Monthly Archives: February 2017

Get Rich in Real Estate Selling

One way to get rich fast selling Real Estate is to sell houses that for one reason or another may be going into foreclosure or to buy houses from people in financial distress and putting them on the market.

Let People Know You Sell Houses for Cash

It is not enough to decide that you want to sell Real Estate for cash. Only part of your job is finding the houses to sell by looking for houses for sale by private owners on the Internet or in newspapers. You also need to take that step to advertising who you are and what you do. You can put ads anywhere: in your local newspaper, in your local Pennysaver, on real and virtual boards and on your website. You can also send direct mailing offers through mail or email offering to buy houses cheap.

It’s Better to Resell than Rehab

The easiest and fastest to way to make money flipping Real Estate is not to fix and flip the house yourself but to put a deposit down on the house and then be the middle man who sells it to someone else. This way you are not investing a lot of money but you are reaping big benefits from the sale. You often don’t have to put down much of a deposit to secure these houses. Once the contract is signed all you need to do is find someone who wants to buy the house wholesale.

Advertise Cheap Houses for Sale

Your final key to success is to let people know that you sell foreclosed homes. Buy a home for pennies on the dollar from a desperate seller and then sell it for more. You can then advertise this information on a website, newspaper or anywhere. It is easy to find people that want to rehab the house for a profit or even just someone who wants a very cheap house.

As you can see it is not putting a lot of money into a broken down or cheap house but rather becoming the middle man and then selling the Real Estate for more than you paid for it.

The Need For Home Inspection in Real Estate

The last thing that you want to happen when selling your real estate property is encounter complications and incidents that will affect the transaction in a negative manner. The good news is that there are simple things that you can do to make sure that these things do not happen during the settlement process. One of the key elements in as far as effective real estate selling is concerned is the proper appreciation and conduct of a comprehensive home inspection. A critical part of the task is the clear understanding of the key elements of home inspection.

Major Issues Involving Building Integrity

1. Termite Damage and Infestation

This is one type of damage to real estate properties that you don’t want to lose control of. Termite infestation is a reality that you have to face when you have untreated pine. These dreaded pests are capable of literally turning to dust the wooden structure of your dream home in just a matter of months. A reliable home inspection activity must be able to check spots and places in the home for termite trails. Specifically, the home inspection report must provide data and information about any structural timber that may have been affected by termite infestation from the floor joists to ceiling supports.

2. Proper Settling of the Home Foundation

This is a critical structural issue that must be properly noted in the home inspection written report. Both hairline and structural cracks may develop and affect slab foundations as the ground becomes wetter or gradually dries over time. Structural and cosmetic repair to correct these structural anomalies must be properly reflected in the written report. One of the more serious issues that you must be concerned with is your possible liability in instances where plaster and masonry fall as a result of cracks and problems in the lathe and plaster.

It is also crucial to check for possible damages and structural issues affecting the main line within the interior as well as the exterior part of the building structure. The major cause of these problems is the movement of the building structure. This is not a common problem to gas and electricity utilities though you may have to thoroughly inspect PVC pipes as these materials can develop fractures even with the slightest shift of the building structure.

3. Short-Cuts in the Construction Process

This may be perceived by some to be a bit too critical about the home inspection process. However, we have to emphasize the need for us to meet the minimum standards such as the width of mortar joints for bricks. Your failure to comply with the required norm can seriously affect the structural integrity of the building structure. Other structural issues that we have to contend with are the buckling of floors and the use of uncured or untreated wooden components in portions of the structure where down-pipes are installed.

4. Problems in the Plumbing System and Septic System

It is extremely important that you check the plumbing system of your real estate property prior to home inspection. The inspection activity will involve the opening of multiple faucets simultaneously to check water pressure. The septic system will also be inspected for possible drainage problems. Inspection of the septic system is usually done with the use of dye. The presence of the dye material above the septic drain field is an indication of a drainage problem.

