Is It Time To Move On: Evaluating Your Tempe Home

Tempe is a community that presents great options for home owners. Because it's a rapidly growing part of the Phoenix metropolitan area there is an interesting mix of homes,older homes and new housing developments.

As much as we'd like to believe we can find the perfect home, there really isn't such a thing. Every home has some flaws, and some have great features. The choice for many buyers is whether to fix the flaws of a home, find another older home that has fewer problems, or move into a new home that has the features they like.

The great thing about Tempe is a community with its own unique culture. Of course that overall feeling is an important part of whether you want to stay in a home. The neighborhood and community are some of the driving factors for keeping home owners in their home and contemplating making renovations or remodel plans.

So what should you consider when it comes time to make the decision about moving to a new home in Tempe or remodeling your existing home? There are several key factors.

Can you afford to remodel? Depending on what type of modifications you are planning, it can be quite expensive. Whether it's remodeling kitchens or baths, you can plan to easily spend tens of thousands of dollars, if not more. If you are planning major remodeling such as adding a family room, building a master bedroom suite, or expanding outwards, you can easily expect to spend close to a hundred thousand dollars. You also have to have a reserve budget for when the project goes over the estimated cost, as it certainly will.

What do love about your current home? Do you love the neighborhood, the schools, or the convenience of where you live? If you do, and you are certain you can't find something you love just as much in another location, then remodeling may make sense for you.

Have you considered what you'll lose or gain by selling? Sometimes you know that if you move to another neighborhood your property will appreciate at a higher level than your previous home. It's a no brainer, your house is an important part of your investment portfolio, then it makes sense to move. Of course, there are costs associated with selling your home and buying another: you can expect to pay 7% of the sales price of your home in fees and closing costs. You also have to consider that you will be stepping back in terms of your mortgage. You will be adding more time to your mortgage repayment, so you'll be paying less principle and more interest.

Tempe has lots of opportunities to find a great home, one that can work for you now and in the future.

Reg Gustin is a senior loan officer with Sun American Mortgage and specializes in helping families and their financial lending needs.

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Top 10 Critical Mistakes Homebuyers Make and How to Avoid Them (Part One)

1.Using an out-of-town lender.

Getting a mortgage in a timely and hassle-free manner is the ?key that opens the door? to your new home.

Lenders who don?t live in the area you are buying in will not have the contacts needed to process your loan in an efficient and timely manner. Are you aware that if your lender fails to get you your loan on time, that your earnest money deposit may be at risk of being forfeited?

Your best bet is to ask your real estate agent whom they have used before and who they trust.

If it is important to you to use a lender from out-of-state (family member, friend etc.), your best bet is to have your lender refer your business to a local lender. This will help insure that your out-of-state lender receives a referral fee, they don?t violate state mortgage laws, and most importantly you are able to close on the home you want to buy.

Mortgage story: The very first transaction I was involved in after I got my real estate license was a nightmare due to a negligent lender. I was representing a buyer from Las Vegas (I live in St. George, Utah) that insisted on using a Las Vegas lender. Unfortunately the lender would rarely return calls or answer his phone. He failed to close on time. We extended the closing date time and again, and time and again the out-of-state lender failed to have the loan ready. The buyers were frantic and the sellers were angry. Finally eight weeks after we were supposed to close my buyers finally dropped the lousy lender and went with a local lender that I recommended. To my buyer?s amazement, by using the local lender, we closed the transaction 10 days later.

2.Not using a loan approval letter when making an offer on a property.

You?ve found ?The Home? and want to make an offer to buy it. Now anybody can make a full price offer and get it accepted.

What if ?The Home? is priced at $275,000 but you offer $250,000 and say that you will pay for the home by getting a new loan?

The sellers, when presented with your $250,000 offer, know nothing about you except that you seem to think their home is worth less than they feel its worth. At that point they will probably do one of two things. They might reject your offer outright. Or they might counter your offer at close to their asking price. As far as they?re concerned they never considered your original offer to be a ?real? offer.

Do you think that they would have taken your $250,000 offer more seriously if you had said you could pay cash? Of course they would have, after all money talks.

What if you had already received full loan approval from a lender. Not just pre-qualified, or pre-approved (Being pre-approved is kinda like being pre-pregnant), but fully approved for a home loan with a letter from the underwriter to prove it. A letter that is as good as ?cash in the bank?. You?ve become a ?Power Buyer?! You never know, maybe the seller would accept your offer, rather than letting a good buyer get away.

Wow, if your offer was accepted, you just saved $25,000 on the purchase of your home! And all you had to do was meet with the lender before you went house hunting.

3.Buying too much house for your income.

I used to do ?Broker Price Opinions, or BPO? for banks. This is where a bank would contact me to find out the value of a home that they had given a loan on. Often times this ?BPO? was because the homeowner was losing or had lost their home because they could no longer afford the home. What a terribly sad event for that family.

Things happen in life that you might never expect. Don?t unknowingly ?open the door? to future foreclosure and bankruptcy by getting a mortgage that you can ?grow into?. Life rarely works out the way you expect.

One of the best moves I?ve ever made was purchasing my current home. When I bought this home I qualified for a home twice as expensive as the one I bought. Payments on my home rarely cause me stress or concern.

4.Thinking ?short-term?.

Want to really scare me? Tell me you want to buy a home today and that you will want sell it in two, three or four years. Yikes! Talk about wanting to lose money.

Real Estate home values generally rise very slowly in a slow or soft real estate market. In St. George, where I live, our average time between hot markets (when home values rise quickly, usually doubling) is ten years. If you bought $250,000 home in a slow market, in three years it might be worth $265,000. Your cost to sell with commission and other costs would be $18,200. You would lose $8,200 for your short term thinking.

If you have to move within three years of buying a home, it would be better to use the home as a rental for a few years, and sell it when the market will allow you to make a profit. Better yet rent it out until the top of the next hot market, then sell it and potentially make $250,000 profit.

5.Using 1031 exchange money to buy personal property.

Do you really want to risk having the IRS charge you with fraud? Enough said.

This article is continued in Part 2?

About Me:
I have lived in beautiful St. George, Utah since 1998. I have been a real estate agent here (Washington County, Utah) since 1999. I have survived terrible housing markets and thrived in amazing markets (38% home appreciation in St. George in 2005). For more interesting articles, or to sign up for receiving my weekly St. George foreclosures email please visit my website: DonGlasgow.net. I also provide homebuyers with instant access to the Washington County MLS. I have gotten tons of compliments on my website, so make sure and check it out!

Real Estate and Your Retirement

Many people are looking for ways to increase their retirement income. For most of these individuals, their homes are the greatest asset. A large section of the aging population has failed to plan effectively in order to have sufficient savings at retirement. They now are looking to their real estate to supplement their retirement income.

Real estate values are very unpredictable, especially now with the decrease in the real estate bubble. Prices are falling in some cities and flattening in others. It will take some planning to get the most from selling your real estate to supplement your retirement.

Be Realistic. To plan effectively, you must be realistic about the price you may get for your home. Real estate is an up and down market, so you should assume a traditional real estate market for valuating your home, with gains in value equal to the inflation rate. At retirement, you will have the same purchasing power you currently have. If gains in real estate values are better than the inflation rate, then you will have more. Just don?t count on it.

Get the Most from Your Real Estate. People used to work hard to pay off their mortgages for homes they planned to raise their children in and retire. Since 1989, the number of people 65 and older with mortgage debt has nearly tripled, adjusting for inflation. Making payments on real estate in retirement years will deplete your savings and retirement income faster than any other expenditure.

There are three reasons to pay off your real estate mortgage ? (1) decrease expenditures in your retirement years, (2) use the mortgage interest rate that you will save to increase your retirement savings, and (3) build more equity, in case you need it as income on which to live later. Paying off your mortgage is a good thing to do, regardless of what the real estate market is doing.

Downsize Your Home. If you are living in a home that is larger than what you need, do not hold on to it for sentimental reasons. Selling the larger home for a smaller one can: (1) give you a smaller mortgage payment than you currently have, or (2) purchase a smaller home outright with no mortgage. It also means less physical upkeep by you, as well as less maintenance and repair costs in the future during retirement. Please keep in mind that there will be selling, moving and new home renovation costs that must be deducted from the sale proceeds.

Sell the Extra Real Estate. If you have a second home or vacation real estate that will not be your retirement residence, you may wish to sell this extra real estate now, putting the sale proceeds into your retirement savings. You can put the mortgage and annual upkeep payments for this property into your retirement savings, too.

Reverse Mortgages. Though these products have been around for some time, we are hearing a lot about them lately. Such mortgages give you 50 percent or more of your home?s value with no mortgage payments, which are collected by the lender at your death or if you sell the real estate.

Beware! Reverse mortgages should be used only as a last-ditch effort at survival. The interest and fees added to your mortgage debt can be very costly. If you must consider a reverse mortgage, here are a few smart tips:

?There are only a few reverse mortgage products now on the market, but others are coming soon. So, wait two or three years to garner more options and possibly better products.

?You must be 62 to qualify for a reverse mortgage loan, but wait as long as possible to take such a loan. The younger you are, the smaller the loan and higher the cost over time.

?Check out all of the products on the market and get independent financial counseling on the best one for you. They may look the same upfront, but the number of years and the loan value differ greatly between products, as well as the costs over time.

?Do not buy into the hype! Mortgage brokers receive a large commission on these products. If you feel you are being pushed in this direction, check out other lenders.

