Posts Tagged ‘Real Estate’
Real estate marketing tips for the real estate agents
The real estate market including buying and selling homes, and so on has always been and is always a competitive one. Thus, as a real estate agent you need to follow some marketing strategies. It can help you to be a successful real estate agent. For that, you will have to devote a specific amount of time to networking.
Marketing tips for real estate agents
Some of the marketing tips for the real estate and refinance agents are discussed below:
1. Create a business plan – Making money as a real estate agent is like starting your own business. Thus, you need to formulate your own plan as per your affordability and your real estate skills. It is true that the very thought of developing your own business plan can be overwhelming and confusing. But you can try to formulate one. However, if you face problems you can go to a professional business planner for help. Even the Small Business Administration offers information that can help you to develop your business plan.
2. Research on your state requirements – It is also essential for you to research on your state requirements, the laws on real estate related things, state requirements for real estate licensing, the condition of real estate market in your state and the current mortgage rates.
3. Try community publications – One of the most preferable ways to market your services as a real estate agent is publishing your business cards in the various community publications. You can contact the church in your area or community organisations for publishing your business cards. Try to publish about your services with those publications which have the highest number of readers.
4. Join National Association of Realtors – You can also join the National Association of Realtors to augment your marketing campaigns. If you join the National Association of Realtors, you may be able to get the access to the numerous marketing tools especially for the new and also established real estate agents. There are start up kits for the new agents and there are also mentors who can help you with your marketing campaigns.
5. Try door to door campaigns – You can also market your real estate services by visiting the people in your neighbourhood. If you are a new agent, you may find your first client from amongst your neighbours.
6. Use social networking – You can also use the social networking sites to market your real estate business. It is the process of free online marketing. There are numerous social networking sites like the Facebook, Tweeter, Linkedin, and many others.
You can improve your skills as a real estate agent by helping the clients in the real estate or refinance transactions and the associated paperwork’s.
Samantha Taylor is the Community Mentor of MortgageFit and has been contributing her suggestions to the Community since 2005. Not just that, she has also made notable contributions through the various articles written on different subjects related to the mortgage industry. Few of her popular articles would include names like ‘, ‘Mobile Home Loan with Bad Credit’, and How much mortgage can I borrow?’
From Rentals to Riches: 5 things to consider before investing in rental property
The housing market is still rocky in a lot of areas, but with real estate buy-in prices at an all time low, 2011 is looking like a good year to invest in rental properties.
Like so many other Americans, I spend a large portion of my daily commute listening to NPR and dreaming of a day when I’m my own boss, make my own hours and don’t have to show up every morning promptly at 9am.
Occasionally NPR aids and abets those fantasies as it did one morning last week by running a story on mortgage defaults and foreclosures. In December 2010 the number of houses that had received at least one foreclosure notice was the lowest it had been in 30 months, down a full 26.3 percent from December 2009. But that wasn’t the full story.
The reason why foreclosures were down was because the average time-window between mortgage defaults and foreclosure has grown to 400 days. Allegations were made that lenders were handling evictions improperly causing the federal government to monitor the process far more closely. This extra level of review meant that the banks themselves proceeded far more cautiously, slowing the entire process down.
But with five million borrowers behind on their house payments by two months or more, foreclosures are expected to reach a peak of 1.2 million according to RealtyTrac Inc, the leading online marketplace of foreclosure properties. And when this backlog of houses hits the market, they will be offered at rock bottom prices.
This glut of low-cost housing is having two effects on the market.
- First, many potential buyers, for whom real estate is not an investment but a place to call home, are deferring their house purchases in the expectation that currently low prices will dip even lower in the future. In the interim, these people are renting.
- Second, there are many great opportunities for real-estate investors taking advantage of the renting trend to pick up rental properties. While the average rate on mortgage loans is not as low as it has been at other points in the past few years, it is still quite low – sweetening the deal for prospective real estate investors even more.
Like many others, I dream of becoming a real estate tycoon. Low interest rates and low housing costs make this an ideal time to invest in rental properties. Flipping houses? Not so much. You’ll still have to compete with all those foreclosures dragging down the market for a while. Rental properties, on the other hand, can start to provide a stream of income for the savvy buyer whose willing to invest the time into managing properties.
But rental properties can be a stable source of income but like all investments, there’s an element of risk involved and it’s critically important to anticipate those risks in advance. Before I complete those loan applications and send them out via expedited shipping to my bank, there are five things that I need to consider – and I would advise anyone who’s thinking of pursuing the real estate investment track to do the same.
No. 1- Not All Investment Properties Are Equal
A prospective real estate investor is well advised to formulate a clear real estate investment strategy before he or she begins acquiring properties. Is he or she interested in buying apartment buildings, houses or commercial properties? Or perhaps he or she is interested in buying land and then developing it for rental use? In addition to one’s personal preferences, the current market must be evaluated very carefully when formulating a real estate investment strategy. Right now the commercial rental market and development market are still both depressed; unless a prospective investor is prepared to deal with challenging market-conditions, that might be a reason to steer away from both.
