Arizona Mortgage What to Expect When Buying a Home in Arizona

Maybe you are buying your first home in Arizona, or perhaps you are relocating to Arizona from another state. Either way, it?s important that you educate yourself on Arizona home loans before shopping for a home and mortgage. This article explains what you will need to know before buying a home in Arizona:

The median price of a home in Arizona is $121,300. Recently, homes in Arizona have been appreciating at rates more than double the national average. As a result, income levels in many parts of Arizona are too low to purchase a median-priced home with a conventional loan. In fact, homeowners in many Arizona cities pay more than the recommended 30% of their incomes toward housing.

The price of homes in Arizona varies widely between zip codes. For example, in Scottsdale, Arizona, the median price of a home in the summer of 2005 was $500,000; however, in Mesa, Arizona, the median price of a home was $275,000, and in Tucson, Arizona, it was $200,000. Average interest and job growth rates in Arizona are above the national average.

Arizona law does not require prepayment penalty options on sub-prime loans. Although Arizona does not currently have any anti-predatory lending laws, it does distribute informational pamphlets to its residents in an effort to get residents to educate themselves so that they can avoid predatory lenders.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Arizona Mortgage Rates and Loans .

What Is A Mortgage Contingency Clause In A Real Estate Contract

A mortgage contingency clause is a provision in the home purchase contract that stipulated that if the prospective buyer can not get a mortgage within a fixed period of time, this prospective buyer will be able call the whole deal off. In other words, the agreement is conditional on the buyer being able to obtain a mortgage on the property.

Be careful when dealing with contingency clause. Any real estate officer or loan officer will tell you that there is no universal standard mortgage contingency clause. The seller would prefer that the sale close no matter how high the interest rate and how awful the terms the mortgage carries for the buyer. But the buyer wants to be sure that if he cannot get the mortgage he is counting on, such as one with 90% financing on a 30-year loan, the mortgage at no more than a specific rate, he can stop the transaction and recover the down payment. Both the buyer and the seller need to get some security about the deal to happen. The seller may be too concerned that the buyer is leaving the transaction too uncertain. Therefore these provisions are often negotiated.

General contingency clauses are very often to a contract. You can find appraisal clause stipulating that the sale is conditional to a certain amount of the value of the house. House inspection clause stating contingencies that deal with the presence of insect and other toxic substances or with the tests to verify that a septic system or well is functioning properly. You will find thousands of contingencies clause. Everything comes down to your ability to bargain and deal with the seller. But the hardest to bargain is the mortgage contingency clause on the ground that it affects directly your financial commitment.

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Some HOA Rules To Watch Our For When Buying

In our modern society, homeowner?s associations and their rules govern more and more housing developments. Some rules can be very restrictive.

Some HOA Rules To Watch Our For When Buying

If you are considering buying a home, there are wide variety of things you need to keep in mind. These days, many newer homes are parts of developments and developments come with something known as homeowner?s associations. A homeowner?s association is essentially a cooperative for a development run by the owners of the various homes.

The association is created by the original developer who sets out a variety of rules regarding what can and cannot be done by homeowners living in the development. The idea behind the rules is to keep the neighborhood appearance uniform as well as maintain common areas such as landscaping, pools and so on. These rules can be changed, but it is fairly difficult to get all the homeowners to agree to do so.

If you are considering buying a home in a development, you need to be very careful. Specifically, you need to read the rules of the homeowner?s association. Then you need to read them again. They are boring and tend to be rather thick. Fail to read them, however, and you can end up with a home where you cannot live the lifestyle you are used to.

Things to watch out for include:

1. Are pets allowed in the development? If so, are there restrictions on the kind or pets? Are there restrictions on the number of pets? Many developments have severe restrictions in this regard.

2. Parking is an often overlooked issue by many home buyers. Specifically, the rules may contain restrictions on the number of cars that can be parked on the street, in a driveway and so on. If you have teenagers, this can quickly become a problem.

3. If you decide you want to rent your property at some point, you may be surprised to learn some association rules are so restrictive as to make it impossible. Again, read the language closely.

4. If you prefer to change the oil on your car yourself or do some maintenance, many associations bar any such activity.

5. If you have younger children, you might be surprised to learn that some homeowner?s association do not allow them to play in the front yard. Talk about a nightmare.

The list of rules and regulations for developments tend to be voluminous and a bit on the heavy handed side. Make sure to inspect them closely before buying into a development.

Raynor James is with the site - FSBO America - FSBO homes for sale by owner.

Elegant Real Estate Locations in Paris France II: The Elegant Faubourg Saint Germain

The aristocratic ?Faubourg Saint Germain? is situated on the southern riverbank behind the well-known ?Mus?e d?Orsay? and includes the entire area between the skirts of ?Saint Germain-des-Pr?s? and the ?Esplanade des Invalides?.

The historic origin of this district dates back to the late 17th century. After King Louis XIV?s decision to build the ?Invalides? church and its flamboyant golden dome, the big meadow toward ?Saint Germain-des-Pr?s? began to attract many investors.

Primarily aristocrats purchased large plots. They were inspired by leading architects and constructed splendid town palaces, the so-called ?h?tels particuliers? which are architecturally very interesting. A modest wall facing the street is in stark contrast to the exquisite interior. Directly opposite and across from a spacious courtyard, the so-called ?cour d?honneur?, is the main part of the building, the ?corps de logis?, which has a beautiful garden behind it. The entire setting is flanked by two lateral wings on either side of the courtyard but the most precious apartments are situated in the main building between the courtyard and the garden; in French ?entre cour et jardin?. Most ?h?tels particuliers? (the term has nothing to do with ?hotels?) are considered monuments of French history and house important institutions, such as ministries and embassies. They are very rarely divided up and sold as apartments.

Some ?h?tels particuliers? are open to the public for visits. Although its architecture does not entirely follow the traditional setting, one of the most attractive is the so-called ?H?tel de Biron? at ?77, rue de Varenne? which houses the famous ?Mus?e Rodin?. The sculptor himself lived there and its magnificent park showcases many of his famous sculptures.

Except for the ?Mus?e d?Orsay?, the ?Mus?e Rodin? and some heavily guarded and important political institutions, the ?Faubourg Saint Germain? does not offer spectacular sights. One of the most interesting features may be the simple fact that it is a very pleasant residential area offering attractive family apartments and excellent shopping facilities right in the centre of the city.

KHS is a real estate agent in Paris ? KHS Apartments Paris ? specialising in selling and renting first- class apartments in the French capital. Read also the new ? KHS Paris Real Estate Blog ?

Moving And Relocating Tips

I know how stressful and chaotic moving and relocating can be. We moved from one part of Tucson to another in March of this year, and then in June we bought a home and relocated to Colorado. Here are some of the lessons we and others have learned.

1. Make and use lists. We all forget things, even after remembering them several times. Put them on that list during one of these times. Make a list of things to do before the move, including getting school documents transferred, filling out change of address forms, returning borrowed books and movies, transferring prescriptions, getting maps, and arranging utility shut offs and start ups.

2. Call the moving company and make the reservation a month ahead. You don't want to discover that they are booked up on the date you need them. We found out that the type of van we wanted wasn't available, but this was easily resolved because we started the process early.

3. Sell and throw away things. Carefully consider what you need to keep. Many people spend hundreds of dollars to move things that will probably be thrown away some day. It isn't just about the expense either, but also about the hassle. When you are moving and especially when you are relocating to another city - this is the best time to get rid of the things you really don't need.

4. Have a rummage sale. This is a good way to get rid of those things, and you might even raise enough money to pay for the move. Again, it is best to be rid of your things before the move. We went to a after-the-move rummage sale the other day. What a shame to pack and pay to move all those things just to have to work to sell them for pennies later.

5. Start packing early. not only is it difficult to predict how long it will take until you are doing it, but you never know how much time you'll have later. Starting early means avoiding running around looking for boxes and packing materials at the last moment.

6. Pack an essentials box for when you arrive at your new home. This should have the things you need to make your arrival easier, like toilet paper, paper plates, soap and such. Carry the box where it is easily accessible.

7. Let everyone know where you are relocating to. Give family and friends of your new address and phone number(s), and do this before you have the current phone shut off. Call all your credit card companies with your new address. Change the address on any subscriptions too.

8. Check weather reports for moving day. You don't want to arrive in a snowstorm with your coat packed away somewhere. You will also need to allow for extra moving time if the weather is going to slow down traffic.

9. Save all your receipts. Keep receipts for moving expenses, like gas, hotel rooms, and anything else related to moving and relocating. Ask your accountant or tax preparer if you are eligible for a tax deduction for moving expenses. Usually you are, if the move is for employment purposes.

10. When you move into your new home, try to reestablish your routines quickly. If Friday night is normally movie night, don't break with the tradition. Moving and relocating are less traumatic if you have some consistency in daily life. If you're moving with children, this could be one of the more important moving tips.

Copyright Steve Gillman. Visit his website for:

1. A photo of a beautiful house he and his wife bought for $17,500.
2. A free book on how to save thousands buying your next home.
3. A free real estate investing course. Visit http://www.HousesUnderFiftyThousand.com

What You Need To Know To Stop Foreclosure on Your Home

Understanding how to stop foreclosure is essential, especially if you find yourself unable to make mortgage payments. The faster you act when facing financial problems, the easier it will be to stop foreclosure homes. The longer you are in denial, the fewer options you will have.

Even if you have bad credit, if your home has a lot of equity you may be able to get a refinance home loan package. If you can borrow enough money on a new home loan to pay off your mortgage, arrears, and by costs, you canstop foreclosure.

In most states, the law stipulates that if you pay your arrears in full, your lender must stop foreclosure. If you don't owe much in arrears, this is a useful option to keep in mind, especially if you have some way of raising the funds.

