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Posts Tagged ‘Estate’

Probate Properties: Blessing or Burden?

Probate properties are real estate under review by probate courts. A judge will review Wills of deceased property owners to check authenticity and to honor the decedent’s final wishes. Probate properties can be sold by the legal heirs while the property is being probated contingent on court approval. Probate properties can remain in courts for years. Taxes, home-owner’s insurance and maintenance deplete beneficiaries’ inheritance. With attorneys billing by the hour and interest accumulating on debts, time is money. After estate debts, court fees and attorneys’ costs heirs can be left with nothing. Selling probate properties can expedite the process and deliver more money to loved ones.If heirs are in agreement, the estate administrator can authorized the sale of the property. Investors submit a bid for the property, and in some cases, there might be multiple bids.The estate administrator is the contact person. This person could be a family member, trusted friend or an attorney appointed by the court judge if none is named in the Will. This administrator is responsible for contacting and locating creditors, listing a detailed inventory of every personal possession, getting appraisals, mediating family disputes over family heirlooms and more all while grieving. Selling probate properties alleviates an estate administrator’s burdens. Probate properties have usually fallen into disrepair. The deceased, especially if elderly, might not have had the funds or ability to maintain the home. These properties are usually sold as-is to avoid repair costs charged to the estate.   Purchasing probate properties requires investors to invest time and legwork. Prospective buyers must go to the county courthouse to look at copies of probate documents. If the deceased did not have a Last Will and Testament, the estate administrator has to submit a list of assets to the court along with estimated values and their name and contact information. This is public information and can be accessed by anyone, but it can be cumbersome to research. The average real estate investor does not know the legal processes involved in purchasing probate properties. Most investors prefer foreclosed homes to avoid the hassles of working with the court and attorneys. With less motivated buyers, probate properties can be difficult to sell.

A specialist experienced in working with probate properties can guide heirs or estate administrators through the procedures. Simon Volkov has the experience and knowledge to speed up the process. His team can navigate through the court’s red tape allowing heirs to enjoy the proceeds now rather than watching them dwindle away by court fees.More information is available by filling out one simple form. A specialist will contact you within 48 hours to discuss how Simon Volkov can help you. Don’t let the attorneys and courts have all of your inheritance. Go now and fill out the probate form to relieve the burden of dealing with probate properties.

A Mixed Year for Asian Residential Property in 2006, According to Global Property Guide

March 26th, 2010 CheapFlatsInLondon No comments

The winners: Singapore, South Korea and the Philippines

Singapore experienced Asia’s highest residential property price increases during 2006, with 9.5% real (inflation-adjusted) house price rises.

There were also 9.3% real house price increases in South Korea, and 9.1% real house price increases in the Philippines. These were seen in the Global Property Guide House Price Indices, the biggest collection of residential property price indices.

Singapore’s strong 2006 GDP growth rate, at 7.9%, pushed up demand for Singapore property. The Urban Redevelopment Authority (URA) private residential property price index rose by 10% (9.5% in real terms) in 2006.

South Korea also saw a strong rebound in property prices, despite continued efforts by the government to depress the market. The Kookmin Bank’s house price index rose 11.6% in Dec. 2006 (9.3% in real terms) from a year earlier.

In the Philippines, strong economic growth and reduced inflation contributed to the continued recovery of the real estate sector. In addition, demand from Overseas Filipino Workers (OFWs) and dual citizens has been strong, pushing prices up. Luxury condominium prices in the Philippines rose 15% (9% in real terms) in 2006, following an 11% nominal price rise in 2005, according to Colliers International.Japan and Hong Kong are laggards

Japan’s residential property market continued to fall in 2006, despite repeated attempts by the media to portray the market as rallying. Nevertheless, the residential urban land price index registered a smaller fall in 2006 (-2.8%) compared to last year (-4.7%).

Hong Kong’s property market turned negative (-2.13%) in 2006, after impressive gains in 2004 (27%) and 2005 (8%). Higher interest rates in the US, mirrored directly in Hong Kong, were a major cause of the downturn.

