Archive for March, 2010

Purchasing Foreclosures: the Basics

Saturday, March 13th, 2010
Andy Asbury asked:




In this challenging economy there are many homes coming available due to foreclosures. As buyer, there may be opportunities to buy in your area as a result. You can purchase homes in foreclosure at different stages in the process. Properties can be bought before the foreclosure procedure is completed, at bank auctions, or homes that don’t sell at auction as REOs. All these types of sales can be complex to complete so be sure to hire an agent who has experience with your particular type of situation.

To avoid foreclosure, sometimes a home owner will accept a buyout on their property for less money than is owed to their lender. This practice is called short selling because the owner is selling their property for an amount short of what is owed on it. Sometimes this happens to avoid foreclosure, though it can also happen in the case of fallen property values. Be aware that short sales can take longer than regular sales to close.

Other ways to buy foreclosures are to buy at a public auction or buying bank owned or REO properties. These properties are often priced for less than what is owed on them because the bank does not want to hang on to a bunch of properties. These bank owned properties cost the bank money, so it is in their best interest to clear them out as quickly as they can.

In some cases when these kinds of properties are bought, they may come with tenants who have refused to move or angry tenants who expressed their anger with property destruction when they vacated. Be aware that these are your responsibility to deal with as the buyer, if these possibilities are more than you want to deal with then foreclosures might not be the best option for you.

Do not think that buying distressed or foreclosed properties means easy money. There can be many stresses in purchasing real estate, particularly if you are not prepared for the possibilities that may occur. The best way to make your way through purchases of distressed properties is to ensure that you are as informed as possible and that you have an agent or lawyer working on your side.

What is a Condo Hotel ?

Friday, March 12th, 2010
Tom Budniak asked:




Condo Hotel is a residential building that is used both as a condominium and a Hotel. Though Condo hotels are not a new concept, they are getting increasingly popular with each day. The reasons behind their popularity are not that hard to find. Hotel developers are finding it difficult to get finance for the hotel projects and development projects are increasing. In this scenario, it makes perfect sense for hotel developers to sell condo units of their hotels to individuals rather then fund the whole hotel with their own money or loans. For Condo unit owners, it gives them a chance to own a private residence in a Five star hotel with an option to earn money as rental. Condo Hotels in Playa del Carmen Real Estate and Cancun, Mexico are an excellent risk free investment opportunity in today’s low interest rate and volatile stock market scene. Condo Hotels generally feature star class amenities and are located near a popular vacation destination. Every big player in the hotel industry is now enterin in this highly popular and lucrative business. A condo units owner can stay there whenever he likes and for the rest of the period, he can place unit under Condo Hotel Management’s rental program. Condo Hotels management markets individual investor’s condo unit as a hotel, handles reservation, takes care of the front desk and maintenance. In exchange, the hotel management gets a part of the revenue from the rental. Many developers offer an array of hotel services available to condo hotel unit owners like valet, concierge, maid and spa services, restaurants etc.

Playa del Carmen is a vibrant beach-side city located on the coast of the Caribbean Sea. It’s a base from which Mayan Reviera can be explored. It has unspoiled white sandy beaches and clear caribbean sea. It’s very popular with American and European tourists. Many of whom also buy second homes here in Playa del carmen. Condo Hotels in Playa del Carmen are really good options. Playa del Carmen and Cancun Real Estate is booming every year. And therefore properties appreciate every year. There are lot of options when it comes to buying Condo Hotel in Playa del Carmen. The Fives By Karisma, Aldea Thai, Pueblito Escondido, Viceroy Mayakoba are few of the condo hotesl that provide world class amenities along with great location and services.

Author : Tom Budniak

Bristol County Savings Bank Hosts Homebuyer Fair on Saturday May 3 in the Carousel at Battleship Cove in Fall River, Ma

Friday, March 12th, 2010
Steve Dubin asked:




DATELINE: TAUNTON, MA…Home prices are down and the traditional spring home buying season is in full swing. Is it a good time for you to consider buying a home? Would you be eligible for a mortgage if you did decide to buy?

Find out the answer to these and other home buying questions at Bristol County Savings Bank’s FREE Homebuyer Fair to be held on Saturday May 3 from 10:00 AM –1:00 PM in the Carousel at Battleship Cove in Fall River, MA. The Homebuyers Fair will feature light refreshments, free carousel rides, and free giveaways as well as a $250 credit toward closing costs with Bristol County Savings Bank.

