Powered by Blogger.
RSS

Home Is Where The Playground, Office, And Gym Are

Houses are an important part of our lives, especially when it comes to raising a family the right way-- because, without a house, there is no home. This makes the real estate industry one of the biggest and most important industry in America. A house is not just a "home", either, with a welcome mat placed at the front door and various decorations and expensive (or cheap) furniture placed inside. Having a roof over your head and four walls around you means you also have shelter from the storm-- literally and metaphorically, protection from the outside world-- especially when you need a so-called sanctuary in order to get some time alone by going to your own room, and security and stability in times of need-- both financial security and family stability.

In addition, houses are a place to build and store memories. Do you remember what it was like to grow up in your own home? What kind of house did you have? Where did you like to play-- outside in the yard or inside in front of the TV? Houses are also often littered with pictures and souvenirs to remind us of these memories when and if we forget.

Houses are also a place to wake up in, eat in, and go to sleep in, too. However, having a house-- be it an apartment, condo, flat, one-story, two-story, or three-story house, is something that many people might take for granted until they become homeless themselves or encounter other people who are homeless.
We've all seen people who are homeless before. They usually hold signs asking for help, but sometimes I wonder if they ever receive help and recover from the dire circumstances of their lives.

So, stop for a moment and think about what it would be like to be homeless: no fridge or pantry to hold your food, no bed for your body to rest on, no closet to store your clothes, no nothing. And, being homeless means being exposed to the weather: In Texas, you might be burned alive, and in New York, you might freeze to death.

As we live our lives, it;s easy to take having a house and a home for granted-- like many other things that we see as "basic" but really aren't if we take a look at statistics. So, we should always remember how important it is to have not just a house, but a place to truly call home-- with family and security, as well as happiness.
Although houses are often homes (and home is where the heart is), there are also many other things you can do with your house other than decorate it with furniture and memories. Here are just a few:

Play At Home

Do you have kids? Even if you don't, you can build a playground at home. Buy a kiddie pool for yourself or your kids. Fill it up with water and splash around. You can also fill it up with sand and have a fun time building castles or doing some burying-- of both bodies and treasure. Playing at home is a great way to relax, and don't forget about video and computer games if you'd rather play inside.

Work At Home

You can also work at home. Technology like Google and Skype allow you to build a home office easily, and depending on your job, you can even meet clients at home through the web or in person. Having a home office is still a very relevant, very real alternative to commuting long distances and working a desk job all day.

Workout At Home

You can also workout at home. Building a home gym isn't as complicated as it sounds, and depending on your budget and space-- its totally possible. You can also just get a yoga mat or some pull up bars. You can also workout outdoors in your backyard.

Jennifer Machie is a writer for Jason McMinn of the McMinn Law Firm.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

5 Questions To Ask A Real Estate Agent


Monopoly

You’ve decided to sell your house, but you don’t want to deal with the admin yourself. You’d much rather hand over the job to a qualified real estate agent.
But where and how do you begin? It’s very risky to just call up the first real estate company in the phone book, asking them to represent you. You want to put the sale of your house in the right hands. If you don’t, things could go very wrong.
To help you decide on a real estate agent, we’ve compiled a list of five important questions to ask a realtor. They’re not in order of importance, as no one question carries more weight than the other - their answers will together help you make an informed decision.

Can you tell me more about the area my house is in?

This might seem like a silly question to ask, as you’re staying in the area and are more than familiar with it, but it’s a vital question to ask. If the estate agent doesn’t know a thing about your neighbourhood, how are they going to sell it to a potential buyer? They have to be able to list all facilities of importance, like schools, shopping malls or hospitals. They should also be able to share general information, which could range from how safe the area is to what type of neighbours you have. This is all necessary to give an accurate and fair sales pitch.

What is your commission and is it negotiable?