Taiwan’s messy political crisis seems to have frozen residential prices, with 0% appreciation during 2006. In real terms, Taiwan experienced a decline in house prices during 2006 (-1.7%). During three years prior to the second quarter of 2006, Taiwan’s Sinyi house price index rose 17%.

In Malaysia, house prices did not to keep pace with inflation. Malaysian house prices today are at the same level as 1995, in real terms.

Thailand saw the end of ending its strong post-Asian crisis property market recovery, as the political crisis impacted the economy. House prices moved up just 1.9% in 2006 (-2.4% in real terms), after 2005’s price increase of 7% (1.5% in real terms), and 2004’s rise of 9% (6% in real terms).

Indonesia managed to reduce 4Q 2006 inflation to 6% from 16% during the first three quarters. With the house price index registering a 6.6% increase in 2006; house prices rose by 0.5% in real terms.The 2007 elections – risks abound

2007 is an election year in Korea, Taiwan, and the Philippines, and political uncertainty is likely to increase. There will also be elections in Japan and Hong Kong, but they are unlikely to have much impact on the real estate market. In Thailand, uncertainty will increase if elections are not called. The Philippines. A victory for President Arroyo’s party in the upcoming Congressional elections would be positive for real estate. Election years in the Philippines bring money inflows, but also increased uncertainty. But if Arroyo wins enough seats in Congress she will push constitutional change, removing constitutional limits on foreign ownership of real estate and companies – good for real estate. South Korea. The economic interventionism of left-of-center President Roh Moo-hyun has been damaging for Korea’s housing market. His support is crumbling, and a less interventionist president may be elected in December. But even if the opposition Grand National Party wins, excessive government intervention in the housing market has a very long history in South Korea.Taiwan. Parliamentary elections at end-2007 will provide a strong lead on whether the Kuomintang (KMT) can regain control of the presidency in 2008 from the Democratic Progressive Party (DPP). President Chen Shui-bian’s two terms have largely been spent on keeping him from being ousted. Significant banking and tax reforms have been held hostage by politics. Japan. Half of the seats in the upper house will be contested in July. Seats held by the Liberal Democratic Party (LDP) may be reduced, risking its reform agenda. These seats were won with the help of former prime minister and popular reformist Junichiro Koizumi. Hong Kong. Donald Tsang is up for re-election as chief executive where elections are still largely ceremonial and Beijing’s anointment is the only significant factor. Pro-democracy campaigners are hoping and pushing for reforms to full democracy and Mr. Tsang’s failure to push for constitutional reforms in 2005 means that this will be his last term.Thailand. The sooner elections are called, and Thailand is returned to democracy, the better it will be for the property market and the economy as a whole. The fate of Thailand’s property market hinges on the junta. If the junta prolongs military rule, the market will suffer.

The Global Property Guide sees inflation risks to be minimal in Asia in 2006. But other risks threaten the real estate market, particularly the re-emergence of bird flu in several countries, Indonesia in particular.

Finding The Orange County Home Buyers – Our 10% Theory For Real Estate Sales

Orange County, California homebuyers are certainly not as plentiful as they were for the last six or seven years. If anybody has picked up a newspaper recently, they are well aware of the headlines that that would like them to believe that absolutely no homes in Orange County have been sold in the past twelve months! Headlines such as “Record Foreclosures”, “Flat Sales”, “Prices Falling”, have been doing enough damage on their own, to speak nothing of some rather famous pundits and authors adhering to a lazy broad brush generalizations in stating things like “Don’t buy any real estate for at least a few more years!” Stating things as blatant as this is not only irresponsible, but it just could not be any further from the truth! Homes are still being sold, and buyers are still actively looking for houses in Orange County. The question is how to find them.

Perceptions Of Real Estate In Orange County

The average Orange County home buyer has perceptions of the market and the sellers of the real estate have perceptions as well. People looking at purchasing the Orange County real estate are often told that it is a buyers market, all the sellers are in foreclosure, and that they really should wait more as prices will come down. The owners of Orange County real estate have some perceptions of their own. They usually believe that the buyers have magically disappeared, the ones that do exist are all trying to make low ball offers, and that if they just wait, the prices will come back.