You and your creditor may be able to come to some sort of agreement to stop foreclosure. There are several ways to do this:

You can choose to let a third party negotiate for the home loan to be settled for less than the original amount. A new loan is arranged to pay the lender the late payments and the various transaction fees that have accrued.

If you are not very behind, your lender may be convinced to temporarily lower your monthly payments, your interest, or bywise make repayment easier for you. A professional stop foreclosure negotiator may be able to help you accomplish this and stop foreclosure on your home.

If you can, arrange with your lender to pay as much of your arrears as possible up front. Pay the rest in agreed-upon monthly increments in addition to regular payments. For this to work, you need a down payment and proof of income. However, most lenders will happily accept this agreement and stop foreclosure proceedings.

You can try forbearance. In this situation, the creditor agrees to stop foreclosures proceedings and legal action. In exchange, the debtor must agree to pay a specific sum of money, make property repairs, or possibly put the property up for sale.

http://www.foreclosuredeals.com/stopforeclosure.html

Vermont Mortgage What to Expect When Buying a Home in Vermont

Maybe you?re buying your first home in Vermont, or perhaps you?re relocating to Vermont from another state. Either way, it?s important that you educate yourself on Vermont home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Vermont:

The median price of a home in Vermont is $111,500. Recently, homes in Vermont have been appreciating at rates above the national average. As a result, income levels in many parts of Vermont are too low to purchase a median-priced home with a conventional loan. In fact, homeowners in many Vermont cities pay more than the recommended 30% of their incomes toward housing.

The price of homes in Vermont varies widely between zip codes. For example, in Burlington, Vermont, the median price of a home in the summer of 2005 was $338,000; however, in Montpelier, Vermont, the median price of a home was $294,000, and in Rutland, Vermont, it was $288,000. Average interest rates in Vermont are below the national average, and job growth rates are comparable to the national average.

Vermont state law prohibits the issuance of home equity lines of credit. Additionally, it requires that a defective mortgage be treated as though it had never been recorded.

Each year the Vermont Housing Finance Agency hosts a Home Buyer Fair where potential homeowners can meet and talk to mortgage lenders, realtors, attorneys, home energy specialists, among others. The Home Buyer Fair offers homebuyer education workshops, credit and budget counseling, post-purchase counseling, and post-purchase workshops.

Vermont?s Housing Finance Agency provides low interest financing to homeowners who meet certain income and purchase price limits. Information on these programs is also available at the Home Buyer Fair.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Vermont Mortgage Rates and Loans .

5 Tips To Buy Cheap Seized Homes From Government Auctions

One way on how people can get their dream home, or an ideal home is by checking out the latest government auctions for confiscated, sequestered or seized homes.

Through the activity, governments are able to convert to cash the asset or property they have acquired legally. Many people are interested and excited about buying homes during such transactions because they find these homes priced practically.

It also follows that the homes auctioned by the government are quality houses whose values are definitely at premium or more than the tag prices attached to them through the auction process.

Here are some useful tips that could help you buy the perfect home during government auctions for seized houses.

1. Seek the advise of experts. In this case, brokers or home agents will be the principal people you should deal with. The setback would be, that you have to pay them commission, making the acquisition price seem more.

2. If you do not want to seek the help of agents or brokers or you simply do not want to pay commissions, rely on yourself and follow your instincts. Buying such houses would definitely not fall different from buying commodities or things at shops and department stores.

3. Inspect the overall features of the house and find all the obvious flaws and ruins. That would make for significant discounts. Also consider the location of the house. If the location is easily accessible, then higher pricing is justified. Otherwise, haggle and point out the location factor.

4. As much as possible stick to practical prices. Some government auctions are like bidding when the highest bidder gets the prize. Since the times are hard, those days are almost not happening anymore.

5. Arrange for payments, whether it be in cash, in cheques, or in installment terms. Remember, you are dealing with the government, so expect the legalities and documentary aspects of the transaction to be really meticulous and tedious.

Buying homes during government auctions would not be a hard task, if you would only open up your mind and maintain focus. The name of the game is always focus, so do not lose it when you see your dream house. Keep your eyes on the house, and the tag price as well, and you would not go astray.

For listings of cheap seized homes, please visit http://www.real-estate-foreclosed-home.info/

Costa Rica Property ? Why Prices Will Continue To Provide Stunning Gains

Many property investors think that the boom in Costa Rica property will not continue but the fact is it will and can provide better rewards with lower risk than other Central American countries.

While other markets such as Nicaragua and Belize are supposed to be the new hot spots, however Costa Rica will maintain its lead for the following reasons:

1. It's an established market

Costa Rica property is not a market waiting to take off - it has.

This gives confidence for people to invest and the large expat population gives people confidence to come and live and buy and they are doing so in record numbers.

Costa Rica property prices are booming because of this influx in investment that shows no sigh of slowing down ? This means higher prices.

Most new property hot spots in fail to take off, so going with Costa Rica property you get the best of both world?s - Strong upward growth and a track record of triple digit annual gains in many locations.

2. Costa Rica is stable and safe

Costa Rica is stable, safe and democratic this makes Costa Rica property investors feel safe with their investments.

The government encourages overseas investment and investors get the same rights as residents when they buy.

Consider a country such as Nicaragua where the Sandinistas have very real chance of getting in power and with their record on taking things would you want the risk?

3. Costa Rica is rich

In comparison to its neighbours and that?s what Americans and other foreigners like.

They want to live in a different culture but not one to different from home.

Many Central American countries are poorer with street children; poor infrastructure and serious crime and this makes them less attractive.

Where to buy for big gains and low risk

An area that will continue to do well is the popular Central Pacific Coast around the town of Jaco consider this:

Investors that purchased $30,000 of Costa Rica property in the town of Jaco just 15 years ago are now worth as much as $750,000.

Another example of this boom is the Marriot Corporation which built its crown jewel of Latin America Los Suenos Resort and pre sold 50 condos of 2000 square feet for $250,000. The next year Marriot sold another fifty at $350,000. Now this years upper end units are being sold between $450,000 to $850,000!

This area is booming and continues to do so offering great capital gains potential with low risk

Buy in the right location for triple digit annual gains

Far from being over the Costa Rica property boom looks set to continue as investment soars and it becomes the main focus for Americans looking for overseas second or retirement homes.

Buying Costa Rica property simply offers great gains with low risk and we expect it to continue to maintain its lead over its rivals.

FREE REPORT on how to make big capital gains by investing in property is available at our website with all the facts you need to help you buy properties in the right locations for stunning gains with low risk: http://www.costaricalandlots.com

Investigate Surrounding Vacant Land Before Buying

Homebuyers are always looking for an ideal situation with low prices. If you are looking in an area with open land around it, you absolutely must investigate the plans for the area.

You have been out shopping for a home for months and have not found that perfect specimen. One day you come upon a home that meets your needs and fits your price. The home is on a little dead-end street. You are happy with this aspect because you have kids and view the lack of traffic as a positive. You also happen to note there is a big, open field behind the house, but think little of it. Simply put, you are playing with fire.

Assume you go ahead and purchase the home. You move in, get the kids enrolled in school and basically get comfortable in your new home. After a month or so, you are laying in bed at six in the morning when there is suddenly an ungodly racket. You stagger out of bed and notice it coming from the backyard. Walking outside, you are met with an image of bulldozers grading the peaceful field behind you. Congratulations! You have just become a neighbor of a strip mall, Wal-Marts or some other monstrosity.

You may think this never happens, but the exact opposite occurs every day. If there are vacant lots of land around a property you are considering buying, you must investigate them. Are they zoned only for residential use or is commercial zoning available?

If they are approved for commercial use, you need to give some serious thought to whether the property is for you. How will you feel about living next to a business area? How much traffic will it add to your neighborhood? How much noise pollution will there be? What will the commercial development do to the value of the home? These are all questions you must consider and answer.

Finding a property in an area with plenty of open space sounds wonderful. If you investigate the area, you can avoid the situation turning into a nightmare.

Raynor James is with the site - FSBOAmerica.org - home buying information.

10 Best Cities for Real Estate in 2006

Buy, sell or hold seem to be the biggest worries of home buyers and real estate investors in the 2006 residential real estate market. After solid double-digit appreciation in many major markets the last five years, investors and home buyers alike see the brakes on growth in 2006. Where to go? Mark Nash real estate author of 1001 Tips for Buying and Selling a Home lays out where investors and home buyers can make a go it in 2006.

-Atlanta, Georgia. Below average appreciation rates that have not matched other major markets.

-Austin, Texas. Good news here, affordable housing prices attracting employers. Rising appreciation.

-Boise, Idaho. New on real estate investors radar, attracting scores of out-of-state buyers. Good profit prospects.

-Dallas, Texas. Prices creeping upward, fueling investor interest. Many tired of northern winters put this on their must-move-to destination list.

-Houston, Texas. Demand from Katrina transplants driving a strong market, plus attractive pricing is making this a popular relocation market.

-Las Vegas, Nevada. Market returning to normal appreciation rates, demand stays steady. One of the fastest growing areas in the country.

-Phoenix, Arizona. Ignored in the boom, now being discovered by investors. Most cities here are bargain-priced.

-San Antonio, Texas. Waking from a stagnant appreciation period. Good returns projected here for the next several years.

-Seattle, Washington. Good economy and low inventories offer attractive appreciation gains in 2006.

-Milwaukee, Wisconsin. Solid Midwestern values speculate-proof this burgeoning market.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. His tried and true real estate tips has been featured on Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. Purchase his books at http://www.1001RealEstateTips.com.

First Time Home Buyers

Are you itching to experience the feeling of having a home that you can call your own? You can do it. With a little help from the experts, you can achieve complete independence by owning a home ? one that you would have sole responsibility for. This would be a far cry from the one that you grew up in. There would be no rules in this one ? just your own.

Are you a first-time home buyer?