You want to talk money right upfront. The last thing you want to do is commit to a real estate agent before determining exactly how big their cut will be. Any agent worth their salt will be happy to answer your question. Obviously one that is open to negotiating their commission is a much better option than an agent that won’t be. Not only will you be able to save money – it’s also a sign of someone who’s willing to compromise. This is a trait you want in your realtor, as it is sure to benefit you in other ways as well.

Can I please have the names and contact details of your last three clients?

Don’t just ask for three references. Be specific about the fact that it should be the last three clients that listed with them. If you don’t do this, chances are you’ll only get references from people whose houses were sold. Then naturally the references will be glowing. But this won’t be the whole and accurate picture. That’s why it’s important to also talk to people who had unsuccessful sales or who struggled to get their house sold.

How will you market my home?

A good realtor will have a strategy in place and a list of contacts to make use of. You don’t want to list your house with someone who’s merely going to put a sign in your front yard. This is not completely futile, but you can bet your bottom dollar that it will take ages for your house to get sold.

What is detracting from my home?

Who better to share reasons as to why your home might not sell as someone who’s in the real estate industry? You might be able to pinpoint certain factors, like mould on the ceiling, but a realtor will be able to indicate problems that are much less obvious.

Even with the all of the right answers, it’s vital that you get along with your real estate agent. If you can’t communicate freely and openly, it won’t matter that your realtor is the best in town. You’ll still have a horrible time trying to sell your house and you don’t want this. The sale of a house is an incredibly stressful time as it is.

Featured images:
Terrence used to work in the finance and real estate sector. He helped many clients to secure home loans and also assisted them with other general real estate problems.  

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

How To Know Whether Or Not A Potential Property Purchase Will Be A Wise Investment Decision




Real Estate can be a very sound investment, and the long-term benefits are very attractive. However, you need to take steps to ensure that you get a sound investment rather than a money pit that is only going to be a nightmare. Here are some signs to watch for when you are searching for a good investment property.

Know the Area
Location is everything, and properties near good transportation links and attractions will fetch a higher rental amount than more isolated properties. Before making the investment, do some research on real estate sites to see how much rentals in an area are typically going for. Potential renters are future buyers are going to want shopping that is reasonably close, and they will be more attracted to properties that are near jobs and local attractions.

Overall Cost and Rate of Return
Your rate of return is determined by more than your purchase price. You also have to look at the repairs, renovations and upgrades the property needs. Every dollar you put into the property delays the time when you will start seeing a profit, but you may have to invest money to prepare the structure. If you are going to do the work yourself, then you should also take your labor into account. The best deal can wind up costing too much if it needs extensive repairs, has foundation damage or needs to be fully updated and remodeled. It’s also important to factor in the money that will be spent on future repairs and updates.

Local Vacancies
In addition to examining the building, you should examine the surrounding area for excessive vacancies and fresh listings. If other buildings in the area are not moving or renting, then the area could be on the decline and any property investment in that part of town is likely to prove troublesome. Look at the history of property values in that area. Buy in areas where values have risen or held steady, and avoid any areas where property values are gradually declining.

Quality of Construction
Don’t make the mistake of looking just at the paint and colors on a house. What you really care about is the quality of the construction. The foundation should be solid, and the construction materials used should be a higher quality. Look for a simple design and good floor plan that flows naturally from one area into the next. When a house is solidly designed and constructed, it will not require as many repairs over the coming years. The surrounding yard also matters. While you may not be too worried about the landscaping right now, you do want to make sure that the yard does not get too wet after the rain and that there are no other serious issues with the gardens.

Before making any investment, it’s wise to carefully examine the property. You are going to look at more than just the basic architecture and floorplan. Consider the quality of construction, potential problems with the yard and the repairs that need to be made. Location is everything, so pay careful attention to the surrounding areas, and take the time to research historical real estate information to see if property values are on the rise or are slowly falling.
Featured images:

Lucy James writes for www.findamortgageonline.co.uk, a UK based whole of market online mortgage broker that can help you find the best mortgages around the world.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

Tools To Help You Find Your Dream Home

The desire to find and buy the perfect home means something different to everyone. Some people want a large home with a big yard and others want a small townhouse with little outdoor space. This is why there are so many options when it comes to houses that one may find it hard to truly figure out which home style is right for them. You can help yourself better determine the type of house and the exact house of your dreams when you put a little technology to good use.