?Plan ahead. If you move and sell your real estate, the lender receives all that is due on the reverse mortgage from the sale proceeds. This could actually leave you in a worse financial state.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Biophilic Design Shy Relation of Green Building

Green building is more than just a trend. An often overlooked part of Green building is what is called Biophilic design. The goal of this sub-genre is to bring the outdoors into interior living spaces, either residential or commercial. The introduction and interaction with natural elements for aesthetic and health purposes is beginning to receive wider acceptance as indoor air pollution becomes a growing concern for urban dwellers and suburban ones who live in air-tight energy efficient homes.

Biophilic design injects real or simulated natural components into living and working spaces to promote emotional and physical wellness. Morning sun exposure, water features, natural vistas through window-walls, sky-ceilings, and greenhouse rooms where plants dominate and restore air quality while providing an indoor forest refuge are some common applications of this recent design extension. Biophilic design is based more in a emotional or Zen-like perspective than save-natural-resources Green building. Understanding that nature and natural settings allow humans to relax and is part of our DNA, professors at major universities study ecology and it's effect on our home environments as well as dispositions.

Here are some tips to get a start on Biophilic design in your home.

-Find a room that faces good morning sun and install floor-to-ceiling windows to receive a daily dose of high-powered natural light. Studies show that hospital patients who receive morning sunshine need almost a quarter less pain medication that those with north facing windows.

-Install a sky ceiling in a family or living room. These new ceiling systems mimic full-spectrum light emitted from mid-day skies.

-Place a waterfall or pond with fountain in side a favorite room. Flowing or spraying water adds a relaxing sound to your environment and helps screen out exterior noise pollution.

-Build a green house room with many indoor and outdoor plants, more the better. Put a comfortable chair to use for reading or relaxing in your home garden.

-Use window-walls to allow outdoor vistas in. I have seen homes that installed large glass areas in a well-used room. The increase in natural light and the ability to see from the ground to the sky is welcomed especially in the dark days of winter.

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

My Friend's Big Surprise How He Can Buy Real Estate Property

My friend had a big revelation today, he can buy real estate investment property! I visited a friend today. He works in the info media industry, making and editing commercials for local councils and businesses. Wing is his name. He is very smart and switched on in his business. I sat there amazed and astounded at what Wing knows about his job and also computers in general. He was pulling up screens with ads and also video clips that he had just created. I was sitting there thinking ?Boy where did he learn all of this? I was in awe. I asked Wing where he lived. he replied, he lived in Box Hill, which is a very exclusive suburb. I asked if it was far from work, but Wing said it was only fifteen minutes drive. How good is that I thought! We started discussing a recent seminar we had both attended. I asked Wing if he had done anything or acted on any of the strategies from that seminar. He said he was waiting till his work slowed down a little so he could concentrate on one thing at once. My immediate reply was, that will never happen. Wing went on about how he had to finish six projects he was working on at the present time, and how he would have to work through the night to get one done that had been delayed. He had promised that company that he would get it done on time. This meant he would be an extremely busy for that entire period.

I asked Wing what was his fee for that intense amount of effort he would have to produce to achieve that result, all done by himself to I may ad. He said he was making around $120,000 a year working for himself. This included working seventy hours straight when needed. I was stunned he could produce a quality result working those long hours. He assured me he loved working under these conditions and it happened quite regularily. I thought what sort of life is that? Working through the night to get a project completed.

Wing did mention that he had paid over 80% of his mortgage on his own home. My radar went up immediately because he had mentioned that he was interested in buying real investment property to increase his wealth. What really rocked me here was I thought Wing knew everything regarding wealth creation and real estate investment property principles. What I learnt was he knew nothing about property investing. The worst part was he had all that equity in his own property to reinvest in other real estate investment properties. I explained to him how he could draw the equity out of his own home to fund the purchase of his first real estate investment property, and a few more as well. He was amazed. I was more amazed he did not know.

Then I thought to myself, if this does interest him, then he will follow up and learn the principles that you need to master it. I asked Wing for a piece of scrap paper so I could show him in layman?s terms how to buy a real estate investment property with the equity he already had in his?s own property. Wing was shocked at how easy it was to do this strategy. I assured him, people were already doing this, and this was how easy it was. The thing that rocked me was, people don?t understand what recources they have available to them to massively grow their wealth creation strategies.

I am sure Wing is now thinking more about his possibilities where he can grow his real estate investment portfolio. With his income, he will be able to produce some impressive results that will ensure he maintains a steady growth and combined with his increased knowledge base that will ensure his real estate investment property portfolio grows to suit his new found life style. This is how easy it is. If you know the rules, you will succeed at real estate investing. Focus on what you want.You need to be listening on all levels. Establish a peer group of people who are successfully doing what you want to do as well. Most important point is to have a mentor or coach. All the most successful people have a mentor or coach. They do this because they cannot see what they are doing wrong. A coach can what you and correct your mistakes.This ensures you get to and achieve your goals quicker. That will make your real estate property investing or wealth creation journey smoother, more prosperous and enjoyable.

To your investing success Leo Love

PS If any of your family or friends are interested, please pass this on to them www.therealestateinvester.com

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.

How Do Restrictive Covenants Affect the Buyers of Homes for Sale?

Restrictive covenants (also called deed covenants) have been affecting buyers of real estate for as long as property has been transferring ownership. Such covenants are a condition of sale for real property, placed on the buyer by the seller or passed on from previous owners. By purchasing the property, the buyer agrees to abide by these restrictions on the use of the property.

Restrictive covenants are especially important to buyers of homes for sale; since they, like zoning laws, restrict how you may use your own property. Where city officials enforce public zoning laws, private parties enforce restrictive covenants ? generally a homeowners association or individuals who are affected by violations.

Restrictive homes for sale covenants protect the value of the home, itself, as well as the properties surrounding it. Some homes for sale covenants protect the people who live in close proximity to the property, such as other condominium or townhouse owners.

In earlier and not so charitable times, such covenants restricted to whom you could sell your home. Upscale areas of a city wanted to keep their neighborhoods free of particular races or ethnic groups. In the ?50s and ?60s, such covenants were deemed unconstitutional by the 5th and 14th Amendments to the U.S. Constitution, as well as unlawful by federal and state statutes.

Now, such homes for sale covenants are imposed to maintain a certain character and appearance of the neighborhood. Some examples are not being able to erect a chain link fence around your home, satellite dishes must be out-of-sight (a hard thing to do, if they are to function properly), you cannot park recreational vehicles at your home, or you cannot pitch a tent in your backyard for your children. Some homes for sale covenants are very restrictive ? for example, you cannot leave your trashcan in the street for more than one hour after trash pickup. Some homes for sale covenants dictate the maximum length of your grass or the exterior color of your home. Some control such mundane things as what type of pet you can own (if any), and during which hours of the day you can vacuum your carpets.

Violations of homes for sale covenants have serious consequences. You may be fined for most offenses; however, costly lawsuits have occurred from unresolved violations.

It is not the seller?s responsibility to alert a buyer to restrictive covenants on homes for sale. The restrictive covenants generally are on file with the county in which the homes for sale is located. During the purchase process, a title search or abstract update should expose and highlight any covenants for the buyer and his/her real estate attorney to review before the purchase of the homes for sale.

Unfortunately, this process does not occur until after a homes for sale buyer has made an offer. That means a buyer always should check for restrictive covenants BEFORE making an offer on a homes for sale, or AT LEAST make the offer subject to review and acceptance of all covenants.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Myrtle Beach Real Estate

One of the wisest decisions you can make is investing in Myrtle Beach real estate. It is a great investment for the perfect vacation every year, with the potential of earning a rental income for the rest of the year.

Myrtle Beach real estate provides you the opportunity of owning a home at the beach or on the 9th green of a world-class golf course. With an investment in Myrtle Beach real estate, you always have the opportunity of returning when you feel the need to take a break from your daily routine.

When buying Myrtle Beach real estate, most people purchase condos, as they are easy to maintain, are often located on the beach or golf course and prove to be an affordable means of buying vacation real estate. There are many condominiums that offer amenities like pools, clubhouses, libraries, tennis courts and kids? programs.

There are also homes with a beach view available. These homes have tons of bedrooms, baths, lots of greenery, beautiful backyards with pools and room for the whole family to experience the ultimate in vacation luxury. Of course, another advantage of purchasing a second home at Myrtle Beach is the income that can be earned from renting the property to other vacationers. This is the main reason that Myrtle Beach real estate is among the most coveted in the USA. Investors in Myrtle Beach real estate have the advantage of renting their property year round; the homes can also be rented to golfers or beach-lovers any time during the year.

Myrtle Beach provides detailed information on Myrtle Beach, Myrtle Beach Real Estate, Myrtle Beach Vacation Homes, Myrtle Beach Resorts and more. Myrtle Beach is affiliated with Myrtle Beach Hotel Rates.

Squamish Whistler Real Estate Markets Gear Up For 2010 Olympics

There is nothing like worldwide attention to drive interest in a region?s real estate market, and nothing drives World-wide attention like the Olympic Games. Since the announcement that Vancouver and Whistler would co-host the 2010 Olympics, The real estate market in the area between Vancouver and Whistler has been exciting to say the least.

While the Whistler Real Estate Market is historically famous for its high priced homes and chronic staff housing shortages, much of that has dissipated over the last few years. Whistler Real Estate sales remain steady as its profile is further increased, and since, compared to options like Vail or Aspen, Whistler offers a competitive option in securing ski resort real estate.

