Monthly Archives: September 2019

Walking Tours Of Foreclosed Property – The Newest Trend In Real Estate

Foreclosure tours are fast becoming a means for investors and buyers to quickly and efficiently view current properties available. Many savvy investors and buyers know that now is the optimum time to invest in real estate. The opportunities for profitable purchases are better than they have been in many years. This is especially true since interest rates are at a 40 year low. Investors and buyers are recognizing that we at or near the bottom of a cycle!

In downtown areas such as San Diego, California, urban walking tours are not only the most efficient means to view ALL currently available property, but it is a fun way to get out and see the area as you would if you actually lived there; all while having the opportunity to build a deeper relationship with a seasoned real estate professional who is in a position to drastically help you maximize the real estate investment opportunities available today.

You may be looking to own property in a city/urban setting because of the lifestyle – it’s fun, hip and allows you to live a more green” life. Not that long ago it was very cost prohibitive to live in a city setting, but that isn’t true of today’s real estate market. What used to be out of reach is now not only accessible, but is a sound investment. It is now quite possible to live the life style you want at a price you can afford.

Walking tours give investors and buyers a chance to absorb all of the options available, which gives them all of the information necessary to make a well informed buying decision. Working with a real estate agent whose niche is foreclosed property means that you get the latest information and more reliable advice when working with the lending institutions who now hold the property you are interested in.

Walking tours are beginning to become available in most major cities. Look in your local paper or web directories for a tour in your area. You’ll be amazed at how many properties are available that you didn’t know about as most have no signage stating the property is in foreclosure.

Five Things Every Condominium Manager Should Know

When it comes to managing condominiums, there are several areas where every manager could improve. Also, novices should have a chance to learn the easy way about various homeowners association management techniques before getting caught up in rookie mistakes and having to learn the hard way. Condominium association management is not easy; however, it will be much easier with these five pieces of information that every condominium manager should know that are listed below.

First, it’s important to reduce as much liability as possible in as many areas as possible. Liability is a naughty word when it comes to condominium management. So the next time a contractor is hired to do any job on the property, it’s a good idea to reduce liability for any negligence on behalf of the contractor by giving as little direction as possible. Little amount of interaction between the manager and the contractor is best. That way, any issues that may arise will not be blamed on the manager but rather the contractor.

When it comes to negotiation tactics with the contractor in question, it’s important to negotiate hard. After all, the association deserves to be protected from unscrupulous contractors regarding payment and outcome of services. That’s why it’s important to get a bond and insist upon progress payments. Those who pay before services are rendered are those who will end up with a splitting headache as they try to get the services they already paid for taken care of.

Something that seems very straightforward and relatively simple is the contract. Simply put – read it. Those who do not read the contract for anything having to do with the condominium association are those who are putting the association at risk. Contracts are designed to clear up miscommunications; however, if they are not read in depth before the agreement is settled upon, a condominium association could end up in a whole world of trouble.

It’s important to use the contract for whatever services the condominium association is in need of to demand favorable contract terms. These legal documents can be used not only to protect people from unfortunate situations but also to demand favorable terms. It’s a very useful negotiation tool so use it to negotiate.

Remember also that it’s a buyer’s market. This means everything that can be done should be done in order to make the condominium attractive. The customer is always right – mostly because there’s always another complex that will stand by that sentiment. Remember that anyone can catch more bees with honey than with vinegar and the same is true for increasing occupancy in a condominium complex.

Condominium Living in Luxury

What is it like living in a condominium unit found in the city, such as those makati condo in Makati City or those high-rising condominiums found in Ortigas Center, Pasig City or in other business and commercial districts in the Philippines?

Living in Luxury According to many condominium residents, living in a condominium such as those found in business and commercial districts offers some of the best luxuries that many modern Filipinos are looking for. One of which is its accessibility to central workplaces as well as popular entertainment districts of the Philippines.

Because of its location, which is found in the heart of some of the busiest business and commercial districts in the country, residents can enjoy a luxury of living within walking distance from their workplaces, allowing them to avoid the usual hassles of rush hour. And because of its location, residents can also easily access popular -hang-out- places around the district such as malls and other popular entertainment areas.

According to many of its residents, though living in one of the busiest districts of the Philippines, these types of housing can still offer the privacy and peace that every Filipino deserve with their home. Another luxury is the view from their own windows of the whole city, particularly at night. These are some of reasons why condominiums, such as the many makati condo, became popular and modern among many Filipinos.