Technically speaking, first-time homebuyers are those who have not had any kind of ownership in a home for three years. So, generally, if you have had an ownership interest in a home more than three years ago, then you could be considered as a first-time homebuyer again.

Now you?re looking for a home. Where do you start?

The two things that a first-time home buyer such as yourself should do is to (a) try to understand more about the home buying process and its technicalities, and (b) find out which financial resources are best for your particular situation (unless you were born with a silver spoon in your mouth, in which case you certainly would not need a loan from the bank).

Knowledge for and about first-time home buyers has been scattered throughout the internet so as to provide people like you with insight and basic knowledge as to what they need to do and expect with regard to buying a home.

There are several first-time homebuyer programs that are designed to help people like you find a home that suits your needs and your finances.

First Time Home Buyer provides detailed information on First Time Home Buyers, First Time Home Buyer Programs, First Time Home Buyer Grants, First Time Home Buyer Loans and more. First Time Home Buyer is affiliated with Home Owner Insurance Rates.

Spurt in Prices of UK Land ? An Ideal Investment Opportunity?

UK is becoming densely populated to an untenable level. This has led to an acute housing shortage and a sharp rise in UK Land for Sale prices.

Prices for housing and land in UK has shown continuous upward trend due to a robust growth in average earnings - predicted to be close to 5% this year - as well as cuts in interest rates that has combined to prop-up the housing market .

According to Milan Khatri, chief economist at the Royal Institution of Chartered Surveyors, the medium term outlook is for steady price growth.

Despite a fall in the number of mortgage approvals in April, which are viewed as a forward indicator of housing demand, activity remains above the historical average and still point to firm demand conditions, Mr. Khatri said.

Thus investments in UK Land for sale market are increasingly becoming attractive to common investors.

UK Land Highlights

? Unlike equities, the capital growth of land investments is attractive and so is the downside risk
? Better growth and lower downside risk than ANY other investment.
? Growth is consistent
? Unlike equities and land in the right location does not suffer long periods of cyclical decline.

Today, there are a number of companies serving smaller investors select plots of land to buy, and investments typically start at about $10,000.

Following types of plots of land for sale are available across the UK -

Brownfield Land: Brownfield Land is the common term used for previously developed land i.e. land that is or was occupied by a permanent structure. This land is often smaller, resulting in High Rise Development e.g. old petrol station and factories.

Greenfield Land: Greenfield Land simply refers to land that has never been used for development eg Farmland.

Greenbelt Land: Greenbelt Land is largely undeveloped or sparsely occupied land, which historically has been set aside to contain development, prevent towns merging and provide open space. Greenbelt boundaries can change in response to the requirements for additional housing in a controlled manner.

While there is some opposition against moves to grant planning permission to builders on greenbelt and greenfield land but keeping in view the acute mismatch between expected demand for housing and the amount of land available for planned development such moves are necessary.

Moreover release of such land for planned development would create jobs and opportunities in those areas and by increase in the supply the house prices would automatically lower, thereby ensuring that everyone can afford to become a home owner. At present, for the ambitious young generation to own a home is easier said than done. It is also very difficult for the low waged population to build there own homes.

Thus be it a farmland, greenbelt land, greenfield land or brownfield land, buying plots of land for sale has the potential to make stunning returns quickly. Infact prices of land in UK have increased by a stunning 926% in last two decades.

UK Land for Sale Market is thus expected to show a steady increase for coming decade and could prove to be an ideal investment vehicle for common investors

Stephen Brewood
Land Plots For Sale in UK

Minnesota Mortgage What to Expect When Buying a Home in Minnesota

Maybe you?re buying your first home in Minnesota, or perhaps you?re relocating to Minnesota from another state. Either way, it?s important that you educate yourself on Minnesota home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Minnesota:

The median price of a home in Minnesota is $122,400. The price of homes in Minnesota varies widely between zip codes. For example, in Minneapolis, Minnesota, the median price of a home in the summer of 2005 was $320,000; however, in Plymouth, Minnesota, the median price of a home was $214,000, and in Forest Lake, Minnesota, it was $225,000. Average interest and job growth rates in South Dakota are both below the national average.

Minnesota law prohibits the financing of points and fees on a mortgage that are more than 5% of the loan amount. Additionally, Minnesota limits the ownership of agricultural land to U.S. citizens and permanent residents, and corporations owned at least 80% by U.S. citizens and permanent residents.

The state of Minnesota does not regulate home radon levels. This means that home buyers must test for radon levels in the home they are purchasing and decide for themselves how much radon is acceptable in their home.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Minnesota Mortgage Rates and Loans.

Interest Rates Are Rising What Can You Do?

The recent tension in the middle east and the sharp rise in fuel prices have already caused a stir in the Reserve Bank in Australia. Today they increased interest rates for the second time this year. People were on the news saying they were already cash strapped and had been watching their spending. They are going to feel the pinch over the next few months. As real estate property investors, what should we do then? Here?s is a list of priorities that need to be addressed:

First priority.

Exercise extreme caution and prudent due diligence on potential deals

Look at ways to reduce debt, particularly in the following situations:

* Personal debt (credit cards, personal loans)

* Home equity funded personal debt (equity loans used for lifestyle)

* Investment debt against non-income (i.e. growth) bearing property

Review your property portfolio

* Have strategies for protecting interest rate sensitive property

* Consider cutting the asking price for your real estate investment property that has been on the market

for some time

* Re visit your calculations on your present deals based on interest rates being .75% higher. Act to protect your self and provide a buffer

Now would be an appropriate time to see your financial adviser and review your investments assets

Second Priority

Build cash reserves. Cash is king, money talks B/S walks.

Increase your financial literacy. Anyone can make money in a boom, but it is much harder in uncertain times. Get your self more education and a mentor, attend more seminars.

Renegotiate and lock in employment contracts, particularly subcontractors

Defer non-essential lifestyle expenditure

Third Priority

If you are looking to borrow money for a real estate investment property, start working on a business plan

Keep networking with people, you may not need them now, but you may need them in the future, proximity is power! A good peer group of people will propel your wealth creation.

Avoid

Risky deals that require hard cash

Using your home equity to fund non-deductible lifestyle debt (jet ski?s, holidays, motor bikes and cars etc)

Don?t quit your job to become a full time investor

The financial excess that was in the boom times will quickly disappear when higher interest rates arrive. Times have changed and will change further. It?s is critical that you always educate your self to the changing trends in real estate investing. If you need help then seek it out immediately, money and time spent to do this will pay huge dividends in the long run.

To your investing success.

Leo Love

www.therealestateinvester.com

PS If any of your family or friends is interested please pass this on to them.

http://www.therealestateinvester.com

I am an experienced and passionate investor. I buy typical mum and dad type houses that give me cash flow and capital growth. My website offers helpful tips and ideas for any type of investor to help you with your wealth creation. Using my site will help to prevent you falling into the traps the inexperienced investors do.

Agent Marketing Minute: Email Signatures

Maximize your signature. Add a timely or seasonal message to your signature. Time to spring ahead, change your clocks on April 10th, Be extra alert it's back to school. Add a testimonial from a client, Thank-you for all your help in the purchase of our new house,your experience and patience was invaluable. The Smiths, 123 Main Street, Anytown USA. Congratulate local sports teams on winning, go Wildcats on another winning the championship! Promote an upcoming non-profit benefit, Breast cancer walk on October 1st, if you want to donate or walk, contact me.

Or think about including a definition of the week, utilize real estate terms and designations, earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer?s good faith. Do a fast real estate fact from local, state or national real estate associations, such as the average homeowner stays in their home 5.7 years according to the The National Association of Realtors(R) 2005 profile of home buyers and sellers. Add value to all your email correspondence, and always take the time to spell check your signature, it is worth the time to make sure you send the right impression.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. He contributes residential real estate analysis to Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today.

View his books at http://www.1001RealEstateTips.com.

Mortgage Marketing: Getting Those Closed Doors to Open With Real Estate Agents

Having trouble getting in to see real estate agents? You may find yourself hardly getting past your introductions before you are tuned out and it is almost impossible to change their minds long enough to give you a chance.

There is a way to overcome that invisible wall that comes up between you and the agent. It is a simple method refer to as focus on receptivity.

Basically, you need to focus on people that are receptive to you and your business. That person could be another agent in the office, a broker, the office manager, or even a receptionist. But the challenge is finding someone that is receptive.

Many industries have tried methods to build receptive connections, one great example is the headhunting business. Headhunters have it down to a science. Imagine getting a call from a headhunter. They immediately launch into their pitch about a great position with a six figure salary and complete medical and dental benefits with a company car included. Then before you can respond, they ask you if you know of anyone that might be interested in the job.

They have certainly got your attention, and they have taken the pressure off of you by giving you the out. Of course, by this time, you do not want to pass on this great opportunity.

You can use the same technique with your mortgage business. Start off with something like this:

Hi Steve, my name is Jeff and I have something important that I hope you can help me with. I am looking for a agent who is trying to find a lender that consistently produces referrals, helps double traffic to open houses, offers marketing assistance and always closes loans on time. Do you know of a agent in your office, or even have a contact from another office, that might be interested?

When you use an approach similar to this, you avoid creating a confrontation issue, instead it seems merely conversational. You are asking for their assistance or input, which is far less threatening, and makes them much more receptive.

Ultimately, you will get either get a referral for another agent, or the agent will jump in and ask for your assistance. There are other options for finding receptive people.

Find A Sponsor

Another option for establishing receptive relationships is to seek a sponsor. When you have a sponsor in the office, that person is far more likely to introduce you to others in the office and those people are far more likely to listen to you.

Do not overlook the support staff in the office. A receptionist can be your best friend. They know exactly what is going on in the office. Develop a friendship with the receptionist based on respect and genuine admiration and they will be an important asset.

