Posts Tagged ‘money’

There is no doubt about it, but now is not the best time to sell! Unless you:-

1. Are looking to sell your home and trade up to a more expensive one
2. Have enough equity in your home to still make money out of your property when you sell
3. You are planning to stay in your new property for five or more years

Your choice as to whether you keep your property on the market or put it up for sale will also depend on what’s happening in your local market as media ‘headlines’ about what’s happening in the property market are often misleading.

For information about how to find out what’s happening in your local market:-

1. Put your postcode into Hometrack.
2. What is the average offer versus asking price? If it’s more than 95% you are in a good market to sell, if it’s less than 95% (and the current national average is 90%) then it’s likely you’ll have to drop the price to make it competitive.
3. Visit our ‘how to spot the bottom of the housing market’ in your area, purchase our Buying a Property eBook or Buying a Home Factsheets.

What to do if you have had your home on the market for more than three months?

No viewings!
If you have had no viewings at all, it’s likely to be because your property is priced too high OR you haven’t chosen the right agent to sell with, so aren’t getting the buyers through the door. Speak to your agent and read our Sellers Problems Articles.

No Offers!
If you have had viewings but no offers, it may be the price is too high, but it also may be that there is something putting buyers off. Properties which are on busy roads, have a pylon next to them, next to a school or pub, don’t tend to sell well in a poor market. Properties which are ‘unbalanced’ eg five bed family home with a postage stamp for a garden are also difficult to sell. Speak to your agent and read our Sellers Problems Articles.

What to do if you haven’t put your home up for sale already

1. Make sure you can achieve the sales price you need to purchase the property you want to buy.

2. Work out the type of market you are operating in and pretend to be a buyer! Read our selling a home article for more information.

3. Find three local estate agents to recommend a valuation – but make sure each has already sold a property like yours, in a similar price bracket. For example, don’t give a £500,000 home to an agent that only lists properties up to £150,000 or a terraced two up two down to an agent that concentrates on country homes.

4. Ensure you price your property competitively. If it’s worth £185,000, put it up for under £175,000 as there is no stamp duty. A property worth £220,000 is more likely to achieve its price if you market it for £199,000 as two buyers may compete, whereas you may get no viewings at £220,000.

5. Make sure there is NOTHING the buyer can object to. Make sure the property is clean and tidy throughout, no clutter, every room does what it says eg: a bedroom is a bedroom, not a junk room and no bikes in the dining room!

What else can you do?
There are other ways of selling your home, some require you to buy another one:

1. Why not consider buying a new build and if you are trading up you may be able to buy the new home while part exchanging your current home. You won’t have to pay estate agents fees if you sell in this way.

2. Sell to a property investor, but be very careful about this. There are some good guys and some very bad ones. Please note if someone offers to ‘buy and rent back the property to you’, sometimes called ‘sale and rent back’ they MUST have applied to be FSA registered by 1st July and be FSA regulated by 30th June 2010.

3. Consider swapping your home for another one – advertise in the local paper, or leaflet locally and even offer an estate agent some commission if they find someone you successfully swap with.

4. Why not ask your company/organizations you have joined/work with if you can advertise on their notice boards/on-line or in their company magazine.

5. If you are trading down to a retirement property, they may be able to organize for a trusted company to purchase your home. 

I am one of the UK’s top property experts being regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express and have appeared on BBC2, featured on BBC Radio 4, Channel 4 and a number of local BBC Radio stations. I have been a consultant to the property sector for a number of years and renovating properties for over 20 years. I have also written a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook. For answers to all your property questions, contact me at Designs on Property on 0845 838 1763 or visit our website and blog using the links below:

http://www.designsonproperty.co.uk/
http://factsnotheadlines.blogspot.com/

Author: Kate Faulkner
Article Source: EzineArticles.com
Canadian crossborder shopping

You may be thinking, I want to sell my home but in today’s market should I even bother? That question plagues many home owners as they consider the economic climate and their own personal needs. First, some things never change whether it’s an economic boom or bust. You will need to make sure that you fix all those little things around the house that you’ve let go for so many years.