However, other than the luxury of its location, condominium residents have also experienced the luxury of living in one of the most highly maintained and secured housing in the Philippines. This is because condominiums usually have their own maintenance and security personnel.

Its maintenance personnel are usually tasked in maintaining all facilities found in the condominium, while its security personnel assures the safety of all their residents in their compound.

But there are several disadvantages of living in a condominium, in which many Filipino families found these types of housing unsuitable for their growing children. Although many condominiums in the city, such as the many makati condo, can offer a condominium unit which can accommodate a family, these normally lack the facilities that can accommodate their growing children’s needs.

Because of this, a number of new condominiums were established to offer family-oriented environment for a growing Filipino family. These new types of condominiums are known as condominium complexes.

A New Condominium Condominium complexes are normally found in the outskirts or even in the provinces. Because of its location, condominium complexes became popular for its peaceful environment as well as wide open spaces, making it a suitable type of housing for Filipino families. However, what made these types of housing more popular is because of its amenities including swimming pools, gyms, recreational parks, and playgrounds.

How To Make Real Estate Decisions That Work

You can make a lot of money through commercial real estate investments. However, you have to be patient. Take the time to research each property you’re considering as well as studying general commercial real estate principles. A lot of people just like yourself become successful at real estate investing by keeping informed and applying the tips in the following article. Stick to the advice presented below to help you succeed in the world of commercial real estate.

Make sure you have enough cash flow available for you from family, friends and any professional lenders accessible to you. Contracts should be devised that either provide you with a fixed rate of interest on the loan repayment, or provide them with a percentage of what you make from the property.ty.

Once you have signed a new lease for a property, your next priority should be your rent strategy. The effectiveness of your strategy will have a significant impact on the success of your new investment. Know how to plan for the rent you wish to charge before talking to a prospective tenant. This can help you keep targets and set a benchmark for your investment.

You need to do this so that all terms match the pro forma, and also the rent roll. If you do not look over these key terms, you could find a term that was not considered in the rent roll, which could cause a change in the pro forma.

Keep your commercial property occupied to pay the bills between tenants. Remember that if you have empty units, you have to take care of them. Maintenance costs on empty units can add up. If you have several properties open, you should ask yourself why, and attempt to correct the issues that may be driving out your tenants.

In order to learn more about the commercial real estate market, find a website that caters to investors of different skill levels. Having a great base of knowledge will give you the tools to complete every part of the buying process with confidence, leading to solid decision making.

It is critical when you are in the market for real estate that you know how to discern between a good deal and a not-so-good deal. People who deal in real estate on a professional level can spot a great deal immediately. They have their exit strategy already planned out, and therefore, they know when to quit a deal and when to stick it out. They have the experience to show them when repairs are necessary, how to correctly calculate their risk and which types of properties will help them to meet their financial goals.

When you are buying or selling commercial real estate, always negotiate. Let people know what you want and make sure you are asking for a realistic price.

Condominium Boards Can Kill Your Resale Value

A blind man knows when the sun is shining, and even a casual observer can spot a poorly operated condominium association. A lax set of rules and regulations, perceptually poor upkeep, higher than usual percentage of rentals, restrictive pet policies, and an overall lack of cache all can negatively effect an association and may be harmful to the resale value of any given condominium within the association.

The status quo of any existing association can be difficult to overturn, but often is the first step necessary in the process of making-over a condo association. Often, new board members, rules and regulations, and budgets need to be reviewed and implemented. Money must be spent for capital improvements on an ongoing basis. Condominium buildings are like cars, fine clothes, and offspring- they all need constant upkeep for optimal performance It would be reasonable to assume that Mr.Condo Neglect has the direct phone number to Mr. Lower Resale Values- and probably has him on speed-dial.

In addition, a new outside management company can be a breath of fresh air for an existing condominium association. A new set of eyes on the management of expenses, reviewing the cost of various amenities, actively pursuing delinquent accounts, and getting new bids on big ticket items like the master insurance policy can help strengthen the effectiveness of many condo associations.