Pros and Cons

You can start determining the type of house that will work best for you and your family my making a spreadsheet of pros and cons. This is your starting step and is one where you and your spouse need to both participate as the right house is the one where everyone is happy and content. You can use a spreadsheet to make things organized and you simply need a column for pros and one for cons. You then enter the things you do and do not in a new house. You need to include items, things, tasks and responsibilities as this will serve as your guide later on. You should include things such as whether a large yard to plant a garden is a pro or pain for your lifestyle.

Pictures and Videos Speak Volumes

Some of the best technology tools today are web sites that have virtual home tours and high resolution pictures. You will want to gather those and compare the things noted against your pro and con list. This is a great way to start whittling down the list of potential houses. You only have so much time available and thus you can skip the actual touring of the houses process if you can already make a few determinations that some houses just will not work for you.

Never Underestimate the Power of the People

One other great technology tool to help make a house buying decision is the use of online forums and blogs. This is where you can, anonymously if you prefer, ask questions about a house, neighborhood, community or any other aspect of the houses you are most interested in. This can help give you even more information that you can use with everything else you have gathered so you really can narrow down your choices and thus have a manageable list of prospects that you can truly take your time touring, inspecting and vetting so you make that just right decision.

Conclusion

In the end, you want to make the right choice in terms of the major investment and life change that comes with buying a new home. You can be more confident in your decision when you know that you have thoroughly compared and contrasted all options in your price range and thus made the right decision that will give you and your loved ones that ideal home you have always envisioned. The right home is just something that brings you joy, comfort and pride; and that makes the extra effort worth it in the end.

Today's guest post was written by Milos B., professional content writer for Incentive Properties. Milos has a very strong technical background and business acumen. He enjoys blogging about various real estate related topics.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

4 Tips For Buying A New Home

It’s important, when looking to buy a home, that you know all your options, as well as the peace of mind that you are financially stable to own a home. Experts answer the most common questions homebuyers have about owning a home for the first time.

Waiting Until You're 30?
One of the big questions on home buying is whether you should wait to do it in your thirties, when your life is more invested. Home building expert Aaron Hymas says age is not a factor. Home buyer Sophia talks about her experience. “I was a theater major in college, and I was determined not to become a starving artist. So I started my Roth IRA at the age of 18, convinced that I needed to buy a house when I graduated from college.” When it comes to buying a home, it’s important to consider the factors of the situation
.
Huge Downpayment?
Do you have a hefty down payment secured for your purchase? You should also be secured in your workplace – have a position that you are confident you will have for 2+ years, so the fear of losing your home – and foreclosure – is not an option. You don’t have to have a credit score to be able to get a home, either. Mortgage broker Russell says, “I actually preapproved a buyer just this week where the borrower has been on the job for 2 years, no credit on her credit report, 4 alternative credit references provided, and has $5000 in savings and checking accounts. This buyer will be able to purchase with a USDA mortgage and 100% financing.”

Paying Off the Mortgage Aggressively
Another option for homeowners is paying off their mortgage aggressively. The big question often is, when should they do it? Aaron Hymas says when the time is right for your family. There are many ways to accomplish this. Refinancing from a 30 year mortgage to a 15 year mortgage is one of the easiest. By refinancing a $250,000 mortgage from 30 years to 15 at 5 percent interest, you’ll save about $178,000 in interest.

However, Aaron Hymas warns you should only do this in a financially stable environment. “You’ll have higher monthly statements and less flexibility,” says Aaron, a home builder. “With a 30 year mortgage, if you have extra money you can always apply it to one of those payments. But with a 15 year loan, you’re stuck with the higher payment. While you may be able to afford this now, the ability to focus on other financial goals or a decrease in income could throw a wrench into your overall plans.”