5. Unsafe and Inadequate Electrical Systems

The configuration of your circuit breaker and electrical panel must meet the minimum safety standards required for your home. The home inspection activity shall cover the receptacles found in the kitchen and bathroom that contain the safety circuit breaker for system overload and short circuit. The written report will confirm the presence of such receptacles and not the inferior “work-around” handiworks which are usually not wired properly.

Common Pitfalls in Real Estate

We easily blame the moribund state of the real estate market for our difficulty in selling our real estate property. This may be true in many instances. However, there are certain variables that most of us fail to consider when we are putting our property on the selling block. Before we finally attribute to the down market our inability to bring in prospective buyers for our real estate property, it is crucial for us to do some house cleaning and assess the things that we have done and have not done in regard to the sale of our property. The depressed condition in the market is not the only reason why we fail to get a good deal. In most instances, buyers make mistakes and errors in judgments which ultimately result to breakdown in the negotiations with prospective buyers.

Mistake #1. Pricing your Property out of the Market

Price is king in as far as real estate selling is concerned. This is especially so during times when the market is going through extreme lows and highs. Being a seller, you will naturally want to get the most out of the sale. Unfortunately, you may end up outside of the buyer’s radar range if you price your property excessively high. Worse, prospective buyers may develop unrealistically higher expectations from the property you are offering for sale.

Mistake #2. Inability to Keep an Open Mind

Buyers tend to react and resist low offers from hard-nosed buyers. Most of the real estate sellers who fail to make significant headway in their offer to sell are those who are not able to handle prospective buyers who engage in hardball negotiations. In most instances, negotiations break down and no deal is reached. In these times when buyers dictate the tempo in the market, you must anticipate every possible scenario in your negotiation with prospective buyers.

Mistake #3. Failure to Link with the Right Buyers

One of the major reasons why most deals don’t push through is the failure of buyers to raise the agreed amount for the real estate property. Your prospective buyer may actually have a poor credit rating or does not have sufficient liquidity to meet the down payment. In which case, you end up with a botched deal and together with it all the lost opportunity of finding a better and more qualified buyer.

Mistake #4. Failure to Make an Effective Real Estate Showcase

This is probably one of the most unforgivable mistakes that a buyer can commit. Before you even make any move, you must have to make sure that your real estate property definitely meets the basic requirements of a valued property for sale. Look at your home from the standpoint of a buyer and assess all the things that may turn you off from buying the property. Most basic things that must be attended to are the basic repair, repainting and cleaning of the house and its surroundings. An unkempt and rundown property will never attract serious buyers.

Mistake #5. Hiring Unreliable Brokers

Your real estate agent is supposed to be your strong and reliable link to the most qualified potential buyers of your property. Unfortunately, buyers fail to see the importance of due diligence when it comes to their real estate agents. You must only hire the services of brokers who have the initiative, capability, experience and network to create the opportunity that can give you the best deal with the most qualified buyers at the shortest possible time frame.

A Surefire Guide to Making Successful Real Estate

For most of us, real estate selling is the last thing that comes to mind during times when the market is moribund. Even for those who know how to play their cards right, getting the best deal from potential home buyers is considered wishful thinking. The price levels in the real estate market, especially for detached family units, are still low. In a recent market report released by Merrill Lynch, there are now an estimated 2.2 million units of condos and single homes that are on sale. This is about 1 million more units being sold under normal conditions in the real estate market.

If you are planning to sell your property, it is important that you carefully consider your asking price. Real estate experts consider the price as the single most crucial element in the entire selling process. You must be very aggressive in as far as pricing is concerned and you must be able to give incentives to be able to get the attention of a lot of buyers.

In general terms, these experts raise a valid point. However, the task of selling is easier said than done. Under prevailing conditions in the market, you have to think outside of the box and consider other intangibles to be able to move forward. Suffice it to say, selling properties in an over-stocked market is possible and you increase your chances of clinching a good deal if you consider some of the best practices for an effective real estate selling.

* Choose the Right Broker

You need all the help that you can get in order to make a good deal under the present condition in the market. One of your major concerns is getting the services of a professional and competent broker. It is important for you to be able to get lead information on real estate agents who are actively involved in the listing and selling in your locality. A good and reliable broker must be able to give you fairly good presentation to assess the value of your property as well as the relevant figures about the proposed sale and the game plan in marketing the property.

