Monthly Archives

February 2018

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5 Home Energy Areas To Consider

When most home buyers look for a house, of their own, they consider many factors and considerations, including whether it meets their needs, in many ways, and is affordable, for them. When considering these economic factors/ considerations, very often, little attention, is paid, to the continuing costs of utilities, especially for heating, air conditioning, and electric. As a Real Estate Licensed Salesperson, in New York State, for over a decade, as well as a homeowner, and an investor in a few rental properties, I have come to recognize and realize, it’s very important, essential, and relevant, to pay keen attention to energy costs and considerations. This article will, therefore, attempt to briefly review, examine, consider and discuss, 5 specific areas of a home, which may have a significant impact.

1. Windows and Doors: Energy studies often indicate, perhaps, the largest loser of energy, in most homes, is via, the windows and doors. We often refer to these as drafts, but there are several possibilities, many of which, might be simply addressed. Pay attention to exterior doors, and see if there are areas, which may not be air – tight! A simple adjustment, such as applying seals, etc, along the bottom and sides of the doors, minimize this waste/ leakage! Are the windows, energy – efficient? If they are not, examine the Return on Investment, in terms of replacing the inefficient ones, with energy – efficient windows. If the windows are the right quality, also check and review, whether there is a need to seal the sides, etc, with quality caulking. You’d be amazed by, how much energy, might be saved, by addressing these issues!

2. Heating system/ alternatives: It’s important to have your heating system, examined, and maintained (including Preventive Maintenance), every year, prior to the colder weather. A well – tuned, properly, efficiently performing burner and boiler, not only will save you money, but avoid numerous potential headaches. Some individuals might benefit from using alternative methods, such as solar, geo – thermal, etc, and it is a good idea, to review, whether you might benefit from these.

3. Separate hot water system: While you only use your heat, during certain seasons, you need hot water, year – around! Therefore, doesn’t it make sense, to avoid, wasting money, by running the entire heating system, when you only need to heat your water. Some use solar, for their hot water, depending on location, costs, etc. Others might benefit, from having a separate hot water tank!

4. Insulation: Obviously, the quality, amount, and location of insulation, has a significant impact on energy costs. However, many ignore, the need to insulate, behind light plates, because there is often, significant energy loss, there.

5. Other materials; electric; etc: Examine the materials used, and whether they are efficient, quality, and hopefully, sustainable. Also, make a point of reminding, everyone who lives in the house, to remember to turn off the lights, etc, when they aren’t needed and/ or necessary.

In the vast majority of situations, much of this can be accomplished, at a relatively minimal expense/ cost. Don’t complain about energy costs – address them!

Article Source: http://EzineArticles.com/9873127

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What Is Property Price Evaluation?

The property evaluation is one in all the foremost necessary factors in commercialism house, living accommodations or land. After all, whoever desires to sell his property must know a lot of he will evoke. You have got to calculate the property price.

Used property or land are on the market price determined (market value). This can be the value that may sometimes and fairly be achieved. The market price is so meant to mirror market conditions on the premise of the key date. The legislative assembly has outlined 3 procedures for its determination, that are utilized in the calculation.

How much is my property worth? This question is usually tough to declare land house owners. And nevertheless, it’s vastly necessary. Anyone who puts the acquisition worth too high runs the danger of staying on his property. If you are doing not need enough, you’ll have monetary losses. These issues will be prescribed in the run-up to an acquisition with a decent land evaluation.

Anyone desire to sell their property ought to calculate the property price to outline a practical asking price. Curiously, the results of a true estate evaluation are additionally after you inherit a property. You have got been living in your home for a protracted time and you’ll not estimate the worth of your property? Then let the property value be calculated.

Real estate evaluation: totally different prospects for the calculation of the worth
Generally, house owners have totally different choices of land valuation. Thus property house owners will take a course yourself market summary procure and calculate the info the $64000 estate price. At the top of this text, we tend to gift 2 machine formulas with that you’ll calculate the property price. The results are appropriate for an initial assessment. However, they are doing not represent a reliable asking price. Numerous websites provide price calculators for land. The pc accounts a number of factors. They’re thus rather a rough guide than a practical property valuation.

Even land agent will calculate the property price. However, it’s necessary to search out the proper broker. It ought to be acquainted with each the precise object kind and also the regional conditions. Solely then will he do a true estate valuation and confirm a practical asking price.

Looking to sell, but not sure what property is worth? Maybe you are just wondering what competing properties are being marketed at? The keys to establishing what your house is worth are the asking price of local comparable properties and the prices achieved for recent sales.

