• Buying a Home with a Well What Your Real Estate Agent Should Know

    Real Estate 1Thinking of buying a home with a well? While you might be used to city water, 44% of households in the US are dependent on well water, with about 13% of them privately owned and operated, according to the National Ground Water Association. While wells can be a very reliable source of drinking water reliable source of drinking water, there is a learning curve about well ownership. Your real estate agent can be a valuable resource in this area as they will be able to get the documentation that confirms that the well conforms to all state and local ordinances and that it has been properly maintained. Without doing the proper due diligence, you might be positioned to quite literally throw your money into a hole in the ground.

    What to Expect from the Seller

    In many states, home sellers must pay for water tests and disclose the results to potential buyers. Smart owners will have an inspection done prior to putting the home on the market and use the results as a selling point. Where the law does not require inspections and testing, savvy buyers request a well inspection and water test as a contingency on offers to buy a property, as a well inspection is not included in the standard home inspection and requires a specialist. If the results do not prove favorable, you can cancel the sale or request the seller make things right.

    In the absence of an inspection prior to sale, you can find yourself with a costly problem.

    What to Look for when Buying a Home with a Well

    As a buyer, there are several things to consider when examining property that has a well.

    First of all, how does the water taste and look? If minerals or bacteria have leached into the water, you should notice that the taste and appearance of the water are off. This is a sign that you need the well inspected and the water tested for contaminants.

    Water problems are often dominant in an area. You can often find information about local water problems on the EPA website as well as from local testing companies. If there is a factory, an agricultural operation, or a coal mine near the property you are viewing, a lab might test for specific chemicals such as sulfide, nitrate, iron, chloride, or other chemicals related to the industry.

    Well owners should have maintenance records available to verify how old the well is, whether there are other old wells on the property, compliance with local codes, and past testing results. Seeing the past records will indicate how much time you have before you might need to replace the well, and alert you to other problems related to it.

    Since wells have an average life expectancy of 20-plus years, the home should be set on two or three acres of property to assure that you have enough acreage to have another well drilled in the future.

    The current well should be properly located on the property so that it is at least 100 feet away from backyard chicken or poultry coups and the nearest edge of the septic drainfield, and 50 feet away from the house and any pesticide applications. The wellhead should also be positioned so that rain water flows away from it.

    Get Help to Determine the Condition of the Well

    With the help of your real estate agent and well and water professionals, you should get a good idea of what to expect if you buy a specific property with a well. Many water quality issues can be handled with testing and installation of water treatment equipment, but some well problems require more extensive, costly repairs that might make buying a home with a well impractical.


  • Optimism for Canadian Commercial Real Estate Investment Market

    realestateIt might sound like the equivalent of a gold rush when any industry sector can show a 93% increase in one year but that’s exactly what happened with the Toronto commercial real estate market from 2009 to 2010. The increase for Canada averaged 48% overall with a total investment volume of 18.9 billion dollars, indicating healthy investor confidence and a strong economy. This article discusses the most up-to-date statistics in the commercial property investment market. According to the 2010 National Investment Report issued by CB Richard Ellis Limited (CBRE) the commercial property investment volume has climbed back to pre-2005 recession levels and totaled 18.9 billion dollars. Commercial property is proving to be an attractive investment which stimulates the rest of the economy. Office, industrial, and retail property in Canada have all attracted investor interest, with many companies deciding to upgrade to better properties before prices rise any further. This is fortunate for Canada in a time when most countries are still sinking in a worldwide depression. There is a banking crisis caused by the credit default swap swindle evidenced by the problems of European Union economies such as Greece, Ireland, Spain, and Portugal. Bailing banks out of their black hole of debt and sticking it on the taxpayer has been allowing banks to exert undue control over those countries’ infrastructures, resources, economies and governments. Whether you use the term recession or depression for the state of an economy depends largely on where you’re sitting. The lower classes have less money so inflation means the same amount of money buys less, so the economic pain is far greater than those who still have something left over and are not as devastated by things like unemployment and high interest rates. Every region in Canada showed a 2010 growth except for London Ontario. Other cities like Halifax could have showed bigger volumes if there was more investment product available, a factor that limits any real growth figures. The economy in such a region could be healthier than investment sales would indicate. In any case, these provide relatively strong yields compared to other investment types so Canadian commercial real estate is attracting foreign investors as well as domestic ones. In Vancouver there were 1,263 transactions totaling $2.9 billion dollars compared to Toronto, where 1,156 transactions represented $7.4 billion, so each of the commercial properties trades in Toronto were of higher value in terms of dollar amounts. Montreal also showed significantly greater sized amounts per transaction. The volume of $2.9 billion was a one-year increase of 52% yet the transaction increase was just 32%, showing the effect of large institutional deals like the Place Innovation and McGill College properties. Companies with both property management and asset management skills should thrive in the 2011 year if this trend continues. Such firms suffer or smile in relation to the state of the economy; investors are turning to Canada as a refuge from the collapsing economies of other countries. At a time when currency systems are under attack caution must be used. It remains to be seen which countries, if any, become insulated from the turmoil that is being fomented elsewhere to usher in a one world government and one world currency system. This is the goal of those who control world leaders, but to give control of the money supply to a private clique will lead to disaster since absolute power corrupts absolutely. A post-industrial feudal system will be the end result if such a thing were to occur.


