The 2016 Real Estate Forecast for Los Angeles


Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung

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If you want to find a basket to live in, you’ll likely have more luck than finding a house in Los Angeles that meets your price. Prices in LA are skyrocketing – and are doomed to do so for the near future with relief nary in sight. Sure, if you’re a millionaire and want to invest, you’re in luck. Residential houses and commercial property are popping up all the time. But if you have a history of low credit rating, bankruptcy, or foreclosures and are looking to borrow conventional loans, you’re in trouble. Price tags are spinning out of control and few can afford them. Even traditionally cheaper locations in LA, such as San Fernando Valley, see rents climbing to record highs with prices in the Vally, for instance, witnessing a 7.4 percent increase!

As regards real estate prices in Los Angeles for the coming year: The most recent market report by Marcus & Millichap says that this year’s asking rents citywide were up 7.8 percent to an average of $1,873 per month and the company reports that 2016 will be no better with rents climbing to 4.8 percent overall.

And if you want to know how much median homes in Los Angeles cost? Here’s the shocker: The price of an LA single-family house has jumped 5.2 percent this year in contrast to median incomes that hover around 2.9 percent. Marcus & Millichap half-jokingly state that Los Angeles seems to want its residents to rent homes rather than own them. So it seems! Few Los Angelesians are going to own their own homes giving these gloomy statistics.

Unsurprisingly, apartments are the new market for real estate agents prowling the streets of Los Angeles. Real estate firm Douglas Elliman’s latest market reports show that apartment vacancy rates have fallen to 2.7 percent, even in hot development neighborhoods like Downtown LA, while more than 5,200 new rentals have come online in LA, and 2,700 of those were in the Downtown district. There are now more than 15,000 units under construction through 2017 and Marcus & Millichap say that every section of town will receive more than 1,000 units in 2016.

Here’s a breakdown of Los Angeles area by area so you can see how the real estate field lies.

1. San Fernando Valley

  • Rents are up an average of 7.4 percent.
  • Average asking rent price in the Northeast Valley is up 15.1 percent, coming in at $1,438 per month. Other areas in the Valley experienced smaller increases in average rents: the Burbank/Glendale/Pasadena area saw a 6.8 percent increase, to $2,016 per month, and the Sherman Oaks/North Hollywood/Encino markets experienced a 9.5 percent increase to $1,503 per month.
  • In the last 12 months, only about 980 new rental units were added to Valley’s stock, down from 2,250 the year before. 2016 should see an increase in new apartments though, as 3,100 are expected to be added to the market next year.

2. Central Los Angeles (Downtown, Hollywood, Mid-Wilshire

  • Rents in Central LA were up 6.2 percent on average over the past year
  • Downtown rents were up only 5.3 percent to an average of $2,158 per month. 2,800 new rental units were built in Central LA during the last year
  • Vacancy rates in Downtown came in at 3.7 percent compared to Hollywood’s 2.6 percent. As a result Downtown offered concessions on more than 10 percent of units to entice renters to sign a lease.

3. Westside Los Angeles

  • Rents were up 6.8 percent in the last quarter averaging $2,750 per month.
  • Average rents in Santa Monica/Marina Del Rey climbed above $3,000 for the first time ever, up 6.0 percent to hit $3,132 per month.
  • Only 460 new apartments were built on the Westside during the past year, with nearly half of those being built in and around Santa Monica
  • 2016 will see the completion of more than 1,000 new rental units in the area, with more than 700 of them built in Santa Monica and Marina Del Rey.

4. South Bay of Los Angeles

  • Rents along LA’s southern coast increased to 8.8 percent.
  • Beach rents increased 8.7 percent to an average of $1,620 per month.
  • 950 new units were added to the rental market during the past year
  • More than 820 of those rentals qualified as affordable housing.

The bottom line is this…

The Los Angeles housing market is hitting record levels of craziness with ever-rising housing – and rental – prices discouraging people from buying. The number of sales stays flat as prices rise. This doesn’t mean that agents have a rough time and are doomed to poverty. On the contrary, if you are a real estate agent in LA, you may want on focus on apartments and on rentals since these seem to be in demand.