Further to the South, things are even more interesting. For decades, Squamish BC, a quiet industrial town at the end of the spectacular inlet of Howe Sound, lived in relative obscurity between it?s much more famous neighbours of Vancouver and Whistler. This quiet town of 15,000 was home to those who were tolerant of the commute to Whistler or Vancouver, forestry industry workers, and a few passionate outdoor recreationists.

However, the fact that the next Winter Olympics will take place in venues both north and south of Squamish and a concurrent booming British Columbia economy, combined with a hot Vancouver housing market have boosted awareness of the Squamish Real Estate Market. Squamish is now attracting a great deal of interest as a place to live and invest in real estate. Housing developments are springing up or being planned all over this town, which has recently branded itself ?The Outdoor Recreation Capital of Canada?.

For decades, the spectacular Squamish waterfront has been dominated by industry, most notably a saw mill, a deep sea port, and a chemical plant. But the Sawmill is gone, and 1300 housing units are planned as part of ?Waterfront Landing?, a development by Pridham that will see townhouses, apartment towers, and an impressive a waterfront walkway talk the place of a former sawmill.

Further south, The District has also attained ownership of another 60 acres of oceanfront property ? a former chemical site, which it hopes to develop as a park and residential area, with perhaps some light industry to provide local jobs.

For many, Squamish?s key attraction, the one thing that by far sets it apart from just about any place on earth, is the incredible variety of outdoor recreation opportunities available in this town. Just the sheer number of outdoor recreation activities available is hard to comprehend and it is a challenge to even attempt to catalogue them all. The rock climbing, mountain biking, hiking, white water kayaking, ocean kayaking, kite surfing, wind surfing, and river rafting are all frequently described as ?world class? in Squamish. Add to that three great golf courses, horseback riding, scuba diving, fishing, some road cycling and options for boat tours or air tours, and it is clear that many days of adventure can be fulfilled in Squamish, whether by resident or tourist. And of course, for those living in Squamish, a considerable bonus is the proximity to Whistler, putting world class downhill skiing a short drive away.

Moving towards taking advantage of the growing tourism opportunities, The District of Squamish has just completed a Tourism Information Centre on the well-traveled Highway 99. The $6 million structure is known as the ?The Adventure Centre?. The impressive, ?saddle shaped? building contains a coffee shop and district offices as well as standard Tourist Information Offices.

Real Estate in Squamish draws a great deal of interest from North Vancouver and with the commute from Squamish to Vancouver now shorter than from the Fraser Valley, there is a lot of interest from residents who are not sure they want to endure the daily slow drive from the Fraser Valley, the area to the east of Vancouver that has seen the greatest interest from the Vancouver based worker. And with its isolation, Squamish offers an escape from urban sprawl and an authentic small town feel.

Squamish has seen a huge increase in prices, with eight $1,000,000 plus homes for sale at the current time, and it is predicted that in a couple years time, it will be quite common to see $1,000,000 homes. At the other end of the real estate market, Squamish remains the most affordable community between Maple Ridge and Whistler.

Squamish market is also attracting young urban dwellers hoping to purchase reasonably priced homes in a favorite destination for recreation. Squamish is confident that it can sustain this growth and that it has every opportunity to become the service centre for places like Whistler and Pemberton, the other main towns in the Sea to Sky corridor. The addition of stores like Wal-Mart and Home Depot will inevitably make Squamish the place where people from Pemberton and Whistler go to shop, rather than having to drive the extra miles to North Vancouver.

Squamish Real Estate: www.myseatosky.com/squamish Whistler Real Estate: www.myseatosky.com/whistler Squamish www.DiscoverSquamish.ca

How to Make $25000 and More by Creating an Offer that Home Sellers Can't Resist

Once upon a time a King sent out notice that his daughter, the beautiful, ?Princess Profit?, was looking for a knight to wed.

Well, after the announcement, Princess Profit waited for her ?knight in shining armor? to come and sweep her off her feet. She waited and she waited. And then she waited some more.

There were so few knights in the kingdom that she found herself even willing to settle for a ?knight in tarnished armor?.

Just when she was ready to give up, low and behold two ?knights in training? showed up to ask for her hand in marriage. They weren?t exactly what she was hoping for, but she decided to look ?em over.

The first knight, ?Ted?, showed up at the castle wearing only a Speedo Swim suit which showed his flabby, white body. His messed up hair, and apparent lack of regular hygiene were also negatives in Princess Profits eyes.

With a look of distain, and a flip of her hand, the princess rejected Ted and sent him on his way.

The other knight, ?Lars?, didn?t have a shiny suite of armor either, but he was dressed in an nice suit and tie. He was handsome, well kept, and enticing to our fair maiden, the Princess.

Even though Lars wasn?t the knight in shining armor that the princess was looking for, she felt he was worth considering. After thinking about it overnight, she decided to marry Lars. Of course they lived happily ever after. The End.

All home sellers are waiting for their ?knight in shining armor? homebuyer to show up at their door. This is the kind of buyer that offers full price for the seller?s home, pays cash and wants a quick close.

Home sellers are willing to settle for a ?knight in tarnished armor? homebuyer. This homebuyer needs to get a loan to buy their home; they negotiate for a lower purchase price, and sometimes take more than 30 days to close the loan and buy the house.

But what about the really low offers, the ?low-ball? offers that some homebuyers occasionally make?

Most sellers won?t consider a ?low-ball? offer, but some will, especially if they need to sell soon and if the offer is ?well dressed and created to be enticing? to the seller.

With the real estate market slowing down there are many investors and 2nd home buyers making low offers to sellers that have their homes for sale.

Typically these low offers have been ?Ted like?; unappealing, soft and distasteful to the home sellers; in other words, a poorly created low offer. The kind of offer that the seller rejects with a flip of their hand.

There are several elements to a poorly created, low price offer that gets rejected automatically. If you can pretend you?re the seller for a moment, you will see what I mean with the first example:

A ?Ted? like, low offer:

?Soft, flabby financing: little or no down payment and the buyer hasn?t been pre-qualified with a local mortgage lender.

?Tiny, little earnest money deposit.

?Unattractive contingencies that put all the risk of the transaction on the seller shoulders.

If you think about the low offer you are making to the home seller, and the rewards you will receive if the seller accepts your offer, you can understand how important it is to ?dress-up the offer? with financial items the seller will find appealing.

For example, here is an appealing offer that ?Lars? might make on a $250,000 home:

?The home seller is asking $250,000 for their home, but the home has sat unsold for several months.

?Lars offers $200,000, but is willing to come up to $225,000.

?Earnest money: Lars offers $10,000 (or more), with the earnest money being ?hard earnest money?. Hard earnest money means the earnest money is released to the seller shortly after the offer is accepted, usually after the due diligence deadline passes. Of course the earnest money becomes non-refundable at that point. Can you see how this would appeal to a motivated seller? Keep in mind that Lars is going after a $25,000+ profit that he didn?t have to do much work for.

?Lars will be making a 20%, or more, down payment. A good solid, ?muscle-bound? down-payment and loan. Not at all flabby. Lars can use this to convince the sellers that he is a very strong, qualified buyer.

? ?Lars? offer includes a letter of pre-approval from a local lender. Better yet, he might get a certificate of full-approval by taking care of all loan documentation before making an offer.

??Lars? love for the ?Princess? would be unconditional. He would present a clean offer with the only contingencies being the due diligence time period of about two weeks to evaluate the property. He would also set the closing deadline at 30 days or less after acceptance of his offer.

This type of offer will occasionally be accepted in a soft real estate market. An investor, like Lars, could make tons of money all year long by making strong, low-ball offers like this and then buying the homes in which his offers are accepted.

If you really want to buy a home for below market value, consider making a strong muscle-bound, enticing offer. This might work more often than you might think.

About Me:
I have lived in beautiful St. George, Utah since 1998. I have been a real estate agent here (Washington County, Utah) since 1999. I have survived terrible housing markets and thrived in amazing markets (38% home appreciation in St. George in 2005). For more interesting articles, or to sign up for receiving my weekly St. George foreclosures email please visit my website: DonGlasgow.net. I also provide homebuyers with instant access to the Washington County MLS. I have gotten tons of compliments on my website, so make sure and check it out!

Condo Hotels: What Investors Need to Know

Condo Hotel projects are on the rise. From skyscraper hotels to luxury resorts, condo hotels dot the landscape of popular vacation destinations, such as Florida and Las Vegas. And big hitter personalities like George Clooney and Donald Trump, wanting to capitalize on its popularity, can?t wait to attach their name to a condo hotel project. Even Nicky Hilton is jumping into the condo hotel craze. Her boutique style condotel, befittingly named Nicky O, opens this November in Miami, and she has plans for another condotel in Chicago.

But because a star is successful, does that assure his/her hotel will be, too? Steven Roszell, owner and broker of CondoHotels.com and HotelsforSale.com, doesn?t quite think so. ?A big name on a project does not guarantee success,? says Roszell. ?Ivana Trump, George Clooney, Michael Jordan, and even the famed Hard Rock Las Vegas project are some of the most recent examples of scrapped projects.? Roszell cautions potential buyers not to invest in a condo hotel solely for its illustrious name. ?Big brands, such as Marriott, Hilton, and Four Seasons, and seasoned developers and management companies are a better indication of a project?s success. This is their business---they?ve been doing it for years,? Roszell adds.

The condo hotel?s location also does not predict its success. Orlando, the world?s top vacation destination, has reached its saturation point with condo hotels. ?It may come down to there is too much supply,? says Roszell. ?If investors buy with the intent of flipping the property to make a fast buck, the Orlando market may not be for them.? Roszell also adds, ?Investors anticipating a high rental income may need to rethink Orlando for the time being. There's potential for too much supply.