  • Are You Really A Real Estate Investor

    Real Estate 2

    By accident, I believe that our industry does us all a disservice. How? By calling us real estate investors.
    How many of you call yourselves real estate investors? Lots. How many of you feel a little queasy when you introduce yourself as a real estate investor? (No need to confess you just need to recognize that feeling).

    Do you want to know why you may be feeling queasy? I’ll tell you. It’s because of the incongruent language we are using on ourselves. Let me prove it while helping bust the number one fear of real estate “investors”.

    What do you think of when you hear the word investor?
    I bet it’s “cash” or “credit”. Right? Maybe something that you feel that you don’t have. So if your business card declares you a real estate investor and you don’t have any cash, do you feel funny, or out of integrity, or incongruent? Maybe a little?

    On the other hand, what do you think of when you hear the word entrepreneur? The answers to this question usually range from “opportunist” to “opportunities” to “ideas” to “deals”, etc.

    The definition of an entrepreneur is someone who uses the time, talent and treasure of other people to realize their idea or vision. Read that again because this a subtle but important point about your real estate success.

    The number one limiting belief of real estate “investors” is “I cannot do this business because I have little cash and/or bad credit.” And if your subconscious holds this belief, guess how hard you are going to work to find deals. Guess how many deals your are likely to do. That’s right, you will do ZERO.

    Good news! This limiting belief is easily busted.
    You are not a real estate investor. You are a real estate entrepreneur.

    What’s the difference? Well, entrepreneurs bring the deals to the money. Investors bring the money to the deals.

    By DEFINITION, entrepreneurs are not expected to use their own cash. They are expected to raise cash for their deals and projects. That’s what we do. We find the one thing that is much more valuable than the cash which is the deals.

    Money is easy. Finding the deals is the part that requires a little work. But most real estate “investors” get hung up in marketing or making an offer because they don’t have the cash sitting in their checking account. They freeze.

    You need to declare yourself a “Real Estate Entrepreneur.” That’s what I do. At this stage of my life, it’s more fun being the entrepreneur and putting deals together. It’s my form of creativity. It’s my art. Being the investor and putting up the cash is OK but it’s kind of like being the guy that furnished the paint to Michelangelo. Nobody remembers the paint supply guy.


  • Can You Make Money Doing Part Time Real Estate?

    A lot of people will contend that the only way to make money working in real estate is to work in it full-time. After all, this provides you with the ability to stay on top of the market and make yourself as available as possible to potential clients, meaning you are better able to stay on top of the workload.

    However, this does not mean that it is impossible to make money as a part-time agent. There are just a few things that you need to be aware of and be willing to compromise to ensure that you can.

    Long Hours

    There are no two ways around it. If you are looking to work in real estate, even on a part-time basis, you will need to put in the hours. This means coming back from work and being able to go right back into work mode to make sure that any important matters are cleared up. This often means working the entire day through and into the weekends. It will also become much more difficult to take a vacation or schedule some time off, so you need to be prepared to make that sacrifice if you are looking to make money.

    Scheduling

    Scheduling appointments with clients, potential buyers and others is difficult when you are able to commit full time, so it is naturally going to get harder if you can only work certain hours. You may find that some clients are unwilling to work with you because you are not as available as they would like, plus you’re going to have to be extra diligent to make sure that you don’t have any scheduling conflicts. It’s a lot of work to stay on top of, so you need to make sure you have everything arranged as well as possible.

    Working With Brokers

    A broker is less likely to work with you if you aren’t committing all of your efforts to real estate. After all, they are made and broken by the efforts of their agents, so they would much rather have somebody working full time than part. However, that doesn’t mean it’s impossible to find a broker, particularly if you can prove that you are able to get results. Furthermore, some brokers are better suited to part-time agents and will be able to provide you with advice, so be sure to take your time and select one that is right for you.

