May 29

Sparkling Future For Estate Agency

images (91)These days the growth factors have been taking a very vast and quick turn which is entirely leaps and bounds and coping with these immediate changes is something very challenging for the different industries. Every industry has its own setup and this may move according to the demands made and the changes evolving. The technology industry needs a very quick response if a business needs to be in the market for a future intent. However, the property and estate agent industry has now been on a steady position and there are bright chances for it to remain income generating in the future. On the other hand, the internet service providers which used to offer the card system have become extinct.

When it comes to focusing on the real estate business specifically one may expect the brightness of future for a number of reasons a few of these reasons may include the following:

Boom of Residential Spaces

These days at every point what we see is the construction of a new residential space which may be a bungalow or a huge building. The population is increasing day

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May 28

The Chill in US Real Estate

images (87)You know things are starting to get dicey out there when even a multimillion-dollar penthouse in Manhattan can’t sell.

It seems a developer in SoHo, having just recently finished primary construction for his high-rise condo tower, realized the project’s focal point – a $45 million, 8,400-square-foot penthouse – was just a bit too much.

“The air is very thin up there in that buyer pool,” was the way the builder, Kevin Maloney, put it to Bloomberg.

You’ll love the Solomon-esque solution Maloney came up with.

The penthouse has a wonderfully grandiose name: the Summit of SoHo.

Sure, it has its own indoor pool. And yes, it has 23-foot living room ceilings. Plus, it has not one but two private elevators. One goes to the lobby; the other is so you don’t have to take the stairs to the penthouse’s upper levels (for entertaining, a spa and a rooftop kitchen and grill).

But the stock market cracked hard at the start of the year, with the S&P 500 down 11% at its lowest point in 2016, while Hong Kong’s Hang Seng dropped roughly 17%. In recent months, Chinese real estate

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May 2

You Need to Know This About Home Appraisals

download (32)A home appraisal is a critical component of any real estate transaction that involves a mortgage loan. If you are refinancing you will need an appraisal, if you are selling your home to someone that needs to get a mortgage, he or she will need to have an appraisal done.

What Is a Home Appraisal?

A home appraisal is an opinion on value by a qualified, unbiased third party. Mortgage lenders require an appraisal to be completed when you are refinancing your mortgage. An appraisal is also completed in a transaction when someone is buying a home to make sure they have not over paid for it.

Mortgage Lenders require appraisal to ensure that homeowners are not over paying for a property because if the borrower stops paying for the mortgage the lender will take action to remove the borrower from the home and sell it to recoup their money, this is why it is important for the home to be worth more than the money loaned. In essence, a home appraisal is a lawyer of protection for the mortgage lender.

The Appraisal Process and How Appraisal

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April 27

4 Things That Will Help Fetch the Right Resale Value for Your Property

images (90)So, you have decided to part with your home. Wondering how to get the best deal that will justify holding it is an investment property until now. Before you put up a notice for sale, or start passing the news to your near and dear, consider the fact that the reality market is some parts of the country has been sluggish.

Hence, it is worthwhile to put in a little bit of effort that will make your property look a lot more attractive to potential buyers. Here are some expert tips that will help enhance the resale value of your home by tens of thousands if not few lakhs.

Pep up the exteriors

As soon as a home is bought, homeowners spend time, money and energy in designing the interiors to their whims and fancy. What they miss to see is that, the exteriors play a major role in creating an impression in the minds of a potential buyer than the interior. It is the exterior that is first seen before they take a walkthrough of the interiors. Hence, pay attention to pepping up your exteriors

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April 27

Professionals Make a Beeline for Madipakkam Residences

images (89)Flanked by Velachery and OMR, Madipakkam is definitely a great place to settle down in Chennai that is ever expanding its municipal borders. Guess who are heading straight to Madipakkam for an address to call their own? Professionals from all corners of Chennai. It is no wonder that Madipakkam has grown into a commercial centre of sorts since the last decade.

A few years back, the region had only few houses in a block. Today the streets are teeming with multiple storey apartments of all sizes where occupants have already flocked in. Madipakkam rental properties are in hot demand owing to their quick connectivity to all parts of Chennai. Although big names of Indian real estate development are yet to set foot in Madipakkam, the region is already dotted with a good number of properties that represent lifestyle living.

St. Thomas Mount is the nodal railway station that provides MRTS connectivity across Chennai. A journey from Madipakkam to Chennai Central station can be covered in less than 45 minutes. The Velachery railway station is also in close vicinity for those who want to reach Central

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April 27

Rent or Buy? Which Option Makes Sense for You

images (88)If you are the individual who is weighing the option of buying or renting a house, you need to consider a few factors. Your financial situation has to be assessed for your long-term planning and that it is not that simple as well.