Attorneys, Realtors, Mass Housing and Bristol County Savings Bank will offer information. Participants will include Attorney Ronald Lowenstein of Fall River, Goretti Joaquim of Mass Housing, Steve Dumont of Precision Home Inspection Services, and Mary Ellen Macinnis of MGIC. Bristol County Savings Bank Mortgage Consultant Mickie Lima will also be on hand to answer questions.

Massachusetts realtors in attendance will include representatives from KAM Realty in Fall River, Salt Marsh Reality Group in Swansea, Tri Professional R.E. in Fall River, Riverside Realty Associates in Somerset, American Dream Realty in Westport, Town House Realty in Somerset, and Re/Max Right Choice in Fall River.

If you’re tired of renting, need more room for your growing family, or if you just want to learn how to get started, plan on attending the Homebuyers Fair and find out what it takes to become an actual homeowner. For more information please contact Mickie Lima at Bristol County Savings’ Commercial & Residential Loan Center at 508-809-0603.

Bristol County Savings Bank

Bristol County Savings Bank is a full service financial institution offering commercial lending, personal and business banking, and mortgage services. The key words at Bristol County Savings Bank are: “Commitment, Stability, and Community,” values that are combined with state-of-the-art technology to meet the needs of its customers. A dedicated local community bank for over 160 years, Bristol County Savings Bank is actively involved in giving back to all the communities it serves both through financial support and the volunteerism of its people.

Founded in 1846, Bristol County Savings has $1.1 billion in assets, with 244 employees in Southeastern MA and RI. The Bank’s 10 full service banking offices are located in: Taunton, MA (2); Raynham, MA (2); Rehoboth, MA; Attleboro, MA; North Attleborough, MA; Franklin, MA; Dartmouth, MA; and Pawtucket, RI. Three loan production offices are located in Taunton, MA, Fall River, MA and in Providence, RI; and two Educational Branch Offices at Taunton High School and Attleboro High School.

The Main Office and Corporate headquarters of Bristol County Savings Bank are located at 29 Broadway in Taunton, MA 02780. For additional information please call 508-824-6626, or visit www.bristolcountysavings.com.

Dubai – Dream Destination for Properties

Thursday, March 11th, 2010
Ena Taylor asked:




 

Dubai is situated in the United Arab Emirates. It is well known for its tall buildings and high standard of living. Dubai is the upcoming city for developers and foreign investor. Dubai offers superior land, building, complexes for business, residential etc. purposes. Real estates developers in Dubai offer properties for business, commercial and residential purposes at reasonable price. Dubai offers exotic villas, apartments, commercial building at an affordable price. Most of the foreign investors are investing their money in Dubai properties.

Dubai has always been known for its wonderful architecture and attractive designs. City attracts many businessmen and tourist throughout the year. Dubai attracts buyer from all over the world because of its introduction of freehold status in 2002. There is no stamp duty and any other taxes on the Dubai properties. Dubai properties are available at budget and premium price levels. Foreign buyers and investors are more interested in buying Dubai Properties because the process of holding the property is less complex than in any other country.

Dubai has some big projects such as Dubai Sport City, Dubai Media City, Golf World, Palm Diera, Palm Jumeira, and Palm Jebel Ali and many more in the queue. These properties include villas, office space, penthouses, apartments, and studios. Real Estate Dubai offers huge amount of opportunity. Dubai is still developing and investors are still beating in the market.

Dubai is one of the city that offer tax-free lifestyle and tax-free shopping. There are lots well paying job opportunities in Dubai and the climate is very beautiful. Dubai offers residential villas at cheap rates. Burj Dubai, the tallest tower in the world that offers luxurious residential property in the development. Dubai becomes a dream destination for the real estate developers and investors. Dubai endures to set pioneering records for construction and development, taking Dubai to the front of the most superior real property destination in the whole world.

Gulf property online is one of the portals that provides you the necessary details of real estate developers in Dubai. If you want to buy properties in Dubai, go through the website and search leading real estate developers.

Affordable Homes in Houston Texas

Thursday, March 11th, 2010
Cherri Fox asked:




Houston Texas, the fourth largest city in the country, is considered one of the best places to live in the United States and for those pursuing the American dream of owning a home, that dream is possible in Houston. If you’re looking for some long term capital appreciation through real estate investment, then real property in Houston could certainly prove to be a good investment. The most stable property prices range from $250,000 to $650,000 and should bring the best long term appreciation.