Roszell advises his clients to look at three factors when considering a condo hotel: location, growth, and future income. ?We tell investors that a condo hotel purchase is a lifestyle investment. Buy in locations where you want to vacation for the next 5 to 25 years.? Roszell also notes how condo hotels have become prevalent in major metropolitan cities, such as Boston, Chicago, and New York. ?There is a limited amount of prime location areas that can be built upon in these major cities, and in time it?ll be harder to get a room during peak season in those locations.?

Condo hotels or condotels are hotels that convert a portion of rooms into condominiums and make them available for purchase. Once a property is bought, owners may enjoy their new luxury condo and/or choose to rent it. Owners receive a percentage of any rental proceeds and hotel management takes care of maintenance and cleaning.

Steven Roszell is owner and operator of www.CondoHotels.com and HotelsForSale.com and specializes in the sale of Lodging and Hospitality properties around the world. Based out of Denver, Colorado, Steve has been hailed by the Denver Business Journal as one of Colorado's Heavy Hitters.

Steven brings 15 years of real estate knowledge to his businesses. Being a licensed real estate broker in Colorado and Florida, Steven has been able to build a vast network with both real estate developers and owners. Throughout his career, he has worked with several high profile clients including Turnberry Associates, Millennium Partners, W Hotels, WCI Communities, Citibank, and the United States Government.

Steven lives near Boulder with his wife and three children.

Tips For Choosing A Buyer's Real Estate Agent

If you have ever bought a home you know how important it is to choose a good real state agent. The right agent can help you find the perfect home to match your needs. Most people, however, find it hard to look for a good agent. In this article we will explain how to find the perfect agent for your needs.

The first thing you should do when choosing your agent is to see how honest they are. Call the ethics board and make sure they haven?t done anything illegal or unethical. Getting an honest real estate agent is very crucial to making sure everything goes smoothly.

The next step is to make sure you find a real estate agent who works in your area and other areas. If you select an agent who only will deal with people in your area then it will be harder for them to find people who are selling houses.

Make sure your real estate agent is friendly. If your agent isn?t friendly not only will it ruin your time of looking around they may repulse some sellers. You need someone who has a positive attitude and believes they can find the house of your dreams.

Try to find an agent in a realty company. Even if the company is only a small one it still gives some insurance to the buyer. It also means that the agent has the proper training and connections to help in your search for the perfect home.

Lastly make sure you like your agent. While a lot of people don?t think you need to like the company of the person you work with for a successful business they are wrong. If you find your agent repulsive then it will be hard for you to successfully work with them to find a house.

Following these basic steps you should be able to find a good agent when buying a home. However, the first thing to check for will be to make sure your agent is in fact an agent. Always check to make sure they are who they say they are.

Don't think that these precautions suggest that most Realtors are dishonest. In fact, most Realtors I have dealt with were fine - but you may as well find the best!

Try the Exclusive Buyer Agency Raleigh NC - an exclusive buyers' agency with a DIFFERENCE!

Giving Your Tempe Home a Shot in the Arm

Tempe, Arizona is such a great community to live in that homes for sale practically sell themselves. Who wouldn't want to live in such a dynamic community, a place with easy access to Phoenix, Chandler, Mesa and Scottsdale? Tempe offers great schools, beautiful planned communities, and lots of variety, conveniences and amenities.

If you own a home in Tempe, you've probably seen your home equity increase as your home appreciates in value. You may be tempted to sell your home and use some of the equity as down payment for a larger home in Tempe.

Whether you plan to sell your home or not, chances are you'd like to make improvements to the property to increase its value. What are some changes you can make to your property to keep that home equity growing? The answer may surprise you. The trend nowadays focuses not on the inside of your house, but the outside, the landscaping.

Landscaping has become the hottest trend in property improvement. But the focus isn't on merely adding some flowers or shrubs to your property. New buyers are looking for landscaping that creates a livable area outside the home, a yard that expands the space of the home to the great outdoors.

The Arizona sun provides so many days of beautiful weather, it's a shame to waste time indoors. That's part of the reason home owners are looking for what amounts to an outdoor living room.

Having a simple patio isn't sufficient. If you really want to improve your Tempe home, consider adding a patio or terrace that reflects the elegance of the rest of your home. Instead of a mere concrete slab patio, add paving stones or tiles.

Another important feature to consider is a covered area. As much as you may love the sun, having a sheltered or shaded area to take a break is an important part of creating the feel of an outdoor living room.

The patio or terrace becomes an important part of the home for entertainment and enjoyment. What can you do to make your patio more functional, with a feeling of permanence? How about adding a built in grill, or consider making a mini-kitchen outdoors. It may take a little money to add the features, but its well worth it in terms of the value it adds to your home.

What living room is complete without a fireplace? Well, fireplaces are important parts of indoor living rooms, but not such a practical part of an outdoor living space. If you are considering adding an outdoor fireplace or fire pit, rethink your plans. These features add little value to the home because they aren't something that is commonly used by most residents.

Water features, like ponds or waterfalls, offer little desirability. The feature may be pretty, but in the end it's merely time consuming to maintain. A far better use of money is in a swimming pool. Traditionally, swimming pools aren't considered a great equity generator in other parts of the country, but in Arizona, a pool can be a deal maker for a home.

More and more home owners are investing serious money in the landscaping around their home. They find the investment pays off not only in future sale of the property, but also increases their enjoyment of the home.

Consider making some improvements to the outside of your Tempe home, and you'll find that your house has a whole new lease on life.

Reg Gustin is a senior loan officer with Sun American Mortgage and specializes in helping families and their financial lending needs.

Get a FREE mortgage rate quote from a reputable Arizona mortgage company at http://www.arizona-homes-store.com/arizona-mortgages.html

Search the Arizona MLS at http://www.arizona-homes-store.com/arizona-mls.html

Click here: http://www.arizona-homes-store.com/arizona-real-estate-appreciation-report.htmland get a FREE copy of The Greater Phoenix Area Housing Appreciation Report, as compiled by Arizona State University with your free subscription to his monthly ezine, MARKET NEWS.

Charlotte North Carolina Real Estate

Charlotte is one of the quainter lands within North Carolina. This region was established 250 years ago by Scottish and Irish immigrants and is a conjunction of two different cultures. This region has two popular lakes, Norman and Wylie. The property around these lakes is considered to be valuable in Charlotte.

The entire town of Charlotte is divided into nine zones ? uptown, northeast, east, old south, new south, southwest, northwest, Lake Norman and Lake Wylie. These divisions are based on the properties located in these regions. The lakes Norman and Wylie have some very expensive properties on their banks, having average values of $369,000 and $315,000 respectively. The region of old south in Charlotte still has old style Victorian bungalows and is a competitor to ?the most expensive real estate in Charlotte. It also has properties averaging about $326,000. The northeast region of Charlotte is the least desirable property, mainly owing to a mixture of old world charm and a business center side by side. As it is easily accessible to highways 1-77 and 1-85, this region is bustling with traffic y. Properties in northeast Charlotte can be obtained at as low as $155,000; almost half the value of lake property.

Charlotte has a large number of exclusive buyer agents. These agents do not get their commissions from sellers, but from the buyers. Therefore, they are interested in securing as low a price for the buyer as possible. Most exclusive buyer agents within North Carolina are members of the National Association of Exclusive Buyer Agents.

North Carolina Real Estate provides detailed information on North Carolina Real Estate, Charlotte North Carolina Real Estate, Raleigh North Carolina Real Estate, North Carolina Mountain Real Estate and more. North Carolina Real Estate is affiliated with Connecticut Commercial Real Estate.

Condo Hotels: Baby Boomer's New Retirement Option

Despite national reports citing the real estate frenzy is approaching a freeze, there is a rising demographic that will continue to heat the market: The Baby Boomers. As they pursue their quest for the ideal vacation or retirement home, analysts suspect that this equity-rich group of retirees will keep the momentum of the market at a steady pace.

The historical components of the last 50 years helped to shape the profile of the Baby Boomer. Absorbing the examples of their parents, who experienced the economic constriction of the Depression and rationing of World War II, Boomers have been traditionally conservative spenders. Snapping up real estate, flipping properties and trading up houses during the time when Boomers were having their children in the late 60?s and early 70?s was not common. All changed with the red hot economy of the mid 90?s. Riding the wave of the peaking economy, the conservative spenders soon became savvy investors. Though the sizzling stock market burned out with the dot-com bust of the late 90?s, low interest rates coupled with amended tax laws fueled the housing boom of the early 2000?s. With children exiting college and retirement on the horizon, Boomers redirected their investing in real estate.

New research indicates that the number of second homes purchased between 2000 ? 2004 has nearly doubled. The value of homes doubled as well, with the average home rising 55% during these 4 years. Keunwon Chung, a statistical economist at the National Association of Realtors, says the Baby Boomers, especially those with above average incomes, are primarily motivating the second home market. Chung cites one reason these Boomers are snapping up homes is to diversify their financial portfolio. Another reason is to position themselves for their golden years. Tax friendly retirement states such as Florida, Arizona, and Nevada already have witnessed an explosive growth in both home construction and appreciation. Florida experienced a 25% increase in home prices last year, with one in five of those homes being purchased as a second home or investment property. Nevada?s home prices increased 17%, with a comparable rate being purchased as an investment property. The U.S. Census Bureau expects this rate to steadily continue and predicts second home purchases from Baby Boomers will reach 6.4 million units by 2010.

