There’s more than meets the eye when it comes to switching over from a renter to being a homeowner. Owning your home means much more than being approved for a home loan and paying off the monthly payments as the years go by.
Simply put, there are other costs that are involved in being a homeowner, and here are 3 hidden costs associated with home ownership:
#1: Closing Costs on your Loan
Closing can literally amount to thousands of dollars on your home loan when it is finally settled, and the amount is usually negotiated while differing from state to state. Sometimes the buyer may have to come up with the cash or the seller will absorb the costs.
#2: Home Maintenance & Repairs
Almost every homeowner is aware of the fact that costs exists, and vary in amounts, depending on whether you buy a home in prime condition or which needs a bit of repair. Don’t be surprised if you have to deal with repairs almost every other year. So, it’s a good idea to keep some money aside for repairs in order to keep your house well-maintained.
#3: Property Taxes
Counties, municipalities and school districts all depend on property taxes paid by homeowners. It is usually about 1.38 percent of the value of the home at an average in the United States. Therefore, it’s a good idea to know how much your home will cost in terms of property taxes and set aside money for that very reason.
When a home is on sale, the usual process is to hire a realtor and pay him a commission to sell your home at a good price. But what if you don’t want to pay that commission and do it all by yourself?
With the possibility of not being able to find any good buyers, there is always the likelihood that you might get frustrated and give up.
However, if you play your cards right, you can easily sell your with no need of expert assistance. So here are 3 tips that will help you do so:
#1: A Realistic Price is advisable
Don’t make a price based on what you feel your home is worth but actually come up with a number based on market fluctuations along with the prices of similar homes in your neighborhood. Also be aware of the terms of sale.
#2: Prepare the necessary documentation
Without a doubt, you have to put together several legal documents when you are selling your home. Some of them include the purchase contract, seller disclosures, loan application and property profile and so on and so forth.
#3: Conduct research on prospective Buyers
Prospective buyers are those who can afford your home, and if you know your buyer and information pertaining to his finances such as credit standing, job security, debts, liabilities and salary, you’ll also know how to negotiate to your advantage when you show them your home.
#4: Don’t move out
No matter what you do, don’t move out of the home that you’re trying to sell. Firstly, it will tell the buyers that you need to close the sale as soon as possible. Since the house would be empty, much of it would look empty and unappealing.
A meeting with a seller means taking time out of your busy schedule, from your real estate business, to discussing the possibilities of being able to make a sale for a client. Of course, this doesn’t happen all the time, since there are times when the property that is being discussed is a match for your business.
So how do you profit from such a meeting?
Here are 3 ways by which you can profit from every meeting with a seller:
#1: Use your Contacts
It doesn’t matter if you won’t be able to profit directly from this meeting especially if it isn’t a fit for your business. How you can indirectly profit from it is by referring the client to someone in your network who can actually help. In good time, they will return the favor with buyers if certain deals fall through.
#2: Collect Information on Local Market Conditions
Again, if you can’t seem to make a profit from the meeting, you can gain valuable information and perspective on local market conditions by asking question such as how long properties are staying on the market, the types of properties that are in demand or not, what rental and resale prices are and the seller’s opinion about the market.
#3: Spend some time thinking how you can improve meetings with clients
After every meeting with a client, make it a point to review what went well with the meeting and what didn’t. Also, come up with a plan as to what you will do differently the next time around. Not only will this build your reputation but your conversion rate should improve over time.
Despite the lowest rates as reflected in the market today, there are still a number of ways by which you can still make 10 percent of return.
However, it must be pointed out that it isn’t necessary in any particular order but merely a list of things that can help you get there.
Here are 3 ways by which you can make a 10 percent of return:
#1: Invest in yourself
No matter how cynical you are of education, it’s way better than ignorance. The dividend that you will receive for getting an education is probably much more than you can imagine. Of course, it has to be the right education. In other words, one that shows you how to excel, take calculated risks and strive in order to get ahead is one that counts – one that has been tried and tested in the real world.
#2: Invest in a note
Investing in discounted mortgages are a sureshot when it comes to offering you safe rates above 10%. It won’t be a complicated process especially if you can complete the paperwork yourself or even have a team of pros handling it. Look for a National Note Franchise in your area to help you with it.
#3: Purchase from a broker
Most note buyers in the market tend to be people who buy notes at a particular price and sell them for another. An attractive yield is possible if you deal with the selling and buying of these notes. Make sure you invest with a discounted mortgage broker instead of a loan broker who deals with new mortgages – the margin of profit is greater.
By Plan B International
For many, properties and real estate are assets that people only own one of. Since you only live in one house at a time, why would you need to but more houses or apartments. For those who are richer, they may choose to buy a second house and treat it as a vacation home, but that’s it. Many do not consider the possibilities and potential that property has in making money for its owner.
Houses with a profit
Just because you buy an apartment or a house, it doesn’t mean that you yourself have to live in it. That is not the case at all. Have you ever considered that the house or apartment you just bought can be used as a way to earn money? You could spruce up the place a little bit and make it look way more valuable than the price you got it for and resell it to someone else. Or you could use that house and rent it out!