The receptionist in most real estate firms watches a lot of high profit business go by, while they are on the low end of the totem pole. They can be very appreciative of attention, praise, and even occasionally small gifts. Do not push the friendship, let it unfold and they will be more than happy to support your efforts by giving you the names of the agents, along with their cell phone numbers and emails.

Give a Peace Offering

Whether it is a receptionist or an agent most people respond to a gift and consider it a peace offering. There are lots of little gifts that are inexpensive, while still being of value and putting a visual reminder of you and your business in an office space. One example is a small motivational book (these can be small enough to fit in a jacket pocket and only cost a couple dollars each), informational articles on marketing and real estate, and desktop items such as pens, paperweight, etc.

When you invest in creating receptive people, you earn interest that can yield big rewards for your business in the future.

Jeff Nelson helps loan officers increase loan originations by attracting quality relationships with real estate agents from the development of customized relationship-building strategies.

Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet.

Visit us at http://www.loan-officer-marketing.com

Relocating? America's Top Ten Most Livable Cities

Each year, Money magazine rates hundreds of American cities in order to help folks who may be yearning to move be able to find the best new place to settle. The magazine compiles statistics on various factors, such as housing affordability, job growth, commute time, schools, weather, access to health care, leisure pursuit possibilities, crime rate, and quality of life, and then publishes its findings once a year.

For the year 2006, the overall winner was Fort Collins, Colorado, followed by Naperville, Illinois, and Sugar Land, Texas. Money magazine was especially impressed by the many parks in Fort Collins, including some sixty miles of biking and hiking trails in a town of 128,000 people located some 5,000 feet up in the Rocky Mountains. There are plenty of jobs in Fort Collins, too, with giant companies like HP, Eastman Kodak, and Agilent Technologies maintaining a large presence in town. Fort Collins is also the home of Colorado St. University and Poudre Valley Hospital, which provide 10,000 more jobs between them.

Rounding out the rest of the top ten most livable American towns were: Columbia/Ellicott City, Maryland; Cary, North Carolina; Overland Park, Kansas; Scottsdale, Arizona; Boise, Idaho; Fairfield, Connecticut; and Eden Prairie, Minnesota.

Money magazine also rates the country's largest cities annually, as well, and publishes a separate list of America's top ten most livable big cities. This year's winner was Colorado Springs, Colorado, making it a clean sweep for the Centennial State, although Colorado Springs was the second smallest city on the list in population, at 369,800. Coming in second was Austin, Texas (690,300), followed by Mesa, Arizona (442,800).

The top ten list of big cities was rounded out by Raleigh, North Carolina (341,500); San Diego, California (1,255,500); Virginia Beach, Virginia (438,400); Omaha, Nebraska (414,500); Wichita, Kansas (354,900); and New York, New York (8,143,200).

Since many people are concerned about crime, Money ranked cities according to crime rates, and the safest city in America turned out to be Wayne, New Jersey, followed by a pair of Connecticut towns, Fairfield and Greenwich. Two Nevada towns, Paradise and Sunrise Manor, were next, and the rest of the top ten was comprised of another Connecticut town (Manchester, 7th); and four more New Jersey cities (East Brunswick, 6th; Cherry Hill, 8th, Edison, 9th, and Hamilton, 10th).

If you're single and yearn to live in a city with lots of other single people, Money magazine's data suggests moving to Bloomington, Indiana, where 58.2% of the population is unattached. There were nine other American towns in which more than half the residents were single, including New Brunswick, New Jersey (54.6%); College Station, Texas (54.3%); Ames (52.5%) and Iowa City (52%), Iowa; Cambridge (52%), Somerville (51.3%), and Boston (50.4%), Massachusetts; Berkeley, California (50.3%); and Champaign, Illinois (50.2%).

If you're thinking about relocating, there are many factors to consider. Explore your options and make your own list of priorities.

Copyright ? 2006 Jeanette J. Fisher

Find out why your home selection--including your community--makes such a difference in your quality of life and happiness. Free Power of Home report ebook at http://www.jeanettefisher.com/powerofhome.htm

Jeanette Fisher teaches interior design psychology and real estate investing.

Property Renovations: Part 2 More Focus Areas

In Part One of our discussion, we focused on several aspects of home renovation that are important for success in your investment. Last time, we focused on more of the smaller details - the garden, repairing and touching-up minor damages, fences, etc. Now, we should focus on some of the more noticeable areas of property renovations.

It?s very important to check for any electrical or plumbing problems before you start doing any painting on the interior of the home. This way, you won?t run into any problems down the road with re-painting if any damage occurs.

Painting your interior is important stuff - you?d be surprised at the degree that paint affects the selling price. The key is to do your math first; if you feel like painting yourself would save enough money and could be in done in an adequate amount of time, you should use the do-it-yourself approach. However, if you are inexperienced and are unable to devote enough time and effort into the project, letting a professional do the job is probably the safest route.

When approaching the paint job, keep in mind the K.I.S.S. principle: Keep It Simple, Stupid! Don?t let your personal preferences affect the way you go about your property renovations. The following are some basic painting rules you should follow:

1. Always prepare surfaces prior to painting. Be sure to wash down walls, and repair any cracks or holes, and sand, where needed. Bathrooms and kitchens are the most susceptible to grime and mold, so pay close attention.

2. Use one color. It saves you time and money. Gloss paint usually appears darker, providing slight contrast. The condition of the trims should determine the use of gloss or semi-gloss. Remember, as well, that gloss tends to highlight imperfections.

3. Make a trip to the paint store and browse the newest colors. Feature walls are an effective way to add some pizzazz to your paint job. Dark, small rooms and dark paint do not mix; this only enhances the problem.

4. If there are darker colors or wall stains, you should use a special sealer. If you don?t, and you apply extra coats of paint, the walls will remain stained.

5. Wallpaper trims often add a nice touch, so apply when needed.

The kitchen, for many homeowners, is the center of attention. Kitchen remodeling, however, can get pricey, so you may want to stick to changing minor features on the property. Renovations such as new bench tops, repainted cabinet doors, and new wall tiles are all simple fixes. New door handles, faucets, and wallpaper trims are all low-cost solutions, as well.

Sometimes a quick facelift isn?t enough. On some occasions, a kitchen may need to be fully replaced. If this happens, remember the K.I.S.S. approach, and don?t go overboard. Many suppliers offer kitchen kits which are ready to assemble; these can help save loads of time if you come across them. Keep the kitchen light and bright, with cheerful curtains.

Make sure all appliances are in working order, and only replace if it is unavoidable. Install a durable floor, and test all faucets, to ensure that water pressure is adequate. If you run across second-hand items in good condition, make use of them.

Everything you just read is very important to property renovations, but we are finished here, yet. In the third installment, we?ll discuss even more tips that can help you achieve success.

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Help I Have to Evict My Nephew!

The eviction of a friend or relative is not easy to do. It has to be one of the most difficult lawsuits, if not the most emotionally draining, of all types of evictions. You may be one of the lucky ones who can rent to a friend or relative with no side effects. Still one day, there may come a time when you have to look your friend or family member in the eyes, and ask him or her to leave your apartment.

In the eviction of a relative stranger, even a long-term tenant, the process isn?t personal, just business. The tenant can?t pay the rent, so he has to leave. It?s the end of an association with more or less minimal emotional ties between the tenant and the landlord.

Evicting a friend or relative is one in which sides may be chosen, and lines drawn in the sand. Once the eviction notice has been delivered, do not expect many friends or allies to come to your aid. Depending upon the circumstances of the eviction, you can expect to have your life made miserable by anyone impacted by your decision.

This is because the expectations of a friend or relation are much higher than that of a stranger. If there is a tenancy problem, the expectation is that you will treat the tenant more as a friend or relative than as a financial investment problem. You will be asked to accept less than you normally would for rent arrears, to wait longer for your rent, and to accept behaviors that you would not normally tolerate.

For example, let?s say you need to raise the rent. A rent increase could be perceived as a betrayal of your friendship. Your aunt could think you are taking advantage of her. It doesn?t make sense, but when money is concerned, all bets are off. As far as a friend or relative is concerned, you are in his or her pocket. A belief that you are soaking your tenant for more money that you ?don?t really need? could cause your family member to not pay the increase.

Be clear and resolved about why the eviction must take place. Have all of your written documentation in place. Check all of your paperwork, rent cards, letters of warning etc. before you send your notice to quit. Make sure you have a leg to stand on before starting the eviction case. Conduct a due diligence of your property and the legal case.

Hard feelings will sometimes come with the rental and eviction territory. Do not expect to be able to discuss the case calmly with the offended tenant. Do not expect a cool head to prevail over your eviction action. If you evict your nephew, expect your sister or brother to be totally ticked off at you. Your friend may think you are a jerk for evicting her because she parties loudly every weekend, disturbing your other tenants. Your aunt may not come to your aid when your niece does not pay the rent.

When blood is evicting blood, much more blood could be shed before the battle is over. Few people want to be in the middle of a turf war. You may find yourself isolated and alone during the eviction process until the dust has settled. This is the reason why most landlords refuse to rent to a friend or family member. It is preferred to have only one relationship, than to confuse the personal relationship by adding a legal one.

How can you ease the pain of evicting a friend, relative, or even the relative of a friend? It could depend on how the person was moved in. Were you doing your friend ?a favor? by renting your apartment to him or her? Did your cousin have to complete a rental application like everyone else? Did you verify all references, employment information, credit check, former landlord information, etc.? Does the tenant have a lease?

Why is this important? Having everyone go through an application process regardless of their status with you establishes the ground rules from Day One. Without it, the tenant could feel that he or she was taken in as a friend, and then treated otherwise when things got tough. It helps to set up the lines of separation between the friendship and the tenancy.

So, what is the best way to evict a friend or relative? Here are some tips:

?First, do not take shortcuts during the legal process. In fact, do everything strictly by the book. A wounded friend or relative who knows your personal business becomes a worthy adversary in a legal case. He or she will use whatever information is available to fight you tooth and nail.