Most Baby Boomers are seeking luxury in their second home purchases. According to a Coldwell Banker survey, the Boomer generation ??wants luxurious homes and wants to remain active.? Neil Howe, author and expert on generational theory, confirms this by stating, ?Boomers want to live somewhere where they can remain active. They want to be near cultural and spiritual hubs that keep them connected with community and culture.? And this generation can afford their desires. From the accumulation of wealth through the stock market, home equity, and inheritance, along with the earning power of working during retirement years, Boomers have more money than any previous retiree generation. Studies from Harvard, NAR, and NAHB all agree that Boomers will most likely use their cash resources and home equity to purchase multiple residences that focus on prime location and amenities. While condos traditionally filled this requirement, a growing number of Boomers are now turning to condo hotels, condotels, and other various resort style residential options.

Condo hotels appeal to Boomers because it markets luxury and location, the two main ideals these Boomers are looking for to sustain their dynamic lifestyle. ?Why buy a condo in town that sits empty for ? of a year when they can own a condo hotel, have to five star amenities available to them, be centrally located in a top vacation destination, and receive rental income?? says Steven Roszell, owner of CondoHotels.com and HotelsForSale.com. The rental of the condos, provided by the hotel management company when the condo is unoccupied, is another main attraction of condo hotels for Boomers. Bob Waun, of vacation-finance.com, says that although Boomers desire resort style living and luxurious amenities, not all Boomers may afford it. Says Waun, ?Fewer than 20 million (26.5%) of US Boomers will be wealthy enough to afford a whole-ownership second home without rental income.? But because of the rent potential, condo hotels offer ?subsidized luxury that will be a growing choice among savvy Boomers.? Waun also believes sheer Boomer demand will motivate the condo hotel market. He cites, ?if only 1% of this generation demands condo hotel as a second home option, 1.45 million units will be needed. That?s 96,000 condo [hotel units per year, every year?.? for the next fifteen years that Boomers will be retiring. Considering that currently the US has only a handful of markets for condo hotel resorts, it is probable that that demand will supersede supply.

78 million US Baby Boomers retiring over the span of the next 15 years will undoubtedly make an impact on the real estate market. With the oldest of the Boomers turning 60 this year, realtors are getting reading to accommodate their demand. ?We will see large market cycles in the condo hotel market,? says Roszell, ?and CondoHotels.com is ready for it.? Though explosive appreciation and development is not anticipated, analysts do agree that the Boomers will help sustain a buoyant real estate market.

Steven Roszell is owner and operator of CondoHotels.com and HotelsForSale.com and specializes in the sale of Lodging and Hospitality properties around the world. Based out of Denver, Colorado, Steve has been hailed by the Denver Business Journal as one of Colorado's Heavy Hitters.

Steven brings 15 years of real estate knowledge to his businesses. Being a licensed real estate broker in Colorado and Florida, Steven has been able to build a vast network with both real estate developers and owners. Throughout his career, he has worked with several high profile clients including Turnberry Associates, Millennium Partners, W Hotels, WCI Communities, Citibank, and the United States Government.

Steven remains current with real estate industry news by attending trade shows and conferenes. He is considered an expert in his field and has been quoted in many internet newswires.

Home Selling Tips Part I

The following are some guidelines when deciding to sell your home in the current real estate climate.

1. Why are you selling your home? This is the single most important factor when deciding to sell your home. Do you need the proceeds for a specific purchase? Do you need a larger home due to changing family conditions? Or are you downsizing? All are important reasons to sell. But remember ?Why? you are selling affects your list price, time allotted to selling, selling effort and how much money you will be allocating towards the selling process.

2. Keep the reasons to yourself. Have you ever noticed that at an Open House the potential buyers and viewers ask: Why are you selling? Most are not just curious but rather looking for a needy seller or a negotiating position when making an offer. What I recommend is that you answer that with your housing needs have changed.

3. Do your research. With the advent of the various internet based sites this portion of the business has become more readily available then in years past. But you will want to:

a.) see what properties have sold in the last six (6) months that are a direct mirror of your home.
b.) Check out other open houses to see what your ?competition? is going to be like.
c.) get an independent appraisal so you have an idea of what the market value will be as well as letting any potential buyers know that your home can be financed.

4. Decide on a Realtor?.
Consider interviewing real estate agents while looking at several factors to base your decision. Some should include past sales, current listings, marketing plan, market knowledge and make sure that they are someone you can trust and feel confident that they will do a good job on your behalf.

5. Prepare your home.
Make sure your home presents itself in the best possible light. Fix everything. Make sure it is super clean. Eliminate the clutter from years of storage. Freshen the paint and make sure it is neutral in color. Make sure the entrance clean and unobstructed. Get rid of any odors like pet, food or smoke.

6. Remember to disclose everything.
Don?t get caught in the trap of not disclosing all known defects. By doing this you can prevent liabilities and avoid potential lawsuits. Some states like California have extensive documentation requirements so check with the governing body in your state.

Ken is a licensed real estate agent living and working in San Francisco, CA. For more information on Ken?s sales visit his website at: www.KenGlidewell.com

Why Do Successful Realtors Earn Money When They Sleep?

With the Internet penetrating every aspect of our life, it?s getting impossible to stay uninvolved. You can?t ignore the World Wide Web with its millions of users, or else it will ignore you. If you deal with vacation rentals business, but you haven't yet gone online, you are missing an opportunity to vastly increase your exposure to potential customers and increase your revenue.

?I wish I could work 24 hours a day as my web site does?, - said one of my friends. And here it is, the main secret of online presence: You can be in many right places at many right times. In fact, the time and place are always right on the Internet. Discover other secrets:

Full automation of your business
If your business is online, you can earn money round the clock. The property management software, which your rental portal is based on, automates guest-owner negotiations, accepts payments, tracks the statistics, shows property photos, and displays the available/ reserved dates for a property. The best thing about it is that it requires no involvement from your side.

Money Flow
You may charge property owners for being listed on your rental portal. This is more convenient than taking commission on every rent. A regular, stable income is better than one time commission ?jackpots? from rents; at least if you intend to be in the business for a long time. Still, no involvement from your side is needed. Owners can simply pay the membership fee via a built-in credit card processor. You may clean your teeth, sleep, eat, do whatever you want to do; the Internet means that you can accept payments from eager property owners to your online account at any time.

Word-of-mouth advertising
Those who offer rental property via your web site and see good results are likely to recommend you to their colleagues. Thus, more and more owners will want to be listed on your web site. The more owners you have, the more money you earn.

Likewise, those who rented a property via your web site and liked the ease and availability of the online service are likely to recommend you to their relatives or friends. Bringing them to your web site is better than to just giving your phone number. Via phone, you can not show property photos and very often can not check immediately the availability of the property within the specified period of time.

Affordability
To market your properties online you do not have to invest a lot of funds. You may purchase a turn-key solution and install it in a few clicks. It costs from $200 to $400 depending on the features. Other expenses you will have are customization costs (if needed), hosting fee, and advertising. But the online world charges for all this much less than an offline one does. All this can be done from your home computer, isn?t it a real honey?

Quick return on investment
The beauty of taking your business online is the speed you start returning your investment with. Most online realtors state that to become conspicuous in an Internet media is easier and quicker than in other media. Indeed, you may promote your rental web site all over the world. Anyone from any location can access your web site 24 hours a day. More visitors result in more customers. Would you mind being globally known?

Dear realtors, I urge you to take your business online. Do not lose precious time.

Stacey Daniels is an advertising copyrighter and a marketing consultant of iStateSoft LLC

Good News for Owners Sale of New Homes Down but Existing Home Sales in Good Shape

Over the past months, we have all been inundated with projections on the housing market bubble ? Will it burst? It is going to burst soon, be prepared! Sell Now! Buy Now! And the forecast differs depending upon the television channel you are listening to or the media article you are reading.

According to James Cooper of BusinessWeek magazine, the numbers point to a gradual slowdown of the market ? not a sudden crash, as many have predicted. In his July 10, 2006, article, Cooper cites how different indicators for the housing market are up one week and down the next. Some homes for sale indicators decline, while others rise. Though it is difficult to accurately project the future of the housing market for the remainder of 2006, he is optimistic ? in spite of all the noise that changes the market outlook on a daily basis.

Compared to last year?s peak numbers, the housing market is in decline for both new and existing homes for sale and the growth rate of prices continue to slow. Yet, the expected drop in sales has not been as bad as predicted, and the market collapse forecast has not occurred. The progressive slowdown is expected, however, to continue through the remainder of 2006.

The area of the homes for sale market that has been hit the hardest is the new single-family homes and existing condominiums and co-ops. Existing single-family homes for sale have faired the best with only a gradual decline in prices.

New home sales have fallen off sharply in 2006 and have the most volatile market indicators that cause the chaotic forecasts. There have been some ups and downs since the first of this year; however, new home sales are down overall by 10.9 percent since the end of 2005. Currently, builders have large inventories of new homes for sale that are expected to create further declines in both sales, prices and new construction starts for the future.

In May of 2006, the number of new homes for sale was up nearly 24 percent from last year for the same period. Median prices of new homes for sale were up by 5.1 percent for the same period but now have slowed drastically. With the average time to sell a new home being almost six months, builders are offering incentives to buyers, including helping with the closing costs, and are more willing to lower prices in order to sell off their inventories.

