Real Estate Agents – Qualities to Look For

real-estate-agents

Most people don’t wake up on any given morning and say to themselves, “I think I’ll go out and find a real estate agent today!” You are either planning to buy or sell a house; otherwise you probably wouldn’t be looking for a real estate agent.

Let us say that you are, indeed, planning to buy or sell a house and actually need/want the services of a real estate agent. How do you decide which agent to work with, and what qualities should you look for?

The start of your relationship

Working with a real estate agent means that you will be forging a close business relationship for a potentially extended period of time. Your agent is the person who will know almost as much as you do about what you are looking for in your future home, or what is motivating you to sell your current home. He or she will be privy to your financial condition, and sometimes the keeper of secrets – information regarding the purchase or sale that you do not wish (for privacy reasons) to have disclosed to anyone.

Your agent will help you remain focused during the often emotionally charged process of buying or selling your home.

Your dream real estate agent

You may already have some idea of the qualities you want or expect to find in your dream real estate agent. Let’s consider five important qualities that all real estate agents should have:

• Honesty: Above all else, you depend on your agent to be honest with you, and when representing you. Your agent should conduct all activities related to your purchase or sale with integrity.
• Knowledge: Your agent should be knowledgeable about real estate regulations, laws, contracts and practices.
He or she also should be thoroughly knowledgeable about the real estate market in which you are planning to sell or purchase your house.
• Proactive: The agent you choose should be one who will act on your behalf and not on what’s most convenient or what will yield the largest commission.
Your agent should be working diligently every day to market your property or locate and secure the ideal property for you.
• Communication: Every client has a preference for how he or she wishes to communicate with the agent, and how often. As part of your partnership, you and your agent must agree upon preferred method(s) of communication.
Your agent should be an excellent listener – great at asking questions, but even better at listening to your answers.
Your agent should be committed to keeping you well-informed at all stages of your sale or purchase.
• Detail focused: There are so many details connected with each sale or purchase. You will be depending on your agent to keep track of everything related to the transaction. following up on leads, and communicating effectively (and regularly) with you.

Every client has his or her own dream real estate agent wish list. The five qualities listed here are only starting points. But they are among the qualities most frequently cited by clients and industry writers as being among the most important.

Tips for Finding the Perfect Home

perfect-home

There is a lot that goes into deciding which house to buy. Money factors in, location factors in and most of all you want to love the place you will eventually call home. Here are ten tips to help you find the perfect home!

1. Put your roots in the ground: When looking for a home you want to pick a home that you could see yourself living in for many years, at least 5-7 years ideally.

2. Leave room for growth: Because you’ll want to stay in one home for several years you want to find a place that can adapt as your life changes. For instance you might have a new baby or if your child moves back home after college. Leave options open for those family planning moments, and even if you don’t have it in the budget to get a home big enough to fit those future needs you can look for one that will allow you to build on in the future.

3. What can’t you live without: Write down the features you require in a home, such as number of bedrooms and bathrooms, garage, formal dining room, family room and living room or great room, and the size of yard. These should be the items you absolutely cannot live without.

4. Check the surroundings: You aren’t just buying a home to live in when you pick a house out you are also choosing a neighborhood to live in. For instance It is preferable to buy a home that is in an up-and-coming or well-cared-for area. Homes in areas that are declining may lose value and never recover. Looking into the school systems and the crime-rate are also important factors.

5. Keep it in the budget: Understandably you want the best thing that your money can buy. However when buying a house you will need to check your finances, including looking towards current and future expenses, and don’t exceed that. It’s better to buy a home that you can easily afford than one you have to work to find money for.

6. Don’t limit yourself when looking: Make sure that you are seeing as many different homes in your price range as possible and don’t limit yourself to just old or just new, look at both.

7. Location matters: A house that is located on a busy street might be bothersome as a homeowner than one that is located inside a quiet neighborhood. Not to mention that when it comes time to re-sell your home will most likely be worth more if it’s located in a quiet area opposed to a busy one.