    Working With Others

    You are going to have to be prepared to cut into your own profits a little bit if your scheduling gets so hectic that you are simply unable to fit all of your clients into the limited amount of time you have each day. This will often involve paying another agent a fee to do a job for you, which is obviously going cut into any money that you make on the property in question. Be sure to work this out with an agent in advance and agree terms, instead of waiting for it to happen and then panicking.

    Keep 100% Commission

    You Earned It – Now Keep It


  • 4 Secrets to a Faster Closing Process

    If you thought finding a home you love took a long time just wait until you begin the closing process. Many are under the impression that once a house is selected, they will be able to move in within a few days. This is rarely the case. Closing can be slow, and at times you may feel like you are completely stalled. Here are a few secrets to keeping the process moving along smoothly.

    1. Put Your Agent to Work – A real estate agent’s job is not just to show you homes and then sit back and wait to collect their commission check. No one can recognize potential problems to address as well as they can, especially if they have been in the industry for a while. You are paying your agent to work on your behalf, so don’t feel guilty about asking them to keep on top of things. They should be checking with all parties involved at least twice per week. If they identify a potential concern it can be addressed promptly before it becomes a lengthy delay

    2. Assign Deadlines to Everything – There is nothing more frustrating than a closing process being at a standstill because you are waiting for the current owner to handle repairs that they agreed to take care of. If you don’t assign deadlines to all major points of the closing agreements it can get dragged out for a long time.

    3. Don’t Make Changes to Your Finances – Just because you are pre-approved or pre-qualified does not mean you are in the clear. Keep your finances as stable as possible. This means no opening new lines of credit and make sure everything is paid on time. You also want to avoid applying for anything that would require a credit check.

    4. Check in with Your Lender – You may feel as though you should be your lender’s main priority, but you are not the only client who feels that way. Gathering all necessary documents ahead of time is helpful, but somewhere along the way, your lender will likely need some other random document or bit of information. Check in frequently to see how you can help.

    You probably had people tell you that the process was going to take a while, but you did not fully understand just how slow it could be until the transaction was started. Closing can drag, but if you use these tips, you can help to push it along a bit faster!


  • When Is the Best Time to Purchase a Home?

    There are a lot of differing opinions about the best time to purchase a home. The National Association of Realtors states that the majority of homes are bought and sold between April and July.

    In the late spring, families are preparing for the end of the school year and summer vacation. A lot of homeowners put their property on the market during the spring and summer months because they don’t want to move during the school year. Most sellers don’t want to move during the colder months when they may have to deal with autumn and winter storms.

    Late April and through the summer are the times you’re more likely to find a home that suits your criteria and your budget when there’s an abundance of homes for sale. Some homeowners want to make improvements on their property before they put it on the market and take advantage of holiday sales to purchase what they need to spruce up their home and make it more attractive to buyers.

    Data shows that homes that are listed in the spring have a higher sales rate, and a buyer is more likely to pay your asking price. A lot of potential buyers have gotten tax refunds and have funds for a down payment. In some cases, you can find homes within your budget between the Thanksgiving and Christmas holidays. Homes that are listed in November and December usually have price reductions because they didn’t sell at the buyer’s asking price earlier in the year.

    A good tip for house hunters is to make an offer on a home in January. After the Christmas holidays, most people aren’t actively searching for a new home. Most sellers are hesitant to list their homes in January. Due to inclement weather and the fact that a lot of potential buyers aren’t actively looking for a house, most homes don’t show very well. Since there’s less competition for homes, a seller is more likely to accept your offer.

    Another good time to buy a home is when it’s more financially sound for you to own rather than rent. You can make a comparison with a rental property and home for sale with similar features and in the same price range. Divide the asking price of the home for sale by the rent for one year of the other home.

    The best time to buy a home is when you’re financially stable. When your debt to income ratio is under control and if you’re free of debt, you may start thinking about buying a home. It helps if you can get pre-approved by a lender when you begin searching the real estate market. You should put money aside for a down payment as early as possible when you decide to buy a home. Ideally, a 20 percent down payment is preferable, but some lenders will approve you for a down payment of 10 percent.


  • Real Estate and Private Sector Signs Regulation, and Outdoor Sign Permits

    Are Real Estate Signs Allowed in State Highways?

    It will depend on the state you’re in, or how strict the enforcement of bootleg laws are.

