What affects all real estate markets together are the interest rates. There is no single barometer to measure the entire housing industry in US.
So, while statistics calculations and economic factors are relevant, equally important is using one’s common sense. We must keep our eyes wide open and take a look around and see what is happening. Talking to real estate agents, investors and lenders in a particular area can be a big help to access a market.
These are certain issues one must consider while dealing in real estate.
One major issue facing corporate real estate managers is how to effectively manage the real estate assets in the current market environment.
Secondly, real estate agents provide information about utilities, zoning, schools etc. But two common issues a buyer faces while buying are-
i. Will the property provide the right environment we want for a home?
ii. Will the property have a good resale value when we are ready to sell?
Another important issue that any buyer/investor faces is the legal issue. Real estate laws vary from state to state. One must consult an attorney licensed to practice law in the state in which the property is located.
At times, the property a buyer is seeking is available but not properly advertised. It may take you some time and effort to search for and locate the right property.
The important issue of finance. We must know our financial reserves plus our borrowing capacity. If we know about our current savings, income and debt, then we can take help from lenders; banks and mortgage companies, which offer some choices according to your financial capability.
In America, some real estate association and commissions have sponsored regulation that require all real estate brokers to provide a minimum level of services which forces sellers to buy services they do not want or need.
There is the issue of rebates on transaction fees. Some states in America allow rebates of commissions or fees on real estate transactions but some states have legislated regulations which prohibit rebates.
Next is the issue of consumer participation. The consumer federation of America released a study that real estate boards and commissions are dominated by real estate practitioners and they recommended greater participation by consumers; which is opposed by practitioners – this works against the interest of ordinary buyers and sellers.
Last but not the least, a lot of hoopla has been floating around in the news media about the ‘bubble’ theory of real estate and that the real estate market is going to burst – this may have a psychological impact on the potential buyer or seller.
When buying a vacation home abroad there are a number of key considerations to bear in mind to avoid some of the traps and pitfalls sometimes associated with buying long distance and in an unfamiliar country. With these 5 tips for overseas vacation home buying success you can quickly cut a swathe through the research process and move towards securing the dream swiftly and securely.
Tip One – Learn the Rules and Regulations
Different countries have different rules relating to the right or otherwise of foreign citizens to own the freehold title to immovable property. Some widely publicised destinations don't allow foreigners to directly own the land on which their property sits (Bulgaria) or more than one property (Cyprus) for example, and some countries are less economically or politically stable than your own which can mean that real estate related rules and regulations may change in the future. Make sure you're comfortable with the workings of the country you're considering buying a vacation home in, and if in doubt seek professional advice about that country and the ambitions you hold for owning a holiday home in it.
Tip Two - Good Investment/Bad Investment
If you're buying a vacation home with a hope that it will go up in value and be not only a family retreat but a great asset, know that real estate, just like any investment commodity, can go down in value as well as up. Furthermore not all countries have a real estate economy the same as the one in your own country – a little research would be wise into the historic nature of the property market in your country of choice as well as predictions for its future. While such data is not a direct indication of how well your investment will perform it will arm you with more data to hopefully make your decisions easier.
Tip Three - Title Deeds and Legalities
Legal systems and the title deed registration process differ from country to country therefore know your legal rights and try and find out about the essential searches, surveys and title deed checks that need to be conducted before you should commit to buying your overseas vacation home. Never enter into any form of contractual agreement without the direct assistance of an independent lawyer and never accept someone's word that a vacation home has its permissions and title deeds valid and up to date. Insist on seeing and checking all important facts and data before signing on the dotted line.
Tip Four - Accessibility and Desirability
If you're thinking about making an income from your vacation home or even hoping to holiday in it yourself regularly, one of the most important factors to bear in mind is the accessibility or otherwise of your vacation home. If your real estate is difficult to reach, with many miles to traverse and complicated and expensive plane journeys to plan, then it will just become a less desirable commodity over time. While a vacation involves getting away from it all and escaping every day life, a vacation destination and home should be easy and affordable to reach.
Tip Five - Enlisting Assistance
Consider enlisting the help of a reputable real estate agent, an independent lawyer and if you want to make money from your vacation home, a property management service. Such professionals can save you time, effort and money and they can make the whole process of buying and owning a vacation home that much simpler. Make sure you take references, examine credentials and see qualifications before employing anyone to assist you however, and if at all possible seek recommendations because anyone who does a good job will always get good press!
Labels: One Step Fordward Property
If you are wondering what Home Staging (or House Fluffing) is all about, here is a definition for you: MSN Encarta dictionary defines Home Staging as the act of "beautifying a home for sale: cleaning, repairing and updating the decor and furnishings of an older home to make it more attractive when shown to potential buyers." Actually, I believe that ANY home can use some staging before being put on the market. Remember, the way we live in a home and the way we want to sell a property are two completely different things. When we sell a property, there is no room for emotions - after all, it's probably our biggest financial investment and, so, we want the biggest possible return on it!
