Segmentation in the Spanish Property Market

Reports on the death of the Spanish property market are premature. The market is starting to recover slowly after two years of falling prices and the patent lack of lending from the banks. As the banks are now loosening up their lending for anyone with some money to put aside as deposit especially on their own repossessed stock they are wanting to finance 100% where possible to get the liability off the books.
The recovery is not everywhere though and not all types of property are recovering and I certainly do not expect to see price rises any time soon. With that in mind, I will give you some examples where I do not see falls abating currently and then tell you what a prime property consists of. This segmentation of the market is a very important concept to understand because without it you treat all properties in the same way and that is not how to look at the Spanish Property market, it is not a monolithic whole.
For a property to be considered "prime" it must have an intrinsic value which is easily measured. "Sub-prime" property does not have this same intrinsic value. Sub-prime is a lot more prone to sentiment and demand within the market. There is little or no demand for "sub-prime" property outside the big cities and their periphery. A good example would be a series of properties built on an estate where everything is similar inland and away from the beach with few facilities around and where everyone must use the car for all journeys. (It is impossible to segment the properties on this estate, they all fall into the same category of sub-prime). It is likely that transport costs will rise bit by bit over the next few decades and these properties will become less and less desirable as a result. The opposite is also true of course meaning that prime properties with little distance to travel in conurbations and with good facilities become more desirable. This will mean that their prices rise while the sub-prime group drops increasing the disparity in prices between prime and sub-prime.
Spanish coastal properties will be another sector to suffer if they do not have rapid access to the coast. The description "coastal property" has been abused so that it includes properties even a couple of miles or more from said coast and therefore it is easier to make a segmentation in this area. My own opinion is that if you cannot walk comfortably to the beach with all your things for a day by the sea in hand then you do not have what can be termed a coastal property. First line property with uninterrupted views of the sea and even second and third with good sea views will hold their value quite well because evidently they have a prime position and there is a limited supply. Anything further back can no longer be considered prime and the segmentation is evident in the disparate prices.
What type of property will hold its value? Large city centres are good bets as people move ever more so into cities and large towns to look for work. These areas keep their value as the demand curve outstrips the supply curve in almost every case. A city centre flat is a city centre flat and nothing can create more space in those cities meaning there are limited numbers available because of planning restrictions and replacement new for old. The centre of a city therefore is a segment. Spanish cities have no more land available for development in the centre of so there is very little possibility of supply outstripping demand if people continue moving to the city,something that continues to be the trend for the whole of Spain.
Other properties that will hold their values are those that have a little something special, spectacular views, fantastic and timeless design, built in and unobtrusive security features, shopping and leisure facilities and more. When you wrap all of these things up into a whole in just one property then you have the perfect property investment which is bound long term to hold its value and you also get quite a nice place to live too. It is the perfect segment.

Graham Hunt is an estate agent in the Valencia region of Spain with a decade of experience in the field and a two decade history in Spain. Some examples of perfect property investments can be found on our website of course, Valencia Property, but the same applies all over Spain in the prime areas.
Go to the websites http://www.valencia-property.com and http://www.houses-for-sale-in-spain.net as they are considered to be filled with high quality, great value properties and more importantly excellent information about the process of buying and selling property in Spain and lifestyle issues in Spain. If you require more information then send an email by clicking on the top of the first website in this resource box.

Housing Market - Taking Stock For 2010

If you bought a house at the beginning of this year then you're probably quietly pleased with yourself - house prices have unpredictably gone up and you probably would have secured a good mortgage rate. If you've sold your house, then no doubt, you're glad that you've sold and have moved on. If you're sold and have bought another property then at least both sale and purchase price have reduced. If you've sold and not bought then you've probably lost money - for the time being.
Sometimes you just have to sell your house be it through repossession, divorce or a job loss. It's very tough to lose your home for financial and personal reasons. Making a house your home, whether you ow it or rent it, is key to settling in a new place. But still losing money on your house is grim because it's usually thousands.
The FTSE is on the up but the economy as a whole is still dire. Economists are still fearing a double dip. Confidence has been rightly shaken by the credit crunch and before any boom and spending sprees there's going to be cuts in the public sector to curb the country's massive debt. In the private sector companies are tightening their belts to make savings and so more redundancies are likely and mid-sized to smaller companies are finding it difficult to find finance from banks. As a general rule people are wary and are keeping back reserves for a rainy day - that's already here but could be here for some time. With less spending and investment there isn't much room for growth.
So what does this mean for housing? People need to move and so there will be always be a slow market of sorts. But house prices are not expected to continue to increase. The early part of the year will probably see some seasonal price rises or could stay flat if supply increases to meet demand. But come the general election and the second half of the year, house prices are likely to fall again. And following on from there, a new government will bring uncertainty and change which will in turn leave people wanting to stay put rather than up sticks.
If you are thinking of selling do it as soon as you can after the New Year. Once you sell then either buy or, if your situation and nerve allows, consider renting until some months after the General Election. If house prices do indeed fall you will be a cash buyer, with no chain and be in a good position to make a low offer. It's a risk of course and it's always more comfortable to simply settle into your new house without thinking you'll need to be moving again. But as with everything you'll need to weigh up the pros and cons at the time - by then the situation may be clearer.
In the latter half of the year, if you can get both the financial backing and a low enough purchase price, it may be a good time to consider buying a property to rent out - providing you see it as a long term investment as there will be lots of bumps a long the way.
Good wishes for a happy 2010.

Debbie Morgan writes for Wheres My Property, the site that finds property for sale and Renovate Alerts, the site that finds property to renovate.