Understanding your house budget and expenses

It is wise to review your household budget in comparison to the expenses before you begin looking for a new house. You have to find out how much can you afford to pay for accommodation without putting a burden on the budget.

You simply cannot go for rent or mortgage payments if you are unable to pay them on time. Several factors are involved both for renting or buying that should be considered prior to making a decision.

What are the requirements while renting or buying a house?

Your credit history and credit score are crucial and that they will be looked upon by the rental agency or the landlords for the mortgage or rent. You will be checked whether you are can pay the bills on time and are not overdue with the loans or the credit card

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April 27

This Housing Bubble Is Set to Pop

download (30)For generations, it was always a good bet to invest in a place Americans call home. Housing had almost always increased in value, and you received a multiple of whatever you invested into it in your total return.

Until 2008 that is.

That’s when home prices tanked and our economy entered a recession, leaving people like you and me holding the proverbial paper bag when it comes to overpriced and overleveraged mortgages.

Since then, the root cause of the housing bubble has remained in place – easy-money policies by the Federal Reserve to fuel lending. It has led to another housing bubble.

One that is set to burst sooner than most are anticipating.

Since 2009, the Fed has pinned interest rates near zero in an attempt to prop up our aging, lackluster economy.

With a sub-2% GDP growth rate, it’s hard to believe that this has been a success.

But the easy-money policies have propped up aspects of the market, just not in the pockets of the everyday American. Instead, it has bloated the pockets of Wall Street and investors.

Had someone told you in 2006, 2007 or even most of

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April 17

The Next Real Estate Collapse

download (31)As daily commutes go, I have nothing to complain about when I point my car toward Sovereign HQ each morning. The traffic congestion on Interstate 95, South Florida’s main artery, is horrendous. So I take the scenic route, the coastal beach road known as A1A.

The views of the Atlantic Ocean are nice. But more recently, I enjoy the drive for a different reason. It’s a ringside seat to the extravagance of the now-deflating luxury housing bubble I warned about three months ago. Recent data point more ominously to a serious problem in this sector.

Each day, my drive on A1A takes me past what is the single most expensive new home for sale in the United States: Le Palais Royal, under construction for the last five years.

Situated on 4.4 acres of beachfront, the “spec mansion” features the Atlantic Ocean as its backyard. The front yard is a nearly 500-foot deep-water expanse of the Intracoastal Waterway – perfect for even the largest private super yacht.

The mansion’s soaring front gates, accented in 22-karat gold leaf, make it sort of hard to miss as you drive by.

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April 2

How to Deal With a Low Home Appraisal

download (29)Want to learn how to deal with a low home appraisal? In a competitive real estate market, a home being sold may enter into a multiple offer situation which could potentially raise the purchase price above the comparable sales in the area. In a situation like this, it is possible that the home appraisal for the buyer’s mortgage lender will come in lower than the purchase price. In a real estate market that favors buyers (home prices are soft or declining), sellers can also face a home appraisal that is lower than what they paid for the home if they bought the house at the peak of the market. Be aware that a low home appraisal can happen in any type of real estate market.

Why Do Low Appraisals Happen?

Here are a few reasons why a home appraisals may come in low:

  • Inflated home price because of multiple offers.
  • Declining real estate market due to a large inventory of homes and not enough buyers.
  • The seller has overpriced the home.
  • The real estate appraiser lacks experience and doesn’t understand the influences on value.
  • The real estate appraiser incorrectly selected
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March 17

Looking At Seller’s Disclosure In Virginia

images (85)Unlike other states, Virginia’s main disclosure statute requires sellers to disclose very little about their houses. Virginia law requires sellers to disclose the following information:

  • Whether the property is in an area where military air installation is located
  • If the house has a defective drywall
  • If the property has previously been used as a meth lab and hasn’t been cleaned according to the state guidelines
  • Whether the property has a septic system that needs to be repaired, but the owner has obtained a waiver from the Virginia board of health. The seller should let the buyer know whether the waiver will apply to the buyer
  • Sellers may choose to disclose whether the property is in a designated tourism activity zone.
  • In Virginia, newly constructed homes are usually exempted from statute disclosure rules.
  • In addition to the state disclosures, sellers must also meet the federal disclosure requirements. Sellers with houses constructed before 1978 are required with federal Title X disclosures. These are disclosures regarding lead-based paint and hazards.
  • As the seller you should give EPA-approved information pamphlet to buyers. These pamphlets should give information relating to lead in your home. It’s also
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March 11