Consider how you intend on selling your home, will you do it on your own or will you go through a realtor? Both have advantages, with one you will save a ton of money on fees. With the other you may get a better sell price and greater marketing reach. Prior to making a choice look into what other houses in your area are selling for, this will give you an idea on what you will get.

Patience will be needed, homes are still selling in this economic climate but probably not nearly as fast as you would like. Expensive homes are taking much longer to sell whereas those on the lower end are selling much quicker, all this will play into your need to understand the market and be patient.

A common thought is that you need to add a lot to your home in order to make it desirable and sellable to people. Most likely this won’t be the case; some people are looking for a floor plan they like and something that they can spend time remodeling. While others may not like the new carpet you just installed and plan on replacing it as soon as they take ownership. Look at doing small things with big results. Paining the interior and exterior of your home will yield your greatest results.

Potential buyers can look through lots of things and see the vision your home will hold for them, but most find it hard to look through filth and clutter. Take the time before hand to do a thorough cleaning of your home, perhaps even hiring a professional. Once the house is clean keep it that way, buyers will spring up at your doorstep with a realtor when you least expect it.

You are about to embark on a major undertaking in your life when you sell your house, a little knowledge will go a long way to making the process smooth. Take the time to learn about your local area, realtors and overall market and move forward prepared.

Tab Pierce is an executive sales leader and security professional who has spent years as a serial entrepreneur. He has owned successful companies within eLearning, data management, telecommunications and others. He has also successfully assisted companies integrate sound sales processes into their organization.

Author: Tab Pierce
Article Source: EzineArticles.com
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Selling your home by owner (FSBO) can be quite a hassle, especially if you are doing this for the first time. There are a number of pointers you should look into before you embark on the home selling process.

For anything you do to be successful you must have a plan. You need to plan how you are going to sell your home. The plan for Selling your home by owner (FSBO) should be well done so as to achieve your goal. There are a few pointers one can look into when they are selling a house. Some of them are motivation for selling, buying a new home, using real estate agents and whether to sell before buying another home.

The motivation for Selling your home by owner (FSBO) can vary from one to another. The best motivation would be if you want to buy a better home than the one you currently have. However, the motivation could be due to financial straits. Of these two you are more likely to be more careful if you are planning to get a better home. This is simply because it means you have saved up some money and you just need some additional capital to be able to buy a better place. If that is the case then there is no pressure. Unfortunately for those selling due to financial straits, there is more pressure because of the stress related with being in this kind of financial position. You will find that the house might be sold for a throw away price due to the pressure of getting some money from it as soon as possible.

When Selling your home by owner (FSBO) you should also consider real estate agents. Consult several of them and you will be amazed at how many different offers you will get. Before you do this you should first get an evaluation of the house by different parties. Real estate agents are all over the world. Most of them can also do evaluation of your house but it would be better if you consulted with estate evaluation agents to get a more realistic figure. They can also give you tips on how to sell your house depending on how much they are willing to inform you. Once you have done the proper research and planning, Selling your home by owner (FSBO) should not be a hassle at all.

If one is not careful, they might fall prey to con artists who may swindle you out of your home and leave you without a house and payment.

John is the author of Chicago Flat Fee MLS articles for Flat Fee MLS Listing. You can find more information at Chicago Flat Fee MLS.

Author: John R Roberts
Article Source: EzineArticles.com
Credit card currency-exchange fees

There are plenty of reasons why people would want to buy now during this real estate downturn and foreclosure melee. Statistically, in fact, people have made their fortunes by buying when everyone else is selling. It’s especially true when there are so many people “on the fence”.

However, there are many things to consider before jumping into the real estate foreclosure market. Many people have also lost fortunes because they were careless and did not do their homework.

Understanding real estate fundamentals is especially true during a foreclosure boom, just as they were during the real estate upswing. Having been personally burned during the heady real estate days, I can honestly say that anyone considering buying foreclosure properties should arm themselves with the facts before committing to the purchase.

