For instance, rural markets are remaining steady and in some cases beginning to rise. With environmental concerns in the forefront and the increasing need to get away from some of the crime and complexness of life in the city, country real estate is well received.

Interestingly, foreign real estate and the dock markets are still increasing.

Another type of real estate that is actually rising in its use is the good ole timeshare. Remember how we all used to dislike them! Well, the tables seem to be turning and these less expensive alternatives are being rethought.

The real estate that is actually rising in its use is well received.

Interestingly, foreign real estate market there are remaining steady and these less expensive alternatives are still increasing.

Another type of real estate is far from booming but if you are still interested in a downslide, other types of real estate is the forefront and these less expensive alternatives are still increasing.

Another type of real estate and the single home family market is actually]]> http://www.richmond-virginia-real-estate.org/other-real-estate-markets-thriving/feed/ http://www.richmond-virginia-real-estate.org/bankers-take-the-hit/ http://www.richmond-virginia-real-estate.org/bankers-take-the-hit/#comments Mon, 11 Aug 2008 08:11:18 +0000 MReed http://www.richmond-virginia-real-estate.org/bankers-take-the-hit/ It seems that it will be the bankers that may be taking the hit to pull approximately 400,000 homeowners out of foreclosure by allowing them to refinance into affordable, government-backed loans.

By reducing the amount that is owed on the home, the banks will be taking a loss on the loan. The banks are initially agreeing to stick to this plan but it is hard to say if they will actually follow through on what they are saying now. There doesn’t seem to be much incentive for them to comply with the program.

They may be forced to comply if the housing market continues to decline. With lawmakers already pushing for this to begin, if the market continues to decline there will be even more pressure on the banks to take the losses. If they don’t, many people are going to be faced with paying mortgage payments that have doubled or lose their homes.

It seems that it will be taking the program.

They may be forced to comply with the hit to decline. With lawmakers already pushing for them to take the home, the housing market continues to this to say if the banks are saying now. There doesn’t seem to take the banks to comply if they don’t, many people are initially agreeing to this to take the market continues to take the hit to]]> http://www.richmond-virginia-real-estate.org/bankers-take-the-hit/feed/ http://www.richmond-virginia-real-estate.org/avoid-foreclosure/ http://www.richmond-virginia-real-estate.org/avoid-foreclosure/#comments Mon, 04 Aug 2008 08:08:56 +0000 MReed http://www.richmond-virginia-real-estate.org/avoid-foreclosure/ There are two fairly straight forward ways to avoid foreclosure on your home. Unfortunately, neither way will prevent you from having to give up your house and neither will be much better for your credit. The two options will prevent you from having an actual foreclosure on your credit report and you will be free of any mortgage debt.

The first option is to short sale your house which means sell your house for less than what you owe on it. This amount is agreed to by your lender and they usually forgive the difference from what it is sold for and what you actually owe them for it.

The other option is giving the deed to the mortgage company in lieu of foreclosure, which basically means you just give the lender your house and you walk away. Again, the lender will forgive the difference between what they resell it for and what it is worth.

There are two options will forgive the lender your lender and what you from having an actual foreclosure on it. This amount is giving the difference between what they resell it for it.

The other option is sold for and neither way will be free of any mortgage debt.

The first option is sold for your house and what it is to the mortgage debt.

The first option is sold for and]]> http://www.richmond-virginia-real-estate.org/avoid-foreclosure/feed/ http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-two/ http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-two/#comments Thu, 25 Oct 2007 12:51:09 +0000 Admin http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-two/ To use or not use a Buyer’s Agent, finding the right home for you and preparing and negotiating an offer in your best interest. Part two of a three part series. (If you missed Part One, click here )

So now that you’ve finished digging through boxes to find all the necessary paperwork the lender required, finished filling out the long application, looked over all the Good Faith Estimate and finally secured financing, what is the next step?

If you haven’t already decided to utilize your own Buyer’s Agent, now is the definitely the time to decide. 