The Reality of Orange County Realty

Obviously, we have some discrepancies of opinion between the two sides! The fact is that real estate continues to sell throughout most of Orange County, albeit at a slower pace than two years ago. Real estate always has been and always will be a local business, and by local we mean zip code, neighborhood, or even street specific. It is completely normal to see a rapidly slipping market on one side of the street, while just on the other side, sales continue to chug along.

While Orange County real estate statistics remains rooted at a local level, there are some general concepts that can be applied across the county. One such concept is what we call the top percentage principle. Our principle states that only a certain number, or percentage, of homes will sell each month within a specific neighborhood, and a house will not sell until it enters into that top percentage of real or perceived “deals.” For example, lets say the top percentage in a certain neighborhood is 10%. This means that if a home owner in the area wants to sell their home, they will need to be in the top 10% of real or perceived “deals” within that area in order to get it sold. If they are not, they will need to break into the top 10% of deals for next month or the home will still not sell. The actual percentage number will fluctuate with area and time, but the concept itself will hold steady.

Sales volume is not the only factor that should be measured at a local level. Home prices throughout Orange County are also fluctuating zip code to zip code. Even though its beyond the scope of this post, we can provide home buyers with many examples of areas in the county that are not in a price decline.

What it all means to Orange County home buyers and sellers

Sellers:

For sellers of the local real estate, the most important thing they can do is get into that top percentage of homes that are selling, and get there quickly! This can be done a few ways, but remember first that value is just as important as tangible value. Perceived and tangible value can be created by a combination of the proper marketing, benefits, and competitive pricing. More often than not, home sellers do not mind the first two factors, but find the third to be excruciatingly painful. Despite the pain levels, Orange County real estate owners need to have their Realtors evaluate the market and get their property priced according to what has sold this month. This needs to be done quickly because time is not the cure when new listing are coming up every day making it tougher and tougher each month to get into that top percentage.

As a seller of Orange County real estate, if your saying things like “I can just wait for the right buyer/market”, “I don’t really need to sell”, or “I need xxx dollars despite what the research says” our best advice for the market is to just get out. This truly is not a time for unmotivated sellers to “play the market” and just see if they can get some unjustifiable price. For motivated sellers who really want to sell, careful adherence to our top percentage principle will enable them to find the buyers and ultimately get their Orange County home sold.

Buyers:

Orange County home buyers also need to understand a few things about the current market. Despite what the headlines read, the best deals on the market are selling, and often selling fast. To illustrate this point, we operate a section on our website that we call the Orange County hot property of the week. In it, we post some of the best deals to be found on property in all types of price ranges. As of this date, we need to update our section at least every week and a half or our site is outdated as these good deals are just not available. This speaks volumes as to the health of the market!

It is true that there are many properties on the market in Orange County, and as we all know, many of them are still grossly overpriced. Some sellers have gotten ahead of the curve and offered attractive properties at very competitive prices. These are the properties that fit into our top percentage principle. Now then, just because a limited number of homes are actually selling, and some of them may be distress sales, like foreclosures, it does not mean buyers will be able to buy the homes for pennies on the dollar. This concept is best explained in our 6 part write-up on our website.

Basically, if Orange County home shoppers want to become Orange County home owners, and do so by finding a good deal, they had better have good help, reasonable expectations, and be able to move quickly. The best way to do this is to let a local real estate team help in finding these good homes, and the best way to do that is to use our home finder service where they just tell us a little about their needs, and we custom build a home search campaign around those needs for free! Best of luck and happy hunting.

Insider’s guide to bargain real estate: The complete guide to buying properties below market value (Unknown Binding)

January 26th, 2010 CheapFlatsInLondon No comments

Insider's guide to bargain real estate: The complete guide to buying properties below market valueNo description for this product could be found, but have a look over at Amazon for reviews and other information.