Upgrading common elements is always essential to maintaining or recapturing the cache of any given condominium building. Curb appeal, and the impressions made by some of the common elements of any give condo association do indeed set a tone, and reflect upon a buyers perception. Often times, buyers have made up their mind as to whether or not they are interested in a condominium unit, prior to even stepping foot in that unit. In many cases, you can indeed judge a book by its cover. Old for Old Sake can indeed be a strong attraction to many buyers (think Pre-War Condos), but that old had better be in tip top shape, and those decisions are made by the condo board.

A lax condominium board that doesnt enforce rules, regulations, or have a system in place to limit the ratio of tenants to owners can indeed wreak havoc on the values of condos within that association. And from time to time, that association needs to review policies that best fits the needs and goals of condo owners. Condominium associations do indeed play a role in the value of its units, and many perspective buyers will take a good hard look at how any given association is operating in order to assess the value, or lack thereof for the condo being considered.

Current Mortgage Rates Canada

Mortgage rates in Canada are becoming lower than ever before, as the interest rates on a 7 year mortgage or loan sits at 5.25%. There are many online companies that offer the lowest of current mortgage rates Canada has to offer. Some of these online companies offer services such as tools and management information. These services also include a referral so that you are connected to loan officers that are competing for your business as a home buyer.

For the company Servus Credit Union, the lowest current mortgage rates Canada offers for a 10 year mortgage is 5.90%, however the very lowest current mortgage rates Canada offers is with the company FirstLine Mortgages, with a rate on a 10 year mortgage of 5.70%. The highest mortgage rates offered on a 10 year mortgage at this time is through Bank of Nova Scotia, with a whopping 6.95% APR on a closed term loan.

With the current mortgage rates Canada based companies offer, it is apparent why so many are trying to buy homes or refinance at this time. Refinancing to get the lower current mortgage rates, Canada businesses are seeing an influx of these homeowners trying to save money. Current mortgage rates are affected by whether they are fixed rate or variable rates.

Variable rate mortgages are directly affected by your lenders prime rate, and this is based solely on the Bank of Canada rate. Since Bank of Canada is the central bank, it uses its rates to keep the government funding and public debt at a minimum. The central bank sets short term interest rates and short term mortgage rates and lines of credit, even rates paid on investments and deposits. Fixed term rates like most long term mortgages are based on bond markets. Since a bond is a debt that a person promises to pay back along with interest, bonds are commonly given by a government to businesses such as Canada Savings Bonds. Any long term mortgage that is longer than 3 years is based on bond yields. Bond yields are as follows: the yield of a bond is the rate of return annually, most of the time shown as a percentage rate. These yields fluctuate based on inflation and unemployment and even stock market results. When bond yields are higher, the funding costs for banks go up and then the long term fixed rates are set. When lower bond yields are seen, the banks costs go down and there are lower long term mortgages.

The current mortgage rates Canada businesses offer are directly affected by the economy as well as the needs of Canadian government and the costs banks are facing. Deciding which type of mortgage you will use, fixed or variable rate, will mean a difference in the interest rates that are used for the mortgage. If you are refinancing, it is best to use a fixed rate mortgage. Your payments will stay the same on a regular basis, but you will have a higher interest rate. If you are more interested in saving money on payments, this is the route to take. If you are simply interested in a lower interest rate, it is best to refinance with a variable rate mortgage, but your monthly payments will vary based on the interest rate.

Dunedin Real Estate Your Dream Property Is Within Your Reach

Sometimes referred to as the southern gem, Dunedin is the South Islands second biggest city, characterised by a unique Scottish feel and architecture imposed on it during the time of New Zealands colonisation. Surround by beaches, forests and dramatic scenery, Dunedin is noted for its youthful and charismatic population being attracted by the educational and tertiary facilities contained within. With a population of just over 125,000, the city is one of the best preserved Victorian and Edwardian cities in the Southern Hemisphere. Becoming a desired location for students, families and businesses alike, the demand for Dunedin real estate is increasing at above average rates.

According to the latest Quotable Value New Zealand figures, southern Dunedin real estate figures have surged, recording the highest percentage increase in the country. The southern region extends from Waverley to Green Island, including the suburbs of St Kilda and St Clair. The figures illustrate that the area has experienced an increase in home values by 8.7% with an average sale price of $264,000. Likewise, Dunedin overall, showed a 4.9% increase in property values with the average sale price rising to over $276,000.