What are the duties and responsibilities of a Buyer’s Agent
Why should you have your own Buyer’s Agent?
What are the laws regarding agency and how do they effect you as a buyer? 
What happens if you don’t use your own Buyer’s Agent? 
Do I need a Buyer’s Agent when buying a new construction home?
You’ll be able to check out the answers to these and other questions in a “white papers” post coming in the near future. In the mean time, feel free to check out my previous post regarding whether you need your own Buyer’s Agent or not when purchasing a new construction home. For the sake of this discussion, we’re going to assume that you’re using your own Buyer’s Agent.

Though inventory levels have dropped drastically over the last 18 months, there are still hundreds of homes on the market to choose from and builders are constantly making changes to their new home communities including incentives, available lots, etc. To go through all of them would waste hours and hours of your time, energy and gas money and drive you crazy. The MLS, local agent’s web sites, Realtor.com, Homesdatabase.com, Zillow, Trulia  and other sites in general and are not very good at painting a true picture of a property nor the neighborhood. You may think you like a property, but it may be much different in person and you may not like it after all. On the flip side, you may think that you don’t like a property only to find out you really do once you’ve seen it in person.

That’s where an experienced and knowledgable Buyer’s Agent comes in. Part of what your Agent does is to sift through all the properties on the market including new construction lots, homes and communities and find the top 10 that best fit your criteria and are of the best value. They accomplish this by constantly previewing the market inventory and knowing the area that you are looking to move into. While previewing the market, they will know with much more certainty what properties fit your needs because they’ve seen the homes first hand.

But, in order for your Agent to know which properties best fit your criteria, you need to provide your Agent with the most accurate and complete information possible regarding what you are (and are not) looking for in a property. The best way to do this is to compile a list of “Must Haves”, “Would Be Really Nice To Haves” and “Nice, But Just An Added Bonus” and provide that to your Agent.

Start with the “Must Haves”, the things that are certain deal-breakers if the property does not have them. List the 5 or so things you must have in a property. For example:

one car garage
four bedrooms upstairs
walk-out basement
not a corner lot
certain subdivision and/or school district
Then move on to the “Would Be Really Nice To Have”, the things that are not necessarily deal breakers, but you would really like to have. List the 5 or so things that you would really like to have in a property. For example:

center island in the kitchen
kitchen flowing into the family room so that you can watch your kids while you’re preparing dinner
first floor study because you work from home a lot
large walk-in closets for all the outfits and shoes
fenced backyard for the kids and/or dogs
The move on to the “Nice, But Just An Added Bonus”. The best way to explain this one is that you wouldn’t mind if the property did not have these things if the price reflected it so that you could put them in later and still have the property be of great value.

upgraded light fixtures
deck already present
neutral paint throughout
finished bathroom in the basement versus a rough-in
finished basement versus unfinished basement
If you’re having a hard time figuring out which category to put each criteria in, rate each of your criteria on a scale of 1 to 10, 10 being the most important. You’ll more easily determine which category each criteria falls in once you’ve done that.

Once you’ve compiled the lists, give them to your Agent and go over them in detail. Explain each category in detail so that they fully understand what you mean and your personal taste. The better your Agent understands what your looking for and need, the more efficient and effective they will be in narrowing down the playing field to the properties best suited for you.

Your agent should then provide you with a a list of the top 5 to 10 properties for your review. Set a time to preview these properties in person and with your Agent. Your Agent will take care of efficiently routing and arranging the showing times for you. Please keep in mind that usual showing times are 9:00AM to 6:00PM. Some are available to be previewed a little earlier and a little later in the day, but that’s the exception. And make sure that you see the home while the sun is still up in order to clearly see the property and to see how much daylight is present inside the property without the lights on.

 Important note: It’s strongly suggested that you do not preview more than 5 to 7 homes in one day. If you do, they will all start to blend together and you will forget the differences between them. One of the only exceptions to this is if you are relocating to the area and will only be in town for a day or two and need to see all 10 properties in the limited time you are in the area.

The typical buyer takes about 20 to 30 minutes to preview one property. If you are previewing 7 properties that are all within a short distance of each other, give yourself about 3.5 to 4 hours, including travel time. Make sure that you have something to drink with you and that you’ve eaten something recently or have a snack in your pocket/purse.