Cash Management For the Multifamily Property

Multilevel scrutiny assures successful cash management. The key areas are:

1. Capital project spending,
2. Day to day variable expenses,
3. Payroll expense,
4. Petty cash,
5. Fixed costs,
6. Integrity of cash accounts, and
7. Maintenance inventory needs

Capital projects is reasonably simple. The operator must have firm fixed detailed budgets for these activities. To assure value, a bid process that solicit responses from 2 or 3 proven firms is a key component. Next, the operator's in house staff often can supplement the activity to significantly reduce costs. In short, the least expensive approach is normally a blended in house operations contribution to the contractor. For example, in house painting resources will normally improve bid prices by 50% or more over the contractor sources. For large projects, the Company should augment with additional temporary salaried support to gain the potential efficiencies. Next, before and after photos of all work combined with manager and maintenance technician inspection of all completed work should be a requirement for final payment.
Day to day variable expenses should be driven from an operating budget produced by a cooperative effort of property staff, the management company and the investors. Supporting this, to the extent possible property managers should not have the authority to commit contracts without either investor or manager supervision. Additionally, all management should be compensated to some degree based on the spread between revenue and expenses. This step goes far to assure that the best value is achieved. Overlaying this, the management company should develop expected costs for each type effort protecting the Company from gouging by contractors. Finally, contracts for ongoing service should require multiple bids and should require regular rebidding. Finally, management should be working to standardize approaches to reduce ongoing costs such as different materials that reduce ongoing costs, etc. to steadily manage costs down and over time dampen expense growth. Thus cost control is a first step toward this part of cash management. The second part is requiring checks to be written outside of the property and requiring management oversight as a sanity check on costs.
Payroll expense requires a straight forward review of time sheets by multiple managers combined with a review of the taxes calculated. Following up this, checks should be audited by the internal staff from time to time after cancellation to assure that checks actually were written and cashed as expected by the intended authorities.
Petty cash should require collection of receipts for use and submission of receipts before replenishing the funds. This combined with budgetary limits on these funds will generally prevent abuse.
Fixed costs are simpler in that they are to given sources such as local taxes, insurance, debt service. Because of this there is little ability to pilfer funds from this area. However, assuring these items are paid regularly or appropriately accrued is a critical step managing the multifamily investment.
Integrity of cash accounts is one of the largest challenges. The surest method to protect accounts from fraud is to institute several key items:

• Require multiple signatures on checks,
• Require the accountant and other responsible financial persons to take regular vacations that will require others to assume these responsibilities,
• Have an outside accountant check the accounts and assure that the numbers are making sense at all levels,
• Audit accounts randomly but on a regular basis

The last area to discuss is maintenance supply accounts. While not directly a cash account, the use of an inventory system is a critical step to assure that supplies are being used appropriately on the apartment complex and that this can't become a point of abuse around ongoing expenses.
Finally, the Company should combine all of these efforts with accounting support from a resources that can protect the business from other sources of financial abuse. Fraud management requires a watchful eye for groups attempting to bill the company for services not received and for other banking weaknesses that may result in cash losses.

Blake Ratcliff's company offers a full range of due diligence support.
Due diligence skills include:
1) markets,
2) submarkets,
3) comparables,
4) property condition,
5) improvement and operations modifications, and
6) property inspection.
Services:
1) report support,
2) appraisals,
3) investment structure,
4) business planning,
5) financial modeling,
6) debt and equity financing,
7) accounting and financing planning, and
9) management / systems planning and oversite.
http://multifamilyduediligence.wordpress.com/ - our blog focusing on due diligence and investment issues.

Where is Real Estate Going?

As a Baby Boomer, I remember and experienced the cycles of the economy and the affects upon the real estate market. When I started real estate in the early 1980's, the economy was just getting through a recession. In December 1982, unemployment was at a high of 10.8%. By 1985, it fell to 7.3% with little movement in prices. Sometime in this period from 1984 through 1986, real estate started to boom, with prices souring. As a real estate agent during this time, I remember the phones in my office were ringing off the hook, with people calling to buy a house. There was no shortage of buyers in that market and it was a true "sellers' market." People were paying close to full asking price because they believed that the market was going up and that they could sell it right away at a profit.
The economy was recovering and unemployment in these years was good. Interest rates, although high in this period, about 12% (down from a high of 18% in 1982) for a fixed 30 year term mortgage was easy to get, as compared to today's strict standards. Then, in 1987, there was the stock market crash. October 19, 1987 is referred to as Black Monday. This was a world stock market crash and the DOW dived by 508 points in one day. Everybody believed that the market was bad, so people started to be concerned about real estate as an investment. Prices started to level and eventually fell. This slow period for real estate lasted from about the early 1990's and continued through the late 1990's. There was a Saving and Loan crises during this period where many small savings banks had either closed or were merged with more solvent banks.
During the period in the mid 1980's, the market for coops and condos also started to surge, as most apartment building owners had converted their rental units to coops. At some point in the middle 1990's, there was a glut of cooperative units and the price of units sold to consumers had plummeted to prices far less than what they paid. By early 2000, the market was again steady with the price of houses starting again to climb, reaching a high peaking point by 2007. We all now know what happened since then. The market burst like a bubble: banks were giving mortgages to just about anybody who could breath, with no income or credit check loans. And the banks did this because they believed the market was going up forever.
So here we are again and back to the first question: Where is real estate going? The answer to this in part depends on what the average American believes, because we are all smart. We make our decisions based on what knowledge we have and our financial condition. If we think the market is going up, we will all go out and buy a house right now. If we think the market is going down, we will hold off because we don't want to lose. However, if we don't have a job and we lost our house because of the past mistakes of the banking industry which we call the sub-prime mess, we are stuck. So, therefore, demand will be low and prices won't go anywhere for the time being.
Judging from past history of economic cycles, I would say that the unemployment rate is one of the major predictors as to where the economy is going, and hence, the real estate market. When the current unemployment rate, about 10+% starts going down, it should follow that people will again be able to afford to purchase a house, and this demand will cause prices to rise again.
By Maury Jazzetti

