Month: December 2018

Tell If Your Property Is in a Flood Zone

Flooding in low-lying regions has been a dilemma for several years. This disaster has really an important policy problem for some towns. Some towns has carried out important efforts during the last 20 years to guarantee the safety of their open areas along with its developed neighborhoods. Flooding is undoubtedly an act of nature which has no regards to the damage to your house or personal things. Flooding of houses is a huge dilemma in most tropical areas in which there are higher volumes of rainfall. Individuals who reside in a region vulnerable to flooding are most likely aware about flood insurance as well as the high costs involved with living in a flood zone.

Mountain regions of big rivers and rivers that drain towards the coast frequently see rapid oncoming flooding. Land areas which might be at high risk for floods are known as Special Flood Hazard Areas, or flood plains. While damage research continues to be carried out in other places it’s not certain that your region is going to be getting any federal help. Flood areas are land regions recognized by the Federal Emergency Management Agency (FEMA).

Flood insurance is usually excluded from most homeowner’s insurance coverage. …

Keys To Getting Your Home Sold

  1. Curb appeal: When a potential buyer drives up, and approaches the house, what is his first impression? Does a negative curb appeal, drive potential buyers, to ignore the house, rather than even, taking a look?
  2. To stage, or not to stage: Because there is a cost, to staging a home, one must consider, one’s purpose in doing so. Look objectively, and see, if staging will substantially spur additional interest, and raise the offering price?
  3. Marketing plan/ advertising/ promotions: Depending on the market (buyers, sellers, or neutral), the type and quality/ efficiency/ effectiveness of the marketing plan, including advertising and promotions, is often a significant factor!
  4. Teamwork: Effectively marketing and selling a home, requires a meeting of the minds, not only between buyer and seller, but, even before that, between homeowner, and his real estate agent. How the team will work together, should be thoroughly discussed and planned, from the onset!
  5. Negotiating strategy: When hiring your agent, thoroughly discuss your agent’s negotiating philosophy, strategy, expertise, and skills. It is not enough, simply, to be told, someone is a superb negotiator!

Inner City Living

Check the Neighbourhood

Many city suburbs are in urban areas where there are often higher rates of crime. Make sure that you’re renting in a relatively safe area. Now clearly, when renting a studio apartment, you’re probably not looking for a gated community, but friendly neighbours and well lit areas are a must. Do a drive through of the area one night and ask yourself if that’s a place where you’d like to take the garbage out around midnight. If not, you may want to look through the classifieds again until you find one that’s a little safer.

Amenities

City living means that everything is practically at your doorstep. But some areas don’t have many local shops or amenities. You don’t want to have to take a half hour car ride every time you go to buy groceries. If there’s nowhere to buy your essentials within walking distance, it may be a good idea to look elsewhere for an apartment.

Check the Size

For a bachelor, just about any size apartment will do. All you really need is a room with a kitchen and a bathroom attached. That being said, every square metre counts, even in a cheap apartment. Check …

Evolution of Green Real Estate Properties

  • Use of renewable energy sources
    The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.
  • Rainwater collectors
    Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.
  • Use of wooden furniture’s
    Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.
  • Natural landscaping
    It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.
  • Eco-friendly interior insulations

Getting Out of a Real Estate Contract

  1. If you are a buyer you typically have more leeway when it comes to opting out of a contract, especially before signing. The first thing you should do is to contact your agent and notify them that you want out. The reason for this is that either as an investor, or a homeowner, the rules for cancellation and penalty are usually specific to an individual contract. As investors, we should strive to use our own contracts so that we know them very well and what to look for in any situation. However, notifying your agent can be beneficial as they may catch something that you missed or know about something you don’t. Always utilize the efforts of those on your team, after all, that is what they are there for.
  2. The next thing you should do is immediately review your copy of the contract to look for reasons that a buyer could cancel the contract, contingencies that need to be fulfilled before the sale is final, and how much time you still have left to cancel the contract, otherwise known as the right of rescission. Unfortunately, often times if you are using someone else’s contracts and you have put down

Buy New Property

The Facilities

Modern new properties come with a variety of facilities which directly determine how valuable they are. These amenities include pavilions, studios, gymnasiums, Laundromat, pools, groves, avenues, ponds, fitness galleries, jogging trails and spas among many others. The facilities that a property has determine its value and just how convenient it will be for you or the target market. Now-a-days people are paying more attention to luxury options when it comes to a property. It makes it important to choose something that will be most appealing.