    Directional signs are used along the highway directing traffic to an event, sale, or home for sale, and are often called “bootleg” signs, because they’re typically considered illegal (the name comes from the Prohibition Era of the US’ history when “bootlegged” liquor was sold across the US by illegal producers.

    So, technically, these are illegal signs, although the name is now more associated with the genre of sign than whether or not they’re actually legal or not.

    The thought behind the use of these signs is that state employees are not working on weekends and are likely not going to do anything about these illegal signs which are gone by Monday morning when they drive to work. Out of sight, out of mind.

    I have not heard of anyone having any issues with using bootleg signs, but I only know that in our area, they’re not illegal anyway, so you can put them out whenever as long as you’re not on the county or city or state right of way. And even then, people do it and the signs seem to be there for a long time, so I don’t think in our area there’s much enforcement.

    Is a Sign Permit Required to Advertise Outdoors?

    That depends on what type of outdoor advertising you’re doing. Typically, if a sign is temporary, like a banner or small bootleg sign, no permit or license is needed, at least not in most areas. You’ll want to check with your local sign police, er, I mean county or municipal building department to learn what your local code requires.

    Now, if you’re going to plant a billboard or a permanent business sign, then you’re going to want to contact a reputable local sign company and get these answers because these companies are the ones that deal directly with the county and city and state building departments and so they’re going to know where to find the information you need regarding your sign or other outdoor advertising.

    Who Pays for those Signs Owned by Private Businesses?

    One sure thing is that the Government won’t pay for signs owned by most private business owners. If they did, there would be a plethora of signs on the highway, and it would be a mess and the government would go more into the hole than it already is.

    There is an application process that you would need to go through with the state where you want your sign, and they only allow certain types of businesses to advertise on these signs, typically.

    The types of businesses are those that provide traveler services such as fuel stations, restaurants, and the like. So, unless your business is of this type, first, you’ll not be able to advertise on any Highway or Interstate signs, and if you are able to, you’ll pay for the sign. In my experience, the pricing is generally reasonable and most good sign shops can make the sign for you if they follow the state or federal specs for the signs.

    Check out more about various kinds if signs for indoor and outdoor use at: www.visigraph.com/signs-letters/

    Barry K. Brown has been in the Sign, Banner, Decal and Display Business for over 20 years. It isn’t what he thought he’d do with his life, but he says he knows too much now to do anything else!

    He has been marketing these products online since 1998, and the company he was general manager of in 1998 was the first sign company to be listed on Yahoo!


  • Real Estate Agent As The Key To Success In Real Estate Property Buying And Selling

    It is very important to remember that when you want to be successful in dealing with real estate market, you should work hand in hand with a real estate agent. Whether you are buying or selling, this person will be your helpful guide in the right decision about a property. The real estate will work in your behalf; he or she is your representative. The role portrayed by the agent is very paramount if you do not have enough experience in this field.

    If you find the right agent, you can be assured that your real estate involvement can be very rewarding. He would not only find you the desired property, he can even guide you in the right choice of property given two or more to choose from. However, finding the right agent may not be easy to find. Not all of the agents out there have the qualifications. To find the needed experienced and qualified agent, you must take into consideration several factors.

    Actually, a real estate agent is comparable to a salesperson. He is tasked to sell your property at the best price. The agent is not only involved in the selling process; you also need one when you are buying real estate property. Although these property consultants work both ways, you will realize that their main use is for selling properties. In order for your property to be sold, you should choose the agent that has sufficient training, experience and drive to come up with a sale. With these qualities, you would be able to give this agent your whole trust and confidence in deciding about the sale.

    In choosing the agent, you should be able to determine the area of experience of the chosen agent. So, check out if he has experience in the locality from where your property is located. His familiarity with the area will greatly help for the marketing of your for-sale property. His knowledge about the people in the area and the possibility in the rise and fall of property prices will be beneficial for the pricing and selling of the piece of real estate asset.

    Accessibility is another qualification that your hired real estate agent should possess. This means that he has time and he will at all times be available for any prospective client. The agent does not only show the photos of the property but he should be able to personally accompany interested buyer for ocular inspection of the property. He should be able to answer all the queries of the interested buyers. To summarize, your agent has sufficient time to attend to the client and that the client will consider the experience wholesome. This will give your property a positive or plus factor, all because the agent has discussed and explained the worthiness of buying the property.

