UK FirstTime House Buyers Feeling Over Stretched

The population of Britain is renowned across Europe as a nation of fanatical home owners. While members of other countries are content to rent their home rather than take on the burden of actual ownership and long-term financial debt, people in the UK seem fixated with the idea of buying and owning their home. Unfortunately for the thousands of current prospective first-time home buyers, the soaring levels of house prices in recent years has made it increasingly difficult to get into the first rung of the property ladder. As the value of houses at all levels increases, the number of first-time buyers who are having to borrow the full value or more of their property, or rely on more financially secure friends and relatives to stand any chance of buying a home, has also increased.

According to a recent report by the Post Office, there are currently many first-time buyers who have become so overstretched through their borrowing that they now stand the risk of losing their homes within the next six months. According to Claire Oldstein from the Post Office: First-time buyers tend to overstretch themselves, but need to consider what they would do if they lost their income.

?One in three first-time buyers accepts that their household costs are higher than they had anticipated and 45 per cent do not have any insurance against loss of income resulting from accident, sickness of unemployment.?

While the major mortgage lenders like the Woolwich mortgages, understand that the introduction of first-time buyers is essential to keep the housing market from becoming stagnant, making it essential that many first-time buyer mortgages include incentives such as introductory reduced fixed rate interest periods, to help buyers regain their secure financial footing, this does not address the fundamental problem of increased borrowing.

First-time buyers are becoming more wary over the disparity between wages and the size of the debts accrued through taking out long-term mortgage loans. A study by the National Association of Estate Agents, indicated that only 12% of all houses sold last year were bought by first-timers, compared with nearly a third in 2000.

Mortgage comparison services like Moneynet and special introductory rates can help to ensure buyers get a better deal, but as the average length of time take to save up the deposit for a new house increases, and with it the average age of all first-time buyers, it is evident that the burden being felt is starting to weigh heavily on the already financially stretched resources of young house hunters.

Claire Oldstein warned that, It's unlikely they will have a big enough rainy day fund to rely on especially after pulling together a deposit. Protecting yourself may seem another unwelcome expense but it could actually be money well spent should the unexpected happen.?

Submitted by:
Michael Hanna

About Michael
Michael is a keen writer, and internet marketer living in Scotland:

Contact details:
E-mail: samqam@googlemail.com
Phone: 0131 561 2251
Michael's Website: Belfast Taxi

Real Estate Agents Evolution of The Shark

Or survival of the most dishonest

Real Estate agents are regarded poorly by the general public. To be fair, there are many conditions that impact on a real estate agent. These impacts can either spit them straight out of the industry or have them evolve into sharks. In many cases it becomes survival of the most dishonest.

Now before all the trustworthy hard working real estate agents groan and moan, about another person giving their industry a hard time, please read on. I believe it is the system in many cases that is broken, and it is that system which shapes many a real estate agent into that predatory shark.

Firstly, becoming a real estate agent isn?t difficult. Most states within Australia have a real estate institute where you can complete a course in under a week. (I completed my course by distance learning in one night and I am no mental giant. The before mentioned groaning agents are really agreeing with me now!)

In the US you can complete a course online and be accredited. All it costs is $99 US.

We are talking a very easy entry point to become a real estate agent.

Now that you are a real estate agent ? with your suitable qualifications, you expect people to trust you with their single most expensive asset, typically their home! Sounds a little bit out of whack right from the start doesn?t it?

Now from an external point of view, real estate looks like a pot of gold. Commission rates of between 2.5% to 3.0% to sell a house. A property worth $500,000 represents a commission of approximately $12,500 to $15,000.

?WOW, I should be able to do one of them each week and earn $650,000 per year. Finally an industry that pays me what I am worth.?

And thus the evolutionary cycle begins. You have an easy entry and the prospect of a huge amount of money. Sounds damn perfect. In fact so perfect it attracts a huge amount of willing entrants with that simple view. Most may I say have the full intention of doing real estate far better than what they have experienced when dealing with real estate agents themselves. Ahhh the noblest of intentions.

The problem is, it attracts far too many people.

Now we have a vast amount of agents all vying for that property sale. The industry cannot support all the agents that are working within it. People rush to enter this industry and there simply is not enough property sales or money to go around.

Now we have the 2nd most critical issue in the evolutionary cycle from person with best intentions to shark real estate agent. COMMISSION ONLY.

Most agents are on commission only. This means they only get paid when they make a sale.

Any agent competing against a vast number of agents for any one property sale, if they don?t say the right things, they won?t get the job. Which means they don?t get paid. It means agents learn to say what ever it takes to get that property listed for sale and then whatever it takes to get it sold. It ?s the only way they get paid. It?s survival of the most dishonest, because many times, potential buyers and sellers really don?t want to hear the truth.

Yes, I can hear Jack Nicholson bellow out to all buyers and sellers??You can?t handle the truth?

Typically agents will say the property is worth more to the owners. This way they will have those owners sign up with them. Because most owners like to think their property is worth more. It?s a simple human trait called greed. (Michael Douglas just stepped in and added his line ?Greed is Good?)

But for the real estate agent it?s a simple numbers game. The more properties they have for sale the better the chances they will make a sale and therefore get paid.

Guess what comes next? Agents learn that it is far easier to sell something cheap. Everyone wants to buy a bargain so the agent pursues a process of marketing the property with such clich?s as ?marriage bust up?, ?owner desperate?. ?bank instructs to sell? and ?owner wants all offers?. They are simply aimed at attracting the most buyers with the lure ? BARGAIN BUYING. Now the poor owner at this stage is horrified at this approach, but the agent convinces them it is the way to attract the most interest. They should know - they completed a course within a week!

Conditioning follows, stage 3 in the evolutionary process. The agent will now try to get the owner to accept less for their property. The buyers won?t offer more ? because they are the bargain hunters, so the agent tells the owner with all sincerity ? this is all the market will offer. Cheap is easy to sell. The faster an agent can convince an owner to accept less the faster they get paid. This is largely the whole auction process. Auctions are designed by agents to get paid as fast as possible.

The sad thing about most of this is that the larger franchise groups have corporate training which promotes these processes as the best way to get a result for their clients. Many an agent is brainwashed with corporate training that simply focuses on evolution of the shark.

Now whilst all these activities are occurring, we have the 4th issue in the evolutionary process. VALUE FOR MONEY.

Buyers and sellers assess the agents? activities. Most buyers and sellers will have at least one unhappy experience with a real estate agent to describe. Yet they both know the agent is paid handsomely.

The owner has the added grief of being very aware, that they pay for the advertising, the sign, the internet, the brochure, which will attract the buyer that they then have to pay for again. Yes, that is exactly what occurs. Sounds quite stupid when you say it like that! The agent may throw it around they can organise a better sign or get a cheaper ad etc, but usually the owner is required to pay. They have training for this process as well. It?s called Vendor Paid Advertising.

Lets not even talk about agents suggesting they have better negotiation skills. They do, it has been finely honed by corporate training to get the owner to accept less and pay for all the advertising.

So, with all these processes in mind, the general public are very dubious about the honesty and integrity of any agent they deal with. The agents counter this with expressions such as ?Buyers are Liars? and ?Vendors are Benders?.

And the evolution is finished. You have a shark or you have someone leaving the industry. Survival of the most dishonest, well it would make for a funny reality tv show.

Da dum, Da Dum, Da Dum, I think I hear the agents circling my home right now.

Michael Eroz Property Analyst www.zeroagents.com.au

Real Estate Agent Courses

Online real estate courses are offered to potential and licensed real estate agents, real estate brokers, real estate appraisers and real estate investors. The online schools offer a wide range of services to their students, which include helping the students pass the licensing exams for each field. Different courses are offered to those who wish to become agents, brokers, appraisers and investors as each has its own specific areas of study.

Courses for Real Estate Agents

The major areas of study that the courses for real estate agents include License Laws, Real Estate Contracts and Law, Escrow, Finance, and the Principles and Practices of Real Estate Math. These courses are often delivered through various software, CDs and virtual tutorials that the online schools offer their students. These courses help the students have access to the most up to date state laws with regard to real estate in the areas where they wish to practice their profession and the most up to date techniques and skills that can help them help their future clients. The students also take exams on these modules as to assess their understanding of the different areas of their study.

Review for licensing exams and license renewal

In addition to the modules that these courses offer, one important service that these online schools provide their students are the reviews that the students can take to help them prepare for the State Real Estate Exams that they will take to become accredited agents. These reviews are often given to the students in the form of practice exams and supplementary reading that can help the student prepare for the exam.

Apart from offering their services to people who wish to become agents, courses are also offered to licensed real estate agents who need to renew their real estate agent licenses. Online real estate courses for agents provide high-quality, effective, and convenient classes to future realty agents, that not only give them the most up to date information on real estate but also the best preparation for the State Real Estate Exams.

Real Estate Courses provides detailed information on Online Real Estate Courses, Real Estate Agent Courses, Real Estate Appraisal Courses, Real Estate Broker Courses and more. Real Estate Courses is affiliated with Phoenix Real Estate Schools.

Displacement of Family Farms Eminent Domain and Fair Market Values Discussed

When important infrastructure in our nation must be built to ensure economic vitality, proper distribution or the basic needs of our civilization we must also be cognizant of the Displacement of Family Farms, Fair Market Values and the reality of the importance of the project too. Taking family farms even if you pay fair market value often causes chaos and conflicts.

