Second Houses and Investment Properties

Second homes are a great choice whether you’re looking for a summer retreat or an investment property. There is a laundry list of considerations to think about before making such a huge investment, however. Make sure you’re informed about all your options before you buy.fxykutkl

A Smart Purchase No Matter What You Use It for
There are two reasons most homeowners buy a second home: as a vacation property or investment. Regardless of what you use your new house for, any second home can easily be both of the above. Real estate is one of the safest and most profitable long-term investments a person can make. And if you’re careful about where you purchase your new home, there’s no reason it can’t be a weekend getaway for you and a money making rental property as well!

Rent When You Are Away or Keep It To Yourself
A smart purchase in a desirable area means your new vacation home can double as a place to rent out to others when you’re away. By charging a reasonable rate to pre-screened, short term renters, you can easily make enough to pay

Reasons Your House Isnt Selling

It’s heading towards late summer and your house still has that “For Sale” sign out in the front yard. Remember, it’sfgjghhkm not your house anymore, so you may have rearrange a few things in order to make it seem like somebody else’s dream home. Here are the top five reasons houses don’t sell, and how to go about addressing these particular predicaments.

It’s a Buyer’s Market
All real estate is local. So depending on what part of the country your house is in, it could be that the buyer’s have the leverage in that area or neighborhood. A high price can quickly turn off a buyer and prevent them from entering the door. It’s the hardest thing you’ll have to ever do but don’t be afraid to lower the asking price. You or your realtor will need to check what recent, comparable homes have sold for in the last few months to get an accurate picture of what buyers will pay for your home. In areas where it’s a buyer’s market, you will need to aggressively price your home in order to catch the eye of the limited amount

5 Smart Tips for Home Buyers

1) Get pre-approved for a mortgage before you make an offer. When you are trying to buy a house in a competitive market, your offer to purchase should contain as few conditions as possible. An offer that is conditional on obtaining financing is often a deal killer. The seller may accept a competing offer for less money rather than take the risk that you won’t be able to raise mortgage money. A pre-approval letter from your lender tells the seller you are ready and able to commit.ykuyl

2) Know when to quit. When you act on emotion, rather than reason, you may end up paying too much money. This can happen when you fall in love with a particular house and start fantasizing about how great it will be to live there. Another reason you may be driven to pay too much is that a bidding war triggers your competitive instincts and you must buy the house at all costs which you will regret later.

3) Set enough money aside to cover closing costs without having to forgo eating for a couple

Preparing a House for Sale

Home sale preparation is an integral part of getting the best price for your property. No matter what the market’s like, the right prep work can make your house more appealing to potential buyers and give you an edge over other properties for sale in your neighborhood. As with any project, selling a home is easier if you’ve got a solid plan and a bit of professional help. To make the process as smooth as possible, you’ll want to start by making a list of needed projects and involving a real estate agent.

Home Sale Preparation: Getting Started
Your first step in preparing your home for sale is to create an overall list of things to do. This consumer guide can help, but you would also do well to consult with an experienced real estate agent who regularly handles properties in your neighborhood. If you are still trying to decide which real estate agent to list your home with, creating a things-to-do list is a good get-to-know-you exercise that will tell you a great deal about a real estate agent’s experience and how comfortable you are working with him or her. Preparing a list will also help should you decide

Reasons to Buy a Home

Many people—especially singles and young couples who are just starting their careers–have mixed feelings about purchasing a house. They worry about getting tied down and taking on a lot of debt.

Here are 10 compelling reasons why anybody who can afford it should consider buying a home:

1. House prices tend to rise over time, so a house is one of the best investments you can make. Home prices in the U.S. have risen three percent to six percent a year for the past 20 years. That trend is likely to continue. So if you buy a home now, you’ve put your capital in a safe investment where it is likely to grow.

2. You’ll pay less tax. You can deduct the interest you pay on your mortgage from your taxable income. The value of this tax break depends on factors like your personal tax bracket, the size of your mortgage, the rate of interest you pay on it and how long you’ve held the mortgage. As a rule, the newer the mortgage, the greater the amount of interest you pay each month and the bigger the tax break. Therefore, recent buyers with young mortgages tend to get the greatest benefit.

3. You’ll be

Marketing Your Home for Sale: Find Some Time, Get Some Distance

Many detail-oriented tasks and larger decisions will be made when you’re putting your house on the market for sale. One of the most important things to remember, however, to successfully sell your own home is that there’s a difference between the building as a property and the building as your home. While moving out can be emotional, being able to look at your house objectively is crucial for good house staging. Selling your own home is not likely to be a walk in the park, but many people have done it successfully; here are some tips that can help you attain that ever-beneficial objective eye, and hopefully lead to a good selling price, too.