If you tend to be more of a cautious investor, but still want to grab some of the best real estate for sale in Houston then you might want consider one of the new developments that are under construction. $200,000 or less can get you a pre-selling unit that can be turned into a very attractive property to rent out as a vacation home, or on a more permanent lease basis. These developments often provide relaxed and secluded living, surrounded by a natural outdoor setting, and at a much lower price than you might pay outside of such developments.

What to Look Out for in Commercial Real Estate Listings

Thursday, March 11th, 2010
Dan Ross asked:




Choosing to buy commercial property is a big decision. You require a high level of investment and have to ensure that you don’t make a costly mistake. A number of websites provide commercial real estate listings of properties for sale. These lists are regularly updated. One can search these lists to gain a general idea of the quality of the properties that are available within a given budget. The prices of commercial real estate typically vary according to their location, size, and quality of construction. If you are planning to invest in commercial real estate, you should look at these lists these lists. Looking at these lists requires a great degree of skill, as it is important to read between the lines to uncover the true value of a listing.

Find out how many Commercial Property Listings there are in your local area

Your first step should be to find out what the best locations to buy commercial properties are. Often you will find that certain areas will have a high density of commercial real estate for sale, be wary of such pockets lest you find yourself buying a ticket aboard a sinking ship. Although it may cost you more money at times, make it your mission to find an area where companies such as your own have a proven track record of doing well.

Once you find an appropriate property from a commercial real estate listing, perform a thorough inspection before you buy Commercial Real Estate. While you may feel that a thorough inspection is not necessary as you are not going to be living there, this could not be further from the truth, as this is a business premises inspection it is just as prudent to thoroughly examine as a residential property.

Are you Buying Commercial Property in a Rural or Urban Setting?

When you look at a commercial real estate listing, the type of development where you are purchasing commercial real estate is very important, for instance if you are in a rural setting then you will be looking for very different features than if you were looking for a ware house for sale in an urban setting. Another thing to consider if you are in a rural setting is the cost, you can expect to pay lot less to be in a less developed area but if you are in a more developed district, especially a retail shop for sale or lease inside the city center you can expect to pay a premium.

Will you be buying this Commercial Property to rent out?

It is also important to consider whether you are buying commercial property for your company to actually move into, or whether you are going to rent it out to someone else. If your goal is to own the commercial property to let, then don’t get hung up on want you would like to see when buying commercial real estate, rather find out what the widest possible market is looking for in a commercial property for lease and acquire something that fits that description.

What are the tenant’s assets and liabilities?

It is a good idea to obtain a financial statement from the potential tenant that is occupying the space that you buy. The financial statement will list the tenant’s assets and liabilities. This will give you a good idea of how financially stable the tenant is. Would you like a tenant with $0 cash in the bank, a negative net worth, and credit problems? The answer is of course, no. Once again it’s surprising how many commercial investment property owners don’t do this and find out after the fact that it’s something they shouldn’t have done in the first thing. Now, this is all pretty easy as long as you do a good job of checking out the tenant in the first place.

While on the face of it a commercial property listing may appear straightforward, it is important to dig deeper and find out more before signing on the dotted line. Don’t be afraid to ask the right questions. Only when you are absolutely sure that all your questions have been answered to your satisfaction, you should proceed with the purchase.

Haunted Houses of Maryland

Wednesday, March 10th, 2010
Kevin Koitz asked:




Rich with tales of civil war apparitions and ghosts of former hospital patients, Maryland is a state that has a colorful paranormal history. Today we’ll focus on just a few of the homes that have earned the ghastly reputation of being haunted -in case you’re in market for some haunted real estate of your own.

The first stop on our tour is the Paint Branch Home in the city of Adelphi, which is currently being used as a retirement home. A former slave house, the spirits that haunt the estate don’t appear to be violent, but have been known to linger around bedrooms and fill the house with their singing. Songs of the dead can be bone chilling indeed!

Next up is the abandoned mansion on Asylum Road in Catonsville. Whispers and loud noises can be heard from inside in the house, even though the property has been vacant for many years. Some have even claimed to see people walking around the yard, only to disappear into the ether a moment later.

In Ellicott City, Oak Lawn is a stone house that dates back nearly two hundred years. Reports of paranormal activity include disembodied footsteps, flickering lights, and the smell of food cooking. Due to the ghost’s penchant for food, he became known as the Cooking Ghost, and has become a regular fixture on the property.

Also in Ellicott is a home known as Lilburn. It’s reputed to be one of the most haunted places in the state of Maryland. There’s constant speculation as to who is actually haunting the home, as a number of people have died on the premises. Inexplicable noises, windows refusing to stay shut, and strong odors in empty rooms are just a few of the happenings reported by witnesses. One of the staff members in the house also claimed to have seen the ghostly figures of a man and a girl wandering around, as well as hearing a child’s cry coming from one of the rooms.