Look at the depression, manipulation of the stock markets set up to capitalize American business and artificial money controls costs millions of families their land in foreclosures. You see, I do not disagree that displacement of family farms must be considered and those families be kept whole. So be it. That is fair. It is only fair that we replace the land in an area with similar soil, water availability and add to the land acreage to sweeten the pot.

We must consider this when building the thing whatever it is. Lets say it is expansion of a Freeway or Highway, indeed then make the road as straight as possible using a computer and looking at terrain and structures, like routing software can do, that keeps it fair. Some folks might have a greater burden, have a sliding scale to fairly compensate them.

If eminent domain is done correctly and for the right reasons then indeed, Folks will be begging to put it thru on their chunk of land so they can get paid and sell at a fair or above fair price during a downturn in real-estate. The increase to our civilization will more than pay the costs in the efficiency, increase in jobs, better standard of living, lower prices and quality of life. Efficiency has a way of doing that. The longer we wait the worse the issue.

Lance Winslow - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/

Kentucky Home Buying

Maybe you?re buying your first home in Kentucky, or perhaps you?re relocating to Kentucky from another state. Either way, it?s important that you educate yourself on Kentucky home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Kentucky:

The price of homes in Kentucky varies widely between zip codes. For example, in Louisville, Kentucky, the median price of a home in 2005 was $225,000; however, in Lexington, Kentucky, the median price of a home was $156,000. In 2004, the median home cost was for the entire state of Kentucky was $179,000. Additionally, in the last few years, average interest rates on home loans in Kentucky have been higher than the national average.

The rate of job growth in Kentucky is lower than the national rate, and the number of bankruptcies and foreclosures is higher than the national average. The rate of home appreciation in Kentucky is also lower than that of the nation. Homes in Kentucky appreciate at less than half of the rate of average national appreciation.

Kentucky is one of the many states that have enacted laws in order to counteract the rate of predatory lending. Kentucky?s high-cost home loan law subjects loans that are considered high-cost to certain regulations. High-cost loans include mortgages in which the total points and fees required to be paid by the borrower at closing exceed eight percent of the total loan amount and residential mortgages in which the APR exceeds the Treasuries securities rate by eight percent on first mortgages and ten percent on second mortgages.

Kentucky high-cost loan laws apply to purchase, refinancing, and second mortgages. Lenders may make high-cost home loans, but they must abide by certain restrictions. For example, lenders may not collect repayment penalties after the borrower has owned the home for three years, they may not create a repayment schedule that results in an increase in the principal amount owed, and they must reasonably believe that a borrower will be able to make the payments on their mortgage.

Because Kentucky officials are attempting to counteract predatory lending practices, the penalties of not abiding by Kentucky high-cost home loan laws are very strict.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Kentucky Mortgage Rates and Loans.

Minnesota Real Estate Listings

Minnesota real estate is considered to be some of the best in the Midwest. The following are some of the communities worth looking at.

Apple Valley, Minnesota, is home to over 40,000 people. Since the middle of the 20th century, over 11,000 homes have been constructed here and the number is growing. Every conceivable type of housing is available here, including single-family homes, town homes, apartments and housing parks. Apple Valley is situated 20 minutes from St. Paul or downtown Minneapolis, and is just 15 minutes from the twin cities? international airport.

Burnsville, Minnesota, is situated just 20 minutes from either downtown St. Paul or downtown Minneapolis. It offers easy access to the international airport. Burnsville has grown into a strong, balanced economic area, while maintaining its natural resources. It is home to award-winning schools and 1,700 acres of park land. The presence of lifecycle housing alternatives gives opportunities for people of all ages to feel at home in Burnsville.

Edina is one of Minnesota?s biggest suburbs and has many luxurious mansions. Still, there are many homes that go for less than $150,000. Also, there is an abundance of townhouses and condos. The average home price is close to $250,000. Edina is located in Hennepin County, and has two big medical centers, the world?s first indoor mall (Southdale), and nice city parks. It is 20 minutes from the Twin Cities International Airport and Lake Minnetonka.

Plymouth, Minnesota, is a rapidly growing community in the Minneapolis/St. Paul metropolitan area. Lakes, a park system and diverse housing stock attract a lot of new residents. Covering about 36 square miles, Plymouth is home to over 65,000 people. Insurance, light manufacturing, printing and publishing, high-tech research, telecommunications and computer-related industries are some of the biggest employers in the city. Average home prices are well above $200,000.

Vadnais Heights lies directly north of St. Paul. It has a population of nearly 13,000, which is soon expected to reach 16,000. Higher priced homes are being built in the city's northern tier. The average home price hovers around $170,000. Two stunning lakes, East Lake Vadnais and West Lake Vadnais, make this place a special suburb. In fact, the two lakes take about 25 percent of the city's land.

Minnesota Real Estate provides detailed information on Minnesota Real Estate, Minnesota Real Estate Listings, Minnesota Commercial Real Estate, Real Estate Agents in Minnesota and more. Minnesota Real Estate is affiliated with Sarasota Real Estate Marketing.

Quick Tips To Finding A New Rental Home

Before the Journey:

Know what your looking for! Spend 5 minutes and write down a short shopping list of what exactly you need and want. Are you looking for hardwood floors, dishwasher, Washer/Dryer, Fireplace? Try and separate your list from needs and wants. Cover all your needs first. Anything left over would be an added bonus.

Be prepared!

You?ll first view the unit. If you want to be accepted into a particular unit, why not look your best? Bring your own pen, Resume, Credit Check, Pay Stubs or Tax Returns, References and proper identification ready. Some units also require your license plate number. Most people don?t come to a viewing with that much information. The landlord or property manager will know you?re a dedicated and responsible individual by your actions.

Your References!

So many times this office has contacted references that were caught off guard. When you add someone as you reference, make sure they know they?re your references!

On the Hunt:

Daytime! Everyone is different. However, we?ve had the most success with showing rental units during the daylight. In the daylight you?ll have a better understanding of the defects and what exactly the place has to offer.

The Tour!

Do you like the place? Why not see what kind of water pressure it has. How many electrical outlets are there? Open up the closet and just see if you have enough space for your items. How?s the Neighbors! Don?t be afraid to knock on the doors and meet them. You?ll want to make a friend but also make note of important character factors. If you like to enjoy having a quiet home. Ask the landlord if they have had any problems with regards to noise volume.

Will It Fit?

You might have a larger sized couch or kitchen table. When your in your possible place, you should see if your kitchen table will fit in the appropriate area.

Close the Deal:

Be prepared! We already talked about being prepared. But just as a re-cap. Bring your own pen, Resume, Credit Check, Pay Stubs or Tax Returns, References and proper identification ready. Some units also require your license plate number.

Your Lease!

What are the utilites included and what are YOU responsible for? Can you have your cat, dog, bird, fish? What is the security deposit? And will there be mandatory charges such as carpet cleaning when you decided to move?

We hope our basic list has helped guide you through the basics of renting a home, apartment or vacation rental. Remember to try and view as many places as possible. You?ll have a good idea of what your money will get you with the more units you view. Happy hunting!

Shane Toews is a Licensed Realtor who helps others to educate themselves on current real estate issues. He also provides assistance on how to locate quality homes, apartments or vacation rentals in Canada's Fraser Valley area. Visit his website RentFraserValley.com for more information on Canada's Fraser Valley Real Estate Market

Spending My Weekend at the Sea Side Researching Property

This last weekend I spend at the seaside. What I enjoy doing in my free time is walking around looking at property for sale. I take mental notes on when each property comes on the market. Also I note the ones that have been sitting around for a long time.

One thing that always comes to mind is why a property is for sale and also why is hasn?t sold yet. Is the property in a good location? Has it been presented properly? Is it priced to sell? Etc. As a real estate investor these are the series of questions I ask myself when researching an area. It will be the same for all areas. People are people and properties are properties. What I have developed is a series of questions that I ask myself to find out what is the properties potential... It is a mini check list. I find out a lot about property and the area in general by talking to the local agents. They are a gold mine of information. If you treat them right and show them respect they will freely divulge loads of nuggets regarding the property, the area and the owners. This line of questions will lead to the best real estate investment properties in the area.

When you start with this research, you are starting to use your brain. The more you ask, the more it will find ways to the answers. Our brain is the most powerful computer on earth, so the more you exercise it, the more efficient it will become in providing you with the necessary answers. I have found this to be a valuable tool in my real estate investing. I now do this unconsciously and most times you do it automatically without being aware I am doing it. When you are genuinely interested in a certain topic, you love spending time finding out as much as you can about that interest. This is when you will learn the fastest. It is not difficult to concentrate and spend time doing this.

What better way to spend time at a sea side location doing research on your real estate investing interests. I have an agent in a sea side town I catch up with every time I am down there. Last time I was talking to Russell, he told me about the new health care precinct zoning for the town. That was a very valuable piece of information I can now use for my real estate investing for that area.

http://www.therealestateinvester.com I am an experienced and passionate investor. I buy typical mum and dad type houses that give me cash flow and capital growth. My website offers helpful tips and ideas for any type of investor to help you with your wealth creation. Using my site will help to prevent you falling into the traps the inexperienced investors do.