House Staging Step 1: Thorough Cleaning
One of the most important facets of home staging is cleaning. If you want to sell your own home, the cleaning you do before you start showing your property to prospective buyers is an investment and should be treated as such. Remember, while certain areas might look clean enough to you, a prospective buyer is looking through a whole different set of eyes. Once you consider your property thoroughly cleaned, it is a good idea to have a friend or co-worker

A Beginner’s Guide to Condominiums

The condominium market has been rising steadily. While this trend is not guaranteed to continue, the condo market has regained the momentum and importance it had in the initial condo boom of the 1980s.

Condo buyers fall into three main groups: first-time buyers making the jump from renting; people looking to buy a second home that they will use part-time; and retirees who are trading in high-end homes for the low-maintenance lifestyle a condo provides.

A condominium can be a great purchase under the right set of circumstances, but some people still dismiss them as glorified apartments. If you’re not comfortable living within condo rules and restrictions, and in close proximity to others, then a condo is probably not the place for you. Before you buy a condominium, make sure you understand exactly what is involved in condo living.

What Exactly Is a Condominium?

A condominium development can take the form of apartment-style complexes, townhouses or converted multi-family dwellings. What distinguishes it from other multi-tenant buildings is that the developer has legally declared it a condominium, and individuals can purchase units in the building or complex. In most states, this means that the development falls under specially designated laws and regulations applied to

Real Estate Foreclosure Lists

Real Estate Foreclosure Lists

Q: Why do I have to pay for a list of foreclosure properties? Isn’t this public information?

A: The answer is yes and no. The transfer of real estate property is always recorded in the county courthouse where the property is located. That makes it public information.

A list publisher, or consumer for that matter, must request a list of foreclosed properties from participating lending institutions. Why request? Because there is no law stating that the lender must make this information widely available, just as there is no law requiring you to make public a list of your personal possessions for anyone who may demand it.

You can, if you so choose, visit your county courthouse, go through all the deed and mortgage books and locate one property at a time, those that have been transferred to the lender. This would be an arduous process at best.

Another alternative would be to go to every single auction, in every county you have interest in, and watch which properties go back to the lenders.

So, in buying a list, what you’re mostly paying for is content and convenience. By yourself, it would take hundreds of hours and a lot of money

Before You Go House-Hunting

Before you go house-hunting, use this checklist to make sure you are prepared to make a purchase:

Create a budget.

      You need to know where your money goes, where you can save, and how much you can afford to spend on your mortgage installment each month, not to mention insurance and taxes.

Check your credit rating

      and correct any errors in it. A good rating can help you get a mortgage loan; a spotty one may mean you’ll end up paying a higher interest rate.

Pre-qualify for a mortgage

      to find out how much you can borrow.

 

Make a list of what you need in your new home: number of bedrooms, eat-in kitchen, family room, garage, central heating and/or central air, etc.
Make a list of items that you want but are not essential: a fireplace, built-in cook surface and oven, en suite master bathroom and central vacuum.
Identify a neighborhood or two you’d like to live in based on price, character, proximity to work, schools and daycare, recreation facilities, public transit, etc.
Scan real estate ads in the

Marketing Your Home for Sale: Find Some Time, Get Some Distance

Many detail-oriented tasks and larger decisions will be made when you’re putting your house on the market for sale. One of the most important things to remember, however, to successfully sell your own home is that there’s a difference between the building as a property and the building as your home. While moving out can be emotional, being able to look at your house objectively is crucial for good house staging. Selling your own home is not likely to be a walk in the park, but many people have done it successfully; here are some tips that can help you attain that ever-beneficial objective eye, and hopefully lead to a good selling price, too.

House Staging Step 1: Thorough Cleaning
One of the most important facets of home staging is cleaning. If you want to sell your own home, the cleaning you do before you start showing your property to prospective buyers is an investment and should be treated as such. Remember, while certain areas might look clean enough to you, a prospective buyer is looking through a whole different set of eyes. Once you consider your property thoroughly cleaned, it is a good idea to have a friend or co-worker

Emerging Real Estate Trends in India

The Real Estate market in India has evolved in various ways over the last decade and a half. Right from the fundamental architecture to the way real estate is marketed- the entire spectrum of operations in the space has undergone a sea-change. From mere shelters, homes have evolved into spaces that define personality and lifestyle. Even the middle class has become ever aspirational and seeks luxurious homes.