Having Good Comparisons
It’s important to factor in your interest rate with your mortgage. You should be able to get up and choose – pick which loan program is right for you, and move forward, no second guessing yourself. David, mortgage consultant, offers his advice on choosing the right kind of interest and loan program. “You might call up Lender A, and inquire about a 20 year fixed rate. They tell you their offer is 5.75 percent. But then you call Lender B, and they tell you, ‘Our offer today is 5.875 percent, but let me ask you how long you are going to be in your home? Is this your first house? Will you live there for 20-years? Have you thought about a 5/1 ARM? Have I told you about our new Payment Option Plan?’

A loan officer will be worth their salt if they talk you into comparison, so you can choose the right plan for you. Not everyone works with one type of interest rate, or loan. You have to work with someone who can help you choose based on your life, not some general economy statement.”

It’s important when looking to buy a home, that you consider whether your finances and your work stability offer you the chance to afford that home in the long term. Work with a financial planner and a loan officer who can help you look at the long term of your life, and plan whether your children, your job, and your credit are going to affect you later on in life with the home you want to buy, and you will be on your way to successful and smart planning for the right home and the right mortgage and interest rate for you and your family.
Featured images:

Adam is a leading real estate and home building expert with a passion for writing about these issues so that consumers have a solid understanding of the ins and outs of home buying and building.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

Dubai real estate market outlook for 2013


Financial crisis of 2007-2010 significantly declined growth of Dubai real estate sector. This was a real challenging situation for real estate firms as thousands of real estate professional lost their jobs. This had not only resulted in increased rate of un-employment but it had also created uncertainty among property buyers and investors. After four years of consecutive downturn, Emirate’s real estate sector started showing first sign of recovery in 4th quarter of year 2011. During year 2012 good progress has been observed in Dubai property market. Good market recovery enable developers and investors to think positively and successfully promoted them to restart construction work on projects that had been previously suspended, whereas, investors also started investing in Dubai Property market after getting their confidence back. Moreover, key developers have launched several huge projects to deliver a large supply of residential and commercial units. It is expected that asset market will continue to grow during 2013.

Property Professional’s predictions about Dubai Residential Sector

Professional property investors have identified that residential real estate of MENA Middle East and North Africa will offer numerous golden investment opportunities during the whole year of 2013. Jones Lang LaSalle, have mentioned in 2013 Q1 report for residential sector that MENA will be the hot favorite among private investors. Prices have been continuously rising for 12 to 18 months. Ziad Al Chaar, the managing director of DAMAC properties also mentioned that real estate market will show continuous growth in year 2013, if buyers exactly know where to make investments.

Property Professional’s predictions about Dubai Commercial Sector

It has been predicted over all progress rate of market, commercial sector is also showing some level of confidence, and rises have been observed in the demand of office and retail units. But it is expected that only prime locations of city. Jones Lang LaSalle, have mentioned in 2013 Q1 report for Commercial sector that this rise in demand also improves leasing activity in office sector and significant rise of 10% has been observed in asking prices and rent rates during Q1 of year 2013. Central Business Sector has been continuously showing good progress in leasing and rent rate of office units. Whereas, other prime locations like TECOM, Sheikh Zayed Road and Burj Downtown also showed good rise in rent rates. Business Bay has also displayed positive growth in popularity and increase in rent rates, due to its recent completion of infrastructure.

On the other hand retail sector of Dubai is expected to remain unchanged for standard shops in prime super regional centers during Q1 of year 2013. Again super regional malls in premium locations like Dubai Mall and Mall of the Emirates will dominate the market in terms of occupancy level and rental values. Instead of, a huge supply of luxury malls is in pipeline, which is expected to deliver in coming years. Whereas, many existing retail centers and malls like Ibn Battuta Mall, Al Ghurair Center and Diera City Center are launching expansion and redevelopment projects.