8. Pick your “type”: There are many different types of homes out there, so figure out which type best suites you whether it’s a single-family-home, a condo, a townhome, etc. You’ll want to pick a type that works with your lifestyle and your future plans. For instance a single-family-home will have to be maintained by the homeowner while a condo will have someone else to look over all of those needs.

9. Distinguish important from not so important: A small thing that can be fixed shouldn’t detract you from buying a perfectly good home. For instance you might go into a home and not like the paint, the cleanliness or the carpet but those are not things that are permanent so it’s something you should be able to look past. On the other hand you might be able to put a marble in the middle of the room and have it roll, you might have a slab issue and that would be something that would be something you wouldn’t want to have to deal with.

10. Look to the future': Although you want to look at your house as a home first and not an investment you should put some thought into how easy or difficult it might be to resell the home eventually.

What You Need to Know About Selling a Property

selling-property

There are many ways by which you can sell a property so that the family earns additional income. You can sell through a real estate agent or to a cash home buyer. You can also sell at an auction, or make private arrangements directly with a buyer or through a mutual acquaintance. Before the deciding on which property sale method to go for, you must learn what works best in specific situations.

Immediate sale

If you need to sell your home in a week’s time or less, you can sell to real estate investors. If you don’t want the house anymore and the priority is to get it out of your hands, then this is your best option. There are many other reasons why you ought to work with specialist sellers instead of real estate agents. For instance, it is better to sell to an investor if you are involved on an estate sale, if you are going to relocate for a new job, or if you are faced with a foreclosure or dealing with bad tenants. If there is not much equity in the property, the best solution is an investor that is willing to take the problematic property from your hands and resolve pertinent issues.

Find a quick sale company with a good track record. Don’t settle with the first offer that comes your way. If you make hasty decisions you might lose out financially. It is also important to clarify first whether the company will buy the property directly or find a third party buyer instead. They are still the best recourse if there is a financial conundrum to sort out as soon as possible, or if the urgency of the sale is due to mitigating circumstances such as poor health in the family or marital problems.

Cash on hand

You only need to find the right buyer if you do not want to be bothered by home inspections and appraisals, or face the hassles of approved financing. If you prefer to expedite the process, you will ask for cash payment. Fortunately, there are private buyers that pay in cash. The alternative is to find a reputable specialist investor with a cash offer.

On negotiations and legal matters

Once you are assured that the person or company you are dealing with is a legitimate prospective buyer, prepare yourself to negotiate terms. The property owner must never hesitate to establish grounds. During the negotiation, remember not to allow the other party to pressure you into a decision. Perform your own valuation and make the comparison with the figures offered by at least three real estate agents and the prospective buyer’s assessors. You must not be satisfied with verbal assurances. Everything must be written down, and negotiations ought to be completely documented. Before signing anything, a trustworthy legal adviser should go through the papers in detail. But then, do not rely fully on your legal representation. You must also read the agreement and understand the contents fully. If some details are unclear or confusing, make the effort to clarify them before finalizing the contract.

Real Estate Secrets for Selling Your Home

selling-home

Selling your home? The real estate experience can be daunting and stressful, but there are a number of strategies you can employ that will mitigate stress and ensure that you receive the greatest return on your investment.

Don’t Skimp On Your Listing

Real estate listings that go into greater detail tend to perform better than those that do not. Don’t cut any corners. Be sure to use words like “luxurious” and avoid words with any negative connotations or unclear meanings such as “potential.”

Renovations

Research suggests that a bathroom remodel will yield the greatest return of all home renovations. If you invest $3,000 into a bathroom remodel in the mid-range, you’ll receive roughly $1.71 back for every $1.00 you spent. That’s some serious return on investment. Oh, and be sure to avoid kitchen remodels. The return on such remodels is poor and will likely put you at an overall financial loss.

The Power of the Number Nine

It is also suggested that you should use the number nine in your listing as opposed to rounding up your price. Prices with nine included in the number perform better and may sell up to a full week faster than those that do not include the number nine. For example, attempt to sell at $249,000 as opposed to $250,000.