    Experience and education are other important attributes that should be in the hired real estate agent. This will ensure that he can handle the transaction with ease, competence and perfection. And of course, it is best to deal with a person who had undergone college or university education. They tend to be more trustworthy and easier to deal with. You would want your agent to take control over the task and he should be able to make worthy decisions, no discount or reduction in price should be his thrust.

    Whenever you are selling a property, it is very essential that you should talk with an experienced real estate agent. You do not just hire any agent; you have to determine his qualifications. Important characteristics are being knowledgeable of real estate market specifically the area where your property is located. The availability any time as well as educational background and experience are valuable assets of the real estate agent, whether he or she is selling or buying. His competence and skill will be able to give the client trust on the property being sold.


  • Real Estate Bangalore Drawing Global Attention

    Investing in real estate market requires careful planning and research. The trends observed in one place may be completely different from another. The Real Estate Bangalore continues to show positive signs. Many construction companies and real estate developers are coming up with a variety of projects in Bangalore.The companies invest in both residential and commercial projects.The projects are designed to cater to the current requirements and are in different stages of construction, with some nearing completion, while some are ready for occupancy. The companies ensure that the projects are completed within the scheduled time.

    The city of Bangalore is renowned for its booming IT and ITES sector.This has a direct impact on the real estate trends in the area as well. Many professionals working in these companies prefer to choose Bangalore for their residence as it makes the travel to work easier.The various residential projects taking shape in Bangalore offer a variety of options, such as villas, apartments, duplex apartments, or independents houses.The city also offers excellent transportation facilities and it is reputed for its impressive infrastructure.The various residential projects have a variety of amenities for the convenience of the residents.

    Everyone dreams of owning a home.One can avail Home Loans In Delhi for making their dream a reality.Many financial institutions offer a variety of home loans for their clients. One can make enquiries about the home loans available. It is essential to study the terms and conditions of the loans carefully so that one can make the right decision about availing the loan.One needs to study the market and the current property values carefully before investing in either residential or commercial properties.One can consult the services of professional real estate agents to get an accurate estimate of the property values. This ensures that one does incur any loss in the market.

    Gurgaon is reputed for its abundant job market. There are several schools and colleges in the area.These are some of the reasons as to why many prefer to Buy Property In Gurgaon.There is high demand for both commercial and residential properties in Gurgaon.The residential properties are designed to include projects of different price ranges so that they are accessible to more people.One can find luxury apartments and villas as well that are equipped with modern amenities such as elevators, security systems, and independent parking spaces. One can visit the website of the companies to get a better idea about the various projects and their developments.


  • Homework To Complete Before Buying Real Estate

    Owning a home can be rewarding and fun, but it also requires a little bit of work. What also requires work is the process for getting yourself and your finances ready to buy a home. Many experts and Pebble Creek real estate agents suggest that you start working on these things even a year before you are planning to buy your home so that you are as prepared as you can be. More information can be found by visiting your local real estate agents office. Here are some essential homework assignments to complete before shopping for a home.

    Work On Your Credit Score

    Your ability to buy a home is going to be dependent on 3 major factors: your employment history, your annual income, and your credit score. This actually surprises a lot of people, and when they have decided to buy a house, they may find it more difficult because their credit score is not where it should be. The higher the credit score, the more you will be able to afford and the more favorable your loan terms will be. People with higher credit scores will typically pay less for their homes because they are paying less in interest and more towards the principle balance. Another important part of this factor is to avoid applying for or obtaining new credit for a year before you want to purchase a new home so that you can make sure to have a clean credit rating when the time comes.

    Save Up Some Money

    For some loans, you will need as much as 20% of the total sale price of the home you are buying saved up for a down payment in order to buy. Other loan programs may not require such a sizable amount, but either way, having some money saved up to put down towards the home of your dreams is a great idea. First of all, it will put you in a much stronger position than some of the other potential buyers who are not able to put anything down. Second, it will lower your principle balance for when you do get the home. Finally, it will help you qualify for a higher priced houseand possibly a nicer houseif you can take the down payment amount out of the equation and finance the remaining balance.

    Keep Your Job

    As mentioned above, one of the factors that is going to affect your ability to qualify for and purchase a home is your employment history. If you are in a job that you dont like and are thinking about quitting, you might want to reconsider your timeline if you are wanting to buy a house in the next few months. The lender of the loan you want to buy will want to make sure that you have a verifiable, steady source of income for as long as possible before buying a home. Buying a house can be a lot of work, and working on getting your finances in order can sometimes be as well. However, the investment will be worth it as you enjoy your new home for years to come. You can find more information by talking to a qualified Pebble Creek real estateagent.