Maury Jazzetti has been in the real estate business for over twenty years and has bought, sold and managed various real properties. He is is also a licensed real estate broker in the State of New York. He has created a community real estate website which includes For Sale By Owner and For Sale By Broker sections. Homeowners may post their property for sale for free. There are no posting, photo, or any other fees to advertise properties. Visit http://betterlifestyles.com

5 Basics For Commercial Real Estate Success

It's amazing how quickly we forget the basics in favor of the "flavor of the month". The following are the 5 basics (not in any particular order) for commercial real estate success:
1. Show Up
How many of you show up everyday at the same time ready to work? This one is so simple. Show up dressed professionally, with your business hat on, ready to work. That's it. Of course you will have to dive in and actually take action steps in order to accomplish something. So many of my ultra successful clients tell me this is the number one secret to their success; and, it's so easy!
2. Return ALL Calls
It is amazing to me how many people in our business don't return all of their calls. Some pick and choose the ones they deem important, some ignore all calls figuring if it's important the caller will try again, some return calls only when time permits.
But really, how rude! How can one possibly know which calls could have the potential to lead to business? And not only should every call be returned but they should be returned with grace and a smile. I remember when I was in college taking a business class and we learned about the habits and characteristics of the typical CEO. When you're way up top apparently you got there because among other things you make sure every call gets returned; either personally by the CEO or his/her assistant.
Let's take a page from the CEO's book - just return all of your calls - please!
3. Take Massive Action
Tell the truth, do you just sit at your desk and wait for the phone to ring? What would happen to your business if you actually took action? How about massive action? Wouldn't you make much better use of your time if you spent 60 minutes taking massive action versus using that same 60 minutes checking your email all day long? The following tip will be worth ten times the price of this newsletter. Each morning write a list of action steps you need to complete before days end. Then, dive in and start checking them off one-by-one. This will only work if you allow yourself a good chunk of uninterrupted time.
4. Implementation Supercedes Perfection
As we get more experienced we seem to get stopped in our tracks more often. The longer we are in the business - the more perfect we feel we should be. What happens then is we almost get afraid to take action steps if they are even one-fraction away form perfection. When we are a beginner, we don't know what perfect is yet so it's easier to just jump in and do it.
Get back into the habit of "just doing it". This doesn't mean things shouldn't be well thought out and professional. It just means good enough often times is good enough. Just look at my newsletters - they are far from perfect. But it's more important for me to get the darn thing out the door in a timely fashion then it is for me to make it absolutely perfect. Plus, you'd be amazed how much business this newsletter brings me!
Bottom line: IMPLEMENT above all else.
5. Continue Sharpening Your Skills
Some of us get so darn complacent; we actually begin to believe we know it all. What a mistake. Being a life-long learner has actually been proven to extend you life. Have a list of every skill you'd like to learn or improve, read everything you can get your hands on that will teach you something, be open-minded and aware of the fact that you don't know what you don't know. You may find some new ways of doing things or strategies for accomplishing more in less time. How about finding out what the guys at the top know and do.
Adopt (or continue) a path of self-development. You will have a few surprises in store as a result!
These 5 basics, if regularly practiced will greatly increase your bottom line. You will put more money in the bank and fewer hours in your work-week - I PROMISE!

Cindy Saxman Spivack, CEO and President of Cindy Spivack International, Inc., teaches Commercial Real Estate Professionals 7 Key Strategies for building an enormously successful commercial real estate business in 12 months or less. For free how-to-articles and powerful lead generation and time management tips go to Cindy's websites at http://www.cindyspivack.com
and http://www.commercialREsuccess.com or email her at cindy@cindyspivack.com.

The Real Estate Challenge

Have you ever wondered why people would have an interest in government foreclosures, tax deed properties, or real estate in general? When we were younger our parents always told us if we worked hard and did things right we would be able to buy a piece of property. By having a home we would then be allowed to have and raise a family, own and eat a piece of the "American Pie". By doing this at the end of thirty years our reward would be or should be a clear title with a home that is mortgage free.

How does that fit into the picture of the times of today? Well, people still look for the piece of the "American Pie", but, not so much in the way our parents did in the past. For one thing, we take more risks; we do try and put a square peg in a round hole because we can think out of the box. Real estate does not always mean build brand new or have a home on it to purchase it. Government foreclosures were not so readily available in the past, as they are now. Financing was limited and options were not so openly discussed.

In this market, we are willing to buy and sell property and own more than one piece of property. Especially government foreclosures since we know we can turn them around after some improvement s and resell them normally for a profit. The fact that some of the properties we had looked at on American Land Grab had tax deeds helped because then you knew they had clear titles. People today are also willing to look outside their own neighborhood and even their own state for real estate.

Everyone wants a vacation home and some people have earned it by being a property investor and buying and selling until they made enough to go after the piece they really wanted in the location they considered desirable for retirement for their living style. We are all different and certainly do things differently than our parents did thirty years ago. The only difference of today is we have technology on our side and they did not so our parents worked it differently that is all.

Retired and Want to Move Home But Thought You Couldn't Afford it? Think Again!