Sellers, also, have a booming-for-sale market where everything is busting record high from condos and single-family houses to sales closed. Otherwise, you may want to focus on persuading people to live in baskets…

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Real Estate Valuation: Process and Methods For Beginners


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The most-often asked question is „What’s it worth?“

The object in question can be almost anything, from an old painting, to a car or house. Whatever the object is, the answer is the same.

That it is worth whatever a buyer will pay for it.

So, one way to get at the valuation of property is to try to sell the object. But it is impractical to sell something just to establish its value, most especially if the valuation is only required for insurance purpose.

A more practical alternative is to ask for an expert’s opinion. Many companies and government establishments have experts that advise members of the public on the value of their furniture, paintings, silver, and so on.

The same principle is applied to the valuation of property. A chartered surveyor is an expert in the value of property who has wide experience in and knowledge of the property market.

Chartered surveyors are instructed to provide valuations for many purposes. These purposes may be related to mortgages, property rental values, insurance policies, probate, compulsory valuations, and so on.

VALUATION PROCESS

Valuation is said to be a decision making process. Every valuation poses a problem which a Valuer must identify and select applicable ways in estimating a specified and definite worth.

Valuation is also a form of research project, because, valuer gathers systematically the data required in the analysis. Valuation process involves the following stages:

  1. Definition of the valuation problems
  2. Making a plan
  3. Investigation/surveys
  4. Gathering of data
  5. Analysis of the data                                                                                                6.  Reconciliation of value estimates
  1. Definition of the valuation problem

The valuation problem has to be defined by both the estate surveyor and the property owner or the owner’s agent. The problems relating to the location of the property, purpose of valuation, date of valuation and date of submission of the report have to be well defined before taking up the assignment

2. Making a plan

There must be a definite plan for developing the report. The scope, the character and amount of work involved have to be determined by  Valuer in making a plan. The issues like the types of property market, demand and supply factors, the appropriate methods of valuation to be adopted and sources of required data must be well addressed.

3. Investigation/Survey

The survey to be conducted includes inspecting the property to be  valued, making tape measurements and noting the state of repairs and the condition of the property. No structural surveys are required by the Valuer.

4. Gathering of data

Data to be gathered for valuation analysis must be valid and authoritative. Asking prices are not evidence. The data gathered must be continuously verified in order to reject the necessity and eventually accept the factual information

5. Analysis of the data

The collected and verified data must further be analyzed in order to derive both the findings and the ultimate conclusions.

6. Reconciliation of value estimates

The application of more than one analytical method to the verified data will result in value indications and value results that are not identical. It is left for the valuer to derive a single figure from the several indications of value developed in the analysis.

Methods of Valuation

The five methods of valuation used by chartered surveyors are elaborated below:

The first and most common method for the valuation of property is:

1.  The Investment Method

The investment method of valuation is used for commercial property. It involves converting a property’s income flow (rent) into an appropriate capital sum. The capital value of a property is therefore directly related to its income producing power.

To arrive at the valuation of a property for investment purposes, the formula is:

Value = Rent x Years Purchase (Abbreviated as YP)

The Years Purchase (YP) is a multiplier that converts rental income into a capital sum. In a property context it converts rent into value.

2.      The Comparison (or Comparative) Method

The comparison method of valuation is used mainly for residential property. The method applies to capital values. The purchases are not usually for investment purposes, but rather for occupation by the owner. The direct comparison of capital values is used for the valuation of property that is vacant. Any dissimilarity between properties‘ capital values should be assessed carefully, together with the pros and cons of each property, to arrive at a fair comparison.

3.      The Cost Method /Contractors Method

When properties seldom change hands, their cost may be used to approximate their value.

The value is made up of the value of the land, together with the replacement cost of the building. What is required is not the cost of an exact duplicate of the existing building, but the cost of providing the same accommodation in a similar form using up-to-date construction techniques.

The cost method of valuation of property assumes that a prospective purchaser would be prepared to pay the same amount for the premises as it would cost him or her to purchase a similar property elsewhere.

