Eliminating Risks (Part 4)

August 28th, 2015

As mentioned earlier, your seller’s agent must be someone with credible reputation. He or she must be a professional who is experienced in such matter. The ones you choose would become your tour guides. They will show you the gory details of the property. Defects and strong points should be acknowledged. Even the smallest matters should not be overlooked.

Find someone who doesn’t hide the defects of the property and someone who doesn’t hesitate to honestly answer your every question. This would be better to avoid the risk of getting scammed. It is better to make sure about this important venture-investment.



Tax benefits of real estate investment

August 21st, 2015

49.jpg

There are many different types of investment real estate: rental houses, apartments, vacant land, commercial buildings, industrial, shopping centers or warehouses.

They all offer big tax incentives for investors who understand those benefits.

Many people believe that depreciation is the best real estate tax deduction of all. The IRS REQUIRES real estate investors to depreciate their investment properties.

Depreciation is a “paper loss” required for estimated wear, tear and obsolescence.
However, land value is not depreciable. This applies to 100% of the money invested in buying vacant land and that part of the property value apportioned to land on an improved property. (That is, land with a building on it).

Condominiums do not have a land element and 100% of the purchase price can be depreciated.

Residential income property is depreciated over 27.5 years on a straight-line basis.

Commercial property is depreciated over 39 years, also on a straight-line basis.

Source



Costs to Selling your House

August 14th, 2015


Image Source:propertychoices4u.com

Selling your house is not as easy as one, two, three. Being a seller entails expenses too, that is why no one can readily answer when the question: what expenses do I need to shoulder when selling my house? is asked. A lot of factors come into play to be able to arrive at a definite figure. Here are a few costs to help you figure it out.
Before sales upgrading, maintenance and cosmetic costs. Go over all those essential things that need to be done to increase the value of your house. The price bracket of expenditures here is rather endless and it would help to ask yourself the following questions:

  • Are there structural changes that must really be done? What further repairs will the home inspection uncover, and what do you and your broker think this/these will do to your asking price? The price of these sorts of small projects could be high and will take time to accomplish but it could also mean a higher sale price than what you paid for them.
  • What kinds of budget priced upgrading can you do that will bring a warm glow to your potential buyer’s face? Renovating the kitchen or a bathroom could probably do that.
  • What aesthetic changes can you make yourself or at a minimal expense? Some minor landscaping, planting a flower or bush in your yard could enhance your frontage or repainting a room are some of those changes you can do.
  • Lastly, you could try “staging” your house. Staging is paying a professional company to set up your home( accessories, furniture, window treatments, etc.) and display it with its “best foot forward” – meaning the company will showcase your house’ best features and downplay its flaws.

However, the expense for these types of upgrading could range from a hundred dollars to thousands of dollars. Be pragmatic about what your house really needs and be sensible in your expenditures.

  • Transaction Costs. What expenses will I shoulder as the seller in the course of selling my house? Before sales upgrading definitely comes from the seller’s pocket while most of these transactional costs will be deducted from the proceeds of your sale.
  • Real estate fees and commissions could be anywhere between 5% – 7% of the sale price and is normally handled by then one processing the closing.There could still be other discounts in this which means lesser expenses for you. This expense is sometimes split between the buy side agent and the sell side agent, and you make out the check to the real estate brokerage company where these agents works.

There are still other costs involved when you sell your house.



Why Buy “Beater” Homes

August 7th, 2015

null
When searching for a home, you should not buy the most expensive in the block, but instead buy “beater” homes. For example, in homes costing $300,000, you can probably get a cosmetically unattractive home for low price of $230,000. Then with a little improvement like landscaping for $1,000, painting for $5,000, and fixing cracks for $10,000, you already have a $300,000 home value, which you have only paid for $246,000 including improvements.

Words of caution though, buy the house only if the problems are cosmetic. If the home has foundation problems or termite problems, it is not worth it to repair those because it will cost a lot of money.