Current Market Trends

It has been observed that investors are strongly interested to make property purchases in residential sector throughout MENA. Secondly market trends also revealed that investors are buying properties rather selling. JLL conducted a survey to describe actual market condition. The report stated that 50% of respondents show their interest on buying properties and selling of non-core assets over the next year. 34% were only found interested only in buying assets. However, only 16% respondents have opted to sell their assets.

Why Dubai sits on First among regional real estate markets?

Although positive response has observed across MENA for several residential developments, but Dubai has become the most preferred regional market in past 12 months. During 2012, Emirates economy showed excellent GDP growth of around 4.5% that facilitate investors to mark Dubai as an investment destination for this year.

Residential and Commercial Projects Showing Strong potential for Future Investments

Property investors are also showing their interested in newly completed residential projects like Spirit Tower in Sports City, Lake Side Towers in JLT, Bay Central in Dubai Marina , Al Furjan Villas by Nakheel. But investors are more confident to make investments especially in renowned free hold communities like Palm Jumeirah, Emirates Living, Dubai Marina, Arabian Ranches, Downtown and Jumeirah Lakes Towers.

Similarly there are several commercial projects, which have strong potential to attract investors and buyers. Some of these projects are Conrad Tower, DIFC, Standard Chartered Bank Building, SIT Tower Silicon Oasis, Jumeriah Lake Tower. Furthermore, retail projects displaying strong potential for making investments are International City-Dragon Mart Phase-2, Deira Al Ghurair Center Phase 2 and Al Barsha Outlet Village.

Despite of such positive market trends, it has observed that investors are still reluctant to make investments in incomplete projects. They prefer to make investments in completes projects to generate solid income in long terms.

Author Bio:
Angela Davis has been blogging for leading Real Estate Company in UAE which offers commercial and residential Dubai property services in whole over UAE.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

What about Home Security


Your house can never be too safe, no matter what time of day. When we think of burglars, we tend to imagine a ski masked-man, clothed in black from head to toe, who breaks into houses in the dead of night. The truth is, your average burglar probably looks like every other person in your neighbourhood. Except this one happens to make a living out of breaking into your house on your average workday, weeknight, or weekend. There is no time of day when your house becomes entirely safe from these home breaking culprits, nor are there any standard home invasion practices. A burglar might not even need anything but a half open door to break into your house.

In the US alone, a new case of burglary occurs every 15 minutes and causes an average of $1,725 worth of property loss and damage [Sources: McGoey, FBI]. Burglars are not burglars without a reason. What separates them from your common thief is that these crooks are so adept in exploiting the security weaknesses of a house.  While some weak points are obvious like faulty locks and broken windows, others are barely noticeable. For these less obvious weaknesses, here are few fixes you might want to install into you sweet home.

Home Alarm System

While installing a home alarm doesn’t necessarily make your house impenetrable to crooks, it does however provide a better peace of mind. While it doesn’t necessarily stop anyone from breaking into your house, it does make sure that help arrive much more quickly.

Home alarm systems are pretty much foolproof and straightforward to use. You install it and activate it. Trusted people get the pass code, while those who force entry trigger the alarm. The thing to remember with home alarm systems is that they are most effective when they are most obvious. Put out a sign announcing that you have a security system installed, this alone is enough deterrent against intruders.

Keep Your Whereabouts Off Social Media

You leaving the house is no less than a sensitive information. Crooks do not break into people’s houses at random. Even the simplest act of burglary requires the perfect timing, and the perfect timing for breaking into your place is when you are nowhere near it. Keep your vacation plans to yourself. While it makes you feel good to post a status letting your friends know that you are on a 2-week vacation in Brazil, it practically announces to every burglar with mean intentions that your house is up for grabs. Instead of broadcasting your vacation plans on social media, asking a trusted neighbour or two to keep an eye on your place might serve you better.