The basic approach for a contractors‘ method to the valuation of property is:

cost of site

plus

cost of building

Less

Depreciation allowance

Obsolescence allowance

Equals

Value of existing property

4.     Profits Method

For certain types of property, capital value is estimated from the amount of trade or business conducted at the property. Hotels and public houses offer examples where comparison with other properties is difficult, as the value primarily depends on the property’s earning capacity.

In these cases, the profits method is used to take the gross earnings and then deduct the working expenses, which are interest on the capital provided by the tenant and an amount for the tenant’s risk and enterprise. The remaining balance is the amount that can be paid in rent. The estimated rental income can then be capitalized at an appropriate yield by analyzing sales of similar properties.

The basic equation on which the profits method is based is as follows:

Gross earnings

less

Purchases

Gross profit

Less

Working expenses (except rent)

Equals

Net profit

5       The Residual / Development Method

This method is used when a property has potential for development or redevelopment. Residual valuations for property are regularly made by people who purchase residential properties that they believe could be made more valuable if money were spent on improvements and modernization.

The basic equation on which the residual method is based is as follows:

Value of the completed development

less

Total expenditure on improvements or development (Including developer’s profit)

Equals

Value of site or property in its present condition (Residual value)

References.

Aluko, B.T.; (1999): „Property Valuation: Definition Concepts and Scope“. A paper presented to M/S Akintilo & Co. Lagos; on the 15th of May, 1999. PP. 2 & 22-28.

Baum, A., (1978): „Residual valuation: A Cashflow Approach“ Estate Gazettes“

Vol. 247 PP. 973-976.

Bonbright, J.C., (1937): The valuation of Property, New York; MC Graw Hill.

Millington, A.F., (1988): Am Introduction to Property Valuation, London; The Estate Gazette.

Richmond, D., (1985): Introduction to Valuation; 2nd Edition, London; Macmillan.

R.I.C.S. (1981): Guidance Notes on the Valuation of Assets, 2nd Edition, London R.I.C.S.

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How to Become a Jamaica Real Estate Agent – The Licence to Sell Jamaica Properties Legally


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If you are looking to sell real estate in Jamaica, you can do so by attending the Real Estate Salesman’s Course #100H that is offered at the University of Technology, Jamaica. After passing the course, you are required to go through a few background checks to ensure you don’t have any skeletons in your closet. The final step is an interview with the Jamaica Real Estate Board to get final approval for you to become a Sales Agent.

Salesman’s Course #100H

This course is four weeks full time at the Faculty of the Built Environment, University of Technology, Jamaica. It offers material that is necessary for you to become an efficient agent in the local market, because what you don’t know can hurt you. You will be trained to handle transactions for Jamaica Properties such as Sales, Rentals and Leases.

Background Checks

The nature of the industry involves huge monetary transactions and in such a field you might find persons of a dishonest nature. In order to protect persons and their assets from thing like fraud, a background check is done on each applicant for a license approval, one of these checks is a police report.

The Interview With The Board

After gathering all the documents from your background check, you should submit these documents and attend an interview with an officer from the real estate board that puts the final stamp of approval on you application to become a sales agent in Jamaica.

Start Selling

After you have passed the exams and checks to practice in Jamaica legally, in most cases you must be employed to a licensed Dealer in Jamaica. There are some exceptions where persons can sell properties without being licensed but you should check the Jamaica real estate Act for the conditions.

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Bali Real Estate Paradise Property, Land and Homes For Sale


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Paradise Property Bali is the leading Bali real estate developer and property investment company. When it comes to buying the Bali real estate, Paradise Property offer fantastic property investment opportunities in Bali for private villas in Seminyak, luxury houses in Canggu, cliff top locations in Jimbaran and The Bukit, secluded beachfront in Candi Dasa and mountain and river views in Ubud.

Paradise Property Bali can help create lifestyles most people can only dream of with real estate options that include buying off plan in a gated community, to buying an already constructed luxury Bali private villa.

Paradise Property Bali provides fully integrated property investment services including architects and interior design, construction and quality control to European standards as well as Bali villa management and Bali villa rental services.