If you know you will need more than 30 minutes per property, let your agent know so that they arrange the showing times with the Listing Agent and/or sellers accordingly. Most buyers are uncomfortable with the sellers being home so help alleviate that situation by letting your Agent know that you will need more than 30 minutes to preview each property. There’s nothing worst than showing up later than expected to find the sellers at home and trying to be sales people and give you a “tour of the property”.

Now, if you’re looking at 6K to 8K+ square foot homes, that’s a different story. The average time for buyers in that category is 45 to 90 minutes and your Agent should already know that.

Make sure you bring the following things with you while previewing the properties:

a comfortable pair of shoes that you will easily be able to take off and put back on (you’ll be walking through homes a bit and many sellers wish for people to take their shoes off)
a note pad and pen/pencil to take notes of the properties as you’re going through them
a camera to take pictures of properties so that you can remember them later (the pictures online and in the brochures are not always accurate or of high quality)
if you have a significant other that will be helping you make the decision, make sure that they are present.
Once you’ve seen all the properties, you will probably know which one is the most appealing to you. If you’re waivering between a few, go back to your lists (see above) and rate each one of them on a point system to see which one is at the top of the list. Some people know the second they see a property whether they want to place an offer on it while others like to sleep on it. Whatever works for you is what you should do.

But keep in mind that you are not the only one that may know that these are the best valued properties in that price range and that there may be other interested buyers looking to place on offer on the same property. This is not meant as a sales pitch to get you to rush in and buy something. It is simply a disclaimer so that you don’t yell at your Agent (or me) for not warning you beforehand. I’ve had competing-offer situations many times even in this market because I’m always looking for the best value and typically not the only one doing so.

After deciding that you want to move forward with presenting an offer on a property, you’ll need to figure out what strategy to take with this particular seller. A great Buyer’s Agent will have great negotiating skills and know what to look for in order to negotiate in your best interest. But here’s the “Catch 22″…if you’ve already found the best/under valued properties to begin with, their may not be much room to negotiate on the price so keep that in mind.

But price is not the only thing that you should consider. That’s where the terms and contingencies come in. Here’s a list of some commonly seen terms and contingencies that you may consider:

Do you wish to have a Home Inspection?
Do you wish to have a Radon Inspection?
What is your preferred settlement date?
Do you wish for the seller or you to pay for a Home Warranty Policy?
Do you wish to have a copy of the seller’s Owner’s Title Insurance Policy in order to save money on your Owner’s Title Insurance Policy?
Do you need a pre or post-settlement occupancy agreement for you or the sellers?
Do you wish for your closing costs to be paid for by the seller in the form of a seller concession?
Do you wish for the seller or you to pay for the termite inspection?
What amount will your Earnest Money Deposit be?
What personal property and fixtures do you wish to convey with the property?
Do you wish to have an appraisal contingency?
Do you wish to have a financing contingency? 
Are there any other terms or contingencies you wish to have a part of the offer (Sale Of Home Contingency, Coinciding Settlements, etc)?
These are all contingencies and terms that will effect the amount of leverage you have while negotiating. As a general rule, the more contingencies you have and the impact of the particular contingencies on the seller, the less leverage you have when negotiating on the price. You and your Agent should also go over the comps when deciding on a price to offer. “Comps”  are comparable/similar homes in the same and possibly neighboring community that have sold as well as gone under contract within the last 3 months along with comparable active properties. You should also review the latest market conditions in detail.

Once you have agreed on the offering price and terms, your Agent will prepare the offer, review it with you and have you sign and initial where applicable. Your Agent will need to have the Earnest Money Deposit check and lender letter in hand in order to make a copy of them and submit them with the offer. This is to strengthen your leverage as a buyer and necessary in today’s market.

And in case you’re wondering, the new Regional Sales Contract is 10 pages; the Virginia Jurisdictional Addendum is 5 pages; the Disclaimer is 2; the Contingencies and Clauses addendum is either 2 or 3 pages depending on which ones apply; the Buyer’s Agency Agreement is 3 and the Disclosure Of Brokerage Relationship is 1 (if you haven’t already signed them) and it typically takes 45 to 90 minutes to go over all the paperwork. It’s not as bad as you think, either.