Discount Real Estate Agents in Los Angeles

Each year, millions of United States residents make the decision to sell their home. If you are interested in becoming one of those individuals, you have a number of ways that you can go about selling your home. A large number of homeowners privately sell their own home, but even more obtain professional assistance.

If you live in or around the Los Angeles area, that assistance can come from a discount real estate agent. Discount real estate agents are agents that offer their services for a low or discounted price. Unfortunately, a large number of individuals believe that there is no such thing as a discount real estate agent. Los Angeles residents that believe this misconception could be paying more than they need to for real estate assistance.

To differentiate traditional real estate agents from discount real estate agents, you will have to determine the cost of using the services provided by each agent. This can easily be done by price comparison. Similar to comparing prices at your local supermarket, you will need to obtain price quotes from a number of Los Angeles real estate agents. After the information has been obtained, you can easily compare the prices to find the lowest fees.

The cost of service is not the only thing that should be examined when finding a discount real estate agent. Los Angeles residents are also urged to examine the services offered by each real estate agent. The service offered by each agent is important in determining what type of service you will receive for your money.

When examining the fees of discount real estate agents, it is likely that you will see their services differ from traditional real estate agents. The services are often not as inclusive as those offered by full price real agents. Just because the same services are not offered, does not mean that you should stop searching for a discount real estate agent. Los Angeles residents have found success using the services of a discount real estate agent. Many are more concerned with the amount of money they will be saving versus the level of service they would receive.

When searching for a discount real estate agent, you may find that there are only a select number of agents that can be considered discounted. This is because most real estate agents charge full price for their services. If you are interested in quickly finding a discount real estate agent, without having to compare a number of fees, you can use the internet to your advantage. You can easily perform a standard internet search to find a discount real estate agent. Los Angeles residents often search for agents this way.

Whichever way you choose to search for discount real estate agents, it is important to remember that they do exist. Do not believe hearsay from other homeowners or denials from full priced competitors. With a little bit of research, you can find a discount real estate agent. Los Angeles residents have been finding them for years and now you can too.

Brad Horn is a writer for 1 percent realtor where you can find a great resource for information regarding a Los Angeles Discount Real Estate Agent.

Making the Fresh Start Presentation

So you are out and running your route and have found a homeowner home who wants to listen to a Fresh Start Presentation (FSP). Remember the Fresh Start Presentation is the Homeowner Options slide show that you have. It goes through the advantages and disadvantages of the seven (7) options available to the financially distressed homeowner. They are as follows:
1)Sell on the Open Market
2)Refinance the home
3)Restructure the mortgage
4)File bankruptcy
5)Borrow from friends and family
6)Let it go to foreclosure
7)Sell to an investor

Whether you have scheduled an appointment or have just knocked the door the opportunity to make the presentation will lead to money for you. So what is the best way to make the presentation? Do you start with the overview and then go through each option? Do you ask some preliminary questions and get to the homeowners present position or do you just get to the price we will pay for the home and leave it at that?

The answer depends upon the homeowner and your preparation for your visit with the homeowner. Remember ?Information is power and the key to a successful negotiation and purchase of your next home or investment property?. So if you have failed to prepare for your meeting with the homeowner your chances of success are diminished. We try to gather information for you and put it in the notes. Some information can be gathered by going over the pricing of the home when you have a scheduled appointment. The rest of the information will come from the homeowners? needs and wants and honest eyes.

What follows are typical situations you will run into in the field and what assumptions you should make if you run into these types of situations. They are 1) Research indicates that the home is on the market. 2) Home is vacant; 3) Homeowner just came out of Bankruptcy.

Home on the Market

What assumptions can we make if the home is placed on the market?
1) We know that they are willing to leave the home and move on with their lives.

2) The Homeowners have cut the emotional attachment to the home.
3) They have either eliminated or exhausted the following options: refinance, restructure and borrowing from friends and relatives.
From this we can make the following conclusion: The homeowner is left with the bankruptcy option and selling on the open market or to us. Here is a note from a locator regarding a house that is on the market.

Visited 8/12/06; 1PM. Met HO in driveway. HO's are divorced and selling the property. Home vacant. Property is listed with Briarwood Realty. Presented the Fresh Start Program to HO's. Interior of the home is broom swept condition already. Good condition. Husband was ready to give release, wife not willing to give release today. Wife indicated that she would like to take a few days and to talk with the bank on Monday. We agreed to contact each other on Tuesday 8/15/06. I left contact info with them and received their contact info as well. Will take complete set of photos when I get the release. Both HO's confirm that they have equity in the property.

Now what part of the FSP would you pitch to get the release? How do you begin the process? If I knew the number they had placed on the house, I would talk about market time, home inspections and the possibility of an unsavory investor tying them up until it is too late and purchasing at the auction.

If I did not know the market number I would ask for the price and how long it has been sitting on the market.

This type of presentation should begin with a back-up plan or safety net plan. It should inform the homeowners that we could possibly purchase the property in a quick fashion and net them some money for their fresh start. We would do this by making a deal with the listing broker to continue to list the property after we purchased it. Saving the homeowners the cost of the broker. We could also inform them that they would not have the carrying costs, insurance, taxes, and foreclosure costs that are currently stacking up on the property. All of this may add up to a less stressful conveyance than waiting out a slow market. If you are fairly new at locating just use the making the offer to the homeowner chart to walk you through the offer: This chart is located on the resource page of the website.

When a home is on the market it is fairly difficult to get a homeowner to agree to sell the property to an investor. Reasons are that some mortgage broker has told them that they can sell their home for a number we will not pay. Only time and an auction date will usually make this homeowner come around. A smart locator will make the pitch for the backup plan and wait until it is close to the auction to return for a final opportunity to purchase the property. In the meantime just call the homeowner every week or ten days to check in on their situation. This will allow you to have a continuing dialogue and build some type of relationship with the homeowner.

HOME IS VACANT

What assumptions can we make if the home is vacant?

1) We know that they are willing to leave the home and move on with their lives (they already have).
2) The Homeowners have cut the emotional attachment to the home.
3) That the house is costing the homeowner carrying costs each and every day. We can stop the bleeding by purchasing the home.
4) Homeowner should be happy to unload the property.

Here is a note of a recent vacant home visit:

Visited 8/12/06; 3:15PM. HO not home. Left into letter in the door with personal note. Spoke with the neighbor to get an update on this property. Mailbox is full. Shrubs and vines have overgrown the yard and cover the primary entrance to the house. Lawn has not been mowed in months. Neighbor says that the owner is a great person. He seems to think that the owner has another residence in Marshfield. This property had been up for sale. The HO has been trying to sell it for almost 2 years. He believes that the last listing was $249K. He also has been in the house and said that a lot of work has been done on the inside. Driveway is not paved. Otherwise, nice neighborhood. Dead end street with playground for children. This property is on the quiet end of the street directly across from the playground, corner lot. Looks like a good investment. We will need to track this person down.

Once the homeowner is found the pitch would be straight to the sale of the property to our company. There is little need to go through the rest of the options with this homeowner. It would simply be straight to the sale of the property. Again, this particular note tells us that he had it on the market for 249,000 dollars for two years or so. So we could easily tell him that the price of the property is too high and substitute it for the price that we would sell the property at. (see your manager or the index for the price). Next, I would use the Homeowner chart again to go through the price we could offer on the house and why. Once you as a locator get familiar with the costs associated with a home you can forego using the chart.

This vacant property purchase should be fairly easy once we have tracked down the homeowner. There is no emotional attachment, in fact the homeowner should be relieved to get rid of the property. I would stay on your manager to find these owners and provide you with the means to make a deal.

JUST OUT OF BANKRUPTCY OR IN BANKRUPTCY BUT IS LIQUIDATING THE PROPERTY TO PAY FOR THE PLAN.

What assumptions can we make if the home just came out of bankruptcy?

1) We know that they are finished with most of the options. They can file bankruptcy again but it will not help them.
2) The Homeowners can try to refinance but the cost of the mortgage will be astronomical.
3) That the homeowner has tried everything to save the home and failed.

Here the homeowners have been through the entire process. They have borrowed money from friends and relative, tried to restructure, and refinance the home as well as save it in bankruptcy plan by forcing a payment plan on the bank. Nothing has worked. You need to allow the homeowner a way out with dignity if possible. That may come from you just purchasing the property and giving them enough to begin renting.

They only have two real options left: 1) sell on the open market or sell to us. Your job is to explain to them the problem of selling on the open market with only weeks to go to the auction is not a viable option. The real option is trying to get some equity out by selling to us.

This type of purchase has to be performed with surgical precision. You have homeowners who are emotionally drained from the process of trying to save the home. They trust nobody including the lawyer who took them into bankruptcy and feel like everyone has screwed them. If you are empathetic now would be the time to show it.

Here is a note on a property where this happened.
7/31 note: Relief from stay of auction granted.
11/05 note: In chapter 13 now. He isn't interested in hearing our option as the thought of selling his home makes him cringe. He did agree with me that selling is better than losing to auction. He has the auction stayed for some time now. Let?s keep an eye on his bankruptcy. This is a good home.

From the note the locator has been watching this house since early November 2005. Long time to check in on the property, but it is getting ready to payoff. The new note indicates that the bank has now received the right to foreclose upon the property. It is usually the step before the bankruptcy being dismissed.