Burglar Proof Your Locks

Essentially, access points such as doors and windows are also your last line of defence against a break in. Needless to say, installing locks on every window if possible is crucial in keeping intruders from ransacking your home. Installing a burglar-proof glass on your windows is also among your safest bet. Doors, however, are a little bit more complicated. While door locks help, an intruder might easily get inside your place by kicking the door wide open. To increase the level of security that your door provide, it is a good idea to make sure that it is a windowless door that is made of either solid wood or metal as these materials hold better. Installing both a heavy-duty strike plate and a dead bolt also go a long way in keeping marauders out. Also, make sure that you keep your doors free from shrubbery and flowery landscapes as it is not unheard of for crooks to hide behind trees, shrubs, and bushes.

Guest post written by Joel Mayer who is an Australian freelance writer that writes about rental properties and about brands like www.taylors.com.au.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

Energy Efficient Mortgages Made Simple (EEM)


What is an Energy Efficient Mortgage?

Energy efficient mortgages (EEMs, sometimes known as “green mortgages”) are loans that allow homeowners to finance energy-efficient upgrades for their current home or in a new home purchase.  The cost of the upgrades is rolled into the mortgage so that multiple loans are not needed.

An EEM allows lenders to extend borrowers’ debt-to-income qualifying ratio, which means that they may be able to take out a larger home loan than would be allowed with a traditional mortgage.  With an EEM, upfront costs may be higher than with a typical home loan.  The reason for this is because improvements need to be made to a home to make it “energy efficient”.  Despite the upfront cost, an EEM should save homeowners money in the long run through lower energy costs.  In order to qualify, the energy efficient home must undergo an energy audit by an approved inspector. 

Conventional EEM:

A conventional EEM is the most commonly used green mortgage option.  With a conventional EEM, the lender will be able to credit the borrower’s income by an amount equal to the amount of energy that will be saved with the renovations/upgrades.  For instance, if a borrower makes $75,000 per year and stands to save $2,000 a year in energy costs by upgrading their home, their income will be $77,000 for underwriting purposes.  This enables the borrower to a more expensive home than they would otherwise be eligible for.   

Federal Housing Administration (FHA) EEM:

FHA EEMs provide mortgage insurance to a borrower who is looking to purchase or refinance their home and incorporate the costs of energy efficient improvements into their mortgage In order to qualify, the borrower must meet all the normal underwriting conditions for an FHA loan.

With an FHA EEM, the borrower can borrower the lesser of:

The total cost of the improvements plus report and inspections; or

The lesser 5% of the value of the property, 115% of the median area price for a single family house, or 150% of the Freddie Mac conforming loan limit.

In addition, the energy improvements must cost less than the total amount saved over the life of the improvements.  Further, the improvements must be made after the loan closes.  The funds for the improvement are put in an escrow account and released the borrower when the loan closes.

Veterans Administration (VA) EEMs:

These green mortgages are available to veterans who qualify for financing through the VA.  VA EEMs allow buyers to upgrade an existing home.  Typically these loans are capped at $3-6,000 maximum.

Benefits of EEMs

Energy efficient mortgages and green home buying have been around since the early 1990’s but were used rather infrequently so many lenders were not aware of them at the time.  Energy efficient improvements are starting to become more and more common as current home owners and future homebuyers begin to realize how much money they could be saving on energy costs.  Not only are the green improvements environmentally-friendly, but they also help homeowners save money.  Since mortgage interest is tax-deductible, an energy-efficient mortgage can be a cost-effective way to finance any home energy improvements instead of using using a credit card, bank loan or cash, which offer no tax benefits.  Depending on the amount of work done in order to upgrade a home to energy efficient standards, new home owners may be able to get a lower mortgage rate on their home based on how energy efficient it is.  In addition to saving on energy costs, green improvements can increase the resale value of the home down the road.  If you’re looking for a way to make environmentally friendly home upgrades, an energy efficient mortgage would be great for you. 