The increasing prices are a direct result of increasing demand. As many of the main centres in New Zealand are experiencing continued growth in house prices and valuations, Dunedin is presenting itself to many as an attractive option. With the average house price in New Zealand just a little under $410,000, properties in Dunedin represent real value in the marketplace where many families are struggling to find suitable and affordable housing options. According to Glenda Whitehead from QV Valuations, some of the increase in market activity in Dunedin is due to a rise in purchases by existing homeowners, who realise the benefits of purchasing prime real estate at well below national averages.

There are many advantages to purchasing Dunedin real estate, apart from the scenic and natural beauty that the city is surrounded by. With the security of tenure, you will be able to enjoy the cycle of the real estate market, accessing capital gain as the property naturally appreciates. If, like most kiwis, you enjoy a little do it yourself (DIY), then additional capital gains can be achieved through renovations. There is nothing like the sense of pride that comes with homeownership. The freedom and ability to personalise your property to suit your tastes and requirements has long been an aspiration of nearly all New Zealanders. However, with the current price hikes in property prices, renting is fast becoming a reality for many who cannot afford the deposit or repayments on their first home. However, Dunedin is offering the consumer real value and choice. Why not consider a move to a new place, where the people are friendly, the amenities are first class and most of all, your dream property is within your reach.

So What Exactly Is A Real Estate Bird Dog – Aka Property Locator

What is a Real Estate Bird Dog? AKA Property Locator

So what exactly is a Bird Dog / Property Locator? Bird Dogs, at least when used in the Real Estate lingo, are also known as Property Locators, Property Finders or Jobbers. They are the eyes and the ears of real estate investors that find properties for real estate investors to buy, properties they wouldnt be likely to find on their own.

Bird Dogs go out and find undervalued properties for real estate investors! Bird Dogs do not purchase the properties themselves; however they search neighborhoods, communities, counties, cities, and so on, looking for properties for real estate investors to buy. With a little experience, many real estate Bird Dogs advance to becoming a Wholesaler, which is actually taking control of a property (getting it under contract) and then selling it to investors.

So how does a real estate Bird Dog benefit from doing all the searching but not having to fork out a lot of moola? Investors pay Property Locators in cash when the Bird Dog finds a property the investor likes. These properties can be almost anything: single family houses, multiplexes, duplexes, apartment buildings, commercial buildings, or land.

Investors typically pay Bird Dogs what is called a Referral Fee of around $1000 or more. My personal opinion is that Bird Dogs should be paid a lot more than a mere $1000 if the deal they find makes an investor a lot of money. It should be more in the realm of 3 of the net profit the investor realizes. (Note: you need to check the laws in your state because in some of them it is illegal to pay referral fees.)

If you get good at property locating you might want to advance to the Wholesaler stage of real estate investing your reward from a deal can much more lucrative because you are doing a lot more work. Wholesalers actually gain control of the property by having some type of written agreement with the seller of the property. They then sell the contract to other investors with a wholesaling fee attached to it.

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.

Buying A Makati Condominium

Nowadays, people are choosing to rent or buy Makati condominiums versus buying or renting a house & lot in nearby cities.

This can be attributed to the fact that most people prefer to live in residential spaces requiring less maintenance, and they favor the proximity of Makati to key establishments in business such as work, popular lifestyle spots, schools and medical facilities. Add to this the ease of transportations routes and quick accessibility to most cities in the Metro.

Pricing is a concern with everyone whos ever bought a property in Makati. However a lot of developers have managed to meet the expectations of everyone from the different sectors of society from the young couple starting a family, a working student whose only got enough to pay for his or her rental/amortization, or an ofw who worked hard for years on end and is about to make his very first real estate investment. Theres a variety of Makati condominiums on the market catering to the purchasing power of the Filipino people. Not only that, banks have made it easier for the simple Juan to make a loan without selling his soul to the devil to make his down payment & monthly amortization.

Material wise, one has to be discriminating with the materials, design and finish as said on the brochure or contract given to you by the developer. Unfortunately, there are still some Makati condominiums who promise this and produce that whatever happened to following through with your claims. That is the reason when you are buying a Makati condominium, you must settle with a reliable developer who wont run out on you when the first signs of problem in your property strikes.

Now whether you make buy your Makati condominium for investment or residential purposes is up to you. Mind you, rental per square meter in Makati is pretty high as compared to other cities in the Metro. If you aim to sell it after a few years, you might also be surprised at the market value of your property as Makati land values have risen a thousand-fold over the past 50 years.