The locator will now need to go out to the home and listen to the story of the bankruptcy and convince this homeowner that it is best to sell the home instead of losing it to the bank. This homeowner really does not want to sell the house in fact he would rather stay in the house. With that in mind it is going to be a tough sell.

Again, this pitch should be a straight up number crunching pitch going through the items on the chart. Remember you are going to have to deal with the emotional tie to this house. From the note it is quite evident that this particular homeowner has this tie. When I make the pitch I usually talk about the house as sticks and bricks which is not really a home. The home is his family and the memories which they get to bring with them to the new house they will be occupying. If you can get through the emotional you will purchase the house.

good hunting
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http://frontgateconsulting.com/

Property Renovations: Keys to the FixerUpper

In the realm of real estate, there are numerous ways to go about making profits. One of the most effective methods of achieving financial success is in dealing with a fixer-upper. Home renovations are very important if you are in the business of making profits, so let's overview some of the key points that can help you in your ventures.

First of all, when you're dealing with a fixer-upper home, or any sort of renovation, it's important to keep in mind your main objective: to make a profit. It's an easy to forget, sometimes, that the long-term goal of the project is not creating your dream home. Sure, a big screen T.V. may look great in the living room corner, but making big purchases are unnecessary for a home you may not be keeping for long.

Let the potential buyers take care of the details; your focus is to provide the necessities, not to practice home decoration. Your choices should be neutral and simple, in order to appeal on a basic level to a wide variety of potential buyers. Keeping it simple is a must, but this doesn't mean you should leave the home as a permanent fixer-upper. Home renovations, in this sense, should include a number of basic tasks.

The first thing you should do is go through the property and determine what needs to go. Undoubtedly, there will be various pieces of furniture or other items around the house you may want to clear out. Get rid of anything that isn't working properly, or anything you think doesn't quite fit with the rest of the house. You may choose to leave carpeting for a while, even if you aren't its biggest fan; if you plan on doing any painting, old carpet can serve as the perfect placemat.

In order to catch the eye of a passer-by, you need to have an inviting exterior to your fixer-upper home. If there is a front gate, be sure to paint or replace it. Make sure the hinges and latches are in proper condition. Nothing says Welcome! like a picket fence, so if your home doesn't have one, be sure to get one. If so, make sure it is painted and sturdy. Keeping a healthy lawn is another must, so make sure everything is as green and tidy as possible. Pay attention to the little details, like your mailbox and shutters; these minor details aren't always as obvious, but create just as much of an impression.

Some simple gardening can go a long way, as well. Remove weeds, plant flowers- whatever it takes. This is your chance to be creative for little to no expense. When it comes to painting the exterior of the house, try to keep in the same color scheme as the surrounding homes. Make sure there are no missing or damaged shingles on the roof, and replace any cracked or broken boards. The backyard should be freshly mowed and watered.

Maybe the most important aspect of the home exterior is the front door: the grand entrance. If you have an unappealing front door, no one will want to see what's past it! Make sure to repair or repaint if necessary.In part two on home renovations, we will discuss more of the aspects important for the long term.

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Sal Vannutini is the owner of http://www.fixerupperfortunes.com. Did you know that he is giving away a 14 part e-course for free! Visit now and grab this amazing opportunity, to find out how you too can make profits from your fixer upper home.

Finding the Ideal Property to Rent

The mere thought of having to find a property to rent, whether this is your first go at it or you?ve become an experienced pro, can leave an undesirable taste in your mouth. Why? It almost always seems that every apartment that you?ve looked at (or will be looking at, if you?re new to this) seems to come up a bit short of what you really want (at least, among those in your price range). But not to worry, as with a bit of planning, you?ll be surprised at how smoothly and successfully your efforts can go!

Firstly, you need to decide upon the type of property you want to rent. Perhaps a one-bedroom flat will suit your needs nicely, or maybe a two-bedroom country house is more to your liking. Make a list, prioritize, and be open to suggestions, change and compromise; likewise, be aware of those features you aren?t willing to sacrifice at any cost.

Secondly, check online to browse the available flats and houses. To make your life easier, there are a few quality websites that aggregate listings, as they exist solely for this purpose. Again, make a list and prioritize; be open to suggestions, change and compromise. For example, maybe you really don?t need that second bedroom in order to keep the superb view of the city within your price range. Or maybe gas central heating is more important to you than living close to the train.

Thirdly, when you find a property that you?re interested in, be sure to research the building, the general area, and the landlord. A quick web search for the landlord?s or management company?s name will often tell you whether the tenants are treated well. If the property of interest is one in a larger development, you can always take a leisurely stroll during the day and ask quick, simple questions of any tenants you might see.

Likewise, you can get information on the neighborhood?s crime rate with a web search or by asking a knowledgeable realtor or someone who lives there. Alternatively, you can take a stroll through during the evening and observe the neighborhood for its typical social behaviors.

Above all, be mindful of your priorities, and do your homework! With so many resources available (both offline and online), there?s no excuse to get into a lease that will leave you unsatisfied.

Carolyn Jameson recommends that you visit www.rentright.co.uk for more information on property to rent in the UK.

South Dakota Mortgage What to Know Before Buying a Home in South Dakota

Maybe you?re buying your first home in South Dakota, or perhaps you?re relocating to South Dakota from another state. Either way, it?s important that you educate yourself on South Dakota home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in South Dakota:

The median price of a home in South Dakota is $79,600. The price of homes in South Dakota varies widely between zip codes. For example, in Rapid City, South Dakota, the median price of a home in the summer of 2005 was $195,000; however, in Sioux Falls, South Dakota, the median price of a home was $171,000, and in Yankton, South Dakota, it was $149,000. Average interest and job growth rates in South Dakota are above the national average.

South Dakota state law requires that the minimum loan amount on a mortgage is $35,000. Additionally, it requires that an assignment of mortgage must be in writing and recorded. In the case of full loan repayment, the borrower must satisfy mortgage of record within 10 days of the lender?s written request. If they do not do so, they are held responsible for all damages the lender incurs as a result of their ill-compliance, including the lender?s lawyer fees and a $100 penalty.

South Dakota has a Fair Housing Law that prohibits mortgage discrimination against anyone because of their race, color, gender, religion, familial status, or national origin.

The Housing Development Authority in South Dakota assists low and moderate income families and first-time home buyers obtain mortgages. This program offers below-market interest rates and down payment assistance to borrowers who qualify under the state?s established guidelines.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about South Dakota Mortgage Rates and Loans.

South Bend on the Web's Hottest House Sites

With the advent of Web 2.0, many real estate Web-sites are offering new services and new hype. Though well-funded national Web-sites can offer staggering technical services, much of real estate remains local and beyond their ken. Additionally, South Bend is a secondary market, so many services aren?t active in our area. Below is a look at four of the best new real estate Web-sites and their performance in South Bend. The sites are often entertaining and useful, but they lack the local knowledge and human touch real estate often requires.

Zillow

Experience: Zillow offers a map based search of homes, allowing you to learn Zillow?s estimated value of each property. While the idea of easy access to every homes value is compelling, these estimates reportedly vary wildly. Phoenix based Greg Swann recently wrote a lengthy article about the inaccuracy of their ?Zestimates.? Regardless of their accuracy, Zillow has NO data on South Bend homes.

Analysis: A great technical format with a possibly flawed premise. Estimated home values created sight unseen or by a formula should not be considered authoritative. You can check the assessed tax value of your South Bend home to see another often innacurate formula-based valuation.

Realtor.com

Experience: This is the most established player, run by the National Association of Realtors. A quick search returned 1,644 properties for sale in South Bend. Their ?request a showing? button summons a form for you to enter your contact information, which will be sent to a Realtor as a ?lead.? Searching for a realtor in South Bend returns seven pages of Realtor mug shots and Web-site links with little to differentiate them.

Analysis: An ad-heavy but functional way to view properties in the area, but a poor way to choose a Realtor.

Redfin

Experience: This is a limited service online brokerage with the motto ?we refund 2/3 of your commission.? It?s an interesting addition to brokerage options where it is available, currently only in San Francisco and Seattle (not in South Bend). It is also for those who are already VERY comfortable with buying and selling homes. If successful it will eventually reach Indiana.

Analysis: The search is akin to Realtor.com with a limited scope but better technology. You use a map and search for active listings based on your criteria. After you find a property the difference is stark. Redfin offers only on-line and phone support. This is as close as you can currently come to buying a home on the Web. Don?t expect much guidance or much of a personal touch.

Craig?s List

Experience: This is the local version of the popular, text-based on-line classified. It?s worth scanning for hidden gems, but contains many ads which are not for South Bend real estate, e.g. ?great leads for Realtors? and ?Invest or Retire in Arizona.? Analysis: Craig?s List?>South Bend?>Real Estate has its place, but is better for apartments and rentals than for residential homes.

Nick Molnar is founder and editor of the South Bend Area Blog, and resident of South Bend, Indiana. He can be reached by e-mail at nick@realst8.com.

Scottsdale Arizona Real Estate

Arizona, the Grand Canyon state, is a land of desert sands, sparkling waters, beautiful mountain ranges and a warm climate. It is the sixteenth largest state in America. It is a state famous for its race- courses, resorts and golf courses. Scottsdale is the fifth largest city of Arizona. One of the most livable cities in America, Scottsdale boasts of numerous art galleries, indoor and outdoor theatres, parks, museums, athletic fields, open arenas, grand prix field, polo fields, a center for arts. Availability of all services and commodities essential for personal luxury makes it one of the best places to live in. Scottsdale is growing fast, especially in the northern regions of the city. There is a huge increase in the number of new residents every year. Scottsdale has seen a high increase in population every year, which also contributes to a boost in the real estate industry. Low housing rates make it a favorite for investors. Comparatively lower taxes in the state of Arizona make it more enticing to already- retired people and those planning to retire soon.