About Bio:
Mark Scheets is a writer Total Mortgage Services.  For the past fifteen years, Total Mortgage has combined the personal service and integrity of a local lender with low rates, convenience, speed, and know-how of a national lender.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

5 Important things about mortgage when you want to purchase your first house


Still living in a rented house? Are you frustrated paying the rentals every month? If yes, then why don’t you think of buying a house for yourself? It’s not that easy to get a suitable home in this competitive market. While buying your first house will require a lot of hard-work, similarly you will have to search properly to obtain a suitable mortgage. A mortgage loan is actually the biggest loan you take out in your life. As such, make sure you get hold of the one that will cost you as less as possible.

5 Things you should know about mortgage loans

Here are discussed 5 things that you should know about mortgage loans.

1. Obtain the right kind of loan - There are several kinds of mortgage loans available. You will have to very careful when you decide to take out one for buying your first house. If you want, you may compare between the different kinds of home loans before you select one. This way, you’ll be able to obtain the most suitable mortgage loan according to your requirement.

2. Negotiate for a better interest rate - Has your lender offered you the mortgage at a high interest rate? If so, then you may talk to your lender and tell him about your present financial condition. You can negotiate with your lender for a better rate on the loan. For this, you need to have good convincing power. Only then, you'll be able to convince your lender for reducing the interest charged on the loan.

3. Choose a trustworthy lender - You must be very careful when choosing your mortgage lender. With several lenders in the loan sector, you may come across many of them who are not at all genuine. As such, make sure you collect sufficient information about the lender whom you’ve chosen. If possible, get in touch with the previous customers of the mortgage lender you have selected and try to know their opinion about him.

4. See if fixed or adjustable rate will suit you - Being a first time home buyer, you may get confused if fixed rate or adjustable rate may suit you. What you can do in this situation is to consider the pros and cons of both of them. While fixed rate mortgage means you’ll be paying fixed interest on your loan throughout the loan term period, in case of adjustable rate, the interest rate charged on the loan may increase or decrease as per the mortgage market.

5. Read through the clauses of the contract - When choosing a mortgage loan, you should read through the clauses of the contract. See if all the terms and conditions mentioned in the agreement are just what your lender has told you. In case you find that you aren’t clear with anything mentioned in the contract, talk to your lender immediately and make it a point to get it clarified.

Thus, keep in mind the above-discussed things when you are buying your first house.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

What can affect the property’s prices


An important thing for property buyers to consider is the factors which can affect the prices of their potential assets. In particular, you need to consider the surrounding area in order to get an indication of the land value. This will help you in when you bargain with residential or commercial real estate agents in Brisbane. Below are some of the factors that can affect the price of your property.

Site proximity
One of the main factors is the proximity of locations which are essential to the tenants. This includes the local grocery, hospital, school, and place of work. Proximity to parks, libraries and certain commercial centres can also affect the price of your property. On the other hand, there are other sites which can negatively affect the property price. This may include a local landfill or a busy freeway.

Safety and security of the area
Many people are concerned with the crime rate in their local area and will avoid those that are considered dangerous. Properties which can provide safety and security to its tenants are highly valuable. Examples of these are suburban community with good police presence and security coverage.

Values of surrounding properties
Neighbouring property prices can also impact the value of thelot you are planning to buy. This is always taken into consideration when the owner enters into negotiation with you. It is a good strategy to take note of the average pricing in the area as this will give you leverage.  Ideally, you want to pay a price that is similar to the surrounding properties. 

State of the property
Another factor which is considered by most people is the current state of the property. Even if it is in an area with a higher land value, a neglected house or building is less appealing to potential buyers. Owners may choose to renovate their property order to increase its price. Buildings which require repairs and repainting can be less appealing to potential buyers and can contain some hidden damage which can affect the new owners in the future.

Demand of vacancy
The demand of vacancy usually affects properties within large cities. This is equal to the number of available job openings in a given area. For example, a newly constructed office with available jobs can raise the price of liveable properties nearby.. A transition from one school year to the next is a time when the demand of vacancy is low. Most students return to their parent’s home and are less likely to be looking for a liveable space near their college.

Remember to consider all of the factors above when negotiating the price of your next property.