Article Source: http://EzineArticles.com/9885040

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How To Inspect A Property Before Sale

Open inspections are a great opportunity for homebuyers to check the condition of the property they are targeting to buy. Buyers and investors should find time to personally visit the property to be able to make a guided buying decision. In fact, it would be a good idea to take down notes to keep track of the features that impress and don’t impress you.

A personal inspection of the home you are planning to buy can be done not only once. You can make several visits and while there, take the opportunity to snap photos of the different parts of the house. Just make sure to ask permission from the real estate agent before doing so. Further visits should be able to give you a real picture of the property’s condition and know its major and minor problems.

So what you should you look out for? Here are things that you need to be aware of.

Check for any obvious cracks in walls. Cracked walls can signal certain issues such as the house is sinking or needs the replacement of stumps. If large cracks are present, it would be best to get advice from a structural engineer.

Look for signs of leaking in gutters and eaves. Leaking gutters including roof that sag and broken roof tiles need repairs or replacement hence, it would be wise to ask about it from your real estate agent.

Also, look for obvious signs of recent patch ups or fixes that may be masking other issues. For example, peeling paint is a sign of moisture in the area while bubbles on paint can mean the presence of termites.

Find out if the floors are even or under foot. Floors that are sloping or bouncy could indicate the need to replace stumps.

Check if the bathroom or laundry has a smell of mould. Walls that have moulds signal excessive moisture in the area.

You may also ask the real estate agent or the seller for a due diligence checklist. They should be able to provide this checklist to prospective buyers at open for inspections.

Keep in mind that a home inspection is very important as it can tell you the defects of the property that could affect its value and the cost it would entail to repair them. This should not be taken for granted if you are buying a house to avoid a costly mistake.

Article Source: http://EzineArticles.com/9891466

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Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

Article Source: http://EzineArticles.com/525199

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Commercial Real Estate – Big Profits

Real estate has always been known as the safest of investments.

In fact, real estate investment completed after proper research into and evaluation of the property (to determine actual and future value), can lead to tremendous profit.
This is one reason many people choose real estate investment as their full time job.

Discussions about real estate tend to focus on residential real estate; commercial real estate, except to seasoned investors, typically seems to take a back seat.
However, commercial real estate is also a great option for investing in real estate.

Commercial real estate includes a large variety of property types.
To a majority of people, commercial real estate is only office complexes or factories or industrial units.
However, that is not all of commercial real estate. There is far more to commercial real estate.
Strip malls, health care centers, retail units and warehouse are all good examples of commercial real estate as is vacant land.
Even residential properties like apartments (or any property that consists of more than four residential units) are considered commercial real estate. In fact, such commercial real estate is very much in demand.

So, is commercial real estate really profitable?
Absolutely, in fact if it were not profitable I would not be writing about commercial real estate at all!!
However, with commercial real estate recognizing the opportunity is a bit more difficult when compared to residential real estate.
But commercial real estate profits can be huge (in fact, much bigger than you might realize from a residential real estate transaction of the same size).

There are many reasons to delve into commercial real estate investment.
For example you might purchase to resell after a certain appreciation level has occurred or to generate a substantial income by leasing the property out to retailers or other business types or both.

In fact, commercial real estate development is treated as a preliminary
indicator of the impending growth of the residential real estate market.
Therefore, once you recognize the probability of significant commercial growth within a region (whatever the reason i.e. municipal tax concessions), you should begin to evaluate the potential for appreciation in commercial real estate prices and implement your investment strategy quickly.

Regarding commercial real estate investment strategies it is important that you identify and set investment goals (i.e. immediate income through rental vs later investment income through resale) and that you know what you can afford and how you will effect the purchase.

It would be wise to determine your goals then meet with your banker (or financier(s)) prior to viewing and selecting your commercial real estate.

Also remain open minded and understand that should the right (perfect)
opportunity present itself, your investment strategy might need to be revisited and altered, sometimes considerably.
For example: If you find that commercial real estate, (i.e. land) is available in big chunks which are too expensive for you to buy alone but represents tremendous opportunity, you could look at forming a small investor group (i.e. with friends or family) and buy it together (then split the profits later).

Or in another case (i.e. when a retail boom is expected in a region), though your commercial real estate investment strategy was devised around purchasing vacant land, you might find it more profitable to buy a property such as a strip mall or small plaza that you can lease to retailers or a property that you can convert into a warehouse for the purpose of renting to small businesses.

So in a nutshell, commercial real estate presents a veritable plethora of
investing opportunities, you just need to recognize them and go for it.

Article Source: http://EzineArticles.com/567775