You may well have been dreaming of moving home lately, perhaps to be closer to your family so that you can see your grandchildren more often or take care of them whilst your children are working, or because you quite simply want to move to a different area or a bigger house. But are your dreams being held back because you think you cannot afford to move?
The cost of moving is indeed high and a 2008 survey by Propertyfinder.com reported that the average cost of moving home in the UK has more than tripled since 1998 to almost £9,500.
Legal, estate agents' and surveyors' fees; Stamp Duty; searches; removal and storage costs; mail re-direction and any repairs needed to the house you are buying or selling all add up to a considerable amount.
And what if the property you want to move to is of higher value than the one you live in now? Finding the cash to bridge the gap between your current property value and the higher value of the new one is also going to be an issue.
However, there is a solution. Providing you are over 55, you could raise cash to cover your moving expenses and any deficit between current and new properties by releasing equity from your home. By taking out an equity release plan you can use the value that you've built up in your home over the years to obtain a tax-free cash sum which will allow you to make the home move that you've been dreaming of. Whether you are releasing cash to cover moving expenses or to allow you to upsize, in both cases you may opt for interest only or even no monthly repayments and the cash release is not relative to income or credit status.
It is worth pointing out that releasing cash from your home is safe, providing you take independent advice from a specialist equity release adviser who is regulated by the Financial Services Authority (FSA) and who only recommends products endorsed by Safe Home Income Plans (SHIP), the equity release consumer protection body. Why SHIP? Because their plans guarantee staying in your home for life; never owing more than the value of your home and leaving no debt to your family.
If you have been dreaming of moving home, for whatever reason, and thought you couldn't afford it, it's time to think again. Equity Release could well be the solution that gets you that new dream home nearer to your family, the seaside, the countryside or wherever you want to be!

Geoff Charles is the Managing Director of Bower Retirement Services, an Essex-based FSA regulated independent financial advice company that offers specialist advice on equity release throughout the south of England and free on-going, lifelong customer support. For more information visit http://www.brsequity.co.uk, telephone 01277 262724 or e-mail info@brsequity.co.uk.

Current Latest Real Estate Trend in Gurgaon

The current/latest real estate trend in Gurgaon Property is very much in favour of buyers and sellers alike. This is because the market is again vibrant with talks and deals after a short slump pursuant to the general recession across the world. The property market is back in the saddle and the real estate scenario is agog with activities pertaining to transactions. In the renewed verve and vitality of the market, new institutional players have entered the market and they along with the existing players have opened up a virtual floodgate of marketing blitzkrieg to grab a better share of the pie. New projects of several infrastructure development and housing companies are coming up at multiple locations for each of them. The main players in the field are: Ansal, Central Park, DLF, Emmar MGF, Essel, Jaipuria, Luxury, Orchid, Parsvnath, Raheja, Sahara, Sun City, Unitech, JMD, Valka and Vipul. Reliable industry sources concur that these construction majors are in the process of building approximately 500 billion square feet of accommodation for both commercial and residential purposes.
The current real estate trend in Gurgaon shows that there will be a minimum 10% to 15% of appreciation in property value in the current fiscal. It should naturally evoke excitement among all concerned, in the wake of a crunching slump that left the industry in a jittery. The market witnesses a renewed interest in the multifarious property profiles such as residential properties, commercial properties, industrial properties, shop spaces, office spaces, corporate offices, villas, house plots, farm lands, condominiums, hotels, builder floors, rented properties, resorts, apartments, luxury flats, economy flats and the like.
As part of the current/latest trends of real estate property in Gurgaon, Major corporate houses have occupied many of the custom-built and finely constructed malls and condominiums of DLF, Unitech, Vipul, Eros, JMD, Raheja, etc. Major corporate houses such as Samsung, IBM, Nestle, American Express, Citi Bank, American Bank, LG, GE, Perfetti, Pepsi, Coke, Flexotronics, Honda, Maruti, Xerox, etc. have found spaces in edifices. Prime properties and spaces are available on lease at major locations of the city. Structures with world-class amenities like ample car-parking, broadband internet, 24x7 power backup, water supply and security services are available at various locations. Of late, there has been an increase in rental rates for commercial, properties and luxury apartments. This is due to the newly acquired vibrancy in the corporate and commercial sectors in the region. On the construction front, it is estimated that around 12000 luxury residential units will be ready for occupancy in Gurgaon in the next couple of years. This is due to the umpteen mega projects launched by many corporate moguls in the region.

Joseph Smith have 3+ years of experience in content writing of Gurgaon property rates, Gurgaon Properties.

The Unknown Facts About Real Estate in India

There are many unknown facts about India Properties.In a country where there is traditionally the predominance of the agricultural sector, that sector continues to be greatest source of employment generation. It may be an unknown fact that the Indian real estate sector is the second greatest employment provider in the country. This sector significantly contributes to the national income and Gross Domestic Product and it is expected there will be an average 10% increase annually in these aspects. The recent slump in the property market in India consequent upon the global economic downturn is reported to be evening out and the industry is projected to register considerable growth in the coming years. The observation of the international property consultants Jones Lang LaSalle is significant in this context: "economic recovery during CY 2010-11 is likely to reinvigorate the interest of foreign investors in India's real estate market. We expect enhanced capital inflow in the real estate sector in the medium-to-long-term". Again, Jones Lang LaSalle says, the faster economic growth of the nations like India, China, Brazil and Russia will pay the way for faster recovery of the real estate sector in those countries when compared with countries like the US and the UK.
Yet another unknown fact about Indian real estate is underlying in Jones Lang LaSalle's report which says India property market will be in an upswing from the last quarter of 2009 and over the next 5 years and the industry will attract up to US $ 12.11 billion investment. Again, an estimably 150 square feet of office space will be acquired by the IT and ITES sector alone by then year 2010. Another great procurer of office spaces will be the organized retail marketing sector. It is estimated that this sector will be in need of an additional 220 million square feet space by 2010. This growth momentum will sweep across all tier-1 and tier-2 cities. Further, a joint study conducted by Jones Lang LaSalle Meghraj and Cushman & Wakefield India in association with Shopping Centres Association of India, christened Mall Realities India 2010, says that during 2009 and 2010, a projected 100 malls of over 30 million square feet will be opened in India.
It would be an unknown fact about in real estate India, that in the construction industry Indian companies are making double the profitability for their projects when compared with their US counterparts. Indian construction firms are making on an average 18 percent profit while the US companies are making only half of that. Another unknown fact is that foreign institutional investors (FIIs) are very much confident in investing in Indian real estate and the there has been a whopping 400 percent increase in the past six months.

Joseph Smith have 3+ years of experience in content writing of real estate property india, Property India, Real Estate India.

New Government Initiatives to Boost Real Estate Sector in India

At the Government level many new policy initiatives have been taken recently to boost the real estate sector in India. These policy decisions will lend a stimulus and impetus to the industry. It is beyond doubt that the new initiatives will unlock the potential of the sector. Also, along with the stimulus package announced by the Government, the Reserve Bank of India (RBI) has taken a definitive step whereby banks are allowed to devise new schemes beneficial to the property sector.
As part of the Government initiatives to boost real estate boom sector India, RBI has declared concessional schemes for the real estate sector. Such initiatives include:
• Urban Land (Ceiling and Regulation) Act, 1976 (ULCRA) repealed by increasingly larger number of states.
• In case of integrated townships, the minimum area to be developed has been brought down to 25 acres from 100 acres.
• 51 per cent FDI allowed in single-brand retail outlets and 100 per cent in cash-and-carry through the automatic route.
• Full repatriation of original investment after three years.
• Minimum capital investment for wholly-owned subsidiaries and joint ventures stands at US$ 10 million and US$ 5 million, respectively.
• 100 per cent FDI allowed in realty projects through the automatic route.
Further, in its endeavour to initiate new policies to boost the real estate sector in India, the Ministry of Commerce and Industry, Government of India, has taken steps to reduce the time taken to develop special economic zones (SEZs) by simplifying the procedures to get the tax-tree industrial enclaves notified. Now developers can easily get their land classified as an SEZ at the outset itself by producing title deeds to prove their ownership. Again, the Government has announced several concessions in the Budget 2008-2009.
New Government initiatives to boost sector of Real Estate India include granting a tax holiday on profits from initiates in the financial year 2007-2008. In order to enjoy this benefit, the housing projects should be of the affordable housing unit type of 1000 to 1500 square feet. Another condition is that such projects should be completed by March 1, 2012. Further, the Finance Ministry has allocated US$ 207 million to grant 1% interest subsidy on home loans up to US$ 20, 691. In order to avail this benefit, the cost of the home should not be above US$41, 382. It is believed that these initiatives will be add further impetus to the real estate sector in the country.

Joseph Smith have 3+ years of experience in content writing of Property in India, India properties.

Closing Gifts Leave a Lasting Impression!

Nowadays, how can you capture the attention of your buyers or sellers? By building a relationship with your clients, and teaching them to remember you. It's about communicating with them after the sale.
People buy a home based on emotions. They will also refer you to others based on their emotions and memories created as a result of their home purchase. You closed the deal, and you did a good job, maybe even a great job. So what? Your clients expect that and they should expect that, and it's just not going to "wow" them. What will be remembered most is what you did above and beyond what they expected.
One great way to go above and beyond is with a closing gift. To take it a step further, think about delivering your gift personally, one to two weeks after the closing. This approach allows you to check on your clients "to be sure everything is going okay"; and it ensures that they feel you "went the extra mile" for them! In most cases it will be a short, happy visit and a great way to reconnect with them.
Your current clients will be much more likely to give you those valuable referrals if you take a little extra time, after their closing, to show them how much they are appreciated! And when the time comes for them to buy or sale again; they are more likely to remember you! For most clients, it doesn't seem to matter how much money is spent, only whether the closing gift is useful, practical, and fits their lifestyle.

Mikel is the owner of http://www.UltimateHomeJournal.com - a company committed to providing the national real estate community better access to quality consumer marketing materials. To receive your free sample of the Ultimate Home Journal, go to http://www.wgya.com/UHJ/UHJ_ConstantContact.html.

No Commission Real Estate

Home sellers and home buyers knowledgeable enough about real estate to handle certain aspects of the transactions themselves prefer to use no commission real estate services. There's no reason to pay a broker to do something you can do yourself. And, with no commission, a seller or buyer in effect earns a pay back for their contribution to the successful conclusion of their transaction.
Today, most people are computer literate and able to search online real estate listings for their next home. Why pay a broker to do the same thing. Likewise with home sellers. Some people are perfectly comfortable staging and showing their homes themselves and do not contact a broker until presented with a purchase offer. When you select no commission, you contact a broker only when you really need one.
No commission is billed on a time accountable basis rather than as a percentage based commission paid in a lump sum at transaction's end. From the start, client and broker decide on the anticipated scope of work for a particular transaction and memorialize it in writing with a scope of work agreement. No additional work can be performed without prior approval.
No commission representation takes a team approach to your transaction. Your team is headed up by a licensed professional and staffed by experts in management and administration, inspection and other pertinent practice areas as appropriate. Each expertise level bills at its own hourly rate and for time actually spent. If you think about it, this approach is actually more efficient and cost effective for both client and broker. Clients like paying for specific services actually performed on their behalf, and brokers like the no risk aspect of no real estate. Under the commission based model, brokers always run the risk of losing if a transaction falls through at the last minute. Brokers are paid under no commission real estate regardless of the outcome of the transaction. No longer any money lost when a deal collapses!
Certain circumstances, such as cross country moves, may warrant full service. A local broker can prove invaluable in selecting the right neighborhood and the right home within that neighborhood and is certainly well versed in local real estate customs. However, in local moves, home buyers will know just as well as any broker which neighborhood is right for their needs and don't need anyone else to make the selection for them.

Arslan writes about no commission real estate. For more information on no commission real estate see http://www.smithadams.com.

Real Estate Will Come Back

Do not believe in the real estate crisis. You are able to create your own reality; and if you believe, you can make some business -- you will.
You have heard the news, do not keep all your eggs in one basket, have an alternate source of income. This is for all the licensed people looking for a way to capitalize on their real estate license: you can be a referral agent, working with a broker, all you need is to find leads. You can use real estate as a second income, while keeping your career.
Don't wait until you start seeing the success stories of Realtors that did not believe in the crisis and kept working without looking back, the time to act is now. For the non realtors reading this article I explain in more detail in my website why is important to use a Realtor in your real estate transaction, my suggestion is that if you are looking to buy, the timing is great, make sure to use the knowledge and skills of a Realtor to make sure your real estate transaction will close as fast as possible and that all your rights are protected.
Education will always be the way. It is so easy to get information at our age. Using a Realtor will help find the right home. He or she will also assist you in the negotiation part, which is my favorite part of the purchase. You will be free to continue doing what you like to do, living a normal and stress free life, while the Realtor is doing the leg work for you.
And if you are looking for a luxury condo in the most charming areas of the city, using the services of a Realtor will make a huge difference in the process. It is very easy to pay more in a luxury condo, but a Realtor will be able to provide you the most recent closings in the area, and will help you to use that information as support to your purchase offer.
Buying a home is a very important decision, and a very important step in your life, let a Realtor help you all on this journey.

Why use a Realtor?
http://www.miamirealestate4you.com

How to Invest in Real Estate

Do you have any plans to start investing in real estate in Canada? Well, good for you then. According to a report from Canadian Real Estate Association, rate of sale of homes in Canada has risen by 73% this November, compared to last year's statistics. Real estate is the hottest option for investment right now in Canada, and the chance of incurring a heavy loss (unless there is some sort of natural disaster) is almost negligible. Just make sure you are investing through a well reputed brokerage firm. That way, you should not have any problems later on. They will take care of all necessary formalities, allowing you to invest in a hassle free manner.
Before you even start working on investing, here are some points that you have to consider:
* Invest a safe amount: Real estate investment can seem to be a very exciting option, especially if you are a newcomer in the field. You may be ready to invest as much money in this as you have at hand. However, remember that property investment carries its own share of risks, just like any other business. Make sure you invest an amount that will not affect your financial condition, even if you lose it all.
* Do some research beforehand: Always do some research beforehand about the properties that you are planning to invest in. However, if you are investing through a reputed brokerage firm, then they will take care of this for you.
* Weigh your options: Once you have narrowed down your choice of investing in a particular property, talk to your broker. Different types of landed properties have different types of fees or taxes attached with those, so make it a point to learn about those. Also, consider alternate real estate investment options. Why invest in homes all the time? If you have plenty of cash at hand, consider investing in equestrian real estate. Horse ranches will offer you much higher return on investment (ROI) in the long run than any home you invest in.
* Take it easy: You may wish to make your first investment just in time for a Christmas celebration, but don't rush it. Proceeding without carefully considering the pros and cons of the investment will only land you into trouble later on. Take your time to talk with your broker, do some research, or visit the location yourself.
Finally, always ask your broker whatever question pops in your mind. Remember, there is no such thing as a silly question. The broker may be taking care of all the details regarding your investment, but after all, it's your money. Also, conduct deals through well reputed and experienced brokers like Homevestors in Canada, because these people are most suited to provide up to date information about the properties you seek to invest in.

Learn and discover the breakthrough and a proven strategy for investing in Canadian real estate.

Negotiable Items After Home Inspection

Real estate is a complicated and massive world. There are important procedures that every seller and buyer should deal with. A home inspection is one of the major parts to be prioritized. Before proceeding in your quest for home purchase, this is the main step you have to undertake first.
Homeowners who want their homes to sell fast must get their house inspected before putting them up in the market. There may be some systems and areas that malfunctions and defective. It is necessary to find out what needs repair and fixing up before you put your house in the market for sale. Inspections will give you a chance to enhance the quality and value of your property.
Homebuyers must do a home inspection to be able to have a fair and sound investment. A buyer should know the exact condition of a house before finalizing the selling transaction. This will save a lot of money, worries and time considering that you already know of any applicable defects. You might wonder what items have to be negotiated after a home inspection is done. Discussed below are several negotiable concerns:
1. After an inspection, the property price is the main concern when negotiating with the seller. As a buyer, you could ask for a modification of the selling price in accordance to the inspection report. If the home contains several malfunction and defects, you can negotiate with the seller a price that you deem fit and worth. Homebuyers should assess the property value thoroughly and compare with other homes in nearby locations.
2. As a buyer, you generally have the right to demand a solution to the following items: safety issues like nonworking circuit breakers, violation of local building codes, structural problems such as broken floor beams, termite problems and liability issues like underground oil tank or broken pavement.
3. You can also negotiate with possible solutions and remedies that the house needs. Giving sufficient options to the seller will increase the likelihood that your request will be complied.
4. Some things that require negotiation are big-ticket items that are nearing towards the end of their engineered life. An example of this could be a twenty-year-old roof that has to be replaced later on, and a furnace that still functions but is nearing its last breath. These areas are often the most difficult to resolve. Sometimes sellers will stand that it is not broken and needs no immediate action. On the other hand, a buyer does not want to be stuck with huge expenses of maintenance after settling in a new home. It is necessary that both parties should make a compromise. The most reasonable compromise is for a seller to give a credit to partially offset the cost of replacement of major components later on. The amount of credit is negotiable and should be agreed by both parties.
Generally, a buyer should limit repair requests to safety, structural, pets and liability issues. Items beyond these could be negotiated. A home inspection serves to prevent a buyer from purchasing a home that has substantial problems that the seller may not be aware of. It should not be used to renegotiate terms.