Well-planned homes, villas and condominiums grace this beautiful city. The houses usually have mountains as their backdrop, which gives a view of beautiful sunsets. The luxury homes in the north Scottsdale area provide some of the best resort and retirement community.

Although traditionally, Scottsdale has always seen a great demand for real estate, the industry is showing a decline of recent. In spite of the fact that many people are relocating to Scottsdale, the profits are not as large as they used to be. Though this has not affected the industry drastically yet, it has certainly made it a less popular destination for investors. Profit rates are lower as compared to previous years. Proper pricing of property has become an issue of concern. This has lead to a decline in construction of new houses. People now tend to prefer renting houses rather than buying or constructing them. Nevertheless, the real estate industry contributes a large part of the tax revenues that are collected every year in the state. This gives an indication that it is still one of the most profitable industries in Arizona.

Scottsdale Real Estate provides detailed information on Scottsdale Real Estate, Scottsdale Arizona Real Estate, Scottsdale Arizona Real Estate Agent, Scottsdale Real Estate Agent and more. Scottsdale Real Estate is affiliated with Tucson Residential Real Estate.

Home Ownership Ownership Societies and Home Equity Considered

One of the greatest things that a society or civilization can have is buy-in from its citizenry. Perhaps you might call this a sense of nationalism that comes from owning a piece of America. Home ownership helps boost the value of ownership societies and yet even though more Americans own homes now then have ever in the history of our nation we also have a problem where the home equity value is less on a percentage per house than it has ever been also.

We know from the last real estate crash that when home equity becomes negative that more and more people walk away from their homes and then they are disenchanted with our society, civilization and even capitalism itself. This is unfortunate although it also shows a sense of irresponsibility on the part of those people who dug their own grave of debt. Nevertheless in the blame game world of human civilizations and societies people who have hardships of life usually try to blame someone else for them.

So what started out to be a great advancement in the concept an ownership society in the United States of America looks like it is slowly losing some of its steam and actually might end up causing a little bit of a problem in the future. The Federal Reserve says that the housing market collapse is not as bad as people portray it and this is relatively true however, it is something we need to watch in the future.

If people walk away from their loans this can cause a problem in the banking system and American citizens are already in too much debt with short-term loans and credit cards. An ownership society is a great idea and we should commend our leadership for working towards that noble goal, but at the same time we must be very careful that we talk about ownership we are not just talking about debt; rather actual ownership.

Owning a piece of America should not be owning an overwhelming responsibility of stress to make payments on something that is not his worth as much as the loan value. Please consider this in 2006.

Lance Winslow, a retired entrepreneur, adventurer, modern day philosopher and perpetual tourist.

The Advantages Of Getting Help From Experts

There are so many people who come to Las Vegas year after year in search for good investment opportunities. Many of these people who come to Las Vegas to invest have realized profits from their investments however there are also many who have lost a lot of money investing in Las Vegas. If you are a first time investor in Las Vegas, you should never attempt to invest in this part of the world without getting help from brokers and agents. The reason why you need to get a broker or agent is that there are many considerations that you must take before you invest into something especially if such investment would involve personal properties that cost a lot of money.

It is not difficult to find a good agent or broker to help you in Las Vegas. There are a number of good brokers and agents in Las Vegas who could help you get the best value for your money. The easiest way to find good brokers and agents in Las Vegas is to surf the Internet and look for reputable organizations of brokers and agents. Once you find the right organization brokers and agents, inquire from the organization about their members and ask for referrals. You can ask referrals through an email or you can call them by phone if you prefer to talk to someone instead of sending an impersonal letter. It is always safe to go through organizations of brokers and agents than to just simply approach certain agents and brokers, which you have just met for the first time.

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Stop Foreclosure

When a person falls upon financial hard times without their fault at several times and they are behind on mortgage payments they may need some financial help to stop foreclosure on their property. You can stay apart from foreclosure through hard work and not by sitting back and giving up frequently. You have the potential to do some things for stopping the foreclosure because nobody wants the sheriff to deliver a foreclosure notice. In any circumstances do not ignore letters or phone calls concerning your aberrant mortgage payments.

Get in touch with the lender and elucidate your situation, as they may be keen to work and know that you are annoying to make things in an exact way so offer you financial help to stop foreclosure. While discarding the property you may get debarred for aid. When you work with the lender and your financial problems are temporary, the lender might be able to help with financial help to stop foreclosure. Often this is a one time loan, bringing your mortgage payments up to date. The upside is that the monthly mortgage payments are smaller but the lender interest rates are higher.

Always be honest and upfront with the lender and they will work with you. After examining your financial position and the reason for your nonpayment, the lender could reduce the monthly payment or suspend payments temporarily. Be honest with your lender and by working with them and examining the options available as it is possible to get the financial help to stop foreclosure.

Foreclosures cost lenders money, big money, so it is in their interests to reach a workout with the borrower, either to rescue the mortgage, if this is possible, or to reduce the loss as a result of foreclosure. Don't be intimidated by the lender or his attorneys. Apprise yourself of your exact financial position. Know your rights as well as options and be honest in your statements. Maintain a written record of all communications.

Read all communications from your lender. Time is your enemy, so the earlier the potential problem is recognized by both parties, the better the chances of a resolution. If you are suffering from financial loss due to the death or loss of a spouse, illness, or unexpected increase in your outgoings, contact the lender and request a loan modification, which effectively changes the terms of the loan to lower the payments.

This is a very common process, but you will need to offer evidence about the change in your circumstances. If you feel that you are qualified for a loan modification, and your lender refuses, contact the HUD for advice. Get in touch with your lender and request forbearance if your loss of income is temporary. This means that you may get period which is granted during which your monthly payments are suspended, after which you must resume your monthly payments with a partial payment in addition towards the payments you missed.

Ron Victor is a SEO copywriter for http://www.webuyhousesforcash.com
He written many articles in various topics.For more information visit http://www.webuyhousesforcash.com
Contact him at ron.seocopywriter@gmail.com

How Affordable Is Really Affordable?

You?ve found your dream home and can?t believe the price! You?ve never been so lucky. So, how can you make sure your affordable dream home truly is affordable? First, make certain you?ve viewed several properties in the area and compare the pricing. It?s hard to know if you have selected an affordable home if you?ve only viewed one property in that area. After you?ve viewed several properties, then you can assess whether or not the home you?ve selected is in a comparable market price range.

Also, consider checking with your local property assessor?s office or tax assessor in order to compare market values of these homes. Secondly, make sure you?re not paying for decoration. Imagine the home or property completely bare. Would it still be worth the price you?re paying if all of the fancy decorations were taken down? Be sure you?re not paying for ?window dressing? that will be gone the moment you sign the closing papers. Imagine the home decorated the way you envision and you?ll know whether or not it?s suited to you.

Lastly, inspect, inspect, and when you?re finished with that, inspect some more. Most homes have records available at the local courthouse or property assessor?s office. It?s important to make sure you?re not purchasing a home in a flood-zone or on an earthquake fault. Also, the housing authorities sometimes keep records on things such as termites and other housing damages. Once the house passes these tests, turn that key and enjoy your new and affordable home.

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Living The Laid Back Life In Tennessee

Tennessee is a great destination for the avid vacationer and the couple or family looking to get away to a more rural lifestyle. Of course if you are into the big city life, Tennessee can accommodate you for that as well.

Eastern Tennessee is one of the foremost vacation destinations in the Southeastern United States with cities such as Gatlinburg, Pigeon Forge and of course the Great Smoky Mountains National Park. The Smoky Mountain National Park is the most visited National Park in the United States with more than 9 million visitors every year and Cades Cove is the most popular destination within the park. Cades Cove offers a look back to what life was like for the early settlers during the 19th century. A 10 mile loop road around the Cove is the highlight of a visit here.

The park also includes more than 800 miles of hiking trails for everyone from a casual nature walk to backcountry rock climbing.

Gatlinburg is the main town that services the National Park and if you aren't camping in the park you are probably staying in Gatlinburg. An interesting little known fact about Gatlinburg is that ten times as many people lodge in Gatlinburg every night as live there. Gatlinburg and the surrounding area boasts accommodations for more than 30,000 people. Some of the more popular places to stay are in log cabins with incredible mountain views or in a secluded wooded cabin away from everything. There isn't anything that will give you more of a sense of the rural and relaxing lifestyle than to vacation in a log cabin.

Gatlinburg's sister city, Pigeon Forge, offers many attractions and hotels on the main road through town. Go-karts and the Dollywood theme park are the more popular attractions. Pigeon Forge also boasts one of the largest outlet malls in the south for the person that can never get enough shopping.

Tennessee has a rich history that includes many major battles fought in the Civil War. If you are a civil war buff you can visit such historic sites as Chattanooga National Military Park, Fort Donelson National Military Park, Shiloh National Military Park, Stones River National Military Park and the Andrew Johnson National Historic Site as well as others.