There are plenty of reasons to be cautious about buying a foreclosure property. The number one reason to be cautious is that there are as many dis-honest agents out there as there are honest ones. In fact, they will tell you anything to get you to commit, obviously because they get a commission. And, of course, if there is a bidding war (yes these are happening now on the foreclosure buying front), they make even more!

30 years ago, my father told me, but I didn’t listen (who does?), that in real estate it’s all about Location, Location, Location. If your foreclosure agent is telling you it’s a great deal … it very well may be … but is it perhaps that nobody else wants to buy there? For example, I was scammed into a property in a terrible neighborhood in California. Worse, my deal was not necessarily a “good” deal. Now, I have a deadbeat tenant and nobody wants to buy it from me at ANY price.

Consider this next example. An agent comes to you to tell you that a development project is the “land of opportunity”, whether in foreclosure or not. The agent even tells you that he / she had also put up their own money into the project … that’s how convinced he / she was in this project.” BIG RED FLAG … No agent should need to tell you they have money in the project to convince you that it is a good deal. I personally have been burned on this type of “opportunity”. I’ve also heard from many people with similar horror stories.

People are drawn to the “get rich quick” ideas and often put their logic aside because of the dollar signs. Another old adage says that “if it seems too good to be true, it probably is.”

Here’s another example of the risks associated with buying a foreclosure. Most people don’t bother to read the fine print. This might include disclosures or title reports. Why is this important? Consider the example of a property owner who did not make his / her city utility payments for several years. You might make an offer on a foreclosure property “as is”. Once you take it over, you would be liable for back payments of thousands of dollars. Yes, that’s happened to me, as well … several thousands of unpaid utility bills were rolled into the property taxes.

There are plenty more risks to consider when buying foreclosures properties. On the other hand, if you understand the foreclosure risks, read the fine print, and study the fundamentals, you could end up rich … someday! Follow my blog, The Top 10 Gotchas In Buying Foreclosures, at 24x7housebuyer.com

David Chan is a “retired” real stand and loan professional. He shares his tips on avoiding foreclosure buying risks. Find out more about house buying tips, risks and rewards at 24x7housebuyer.com.

Author: David K Chan
Article Source: EzineArticles.com
Duty on LCD/Plasma TV

Dealing with financial hardships? If yes, then you must consider the option of selling your home. Although the though of selling your home is quite dreadful but there is no better way to get rid of your financial troubles at one fell swoop.

While selling your home is a good option, it does come with certain problems. The biggest problem for people is to find another home. Not to mention that finding a new home is a long row to hoe especially if you don’t have a lot of money and it is obvious that not much of the money will be left after paying certain debts.

In this situation, the best option is available in the form of sell and rent back schemes. These increasingly popular schemes allow you to live in your home after selling it to a property investor. But, this particular option comes with certain variations. The two options available at your disposal are;

* Sell and rent back: This is the basic option where you sell your home to an investor and get money to deal with your financial predicaments. Here, you can live in your home according to the terms defined in the legal documents being prepared by the company or property investor. This is the most common option used by majority of people.

* Part ownership sell and rent back: This is another scheme that can be considered by you. In this particular option you don’t have to sell your entire home to a company but you just sell a part of it. There are several benefits of doing so. The biggest advantage is that you can live in one part of your home after getting a good deal of money for rest of the home. This option is extremely beneficial for those who need money quick but don’t need a lot.

These are the two common options available for you to choose from. But, before going for any of the options you must determine your needs. Researching is the key to success in this situation. You must check the market value of your home and compare it to your current financial needs. If you think sell part of your home is good enough to deal with your needs, you must not consider the other option. It is so because if value of your home appreciates in future, your share in your home will also go up.

The bottom line is that there are different schemes available for you to make a choice at the time of selling your home. But, you must make sure that you have all technical details about a particular sell and rent back scheme. Taking professional legal advice is the best thing to do in this particular situation. So, always consult with a professional as only he will help you to understand the right way of using sell and rent back schemes.

croftpropertyholdings.co.uk offers help to homeowners facing problems like sell and rent back schemes, mounting debts or repossession. It doesn’t only help you to sell your home but allows you to rent it back at affordable rent with renewable agreements.