?The jury is still out as to whether or not you should serve the initial notice of lease termination personally, or use a constable. The friend or your sister will feel the sting of you starting legal action just as shocking no matter how the news is given.

?Exercise the same professional manner in dealing with the loved one as you would with a stranger. Try to keep your emotions out of the situation. Avoid discussing the case at length with your now adversarial tenant. The less said, the less information that can be used against you in court.

?Put any rent arrears payment plans in writing. Continue the eviction case, and present the payment plan to the judge. Have the judge enter the payment plan in the court decision. Then, if the plan is broken, it is broken with the court, not you. Your friend or cousin will be less likely to violate a court agreement.

?Some landlords hire an attorney to process their eviction cases specifically against a friend or relative. When your best friend or nephew calls you about the eviction notice, refer all comments and questions to the attorney. Resist the temptation to explain why you started the action. With an attorney, you are taken out of the middle position. Let the lawyer earn the fee by listening to the anger, frustration and feelings of betrayal by the friend or relative.

?If you need to take legal action against a friend or relative who is your tenant, do it. Do not be intimidated by their personal association with you. Your real estate is a business investment. If you remember this during the process, you will be able to separate the two relationships, that of friend or family member who is also your tenant.

No one wants to be evicted, especially by a person who is considered a pal and confidant. The bitter taste of humiliation, feeling of betrayal, and anger will remain long after the actual legal action. Before renting your vacant apartment out again, remember the experience. Decide whether or not the rent is worth the possible loss of friendship or family discord.

Commercial Real Estate Brokerage

Whether you are updating your current facility, entering a build-to-suit location or looking to build a property, commercial real estate brokerage associates or simply called brokers can help you manage the construction process. From property rehabilitation to inspection, from zoning restrictions to building codes, associates guide you through all necessary steps to ensure your project is completed efficiently and within budget.

Commercial real estate brokerage offices use sales associates who market office buildings, hotels and many other types of commercial real estate for brokers. Commercial real estate brokerage sellers usually specialize in a particular property type such as apartments, retail, office, and hospitality, shopping centers and industrial plants.

In commercial real estate brokerage, a person is required to have a license in order to receive remuneration for services rendered as a real estate broker. Unlicensed activity is illegal, but buyers and sellers acting as principals in the sale or purchase of real estate are not required to be licensed.

Commercial real estate brokerage is a risky business. Brokers are paid in straight commission ? cashing out only if they were able to close deals. Brokers negotiate leases for retail, healthcare, high-technology, and other industries that are seeking office and industrial spaces. They represent both landlords looking to market office and industrial space and tenants looking to relocate or expand. They help secure the rights to redevelop the space. They spend some of that time away from the office, touring clients? conditions and trying to understand their corporate culture and what kind of office or industrial space they need to operate. Brokers? pay usually depends on market conditions, not years of work experience, said Al Marco, a partner in Joseph Chris Associates, a national recruiting firm in Chicago that specializes in placing commercial real estate brokerage executives.

The risks of the commercial real estate brokerage are certainly offset by financial rewards. A leader in the commercial real estate brokerage industry, Coldwell Banker Commercial? was founded in 1906 after a devastating earthquake in San Francisco.

Some brokers of a commercial real estate brokerage focus on the sale, purchase, lease, and development of commercial-use land properties. Associates specializing in multi-family property transactions are well versed in the unique elements and trends that shape successful multi-family transactions.

Milos Pesic offers Brokerage advice. For more information, articles, tools, current news, and valuable resources on Brokerage and Brokerage related topics, visit his site at Online Brokerage

How to Screen Tenants

There is nothing more frustrating than having to evict a tenant, whatever the reason, and the reasons can be innumerable - failure to pay rent on time, abuse of the property, drug use, keeping bad company, etc. Yet this is not the most difficult aspect of property ownership. The most difficult aspect of property ownership, by far, is remodeling and the management of contractors. More on this later. When it comes to managing tenants, however, the biggest advantage that you have is the property that you bought. If it's a great property, your units will attract great tenants and they will always be full. If it's not a great property, then life gets more complicated. It's better to have your units empty than it is to rent to a bad tenant. We know the preceding sentence may be a little hard to digest for the first-time property owners, but it's absolutely the case that bad tenants will cause you more problems down the road than any rent is worth.

Here are some time-proven and foolproof ways to screen tenants:

Be observant! And observation starts from the moment that the prospective tenants walks up to the unit! Observe the vehicle that they drive, the clothes that they wear, whether they make eye contact, what type of questions do they ask, how observant are they, etc.?

Questions. People who intend to be great tenants will tend to ask very different questions from people who don't. The great tenants ask questions like the following:

What are the other tenants in the building like? Do they stay up late, do they smoke, are they loud?
What do the other tenants do for a living?
Where is the nearest park and coffee shop?
If I play my cello at night (which is what I do to relax), do you think I will disturb the other tenants?
Have there been any incidents of crime in this area?

Potentially bad tenants will ask questions like the following:

It's okay if my rent is occasionally late, right? (This will always be followed by some reason like they work in a job that is seasonal so their salaries are unpredictable)
You don't really need three personal references, do you?
You aren't serious about talking to my previous landlord, are you? I can tell you that I'm moving because that guy was a jerk.
When I leave, I'm getting all of my security deposit back, right?

Check all References. Great tenants will have great references and the great references will use descriptive terms, such as, Oh, I've known Frank for 20 years and he's an incredible person! He was the best man at my wedding, and he will be an ideal tenant! Listen carefully to the tone of their voice. If you hear descriptive phrases that are lukewarm or tepid, then you are probably dealing with a person who is a bad tenant. Avoid them. Avoid them. Avoid them. There are many resources for doing a credit reference check and a criminal check if you know where the tenant previously lived. One company that the author has used successfully is Rental Research, Inc. Oftentimes, the report is available on the exact same day. You need to remember that you are not allowed to share the tenant's credit report or credit score with them, although you are allowed to ask them about any discrepancies about which you have a concern (continued late payments, excessive debt, etc.).

Trust Your Instincts! This is, by far, the best advice that I've ever given or received. If, after you've done all of the above, there is something about the prospective tenant that doesn't feel right for whatever reason, don't rent to them. Your instincts are telling you something subconsciously that you need to respect.

What About Pets? Some property owners allow only small pets in their buildings, and we can completely understand why. Large pets wear considerably more on the investment property than small pets, not to mention that poorly behaved large pets cause more damage, not to mention that the pet can annoy other tenants. Our collective experience with pets is that the behavior of the pet tracks closely to the behavior of the tenant. Just like you check references for the tenant, you should check references for the pet. Some time-proven tips:

Call people who know the pet and who have watched the pet in the past, and ask them the same questions you would ask about the tenant.

Meet the pet in person (so to speak). Spend some meaningful time with pet and see if the pet behaves inappropriately while you are interacting with the pet. If the pet jumps up and knocks you to the ground, that is a bad sign. I know an emu named Bob who likes to lick my ear, but that's a socialization behavior of emus, and I don't encourage renting to anyone who has an emu. Speak to the pet and see if the pet responds to your voice.

Observe how the pet interacts with the owner and vice versa. Owners who treat their pets like children will have a higher probability of having well-behaved pets. There are always exceptions, but the odds are in your favor if the pet is treated like a child, but not a spoiled child.

Observe the living conditions of the pet. Personally, I worry about pets who spend most of their time alone or who live outside in the backyard by themselves, particularly if the pet is a dog. Dogs are social creatures -- they are pack animals by nature and they need companionship.

Observe the grooming of the pet. Well behaved pets are typically well-groomed, with clipped nails, brushed hair and no fleas or ticks.

Pay attention to the name of the pet. I know this one is silly, but it makes a difference. I would worry about a dog named Killer, Brutus or Caligula. On the other hand, I like any pet named Muffy or Munchkin.

Peter is an active real estate investor in the Puget Sound Area, specializing in the acquisition and finance of small multi-family properties between 2 - 30 units. Peter has been married to his lovely wife, Grace, for 12 years and they have two young girls, Sydney (age 7) and Ashley (age 2). Peter lives in Redmond, Washington. Find out more information Peter at http://www.peterku.com.

Unraveling Real Estate Jargon

Homeowners have a seemingly insatiable appetite for information about the housing markets. Are prices going up? How's the market? Is now a good time to sell? they ask. Research reports and newspaper articles provide useful answers, but the information is usually buried in economic jargon. What is a median price anyway? What does seasonally adjusted mean? Does anyone understand unsold inventory index?

To help you follow the numbers, here are some helpful definitions:

Median price. An oft-cited indicator of the strength and direction of a housing market, a median price is the midpoint of all the prices of homes sold in a given area during a specified period. Midpoint means half the homes sold for higher prices and half the homes sold for lower prices. The median isn't the same as the average, which would be calculated by totaling all the prices and dividing by the number of prices. The median price can be affected over time by the characteristics and sizes of homes sold as well as price trends. For example, if the market shifts from starter homes to luxury mansions, the median price will increase even if homes are not appreciating in value.

Seasonally adjusted. Housing markets are naturally more active in the spring and summer months because people prefer to move during the longer warmer days and between school years. That pattern means it's difficult to make meaningful comparisons between results for different months or quarters of the same year. To overcome this hazard, economists statistically tweak the reported number of homes sold during various periods to reflect seasonal variations. The tweaked numbers are denoted as seasonally adjusted.

Price discount. The price discount is the percentage difference between the seller's initial asking price and the actual purchase price of the same home. For example, if a home were priced at $200,000 and sold for $190,000, the discount would be 5 percent. Price discounts are usually reported as an average for a set of home sale transactions. A small percentage, on average, means the market favors sellers, while a large average discount signals a buyer's market. Unsold inventory index. This index, which indicates the pace of the market, is calculated by measuring how long it would take for all the homes currently on the market to be sold at the current rate of sales. A smaller index is a positive sign for sellers, while a higher number is good news for buyers.