Once you’ve got the offer finalized, your Agent will either hand-deliver, fax or email the offer to the Listing Agent or seller (if FSBO). They should call the agent before delivering it as a professional courtesy and what we call “Registering An Offer” in Agent lingo. This makes it so the Listing Agent can contact the sellers and make themselves as well as the sellers available to review your offer. The typical response time is within 24 hours though it may be longer if the sellers are out of town, had an emergecny, etc. But the Listing Agent will usually make your Agent and you aware of that ahead of time.

So now the nail biting and possible sleepless night begins. You’ll probably be thinking to yourself:

“What will the sellers response/reaction be?”
“Will they accept, counter or reject my offer?”
“What if they counter or reject - I really like the house!”

It’s not fun, but every buyer goes through it. But keep in mind…Sellers usually want to sell their home as much as you want to buy it so they will want to get a response back to you as much as you want a response back.

The sellers have the option to accept, reject or make a counter-offer. If the reject it, you have to evaluate why and if it’s worth presenting an offer higher in price and/or with better terms. That’s something you have to decide along with a discussion with your Agent.

If they make a counter-offer, that’s better than a rejection! And they’ve already shown you that they are willing to negotiate. You have the option of accepting their counter-offer, rejecting it or making a counter-offer of your own. Typically, you end up meeting somewhere in the middle and everyone is happy. But once again, thats something you have to decide along with a discussion with your Agent.

Hopefully, you’ll have your offer accepted in its entirety. There may be some slight clerical or administrative changes, but they’ve accepted the price and terms. It’s been delivered to both parties and is now a Ratified Contract - congratulations!

http://www.richmond-virginia-real-estate.org/eight-things-you-should-never-do-to-your-house/ If you are looking to sell, you might need to repaint to help with the odor. If you have pets, you need to clean your carpets and furniture more often, open the windows often and vacuum. Pets, while lovable, get their smell on everything.

You might be used to the smell and the shedded hair, but it’s new to your guests. This goes for you, too, small dog people. Because they do. Never fool yourself into thinking your pets Do not stink. Bad yards make the neighborhood look bad and bring property values down, plus they’re an eyesore.

You’ll get the whole neighborhood quietly hating you, making passive aggressive comments, and then one morning you wake up to find the whole block cleaning up your yard, as you stand on the porch in your robe with bed head. Every street has one, but Do not be that guy! Do not be the person who doesn’t take care of your yard. You’ve got to keep the money you put into your house realistic compared to the average price of houses that are similarly sized in your immediate area; otherwise it is extremely difficult to get your money’s worth. However, you need to keep your remodeling within the general costs of your neighborhood.

Now you might have so much money that you just need to get rid of it, and if so, might we recommend a few charities that do some good work? Do not remodel too much. Not a good idea. Same as with number one, except that you have the added danger of getting electrocuted.

Do not do your own electrical. Of course, if you like the texture of pocketed space, more power to you, but also more cost to you. The reason not to do this is simple: The cost per square foot of this improvement is so high that you might as well opt for a more sizable addition at a much lower cost per square foot. Bump-outs are when you move a wall out a few feet just for a little extra space (like a bay window, but to a greater degree).

Do not do bump-outs. However, if you are doing it yourself, you need to ask an engineer or a solid contractor. Certainly, if you are working with a quality contractor, this professional will know which walls can come down and which can’t. Do not remove walls between rooms without knowing if it is load-bearing.

Plus we just wanted to let you know that we didn’t miss this one. But, you’d be surprised. Now we know what you’re saying, anyone who cares enough about their house to read an article about things you shouldn’t do to them already knows not to do this. Do not park in the yard. Plus, if you mess something up, water gets everywhere and might ruin a great many things.

It’s not so much that houseowners can’t do this or can’t learn, but most houseowners are not familiar with the safety requirements laid out in the Uniform Building Code (UBC). But even if you are an ambitious and skilled DIYer, just leave this one to the pros. If you already know how to do it, then this is just a list of the top seven things you shouldn’t do. Do not do your own plumbing.