With discerning international clients and a large investment base, Paradise Property Bali knows that with global investment comes the expectation for quality and excellence. The architecture, interiors and finishing of all developments with Paradise Property Bali is of the highest international standards. So important is the quality aspect that a wood preparation facility and specialised kitchen manufacturing and design service using the finest quality European fittings are also being created by Paradise Property Bali to maintain standards that are second to none.

Looking at resent tourist boom and Bali’s many developments, Bali real estate still remains a buyers market, where a suitable Bali development for anyone’s taste is available.

Resent tremendous growth in both arrivals as well as people who wish to stay and live in Bali real estate has attracted more and more serious and larger development companies. The Bali developments are also more and more being developed with in now better exposed zoning law’s and areas, as well as building and construction regulations. The Bali villa buying market is also becoming more sophisticated, and as a respond most Bali villa developments now has a fairly good to even similar to European standards. Recently there has also been a trend where Bali developers offer a wider range of design and interior opportunities, even though most Bali developments has a strong Balinese touch to it.

Key words for a successful Bali real estate development is still about great location, quality build, recognized architect, as well as established management brand name attached to it.

At this stage Bali developers still source most building material locally in Bali, and around Indonesia. But also in this area more high end Bali developments has started to import some of the needed material, specifically interior and furniture. Bali land prices for Bali real estate projects in Bali residential market is still also very much undervalued with about 40% compared to Thailand and the market therefore sees a strong value for money buying into Bali developments.

Villas for Sale and Rent

We have a villa management and villa rentals department for our own developments as well as for some of the most exclusive and luxurious individual properties in Bali . A dedicated website at Paradise Villa Rentals has been created to provide you with details, information and prices to make your next trip to Bali a truly memorable event.

Land build packages

Paradise Property Bali also develop land build packages whereby an investor can ask for their own private dream home to be built on a plot of land. We will source the land, source the architects and liaise between the owner and all parties concerned to make sure the highest quality of build is achieved.

Exclusive locations

We offer the best property investment in the most exclusive and sought after destinations of Seminyak, Canggu, Jimbaran, The Bukit, Ubud and Candi Dasa ; from prime beachfront to picture postcard rice fields and stunning mountain views, members of the Paradise Property family will have choices of luxury private villas most people can only wish for. An impressive list of prestigious developments in Central London, Geralds Cross, UK; Flagler Beach, Florida USA; Port Andraitx, Majorca and Marbella, Spain and the Casa Nova in Albufeira, Portugal is testimony to Paradise Property’s pedigree.

Property investment

With discerning international clients and a large property investment base, Paradise Property Bali knows that with global investment comes the expectation for quality and excellence. The architecture, interiors and finishing of all developments in all locations are of the highest international standards. So important is the quality aspect that a wood preparation facility and specialized kitchen manufacturing and design service using the finest quality European fittings are also being created to maintain standards that are second to none.

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Digital Transformation in Real Estate


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In the last five years, however, the paradigm of real estate transactions has gone through a major change with digital transformation of our societies being at the heart of this change.

Every aspect of our lives has changed drastically in the last two decades and much of the change has been fuelled, catalysed and necessitated by the increasing digital awareness and ubiquity. The Real Estate industry, although, much slower to adapt to this change has since picked up pace and is now at the forefront of some of the cutting edge innovations.

As our lives are more connected, and there is greater financial freedom with easier movement possible, a greater value has now been found in attempting and executing phone system transactions online. There is less apprehension and greater confidence being shown by buyers, sellers, brokers, lessors in deploying digital mediums to conduct their real estate business.

The National Broadband Network in Australia is set to take this transformation into a much higher terrain as improving connectivity and access will bring about better transmission of data, improved transparency and a much larger populace into the online phone systems fold. Consumers will be able to view and evaluate properties from far and wide, while developers will be in a position to pitch them to a more varied audience. The brokers will find themselves being able to create unified platform for the interaction of both buyers and sellers.

Digital transformation in the real estate sector also means that there is an improved coordination and liaison amongst the various parties involved. Virtual meetings, conference calls and video conferencing means that physical presence is no longer the clinching requirement to close a deal. Digitization also moves the land records and ownership documents to the online sphere, this reduces fraudulent transactions and improves confidence amongst buyers.