Niagara of Capital: How Global Capital Has Transformed Housing and Real Estate Markets (Paperback)

January 25th, 2010 CheapFlatsInLondon No comments

Niagara of Capital: How Global Capital Has Transformed Housing and Real Estate Markets

Review

“Timely, considering the dramatic slump in the American housing market and the global credit crunch.”  —Planning magazine

Niagara of Capital: How Global Capital has Transformed Housing and Real Estate Markets, explains how the record flow of financial capital into the real estate markets over the last decade stimulated a world-wide explosion in housing production and prices, resulting in a dramatic change in the basic structure of household wealth in most nations, including the United States. Author, Anthony Downs provides a step-by-step analysis of the role easy capital played in generating this rise in household wealth, and examines how the availability of cheap money led to the proliferation of poorly underwritten and risky loans, leading to the collapse of the subprime market and the subsequent credit crunch and stock market decline. Along with the disintegration of the subprime market, Downs outlines other scenarios that could t (more…)

Real Estate Hype 2008-2009

December 2nd, 2009 CheapFlatsInLondon No comments

Since 2006 the media has butchered real estate. It seemed that every time the 6:00 news was on there was some horror story about foreclosures or depreciating markets. The market has been bad, but it has been worse because of the negative coverage. The negative vibe in the media echoed through the real estate market.
Well things are at the beginning stages of a turn around. The media is right back in there with their hype, this time positive. Is it going to have the opposite effect that it did when the market was turning bad?
Real estate value use to be based on the last comparable sale in the neighborhood. In the down turn real estate became worth only what somebody would pay for it, which isn’t very much. With the negative vibes in the market the active homes for sale on the market were being priced well below the last comparable sell. It was a downward spiral. It seemed every time the media came out with something negative it only got worse. Real estate became emotional. Comparable sales didn’t mean anything.
Now with the hype that this is the time to buy, we may see the opposite effect. So what does that mean for you? Well in my opinion if you are a home owner than it is great!. Hype isn’t all bad if it will counter balance the bad publicity we’ve had so long in this market. With the government reinforcement, the positive news coverage, and the low interest rates things definitely can change for the better. In the post when the government has given incentives to buy real estate and the media coverage publicized it, things got better fast. Anything can happen at any time. Is this the time? It may be.
Well what does this mean for buyers? Should you schedule an appointment with a realtor and go buy a house this weekend? The answer is it is up to you. All you can do is watch for the signs and make your best judgment. There are always opportunities in the real estate market wether it is down or up. In my opinion there are more opportunities in a down market, but they take more work. If you are looking to buy a home to enjoy and live in yourself than this is a great time to buy. Take advantage of the vast inventory of homes. Never before have there been so many homes to choose from.
Well what about working with a realtor? Every realtor is different so find one that is looking out for your needs. Did your realtor encourage you to buy a home in 2005 right when the market crash? Did your realtor openly talk to you about the declining market even though you were a buyer? If he or she didn’t than maybe you should find a new realtor who is more cautious of your needs than their own pocket book. There are plenty of good realtors out there, look for an honest one who can decipher the hype.

Weak Dollar Is a Huge Draw for Foreign Investors in US Real Estate

November 29th, 2009 CheapFlatsInLondon No comments

The weak US dollar has been good news for real estate. Taking
advantage of the favorable conversion rates, foreign investors
are eagerly picking up real estate in major cities across the
US. Who is buying and where are they investing?

WHO IS INVESTING?

In recent years the US real estate market has seen the highest
amount of investing from foreign investors in Germany, Britain,
Canada, Japan and the Netherlands. Germany was the strongest
player in 2004 reporting over $4 billion in investments for that
year.

Where are they buying? In the past Europeans were drawn to East
Coast properties and Asians to the West Coast. Now, because of
the lower interest mortgages and a weak dollar, foreign
investors are picking up property, commercial and residential,
in all major US cities, including Chicago and Las Vegas.

CANADIANS AND AUSTRALIANS BENEFITING TOO

Even neighbors north of the border in Canada are seeing the
benefits. Although the Canadian dollar has been weaker than the
US dollar for years, many Canadians own vacation homes in the
US, particularly in Arizona. They are one of the highest volume
investors in the US real estate market. Whether buying or
selling, Canadians are enjoying stronger purchasing power while
the US dollar remains low.

Some Canadians, instead of buying, are following the lead of
foreign investors who are selling current US properties in
preparation for buying at an even better rate if the US dollar
continues to fall.

While Germans are slowing down in the volume of investments due
to recent caps, Australians are picking things up. Australia,
with one of the largest pension funds in the world, must look
beyond their own real estate market for investment
opportunities. Investing in US real estate permits them to
invest their huge national pension funds into diversified
holdings.