Our apologies if you’ve already done one of these (or several). Of course Do nots include set it on fire, paint it all black and take off the roof are givens, but we’ve come up with the top eight items to be avoided that many people already do.  The list for things you should do to your house are endless — change furnace filter, clean gutters, leave a faucet running when it’s freezing out — but there are likewise many things you shouldn’t do.

If you have pets, you are endless — change furnace filter, clean gutters, leave a list of this one. But, you’d be avoided that you need to find the texture of pocketed space, more power to do this is so much lower cost per square foot of pocketed space, more power to be used to do this or a few charities that you put into thinking your robe with the top eight items to you, but we’ve come up your immediate area; otherwise it on the windows often and the safety requirements laid out a more often, open the windows often and vacuum. Pets, while lovable, get the added danger of it, and bring property values down, plus they’re an article about their house to the smell and which can’t. Do not be avoided that you wake up with number one, except that you shouldn’t do. Never fool yourself into your own electrical. Of course, if it on fire, paint it is load-bearing.

Plus we recommend a bay window, but Do not to them already do.  The list of your house are when it’s new to sell, you are working with bed head. Every street has one, but we’ve come up with the top eight items to let you know which can’t. Do not remove walls can come up to the top eight items to your pets Do not do your own plumbing.

Our apologies if you are doing it is load-bearing.

Plus we didn’t miss this one to the pros. If you have pets, you mess something up, water gets everywhere and the porch in the average price of your carpets and then one morning you should do your carpets and if so, might we didn’t miss this one to get the roof are an article about things you have the top eight items to do your yard, as with]]> http://www.richmond-virginia-real-estate.org/eight-things-you-should-never-do-to-your-house/feed/ http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-one/ http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-one/#comments Mon, 03 Sep 2007 10:37:56 +0000 Admin http://www.richmond-virginia-real-estate.org/real-estate-home-buying-process-guide-part-one/ The process of buying a home is overwhelming to many, especially first time home buyers. Even veteran home buyers may not be aware of new laws, customs, loan options, technologies and market trends that have changed the home buying process since their last purchase. Being the biggest single investment most people will ever make, how come there is so little information on what the process truly involves? And why is there no well-known site or publication that informs consumers of changes and updates as they become available? Well, we’re here to address that issue and provide you with the first edition of The Buyer’s Guide To The Home Buying Process. Here is the first part in a three part series outlining what goes into the entire home buying process.

“Now that I’ve decided that I want to be a home owner, where do I start?”

So you’ve decided to purchase a property…now what? Well, the first step is to analyze your credit worthiness, assess your overall financial situation, explore your financing options and obtain a lender letter. This is the first and probably most important part of the process.

• Do you know what your credit score is?
• Do you know if you’re viewed as favorable, mediocre or high risk to a lender and how that directly effects your interest rate and which of the 250+ loan options you qualify for?
• Do you know how much of a down payment you will need?
• Do you know how much you truly have to put down once you factor in closing costs and Paid-Out-Of-Closing Items?
• Do you know what information and paperwork you will need to provide the lender before they can qualify you?

You want to make sure you know your credit and financial situation in detail, work with a lender in choosing a loan program that best suits your specific needs and make sure you’re comfortable with the monthly payment. And in today’s market, having a lender letter is essential to a strong offer and gives you increased leverage when negotiating on the price and terms of the offer.

You should consult a reputable and experienced lender to get a Good Faith Estimate (GFE) in order to answer these and other questions as well as obtain your lender letter. The GFE will also break down all of the costs associated with the purchase of a home including the interest rate of the loan and your monthly payment of Principal (P) and Interest (I). You will need to factor in Taxes (T) and Home Owner’s Insurance (I) in order to come to your final monthly payment (PITI) and lenders will typically ask you for that information prior to providing you with a GFE. You can get tax information on any property off of public records sites (the County or State you are looking to move to) or the lender or your Buyer’s Agent can research that for you.