Affordability index. An affordability index measures whether a typical family can qualify for a standard mortgage to purchase a typical home. A typical family is defined as one that earns the median income in a given area, and a typical home is defined as a median-priced single-family house in the same area. An index value of 100 means a median-income family has exactly the amount of income needed to purchase a median-priced home. A number higher than 100 means the family's income is more than adequate, while a number less than 100 means the typical family can't afford to buy the typical home.

Knowing these real estate terms will give you a better measure for evaluation the value of a home.

To learn more about home valuation and other real estate topics, visit my website at www.fordrealty.net

John Ford is the found Ford Realty Inc., a Boston are real estate agency. He's participated in hundreds of real estate deals in the Boston area. He maintains a real estate blog at www.fordrealty.org/blogs

Home Search Merges with Google Maps

Searching for a home online? MLS home search systems are now merging the features of real property listings with mapping features such as Google Maps.

First impressions are Wow! Why had someone not done this before? More and more services are being provided online that don't require any online registration or jump through hoops of any sort? all you have to do is click on one of many online MLS home search systems to begin your search.

Maps used to be buried several clicks away from the listings. Now, the listings are being plotted for you on Google maps first up front. You pick the area on the map you are interested in looking to buy a home and then drill down to find the house that meets your needs in those areas.

The way it works is really pretty easy ? locate an MLS Search site that features a mapping system such as Google maps for the area you are interested in purchasing property in. Different colored pins or flags indicate the city and another color pins or flags indicate the individual listing details. Hover your mouse over the pins to see how many listings are available in each town/city. Click on the pins to see the individual listings and you will be able to see the ?More Details?.

If the pins are too close together, simply change the view by clicking on ?Zoom Out? or ?Zoom In?. Click on the area of the map you are interested in looking to re-center the map.

You may find it useful to select the desired ?Search Criteria? adjacent to the map. The more information you can narrow the search down with the better. It?s best to start with a narrow search and then broaden your search to find more results.

As you select the ?Search Criteria? remember to click the ?Redraw Map? or Refresh button to automatically update the map to match your search. Clicking on the pins will instantly open a thumbnail summary of the listings. Click on the summary information for complete property details.

Although, many home search systems don?t require you to sign up, register or jump through hoops of any sort to use the MLS Home Search, alot of home search systems allow you to register for a free account so that you can keep track of your search, or get automated email alerts on new or updated listings that match your criteria.

Roman Alfaro and Randy Watson of Cowboy, REALTORS - Home and Ranch continually strive to give their clients increasingly better and much more useful tools when searching for real estate information such as the San Antonio MLS Homesearch. Visit http://www.satxproperty.com. Se habla espanol ? Agente de Bienes Raices en San Antonio.

Cheap Property For Sale ? Getting More Bang for Your Buck

All property investors want to do it - buy cheap property for sale and sell it at maximum profit quickly.

This article is all about the best locations to do this in and how to get the biggest capital gain with the lowest risk in the shortest period of time.

We all know the North American and European markets look vulnerable as economic growth slows and interest rates rise. It?s an economic fact that property prices fall under these conditions.

So what?s the solution?

Buy cheap property for sale overseas it?s cheap easy to do and the risk to reward is far better.

If you have never considered buying cheap property for sale overseas you should as you can make stunning gains with low risk and you don?t have to go far.

Central America is booming at present and Costa Rica just a 3 hour flight from the USA offers property at up to 70% less than in the US and Americans are buying in ever increasing numbers

Why?

Because their making huge gains consider this:

Investors who bought $30,000 of real estate just 15 years ago near the popular resort of Jaco, are worth as much as $800,000 today.

These gains are not unusual and as foreign investment pours in gains are getting bigger in many areas investors are turning 100% profits in a year.

Never buy cheaply just for the sake of it

Property is cheaper in Costa Rica but it is important not to buy the cheapest you can find. Keep in mind it?s cheap for a reason!

Investors often make the mistake of buying countries or locations where they think as prices are cheap they must go higher, but this is simply not the case.

What you need to do is, buy property in a booming country close to expanding popular resorts or changes in the infrastructure where you KNOW that prices are likely to increase quickly.

Risk and reward

This way you will have high capital growth potential and low risk. It?s important to keep the risk low, as you don?t want to buy a cheap property for sale and be stuck with it.

You want to be able to turn it over for a quick profit.

Buying in Costa Rica is easy and red tape is at a minimum..

The Government wants investment and therefore offers tax advantages, the same rights as residents and the security of buying in one of the safest investment markets in the world.

Future potential

The future for buying cheap property for sale in Costa Rica looks good as investment from overseas and America in particular drives prices upwards as more baby boomers buy or retire here.

Are you getting these sort of gains?

Their getting property at up to70% less than the US and a great standard of living in one of the most beautiful countries on earth.

If you want to be able to target triple digit gains annually with low risk and buy cheap properties for sale ( far cheaper than in the US ) and turn these around with bigger profits and lower risk then look at Costa Rica.

Costa Rica offers one of the best markets to buy cheap property for sale in the world and has fantastic risk to reward. Look at the facts and see for yourself.

FREE Essential Report

On how to investing in property and land for big capital gains and low risk, with all the facts you need to take advantage of this opportunity grab your report now at http://www.costaricalandlots.com

What are Serviced Apartments?

It seems that everybody?s talking about serviced apartments and how they are going to become the hotels of the future. But what exactly are they and what?s all the fuss about?

A serviced apartment is a property that has been fully furnished and is available for very short term let. Sometimes serviced apartments can be rented for as short a period of time as one week. Although most serviced apartments require guests to stay for at least a minimum of a week, some allow you to book for just one night.

Serviced apartments that allow one night stays are normally linked to big hotel chains. Hilton and Marriott have serviced apartments for instance.

Serviced apartments normally have a living room, fully fitted kitchen, bathrooms and bedrooms. The number of bedrooms varies by apartment and you get to choose how many you want in the one that you rent.

As well as being fully furnished and offering a lot of space to spread out, serviced apartments are also equipped with the latest communication devices. They tend to have direct dial telephones, fax machines, broadband connections and satellite television.

This means that you do not have to worry about shipping your furniture when you relocate. The idea behind this is to reduce the stress and hassle associated with moving as much as possible.

In addition to this some serviced apartments also offer services that you might expect to only find in a hotel. For instance, many of them have a 24 hour concierge service, in-house maintenance and even a daily maid service.

Serviced apartments are designed to make your life as easy as possible. As a result most will give you a welcome hamper when you arrive. This contains essentials like tea and coffee as well as bread butter and milk to help you get on your feet.

Serviced apartments are becoming popular amongst executives relocating abroad because they offer a home from home. Guests do not have to worry about shipping furniture, utensils, telephones and televisions because the apartments are fully equipped with everything that you might need during your stay.

Select Apartments specialises in finding serviced apartmentsthroughout the world for business travelers.

Delaware Mortgage What to Expect When Buying a Home in Delaware

Maybe you are buying your first home in Delaware, or perhaps you?re relocating to Delaware from another state. Either way, it?s important that you educate yourself on Delaware home loans before shopping for a home and mortgage. This article explains what you will need to know before buying a home in Delaware:

The median price of a home in Delaware is $130,400. Recently, homes in Delaware have been appreciating at rates above the national average. However, Delaware homes are not as unaffordable as those in its neighboring states. The job growth rate in Delaware ranks them eighth highest in the nation. Average interest rates in Delaware are higher than the national average.

In Delaware, the Office of the State Bank Commissioner governs over mortgage broker licenses and regulates hundreds of non-bank businesses that provide financial services in the state. Delaware does not currently have any anti-predatory lending laws. Mortgage loan brokers in Delaware are licensed to arrange residential mortgage loans for consumers. Businesses engaged in consumer lending, such as mortgage lenders or consumer finance companies, are considered Licensed Lenders.

Delaware?s Fair Housing Act prohibits mortgage lending discrimination against individuals based on their race, color, religion, gender, familial status, or national origin.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Delaware Mortgage Rates and Loans .

Retiring Abroad Your Lifestyle Choice And The Pitfalls

Retiring Overseas

There is no doubt that living overseas away from the busy lifestyles of the Northern European countries is a good thing. It is beneficial for your health. It allows you to live a more relaxed lifestyle and it provides locally produced food and organic wine that may allow you to live longer. Add to this a beneficial climate change and you have a remedy for an extended and healthier life. However it is not all sunshine and flowers. One of the common misconceptions of retiring abroad is that the lifestyle is cheaper. Well it can be, it appears to be when you move your UK income to a Mediterranean haven and cut your shopping bills in half and find your local taxes are very much cheaper. Fuel for the car is 30% less and virtually any local service is charged in equivalent euros instead of pounds, an immediate 35% saving.

So you say why can?t I save money then by living like that. Well you can but many don?t! Once you settle in and find your feet in the local community it can all start to happen. Whilst in the UK for example good eating was quite expensive for those on a limited budget, now it?s cheap! A menu of the day favoured by retiring folk will cost no more than 10 Euros all in, anywhere in the Mediterranean.

A coffee or two is a very pleasant way of meeting new friends in the local Bar. A drink at lunchtime? Well maybe not when you were working back home but here? It?s easy. You are out shopping and you meet the folks you met yesterday for the first time, shall we have a quick one? It?s hard to refuse when a beer costs a Euro and a good bottle of wine is 5 Euros in a Bar!

So what happens is this. You go out to eat more often than you would at home and you spend the same per week on it as you did when in England. You consume more alcohol than usual but it?s cheap but the budget remains the same. The shopping is cheaper, but because it is, then there is more elasticity for the things you enjoy, smoked salmon, foie gras, tonic and gin, giant prawns, great single estate red wines and cheese to dream about.