Timing is Everything

The season and even the week that you attempt to sell your home will significantly impact both how quickly the home is acquired on the open market and how much it goes for. Homes sell far faster in the spring than in the winter. Also, avoid the second week of December specifically, when you can expect your home to sell for as much as three percent lower than the average.

Embrace Seasonal Flair

Speaking of the seasons, you shouldn’t be afraid to have your home reflect the time of the year. Add wreaths during applicable holidays. Make sure your fireplace is highlighted during the winter months and that screened-in porches and the like are particularly tended to during the spring months. Match colors to seasonal moods, too. If you’re selling in the fall, decorate your home with more muted colors than you would the spring or summer. Such color cues and decorations have a psychological effect on buyers that can result in a better real estate offer.

Sometimes It’s the Little Things

Focus on the details. That cannot be stressed enough. Dust window sills, clean all your glass surfaces thoroughly, trim the bushes along your sidewalk, and generally attend to all the little things. These will all make a difference to the buyer. Oh, and when you’re done cleaning, hide away all your cleaning supplies! You don’t want your prospective buyer to be thinking about having to clean your house before they even purchase it.

What Are the Types of Home Loans?

home-loans

Buying a home is not easy especially in today’s expensive market scenario. After all, homes are not cheap and you may not always have the cash handy to buy the property that you desire. Given this situation, home loans are an excellent option. Additionally, paying rent or paying an EMI comes with the same amount of financial stress. However, the end result is different. When you are paying an EMI, you end up becoming owners of the home. This is what makes home loans a preferable choice for thousands of aspiring couples as well as bachelors.

But, before you apply for a home loan, you need to familiarize yourself with the different types of home loans. Usually, this information can be procured from bank or financial institution’s representative. In fact, if you are feeling lazy enough to make the call or walk in to the nearest branch, the internet is always there to bail you out. Do a simple search and you will be able to get a rough idea.

Meanwhile, here is a brief preview to help you understand it better:

Fixed rate home loans: Every loan comes with a rate of interest. However, when customers opt for a fixed rate home loan, it means that during the tenure of the loan, the rate of interests will not change irrespective of the external economic scenario. This could be advantageous in cases when the economic turbulence could lead to interest rates peaking. But in cases where the interest rates are going to drop considerably, opting for a fixed rate home loan could prove to be heavy on your pockets.

Variable rate home loans: This is the ideal option for people who have an excellent foresight and are able to predict the economic scenarios with surprising accuracy. As part of the terms of this loan, the applicant is charged according to a changing rate of interest. This change is dependent on the prevalent market scenario.

Land purchase loans: If you are buying a plot for constructing a new house, the land purchase loan works well. Most banks are willing to provide up to 85% of the amount as loan.

Flexible tenure plan: As part of this option, the bank will lend you the amount and allow you to choose the preferred repayment tenure. In some cases, the bank also offers option where the repayment starts after a certain period like six months or one year.

How to Get A Private Mortgage Loan

private-mortgage-loan

What to Consider When Applying For a Private Mortgage

If you are looking for information on how to get a private mortgage you have come to the right place. The right mortgage broker knows how to get a private mortgage and the process is relatively quick and easy. You may not even need a down payment in cash, and there also may not be a credit check. So your mortgage broker connects you with private lenders who are interested in issuing the “paper” on the home you are looking to buy or refinance. The word “paper” refers to mortgages that are created privately and registers at Land Titles Office (LTO). These are popular investment vehicles, because their basis is real estate rather than a stock or bond, which means that the rate of return is much more reliable and the borrower is able to obtain a loan that they may not have otherwise been able to obtain.

How to do a private mortgage

There are 4 factors that influence the marketability of a loan application: the term, the rate of interest, the ratio of loan to value (LTV) and the location.