In the unincorporated town of Urbana, Landon House has become particularly famous for its resident ghost dogs. In the early days of the house, a large number of dogs died in the basement area, leaving behind panicked scratch marks on the walls and unsettled spiritual energy. The dogs have been heard barking by a number of witnesses over the years, with no rational explanation. In addition to the dogs, the apparition of a friendly female spirit has been spotted on the estate, as well as the specter of a Civil War officer.

In Perryman, the legend of the Perryman Mansion has grown over the years thanks to its remote location and imposing demeanor. It hasn’t been lived in for a number of years, and has fallen into an advanced state of disrepair. Common reports include mysterious voices, horrible stenches, and collections of animal bones both in and outside the house.

Finally, visitors to Towson’s Hampton Mansion have heard glass and china breaking, as well as the crashing of chandeliers, where no objects could be found. A former butler has also been seen roaming around the house from time to time, apparently unaware that he’s long since been discharged from his position.

Newspaper Real Estate Listings vs Online Real Estate Listings

Wednesday, March 10th, 2010
John Ash asked:




The most common ways of looking for real estate listings are through the Internet and through your local newspapers. No matter what you are looking for, whether it is a home for you and your family to live in or real estate to invest money in, real estate listings will be the prime way for you to find the real estate that is best for you. To find real estate listings, you can use both the Internet and newspapers. It is up to you which one you choose.

Newspaper real estate listings

Looking at real estate listings in the newspaper is one of the most traditional ways to find real estate to purchase. Today, it still stands as one of the most used ways to look over real estate listings. Unfortunately, looking through real estate listings in newspapers can become very time consuming. You will find yourself flipping through pages. After reading through them all, you have to go back and find the ones that fit your needs the most.

Once you find the real estate listings that fit what you are looking for, you have to take the time to write down the contact information and then call them and make an appointment to view the property. Sometimes the real estate listings do not include pictures, which can be a total setback. Newspaper real estate listings are updated every week or so. This means that real estate you are interested in may not be available once you get around to it. If someone were to purchase the real estate before you, you have no way of knowing it before you waste your time.

Internet real estate listings

Since the Internet has grown more and more popular, finding real estate listings online has become one of the easiest and quickest ways to find real estate. The best thing about internet real estate listings is that they are updated two or three times a week. This makes it easier for those who are looking for real estate to buy because they do not have to worry about the real estate being unavailable or already sold.

Also with internet real estate listings, you will be able to few high-resolution photographs of the real estate you are interested in, instead of relying on a small black and white photo out of the newspaper. This allows you to truly see what the real estate looks like. Finding the perfect real estate for you is easy online. You do not have to go through lists and lists of listings to find one that is suitable for you because with a simply click of your mouse, you could find the real estate you are looking for.

Online, you can pick certain criteria such as how large the real estate is, where it is located, etc. This cuts down on the amount of time spent looking for real estate that fits your criteria. With online real estate listings, you do not have to worry about finding contact information. Most times, the website will provide you with a service to contact a realtor, or you can easily print out the real estate ad.

Landlords Rents Suffer As Market is Saturated

Wednesday, March 10th, 2010
Michael Challiner asked:




As the rental market rapidly soars tenants are being forced to reduce rents or take the risk of losing their tenants. This is due to the amount of homeowners who are now renting out their properties rather than selling them for a cut price.

There was a rush of so called “accidental landlords” last year as decreasing house prices influenced homeowners to delay the sale of their property. This is caused a lot of competition in the rental market and put pressure on rents.

However, corporate demand has decreased as fewer businesses bring new employees into the UK. According to agents, rents have been slashed by approximately 20 percent. In some parts of London this has been as much as 30 percent. Properties have been left empty as tenants move out to find better properties for the same price.

“It has been harder than expected for many accidental landlords,” says the lettings director at Knight Frank, the estate agent. “It depends what area and what price range they are in but tenants are trying to knock 10-30 per cent off asking prices in some cases and are even renegotiating mid-term.”

There is significant activity in the market, according to them; the number of like-for-like lets has also risen on last year. There is still an imbalance between the number of people looking to rent and the number of properties available. Knight Frank. On average, has twice the amount of rental stock it had this time last year.