The Rise Of Micro Apartments

July 31st, 2015

It started in Asia where people are everywhere, places are always crowded and space is limited. Micro-Apartments has existed and was already popular in Tokyo and Hong Kong for awhile now and it seems like the trend has also reached the United States. Last January 22nd, New York City Mayor Bloomberg waved the zoning restrictions on new apartments to be larger than 400 square feet. This gave way to the building of 55 units the size of 250 square-feet. The rent for these micro units are also going to be affordable starting at $973 a month. San Francisco and Philadelphia are also now following suit with the rise of new teeny tiny apartments for an affordable price.

Micro Apartments are built in a way that all the space inside are used and needed. Like a regular home, it would include a dining area, living room area, kitchen and bed. Dividers are used and placed strategically to maximize the space.



Best Cities in The World

July 24th, 2015

There are so many cities in the world and all of them have so much character but only a few that are actually great to live in. What makes a city a good place to live in? It should be safe, not over populated, good community, etc. So if you are trying to look for the best city to settle down in, here’s a list of the top 5 best cities in the world.

1. Vienna, Austria- This city is on the top because of it’s best quality of living. There are so many cultural activities available, clean environment, good public transportation. The only downside is that rent is expensive.

2. Zurich,Switzerland- This beautiful city is doing well financially. There are number of good and stable jobs available. Great healthcare system and public transportation.

3.  Aukland, New Zealand- The quiet city is known for having low crime rates and great public service officers.

4. Munich, Germany- popular with the expats, this place is where a lot of foreigners want to move to. It is financially stable and people are not worried about keeping their jobs.

5. Vancouver, Canada-



Government Grants for First-Time Home Buyers

July 17th, 2015


Image source:www.ronsaari.com
The American Dream Down Payment Act authorizes $200 million in grant aid for each of the coming four years to low-income, first-time home buyers. It certainly is a dream come true for many people who have harbored the fantasy of buying a home but were not able to get the cash for it.It is a joint government and banking program to help people put together that initial down payment which is crucial in buying a home. Such ventures also uplift the economy of the country, when loans are more accessible to people and first time home buyers.

Interest rates are hitting an all-time low, and assistance professionals are urging you to come forward and avail of this opportunity. Not only do these grants help in that down payment, but also are tremendously useful when closing the mortgage. The sooner you pay it off, the better. Even bad credit doesn’t go against you if you are a first-time home buyer, in the sense that you haven?t had housing ownership in your name within the last three years.



Properties Sell – Somewhat?

July 10th, 2015

Properties sell and they sell really good, especially when prices have almost been halved or a mere fraction of the first time they were listed for sale. This is a common case in today’s fragile housing market that has been utterly un-natural in terms of trending and predictions, breaking them all rendering them quite useless.
People have long been seeking better process for their homes have lost hope of getting the best deals they can whether selling or buying. It seems we’ll simply have to await the end to the unstable market conditions that have all but broken previous trending information that says it would be a short wait.



Coral Springs Real Estate

July 3rd, 2015

nullThis city is located in Broward County, Florida, and is a very economically thriving and vibrant community with a population of over 140,000 residents.

This area was once a simple bedroom community for the nearby Fort Lauderdale, but with the expansion of the Sawgrass Expressway in the city’s northern and western boundaries, along with the opening of I-95 highways and Turnpike in the east and middle of the city, this area has since then been more appealing to newcomers or visitors alike. This city is famous for its superb educational facilities, low crime rates, and lots of healthy parks and green spaces.



Selling Your Home in Sarasota (Part 1)

June 26th, 2015

nullBefore selling your home in Sarasota Real Estate, you have to do some improvements to make your home appealing to buyers. Here are some tips to attract buyers to your home:

1. Inspecting your home thoroughly is very much needed. Check if there are damages that need to be fixed. Look at the faucets, sink, switches, and so on. Make sure that all of these are functioning well. You also have to make it clean so that buyers can already envision living in your home.
2. The first thing that buyers usually see is the yard. You always need to create a good first impression. Make your yard beautiful and attractive by planting some potted plants or flowers.