When assembling the mortgage application, a private mortgage lender wants a short term and a generous yield and interest rate. Private Lenders generally do not want to exceed 12 months, but at times will go up to 3 years or more. In many cases, private lenders will arrange loans over 12 months with an option to renew with a good payment history. Some lenders will have renewal fees attached.

The right rate of interest combined with the right LTV, will be very appealing to a private mortgage lender; making it much easier for Mortgage Investment Corporations (MICS) to satisfy their investor partners, especially if it is a private first mortgage.

Because the ratio of the loan (LTV) is so important, an appraisal by an accredited company is crucial. Be careful when choosing a company; because some private lenders have a designated list of approved & trusted appraisers, contact a mortgage broker and discuss the details of your loan plans.

Private Lenders love to invest in larger cities compared to smaller towns, but no matter where the property is located, if the loan to value ratio isn’t too high then a good broker should be able to place the mortgage loan with someone. For example, a 75% LTV in a major city is more attractive than a 75% LTV property in a rural location. The equity position may be the same, but the likelihood of selling a property in a urban center is much better simply due to the population density. Private Lenders must always consider worse case scenario because the loans provided are higher risk. Borrowers have the right intention, but things happen; so if a lender must foreclose they would prefer a property that can be sold quickly and easily.

5 Tips To A Profitable Real Estate Investment

real-estate-investment

Whether you are buying or selling a property, you want to get good returns. Here are some real estate tips to determine which property is worthy of your investment:

Tip #1: Study local price trends.

You should start with the current price trends in the area where you are about to purchase a property. Is the price of homes accelerating faster compared to other areas? How does the average home price differ from neighbouring towns? This knowledge is very important in order to buy properties at the lowest price possible. Your best source for recent sale prices could be local newspaper, the internet, realtors, and real estate agents.

Tip #2: Look for signs of growth.

It is profitable to invest in a growing community. If you spot new developments, this means that a property will be desirable in the future. Are there new schools, roads, shopping centres or other infrastructures being built in the area? You can take a drive and explore the place to know all these things. You may want to visit town hall to get an idea of the major projects which are about to begin in the area.

Tip #3: Know your tax alternatives.

Normally low property taxes will be more in demand. If you are not sure about tax structures, you can seek advice from your trusted agent. Another option is to visit the local tax assessor and ask how much the tax charge is. Be prepared especially if the town is eyeing to accommodate people. Property taxes may go up as there will be reassessment in the future.

Tip #4: Check rankings of schools in the area.

Good schools are desirable to parents as they can provide their children quality education. This is a big selling point to property buyers. It is for this reason that most investors should look for schools that are moving up the rank. You can check some education website to find out how the school in your prospective area is performing. Alternatively, you can visit the school to get needed information.

Tip #5: Watch areas in close proximity to major cities and towns.

Properties near major cities and towns will soon be in demand. Watch the outskirts. The areas where transportation is accessible are even more desirable and would likely to increase their value over time.

 

3 Factors To Consider When Buying Land

buying-land

Land is very important in real estate. When buying land to construct a house you need to consider a number of factors. Some of these factors include:

Zoning Requirements

Here you need to check with the local authorities and determine the zoning ordinances. You should also find out if you are allowed to construct the type of house that you have in mind. The future is very important; therefore, you should ask whether there are plans to improve the infrastructure in the area. For example, you should enquire whether there are plans of constructing airports and shopping centers.

Natural Hazards

You should contact the authority in the area and obtain a natural hazard disclosure. The disclosure will tell if the land is ideal for building. As rule of thumb you should stay away from a land that is prone to natural hazards.

When determining the natural hazards in the area you should also find the elevation of the land. If the land is located near a hill you should determine the chances of the land moving. Remember that the slab of your house can easily crack if the land is unstable.

If the land is good, but near water bodies you should consider constructing your building using a raised foundation. You should also ensure that you get flood insurance.

Utilities

For you to live a comfortable life you need to have utilities in your home. One of the most important utilities you should have is water. Remember that you can’t dig wells in some areas. To be on the safe side you should determine the depth of your water table and find out how difficult it is to dig a well.