Savills and Hamptons International, also have a lot of properties for rent, which they say is forcing reductions in rents. “Anyone who has had a vacant property would have experienced a rent reduction in recent months,” says Mrs Gordon, head of lettings at Savills. “We are seeing applicants negotiating heavily to get a property and making multiple offers.”

Tenants who took out a contract just 6 months ago are asking landlords to renegotiate rents. They are using the six month break clause in their contract to see if they can get a better deal. “They might exercise the break and go,” says Mrs Gordon. “In London, people are moving into more central areas because they can get a much better property for the same price.”

Not all areas of the market are experiencing the same problems. Agents say tenants are obtaining discounts only where there is oversupply, and some sectors are in fact still seeing a shortage of stock. Other areas are not as bad as central London, which is down by about 15 percent. The area with the largest drop off in demand is the top end of the market.

Knight Frank says that properties priced at more than 1,000 pounds a week are harder to let. As unemployment rises corporate lettings are also suffering. Accommodation budgets for staff are also been cut by businesses.

She says some large companies may relocate their employees unless the landlord cuts rents by several hundred pounds a week. “People relying heavily on the corporate market have to renegotiate quite substantially.” The biggest fear for landlords is whether they will be able to meet their mortgage repayments, as they may find they are not earning enough to cover their payments.

The New Home Builders in Houston Create Functional Art

Tuesday, March 9th, 2010
Tim Dillard asked:




How many people can honestly look at their home and determine that their house could be considered functional art? If you are lucky enough to own one of the houses created by the new home builders in Houston, chances are your house is right up there with some of the most exquisite artwork. New home builders in Houston do not just build buildings with kitchens and bathrooms, but they create a transitional flow from one line to the next that lives and breathes artwork to its fullest, yet proves to be fully functional with the latest technology and design features.

The new home builders in Houston have been very busy as they land a multitude of contracts for planned communities, new luxury homes, and state of the art private custom homes. And the new owners have reported being very happy indeed. And who wouldn’t be? After all, the new home builders in Houston have managed to deliver some out of this world design features that can leave one breathless, or at least speechless. One home was fortunate enough, despite the ample kitchen space, to have an entire hide away island placed into the floor plan.

It is more of a peninsula, really, but I don’t think we call additional counter tops anything other than islands. Regardless, with the press of a button the chef of the evening can bring forth and upward from the wall and floor a full size kitchenette island complete with a rotating top. Can you imagine how convenient this is going to be at every holiday party from here on out? For preparing food, the island comes out, gives the chef ample time and more than enough space to create party masterpieces and then, if more kitchen space is required, the island sinks back down into the floor and the wall with a simple press of another button.

If the party hosts wish to turn the island into a secondary mini bar, a simple rotation of the island counter top by 90 degrees and they have a whole new counter space. And to top it all off, it is beautiful. The counter top is created from marble and the deep cherry accents create once again, functional art. The new home builders in Houston know how to bring a luxury home to life by combining the best of technology with the beauty and grace of tradition.

Of course, these incredible islands are not available in every home. That’s the point of having a custom home, so that yours is different from everyone else’s. However, stair cases that conjure up images of Scarlet O’Hara come in many of these powerhouse homes, and you don’t have to request a custom home to get one. Additionally, sliding glass doors that are voice activated behind tapestries that appear so fragile you’re afraid to sneeze.

That is until you watch Rover plow through them and realize their appearance is an illusion. Now that is the type of brilliant design feature (granted designed by a decorator and not a builder) that one would expect to find in one of Houston’s luxury homes. The craftsmanship throughout the homes built by new home builders in Houston is impeccable. Natural woods combined with beautiful brass or silver create tremendous accents in many of the bathrooms. Not to mention, the attention to every detail throughout these homes speaks of some of the finest basic skill knowledge, a simplicity that makes all the difference when looking into a luxury home.

The custom homes have the same attention to detail as the luxury homes. Each of these homes has every specific minute detail from the corners of the molding to the curve of the basement stairs taken into consideration. These homes are not just for living, they are for admiring from afar, from up close, and from inside. For anyone who has found less than perfection from their custom home builder or their luxury home explorations, they certainly haven’t been seeking out homes created by new home builders in Houston.

Many people from various places throughout the country have actually come to see the homes that have been built in the last two or three years, as the new home builders in Houston have developed quite a reputation in the luxury home and custom home industry. In reality, they are quickly becoming the ultimate leaders in home building. Perhaps it’s nothing more extraordinary than paying attention to every single detail and creating the absolute best with what is in front of them. Perhaps it is a function of extraordinary talent. Whatever it is, these homes are extraordinary and are drawing national attention as functional works of art.