If you would like to live in Tennessee and still be close to the mountains, but away from the tourist areas, then Knoxville is your city. With a population of 180,000 and great home prices you can be within 45 minutes of the Smokies and enjoy everything the city has to offer.

And if you do enjoy the amenities of the big city life then Memphis will surely accommodate you. The Memphis metropolitan area has a population over 1.2 million and offers everything you could want in a big city. It is famous for music and has produced several genres of well know music such as the blues, rock n roll and gospel. Some of the more famous Memphis musicians are B.B. King, Johnny Cash and of course the King of Rock n Roll, Elvis Presley.

Tennessee offers a little bit of everything for almost every one. Come and enjoy a great vacation or choose Tennessee as your permanent address.

Alan LeStourgeon writes about several areas of the country on his Melbourne and Palm Bay web site where you can get more information about the Tennessee lifestyle and search Tennessee MLS listings for a new home.

Atlanta Real Estate FAQs

The answers to frequently asked questions (FAQ) about Atlanta real estate can help you to make a better real estate deal. You can also approach a real estate organization or agent in Atlanta to clarify your points.

How much money is required to buy an average home in Atlanta?

This depends upon a number of factors such as the size and location of the home, the comforts you are looking for, and the procedural fees.

Why do Atlanta home prices go up?

High employment rates and the growing population have raised Atlanta real estate prices. Atlanta's rapid all-round growth contributes significantly to the price hike as well.

What are closing costs?

Various expenses associated with selling and buying of a home, paid at the closing of the mortgage process, are collectively referred to as closing costs. For sellers, closing costs can be approximately 9.5% of the total price of the property.

What are the requirements for Real Estate Settlement Procedures Act (RESPA)?

This is a consumer-protection statute and requires that certain information about property loans be revealed, such as estimated closing costs and Annual Percentage Rate (APR).

What is the current trend in the Atlanta condominium market?

There has been an explosion in Atlanta's condo and loft market over the past few years. Ranging from renovated warehouses and factories to high-rise condos with many amenities, Atlanta has a buzzing condo and loft market.

What is special about Atlanta's neighborhoods?

Atlanta's neighborhoods have some historic importance. You find Jewish communities and a historical African-American population in the neighborhoods. Most neighborhoods have civic associations that work for the welfare of the local community.

Atlanta Real Estate provides detailed information on Atlanta Real Estate, Atlanta Real Estate Agents, Atlanta Commercial Real Estate, Atlanta Real Estate Listings and more. Atlanta Real Estate is affiliated with Chicago Suburb Real Estate.

Buying in Spain What is a Buyers Agent and how can they Help?

1.An overview of buying in Spain

The climate and lifestyle in Spain coupled with the property boom in the UK in the late nineties and early 2000?s has meant people are considering a second home in Spain ? or permanently moving here to start a new life. Whatever the reasons there appears to be 2 types of buyers.

1.Those that prepare and research everything
2.Those that have little time or inclination for preparation

Many buyers have seen property exhibitions run by large companies who appear to offer the world. They sign up for inspection trips believing that they will see a few properties and then have time to look around other areas and other properties.

However the reality of these types of trips is that there is little time to do anything except look at houses the developers choose to show you ? often in areas which the buyer doesn?t really wish to move to.

Often buyers believe the TV programmes that promulgate British TV ? such as ?A place in the Sun? - that for a few thousand pounds one can buy their dream Villa in Spain ? this just isn?t the case anymore. Most of these programmes were produced 2 ? 3 years ago and give buyers unrealistic expectations. Because of the influx of foreign buyers, prices in most areas of Spain have shot up considerably ? on average around 20% per annum over the past 5 years but near the Costas a lot more. Consequently the number of agencies selling properties has grown proportionately.

People on the whole ? for whatever reason - tend to visit Spain with little or no preparation. Busy lifestyles lead to limited time. So many people will just hop on a plane and hope for the best ? some are lucky others spend their trip searching fruitlessly, visiting estate agents offices, seeing properties that neither meet their needs nor their purpose for buying in Spain.

Many agents have a philosophy of once you are in their office don?t let you go until you agree to visit something. They spend little, if any, time finding your real requirements ? to them all that matters is the amount of bedrooms, the area and the price ? but to you the buyer there are other more subtle factors, such as schools, hospitals and a feel for the area, which no amount of words can put across.

Estate Agents operate by taking on a property from a client. They differ from the UK in that the seller determines the price they wish to receive and the agency adds on their fees. In most cases these fees vary from between 3% and 10%. However some unscrupulous agencies will charge upwards of 25% and more if they feel they can get away with it.

The net result of all this is that you are visiting people who have the sellers interests at heart, will pressure sell you into buying something you don?t necessarily want, will happily trail you around countless number of houses ? usually just to give the sellers the impression they are doing their job. Thus because buyers are stretched for time they will accept anything just to get on the ladder, and end up with the wrong property in the wrong area ? and possibly return to the UK after a year or so because they don?t like the lifestyle.

And worse still they probably paid well over the odds for their property because they don?t speak Spanish and went to an English agent ? which means they are paying usually 10%+ on top of what the owner wants ? in some cases much more. So when they try to sell later ? they cannot without losing money.

2.The results

So the net result of not preparing and just going to an estate agents is

?Using agencies with other peoples interests at heart
?Wasted time as agents show buyers round properties not meeting criteria
?Wasted trip due to fruitless search (and the cost involved in arranging another trip)
?Accepting the wrong property because ?time is running out? and the need to get on the ladder
?Paying over the odds for the property ? due to high agents fees and....
?Not being able to negotiate a good discount because it is not in the agents interests to do so
?Eventually having to either go home or sell on at a loss because of over inflated prices
?Frustration at the whole process of buying in Spain
?A general feeling that no-one is listening to their needs
?An Increase in costs due to price rises in the meantime
3.The Solution

The solution is very simple. Instead of using someone who has the sellers interests at heart use some one with YOUR interests at heart ? a Buyers agent. If you only have a limited period of time then it is much better to do a little preparation and get someone else to do your legwork for you. Then when you do visit you will see a handful of properties ? all of which you will have a fairly good chance of buying because they meet with your criteria.

4.What does a Buyers agent do

?Establish your criteria
?Search for property and view each one then Select properties for you to view
?Process the formalities - take you to the Police station to arrange your NIE number (crucial before buying a house) and arrange a Spanish Bank account
?Guide you through the purchase process, including the notaries and translation service where
?required.
?Where needed provide additional services such as finding builders to do work, interior designers buying a car etc.

4.1.Establishing your criteria

Firstly they should discuss with you your requirements on the phone, email or face to face.

They should endeavour to establish important criteria such as

1.Area and location
2.Reason for purchasing
3.Maximum budget
4.Other requirements - Type of property, State of property, Minimum # of Bedrooms, What kind of work you are willing to do, What you are willing to accept, What you are NOT willing to accept, How much land you require and for what reason (where appropriate) 4.1.1.Area

Probably the most important criteria is the area. Once you have established an area you want to live in then the rest is secondary. It is generally easy to find specific types of property in an area once the area has been decided upon ? providing you are realisitic in your requirements (there?s not many places where you can find a 3 bed villa with a pool for the price of a sandwich and a coffee from Starbucks).

One of the most common mistakes buyers make is to try to buy a property before establishing an area. Sometimes this works ok but most times it is a disaster, leading to disappointment and wasted time, as well as additional expense. Some research can be done beforehand, but the buyers agent can help to establish an area based on your requirements. For example do you speak Spanish? No then you need a predominantly English area unless you are willing to learn. Do both partners drive ? if not then what happens if you buy a secluded property when the non driving partner wants to go visit people and the driving partner isn?t around ? they will drive you straight back to the UK. Need to work, then going to a sparsely populace village could be commercial suicide. These are factors that are more than just the price of the house and how many bedrooms it has.

4.1.2.Reason for purchasing a property

The reason for buying the property is almost as important as the area. For example if you want a property for investment purposes it is no point in buying inland as you will get very few rentals ? in spite of what agencies may tell you. There is only one constant with rental properties ? the beach gets the highest premium. You may well be able to increase the rental income by adding a pool, but most holidaymakers want to be within striking distance of the beach.

Or you may be buying a holiday home for occasional use and rental, a place to live semi permanently or a permanent residence. All of these factors need to be clarified as they all have a bearing on the area and location within the area.

For example older people want to be close to Hospitals and Medical care, the towns and where one partner only drives within walking distance of amenities so if anything happens to the non driver the other can cope without upheaval.

Young families need to be close to schools and amenities, clubs and other societies to enable comfortable living. Do you want to live in the country but close to a town, or in an urbanisation where you have neighbours close to hand.

The rest of the requirements are self explanatory. The buyers agent will try and determine your minimum requirements so they can discard any properties that don?t meet them ? after all there is little point in visiting a stunning property if you need 3 beds and it only has 2 ? this would compromise your living and in time would mean you have to move on.

4.1.3.Maximum Budget

Obviously very important. But you have to remember a number of things. First of all the advertised price isn?t the price you pay. You must add another 10% for legal fees etc on the purchase price of the property or 12% if you need a mortgage. You pay 10% of the declared value. It is customary in Spain to only declare a percentage of the purchase price. This is known as BLACK and WHITE Money. Ie the black money is the undeclared amount.