Electricity is also very important. If the area doesn’t have power you should determine how expensive it will be to bring it to your home.

You should also consider the sanitation in the area. If you can’t hook up to a sewer you should do your calculations and find out how costly it will be to install a septic system.

Looking For A Condominium? Things To Consider

condominium

Condominiums are designed to be comfortable and luxurious. A good number of people prefer condos over other accommodation. Some will even consider buying condos over buying single homes and other kinds of properties. Luckily, there are so many condominium options today and you can find them in different areas. Whether you are looking to rent a condo for a short stay or a long stay with the possibilities of buying at the end, there are things you must give attention to. They will ensure you get the best condo to make your life enjoyable and convenient.

The Condo Location

This must be considered as it can determine how peaceful your living will be. Whereas there are people who love condos that are centrally located in urban areas, others would rather choose those that are further away from areas with plenty of activities. Consider the location in terms of transport convenience to your place of work and other important facilities.

The Property Size

Apart from choosing a condo unit that is just right for you and your family, you might find it helpful to also look at the size of the entire property. It will determine the number of tenants there will be and hence the number of neighbors you will have in the end. If you love your peace and quiet, smaller properties will work well for you, but if you don’t mind tens of neighbors then larger properties should be just fine.

The Condo Facilities

They will determine the amount of fun and convenience you can enjoy from the property without having to leave. Remember that even though you will have your own private unit, you will end up sharing most of the other facilities. They can include gym, parking area, swimming pool and playground. Relate your individual preferences as far as activities are concerned, so you can choose a condominium with all facilities that are relevant to you. You should also consider children’s activities if you have a family.

The Neighborhood

Even though you will have several of the facilities you need to make life enjoyable within the property, not everything will be available. It makes it important to consider the neighborhood in terms of nearby important establishments. For instance, consider nearby schools if you have children, nearby places of worship, medical establishments, shopping areas and food stores. A property that has everything within proximity will always be a better choice because it will serve you even during emergencies.

The Security

It cannot be taken for granted when looking for a condo or any other property. Some condos have the security taken care of complete with guards and CCTV. Look at all security features put in place to ensure your safety. It should also be helpful to consider how safe the neighborhood is to avoid ugly instances as you find your way into the property. You will only find it possible to enjoy the condo when you are least worried about your safety and security.

Constructing The Best Houses Requires Ideal Architects In The Locality

architecht

Knowing novel trends in architecture:

There is an old adage that the home of the individuals is as good as their fortresses. It is told for a good reason, since the residence is one of the most important fundamental needs of each individual. There are so many things that the persons would benefit if they are able to get the best homes. So, if possible, those who do not have their own homes nor have inherited should get a piece of land and construct their dream homes with the help of the best architects, who are capable of designing and delivering the ideal ones. The best features and amenities that are added as part of the homes will improve the quality of the personal lives of every single member in the family. It would also improve upon the impressions that are created in the minds of other individuals as well. Persons who tend to pay a visit to the homes would be assessing the interiors and exteriors of the homes to know the socioeconomic status of the families.

Drawing inspirations:

Various elements of nature and the things around the humans have been the inspirations for them to construct their homes. When it comes to living in the major part of the cities or even in the outskirts, the decent home, either as individual or as apartments would mean a lot to the individuals. Hiring the architects would enable the owners to state their needs about the various spaces that are included in their homes and ensure that they are able to live happily ever after with their family members for ages.

Creating marvels:

When it comes to designing the homes for the families, this is something that is going to serve them for several generations to come. Therefore, by choosing the best architects, it is easy for the owners to make sure that they have the ideal homes that would stay with their families for many decades, if not centuries. The architectural designs can be transformed by the creative minds into the structural marvels that can enrich the way of the livelihoods of the persons. Those who tend to have their homes constructed like the marvels would be able to become the proud owners and have total peace of mind as well. People would enjoy living in these spaces and their domestic peace will resonate as their successful lives as well.