Condos and co-ops sales were off by 6.7 percent during the first half of 2006. The number of such homes for sale on the market has soared in the past year, gutting the market and bringing down prices and sales. The number of unsold units are up 73 percent.

The good news is for existing homeowners with homes for sale. This market is currently in good shape with both sales and prices holding up better than the new homes for sale market. Such sales have declined in seven out of the past nine months, but median prices are up 8.2 percent over the same period in 2005. According to Cooper, homeowners are not as willing to lower their prices as are builders, preferring to leave their homes on the market in order to find buyers willing to meet their price.

The bad news for owners of homes for sale is the number of existing homes currently being put on the market. In May of 2006, the number of existing homes for sale rose to 3.6 million, that?s one million more than in May of 2005. This is sure to begin affecting the existing homes for sale market. Additionally, the Federal Reserve is expected to raise interest rates soon that will affect mortgage rates for buyers. Right now is the best time to sell your home as buyers race to lock in current mortgage rates before the Federal Reserve takes action.

The predicted housing bubble crash is not expected in the near future. Consumer confidence is up by one point in June of 2006, according to the Conference Board?s index on consumer confidence, weighing in at 105.7. With good buyer confidence in the homes for sale market, a solid economy, and good labor markets, owners with homes for sale are still at a competitive advantage for now.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Wisconsin Foreclosure process

Wisconsin performs its foreclosures judicially. Specifically the circuit courts of Wisconsin have jurisdiction for the filing of a foreclosure complaint. There are nine

(9) separate steps to the foreclosure process in Wisconsin. They are 1) Breach letter; 2) Complaint to foreclose; 3) Lis Pendens 4) Judgment; 4a) default judgment; b) summary judgment 4c) Final judgment 5) Newspaper Publication; 6) Foreclosure Sale; 7) Confirmation of Sale; 8) Confirmation Hearing; 9) Deed of Foreclosure.

1.) Breach letter

The first step in the Wisconsin foreclosure process is for the lender to notify the homeowner by certified mail that he/she has breached the contractual terms of the promissory note and to notify the owner of its intention to foreclose on the home and seek a deficiency judgment.

This letter will be forwarded to the homeowner prior to the filing of the complaint to foreclose. This is the end of the private information which we will only see if we are able to enter the home prior to an auction and purchase the property from the homeowner directly.

2) Complaint to Foreclose

The Complaint to Foreclose is just a lawsuit which is filed in the circuit court where the property is located. The attorney prepares the complaint after a review of the file, performs a title search and has sent a breach letter to the homeowner.It recites the facts of the breach of contract by the homeowner.

For instance the complaint will recite the amount of the original mortgage, the current amount that the homeowner is behind on the mortgage and will include all of the other parties of record.

3. Lis Pendens

A Lis Pendens is filed after the complaint is filed to serve as notice to the world that the lender has an interest in the property.

4) Judgment

There are three (3) ways that a judgment can happen in a foreclosure case. First, the bank can win by a default judgment. Second, the bank can win by summary judgment.Finally, one can win after a trial.

4 a) DEFAULT JUDGMENT

A default judgment will be entered after the filing of the complaint and servings the defendants. The defendant then will either have a valid defense or not. If none, the court will enter a judgment for the bank by either affidavit or based upon oral testimony. Each defendant has to be notified of the hearing.

In Wisconsin, most foreclosure judgments are entered by default and not after a trial due to the consequences of filing a dilitory defense. The courts have required some Wisconsin lawyers to pay some of the cost and attorney fees of the bank (up to half) when filing an answer just to delay the inevitable foreclosure.

4b) SUMMARY JUDGMENT

If a homeowner files an answer with a defense then the rules require that a summary judgment hearing will be held within eight months after the filing of the complaint. The summary judgment is simply a way to get rid of a case that has no issues of fact before the expense of a trial. The case is heard after either the bank or the homeowner sends a notice to the other parties twenty days prior to the hearing along with affidavits. The other side will file opposing affidavits and then an evidentiary hearing will be held and a decision based upon a four prong test.

Here the bank will also file a motion for costs based upon a frivolous defense or pleading. Unlike most states, Wisconsin will require the attorney and the person acting in bad faith to stall for time to pay the fees of the moving party.

4c) FINAL JUDGMENT

Once the court has established that a judgment shall issue, they will enter into a judgment which will set out the amount of the debt due on the house. The Court can by statute add the following items to the judgment. 1) interest from the note to the date of the sale. 2) reasonable fees for the opinions of title. 3) Attorney fees of no more than five percent (5%) of the judgment. 4) Any real estate taxes paid on behalf of the homeowner. 5) Any insurance paid on behalf of the homeowner. 6) Any repairs done on the property on behalf of the homeowner.

The judgment will detail the amount of money owed to the lender, the date and time of the public sale of the property. The court will require the lender to publish a notice of sale in a newspaper with a general circulation in the county where the property lies once a week for two consecutive weeks.

5) NEWSPAPER PUBLICATION

The notice in the newspaper is required to have the following information contained therein:

1) The time and place of the sale.

This notice must be published for six consecutive weeks prior to the sale with the first notice not longer than eight (8) weeks before the sale.If the sale is adjourned for any reason the continuance and new date must be published in the newspapers where the property is located. The notice in the newspaper is required to have the following information contained therein:
2) A description of the property to be sold.
3) The time and place of the sale.
4) A statement that the sale is being made pursuant to a final judgment.
5) The heading of the case.
6) The name of the clerk ordering the sale.

This notice must be published for two consecutive weeks prior to the sale with the last notice not less than five days prior to the sale. If the sale is continued for any reason the continuance and new date must be published in the newspapers where the property is located.

6) Foreclosure Sale

The sale is then held in the courthouse at the county courthouse where the property is located. The high Bidder is required to deposit ten percent (10%) of the winning bid by certified check or cash with the sheriff. If the high bidder defaults on his obligations to make all payments within the prescribed time the high bidder will lose his/her deposit and the property will be re-advertised for sale.

7) CONFIRMATION OF SALE

Upon placing the deposit the sheriff send in a motion for confirmation of sale. The confirmation is then mailed to the parties including the winning bidder no less than five (5) days before the confirmation hearing. The notice shall state the following:
1) Amount of the judgment
2) amount realized at the sale
3) amount of the personal judgment sought against the homeowner
4) the time and place of the hearing.

Upon placing the deposit the clerk completes a certificate of sale and this served upon each interested party. This certificate of sale states the name of the high bidder and the price paid.

8) CONFIRMATION HEARING

The standards to confirm a sale are as follows.

1) If the sale was above the amount of the debt, there will be a presumption that the property sold for a fair value. 2) If the property sold for less than the debt there will be no presumption and the court will review the sale until it is satisfied that it has been sold for fair value and there is a showing that there was a mistake, misapprehension, inadvertence on the part of the interested parties or prospective bidders.

If the Court finds that the property sold for less than fair value the court has three options:
1. Order the sale void and schedule for resale.
2. Set a minimuim upset price for resale.
3. Confirm the sale if what the court feels is fair value is credited to the judgment.

If no objections are filed within the next ten (10) days the clerk will file a certificate of title. The property then passes to the high bidder.

9. Deed Of Foreclosure

After the confirmation hearing the winning bidder will be given a deed either of the sheriff or referee?s deed vesting the bidder with all right title and interest of the homeowner. The bidder gets the property subject to any senior liens.frontgateconsulting.com/

frontgateconsulting.com/

The Real Estate Closing A Short Course for Home Buyers

Real estate closings are what folklore is all about.

You have probably heard stories, both good and bad, about the real estate closing (or settlement). You have probably heard about the closing that lasted for days, or the one that blew up over something as trivial as a doorknob.

Or perhaps you have heard stories of closings where the sellers are getting a divorce and could not even sit in the room together.

Though it can be fun to hear these stories, keep in mind they are usually 10% fact and 90% fiction. Sure, it's true that not all closings go smoothly. But in reality the overwhelming majority of closings go quite smoothly.

Keep in mind that everyone present at the real estate closing is there for the same reason. They want to complete the transaction so you can buy your new home, or sell your existing home. Despite what you may wonder at times, it's highly unlikely that anyone at the closing has ulterior motives.

At closing, you can expect a substantial number of documents will be signed by the home buyers. Mortgage documentation varies from lender to lender, though they all basically contain the same general documents including the mortgage, the note, HUD Settlement Statement, and a variety of other documents that are signed to protect your interests and the bank's interests.

There will be a title insurance report and policy at the closing, which is further assurance that no one has a claim to the home you are about to buy. The title insurance offers important protection for the home buyers and their lender. Every lender will require title insurance, though the specifics of the policy and the searches will differ from state to state.

Bring photo identification to your real estate closing, and make sure you have a checkbook with plenty of checks. Though you may not have to write one check, there is the possibility that you may have to write several. Last minute adjustments may require you to rewrite those same batch of checks again.

Also during the closing, you will confirm that the mortgage application you filled out contains accurate information, and that your circumstances have not substantially changed since you completed the application (e.g. you changed jobs, etc). Keep in mind, it's always better to advise your mortgage lender about changes in your circumstances before the day of closing.

You should feel comfortable asking questions at closing. Also, take your time to read each document before signing it. Sometimes, you can request that the lender let you come to the closing early to review documents (so the rest of the people in the transaction are not waiting for you to do so).

Remember, as the home buyer you control the closing. Do it at your pace, and only sign when you are comfortable signing the documents. Ask your questions, and remember that everyone in the room wants to see the loan close. Work as a team, and you will be impressed with how smooth the transaction will go.