As the society is also undergoing various societal change, our homes and living have kept pace with those changes. Families are increasingly becoming nuclear, and even smaller. There is a greater influx of migrant population as well as moving population. Homes is not just a luxury, but a necessity that blends into itself various attributes of luxury. From independent houses, homes are now more about creating communities that offer a specific level and taste of lifestyle.

The basic amenities that were largely overlooked in the past are now coming to the fore as the most important and vital components of buying a home because the strains of a hectic work life for both the spouses. This also makes it essential to find a home close to all the amenities you need.

In the not so recent

Home Inspectors Ensure Solid Investments

Would you buy a car without taking a test drive? Purchase a new computer without some research? Or buy stock in a company without asking for professional advice? Probably not since these long-term investments are expensive and come with financial risk. And because a house is obviously the biggest investment you’ll ever make in your life, it’s not only recommended but often required you have a home inspection. A home inspector works for the buyer in any real estate transaction, but is actually hired as a non-bias third-party who can accurately examine and predict potential problems with a property. It’s the crucial, last step in purchasing a house since the results of the assessment affect the final sale and price, so it should never be taken lightly.

House Doctors
Home inspectors are like doctors who still make house calls. They give properties a thorough check-up, examine its current condition, and give a final diagnosis of quality. But unlike doctors, these professionals aren’t handymen: they’re not accountable for repairing any problems. Also, it’s important to realize they’re not assessors: they aren’t responsible for determining financial value. These specialists are only employed to discover possible problems. However, they’re professional evaluation is still critical

Best Luxury Residential Apartments by Ambience Group

The Ambience Group has been striving to take the real estate development in India to a higher level since its establishment back in 1986. The Ambience Group has mainly been working in the National Capital Region.

Residential apartments in Delhi: First Project

The first project this Group took up was the erection of residential apartments in Delhi. However, the project that brought the Ambience Group of real estate developers to fame was the establishment of ‘Ambience Island’.

Ambience Island

It is a premium and luxurious township located in Gurgaon near the outskirts of South Delhi. The ‘Ambience Island’ is a town complete with commercial, residential and recreational facilities. Its lush green golf course is the town’s biggest attraction.

Development of Ambience Tiverton Noida

After the success of ‘Ambience Island’, the Ambience Group is now working on the development of Ambience Tiverton in Noida Sec 50. It is a project aimed at building luxurious residential apartments in Noida’s Sector 50. The project will build 3 and 4 BHK residential apartments.

The Ambience Tiverton Noida sec 50 will comprise of 7 buildings having a total of 440 residential apartments. The residential apartment building is going to be at a prime location near to the metro station and other commercial

Increase Curb Appeal to Sell a Home

Chances are that potential home buyers will drive by at least once when making the decision. It is a fact that increasing your home’s curb appeal will decrease the amount of time it takes to sell your home.

Entrance

It is very important that your home be easy for potential buyers to find, so make sure the house numbers are easy to see from the street. Have an objective person approach your door to see things you might not notice.

  • Does the door need to be painted or replaced?
  • Is there a polished doorknocker or working doorbell?
  • Are the railings secure and sturdy looking?

These initial impressions can help any interested buyers make their decision.

A clean and neat exterior will let the potential buyer know that you have kept the house in good repair. Hire a window-washing service to professionally clean windows and clear away cobwebs and debris.

Siding, Roofing and Gutters

A main concern for most homebuyers is the condition of the roof. No one wants to buy a house that might need a costly new roof in only a few months. Hiring a home inspector will help identify potential problems, like leaky roofing, that could interfere with the sale.

Additionally, the paint

Buying Foreclosed Properties at the Sheriff’s Sale

Buying Foreclosed Properties at the Sheriff’s Sale Buying foreclosures at the Sheriff’s Sale (or auction as it’s commonly known) is one of the best ways to make big profits in the distressed foreclosed property business. It is also the easiest way to lose your shirt. The sale of the real estate comes at the end of the foreclosure process when the defaulting homeowner can’t repair his financial problems with the lender. About half of our states use the “judicial” process when foreclosing mortgages. This process starts with the mortgage document, a security device used to pledge the property as security against the loan.

When a default occurs, the lender will attempt to end the homeowner’s rights of possession to the property. The lender must file suit and prove in court that it has the right to sell the property to recover its loss by virtue of the default and as stipulated in the signed mortgage agreement. If awarded a final judgment from the court, the lender will proceed with the foreclosure and the property will be scheduled for sale.