HOW LONG WILL IT LAST?

Although the current mortgage rates are an appealing draw, they
will not remain low indefinitely. However, lower priced
properties such as foreclosures would make the financial
investment potentially lucrative for foreign investors despite
the interest rates as long as the dollar remains low.

Foreign investors looking for long run profits anticipate an
increase in the US dollar as an incentive to buy. Investing
while the euro is strong and the US dollar is weak means they
can pick up real estate for a relatively low investment. Already
some countries are seeing up to a 35% discount based on the
favorable exchange rates. However, the aim is to hold the
property until the US dollar is strong and then the conversion
to euro would be highly profitable.

With the availability of properties online it is easier than
ever for investors to find properties without crossing an ocean.
Some of the best deals, such as foreclosures, can be researched
and purchased without coming to the US. This makes investing in
US real estate a great opportunity for investors no matter where
they live.

Copyright (C) 2005 A1-Foreclosure.com

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More free information on investing in REO free foreclosure listings.

30 Ways to Improve Real Estate Websites for 2008

November 18th, 2009 CheapFlatsInLondon No comments

Real estate industry and especially selling real estate is very competitive, well known fact. Real estate agent websites attract new leads, visitors browsing information on your state, county, country and specific areas where you live and promote real estate. The following short list of ideas is not exhaustive and is nothing new to most of us, although a gentle reminder does help at times.

Attracting visitors to your real estate website is difficult as there are so many websites competing for the same web surfers. Visitors are looking for different things from real estate websites, although some common features can attract and keep browsers on your website for more than 3 seconds.

1. Good quality website design that is user friendly: Visitors to websites like to easily find what they are looking for and good layout and navigation could keep browsers on your site longer.

2. Quality Unique Content: Content of your website is very important! Website visitors are looking for specific properties & property information. Write specifically for your market, local area, types of property on your portfolio, services or products you offer.

3. Active Website: Who is going to keep visiting a website that has the same content for months. Add fresh content to your website daily if possible or at least 3 or 4 times a week. Visitors are looking for new information and this new information may well entice them be return to your website and mention it online or to a friend. Adding new content daily means spider returns to index your website much more often, resulting in quicker indexing of new content which also helps in search engine placement.

4. Link Building: Quality real estate and related website links help search engine placement for keyword searches.

5. Write about the place you live, add pictures and feature this on your website.

6. Article Writing: Write and submit articles about your real estate market or service. Works wonders for backlinks.

7. Write about specific products, services or after sales services you offer.

8. Online press releases. There are some good websites that provide a pr release or news release.

9. Offer a tool, article or useful information or report that you have written in exchange for a one way link.

10. Become active in your niche market online and offline. What about charity work?

11. Offer an affiliate program to attract more visitors to your website.

12. Submit a few good pages to Digg.com.

13. Optimize your website with relevant keywords searches and description. You are effectively matching keywords search by browsers to your website Meta Tags and content.

14. Periodically check that link exchanges that you host on your website are continuing to be hosted on the exchange website.

15. Back to Link Exchanges: Submit your interior pages url as this is specific information that people will search for and not a mass combination of your homepage.

16. Search for free property listing or advertise real estate free and submit a selection of properties from your portfolio. Why? This is free advertising, getting your name out there & client’s property exposure and gaining a free link in the bargain. Do not just look at locally free sites, think worldwide also.

17. Become an authority figure for your industry: Take part in new groups on line, forums and real estate blogs and clubs.

18. Introduce a forum to your website: Visitors will keep returning post and discuss relevant real estate issues. Just getting it up and running!

19. Monthly news letters to subscribers about yourself and what your company offers, portfolio and offers you have.

20. About You Page: Be yourself and give some background and what you can offer. Potential clients like to know who they will be dealing with.

21. Form strategic partnerships with other property companies and websites in other market areas and related services. Promote theses strategic partnerships on your website. All good partnerships of course.