Surrounding Property Value

Before buying a property, it helps to also consider the value of other properties in the same area or location. The worth of the neighboring houses can help you in putting an estimated value to the property. You however must consider the available facilities and factors such as the view that can be enjoyed from one property to the other to make a good estimate. New amenities can affect the value of the property. When you check around, you will also get to know about shared challenges or problems among the properties.

Market Timing

It is among the most important. It is of great importance to time the property buying …

Bidding on a Tax Sale

Learn the bidding laws and rules. Come prepared. Make sure that you know the forms of payment that the county accepts. Also, know the deadline set by the county to complete your payment once you win a bid.

Have an investment strategy. Make plans prior to, during and after the auction. The excitement of the auction can cause you to overbid or lose out on a property.

Research the property you are interested in very carefully. Do a title search, check for any liens against the property. Inspect the property personally or send someone who can inspect it for your. If you don’t have anyone, check if there are any pictures of the property. Try to determine its condition based on the appearance in the picture. If the property needs some repair, estimate the price. Know the value of the property. Compare the prices of similar homes in the neighborhood. Research recent local sales online or through county records to get a sense of current prices. Know your market. This is important, especially if you planned to have an early return of investment.

Bidding can be tricky. It is important to decide how much are you willing to bid. Once …

No Money Down Apartment Investing

Many first-time investors look only at the prospect of simply raising the rent to make up the difference but fail to consider if the current tenants will accept this increase by a new owner. Before heading into the financial marketplace, the investor will need to consider all of the variables in the cost of ownership before seeking financing.

Nearly every commercial lender will require 20 percent involvement by any new owner and most experienced investors will have the liquid assets to take advantage of a good real estate deal.

If the prospective investor is planning to buy an apartment building and undertake a major reconstruction project to improve its value, there will be a whole new set of requirements by the bank, along with a lot of extra paperwork before the lender will consider approving the loan. However, consider the bank has approved the loan on the pretext the buyer can come up with the required 20 percent down payment.

No Money Down Apartment Building Buying Strategies Explained

Unfortunately, many new apartment building buyers are unaware of the creative financing possibilities that will allow for the purchase of an apartment complex with no money down. It is possible to take

Flip a House For Serious Profit

Know Your Budget

The number one cause of failed house flipping is failing to keep a handle on your overall budget. You need to know exactly how much you are willing to spend and how the house you are interested in will be able to offer a solid return on your investment.

As such, never overbid for a house, no matter how appealing it may look. There will be others out there for you to buy and making a purchase that is outside your means will lead to you failing to properly renovate the house, which could lead to a failed flip.

Research Foreclosed Properties

While your estate agent will be able to help you find some potential bargains, one of your best resources is going to be companies that host a database of foreclosed houses that you should be able to get at far less than the traditional market price.

Aim to speak to banks and other lenders who will be responsible for taking ownership of a house if the previous owners have failed to keep up with their payments. They will have a list of all of the homes in their possession and will be quite keen to …

Advantages and Disadvantages of Buying Houses

Advantages of Buying House

  • Life time Income: One of the greatest advantages of investing in real estate is that it offers income for the entire life time. Most people buy homes and rent it out so that a considerable amount of income can be obtained.
  • Privacy: Apartments and other places lack sufficient amount of privacy. By buying houses, privacy can be ensured.
  • Space: Homes are spacious and can be decorated according to individual tastes and preferences. Renovation and maintenance can be done accordingly. It is easy and possible to control the entire property which can seldom be done in apartments.
  • Capital appreciation: Another advantage of buying house is its capital appreciation as there is a large content of land.
  • Leverages: Most people invest in real estate due to the availability of leverages. There are different ways to buy homes and properties without spending your own money. Seller financing is another method used to buy properties. Today banks provide housing loans and other facilities to encourage real estate investments.
  • Intrinsic value: One of the greatest advantages of investing in real estate is its intrinsic value. Properties seldom lose its value in the due course of time.
  • Appreciating asset: Every new house