No. 2-What To Expect In Annual Income
Some experts argue that the amount a landlord charges for rent should be a fixed one percent of the property’s value. Really, however, there are no rules here. Rent must be competitive with rents charged on similar properties in the same neighborhood or else the landlord will have difficulties renting the property, but in order to earn a profit annual rent must exceed the annual operating expenses associated with the property. Other landlords and rental management firms can provide
No. 3-What To Expect In Annual Expenses
Rental properties can anticipate two types of annual expenses: fixed expenses and variable expenses.
Fixed expenses include the mortgage payments on the property, property insurance, property taxes and routine maintenance and upkeep. If a landlord chooses to outsource property management, these expenses also need to be counted.
Variable expenses might include replacement costs for various items and systems that wear out over time such as roofs, water heaters, plumbing pipes and flooring.
No. 4-Additional Sources of Expense
The wise prospective landlord will make a contingency plan dealing with unanticipated expenses should they occur. Examples of such expenses include:
• Lowered return due to property sitting empty between renters
• Legal expenses associated with eviction
• Repair expenses associated with tenant damage to property
No. 5-Where To Buy
A rental property’s location determines how much a landlord can charge for rent, the type of tenants a property will attract and the average length of vacancies between tenants.
For example: If the ideal tenant in a landlord’s mind is a young urban professional, then that landlord will buy in a neighborhood with plenty of restaurants, stores that provide expedited shipping and serve as outsourced offices, and other services this demographic group uses heavily. The landlord can look forward to a relatively stable tenant base, but longer vacancies when the tenants do leave and more demand for maintenance and upkeep-related activities.
If, on the other, a landlord buys property close to a university or other institution of higher learning, the landlord can expect frequent turn-over as many students leave for the summer but shorter vacancies as there will be high demand for rentals within close proximity to the school.
One last point to make before closing: buy close to home. If you’re looking at setting up a mini-empire of properties helmed by you—a single-owner—think twice about doing it if you’re not sure that you’ll be staying in the area where you’re investing. If you wind up living far away from properties that you own, domestic shipping and plane tickets—even at all time low rates— tend to add up and cut into your profits. You always want to be able to check up on your properties, and it’s expensive to farm out the duties of a property manager to a contractor.
Remember: a house divided against itself cannot stand. And a landlord separated from his properties will tend to find himself in a tight-spot when the rent comes due.
You Are Known By Where You Live
There is a saying that you are known by the company you keep and it is very true that you are also known by where you stay. Meaning, your address speaks for you, the place where you stay says it all, and this is the happening here and now.
Elite homes and luxury living has now set in a new trend in Coimbatore homes and with the influx of modern construction technology there has been an escalation in the construction industry with professional players putting in their imprints. Most of the designer homes have been built around people and their individual tastes and cost a fortune. Lavish inputs and embellishments make these stand apart homes a pride of possession.
Rosewood and ebony beams adorn the homes and add to the beauty, diffused lighting brings in the nuances and the soft colors bring in the magic, and the floors and wall speak volumes of your unique tastes. Every room has its own culture and story, its own architecture that reflects your own ancestry. It is a fine blend of the tradition and the modern and the very legacy you want to leave behind.
The fusion of glass, metal and craft seamlessly transports you into the sublime of your home and whether it is the modular kitchen, or the master bedroom or the living room, it is an exclusive experience. The dining room is the place where you feast on ambrosia and the nectar of life. The dining table is the cynosure of every eye and the furniture in the household is handpicked and originates from various destinations of the world.
The bathrooms are glamour rooms and show off faucets, mirrors, floral wall and floor tiles decorate your moods, and shower your senses, and soak you with indulgences that you crave for. The living room adds value to your life and makes it worth the living. Your guest should also take back with them a piece of your living room. Antiques, rare furniture, paintings rugs and window dressing endow a lavish look to the surroundings.
The bedroom gives you the hard day’s night and caresses you with the well deserved rest and lulls you into peaceful sleep. The ornate roof, the bedstead, the curtains soothes you and the very ambience refreshes you for the day ahead.
To put it in a nutshell, your home is filled with love that spells music to your soul!
Your search for apartments in Coimbatore has been made easier and more fruitful with the establishment of the fine constructions brought to you by the leading builders in Coimbatore. The choice of location is close to nature, but well within the city’s limits and the concept of the homes fructify your every small desire. The neighborhood provides you all amenities like hospitals, banks, shopping malls, educational institutions and the very address speaks about the class. It is a community living that exudes an ambiance which gives you all the joys of living. Right House gives you all this at an affordable price- a right price for the right house!