Author: Richart Rick
Article Source: EzineArticles.com
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Getting help with investing is easier than you might think. In fact, if you already work with a realtor or mortgage broker, you may already know how to work with the other specialists who can help with your real estate investing.

But real estate investing is much more than finding and buying the property. There’s more to do once the deal is completed – and you may own the property for months, and more often for years. Certainly you don’t want another job, or obligation in your life. That’s why real estate investing is so appealing to begin with! So to get that free time and passive income you dreamed of in the beginning of your real estate investing career, get help with investing: outsource your work.

Here are 3 tips for you to use to successfully outsource those daily, weekly and monthly tasks associated with real estate investing that are better done by someone else.

(In fact, if you do these 3 things, you’ll have more time to buy property, more time to spend with your family or on vacation, and more money!)

The first tip is: expand your geographic investing area by outsourcing. I’ll share the details of this in tip #2, but first I want you to consider this: there are only 24 hours in a day. We all have plenty to do to manage our own lives.

If you have a family, wouldn’t it be great if your real estate investing allowed you to spend more time together? If you have a job that you can’t stand, wouldn’t it be great if you could leave it, never to work for anyone else again? By outsourcing work of all kinds, you can gain precious time to do what you want to do – whether it’s work or play.

You’re the CEO of your company. CEOs don’t do the work – they hire it all done. Your job is to oversee it all, to manage your real estate investing portfolio (not to fill out landlord forms, chase tenants, mow lawns and collect rents!)

Besides, your most important job will be taking checks to the bank! (Never outsource this task!)

The second tip is: hire specialists for all aspects and all phases of the work. Here’s a list of specialists you can outsource to. Are you an active investor, or doing the research to become one? Don’t be surprised if this list saves you over 20 hours a week (or more) in activities you’re currently doing yourself! How much bigger could your portfolio be if you hired:

o Real estate broker with ARM and/or CPM designations
o Birddog
o Municipal employees

The real estate broker (or agent) with ARM (Accredited Residential Manager) and/or CPM (Certified Property Manager) designations is essential to your real estate investing success. Not only does this real estate professional find you properties to invest in, but he or she is also your property manager.

An ARM or CPM Realtor is educated. It takes many hours of continuing education to achieve these designations – five classes and tests for each designation! They know their stuff!

While they’re busy managing your tenants (so you don’t have to) you can spend your time as you like. And they’re experienced at this work. Let them collect rents, hire maintenance work done and do the day to day management of your properties.

Find an ARM or CPM Realtor at http://www.irem.org At that site, you’ll find members from different cities all over the country, allowing you to invest in properties in many different markets! And that kind of diversification is just smart.

If you’re just starting, and working only one market area, hire what’s known as a birddog. That’s a person who scopes out buildings for you. You pay a finders fee, and your birddog does all the leg work. Imagine a person (or a group of people!) bringing you potential investments!

Birddogs work best with single family properties, but if structured properly, you can do very, very well.

The last group is municipal employees. You won’t actually hire these folks, but they’ll be partners in your quest for wealth. Here’s how: rather than going to the courthouses of all the towns and counties you’re interested in, get help with investing with this group of under-appreciated people! Always remember that a little goodwill goes a long way. Treat these folks with respect. Get lists of out of town property owners and start a letter-writing campaign to build your real estate investing portfolio.

Now, here’s where it gets really good. The third tip is: use real estate investor courses to learn fast and learn right. By learning from the experiences of others, you can learn in a fraction of the time it took to develop the knowledge your investing teacher took to get there. That’s like outsourcing your learning!

David Lindahl, also known as the “Apartment King” has been successfully investing in single-family homes and apartments for the last 14 years and currently owns over 7,000 units around the US. David regularly shares his secrets and experience on the same stage as Tony Robbins, Robert Kiyosaki, and Donald Trump! For two FREE copies of his highly recognized newsletter Real Estate Insights, please go to http://www.davesoffer.com/ezine

Author: Dave Lindahl
Article Source: EzineArticles.com
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