Whilst completely illegal it still goes on and is dependent upon YOU as a buyer whether this is something you wish to do. DO NOT be pressurised into doing this it is fraud and all you are doing is leaving yourself open to paying someone else?s tax bill.

You must also take into consideration exchange rates. You may have had ?200,000 last week when the ? was high against the Euro but this week it may have gone down again. Allow for this fluctuation by setting your budget a bit lower or by fixing the rate beforehand. Most agents will have a relationship with an exchange company and can guide you here.

What about furniture. Will you bring your own with you, or get some whilst over here. Most Spanish people tend to leave their furniture in the house ? lock stock and barrel. You need to agree with the sellers what?s being left and make sure you get it in writing before you sign contracts. If you are going to buy when you are over you need to allow around 10% of the purchase price for furniture. 4.1.4.Other requirements

All your other requirements are taken into consideration too. A buyers agent will only provide you with properties that meet your minimum requirements, taking into account price and area. Where they believe these requirements to be unrealistic, they should guide you as to acceptable solutions.

By working with you and advising you honestly they should ensure you get the results you want .

4.2.Search for property

Once they have established your criteria they will search for properties in the area you have indicated using your criteria. Typically this can take up to 3 weeks depending on the area and your requirements (obviously the more flexible with criteria you are the more matches you will get the quicker it will be). A good buyers agent will personally visit every property before they send details to you.

They will then send you a list of about 5 ? 10 properties for you to look at. From this you will agree a list of properties you wish to see and create an agenda for your visit.

Experience suggests that anything more than half a dozen properties will overload you and will not add anything to your overall choice. By limiting properties to your selected criteria they will ensure that you get your perfect property very quickly. Think of it as a dating service for property. It usually works because most people buy the first or second home they see. 4.3.Process the formalities

There are two very important things you must do before you buy a property in Spain. The first is go to the police station and obtain a NIE number (Numero Identificaci?n Extranjeros ? A foreigners Identification Number). This allows the authorities to know who owns property in their area and is essential for buying a home or any other large purchase (such as a car).

This is a mere formality, for which you only require a copy of your passport, and a signed application form. You will require this identification number for non-nationals should you wish to open a bank account in Spain

Next you need to have a Spanish Bank account. Although not entirely essential you need to pay bills regularly (in Spain Bills are paid every two months rather than quarterly). Missing a bill can mean disconnection from the service and an embargo put on the property (similar to a CCJ in the UK). Most Bills are paid by Direct Debit ? so it makes sense to have a Spanish Bank account. Also if you have a mortgage then you will need to have a Spanish Bank account.

After this you are free to buy your property.

4.4.Guide you through the buying process

Once you have chosen a property you should ensure that pre-contract enquiries and searches are carried out to protect your best interests. Evidently, the first step is to introduce you to a solicitor who specialises in drawing conveyances. Your decision to employ a lawyer will provide you with peace of mind and save you considerable expense in the long run.

Once you have chosen a lawyer, the conveyancing process commences with the pre-contract enquiries and searches. These procedures are the same for newly-built and second-hand dwellings.

Second-hand homes: It is usual to sign an option contract, and pay 10% of the purchase price, from which any amount you may have previously paid as a booking deposit must be deducted. Prior to paying over a deposit you shuld carry out pre purchase searches (or your solicitor should)

The balance is paid, in the majority of cases, within 30 to 60 days. On payment of the balance of the purchase price, the vendor is bound to sign the Deed of Conveyance transferring the property to you, or to the person or company you designate.

It should be remembered that where the vendor is a non-resident you must retain 5% of the purchase price stated in the Deed of Conveyance. This 5% must be lodged with the Spanish Inland Revenue as a payment on account by the vendor in respect of his eventual capital gains liability generated as a result of the sale. Your agent should assist you with this if there is no bank mortgage involved (usually the banks retain this on your behalf and pass it to the hacienda directly)

Newly-built homes: In most cases the developer will offer a standard contract of sale, requiring an initial down-payment and a number of interim or staged payments, which are generally linked to progress of construction and completed work stages. In most cases, the final payment is made when the Licence of first occupation is granted.

Likewise, if the developer has financed the development through a mortgage loan, the purchaser may assume the mortgage instead of making the final payment. Should you not wish to assume the mortgage, the developer must discharge the mortgage, and will be liable for any expenses or outlay entailed in the discharge of mortgage. Be careful to ensure he does not try and pass this amount to you. You will need to ensure this is in your contract

Any interim payments you may make to the developer while construction is in progress must be guaranteed by a performance bond or insurance policy called a bank guarantee

4.5.Help you with other services

Seldom does your purchase finish at the notaries office. Typically most agents will help you a little afterwards with things such as transferring bills into your name etc. However for most this is where the transaction ends.

But what about when you need a builder to turn your plot into your dream home, or to renovate your house, or even buy a new car and transfer everything into your name. This can prove as stressful as buying a house.

As your buyers agent they should be happy to either put you in contact with local people who they know to be good, or they can manage your project for you and ensure that the work gets done in accordance with your wishes ? very important if you are not here to oversee everything yourself.

Finally there may be times when you just need to call someone to talk over a problem or ? in some cases ? someone to speak Spanish on your behalf. It has been known for customers to call and ask if we can speak to an assistant at a shop in order to get the message across to them. We are more than happy to do so ? and it doesn?t matter how long after you bought your property ? our service doesn?t stop when you buy a property ? after all you may be our neighbour and a client again one day in the future.

5.The benefits of using a buyers agent

There are many benefits of using a buyers agent. Firstly and most importantly you have someone batting for your side. They will negotiate on your behalf and because they find your property via other means than using an agent then you can be assured of getting the best possible deal. In short then the benefits are

1.Someone with your interests at heart
2.Vested interest in getting you your property ? therefore will listen to your requirements
3.Local knowledge of the areas you wish to live in
4.Able to bypass agents or at least negotiate on your behalf
5.Save you frustration of endless visits to inappropriate properties
6.Save you time allowing you to get on with purchasing your home
7.Could save you substantial amounts of money (upto 10-30% of the purchase price)
8.Will ease you into the process of buying in Spain

If you have any comments on the subject matter or want any advice then please feel free to contact me. vbtudor@spanishproperty-direct.com and for more articles about buying in Spain look at the website http://www.spanishproperty-direct.co.uk If you would like a free copy of the e-book - An Insider?s Secret Guide To Buying A Property In Spain then drop me an email and I will send you a copy by return.

Disclosing Defects is Every Seller?s Responsibility

Sellers have the responsibility of disclosing any defects in the property to the buyer. The seller should disclose defects which could affect the value of the property as well as the living conditions. The defects may relate to insulation, structure, plumbing, electrical, heating and cooling systems, fixtures, etc. No defect is too small to be kept away from the buyer.

It is understandable that most sellers feel that disclosing defects may result in a lower price, so why should they subject themselves to this? Firstly, because it is unethical and unfair to those buying your home. If this is not a good enough reason, consider the damage you will suffer if the buyer decides to sue you later.

Some states require sellers to fill in a disclosure form which has to be handed over to the buyer. If the seller does not present this form, the buyer can easily withdraw his offer and get a complete refund of his earnest money deposit. Laws have becomes stringent over the years to protect consumers, in this case the buyers. Some items have to be specifically disclosed and vary from state to state. Federal law requires disclosure related to lead content.

Even if there are no strict laws applicable, one is not allowed to mislead the buyer. You may choose to hide a minor defect but leading the buyer to believe something which is false will surely get you into trouble. If you lie about a particular defect and the seller finds out later, you will be required to reimburse for repairs and perhaps suffer litigation.

Get an inspection done if you must but reveal the condition of the property truthfully. If it is possible you should consider fixing some of the major defects. Even if you are selling your home ?as is?, it only means that you are not required to renovate or repair defects. You will still have to disclose the defects to the buyer.

Find out the legal obligations of the seller in your state to fulfill your duties completely. Although it is up to the seller to reveal all defects, it is suggested that one should do it. It will provide the buyer a clearer picture and save you from getting slapped with a lawsuit.

Sadiya Anjum - ChoiceOfHomes.com - Find listings of Homes for Sale online. Home owners may also advertise their home for sale online.

Tips On Finding A Quality Realtor That Works For You

Before they can start to work for you

When your looking for a house, apartment, mobile home or townhouse there?s a good chance you?ll come across a realtor. This realtor will always try to be getting your business. One of the best ways to know if this realtor can do the job is to know what he or she is required to do for you.

Before starting a business relationship with yourself a realtor must show his or her duties, limitations and the types of services a customer might expect. This can be done with a pre-made brochure (working with a realtor) which explains:

the fiduciary duties that an agent owes to a client, be that client a seller or a buyer;

Limitations on these duties should an agent be given consent to act for both parities. The types of services a customer might normally expect to receive when there is no agency relationship.

It?s very important to understand that the seller or buyer?s informed consent is required before a realtor starts to work for yourself. This can be used as your fist test to see the quality of your realtor. Whether your buying or selling a condo, apartment or house, the brochure that explains these topics are provided to the realtor from the British Columbia Real Estate Association. This brochure is to be read to you and then signed by yourself before the realtor talks about anything pertaining to your home purchase.