Add more Space to your Property and Build a Roof Terrace
Extra space is top of the list for most home owners when asked what they would do to improve their property. The fact is, while most people would love to have more space, most people just cannot afford it. If you lack that much needed space, maybe a roof terrace could be the answer!
So what do you need to know about building a roof terrace? We’ve put together a quick guide to help you decide if your property has the potential for a roof terrace and how much it may cost.
Can my roof be converted into a terrace?
A roof terrace can be a potential viable addition to your property if you have an outside space that is reinforced or can be reinforced, a window that could be switched with a door, or loft space where you can create an access point to the roof.
What if I haven’t got a flat roof?
There is no doubt that if you have an existing flat roof, creating a roof terrace is going to be a lot easier. However, just because you haven’t got a flat roof this shouldn’t signal the end the idea of creating some additional outside space.
If you have a pitched roof there are still options. A flat surface can be create by building up an external wall or an inverted dormer can be fitted where a section of the roof is removed to create a recessed sliding French door onto a small outside space (the distance from the edge of the pitch roof to the sliding door).
How big does it have to be?
The amount of space can sometimes be dependent upon privacy issues. If your proposed roof terrace directly overlooks a neighbors patio space or bedroom this is likely to prove to be a problem. You will probably need to establish the boundary line, which is the minimum distance between your terrace and the neighbor property. Screening can be erected to provide privacy for yourself and to your neighbors.
How much will my roof terrace cost?
You will probably look at spending $10,500 upward to build a roof terrace. Depending on what is required to build your terrace and the size of it will ultimately dictate how much you will have to pay. Remember though, roof terraces are seen to achieve at least 100 percent cost recovery in most cases so it is a well worth while addition to your property.
Before you begin..
It is vital that before you undertake any work you have an architect look at your property and assess if you need to apply for planning permission. It is also important to note that even if you do not require planning consent, to inform the neighbors of what you are setting out to do. Making this good will gesture will reduce the likely hood of any future complaints.
Time to accessorize your roof terrace
Planting: Pot your plants and shrubs in lightweight plastic tubs. This will minimize the weight on the roof while still having good water retention. As most roof terraces are generally exposed to the wind and the sun this should be taken into consideration when choosing which plants to buy. Go for plants that can survive in relatively dry conditions. Grasses and bamboo work well in windy exposed terraces whereas Mediterranean plants can work well in more sheltered terraces.
Furniture: Chose lightweight furniture that is durable to the outside elements. Assemble them on the terrace if they are flatpack.
About the author
This article was written by Andrew Potter. Andrew is director of one of the UK’s leading online estate agents, My Online estate Agent.
Military Towns Give Real Estate Market Great Opportunities for Investment
Quality real estate investment opportunities are highly prized and sought after in an economy wracked with years of disappointing losses and staggering foreclosures. At one time, the real estate market seemed to be a safe haven for investors, but it has become an increasingly risky proposition. It’s important to point out that real estate investment is not a foregone option. There is potential is certain markets of the housing industry, such as military towns, especially when you take into account the economic assistance and aid provided by the government for active and inactive service members, such as VA home loans.
An article released in 2010 by USA Today reported on the growing trend of military towns. The article attributed the rapidly rising pay and benefits of those in the armed forces community, and the necessity of these towns to meet demand. There benefits have provided a growing demand for quality housing and have fostered a nationwide boom to produce some of the country’s most affluent communities. The article explains that, Jacksonville, N.C. is now the nations 32nd highest city for income per person, which is up from 2000 when it was ranked at 287th. This is not the only example of community transformation, and these huge gains have drawn a lot of attention, in the face of such a bleak economy still in recovery.
Returning veterans from the wars in Iraq and Afghanistan, which has been a relative bright spot for many investors, has bolstered this boom. Bank of America recently announced the Mortgage Modification Program (MMP) designed for military professionals intending to help potential buyers or help current owners keep their homes. For some cases, this program will allow for principal forgiveness for burrowers struggling with their monthly payments. Terry Laughlin, a Bank of America executive, recently announced at an investor’s conference that MMP may lead to further assistance of non-military personnel out of fairness. This move may help the housing industry as a whole, which is a potential break for investors looking to revitalize a housing market in dire straits.
This news may foster a growth initiative throughout the overall economy with contractors, land developers, surety bonds, and even lenders. Many citizens hope it’s a sign that stable times may be on the way. As we have seen, the housing market is an indicator of the overall health of our economy, since it affects many other markets. The country saw as the housing market collapsed that a chain reaction was started through the economy. The idea is that, with real estate investing and improved home sales, the country gets back on solid ground.
The demand for quality housing is projected to only increase in the coming years, which has investors excited and such promising growth potential. As the military continues to grow and surpass its recruiting goals, real estate and housing needs are only going to intensify in the years to come. Only time will tell but the numbers look promising.
This is a guest post by Kevin Kaiser of Military Homes, a place to connect military homebuyers and sellers.