* Copyright 2006, Brandon Cornett. You may republish this article if you keep the byline and author's note, and also leave the hyperlinks active.

Learn more!
You can learn more about the real estate closing by visiting HomeBuyingInstitute.com, the Internet's largest library of home buying advice. Online at: http://www.homebuyinginstitute.com

Austin Commercial Real Estates

Commercial real estate in Austin is a fantastic investment. If you can afford to buy land and/or buildings there, you can be sure they will appreciate in value. Shop around and scope out the various neighborhoods to decide on what you are looking for. Since Austin is the capital of Texas, the demand for commercial real estate is very high. Austin has been chosen by organizations like 3M and IBM for research and development centers. Austin is full of well-educated people. It is the information technology hub of the southern USA. For years, Austin has nurtured and funded entrepreneurial efforts.

Many business persons are attracted to Austin, which raises the demand for commercial properties. This naturally raises the demand for housing, too. In Austin there is much demand for commercial complexes, shops, grocery stores, supermarkets, department stores, office places, malls and theaters. Since the development must be supported with proper education and training, the demand for schools, colleges and libraries is also high.

People?s health is one of the most important factors in a city?s growth. Austin is considered one the cleanest cities in the United States. Many people come to Austin to become allergy-free. Hence there is large demand for doctors, dentists, hospitals, medical stores, etc. The banks and financial institutes also seek a place in this growing city. The service industry and other support industries are also seeking a place to put firm foots in the city. With the rising demand for their goods, manufacturers seek warehouses or transportation centers in the city. Thus, Austin is attracting much business towards itself.

Austin Real Estate provides detailed information on Austin Real Estate, Austin Real Estate Brokers, Austin Commercial Real Estates, Austin Real Estate Listings and more. Austin Real Estate is affiliated with Dallas Real Estate Agencies.

Las Vegas Real Estate Agents

Las Vegas. Some call it the city of dreams, others dream of striking it rich at the casinos. It?s a city of lights, of laughter, of entertainment, of money. A city that never sleeps. Where fortunes can be made at the turn of a card and lost just as easily. With the legalization of gambling, the city attracts tourists all year around. And it?s never off season any time of the year. It holds the reputation of being the most populated city in the United States, has many identities like Sin City and Paradise. Given this background, one is not surprised to know that Las Vegas is one of the hottest real estate markets in the world. Real estate agents work overtime to make it one of the fastest growing metropolises in the country.

Las Vegas has its own crop of real estate agents. Some of the more popular ones are Jacqueline Garrens, who is part of Absolute Reality, Austin Texas, who operate in both the Austin as well as the Las Vegan communities, Adam Realty who are based in North West Arizona, Duffy Tarantino, Jana Thompson, Clark County and the Prudential Americana Group. Given the natural advantages of the place which has so much going for it, and which needs no introduction, one has to be careful in selecting a real estate agent. Don?t get carried away with the glib talk. Make sure you know exactly what you are looking for in terms of a home or office and stick with it. There?s a real estate guide to Las Vegas available or you could read up the current news from broker Edd Ahrens.

If Las Vegas is your dream, look for a nice, maybe quiet place to live in so you have the best of both worlds and one does not intrude into the other.

Real Estate Agents provides detailed information on Real Estate Agents, Find A Real Estate Agent, Las Vegas Real Estate Agents, Commercial Real Estate Agents and more. Real Estate Agents is affiliated with How To Get A Real Estate License.

The Fizzling Real Estate Boom

The last five or six years have been some of the best in real estate for a long, long time. There is little doubt those days are over, but what does this mean to you?

The Fizzling Real Estate Boom

For the last few years, we have seen an incredible surge in the real estate market. While some states such as Texas and Colorado missed out, most states showed hyper appreciation and sales rates. The combination of incredibly low interest rates and a solid economy created a frenzy in the market. This frenzy led to such amazing situations as homes in Las Vegas appreciating at rates of over 25 percent in a single year. A single year!

As with a bubble you might blow from gum, the good times had to come to an end. Recent reports from various credible sources show the real estate market slowing down. In many places, it is actually showing a reverse trend where home values are dropping instead of just slowing down. As a homeowner, what does this mean to you?

First off, there is no reason for you to panic. The appreciation you have seen on your property is a paper gain. This paper gain does not impact your financial situation until you actually sell your home and accept an offer. When discussing appreciation and home values, it is important to remember the figures represent a projection of wealth. If you make your mortgage payments on time and then sell in 10 years, the value of your home will only matter when you actually sell at the tenth year. The value in years 2, 5 or 7 is more or less irrelevant. As long as you are able to meet your debt repayment obligation, there is no reason to panic because your home is losing some value.

The real estate market will recover and so will the value of your home. Of course, many people would like to know when the recovery will occur. The truth is nobody really knows. At the moment, the gurus are suggesting the market will bottom out in 2007 at some point and then recover. Even if it takes till 2008, you should be fine. Once appreciation rates start moving in a positive direction, you will recover any of your paper losses in due course.

Yes, the real estate market is pulling back. If you relax and live in your home for a few years, the value will rise again.

Raynor James is with FSBO America - information on home values.

California Real Estate Agents

Consumer purchase power has increased despite inflation. Easy and hassle-free mortgage plans have helped numerous people pay for their own property rather than opt for rented property. This progressive consumer pattern has been a boon for the real estate trade. Services of real estate agents in California could be advantageous to clients when considering the purchase, sale, rental, or lease of a property.

Real estate agents are qualified specialists who are well versed with real estate trading. Agents have in depth knowledge regarding the property they deal with and are well versed with legalities involved in California real estate deals. Real estate agents may be able to satisfy customer queries related to property costs, appraisal, and motive of sale. They are well informed about property sizes, maintenance costs, and legal restrictions.

In order to select an appropriate California real estate agent, clients may approach any of the real estate firms or private brokers in the locality or online. Agents and clients may be able to discuss specific requirements, budgets, and other legalities at meetings or online. California real estate agents can provide information in relation to mortgage types for outright purchases. They may also recommend names of banks and financial institutions that may provide funds upon the presentation of their credentials.

California real estate agents work through a widespread system and may deal in property all over California or in a certain area within a particular city. They act as mediators for buyers, sellers, and rental agencies. Very often, clients do not meet until a property deal is settled upon. Real estate agents are often authorized to negotiate a deal if one party lives outside California. Real estate dealers prefer to hire agents as it helps in increasing the volume of sale. A number of California real estate businesses hire agents as salaried staff. Agents also receive additional payments for deals closed by them. These commissions are paid from service charges paid by clients.

Real Estate Agents provides detailed information on Real Estate Agents, Find A Real Estate Agent, Las Vegas Real Estate Agents, Commercial Real Estate Agents and more. Real Estate Agents is affiliated with How To Get A Real Estate License.

Greater Washington D.C. A Great Place to Live

Metropolitan D.C. & Northern Virginia -- A great place to live

According to Northern Virginia Association of Realtors' Realtor Update Magazine, recent statistics show that the D.C. Region is the Place to Live, Learn, Thrive

The report points to the 2006 Regional Report by the Greater Washington Initiative which states that the Washington Metro area was among the best in the nation in 2005 in terms of job cration, economic growth and quality school systems. Greater Washington is now the fourth most populous metropolitan region in the nation, trailing only New York, Los Angeles, and Chicago!

The article details that unlike those areas, the Washington D.C. metro population is expected to increase 8.5 percent by 2010

Greater Washington generated 270,800 jobs during the past five years, more than any other major meto area, with an unemployment rate of 3.4% in 2005, far below the national average of 5.1%. Thirteen of the area's high schools are in Newsweek's Top 100 ranking. Greater Washington has a higher percentage of PhDs than any other metro area.

Ours is also a region of great diversity. Fairfax County has a higher density of foreign-born residents than Chicago, New York, or San Francisco. Minorities will comprise 46 percent of the population in Greater Washington by 2010. Twenty percent of area residents speak a language at home besides English.

Greater Washington's 2005 median household income was $72,799 -- the wealthies of any large metro area.

All those statistics confirm what many of us already knew -- Northern Virginia is a great place to live. That's why owning a home here is a great investment!

For additional information about the report visit http://www.greaterwashington.org

Brian Block is a Realtor with RE/MAX Allegiance in Alexandria, Virginia and a real estate attorney in Northern Virginia. He can be reached by e-mail at brian@brianblock.com. Find out the latest about the Northern Virginia real estate market at http://www.virginiarealestatenews.com and visit Brian's website at http://www.brianblock.com for the latest homes on the market.

Sarasota Real Estate Marketing

With Sarasota becoming a hot spot for real estate investments, realtors use various marketing strategies to attract new clientele. Apart from the local print and media, realtors take advantage of the Internet.

Research shows that homebuyers prefer viewing details and photos of properties online. Detailed information on the description of the property, photos, maps and neighborhood information help reach thousands of buyers.

Websites offer directory listings and MLS, or multiple listing services, providing realtors the opportunity to gain maximum exposure. Virtual home tours give realtors a chance to offer a preview of a property to prospective buyers. As more buyers begin their property search online, a web tour is often their preferred introduction to their next home and to the real estate professional who?ll guide them towards closing a deal. For sellers, virtual tours help separate the serious buyers from the window shoppers. Virtual tours can be a simple series of photos and text or multimedia presentations with maps, floor plans, 360-degree panoramic images and a sound track. Many providers also offer lead capture and tour promotion services.