Duty to Clients

Your local Real Estate council sets out the duties that a realtor owes to a buyer of real estate or a seller of real estate with respect to any investments in your area. All of the following is required when your in the market to buy or sell your home. This applies to Newly constructed homes, Apartments (new or old) and all other transactions pertaining to the buying or selling of real estate:

Your realtor does actions in the best interest of the client;

Realtor is in accordance with the lawful instructions of the client Only uses authority given by the client;

If there is a task that is above the authority of the realtor, he or she must advice you to seek independent professional advice on matters outside of the expertise of the realtor;

Confidentiality of information is a huge item that must be established

When an offer on your property is put forth, all offers to the client must be presented in a timely and unbiased manner; Any conflicts must be told to the client when they arise.

We?ve talked about what a realtor is responsible to do if he or she wishes to work with yourself. When you first come in contact with a realtor be sure to notice the body position, eye contact and hand shake. Notice the way she or he understand and listens to what your needs are. Ask specific questions and take note of the response made by the realtor. You now have knowledge of what the responsibilities of a realtor are. Whether your investing in a condo, apartment, mobile home or acreage, your realtor must disclose what his intentions are.

Shane Toews is a Licenced Realtor who helps others to educate themselves on current real estate issues. He also provides assistance on how to locate quality homes, apartments or vacation rentals in Canada's Fraser Valley area. Visit his website RentFraserValley.com for more information on Canada's Fraser Valley Real Estate Market

Maryland Mortgage What to Expect When Buying a Home in Maryland

Maybe you?re buying your first home in Maryland, or perhaps you?re relocating to Maryland from another state. Either way, it?s important that you educate yourself on Maryland home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Maryland:

The median price of a home in Maryland is $146,000. Recently, homes in Maryland have been appreciating at record highs for the state. As a result, income levels in many parts of Maryland are too low to purchase a median-priced home with a conventional loan. In fact, homeowners in many Maryland cities pay more than the recommended 30% of their incomes toward housing.

The price of homes in Maryland varies widely between zip codes. For example, in Annapolis, Maryland, the median price of a home in the summer of 2005 was $315,000; however, in Fort Washington, Maryland, the median price of a home was $375,000, and in Silver Spring, Maryland, it was $450,000. Average interest rates in Maryland are above the national average, and job growth rates are ninth highest in the nation.

In Maryland, the borrower employs the settlement attorney or title agent. The lender is not permitted to do so. Maryland has strict anti-predatory lending laws. Among these include the prohibition of prepayment penalties and reduced-rate options on adjustable rate mortgages and fixed-period adjustable rate mortgages.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Maryland Mortgage Rates and Loans .

Where Will Your Marketing Dollars Get The Best Return on Investment?

During your training as a new Realtor, you undoubtedly received coaching from managers and brokers on many subjects designed to help you build your business. Despite this, many Realtors don't do all of the exercises that they promised themselves they'd do. As a result, many agents find themselves doing the same marketing plans month after month without analyzing how hard their advertising dollars are working for them.

Ask a Simple Question With Big Results

Nearly everything that a Realtor spends money on is designed to promote him or herself as an agent. Direct mail, ads, websites, promotional items, even your yard signs, are all speaking to clients on your behalf. But not all of these things are equally effective, and it's important to determine which of your marketing materials are working hardest for you.

All it takes is a little research to determine what's working, and what can be cut back or eliminated altogether. Create a spreadsheet on your computer, or even use a notebook divided into columns, and list every form of self-promotion that you use - even those that you don't pay for. Be disciplined and ask each and every potential buyer or seller that you speak to, How did you hear about me?

Use Your Money Wisely

Once you've collected data for an entire month, review your results. Let's say that your data breaks down to five leads from referrals, one lead from your weekly newspaper ad, five leads from your website, and four leads from the promotional calendars that you sent out to your farming area. If you?re spending a significant portion of your budget on your newspaper ad, you might want to put that money into other areas of advertising. You?re not getting the return on investment that you should from a newspaper ad.

In addition, a good real estate website should be generating many more leads than just five. Invest in a professional, fully-customized website and you will generate the bulk of your leads online. Once you?ve made the initial investment, your website will work for you 24 hours a day, 365 days a year. A truly professional website requires very little upkeep and maintenance on your part. This is fortunate, since you will be busy with all of the new clients who find you online.

Brett Miller is the founder of HoopJumper.com and has created the best lead generating real estate websites in the industry and helped hundreds of real estate professionals make the most of their Internet presence. Call 888-Hoop-Jumper for a complimentary web analysis today or visit http://www.HoopJumper.com to see how HoopJumper can help you grow your business.

Michigan To Hold Mass Foreclosure Sale

More than 250 homes in Michigan will be included in a mass auction, a testimony of hard times for the state and its residents.

Many Michigan homeowners have had a hard time keeping up with mortgage payments, partly due to devastating lay-offs in the auto industry. Michigan has seen a 25% increase in mortgage defaults in the last year, making it one of the hardest hit states in the country.

The homes up for auction are single-family bank-owned homes, condos and duplexes. The majority of the homes are located within 60 miles of Detroit. Prices are expected to be between $15,000 and $450,000.

Prospective bidders can go online to view the homes.

Across the country, defaults are currently on the rise. Industry experts say that the increases in interest rates, slowing appreciation and reversal of a formerly strong market has left many homeowners with little choice but to default.

Advisors have warned against many nontraditional loan options in the past few years. There are two main causes against low rate adjustable-rate mortgages and option ARMs. The first is that when the rate resets, the payment can often double in size. Many homeowners are stretching to get into the home in the first place. They find that they are unable to make the payment.

This is when the second factor comes into play. Due to the structuring of the mortgage -- where most, and with option ARMs all -- of the first years of payments go to the interest portion of the bill. Those who put little or no money down and haven't lived in the home for ten years are left with very little equity in the home. If the price hasn't had time to appreciate, they may be unable to sell the home for what they owe on it. With no money to bring to closing, they are forced to default on the mortgage.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

Wisconsin Lakefront Property

The value of land is of great importance since its quantity cannot be increased. To be in possession of any type of recreational land in America is a status symbol. In the Midwest alone there are more than 20 million people contending for the few remaining lakefront properties, as this property is turning into a rarity very quickly. Wisconsin lakefront properties are becoming hard to find, if not impossible. Properties with brooks, streams and small ponds are becoming scarce, and hence the request for attractive parcels is ever increasing.

As far as lakefront property is concerned, Wisconsin has a lot to offer in terms of variety and quality. Geneva Lake is the second-deepest lake in Wisconsin, and property on its shores is particularly popular. It provides a taste of splendid scenic beauty. This lakefront provides some of the best properties with a reasonably priced investment, and taxes are not too high.

There are other lakefront properties next to the No-Wake lakes, where one can enjoy camping, hunting, and fishing without any disturbances since the area around is extremely quiet. There are fly-fishing streams close by where one can experience canoeing and kayaking. Winnebago, Wisconsin's largest lake, offers some very beautiful lakefront properties which are charming and pristine. Apart from these, the Green Lake, which is the deepest and also one of the most gorgeous lakes of Wisconsin, has a few rare and expensive pieces of lakefront property. One can find some of the most magnificently clear views of the Green Lake. Peaceful waters and a shallow shore provide safety for children to swim.

For someone who is looking for a lifetime of tranquility and fun, Wisconsin lakefront property is the option to look out for.

Lakefront Property provides detailed information on Lakefront Property, Michigan Lakefront Property, Lakefront Property For Sale, Wisconsin Lakefront Property and more. Lakefront Property is affiliated with Lake Havasu City.

Miami: The Hollow City

A recent European immigrant I know expressed how happy he was in discovering a 9th floor, three-bedroom, 1.5 bath condo in Miami for $500,000.00. After my head stopped shaking and my eyes stopped blinking uncontrollably, I had to wonder if I had been living here too long. No matter how many times you say 500 thousand dollars, it still sounds like half-a-million dollars to me. Maybe where he's from, that's a good deal, but from where I come from, that's a whole lot of money for way too little-- no matter how great this town is. Thanks to the recent Miami Herald article The Price of Paradise, I'm reminded that property taxes on that much money will easily set you back $12,000.00 a year or $230 a week. Add that to your mortgage and insurance costs plus your car payment and it's insurance, and, suddenly, Miami is becoming a city where only the wealthy can afford to live. Like the article suggests, Miami may become a stratified community, where the rich live well, the poor get by, and the middle class get out.

Still, the downtown condos are selling. Downtown Miami is undergoing a building boom that rivals Beijing. I suspect, however, that many of the Miami condos have been bought on speculation with the hopes of making a quick profit on the investment. A small percentage may actually be retirement or second homes for the wealthy but most are beyond affordable for the middle class. Doctors, lawyers, and Indian Chiefs who own casinos might be able to live there, but where will everyone else live? In 2001, the average Miami home cost $158,000.00. Today, the median is $378,000.00. Yikes! No wonder it is nearly impossible to recruit new teachers. They can't find affordable housing in the county and, with the rising costs of gasoline, commuting from the next county is looking like a thing of the past.

With an estimated 40,000 condo units planned for downtown alone, I suspect Miami is becoming The Hollow City, nothing more than a pretty facade for movies with empty rooms overlooking one of the most beautiful places on earth.

D.C. Copeland is a writer and award-winning artist. When visiting Copeland's personal website and blog http://www.miamivisionblogarama.blogspot.com/, you will discover that Wayne Cochran is the Patron Saint and that many people consider it to be The Rodney Dangerfield of Blogs.