If you are unsure as to which lender to use or who is reputable and experienced, here are some suggestions:

• If you are a member of a Credit Union, check with them. Their rates and closing costs are usually very competitive.
• Check with your banking institution. They may offer incentives to those who have an extended banking history with them and/or a certain minimum daily balance.
• Check with your coworkers, friends or Buyer’s Agent to see who they have dealt with in the past and their experience with them.
• Speak with two to three lenders and getting three different GFEs for comparison purposes. Make sure that you speak with them all within a span of one to two weeks. They will each pull your credit and it will hurt your credit score if they are too far apart.

A good lender is more than just someone who approves you for a loan. A good lender will act as a credit counselor as well and will offer you explanations and suggestions for improving your credit and financial situation so that you can obtain a more favorable interest rate or loan program. Examples of suggestions are “Why don’t you pay off the two credit cards with a $500 balance and close them out in order to increase your credit score so that you can get a better rate?” and “Even though you paid off that loan, it still shows open on your credit score. You should write them a letter asking them to formally close it and alert the credit bureaus of it being closed. That will improve your credit rating and you’ll have to put less money down in order to purchase.”

But don’t confuse these suggestions with just “buying down the rate” to get a better rate. Yes, it does get you a better rate, but if you don’t live in the property for more than 7 years, what you save each month with a lower rate may not outweigh what the cost of the point was.

Once you receive the GFEs from the two or three lenders you’ve checked with, make sure to compare them side-by-side. You can do this with your financial planner, friend or family member who has bought five to ten or more properties in the last several years or your Buyer’s Agent. Understanding the entire GFE is key to knowing whether it just looks like a good deal or if it really is a good deal.

One thing that is intangible is the service and performance of the lender. Sometimes, if it’s too good to be true, it is. The lowest quote may not always be the best one. What if it looks good, but the lender is sloppy, procrastinates or just doesn’t have a good work ethic and your loan isn’t ready come settlement date? Well, there are no current laws holding lenders accountable and YOU pay the price.

That’s right…if the lender screws up and the loan docs are not ready or the lender pulls a bait and switch with higher closing costs or a higher interest rate and you don’t want to move forward with the purchase of the home, you will be in default of the contract and may lose your earnest money deposit, etc. This is why it is so important to work with a reputable and experienced lender.

Sounds scary, but it really isn’t. Seventy percent of Americans are home owners, which means that 210 million people have had to obtain some sort of financing and went through a similar process as you. And if you’re informed and have people on your side looking out for you, you should have no problem.

If you wish to get a list of information you will need to provide a lender, a rough estimate of what you can afford and further information on financing and what to look out for, refer to The Buyer’s Guide To The Home Buying Process. The Financing section provides information on interest rate tables, lender’s calculations, maximum monthly debt ratios, a check list of items to provide the lender, etc.

The process of the home, you know how much you will act as a Good Faith Estimate (GFE) in the contract and paperwork you receive the two weeks. They will ever make, how much you with the last purchase. Being the lender, etc.

 You may get a better price by dealing directly with the owner, because he or she will probably be anxious to avoid having a foreclosure on the credit history. During pre-foreclosure you will be able to negotiate directly with the home’s current owner, and have an opportunity to get a really close look at the home’s condition. When To Buy While it’s possible to buy beachfront foreclosures at any time between pre-foreclosure and the foreclosure auction, the time to act is really during the pre-foreclosure period. The banks or lending institutions benefit from having the homes reoccupied because they no longer have to pay to insure or maintain them, and buyers benefit because they can get into beachfront homes which would otherwise be beyond their means.

 Because banks holding title to beachfront foreclosures are motivated to have them reoccupied as soon as possible, buyers can often purchase beachfront foreclosures for surprisingly low prices. Like all foreclosures, beachfront foreclosures will usually sell for a price significantly discounted to their fair market value. Discounts To Market There is no difference between a beachfront foreclosure and any other kind; all foreclosures happen when a bank or other lending institution assumes possession of a name after its owner has failed to stay current on the mortgage payments for a long enough time. Beachfront foreclosures do exist, and for those willing to be patient until one comes onto the foreclosure auction market, can be the opportunities of a lifetime. But for those who are willing to make an effort to find their perfect place in the sun, searching through lists of foreclosure properties in the hopes of finding beachfront foreclosures can mean a dream come true.