* Know and Understand the Market Conditions

One of your most important responsibilities as a seller is to keep abreast of the current trends and indicators in the real estate market. You need to have a keen sense of understanding of leading, concurrent and lagging indicators in order for you to get the proper timing in selling your real estate property. You must also be able to get the feel of variables which bear great impact in making a good deal in a predominantly depressed market. For instance, you may sweeten the deal by adding incentive for specific upgrades or repairs at the buyer’s option. Your real estate broker must also be able to give you updated details of current sales of real estate properties in your area as well as other properties which are similar to the one you are planning to sell.

* Be Flexible and Use Figures to Your Advantage

You can add some incentives to whet the interest of the buyer and effectively seal the deal. You can resolve issues involving the price of the real estate property by offering to share part of the closing cost. This can be a good proposition if the buyer is insisting on price reduction which is very likely under a buyer’s market. Most mortgage plans allow about 3 to 6% of the closing cost as seller contribution.

Sometimes, you have to go the extra mile just for you to clinch the sale. A simple accommodation on the amount of earnest deposit can go a long way in making the buyer agree to your terms of the sale. This is purely a judgment call and if you have a prospective buyer who has a pre-approved loan and seem to exhibit a strong interest in the real estate property, then it might be wise for you to reduce the deposit in order to bring in the sale.

Reasons Why Miami Beach Real Estate

Miami Beach, beautifully located on the shores of the Atlantic Ocean in Miami-Dade County, Florida, is world-famous for its long stretches of powdery-white sandy beaches, vibrant nightlife, classy art-deco districts and wonderful real estate choices.

Although the oceanfront is the main tourist attraction, it isn’t the only draw. The city is also host to a wide array of upscale restaurants, and a number of museums and galleries.

Prospective home buyers have plenty of reasons for moving to Miami, and these include frolicking in its wonderful scenery, soaking yourself in the city’s thriving nightlife and diverse culture, as well as relishing the thought of living in one of the best locations in the country.

The Best Reasons Why Miami Beaches’ Real Estate Sells

As mentioned earlier, the city not only has its magnificent beachfront to offer home buyers. Among the major drawing points of this diverse city are the following:

– One of the greatest advantages of owning a home or a condominium unit in Miami Beach is the fact you are living close to around nine miles of sandy, palm-fringed 300-foot wide beach fronts, where you and your family would enjoy swimming, sunbathing, fishing, jet-skiing, and doing a host of other water sports activities. This area is also convenient venue for avid and casual walkers and joggers, as there is a boardwalk along the northern part of the beach.

– In close proximity to the famous beachfront are the city’s arts, production and entertainment communities, which add extra essence to the appeal of owning property in Miami Beach.

The city’s Bass Museum of Art exhibits fine art, and the Miami Beach Garden Center and Conservatory contains exotic flowers and flora. From the world famous nightclubs of the 50’s, to the rich cultural life of today’s modern South Beach, the district has a rich history as a major arts center.

– Lots of housing and property options. The city’s property markets are on an upbeat mode, despite the current slowdown in the US housing and credit markets. There are plenty of waterfront houses and estates for sale, as well as thousands of available pre-construction condominium units up for grabs. Prices have, at the moment, remained stable, enabling buyers to choose among homes and condos which have varying prices, which appeal to both middle and upper income market brackets.

– Improved urban development plans. The City of Miami , along with Miami Beach, has further strengthened its resolve to ensure the success of the city’s continuing development surge.

Outdated zoning ordinances are now being completely revamped, as a new citywide development plan, which is overseen by the Miami Downtown Development Authority, is being implemented, which city officials vow “will balance new development with revitalization and preservation of the neighborhoods”.

– The Miami Beach City Commission has recently unanimously approved a tax cut for homes. New home tax rates are pegged at $5.897 for every $1,000 of assessed property value. This move represents a significant 23 percent drop from this year’s rate of $7.67, according to City Manager Jorge Gonzalez.