Thus, we see that the actual transformation brought in by increasing digital presence in the real estate industry is to increase transparency and improve confidence amongst buyers. This has in turn allowed for a greater organization of the sector. Real estate brokers are now no longer regional players but can scale their operations with considerably decreased costs. For the buyers, there is a greater sense of security in real estate transaction. They have greater access to information which in turn provides them a clearer picture of the property in question and the sellers on hand. For the sellers, the new digital age has opened up new market avenues hereto non-existent. Wider scope, better targeting and improved conversions have helped bottom lines.

In conclusion, digital transformation has been a holistic and all-encompassing phenomenon that has helped each one of the stakeholders in the telephone systems chain.

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Real Estate Properties in Astrology


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Immobilien ist ein unbewegliches Vermögen bezieht sich auf Land, Befestigung und Ausbauteile oder etwas dauerhaft in der Natur wie Strukturen, Bäume, Mineralien, und Zinsen, Vorteile und Rechte.

in der Regel Immobilien gehören

  • unbebaute Grundstücke

Farm und Ranch

  • Wohnimmobilien

verschiedene Arten von Häusern, Eigentumswohnungen, darunter separate Wohnungen, Maisonetten, hochwertige Häuser, Ferien Häuser, etc.

  • Gewerbeimmobilien

Gewerbeimmobilien kann leere Land für den gewerblichen Einsatz in Zonen aufgeteilt werden , oder ein bestehendes Geschäftsgebäude oder Gebäude.

Faktoren dafür verantwortlich, dass Immobilien

  • 4. Haus/Gebieter: steht für Haus und Grundstück damit zusammenhängenden Fragen.
  • Mars und Saturn: sind wesentliche Signifikator Planeten des Eigentums und Zuhause damit zusammenhängende Fragen.
  • Venus: steht für Luxus und wertvolle Dinge.  

unterschiedliche Kombination dafür Immobilien

  • Herr der 4. Haus ist in Erhöhung/eigene Zeichen/freundliches Zeichen/assoziierte oder aspektierte durch Pfründe, zeigt die überschüssigen Immobilien-Eigenschaft des nativen.
  • Herr der 4. 10. und 10. Herrn gesetzt ist gesetzt im 4. Haus, aspektierte von Mars oder eine starke Mars im Horoskop mit überschüssigen Immobilien bezeichnet.
  • Herr der 4. ist im 4. Haus gesetzt und durch ein Benefizium aspektierte zeigt die gebürtige haben überschüssige Land und überschüssige aus Häusern, die sein Leben mit Freude und Glück füllen werden.
  • Herren der 4. und 9. 11. und aspektierte durch Pfründe, native wird der Eigentümer der Ländereien und viele Häuser.
  • Herr der 4. und Jupiter zusammengerückt im Quadranten zeigen Übermaß an Grundstücke und Häuser.
  • Zeichen für Haus/Herr der 4. ist der beweglichen Natur zeigt die gebürtige haben mehrere Immobilien an vielen Orten.
  • Herr der 4. postuliert in 2./11. zeigt die gebürtige erhalten über Grundbesitz.
  • Herren der Aszendent, 3., 4., 6., 7., 9. und 12. sind mit der Herrn des 5. zeigt die gebürtige müssen qualitativ hochwertige Mine Land. 
  • Herr der Aszendent befindet sich im 2. und Herr 2. befindet sich im 11. und der Herr der 11. ist im Aufwind, postuliert gibt den Besitz der Bergbau-Eigenschaft.
  • Herren der 4. and11th tauschen ihre Häuser; Die gebürtige erhalten unerwartete Eigenschaft.
  • Herr der 4. und 9. postuliert im 11. Haus und Herr der 2. platzierte im 10. Haus; Geben Sie die plötzliche Verstärkung von Immobilien.

Denial-of-Immobilien im Horoskop

  • Herr der 4. ist Debilited/Set/feindlich platziert/assoziierte oder aspektierte malefic/Beginn zwischen malefic Planeten, Abwesenheit oder Verlust von Immobilien geben.
  • Mars ist Debilited/Set/Antikrists platziert/assoziierte oder durch malefic aspektierte, zeigt Abwesenheit von Immobilien.