The potential of south Florida
South Florida is a prime location for real estate these days. Properties in Miami are soaring in terms of value so if you’re able to get one now, I suggest you do so as the value will only increase from here. you can purchase certain houses in Miami and while you might not be able to live in them yourself, you caould always rent it out visiting tourists, and crazy college kids on spring break.
Plan B International is a company with an award winning staff and supreme leadership. They sell apartments in Miami at great prices and awesome deals.
By Dream Finders
If you’ve ever been to the Caribbean, you may have dreamt of someday owning a home down there. Despite how beautiful the islands are down there, it’s not very hard to find Caribbean vacation homes for sale. In fact whole companies, like Dream Finders, exist solely to help you find the perfect home in the middle of paradise.
But you may still think that that sort of thing is only an option for millionaires and that someone like you or your family would have no hope of achieving that dream. Well you’d be wrong.
There are many ways that a home in the Cayman Islands could easily be yours. For one thing, consider how much money you can save while you’re down there. The Cayman Islands have no taxes! You won’t get taxed on capital gains, your property or your income. So you may want to do some business while you’re down there and save a ton.
Furthermore, keep in mind how many other people want to live there too. You’re situated right on the best diving the Western Hemisphere has to offer, yet you’re only 3 hours from the continental US. This means you could rent out your Cayman Island home to vacationers and make money on it while you’re back home planning your next vacation. It could even help you pay off the property!
Dream Finders helps people find property in Grand Cayman or real estate in the Cayman Islands so they can claim their own little piece of heaven.
By Susan Weisman
As you grow old, you start wondering how you plan to spend the remaining years of our life. Where do you want to spend the remaining years of your life as an old man or woman? More often than not, the answer will be in a luxurious home where youth feels like eternity. If you are able to purchase a luxury home, you feel like you have succeeded in your career and now is the perfect time to enjoy the fruits of all your blood, sweat, and tears. The question now is, how do you want your luxury home to be?
To some, especially those with a family, a house and lot is what qualifies as luxury. There are plenty of houses for sale in tucsonarizona to choose from depending on your budget and your preference. To others, those who live alone or have a small family, may opt for a more vertical approach. Fortunately, there are also a wide variety of condos for sale in tucson to choose from. Choosing a home isn’t that simple however, life savings are on the line and one wrong purchase can make you miserable. This is why there are brokers, such as Susan Weisman who offer professional help to those who seek to purchase luxury homes in Tucson. She can be contacted at 4051 E. Sunrise Dr. Ste 101Tucson, AZ 85718 Phone: (520) 465-2020. Susan Weisman is a specialist in real estate in Tucson. Let the expert handle your task, and expect nothing but the best result.
Susan Weisman specializes in tucson real estate for sale as well as various luxury homes in tucsonaz. Her office is located at 4051 E. Sunrise Dr. Ste 101Tucson, AZ 85718 Phone: (520) 465-202.
When you’re a first-time buyer of real estate, the transaction involves a number of fees, terms sound alien apart from other requirements.
Title insurance is one such cost in which buyers don’t have any say since they either this type of insurance or they will not be able to get a loan.
But it’s a good idea to understand what ‘title insurance’ is before you go ahead and purchase it.
Now when you purchase a home, it’s a good idea to check whether or not the seller has full and legal title to the property.
Usually, the closing party confirms this by going to the local property records office so as to research the history of ownership.
However, it gets tricky here. Even if the records are accurate they can still be wrong for a number of reasons.
For one, the person who researched the information might have got it wrong. Other reasons might include not paying taxes or even simple bills related to the property.
In particular, if the person who owned the property a number of years ago might have had another wife that wasn’t included in the property records. In this case, you might get into legal issues and as a result, might even lose the house.
So, for this reason, you will have either two types of title insurance: lenders’ & owners’ insurance.
Both these types will protect the owner’s equity on the property as well as the mortgage amount that the lenders offer the buyer or the owner.
That said, all buyers in the United States except for Iowa must have title insurance. For Iowa, if there is a title error, the state covers the costs.
The Cayman Islands offers countless benefits to the hundreds of thousands of tourists who visit every year. That’s probably why so many keep returning and why it’s the number one tourist destination in the entire world. But there are other reasons to enjoy the Cayman Islands besides, for example, that they have the best diving in the Western hemisphere.
While it’s great to go back to the Cayman Islands as much as you can, imagine if you had a permanent residence there. Cayman properties are a hot commodity, so it’s not like you’d have trouble finding one for sale and think of all the benefits.
For one, if you had a Cayman property, you’d always make time to return. All the excuses that get in the way of a vacation would disappear.
But while you’re not enjoying the beautiful sand and sun, you could rent out your property to other people looking to do the same. So while you’re at home planning your next trip, you’re also collecting checks as a passive business. Use that money to help pay off your investment!