The concept dates from 1970s, when a
The logic is strikingly simple: when you decide to sell your used car, wouldn't you clean, wash and fix it up before reselling it? You should do the same for your house, which is probably your biggest investment and presents an opportunity for a biggest return.
First impressions count for a lot, especially today, when most buyers pre-select the properties they are interested in on Internet. If your photos don't show your house at its best, you are probably missing out on dozens of potential buyers. The same is true for the visitors - when they come, make them feel «at home», create that first impression which will make them fall for YOUR house.
Statistics vary from marketplace to marketplace but, on average, a staged home can sell 30%-50% faster and for 2%-10% more money than a comparable unstaged home. So, a few hundred dollars invested can bring you back thousands! And a home staging consultation costs a lot less than a first price reduction on the property.
A professional Staging consultant looks at your property with a buyer's eye and will recommend some easy and inexpensive solutions to enhance its value - such as decluttering, depersonalizing, and reorganizing your furniture and artwork.
The end result: your house «shows» better than its competition and it sell faster and for more money!
Labels: Real Estate
Home Staging: Professional Service Slashes Time and Increases Profit
0 comments Posted by Djenggot at 7:59 AMIt's time to put your home on the market. You've hired a real estate agent. You've signed all the papers. You've been given the typical remarks about keeping your home neat and ready for potential buyers. And now you wait. Or do you?
Instead of waiting the typical 4+ months and then taking a reduced price on your home, why not invest in a home staging professional! Doing so will drastically decrease the amount of time your home spends on the market - up to 20 times faster - as well as increase the amount you get for your home - six percent over listing is typical!
What is Home Staging?
Home staging is simply the art of preparing your home for sale. Basically, there are five steps to home staging:
- Cleaning
- Getting rid of clutter
- Depersonalizing
- Decorating and accessorizing
- Maintaining
In days gone by, home staging consisted of advice by your real estate agent to "clean up" and "de-clutter." If you had a savvy agent, you may have even been told to add fresh flowers or fresh linens in the bathroom. However, being a real estate professional is not the same thing as being a design professional.
Professional home stagers know exactly what to do to create the right atmosphere. They not only tell you to de-clutter, but know exactly what to do in order to create a clutter free environment. They can walk through your home and know immediately if you need to remove or rearrange furniture. With just a quick visit, they can tell you what will enhance your homes curb appeal.
Why Does Home Staging Matter?
When it comes to sales, first impressions are everything. A potential homebuyer will often decide to enter a home based on the outside appearance. And once inside, they make up their mind about a home within about 10 seconds. This means that you have 10 seconds to create an atmosphere that entices the imagination and creates a longing in the buyer.
Home staging is the way to create that desire and longing. Through home staging, you can put your home's best foot forward.
Professional or Do-It-Yourself?
Professional home staging services are not free and many people believe that they can save money by doing it themselves. However, there are many pitfalls to the "do-it-yourself" mentality.
1. You obviously like the look of your home or you wouldn't have created it, right? Making changes can be downright difficult when you love your things and feel that your home is comfortable "as is." A professional can help you step back and see your home in the same way that a potential buyer will see it. They help you take yourself out of the home so that the homebuyers can see themselves in it!
2. What do you know about color, lighting, and traffic flow? If you are like most people, you know very little about these things. Although the colors or the traffic pattern worked for you and your family, a professional can see issues that will keep your home from having that "instant appeal." Remember, buyers are not buying "your" house - they are buying "their" house!
3. Can you walk through your home and instantly list 10 inexpensive ways to increase the value of your home? Home stagers can. They know how to make the changes in a timely manner so that you can get your home on the market quickly. They view your home from the buyer's point of view and can tell you what to store, what to keep, what to move, and what will add that pizzazz that will make your home sell.
Is Home Staging Cost Effective?
One of the most important things you can do to sell your home quickly and for the highest possible price is to "stage" it. The proof is in the pudding:
- According to the National Association of Realtors, for every dollar sellers put into staging, they get $4 back
- The average increase over the listing price is 6.32%. On a $500,000 house, that is nearly $32,000 and will more than pay for your professional real estate agent! Think of home staging as a way to get your real estate agent for free!
A real estate professional has the knowledge, experience, and qualifications to sell your home. A home stager has the knowledge, experience, and qualifications to prepare your home for the sale. Although professional services are not free, the cost of the services more than exceeds the benefits received!
Selling your home can be a trying time. Why wouldn't you want to decrease the time your home spends on the market while increasing your sales price? Relying on a home stager can make all the difference.
Labels: Real Estate