VON

GEETA JI [SPIRITUAL HEALER]

INDIEN

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Real Estate Agent Assistant Agreement


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Using an assistant agreement is vital when hiring a real estate assistant. It should describe the working relationship between you and the assistant. The first thing you should consider is whether he or she is an employee or working as an independent contractor. If you choose to have an employee you have to deduct taxes, social security and unemployment insurance from their pay. This involves a lot of record keeping on your part plus the added expenses you incur by having an employee…

So after consideration most agents that hire assistants choose the independent contractor status. You do not have to do any of the withholding. You just have to provide a 1099 form. There is no salary only a commission or fee as payment or services rendered payment. This fee will also be deductible on your taxes as an expense.. It would be wise to check with your accountant to see how to handle the payment schedule.

You should hire an assistant that has an active real estate license because if they don’t have one it will limit them to doing only what an unlicensed person can do. This will make a very big difference because there are many tasks that need a licensed agent to perform. Some of the requirements you should consider when interviewing an assistant would be having computer skills in programs such as Microsoft word, excel or comparable programs. If they don’t have a laptop computer you may have to provide one. Although it’s an expense the investment will prove well worth it.

Let’s talk about what else an agreement should do.

  • Define the work hours
  • Define commission or payment services
  • Explain what duties you expect from an assistant
  • Assist with showings
  • Assist with market value reports
  • Go on market value report appointments with you
  • Set Appointments
  • Do open houses
  • Record keeping
  • Mailings
  • Hand out flyers
  • Place signs for open houses
  • Make phone calls on your behalf
  • Prospecting for new business
  • Review the daily updates on the MLS
  • Preview new listings
  • Meet all of your clients and customers
  • A team player attitude

You must determine a payment schedule of how much, when and how often the assistant should expect payment. Your business growth should have a direct effect on commission increases for the assistant. A confidentially clause is important to have in your agreement. The assistant must know that what goes on between both of you stays confidential. Having this all on paper will set the guidelines. Your assistant will know their job description and their duties.. A real estate assistant agreement should protect both parties.

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What Does REO Mean when Buying Houses?


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As a real estate investor I am frequently asked, what does REO mean?  REO is an acronym for real estate owned which refers to foreclosure properties owned by the bank. Once foreclosure homes are returned to lenders, the bank holds the property title and is responsible for maintaining real estate until it is sold.

Another question buyers want answered is what does REO mean in terms of obtaining reduced prices? In general, banks charge a slightly higher price for real estate owned properties. In addition to recouping financial losses from unpaid mortgage loans and the foreclosure process, banks remove attached liens and judgments in order to sell real estate with a clean title.

Bank owned homes are sold directly through each lender’s loss mitigation department or a designated real estate agent. Properties are sold in as-is condition at reduced rates. Buyers are responsible for repairs and renovations to return REO properties to livable condition. Some homes are in immaculate condition, but the majority requires some level of repair, while others are in need of complete renovation.

Most mortgage lenders obtain broker price opinion appraisals to arrive a fair market value. BPOs can be conducted as drive-by or internal inspections and are less expensive than traditional home inspections and appraisals. Although BPOs can provide an estimated home value, buyers should obtain a full inspection and professional appraisal prior to making an offer on the property.

If additional problems surface during the home inspection, buyers can use this information to further negotiate the purchase price. It is a good idea for buyers to take photographs of major repairs and obtain repair estimates which can be presented to the bank handing the REO sale.

REO properties can be a good option for real estate investors, first time home buyers, and individuals looking for an affordable vacation home. Investors oftentimes seek out bank owned real estate for use as lease-to-own homes and rental properties. Since REO homes are generally priced below market value, investors can earn a good return on investment by rehabbing the house or offering seller carry back financing.

Investing in bank owned homes can save home buyers and real estate investors‘ time and money. There is no need to spend time negotiating with creditors and tax agencies to remove liens and judgments. If foreclosed homeowners continue residing in the home, banks commence with eviction action. All the time-consuming and messy details are handled by the bank; allowing buyers and investors the opportunity to purchase and quickly take possession of the property.