Did you know there are absolutely no taxes down there either? It’s true. You won’t find any property taxes, no incomes taxes, there aren’t even capital gains taxes! Between your real estate investment and all the other money you could make down there, having a home in the Caribbean could turn out to be one of the best decisions you’ve ever made!
Article submitted by Dream Finders. They help people find Cayman Islands real estate for sale.
There are good and bad lenders. There will also be times when they will offer loans, rather unscrupulously, to the elderly or those with low income or even those with credit problems.
Unfortunately, if the loan is too good to be true, then it probably is and there are signs that can tell you whether or not you’re about to duped into accepting a bad loan.
That said, here are 3 clear signs of a bad loan:
#1: Wants you to put false information on your application form
Unfortunately, there isn’t such a thing as a little white lie on your application form. Sooner or later, this leads to a fine or jail time. In some cases, you might have to pay the loan back in full. Worst case scenario – you might find yourself on the street.
#2: Insists that you borrow more money than you need
The reason why a lender might want you to borrow more money is only to increase his commission. Unfortunately, you’ll have to shell out more of your money if you do give in to their persistence. Hence, it is advisable that you stick to just as much as you need.
#3: Makes you accept monthly payments than you can afford
When placed in this situation, think about whether or not how much you make can easily accommodate a new or larger mortgage with a little bit of money kept aside for emergencies. Simply put, if you are spending more than you earn, you’ll be in trouble sooner or later.
The world’s population is currently increasing at an exponential rate, but with this exponential growth, also comes exponential development. New inventions are being invented every single day and we don’t even know about it yet. The world is changing as more and more organizations are formed each with a goal in mind, each requiring its own space of operations. Business centers are slowly increasing in neighbourhoods with a thriving economy to be able to support their operations. With that said, more and more properties for sale are slowly increasing their prices as precious space for whatever use have increasing demands.
The law of demand states that as the amount of demand increases, so does the price, meaning the prices of property with low supplies are getting valued higher and higher, and that gives you a business opportunity. Buying real estate low then selling it high once the price is right is not only easy to profit from, but can be cheap to do once you find the right avenues and strategies. One prime location is that of Florida, demand for quality developed real estate is high, and there is no other property type to move than that of apartments Miami.
The city of Miami has a thriving economy, and is currently being developed as a business center of the United State of America. Investing in an apartment today while the process hasn’t finished yet ensures that you get the best possible price for your property, possibly multiplying it two times over as time passes.
Plan B International is an online service that can help you search for real estate in the Brickell area or anywhere in Miami, Florida.
When you hear someone lives on a golf course, you rightfully imagine a beautiful home and a beautiful neighborhood. Of course, it’s hard not to think about the easy access to 18 holes of golf either. For people who live near Ridgewood country club, this is their reality. If you’re in the market for a new home, continue reading to learn more about Ridgewood real estate.
Ridgewood is more than just a beautiful village. It offers plenty more to its residents. For example, it has an amazing school system if you have kids or are planning on having them soon. Their public schools are some of the best in the state (24th out of 316) and even feature programs for those who have special needs.
Best of all there are all kinds of homes in Ridgewood for you to choose from. Whether you need a smaller, more affordable home like the ones in Cape Cod or you’d prefer a beautiful old Victorian, Ridgewood has you covered. There is currently new construction underway that will further add to the village’s portfolio.
Besides the nearby golf course, Ridgewood also has a number of lakes in the area, amazing restaurants and the Atlantic Ocean itself is less than an hour’s drive away.
If you’re in the market for a new home, you owe it to yourself to see what Ridgewood has to offer.
Article submitted by Marron Gildea Realtors. The company helps interested people find the home of their dreams by connecting them with knowledgeable Marron Gildea Realtors.
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Thanks to a monopoly that real estate agents have with the Multiple Listings Service, one has to still deal with them as an investor, since a number of potential deals are available to them.
But it will be difficult as their interests lie solely in getting a commission as quickly as possible and which is why they prefer buyers with cash, good credit and strong buying power as we know it.
So, here are 3 tips to remember when dealing with real estate agents:
#1: Offer a reasonable amount for Earnest Money
Offering $50 in earnest money will result in an agent not taking you seriously at all. That’s just the way it is. Probably, a minimum cutoff would be as much as $500 and that would get their attention. If are making a solid cash offer, increase that amount. However, if you are afraid of losing it, do it by mean of promissory note.
#2: Offer a short closing date
Another way by which agents will take you serious is by offering a fast closing date. Just the idea of a commission check in a few days will tempt them more than anything else. Even if the agent gets another offer whose closing date is further away, they will still recommend your offer to their client for this reason.
#3: Appeal to their greed
Let’s face it: everyone is in the business of real estate to make a good amount of money. So, if the deal you are offering has little for the real estate agent, there’s no reason for him to make things work for you either. So, for this, make sure you leave an incentive for the real estate agent so that it’s a win-win situation. Simply put, appeal to his greed if one should call it that.