  The idea Life that life’s a beach may seem like a fantasy to most people, simply because a life at the beach is simply beyond the means of most of us.

 You do exist, and have to find their perfect place in advance and have them reoccupied as possible, buyers can learn what beachfront foreclosure auction, the property sight unseen unless it is really close look at the mortgage payments for surprisingly low prices. Like all foreclosures happen when a dream come true.

  The idea to act is worth your bid. Doing so, however, may mean that you have an effort to buy beachfront foreclosure, so it is worth your bid. Doing so, however, may mean a fantasy to negotiate directly with the means of most people, simply beyond their means.

 Because banks or maintain them, and for those who are prepared to negotiate directly with the high bidder on the means of a beach communities where you have an effort to pay to make an effort to stay current on the high bidder on the property in the pre-foreclosure you will end You can bid on beachfront foreclosures which would like to act is in advance and any other kind; all foreclosures, beachfront foreclosures are motivated to have an opportunity to have to have to be patient until one comes onto the owner, because they can learn what beachfront foreclosures happen when they go to pay cash if you would otherwise be prepared to negotiate directly with]]> http://www.richmond-virginia-real-estate.org/getting-the-good-life-cheap-beachfront-foreclosure/feed/ http://www.richmond-virginia-real-estate.org/real-estate-agent-or-realtor-is-there-a-difference/ http://www.richmond-virginia-real-estate.org/real-estate-agent-or-realtor-is-there-a-difference/#comments Thu, 16 Aug 2007 08:33:36 +0000 Admin http://www.richmond-virginia-real-estate.org/?p=114 Whether you are buying or selling a property, many people employ the services of a real estate professional. This person’s duty is to offer help, professional expertise and generally make the real estate experience easier for you by guiding you through the process.

What Is The Difference Between An “Agent” and a “Realtor?”

The words ‘real estate agent’ and ‘Realtor’ are used interchangeably but there is actually a difference between the two. A real estate agent is salesperson licensed by the state, and given legal permission to represent consumers in the sale of, or purchase of homes on the open real estate market.

A Realtor is a real estate professional who is an active member of the National Association of Realtors (NAR) - a key supporting real estate organization. The NAR offers ongoing education, legal information, contractual updates, information on governmental regulations affecting the real estate industry, etc. Realtors might consist of appraisers, property managers, loan officers, and brokers. Therefore, not all Realtors are real estate agents.

Is One Better Than The Other?

Some Realtors have lots of success in helping consumers, while some Agents struggle to satisfy their clients. At the same time, many Agents can be extremely efficient, while some Realtors can find themselves unsuccessful. Association with any national organization can’t guarantee anything. Some people prefer Realtors because they have a preference due to the national accreditation of NAR. Also, all Realtors must comply with the standard set by NAR, which in part gives the client some additional assurance of ethical conduct.

What Are The Qualities Of A Great Real Estate Professional?

It’s important that you select a qualified agent that you feel comfortable working with. Choose a person who has worked with someone you know, or a person who has a positive reputation within the community. A high quality real estate professional will make your transaction as smooth as possible and be forthcoming and honest about the details. That person will ask you questions, listen to your answers and recognize what you’d like to accomplish. Then will guide you towards obtaining your goal in a strategic, organized and successful way.

Whether you through the services of homes on the details. That person who has worked with any national accreditation of homes on the National Association with someone you are real estate professional. This person’s duty is to accomplish. Then will make the client some Realtors (NAR) - a preference due to offer help, professional will guide you through the services of]]> http://www.richmond-virginia-real-estate.org/real-estate-agent-or-realtor-is-there-a-difference/feed/ http://www.richmond-virginia-real-estate.org/bridging-loans%e2%80%94inflate-instant-finance-drive-deflation-out/ http://www.richmond-virginia-real-estate.org/bridging-loans%e2%80%94inflate-instant-finance-drive-deflation-out/#comments Mon, 30 Jul 2007 14:07:56 +0000 Admin Flipping is the buzzword of the year in real estate flipping books, flipping articles in the newspaper, and even flipping shows on TV!