Author By-Line:

Katherine Flowers is passionate about design concepts, commercial real estate and well-being. She does freelance writing for several clients including First Commercial Realty.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

The Future of the Commercial Property Industry

Importance in understanding the current trends of the industry that will shape-up its future can never be overstated. This world is filled with book store owners and record store owners who thought that the new technology will not affect their business, unless they found themselves wiped out of the market space. Therefore understating the future market needs can help you in achieving a leadership status in the future of that industry or lead you to ruins if you ignore the writing on the wall. Like every other industry commercial property industry is also going through significant changes in its way of operations.

Impact of Collaborative Working on Commercial Property Industry

• Concept of Co-working Environment

With the number of small start-ups increasing with every passing day, there are many individual who want just a real-estate footprint for the purposes of address. With the use of technology, the amount of workforce required is decreasing and creating communication channels with customers are getting easier. These facts are resulting in the companies which have small work force and therefore which require less office space for managing their operations. This has given rise to the concept of Co-working, where several companies use the same commercial space to satisfy their office needs.

• Benefits of Co-working for Companies

Buying a commercial property involves in it certain amount of risk, which depends on many factors. What small start-ups understand is that by coworking they are reducing the amount of risk they create. They are not indulging in any activity that resulting in any asset creation which could be termed as a financial strain on their operations. Therefore they are able to achieve same working in their operations as they would have, if they would have rented a separate office space.

• The Growing Trend of Co-working

The idea of collaborative working was most prominently seen in the UK among all the European countries. Due to the large amount of space that London is offering for collaborative working of the companies, it is leading the change in this industry. For example, Google in the March 2012 opened in the heart of London a coworking space. This campus built by Google which is located in the Tech City is breeding ground for several start-ups and is allowing them to prosper by learning every day. This asset light solution for small and agile companies is adding strength to the growth of this trend.

• Future Impact of Collaborative Working on Commercial Property

As communication with potential customers is getting easier with the advent of internet, there are more and more start-ups who are taking shape every day from the ideas of individuals. As the start-up costs seeing a decline, it is not difficult to guess that number of start-ups would increase. So will the trend of collaborative working in the commercial real estate market.

Conclusion

People involved in the commercial real estate business, whether as a constructor of the property or as a broker. They must understand the importance collaborative working on the future of commercial real estate business.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS

Real Estate Investment Tips That Work

Buying low and selling high is one of the best tricks which you must know when planning to invest in real estate. Basically, successful investors usually make mega profits through buying properties at very low prices and selling them at competitive prices once their prices shoot up. Other tricks which you should have at the back of your mind when venturing in this kind of business are listed below.

1. Plan ahead:
List all your real estate investment plans and go through each one of them carefully. Some of the things which you should look at when coming up with a list include the amount of money you are willing to spend and the exact places where you are planning to make serious investments. Basically, by doing so, you will be able to fulfill each one of them well since you will have a good idea of what you are required to do.

2. Have an exit strategy:
While investing, have a good idea of how you will make a full financial recovery. Basically, before you buy or construct a house, know what you will do with it if you are not planning to keep it for good. Some of the questions which you should be able to answer when investing in any real estate market include:
·         Will I buy and sell the property immediately?
·         How much will I make once I sell the property?
·         Where will I get reliable buyers once I make a purchase?

3. Work as a team:
Before you start investing, look for people who have the same interests as you and ask them to join you in your investment plan. A good team can basically help have a better understanding of the different real estate markets around the world. A good team can also help you make better investment decisions and at the same time help you raise the required amount. Some of the people who should be included in your team are general contractors, real estate agents, real estate attorneys, financial lenders and marketing assistants.

4. Invest:

Apart from planning on where to invest, set the wheel in motion by investing. According to experts, serious real estate investments usually lead to serious profits. Thus, to end up making lots of profits, you must first invest irrespective of the risks involved. While investing, spend time doing your research i.e. reading financial journals, going through different blogs that talk about real estate or simply visiting different active real estate forums and participate in the discussions. This move will help you become a better investor in that, you will be able to learn many things concerning real estate investment.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS