Designing your Dream House

The first step we typically do when designing a new house is listing all the features and amenities we wanted to have. How many bedrooms? How large the dining area? How many windows at the living room? How many comfort room? Etc. Most people, however, quickly realize that their budget doesn’t match the seemingly endless extras they’d like to have in their dream house. Thus, it important that you determine how much amount of money you can manage to spend.

It is very advisable to seek for home builder’s assistance so you can have idea of what particular home features you can afford, most especially if money matters to you and you are in the budget. Home builder can help you know what you can get out of your money.

Some of these extra features that you may want to consider in designing your home may include extra bathrooms, balcony of the master bedroom, al fresco dining area, home theater system, vaulted ceilings, custom cabinetry, multi-vehicle garage, home office and even some beautiful green garden.

Real Estate Value and the Profit Margin



Making money in real estate is a dream that millions of people have. Few will actually see that dream become a reality. Why is that? Well the fact is that it takes a person with a strong will and a stiff upper lip to make it in this cutthroat business. You cannot be the kind of person that is given to allowing others to take what you have or want. To make the money that you need you have to be willing to stand up and make it happen.

The profitability of investing in real estate depends on the market as much as it does the person doing the investing. The general rule is that you have to be smart and lucky at the same time. Knowing what to buy, when to buy it and how much to pay for it all have to ring in your ears at every potential investment. Lacking even one of these components can put you at risk for serious losses in the financial department.

This is key when you are looking to get a better grasp on real estate value and what affect it can have on your profit margin. Basically you are having to do a risk assessment before you make every deal. This can be time consuming if you are not knowledgeable in this area. However, with a few key tips and a bit of advice you can make the right choice. So below we have provided a few of these tips.

The Value and Price Gap

Learning to bridge the gap between value and price is vital to your success. You can sit there all day long and read appraisals and still not come away with any better idea as to how much you should pay for a property. This is due to the fact that appraisals are based on more factors then you need. They are giving a value that is used by the mortgage companies to determine how much can be loaned. The price is actually what a person or company would pay. Knowing how to fall in between those when buying is how you make a profit.

Risk

There is also the idea of risk that has to be considered. Any real estate deal is going to be risky but some more than others. You have to learn how to properly assess the risk and determine whether it is too high for you to make the investment. While high risk ventures do tend to be more valuable in the long run, there is the chance that you could fail. As such you have to be sure that you are prepared when establishing real estate value and the risk involved.

Long Term

As a person that is looking to make an investment in your future you have to see that true real estate value is based on the long term. Short term factors do exist but in most cases you have to assess the value on a term that is far longer. The more that you have to sit on the property the more the value could change, either for the better or for the worse.

Donald Trump

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Donald John Trump was born June 14, 1946, in New York, NY. The third generation in a family of businessmen, Donald has his father, Fred Trump, to thank for his deal-making and Entrepreneurial skills.His famous slogan, You’re Out in the Apprentice show has given him more publicity. Donald Trump is an American business executive, entrepreneur, television and radio personality and author. He is a billionaire real estate developer, the CEO of Trump Organization, that has amassed a fortune through owning key New York properties (i.e. Trump Towers), and Atlantic City casinos (i.e. Taj Mahal). He has gained fame for his flamboyant deals, his run for President and his supermodel love interests. 

Consider the Size of your Property

Potential property buying includes a lot of considerations. And I think foremost of these is size. Size is one of those things that are essential in defining your space. Depending on whether you plan to live as a bachelor or with your family, size allocation will matter.

No person wants to live in a sardine-like setting (you know, when you’re all stuffed into one single small space). As much as possible, you will want a whole wide space to move in. Cramped living is simply a big mistake these days and if you are not careful, you may regret buying the said property.

Most people have varying demands when it comes to property investments. You just have do put them into perspective before consummating a deal.

How to Negotiate Real Estate Commissions When Selling a House As Is



A real estate commission is a specified charge, which is paid to the agent or the broker hired for the purpose of selling a house. To avoid being duped by paying unreasonable amounts of money as commission, it is advisable for sellers to study the market themselves and get to know the general range of commission rates first. In reality, the commission rates are never fixed and most of the states forbid the Real Estate Commissions from doing so. This means that the agents can quote any price they like as long as the customers are willing to comply with the demands. However, this does not imply that the customers are compelled to pay the stated rates; they have the option of negotiating as much as their negotiation skills allow them to. The competition factor between agents also helps keep the commission rates from soaring too high.

The rules of estate commissions

Usually the Realty companies set the minimum and maximum rates of commission and leave the finalization of the rate to the brokers. The agents however, are not allowed to discuss their company commission rates with agents of different realty companies. No realty company is allowed to advertise its rates to attract customers. The commission to be paid to the seller’s agent is decided when the listing contract is being drawn and the commission payable to the buyer’s agent is determined when the contract for the sale of the estate is being written. Usually, the total commission is divided equally between both the agents.

Tips to negotiate

Here are certain pointers for you to keep in mind when you try and negotiate the commission payable to you real estate agent:

Study and calculate the value of your home and draw an estimate of how much would be the ideal commission charge for that value.

Enquire about other homes in your area that have been put up on sale and find out how much those owners are paying their agents.

Keep a track on the market trends, whether it is favoring the sellers or the buyers. In case it is supporting the sellers, then the negotiation power lies more with the sellers.

Make a precise budget before negotiating the commission rate.

Before hiring an agent, make a background check to see if he is adequately qualified to carry out the job. Carefully observing the agents’ weaknesses and use them to your benefit.

Discuss payment options other than straight commissions such as a flat fee or a dual fee. The dual fee states that a certain percentage will be paid if the house is sold for more than a specified rate.

Alternatives

In the situation where you do not manage to find an appropriate agent or broker, you can always sign yourself with a real estate firm that charges a flat rate instead of any percentage. Moreover, if your house is in a good condition and well maintained, you will not only pay a nominal fee for the sale procedure but also get a good value for your house.

Caution

It is advisable that individuals wanting to sell their house do not fall for tempting offers made by certain agents who promise to sell the house at a higher price, and in turn, charge a higher commission. The customers should also be wary of the agent who says that the value of the house is very low and would require a lot of effort and time to sell. These are just tactics to extract as much money as possible from the client.

Real estate investment – do’s and don’ts



Real estate investment does not exactly happen when you are desperately in need of a home. Many people who buy homes do it because they expect their investment to grow in the years to come. As you can see, there’s a clear investment angle to the whole thing. So, if your interest in real estate investment is profits and returns rather than a place to stay, you need to be clear in your mind of certain things.

First, be perfectly clear about your reason for investment. Are you investing in a home because you have no other place to stay or are you looking for a way to diversify your investment portfolio? If you are a home buyer who desperately needs a place of your own, then, your focus has to be on getting a house that is livable and suitable for YOUR particular needs. On the other hand, if you want to make profits from your investment in real estate, you must take particular care in selecting prime property. Premium location, high quality construction, good neighbors and useful facilities drive up the price value of your real estate investment.

Every investor wants to buy low and sell high. However, this dream seldom translates into reality. In a good majority of cases, people often miscalculate the timing when they buy or sell. But, if you are a buyer in this market, you have a lot going for you because rates have bottomed out in most places. So, you ARE realizing one end of the transaction. To make your real estate investment even more price effective, choose a structure that needs minimal repair and maintenance. Any expense on the house adds to your cost. If you keep your investment low and are successful in selling high, you can make a good profit.

Since the housing market went up like a pot of firecrackers, investors have been somewhat wary of real estate investment. This is only natural. Many fingers have been badly burnt. To keep yourself from making this mistake, make inquiries into the state of the housing market in your area. If the sale value has been beaten to a pulp by the economy, it makes sense to buy as soon as you can. But, if you buy in an area with a poor sale value (due to reasons like crime, poor sanitation, slums etc), then you cannot expect high returns.

Real estate is a huge investment and the volume of money going out is substantial. Buying a home and paying a high monthly mortgage does not make financial sense because you end up paying much more than the market value of the house. Make your investment only when you have the finance to back you up. Remember that you may have to hang on to your investment until the market bounces back. And no one can say when that will happen.

From the outside, real estate investment may seem to be the easiest way of making money. You buy a rundown house, renovate it and sell it at a profit of 20-25%. What could be easier? Real estate investment can give you huge returns provided you play the game with a complete awareness of the risks involved and make informed decisions regarding your purchase.

Choosing a Real Estate Agent: Five Things to Remember



Choosing a real estate agent is like choosing a spouse. Make the right choice, and you’ll end up a very happy person when you buy or sell a home. Make the wrong choice, and you’ll end up with a lifelong commitment of financial difficulties, among other things. If you are one of the people who have experienced troubles with agents in the past, or are simply new at the business of finding and hiring one, then here are five things to remember when selecting such an agent:

Remember to ask people you know

Experience is the best teacher, and choosing a real estate agent is no exception. You can ask friends and family about their experiences in buying or selling a house, and you can get firsthand feedback about how their agent performed in this time. This information is a lot more reliable than depending on advertisements, especially since that person will have an unbiased opinion about the performance of the agent.

Remember to keep your cool

When you do meet face-to-face with a prospective agent, remember to play it cool. Don’t look desperate or ignorant, otherwise the agent will take full advantage of your situation to manipulate things to go his or her way. Study up, set your price limits and maintain a poker mentality during interviews. Smile a little, be friendly, but remember to keep your goals in mind at all times.

Remember to counter-interview the agent

When choosing a real estate agent, it is important to have a voice in the discussion. Agents are akin to salespersons, who will attempt to maneuver you into a position where the only answer you can reply is a ‘yes.’ In order to prevent this from happening, you have to ‘intimidate’ the agent by asking for his or her credentials, past clients, successful sales or buys and other information. This will force the agent to think twice about tricking you, since you are not an easy ‘mark,’ and will give you a level of professional respect.

Remember to find a ‘good’ agent

Choosing a real estate agent that is ‘good’ does not mean evaluating professional competence alone, but adding in your ability to connect with him or her on workable level as well. Squabbles and frequent arguments can turn the professional relationship sour, and you may find yourself with the short end of the stick if and when your agent decides to get some payback with you.

Remember the agent’s motive

Choosing a real estate agent does not mean you are choosing a friend. If there is one last thing that you must remember, it is that a real estate agent’s primary concern is to get a commission. While he or she may claim to work in your best interest, do not place too much trust to the point where you expose yourself to unnecessary financial and personal risk.

And there you have it, five essential things to remember when choosing a real estate agent. Keep them in mind, and you’ll be able to find the right agent without finding yourself getting conned into buying or selling when you don’t want to.

Art Shows – Selling Condo’s

artcondoCondo’s are moving slowly in today’s slowing real estate market and with that comes innovation such as the best selling strategies say like an art show. The condo unit is first designed and laid out as if were an art gallery, loaded with furnishings ans of course, art work. They can be anything from prints of originals or some wisely selected ones that highlights the features of the home. Condo’s are the preferred living space for urban dwellers due to their close proximity to the companies they work for. Read the rest of this entry »

Home Improvement Fraud – Radon Scams

Radon, an invisible radioactive gas that is a product of decaying uranium found in rocks and soil, caused quite a scare in the real estate industry several years past. Some scientists say this gas is linked to lung cancer. It can leak into your home by way of your basement. During that time people claiming that they can remove this gas approach homeowners and offer to take care of the problem in consideration for a large sum of money. The Environmental Protection Agency provides sources where you can get information on safe radon levels, guidance with radon measurement kits, and a list of licensed companies who can help reduce the presence of radon in your home.

Tips on Buying a New Home

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Now that youve decided to invest your savings in buying a new home, here are some tips that would help you thru the entire process:

Define your budget. This will keep you away from frustrations on houses that you cant afford. Save money for taxes and insurance. Consult a mortgage company to give you the rates.
When visiting a house, write down the pros and cons. In this way you can compare the houses that you will visit.
Hunt until you drop. Look as many houses as you can then compare.
One key for negotiation is to inspect the house before buying it. You can negotiate with the price if you know the potential problems of the house.
Schedule for relocation. Make sure you have plenty of time to settle in your new home.

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