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The Perfect Storm - The Rise and Fall of the United States Housing Market

As we approach the end of 2009 and look ahead to the coming year, we continue to keep our eyes fixated on the optimistic horizon of our financial futures hoping to dissipate the recent memories of the turbulent past. These traumatic recollections are primarily associated with the collapse of the U.S. housing market which triggered the current economic recession that our country is still desperately trying to dig itself out of. This hurricane of eroding property values started to come onto U.S. shores in the beginning of 2008 and continues to wreak havoc into this present day. Now as we look back in time today, it is almost impossible to not know someone who has not been adversely affected by the housing market meltdown in the United States.
A financial storm of this magnitude did not form overnight. There were many years of reckless spending, poor financial planning, and irresponsible lending that synergistically blended together to create this potent financial catastrophe. To simplify things however, the crux of the blame can be cast upon three equally contributing parties: greedy lenders and naive buyers. These two factors combined with a lack of financial oversight by the federal government and affiliated regulating agencies formed into what could best be described as the "perfect storm" scenario.
The initial events that set into motion the collapse of the domestic housing market began immediately following the tragic events of September 11, 2001. Just one year prior, the federal funds interest rate which establishes the baseline for lenders borrowing from one another was 6.50%. The terrorist attacks on 9/11 prompted the Federal Reserve to start slashing interest rates in fearful speculation that awful financial repercussions would quickly devastate the economy.
As the federal funds rate continued to be reduced down to 1.0% over the next two years, this provided a catalyst to home builders and developers as they increased land purchases and started massive residential and commercial housing projects. During this same time that interest rates were being reduced to historic lows, members of congress were coercing the executives overseeing the giant lending institutions such as Freddie Mac, Fannie Mae, and many others to extend their lending policies beyond their normal credit worthiness limits so that consumers who would not normally qualify for a mortgage could achieve the American dream of home ownership. To appease these new found congressional pressures, lenders soon devised up new hybrid and exotic mortgage financing schemes. These new financing options featured adjustable rate mortgages with no money down requirements, and loans that financed home loans for up to 125% of their appraised worth with the naive thought process that property values would continue to increase indefinitely into the foreseeable future.
All of these converging forces united together to form the "perfect storm" that struck the U.S. housing industry with full force beginning in 2008. Soon many of those buyers who were enticed by the attractive financing options ended up as disheveled victims similar to those homeless survivors displaced after a tragic hurricane strikes. Those teaser mortgage rates which persuaded millions of home buyers and builders to spend beyond their means would soon skyrocket upwards as the Federal Reserve began to understand what was taking place and would try to counteract the financial chaos with series of organized interest rate increases. By this time however, it was too late to escape the impending doom.
This devastating combination of greedy lenders, naive buyers, and federal regulating agency members asleep at the switch undermined the very foundation of all of the housing growth that had been constructed over the previous years. In the wake of this storm's aftermath were especially hard hit areas such as parts of California, Florida, Nevada, and Arizona where overbuilt communities and speculation reached extreme levels.This grossly unbalanced financial leveraging scenario between the buyer with little to no equity down and the fully financed lender couldn't last forever and it didn't. Buyers soon wanted no part of rapidly depreciating neighborhoods and sellers flooded the market but no one would come to their rescue and many of them were forced to go belly up into foreclosures or short sales if they were so fortunate.
The rest as they say is history. A recent Zillow study of Floridian residents showed homeowners who purchased their home in the last two years ran a 77% chance of their mortgage being upside down. This is only a small fraction of the devastation that has been cast across the country. Let's hope the worst is over.

Christopher Taraska - Risk Operation Manager for a prominent Fortune 500 financial services company

Freehold Verses Leasehold

Understanding the difference between freehold and leasehold: The contract you get about your property purchase may quote that the property is freehold or leasehold. Freehold is much more straight forward than leasehold. If you buy a property on a freehold basis means you own the building and the land and boundaries that the building sits on. So long as you abide by the law you will be able to do pretty much what you like within reason. This goes for most properties within England and Wales.
If you buy a property leasehold then this a completely different kettle of fish. You will find you don't have the same rights as a freeholder and you only buy the right to live in the property for a fixed number of years but the land belongs to some one else. The lease normally has a length of time. Many have lengths of 99 years to about 999 years. Once the lease has run out the property reverts back to the landlord.
Most mortgage companies will not give a mortgage if the lease is too short as they then have no protection. You will find that because the landlord retains the ownership of the land and the building, an annual service charge will be imposed for the upkeep of the building as well as ground rent.
When it comes to conveyancing, the freehold property is much more straightforward to do. However the leasehold can be a bit more problematic,and remember that most flats and apartments in the UK are actually leasehold. If the lease is at least 40 years or more, most mortgage companies are happy to lend on the property but will rarely lend on shorter leases. Things to look for in the conveyancing are hidden clauses and charges that could effect the value of your investment as you want to make sure that you can live peacefully throughout the term. Make sure your solicitor is good and specialized in this field.

