraisal is usually one of them.  However most of the others can be negotiated effectively.
The seller will usually pay for things like the real estate commission and the loan payoff of his old mortgage.  He can also pay for title insurance and, of course, any repairs needed on the property before possession.  Any and all of these fees, except the mortgage can be a point of negotiation.  This would have been done prior to closing so everyone knows what is expected of them.
The buyer will be asked to pay for the loan origination fee, property insurance, and inspections if there were any done.  Depending on the area you live in the buyer may also be expected to pay the title insurance or even 50% of the transfer fees. Again, this is all something which was most likely worked out in the signing of the purchase agreement.
The typical closing costs and fees associated with buying a home are:
è  Loan origination fee.  This is the fee charged by the lender to make sure the loan process takes place.  The typical charge is 1% of the loan.  On $100,000 the loan origination fee would be $1,000.
è  Discount points.  This is money paid to buy down the interest rate.  Each point is valued at a percentage of the interest rate.  In many areas 1 to 2 points can buy down the interest rate by as much as ½ %.  This can save the buyer money over the course of the loan.
è  Credit report.  This can range anywhere from $25 to $50 depending on your lender.
è  Title search.  This can range any where from $400 to $600 depending on the title company.  If the buyer and seller are both getting title insurance, you can split the cost because the title company can do one search for both customers.
è  Appraisal.  The fee for an appraisal can be negotiated with your lender.  If you know a good appraiser, you can see if he or she is acceptable to your lender.  You can save money this way. Typically the fee for the appraisal is anywhere from $150 to $450.
è  Premium Mortgage Insurance (PMI).  The PMI can be negotiated.  This is the insurance which states that a high risk loan is guaranteed against default.  In other words, a lender who is giving a loan for 80% or more of the property value can charge the borrower a fee until the mortgage is paid down to under the 80% ratio.  There are many changes occurring with the PMI. Most loans under $250,000 do not require it any longer.
è  Recording fee.  The fee to record the real estate transaction.  Usually only $40 or so.

There may be other fees in your area.  These are the basics.  You can speak with your real estate agent and lender to get a copy of what you will be paying at your closing.
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What is a closing?

This is one of the most frequently asked questions when it comes to real estate.  It is basically the final step to taking ownership of your new property.  It is a process which enables a third party to sit down with all the parties involved with the sale and go over all the details.  There are many questions people ask about closings.
Who will be at the closing?
The closing agent will be there to preside over the closing.  He may work for the lender or the title office and is usually an attorney.  The other people present will be the buyer and seller, who may bring their attorneys, and the real estate agent handling the sale.  The title company will also send a representative who can provide the evidence of a clear title.  The lender will also be present.
How long is the closing process?
The closing process is actually the shortest meeting during the entire buying process.  It normally only takes about an hour from start to finish.
Do I get the keys to the house at the closing?
Under normal circumstances, the keys will be presented to you by the seller at the end of the closing. There may be stipulations which allow the sellers to stay in the home for a set period of time.  This will have been determined when the purchase agreement was signed.
What happens at the closing?
This is where you will be signing the final documents pertaining to the purchase of your new home.  This will include the Truth in Lending Statement.  This is also referred to as a Regulation Z.  The lender must present this so you know exactly what the interest rate is and what the entire amount of the loan is going to be.  This paperwork will allow you to see the total cost of  the loan, the interest rate, the amount borrowed,  and the annual percentage rate.
You will also sign the note and the mortgage.  The note is the actual paperwork that states you are borrowing X amount of money and plan on paying it back in the terms written therein.  The mortgage is the lien on the property you are buying.
The warranty deed will be presented to the buyer and the seller to sign.  The signing is the transfer of ownership.
You will also be asked to sign, along with the seller, a proration agreement which states how the money owed for taxes and such is going to be paid the month of the closing.
The abstract will also be a part of the closing paperwork. This is the history of the property, on paper.  This will include prior sales and any other important information about your new home.
There will be an affidavit which states you are who you say you are and you can prove it.  This will need to be signed as well.
Of course, one of the last papers you will sign is the one stating you have seen all these other papers and have a copy of them.
The closing may seem tedious.  It is worth the effort when you are able to walk into your new home and know it is yours.
Contact or  refer to Sarah Miller’s page for more details.

Home Buying Basics

 If you are interested in home buying there are some basics that will help your situation in more ways than one. The fact of the matter is that although some people see home buying as a long hard process, you can actually have fun with this if you know what you are doing. The key to having a good time when buying a home is to know what you are doing. This is why you should become familiar with all of the basics before you ever get started. The more information that you know up front the easier things will be on you as you move forward in the buying process.
 One of the most important home buying basics is to know where to look for your new home. If you do not have a clue on where to do this, you will never be able to find a home that is perfect for you. Luckily, you can search for new homes in the newspaper, online, or by simply driving around looking for sale signs. If you put time into all three of these ideas you will surely find a home that suits your needs.
 Another important home buying basic is how you are going to pay for your purchase. After all, if you do not have the money to buy a new home you are not going to get very far. There are many financing options that you should consider so make sure that you look into each one as closely as you can. Not only should you look into how you can finance your purchase with the different types of mortgages, but you should also consider you down payment. Remember, the more money that you put down on your home the lower your monthly payment is going to be. And of course this is a good thing.
 Finally, if you need any help sorting out the home buying basics you will want to get in touch with a professional such as a real estate agent. They will be able to help you find a home, get a mortgage, and answer any questions that you may have. Although you may want to do everything on your own, having a real estate agent on your side comes along with a lot of benefits.
 Gain as much knowledge as you can about home buying basics so that you can make this process as easy as possible.
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