Should You Buy a Ready Possession Flat or Get a Home Constructed?

images (86)Living in your own flat or house provides you with the great feeling of security, independence and happiness. The ultimate dream of everyone is to own a place to live. When a person starts to earn, the first thing that comes into his mind is to own a house and starts to save a lot towards this purpose. When it comes to own a house, you have got two options, buy a ready possession flat for sale or buy your own land and build a house in it. Both these ideas have their own advantages and disadvantages. Let’s analyse some of them to decide between these two great options to own a living space for ourselves.

Building Your Own House

Every person has a dream to construct a house that suits to the needs and requirements of the family members. It gets fulfilled when you plan and construct a house for you. Here, your liking and preferences of interior decoration, a color of paint, types of tiles and marbles and a lot of other features of the house give preference. You can choose between costly

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March 2

How Buyer’s and Seller’s Markets Impact Homes for Sale

images (84)Nothing is as fickle as real estate. Housing prices may rise or fall for any number of reasons. Although they can make investing in your own property a bit of a risk, with a little bit of knowledge the informed shopper can easily make the best decision possible when looking at homes for sale.

Buyer’s Market

Simply put, a buyer’s market is a result of the economic principle of supply and demand. In this case, there are more properties in supply (i.e. for sale) than there is a demand for them, meaning that those looking to invest in real estate have a lot of options to choose from. Supply and demand fluctuate depending on how many new customers enter an area and how many homeowners in the region have decided to stay in their properties.

In these circumstances, there are plentiful homes for sale, which favors those interested in investing in residential property. The geographic region and price ranges are favorable and the cost to purchase is relatively low. If housing in an area tends to take more than six months to sell, then it is

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February 28

Time to Get Out of Real Estate

images (83)Talk about exquisite timing.

Even today, a decade after the fact, the leveraged buyout of Equity Office Properties Trust remains one of the largest of all time: $36 billion for nearly 600 office buildings in New York, Washington D.C. and dozens of the nation’s largest cities.

But in late 2006, some wondered if the billionaire who sold the REIT was being a little rash. After all, the real estate boom was in full swing, and the S&P 500 was primed to hit new all-time highs. “Is he cashing out too early?” asked a Bloomberg headline when the deal was announced.

We all know the answer, of course.

Billionaire Sam Zell deftly sidestepped the coming real estate carnage. Then, with prices at generational lows a few years later, Zell bought hundreds of apartment complexes at dirt-cheap prices.

And today? Well, that’s the ominous part…

Once again, Zell is selling his real estate holdings. Last fall, he unloaded a quarter of his portfolio, buildings totaling about 23,000 rental apartments, to Starwood Capital Group for more than $5 billion.

Zell next sold off apartment buildings in South Florida and Denver, with complexes in

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February 28

Columbia, MO Offers Great Real Estate Opportunities

images (81)The real estate market in Columbia, MO is ever-changing. Columbia has now became the fourth largest city in the state of Missouri. The city gained about 10,600 residents between 2010 and 2015. This is great for real estate in the area. It has been the fastest growing city in Missouri over the past five years. Every Boone County community has seen growth since 2010 by about 3 to 4 percent, except the smallest towns. This city has a wide range of real estate from condos and apartments to single family homes. There is plenty to choose from and a great time to buy or sell.

Columbia, MO is the perfect place to live in Missouri. It is practically right in the middle of the state with St. Louis and Kansas City being less than 2 hours away in each direction. There are many outdoor activities to participate in with nearby state parks and the MKT and Katy Trail to hike and bike on. Columbia also has amazing festivals! There is one or more every month ranging from the True/False Film Festival and Citizen Jane

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February 16

Wholesaling Horror Stories

images (80)A couple months ago I had a client bring me a deal to fund. He was pursuing a wholesale deal and the precursory buy/sell figures looked great. I started building his file, which I anticipated to be a no money down deal with a fast close in 2 weeks. Then, he sent me the contract. As a standard practice, we always review the contract to make sure there are no “gottcha’s” that might derail a deal, and in reviewing this client’s file, everything looked good, with the exception of the name of the buyer. The wholesaler had prepared the contract using their company name instead of using a “throw-away” LLC (see below). I’ve seen this before, and it typically doesn’t cause any issues if you schedule a double closing; however, before I could advise the client, the wholesaler had received an addendum from the seller adding the client to the contract. The result: both the wholesaler and the end buyer, the client, were listed on the contract! In other words, the client, unbeknownst to him, just landed himself a partner.