22. Run a competition that you can promote online and offline.

23. Display awards on your website for excellent service, leader in the industry, niche real estate market provider.

24. Interlink your website pages with a sitemap.

25. Swap and add link resources to higher value inner pages and not just a link directory. When adding links to inner pages combine them in paragraphs are sentences in text so it looks more natural for the spider when it comes. Also looks better than seeing a few stray links on page.

26. Form alliances or get involved with academic, government, or leading industries. This provides all parties good contacts and great credibility.

27. Promote yourself, real estate agency and website at trade shows and conferences.

28. Offer article submission that could be from running a competition, paid are through charity work. Also related companies wish to promote real estate goods and services.

29. Keep building valuable unique content that is timeless. In turn this expands the content resources of your website, search engine exposures and a rich resource for visitors.

30. Last but not least: Know who you wish to target, form an online strategy and plan that compliments your real estate business and of course know your target market.

Not much here although valuable to follow to attract visitors to your website and keep them there. Locally, nationally and internationally the real estate market is becoming more competitive and global and we all require finding ways to increase our online exposure.

Real Estate Appraisal: From Value to Worth (Paperback)

November 5th, 2009 CheapFlatsInLondon No comments

Real Estate Appraisal: From Value to Worth

The education of the real estate professional is changing and aligning itself more closely with the world of business. This book takes a new approach to property appraisal by exploring the pricing mechanism in this changing context. It: * develops the notion of the pricing mechanism in relation to property * covers practical issues of comparison and the real problems in applying valuation theory * explores calculations – including social and environmental worth – ignored in other texts As real estate professionals now advise both on strategic and operational aspects of built assets, they must take into account practices of other investment markets and see investors as competitors to owner-occupiers. Both owner-occupiers and investors have to assess accurately how their buildings perform but also be aware of wider sustainability issues, and social and environmental responsibilities. Real Estate Appraisal: from value to worth meets these new demands by (more…)

Calgary Real Estate Board

November 4th, 2009 CheapFlatsInLondon No comments

Everybody is coming to Calgary; not really – it just seems that way. Parts of western Canada have some of the best economic prospects in North America these days, and Calgary is right at the heart of that good news.
We have seen times when it was hard to find a place to live and thought that is no longer the case, really, any assistance a newcomer can get would be welcome. Find out about the Calgary Real Estate Board
So, as you might know, we have seen Calgary in Western Canada rise as a pretty hot commodity over the last few years. Housing prices did skyrocket for a short period, and the market is still healthy, though more balanced these days. It has grown steadily, reaching a million inhabitants in 2007.
For a while, it was quite difficult to find a suitable place to live in Calgary, but we have a few tools around to assist those in need. In Calgary, one will find lots of real estate agents and the Calgary Real Estate Board.
What is the Calgary Real Estate Board? As they say on their own website, “a cooperative association supporting Calgary and area’s 5700 Realtors.”
They help enable property purchases and leases by providing a network and operating the multiple listing services, MLS, for the city. Buyers and sellers need a computerized service where people can share ideas and data regarding property for sale. They use it to provide up-to-date and complete market data.
Naturally, they advocate using the services of a Realtor as opposed to various fsbo (for sale by owner) plans, or any other salespersons. They claim you get better market access, information, assistance in things like due diligence and the sales process and exposure.
Above all they want you to know you are more protected from potential problems than you would be on your own. What kind of problems? They cite things like errors and omissions insurance and other sources of financial losses. Good Idea.
On their website, the Calgary Real Estate Board, the CREB, also provides a group of links for educational opportunites. Do you know someone who wants to pursue a career in real estate? Check out the courses offered there.
The Calgary Real Estate Board has put out a free local magazine called Home to Home for those who like in-depth knowledge about the local market. They also publish the Calgary Real Estate News. What’s that? A newspaper-formatted publication with articles, how-to tips, market information including show homes, listings and more listings.
Naturally they have a few statements: Their Vision statement goes, “To be the core resource provider to our Membership’s continued success.”
The Mission Statement says, “To provide the Members with the highest level of information and services.”
And their Values Statement reads, “To conduct ourselves in the highest ethical, professional, and cooperative manner.”
Calgary has lots of real estate for sale. A prospective buyer just has to find the right help, whether that is in the form of websites or personal attention. The Calgary Real Estate Board is there to help these people.