Foreclosure properties are sold at public auction under the direction of the court in the county where the property is located. The successful

Buying Preforeclosure Real Estate: The Art of Buying Before the Sale

The advantages of buying real estate from homeowners in default can only be measured by the individual investor. Some do not see enough reward, some think it’s too risky, and others are plagued by moral issues. Are you helping the troubled homeowner or taking advantage of his misfortune? Both the lender and the homeowner lose in a foreclosure action. Neither want it to happen. Both parties are motivated to resolve the situation. Motivated parties are key to the process.

The investing window of opportunity opens the day the Lis Pendens, the notice that a legal action is pending, is filed. The window closes the day the real estate property is sold at auction. The time between these two events enables an investor to work with the homeowner and lender to create a work-out strategy or a purchase of the property from the homeowner before the sale date. The amount of time the window remains open depends solely on state and local laws, as well as the behavior of the property owner. Some states sell properties within 90-120 days from the first notice of default. In New York, the process can take a year or more. As for the moral question, keep

5 Steps to Purchasing Fixer-Upper Homes

If you’re planning to purchase a “fixer-upper home” and then renovate it, be sure to review the deed, the property survey and the tax value of that property before you make an offer to purchase.

If the deed names a corporation or an “estate of” as owners of the fixer-upper property (which indicates that the transaction may get complicated), if there are covenants (restrictions) on the deed that would limit the use of the property in a way that is not beneficial to you, if there are any problems at all, then you can save yourself lots of time by finding these things out before you begin negotiating.

1. Talk to the neighbors.
Another good approach before you purchase and renovate a fixer upper home is to talk to the neighbors, who can be an invaluable source of information. They know what that area is like in the dead of winter, in the middle of the night, after a heavy rain, when school is in session, even since the factory closed. They know if there is sufficient parking. They even know where the teenagers hang out, and who has problems with flooding in their basement.

A friend of mine, his wife, and

Using Home Inspections to Your Advantage

Whether you are moving into or moving out of a home, your home inspection report is a tool that will be of great value to you. If you think about it, you have paid someone to do a fairly comprehensive diagnostic test on your home, and their results are yours to keep. This article is designed to educate both home buyers and potential sellers (and homeowners, too) on how to make sure their home inspection is used to their advantage.

Home Inspection Checklist for Homebuyers
First off, if you discover something about a home during the inspection that makes you uncomfortable about purchasing this home, make sure this matter is resolved in some fashion before signing your life away. However, once all that paperwork at closing has been finalized, now is the time to take care of all the small problems listed in the home inspection report.

The best time to handle these projects is before you move in and while you are moving and setting up your new home. Once you are settled and old routines are in place, you are less likely to pursue projects that are potentially disruptive to your daily flow, and some issues on that report require

Should You Auction Your Home

It’s a strategy you may want to consider if it’s important that you sell quickly.

You may be wondering why on earth you would want to do such a strange thing. But a home auction doesn’t involve a lot of people standing around on your front lawn bidding on your house and contents, urged on by a fast-talking guy with a gavel. Rather, it is a sealed-bid marketing strategy that can be very effective in specific situations.

What’s involved is a very intensive period of marketing your home, followed by a pre-arranged date on which all prospective purchasers submit their offers. With the guidance of your real estate agent, you pick the most promising offer and begin negotiating with that bidder, giving them just a few hours to respond to your counter-offer. If you can’t make a deal, you immediately begin working with the bidder who made the next-best offer, again making a quick counter-offer and requesting a quick response.

The idea is to compress the time the house is on the market and achieve a fast sale at a good price. Because all bids must be submitted on the same date, prospective purchasers know they will likely have competition and have

Resale Value, Remodeling and Repairs

As a living space, our homes’ design and condition affect our lives daily. As an investment, its value in the marketplace is something we seek to preserve and enhance. When considering home repairs and improvement projects, we must consider both the benefits the job will add to our daily lives and the amount of resale value the job is likely to add, as well.

Home Repairs, Maintenance, and Remodeling
For basic home repairs and maintenance that are needed around the home, your decision is relatively simple. In general, a well-maintained home yields better day-to-day service and provides long-term financial returns. Home repairs are best taken care of as soon as they are noticed: problems are solved while still small, and the home remains a safe and comfortable place in which to live.

Decisions to undertake renovations, remodeling, or other major home improvements are more complex. The best starting point is your own desire. How much more do you think you will enjoy your home if you go ahead with the project? If you are planning to stay in the house ten years or more, most of your decision should be based on how much the enhancements will improve your lifestyle. If your