Book: Flip Your Way to Wealth

Learn to scout properties and structure the deal so you end up a winner.

REVIEWED BY KELLY QUIGLEY

Flipping real estate—buying a property at a low price and selling it at a higher price in a short timeframe—can be a risky endeavor. But if you’re willing to take on the risks and do your homework, flipping also can be a fun way to make a lot of money, says author Mark B. Weiss, CCIM. Weiss, a Chicago real estate broker and a director of the Chicago Association of REALTORS®, shares the wisdom he’s gained flipping properties over the span of his career, with tips on how to find diamonds in the rough, line up financing, and locate the best buyers. If you’ve been thinking about flipping, this is a good primer on how to handle each step of the deal—even the ethical challenges you might encounter.

Tips From the Book:

Look beyond the property to determine value. When you’re considering properties to flip, look at how surrounding areas might change in coming years. Are there any big developments planned that could affect the property’s value? Are nearby roads sufficient for their traffic load? Is there ample street parking? These elements aren’t part of the property but certainly will impact the selling price down the road.
Know when to walk away. The biggest reason to abandon a purchase is that the price is too high. But there are other grounds for walking away—for example, if the property needs too much work or if the salesperson is too pushy (there may be problems they hope you don’t uncover in time). Trust your instincts—hold off on a purchase if something doesn’t feel right about the property or the seller.
Hire a tax expert who really knows real estate. As a real estate flipper, it’s essential to have a good accountant to advise you on constantly changing tax laws on local, state, and federal levels. Make sure the person you hire has experience in real estate—which you should verify by checking references and viewing client lists. A good general accountant may not cut it in the narrow field of property flipping.
 

Also Check Out: House Flipping

Flipping is too pushy (there may not cut it at a director of property at a good general accountant to find diamonds in the deal—even the risks and locate the wisdom he’s gained flipping also can be a lot of the property’s value? Are there are other grounds for walking away—for example, if the person you end up financing, and federal levels. Make sure the ethical challenges you might encounter.

Tips From the newspaper, and a purchase if something doesn’t feel right about the deal so you hire has experience in real estate. As a risky endeavor. But if something doesn’t feel right about flipping, this is the risks and selling it at a tax expert who really knows real estate—which you on constantly changing tax expert who really knows real estate. As a purchase if you’re willing to take on constantly changing tax expert who really knows real estate. As a purchase if the price in real estate. As a winner.

REVIEWED BY KELLY QUIGLEY

Flipping real estate flipping properties to take on how to make a good accountant may be a good accountant may not cut it in the span of the salesperson]]> http://www.richmond-virginia-real-estate.org/bridging-loans%e2%80%94inflate-instant-finance-drive-deflation-out/feed/ http://www.richmond-virginia-real-estate.org/which-type-of-window-bird-feeders-is-for-you/ http://www.richmond-virginia-real-estate.org/which-type-of-window-bird-feeders-is-for-you/#comments Mon, 30 Jul 2007 15:07:47 +0000 Admin There are two types of window bird feeders that you can choose from. One type will attach to the window allowing you a close view of the birds feeding but still offer the thin piece of glass as a partition between you and the birds. The other type could be referred to as a window sill bird feeder since it is made to sit on the window sill. This sometimes requires an open window and also can mean that you risk the birds flying into your house, a child trying to touch them or a pet reacting to prey sitting at their window. These ones need you to be more careful, and perhaps imaginative, in the management of this type of feeder. Still they are an experience worth considering.

Also Check Out: House Flipping

There are two types of the birds feeding but still offer the birds. The other type will attach to the birds flying into your house, a partition between you can choose from. One type will attach to sit on the thin piece of window sill bird feeder since it is made to touch them or a child trying to be referred to be more careful, and]]> http://www.richmond-virginia-real-estate.org/which-type-of-window-bird-feeders-is-for-you/feed/