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Advantages of Instant Home Appraisal

Before selling a house or buying a house one should know the approximate value of the house. To understand the value of the house one can look in the instant home appraisal websites which can save one a lot of money and energy.
The two best option one can choose when estimating the value of the house is to either go to an experienced realtor who does know about the area and property one lives or go to the free websites where one has to provide the basic answers to the questions asked like the street address, area, bathrooms and bedrooms. After the information provided an estimate value of the property will be calculated.
Buying and selling of the house
When selling a house the listing price should be lower than the appraisal price as this will attract lots of buyers and there will be multiple offers if the house is in a good condition and this might drive up the actual price estimated.
But when buying a house one should not base the price of the property on the listing price but should be based on the value of the property on the other hand if the listing price is lower than the value of the home then it is a good deal to have.
Methods of estimated house appraisal
To buy or sell the existing house one should always get information on the estimate value of the property and then decision made as this will get one a good deal of the property. There are different methods of home appraisal estimate which is useful when making a good deal of the house. We can also get free estimate of the house online without any hassle.
If one is planning to buy a home then one will have to get a professional appraisal in order to get a loan for the house. A professional house appraisal will come to the house to conduct a survey of the house where he will be taking a few hours in taking measurements and pictures of the house to compare it with the sales of the home in the area. The service provided can cost a person to about two hundred to four hundred dollars.
Another method to get an estimate of the house for free is to go to an experienced agent who knows about the area and is able to give an accurate detail of the estimate. One should take advice from at least three agents to get a fair picture of the estimate.
Another method is going online and providing basic information and the estimate is for free and accurate based on the public sales records.

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The Home Stimulus Package - Why is it So Attractive!

Due to the manner in which our present economy is shrinking, President Obama is actively offering a helping hand, hoping to turn the tides around. In fact, he has inaugurated a number of fresh policies planned to fuel different aspects of the present economy and to get things geared up once again. The home stimulus package that can be availed by first-time home buyers is the ideal solution for financial difficulties faced by many buyers today. This is simply the great news for a common man.
The first time home buyer stimulus package is targeted at revitalizing the sloping housing market as it helps the first time house buyers; this is also applicable to buyers who have not purchased a home in the past three years.
The primary reason why the home stimulus package is so attention-grabbing is that it unswervingly deals with the crucial concerns which majority of the home buyers undergo while purchasing a new house. For instance, the very first concern of many buyers is how they will manage the down payment. It is essential that you have substantial sum of money banked so as to pay 10% down payment. Thanks to Obama's stimulus package where the federal government will assist the first time home buyers by providing a percentage of the down payment. In simple words, buyers need not worry as they do not have to manage the entire amount of down payment by themselves. Secondly, the federal government has also cut down the interest rates which are associated with monthly mortgage repayments. Apart from these, if you are qualified as first time home buyer then you can submit an application for refundable tax credit of 10% of the house price (this can go up to 8,000 USD dollars).
All in all, with an abundance of advantages associated with the home stimulus package, many individuals are getting excited to have this package as their affordable home plan.

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6 Common Problems People Face When Buying Or Selling Property

For most people buying or selling their home can be one of the most stressful times of their life. Usually, conveyancing involves a chain of transactions which extends beyond your immediate control. Timing and the ability to negotiate all play a vital part in achieving a successful outcome for you. To improve your chances of getting a stress free house move, make sure that you don't make the following mistakes:
1. Not instructing a solicitor early enough
When selling a property, most people often only decide to instruct conveyancing solicitors once they have found a buyer and agreed a price. Hiring a solicitor right at the start, even before you have agreed a price, means that they are fully informed on the transaction. This will ensure that all the contract papers are ready to be forwarded to the buyer's solicitors as soon as a buyer is found. This will help to avoid any delays.
2. Not taking time to choose the right solicitor
Make sure that you pick a specialist residential conveyancing solicitor. A sensible way of choosing a solicitor is by personal recommendation. For example a friend, family member or work colleague may be able to recommend a particular firm they have recently used. The internet is another great source of information - good firms will generally have up-to-date websites and plenty of practical information. The majority of efficient conveyancing solicitors use up-to-date software packages to speed up the conveyancing process. If the solicitor you are thinking of appointing does not have an up-to-date website, you might wonder how committed they are to using more than technology, let alone e-mail or text in communicating with clients. In addition most people prefer to appoint a local solicitor. Whilst it is possible to appoint a solicitor in any part of the country, the local solicitor will have valuable local knowledge and will be readily accessible for face to face meetings.
3. Not checking the chain of transactions at the outset
It is important that you check that the chain of transactions is complete below and above you and that everyone is in a position to proceed. Usually these details will be confirmed by your estate agent.
4. Not making sure that you comprehend the legalities.
Make sure that you understand the meaning of Legal expressions like 'exchange' and 'completion'. Exchange and completion are the key dates in any transaction. Exchange is the date when contracts for either the sale or purchase are exchanged between the respective parties. At this point a contract exists that neither side can break without facing penalties. Upon exchange, a completion date will be agreed upon by both parties - this is usually 2 weeks following the exchange. This is the day that you will move home.
5. Not knowing when and if you can withdraw
Always remember that you can withdraw from a transaction at any time before contracts are exchanged and that there is normally NO obligation to pay any fees to the other side whatsoever.
6. Not checking the likely timescale of the transaction at the outset
It is important that you check with your solicitor the likely timescale of the transaction. On average it can take a minimum of 6 weeks from instructing a solicitor to moving in. Depending on the chain and any legal difficulties faced, this time can be shortened or increased. It is important that you keep in contact with your solicitor to obtain updates. Furthermore, you should not organise a removal van until you have been advised of a definite date for completion by your solicitor.

Appointing experienced residential conveyancing solicitors is essential if you want your sale or purchase to go through smoothly. A good solicitor will also understand the importance of communicating promptly with everyone involved in the process, the importance of acting quickly so that there are no delays and, most importantly, in providing a value for money service.

Tim Bishop is Senior Partner at Bonallack & Bishop, a firm of Salisbury, Andover and Warminster Solicitors with a vast amount of experience in residential conveyancing transactions. He is responsible for all major strategic decisions, and has grown the firm by 1000% in 12 years.