The inevitable soon happens, the waistband expands and the blood pressure goes up. Wait a minute I thought I was here for a cheaper and healthier life? Well it?s called living the life. As usual there is a balance to be struck here and to the reader it?s fairly obvious what that has to be. To the retired person already there and stuck in the new routine which of course is highly enjoyable, it can be hard to change.

So take my advice because I have been there, in fact I am still there and thoroughly enjoying it. When I return to the UK on one of those too frequent visits, I am constantly reminded of why I enjoy this Mediterranean lifestyle so much. A beer out with my son in London leaves little change out of 10 pounds. A dinner out for two is always more than fifty pounds. I travel up the A14 leaving a suitable and safe gap from the car in front when as always a local native cuts me up from the inside lane with an illegal manoeuvre. You can see him or her chaffing at the bit in their rush to get home as soon as possible. Life in the fast lane where there is no time to pause for breath. When I turn off for my destination after another 8 miles of similar driving antics I arrive at my destination and park my car in the car park just behind the same young man who was the first to cut me up. He has just parked himself!

Everyone is in a hurry and everyone wants everything delivered today. Too many people on the roads, too many people rushing about in too much of a hurry. Do they really ever get where they really want to be? They say they suffer from stress but they really do not know what stress is really about.

The Manyana lifestyle whether in the Caribbean or the Med has its detractors but once you become used to it there is more time to live and more time to do. The more important deal in life is having a conversation with someone without looking at your watch. Enjoying an inexpensive lunch without the need to rush off somewhere.

Driving home in a leisurely way at your own speed on roads which are never full. Not rushing home to watch your favourite soap. In fact hardly watching TV at all. The lorry driver on the Northern European road who insists on pulling out on a dual carriageway to overtake a colleague who is travelling at one mile an hour less and takes an age to do so, is not doing so in a relaxed manner. He is stressed out and believes he will cut his journey time by this continuous action. Not so, it has been proven that two lorries leaving one destination at the same time, for an average journey of 4-5 hours, will only arrive minutes apart when one driver drives in a relaxed manner compared to the frenetic style of overtaking and rushing to move on displayed by his colleague. What is that all about? If we all drove in a more relaxed way there would be less accidents and less heart attacks.

OK enough of the comparisons, they are all there for all to see but exactly how do you transpose to this new way of life successfully? First of all set a weekly budget. Not for lunching out but just for living without paying your bills. Simply your shopping and supermarket bill and enjoying your new found lifestyle. You set the budget and you stick to it and then you find the best ways to spend that money according to your new priorities. Your bills will take care of themselves as they are much cheaper than the ones you left behind! Also set a budget for the fuel you wish to buy and go to the fuel stop every Monday and put that amount in and that is that.

Next find a way to exercise. This might be swimming or taking the dog for a walk or whatever you wish but at least try and do this every day and if you miss the odd day due to bad weather or receiving visitors so be it.

Try not to succumb to the afternoon nap scenario on a regular basis. Occasionally once a week if life catches you up there is nothing wrong with an afternoon snooze but if you deliberately seek it out on a regular basis you will find you will be soon sleeping your life away. Change your diet and change when you eat. Eat well at lunchtime, this might be your main meal of the day and in the evening you can eat fish or nuts or fruit and cheese and of course tomatoes and salads. Try and eat salads that you actually enjoy there are so many additions such as fish, cheese and fruit all locally produced. Buy your veg at the local markets and stand and observe the locals when in the butcher?s shop. you will be amazed how you can vary and change your diet for the benefit of greater overall health. Eat your sweet stuff in the middle of the day and not in the evening. Start taking yogurt for Breakfast on a regular basis with fruit or even an occasional cooked breakfast. Drink lots of unrefridgerated still water slowly. First thing in the morning at least 2 pints and another pint before bedtime! All of a sudden you don?t suffer from that heartburn problem you always had.

Here there is time for everything and if not today then tomorrow is fine, nothing will change in the meantime, the World continues at its own pace, your blood pressure is healthy, you are eating well drinking moderately and exercising. You feel relaxed and you take excellent decisions and suddenly, you have time for everything and you can do all this on a lesser budget. The problem is you are going to live longer. Will the money run out? Well there has to be something to worry about!

Hugo Raymond

Founder: myPropertyPal.com

www.mypropertypal.com

Spending My Weekend at the Sea Side Researching Property

This last weekend I spend at the seaside. What I enjoy doing in my free time is walking around looking at property for sale. I take mental notes on when each property comes on the market. Also I note the ones that have been sitting around for a long time.

One thing that always comes to mind is why a property is for sale and also why is hasn?t sold yet. Is the property in a good location? Has it been presented properly? Is it priced to sell? Etc. As a real estate investor these are the series of questions I ask myself when researching an area. It will be the same for all areas. People are people and properties are properties. What I have developed is a series of questions that I ask myself to find out what is the properties potential... It is a mini check list. I find out a lot about property and the area in general by talking to the local agents. They are a gold mine of information. If you treat them right and show them respect they will freely divulge loads of nuggets regarding the property, the area and the owners. This line of questions will lead to the best real estate investment properties in the area.

When you start with this research, you are starting to use your brain. The more you ask, the more it will find ways to the answers. Our brain is the most powerful computer on earth, so the more you exercise it, the more efficient it will become in providing you with the necessary answers. I have found this to be a valuable tool in my real estate investing. I now do this unconsciously and most times you do it automatically without being aware I am doing it. When you are genuinely interested in a certain topic, you love spending time finding out as much as you can about that interest. This is when you will learn the fastest. It is not difficult to concentrate and spend time doing this.

What better way to spend time at a sea side location doing research on your real estate investing interests. I have an agent in a sea side town I catch up with every time I am down there. Last time I was talking to Russell, he told me about the new health care precinct zoning for the town. That was a very valuable piece of information I can now use for my real estate investing for that area.

http://www.therealestateinvester.com I am an experienced and passionate investor. I buy typical mum and dad type houses that give me cash flow and capital growth. My website offers helpful tips and ideas for any type of investor to help you with your wealth creation. Using my site will help to prevent you falling into the traps the inexperienced investors do.

DIY Steel Buildings

DIY or Do It Yourself steel buildings are self built by owners. DIY steel buildings offer a unique opportunity to construct a building solely according to personal preferences. Do It Yourself is the popular trend in America, the personal identity of a person being reflected in his belongings. DIY thoughts can be realized in construction using steel materials. Steel is a flexible alloy that can be engineered to any type of structure. DIY steel buildings are very much functional since the design is chosen by the user. DIY steel buildings include temporary shelters, garage, storage area, commercial buildings and retail buildings.

DIY steel buildings can be custom designed. The builder can either personalize available patterns or design a new one. Plenty of patterns are available from web resources and manufacturer catalogs, to be modified according to individual needs. The customer has the privilege to add suggestions regarding size, shape, height, area and structure patterns. The color of the panels can be chosen from the available pool. Accessories also can be included according to the client's needs. The custom design pre-engineered steel frame system is available in readymade DIY kits. The DIY kits also include all the necessary subsystems such as bolts and screws for the assembly of the steel building.

DIY steel buildings incorporate arch models and straight roof models. Rigid frame work models are also available. Arch models are easy to install and ergonomic. They integrate walls and roof to a single arch structure, and offer maximum space to occupy. Straight roof models give a traditional look to the structure. DIY steel structures require a strong foundation to be mounted on. According to the requirement of soil, the builder can construct base rail system or concrete slab for the foundation. The steel frame is then erected. The roof and wall panels are fastened with anchor bolts and screws.

DIY steel buildings can satisfy all the requirements of the customer. The buildings are also durable and weather resistant. DIY buildings are economical since labor cost can be avoided. Sophisticated tools are also unnecessary. DIY steel buildings can be assembled easily with simple tools within a short span of time. DIY steel kit manufacturers offer warranty for about 30 years.

Steel Buildings provides detailed information on Steel Buildings, Commercial Steel Buildings, Pre-Fabricated Steel Buildings, Steel Storage Buildings and more. Steel Buildings is affiliated with Metal Building Kits.

Real Estate Forms Your "What's Hot" List

If you are involved in real estate, you know that no matter how simple the deal is, you will be tasked to prepare several documents, all of which are integral to its successful completion. If you miss out on one or a couple of the necessary supporting papers, your real estate transaction could be delayed, or worse, be rendered void. Even if it is time consuming and tedious, you really have to spend time poring over these papers, making sure that everything is in order and nothing is missing.

However, securing all the right papers is not that easy. To complete one real estate transaction, several forms are required and, if you are not that familiar with the business, you will, most likely get mixed up. You can ask professional real estate agents to help you complete all the necessary requirements, but they may ask that they be paid a professional fee for their services. Aside from the additional financial cost this will entail, you will have to adjust according to their schedule. If you are under time constraints, you also cannot afford to waste precious moments setting up meetings and schedules. If you are burdened with these conditions, it may be best if you did things on your own.

If you decide to attend to your real estate related business on your own, you don?t have to be overly afraid of missing out on the documents you need. There are websites that have been established with the aim of assisting consumers who opt to handle their real estate transactions themselves. These sites not only give valuable tips and information on how to properly market and sell their properties, they are also sources of all the necessary forms and documents needed in all kinds of real estate related arrangements.

To further aid the ordinary consumer, some of these real estate related websites have gone the extra mile by first categorizing all the documents according to what transaction these are for (selling, leasing, etc), then these forms are then further listed based on importance or popularity. Through this process, even the greenest of consumers will not find it difficult to select the forms they need.

If the form you need is not amongst the top ten or fifteen documents on the ?what?s hot? list, there are specific tabs which one can click and the full listing of all the pertinent real estate documents will then be shown.