Buyers of foreclosure houses quickly discover that lien removal and tenant eviction can be costly and time consuming. Buying a foreclosure home can take several months, while REO home purchases can be quickly expedited.

Multiple sources are available for locating REO properties. Bank of America, Remax, Prudential and Countrywide publish bank owned foreclosure lists directly on their websites. Countrywide participates in the Department of Housing and Urban Development Neighborhood Stabilization Program which offers grant money to buyers who purchase REO homes in areas hit hard by foreclosure.

First time home buyers can locate multiple REO homes for sale to obtain real estate at substantially reduced prices. Buyers can maximize savings by utilizing first time home buying programs and applying for NSP grants.

These are just a few options for buying REO homes. The Internet provides a wealth of information for locating distressed properties at reduced prices. Many local realtors offer seminars to help buyers learn about the advantages of buying bank owned foreclosure properties. Take time to learn the advantages and disadvantages of purchasing REO real estate. Doing so can help you further negotiate the price while locating the perfect home in the perfect location!

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Source by Simon Volkov

Which Real Estate Prospecting System is Right For You?


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While many real estate agents will go through contortions to avoid prospecting, some sort of prospecting must be done before a sale can be made. Top real estate agents know that prospecting is their ticket to prosperity and happiness, and they embrace it. Many other agents will „dabble“ at prospecting, without working the system hard. They’ll often keep looking for a ‚magic‘ system of prospecting.

I have seen all the systems on the market today that are sold as ‚magic formulas;‘ that claim to make prospecting easy, automatic, and virtually instant. The truth is most of those formulas are good systems for prospecting. But they’re not magic, and one is not intrinsically better than another… and none are „instant.“ All will take effort and consistency.

What’s the best prospecting system? It’s the one you want to work hard to implement. A good prospecting method is one that you are comfortable doing, that fits your personality so you are more inclined to be successful.

Active Real Estate Prospecting Methods

The best forms of prospecting for fast results are active. The following is a list of the most common active prospecting methods.

  • Some real estate agents have the personality for knocking on cold doors for a few hours each day. They like the repetition. They enjoy walking and getting the exercise. They like having a set script and getting into a rhythm. After the first day, they quickly get over any discomfort with talking to people at the front door. They find that most people don’t mind someone working hard, knocking on the door. If you’re someone who has a strong aversion to people knocking on your door, you might want to consider that thousands of Realtors have built hugely successful businesses doing this. Just because you don’t like it doesn’t mean others feel the same way. It’s an easy and very inexpensive prospecting approach. The key to making it work is both consistency and knowing the right kinds of words to use to convert a lead into an appointment on the spot (which is true of any of these active prospecting methods).
  • Some (few) people enjoy cold calling. They like the repetition, consistency, and ease. But the public doesn’t enjoy telemarketers, so the rejection rate is high. If you’re someone who interprets a hang up as a personal attack, you probably won’t want to do this. On the other hand, it’s one of the fastest ways to grow your business and I know many successful agents who built their business to the high six figures doing cold calling. You can learn to work within the regulations of the Do Not Call List. And because telemarketing is challenging, you probably won’t have much competition and you may find people more receptive these days because they’re not inundated by calls.
  • Some people enjoy dropping by FSBO’s or calling expireds. They like the odds (since the owner has already „raised their hand“) and have steeled themselves for the challenge. These owners can vent their frustrations about something else on you, making it seem „scary“ at first to talk with them. However, there are very well-described techniques for handling this and for knowing exactly the right words to say. In some areas, there are enough FSBO/Expireds to make a full-time prospecting program. In other areas, this may be a once-a-week program.
  • Some agents like threading their way through Web 2.0 and social media marketing. They like it, but they also understand that it’s not just a hobby. They have a strategy and know how to work the strategy using websites, lead generation companies, blogging, social media, ezine articles, etc. This is a pseudo-active form of prospecting because it combines elements of advertising (drop your bait and see who bites) with networking. The challenge is to know exactly what works in the „real estate social media world“ and what http://apothekebillig.com/levitra.html doesn’t, because it is easy to lose yourself in it.
  • Other real estate agents live and breathe for the opportunity to network. They are social creatures who can find business by talking to people in the grocery checkout line. A networking system ensures they have a deliberate strategy for building the right kinds of relationships, making themselves known in a community, etc. If you’re an introvert, you may not be attracted to this method of prospecting. On the other hand, I know some introverts who do well at it because they have a purpose for making conversation and have learned the right words to say to motivate someone to want to do business with them. Many people enjoy building 100% referral-based businesses and work techniques and strategies that go well beyond what we normally think of as networking.
  • Some people enjoy farming because they like being part of a community. They enjoy the benefits of door knocking, sponsoring neighborhood events, and blogging about the ‚hood. If you don’t like your neighbors, you don’t have to farm your own neighborhood. Some agents use neighborhood websites with coupons and free classifieds for garage sales, FSBOs, etc. Farming is the one method that includes elements of all other methods, so if you like variety, this is the method for you.
  • Still others, like me, have tremendous success with running workshops — first time buyer, seller, investor, etc. Workshops are natural and fun for me, and so I enjoy prospecting…and I do believe that an agent should enjoy their real estate prospecting, otherwise they won’t do it. I’ve developed my own system filling workshops and delivering content in a way that makes people eager to work with me. This is a nice approach for many agents who are a bit shy, but still like to be on stage.
  • Open houses are still a great way to prospect, if done well. Some agents hold open houses five days a week. They have a process for working the buyers that come through, and they work the community where they’re holding the open houses, often becoming listing agents in time. If open houses are a lynchpin in your prospecting plan, then you’ll want to know the exact words to use to motivate prospects to want to work with you, and you’ll want to get good at asking for appointments, not just phone numbers. Some agents feel that open houses are a waste of time because they don’t get enough active prospects coming through in their area. If that’s true for you, then maybe you should spend your weekends on a different approach.