As you probably know,

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February 3

Real Estate Statistics Explained

images (79)Basic Real Estate Statistics Explained

We are going to define some of the basic real estate statistics that get thrown around on a regular basis. To do that, we will use one real estate market, located in Hood County Texas. Even more granular, we will use the single family numbers for homes in Granbury Tx, a small town of approximately 8,000 residents which has seen substantial real estate growth in the past 12 months. It is important when reviewing real estate statistics to use a group of numbers large enough for consistency, but granular enough to tell your story.

The statistics that we will be referencing are true and accurate for the year discussed but are being used to define the real estate statistic itself.

We have chosen Granbury Tx as our example because the growth of the local real estate market there make the statics stand out.

Anytime you are evaluating statistics, especially in real estate, the source of the numbers are extremely important. In most instances, the MLS (Multiple Listing Service) provides the most accurate numbers when referring to real estate. This is because

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January 27

4 Advantages of a Virtual Doorman System

images (78)Virtual doormen are fast becoming a popular alternative to hiring a regular physical presence for many commercial properties, and their popularity is also rising for residential buildings. The reasons for this are numerous, as are the many advantages that this kind of service can offer.

Although there are several concerns that people may initially have with this kind of remote solution, the reality is that if put in place effectively, people can benefit from the following plus points that automatically come with adopting this kind of system.

Firstly, one of the main advantages of a virtual doorman solution is that it is far less expensive than hiring a physical presence when it comes to commercial properties. Many commercial buildings like to have a physical security presence, but in some cases this can be costly for something that is not entirely necessary.

A virtual system is a more affordable option as it involves only using the service when someone tries to enter a property to make a delivery or carry out some other necessary task. A link is established by video and audio so that identification measures

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January 19

Residential Log Cabins Offer Great Summer Fun

images (76)Residential log cabins have become extremely popular lately. It seems that simplicity is making a comeback in an age of interconnected clutter. But what is it about residential log cabins that attracts so many people? For the majority of us, these cabins offer a vista into the world of minimalism. For any summer traveller looking to get away from it all, this is a perfect world to enter.

Enjoy nature inside and out

Whether it’s fishing, hunting, hiking or just enjoying the warm summer air, a residential log cabin will be where you want to go. It offers a pleasant retreat from the day’s activities, and when evening comes, you’ll love the wooden atmosphere as you settle in for the night. The natural interior makes you feel at home in a world where so much of living is manufactured. You have the perfect place to find peace from the constant noise and movement of modern day life. You can enjoy your world at a slower pace and make sure that you don’t miss a thing.

Summertime is, for most, the only chance we get to break

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January 17

Truck Door Magnetic Signs – Why Would You Use Them?

images (77)You have probably seen truck door magnetic signs on real estate sign websites and used by other industries but you are wondering why in the heck you should use one. You have a nice vehicle and you don’t want to risk the magnet damaging it, you think it looks cheesy, or any number of other concerns about using them. Truck door magnetic signs though can play a big role in boosting your business.

Does It Look Cheesy?
Before we get down into the benefits of using truck door magnetic signs there is one question that needs to be answered: does it look cheesy? The answer to this question is relatively simple, not if you plan it right.

If you have ever seen a magnetic sign on a truck that looks cheesy it is probably because the sign was white while the truck was another color or some other obvious design flaw. When you order door magnetic signs that are made by professionals you will send them the color of your truck or car so that the sign will match your car. That way the

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January 2

How to Assess Any Real Estate With the Approaches to Value

download (28)The valuation steps applied to create a supported conclusion of a defined value based on an analysis of applicable general and specific data. Assessment in creating an opinion of real estate value follows specific sets of processes that reflect 3 different methods. These include:

– Cost Method
– Direct Comparison Method
– Income Approach Method

One or more of these methods can be used in the assessment of real estate valuation. The methods to be used will rely almost entirely on the type of property being assessed or appraised; however may also factor in the use of the appraisal, the scope of work involved, and the data availability for the analysis.

Cost Method

The cost approach to assessment and appraisal is established by understanding the construction methodologies and property attributes related to cost. The cost approach is estimated by adding the cost of land to the current cost of construction related to all improvement on land, and subtracting depreciation in all improvements on the land. The construction costs of buildings would include a reproduction cost or a replacement cost of the same or similar like materials or

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