If you are still wary about conducting your real estate business on your own, prior to any marketing activity, make initial consultations with a real estate officer or a lawyer. During this meeting, ask them what the standard procedures are and take note of these. Ask as much questions as you would like, and clarify what forms you will need and what these are for. Once you have all the details you need, you can now proceed with your business with caution. Just before the end of your real estate business, you can opt to verify the accuracy of all the information you have written on these forms. Bring drafts to the real estate agent or your lawyer and have them checked. When he gives you the go signal, you can then finalize all the details.

The availability of legal real estate forms on the internet allows you to minimize your contact with professionals, who normally charge clients by the hour.

Gloria Smith, a former licensed Real Estate Agent owns, runs and created LegalHomeForms.com, a website that was designed to offer consumers instant access to the most sought after types of real estate forms. The cost having instant access to over 60 downloadable real estate forms is roughly the same as what you would normally pay a professional to create one document for you. For a full listing of real estate forms, visit: http://www.legalhomeforms.com/list.htm.

Maryland Mortgage What to Expect When Buying a Home in Maryland

Maybe you?re buying your first home in Maryland, or perhaps you?re relocating to Maryland from another state. Either way, it?s important that you educate yourself on Maryland home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Maryland:

The median price of a home in Maryland is $146,000. Recently, homes in Maryland have been appreciating at record highs for the state. As a result, income levels in many parts of Maryland are too low to purchase a median-priced home with a conventional loan. In fact, homeowners in many Maryland cities pay more than the recommended 30% of their incomes toward housing.

The price of homes in Maryland varies widely between zip codes. For example, in Annapolis, Maryland, the median price of a home in the summer of 2005 was $315,000; however, in Fort Washington, Maryland, the median price of a home was $375,000, and in Silver Spring, Maryland, it was $450,000. Average interest rates in Maryland are above the national average, and job growth rates are ninth highest in the nation.

In Maryland, the borrower employs the settlement attorney or title agent. The lender is not permitted to do so. Maryland has strict anti-predatory lending laws. Among these include the prohibition of prepayment penalties and reduced-rate options on adjustable rate mortgages and fixed-period adjustable rate mortgages.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Maryland Mortgage Rates and Loans .

Making the Fresh Start Presentation

So you are out and running your route and have found a homeowner home who wants to listen to a Fresh Start Presentation (FSP). Remember the Fresh Start Presentation is the Homeowner Options slide show that you have. It goes through the advantages and disadvantages of the seven (7) options available to the financially distressed homeowner. They are as follows:
1)Sell on the Open Market
2)Refinance the home
3)Restructure the mortgage
4)File bankruptcy
5)Borrow from friends and family
6)Let it go to foreclosure
7)Sell to an investor

Whether you have scheduled an appointment or have just knocked the door the opportunity to make the presentation will lead to money for you. So what is the best way to make the presentation? Do you start with the overview and then go through each option? Do you ask some preliminary questions and get to the homeowners present position or do you just get to the price we will pay for the home and leave it at that?

The answer depends upon the homeowner and your preparation for your visit with the homeowner. Remember ?Information is power and the key to a successful negotiation and purchase of your next home or investment property?. So if you have failed to prepare for your meeting with the homeowner your chances of success are diminished. We try to gather information for you and put it in the notes. Some information can be gathered by going over the pricing of the home when you have a scheduled appointment. The rest of the information will come from the homeowners? needs and wants and honest eyes.

What follows are typical situations you will run into in the field and what assumptions you should make if you run into these types of situations. They are 1) Research indicates that the home is on the market. 2) Home is vacant; 3) Homeowner just came out of Bankruptcy.

Home on the Market

What assumptions can we make if the home is placed on the market?
1) We know that they are willing to leave the home and move on with their lives.

2) The Homeowners have cut the emotional attachment to the home.
3) They have either eliminated or exhausted the following options: refinance, restructure and borrowing from friends and relatives.
From this we can make the following conclusion: The homeowner is left with the bankruptcy option and selling on the open market or to us. Here is a note from a locator regarding a house that is on the market.

Visited 8/12/06; 1PM. Met HO in driveway. HO's are divorced and selling the property. Home vacant. Property is listed with Briarwood Realty. Presented the Fresh Start Program to HO's. Interior of the home is broom swept condition already. Good condition. Husband was ready to give release, wife not willing to give release today. Wife indicated that she would like to take a few days and to talk with the bank on Monday. We agreed to contact each other on Tuesday 8/15/06. I left contact info with them and received their contact info as well. Will take complete set of photos when I get the release. Both HO's confirm that they have equity in the property.

Now what part of the FSP would you pitch to get the release? How do you begin the process? If I knew the number they had placed on the house, I would talk about market time, home inspections and the possibility of an unsavory investor tying them up until it is too late and purchasing at the auction.

If I did not know the market number I would ask for the price and how long it has been sitting on the market.

This type of presentation should begin with a back-up plan or safety net plan. It should inform the homeowners that we could possibly purchase the property in a quick fashion and net them some money for their fresh start. We would do this by making a deal with the listing broker to continue to list the property after we purchased it. Saving the homeowners the cost of the broker. We could also inform them that they would not have the carrying costs, insurance, taxes, and foreclosure costs that are currently stacking up on the property. All of this may add up to a less stressful conveyance than waiting out a slow market. If you are fairly new at locating just use the making the offer to the homeowner chart to walk you through the offer: This chart is located on the resource page of the website.

When a home is on the market it is fairly difficult to get a homeowner to agree to sell the property to an investor. Reasons are that some mortgage broker has told them that they can sell their home for a number we will not pay. Only time and an auction date will usually make this homeowner come around. A smart locator will make the pitch for the backup plan and wait until it is close to the auction to return for a final opportunity to purchase the property. In the meantime just call the homeowner every week or ten days to check in on their situation. This will allow you to have a continuing dialogue and build some type of relationship with the homeowner.

HOME IS VACANT

What assumptions can we make if the home is vacant?

1) We know that they are willing to leave the home and move on with their lives (they already have).
2) The Homeowners have cut the emotional attachment to the home.
3) That the house is costing the homeowner carrying costs each and every day. We can stop the bleeding by purchasing the home.
4) Homeowner should be happy to unload the property.

Here is a note of a recent vacant home visit:

Visited 8/12/06; 3:15PM. HO not home. Left into letter in the door with personal note. Spoke with the neighbor to get an update on this property. Mailbox is full. Shrubs and vines have overgrown the yard and cover the primary entrance to the house. Lawn has not been mowed in months. Neighbor says that the owner is a great person. He seems to think that the owner has another residence in Marshfield. This property had been up for sale. The HO has been trying to sell it for almost 2 years. He believes that the last listing was $249K. He also has been in the house and said that a lot of work has been done on the inside. Driveway is not paved. Otherwise, nice neighborhood. Dead end street with playground for children. This property is on the quiet end of the street directly across from the playground, corner lot. Looks like a good investment. We will need to track this person down.

Once the homeowner is found the pitch would be straight to the sale of the property to our company. There is little need to go through the rest of the options with this homeowner. It would simply be straight to the sale of the property. Again, this particular note tells us that he had it on the market for 249,000 dollars for two years or so. So we could easily tell him that the price of the property is too high and substitute it for the price that we would sell the property at. (see your manager or the index for the price). Next, I would use the Homeowner chart again to go through the price we could offer on the house and why. Once you as a locator get familiar with the costs associated with a home you can forego using the chart.

This vacant property purchase should be fairly easy once we have tracked down the homeowner. There is no emotional attachment, in fact the homeowner should be relieved to get rid of the property. I would stay on your manager to find these owners and provide you with the means to make a deal.

JUST OUT OF BANKRUPTCY OR IN BANKRUPTCY BUT IS LIQUIDATING THE PROPERTY TO PAY FOR THE PLAN.

What assumptions can we make if the home just came out of bankruptcy?

1) We know that they are finished with most of the options. They can file bankruptcy again but it will not help them.
2) The Homeowners can try to refinance but the cost of the mortgage will be astronomical.
3) That the homeowner has tried everything to save the home and failed.

Here the homeowners have been through the entire process. They have borrowed money from friends and relative, tried to restructure, and refinance the home as well as save it in bankruptcy plan by forcing a payment plan on the bank. Nothing has worked. You need to allow the homeowner a way out with dignity if possible. That may come from you just purchasing the property and giving them enough to begin renting.

They only have two real options left: 1) sell on the open market or sell to us. Your job is to explain to them the problem of selling on the open market with only weeks to go to the auction is not a viable option. The real option is trying to get some equity out by selling to us.

This type of purchase has to be performed with surgical precision. You have homeowners who are emotionally drained from the process of trying to save the home. They trust nobody including the lawyer who took them into bankruptcy and feel like everyone has screwed them. If you are empathetic now would be the time to show it.

Here is a note on a property where this happened.
7/31 note: Relief from stay of auction granted.
11/05 note: In chapter 13 now. He isn't interested in hearing our option as the thought of selling his home makes him cringe. He did agree with me that selling is better than losing to auction. He has the auction stayed for some time now. Let?s keep an eye on his bankruptcy. This is a good home.

From the note the locator has been watching this house since early November 2005. Long time to check in on the property, but it is getting ready to payoff. The new note indicates that the bank has now received the right to foreclose upon the property. It is usually the step before the bankruptcy being dismissed.

The locator will now need to go out to the home and listen to the story of the bankruptcy and convince this homeowner that it is best to sell the home instead of losing it to the bank. This homeowner really does not want to sell the house in fact he would rather stay in the house. With that in mind it is going to be a tough sell.

Again, this pitch should be a straight up number crunching pitch going through the items on the chart. Remember you are going to have to deal with the emotional tie to this house. From the note it is quite evident that this particular homeowner has this tie. When I make the pitch I usually talk about the house as sticks and bricks which is not really a home. The home is his family and the memories which they get to bring with them to the new house they will be occupying. If you can get through the emotional you will purchase the house.

good hunting
http://frontgateconsulting.com/

http://frontgateconsulting.com/