Property-casting is a new concept in real estate marketing. Property-casting is the filming of audio and video tours of real estate properties, for distribution over the Internet or to portable devices such as mobile phones, iPods and other multimedia devices. Full-scale audio and video tours are broadcast through different mediums. Property casting is economical and can be used in all areas of the real estate industry.

Professional marketing consultants that specialize in real estate offer a variety of marketing strategies to realtors. They are trained and experienced in project management, accounting, finance, real estate property operations, and information technology.

One of the reasons for Sarasota growing faster than many other counties in the US is the innovative approach of the real estate marketers here.

Sarasota Real Estate provides detailed information on Sarasota Real Estate, Sarasota Pre-Construction Real Estate, Sarasota Real Estate Marketing, Sarasota Real Estate For Sale By Owner and more. Sarasota Real Estate is affiliated with Minnesota Commercial Real Estate.

Where To Find Great Commercial Real Estate Deals

Commercial real estate is a hot commodity right now. Many investors are seeing the massive potential for income associated with this type of property. It is not always clear, however, what type of commercial real estate to invest in or what part of the country to choose. With a little research, you can find the perfect location to purchase.

Columbus, Ohio is a great location for commercial real estate. Columbus is the capital city of Ohio and also one of the fastest growing. All over Columbus, new businesses are popping up and with them the need for commercial spaces. There are several notable commercial real estate companies working in the Columbus area to help people find the perfect space for them.

Another great area is Greensboro, NC. It is a growing community with great historical roots. It was once known as the Frontier Town for those looking to go west. With it's temperate climate and friendly southern atmosphere, Greensboro is a town that attracts people from all walks of life. There are also many great commercial real estate companies, such as Kotis Properties, to help clients find their dream location. And with the attractive cost of living compared to many other parts of the country, this area will continue to flourish.

Austin, Texas also is a good investment for those interested in commercial real estate. Austin is a hot spot for families and singles. There is a growing economy and a great location. This makes Austin a good investment commercially. There are many good real estate companies in Austin. The Austin based COMMREX is one of the top commercial real estate firms. There are also some major national companies headquartered in and around Austin.

Los Angeles is one of the greatest markets for commercial real estate investors. Although it is one of the most expensive, the property values are ever increasing. Owning property in LA is like having money in the bank. There are significant advantages to owning in LA. One of the great tax benefits is that if you sell your home, you can take a profit exemption as long as you live in your commercial property for at least two of the five years following the sale of your property. This, along with the potential for income, is a great drawing card for LA commercial real estate.

Commercial real estate is a great investment. It appreciates significantly year over year, so the resale is excellent. If you decide not to sell or use it yourself, you can lease it and gather continuous income. Whether you use a firm in person or over the internet, be sure to do some research about the area first. When purchasing property, look for location. This is truly the key to finding the perfect commercial real estate investment.

Jon is a computer engineer who maintains many websites to pass along his knowledge and findings. You can read more about commercial real estate deals and areas at his web site at http://www.commercial-real-estate-tips.com/

Choosing Moving Dates for Your Relocation

Setting a move date can be important for getting the best price for your move and for getting the best quality movers on the job. Although most movers like to move during the summer when the children aren't in school, selecting a move date off season provides several benefits.

In addition to picking the right time of year, there are certain days of the week and times of the day that are better than others for moving so you can increase your chances of having a smooth move.

In addition to being the busiest season of the year for moving companies, moving during the summer can create other problems. Many movers need to hire temporary helpers to get them through the busy season. This means that it's more likely the moving laborers handling your move will be less experienced and may be less committed to doing a good job than their year-round counterparts.

If you have to move during the summer, set your move date as far in advance as possible to increase your chances of getting your ideal dates to move.

When setting a move date you should also stay way from the very beginning of the month and the end of the month, though you may not be able to avoid it. Leases usually expire during those times of the month so moving companies see added demand.

If you have a choice, choose the morning over the afternoon on moves that take less than a full day to complete. The crew will be fresher and you'll have more hours of daylight to complete the move, if you need them. Likewise, early to mid-week is usually less busy than Friday for local movers. If they can't move on a Saturday, many people like to move on a Friday so they can have the benefit of the weekend to get moved in.

For the complete moving guide and useful storage and packing tips visit the =>Moving Companies Directory

Eleven Ways to Create a Winning Project

Ten + Points for Successful Vertical Fractional Real Estate Development

Everyone seems to have to have a top ten list for this and a top five list for that. And so do I. In fact I have penned numerous articles on fractional real estate ownership, trying to zero in on the very most important components for success in the growing niche of vacation home ownership. As with any recipe, the ingredients vary with the chef. Perhaps one chocolate cake has more sugar, another more layers and some come straight out of a box.

Whatever the mixture, opinions differ on just the right measurements. The latest identifiers for success come from Dave and Emille Ellingson owners of the Meriwether Ranch, a working Cattle Ranch in Southwest Montana which offers rolling lots for single family vacation ranches. The offering will soon include vertical fractionals: vertical? meaning that it fits specific parameters.

Just what are these ?rules? for success in a vertical fractional market?

1.It is located in a superb area for the primary activity. Ski resorts should have the finest slopes; diving resorts, the finest seas; golf properties, the ultimate in links; fly-fishing resorts the ultimate in clear streams.

2.The vertical fractional should then be in the primo location within that general area. If you want to experience the finest wines, a fractional property in the Napa Valley makes sense. If you are an art lover, perhaps an urban property is the way to go. If diving is your passion, Nevis is a pristine environment.

3.Go with a credible developer. You want to make sure they are in it for the long haul, have had previous success and are sensitive to the environment around them.

4.Goods and services should be reasonably available. Of course it is quite fine to be in a remote locale, but you shouldn?t have to drive forever and a day to get supplies in and/or out.

5.Fractionals are primarily purchased are convenience and value. The area should literally teem with expensive luxurious properties and the quality of the fractional property should match or exceed those around it.

6.The season for the primary activity should not be brief. A window of excellent weather on a north country lake or two weeks of cool ocean breezes in a jungle do not lend themselves to a successful venture or investment in this particular market.

7.Don?t get in on the tail end of the market. To win in the fractional world be the first ?on your block? or close to it.

8.Marketing is of prime importance so have access to past and repeat customers. Those who already have an affinity with the area are your best bet to talk with.

9.If you do not have proximity to a commercial airport, make sure you have a decent jet approve private strip available. Your owners will undoubtedly be busy people who will not want to waste their precious relaxation time coming and going to their property.

10.Another terrific attribute is to have a wonderful, rich history to tell or a story to relate. Did Hollywood movie stars come to escape the pace of stardom? Do football heroes return for their golf vacations year after year? Did pirates lose pieces of eight among the reefs?

11.Finally?because this list needed more than ten items to clearly make its statement, make sure you create a plausible use plan that matches the owners? utilization of the Club component of the property. If they cannot use their purchase they will never be happy. And they will let others know of their disappointment. This 11th guideline is perhaps the most important for a vertical niche fractional property.

If you are thinking of getting involved in this exciting segment of real estate, do your research and ask yourself if your property will pass the 11 point test!

Carl G. Berry RRP is co-Chairman of Star Resort Group. He has more than 30 years of resort and urban development experience. Founded in 1978 Carl's company, California Resorts, Inc. (dba Resort Development & Advisors), is the market leader in urban share projects such as The Manhattan Club in NYC, San Francisco Suites and Powell Place City Shares in San Francisco. Mr. Berry is a co-founder of The World?s Finest Resorts (now part of RCI?s Registry Collection). He has served as Chairman of the American Resort Development Association (ARDA) and and is a member of the Red Flight, Recreational Development Council of ULI. http://www.carlgberry.com

How To Make Money On No Equity Properties

As a real estate entrepreneur, you will often run against problems with no equity properties. This is because; you will be buying property from homeowners who sell foreclosed property. This is the reason why most real estate investors do not buy no equity property. The only way to deal with it is to persuade the credit-lending bank to take less than the amount owed to it.

Making Profits on the No Equity Property; Discussed below are some ways to make money on no equity properties.

Deal directly with the Homeowners: Until the time the court orders the foreclosure of property, the banks are not the owners of the home. You need to deal directly with the homeowners to buy the property, and then buy the mortgage from the bank to transfer the ownership of the property to you.

After getting in touch with the homeowner, get him or her to sign a release Information form that will allow the bank to talk to you about the homeowners? mortgage.

Now you need to convince the bank to discount mortgage. Once you can prove that the property is in a bad shape and needs extensive repairs, and the owner is unable to repay the mortgage loan, the bank will probably agree to lower the amount. You may need to negotiate a little, but most banks do not want real estate on their hands, they just need some way to recover the money owed.

Once you have bought the property, you can sell it for a higher amount. The bank is relieved to have the real estate off its hands and get back some of the loan, you have made a profit, and the buyers of the house will probably have some equity on it.

Why Homeowners Will Want to Sell to You. A no equity property is a liability for the homeowner, especially if he is making a distressed sale. The options he has are limited; paying off the mortgage is difficult, renting out the property means spending money on maintenance and repairs, foreclosure means a bad credit record, and short sale could invite a huge tax penalty.

If you make a reasonable offer to the homeowner, chances are that it will be accepted. Since what you pay will get her more money than what the above options could get, he/she will accept your terms. Then you will draw up a sale contract and discuss it with the bank.

With a little creativity and out of the box thinking, you can convert a no equity property into a money making proposition. So the next time you come across a no equity property, do not walk away from it. It may be your chance to make significant profits.

Alexander Gordon is a writer for www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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