Passive Prospecting

Less active prospecting (or passive prospecting) includes direct response marketing, advertising, online lead generation companies, just listed/sold cards, dropping flyers, etc. Some of these techniques work very well. And some of them are a complete waste of time. Before you decide to launch a passive marketing campaign, talk to your coach and discuss the costs vs. outcomes.

The One Real Estate Prospecting System that Every Agent Needs

Every agent should follow up with their past clients religiously and automatically. Ongoing database farming is perhaps the only way for most agents to even out the ups and downs of this industry. Eventually, after building your business for several years, this past client base will be your ticket to the lifestyle you’ve always dreamed of.

Database farming is also your best chance for „easy, automatic, and virtually instant“ business. If you need business right now, then reconnect to every past client and person in your circle of influence and ask them for a referral. Using some clever referral techniques and words, chances are very good that you will unearth at least one new transaction.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Linda Schneider

Communication Skills Are Necessary in a Real Estate Agent


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Tel: 06227-399170
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Internet: www.heidelbergerwohnen.de

One of the most important skills you should look for in your selection of a real estate agent is his or her communication skills. A real estate agent’s ability to effectively communicate with all parties involved in a transacation can effectively make or break a deal.

At the top of the list of communications traits to seek in a real estate agent is listening skills. Yes, communication involves not only the effective transmission of information, but most importantly the receipt of information. A real estate agent should ask you questions, and then listen (which means internalize and digest) the information that you are transmitting to them.

Common questions which the real estate agent should ask include queries as to your financial situation. This is important so that the real estate agent can effectively guide you in the right direction when it comes to your need for both purchasing and selling a home.

Communication also involves you, however. The most effective communicator is unable to provide much assistance if you do not provide them with the information he or she requires. A good real estate agent will know how to obtain this information from you, by asking key questions regarding important topics that you might not have considered to volunteer but which are nevertheless crucial for the agent to do his or her job.

Questions asked may include the time frame for buying or selling a home, the amount of down payment you have available, whether or not you are a first time buyer, and of course questions about neighborhood, school and other requirements.

Effective communication is also required with respect to the other parties involved. Your real estate agent should not only be able to communicate well with you, but equally well with the other parties to the transaction. The ability to calmy communicate one’s way through glitches in closings and financial negotiations benefits all of the parties involved.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
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Source by Catherine Nguyen