January 3rd, 2009
Landlords and rehabbers take notice - you may soon be focused on the new concepts of “Virtual Real Estate Investing“. There are many variations on what this term means, encompassing everything from using the internet to aid in real estate investing efforts to participating in online games such as SecondLife.
In order to figure out the truth of the matter, I sought out Bryan Ellis, whose experience in the fledgling industry is truly impressive.
Ellis says he adopted the term “virtual real estate investing” sometime before Y2K after he realized that making money online is conceptually very similar to making money with physical real estate.
One example of the parallels between virtual and physical real estate Bryan Ellis cites is the similarity between the monetization of domain names versus physical property. “These types of assets - websites and physical real estate - can be monetized in very similar ways like buy lo/sell high, leasing/rental and advertising opportunities” he says.
I must admit: Its easy to see the parallels. Consider this: If you own a piece of real estate in a desirable neighborhood, your real estate has value because other people are interested in that location. Similarly, ownership of a desirable domain name is valuable for the same reasons. Regardless of the type of asset, you can sell or lease or use any number of strategies to turn the assets into cash.
In our next installment of this series on virtual real estate investing, Bryan Ellis will share the internet analogies to the physical concept of real estate development.
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June 19th, 2008
The Property Index site has a vast range of property for sale in Spain, view the range online.
Albeit Property Index is seen as a fledgling enterprise, (they were set up only in March 2007), they were fast to prove their mettle. In point of fact a very incomplex enterprise fully concentrated on offering informed instructions to any individual who is attempting to buy assets no matter where. Their pledge: to be of help to you to pinpoint precisely what you are looking for quick and, even better, without pain. Estate is easily available all over the world today, one of the most exclusive areas being properties for sale in Spain. It should really be no problem to specify the phenomenal properties available for sale in Spain, one argument for wanting property here being a combination of the houses and apartments available for sale and the opportunity to live surrounded by this lively populace.
This is one of the truly favored countries today, and considering the overall attractiveness and agreeable weather surrounding you, how could you be wrong. Estate in Spain is steeped in history, this region is home to lots of cultures. Around 25 years ago there’d be very few of English who are looking for properties in Spain. Ask any person who has moved to Spain and they’ll tell you the same thing. There are those who would view it as a temporary fashion and others view it as a close to a fetish. People who are intent on transferring to this place extend from young working couples looking for a challenge to OAPs planning on relaxation and enjoyment.
Note that you may encounter some problems when trying to acquire properties in a foreign market — you’ll find there are a hundred actions be it when organising, inspecting or signing the documents. Even if a single minute procedure is missed that may engender wide-reaching problems and, more important, monetary loss. As you will expect with this trendy location, properties could well be extraordinarily costly in this destination and that’s simply a consequence of the wide spread market demand. Despite this the patron is rather spoilt for choice in a destination so determined by golden countryside and fabulous scenery. It’s actually got the whole kit and caboodle a patron might really wish for, and lots more.
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June 13th, 2008
There are a number of great benefits to taking out a home equity loan; not least the opportunity to open a line of credit, pay existing debts or put your children through college, the list is endless. There are also positive tax benefits, if you’re unsure about this you should speak to your accountant before taking out a home equity loan. So in a world of greedy banks making billions of dollars a year, why do they like it when we take out a home equity loan?
The simply reason is that home equity loans are the “loan of the day”, they are very popular and as a result they make banks a lot of money. Another reason, and one that is perhaps more important, is that home equity loans are secured loans, secured on a tangible asset, your home. Therefore, there is less risk to the bank for lending you the money. This is great news for banks and its shareholders as they are making record profits with less risk. It’s a simple formula to the banks; they’ll lend you the money in return for an interest rate payment. If you fail to pay, they will take your property from under you and sell it, whatever happens they can not lose.
So as long as borrowers pay their home equity loan bills on time and they got what they wanted out of it, surely everyone is a winner, right? On paper, this certainly appears to be the case; however there is a growing concern that many people view the equity in their home as their spending money and are starting to fritter away, what in many cases is their only form of assets or savings. Experts argue that there needs to be more control on home equity loans and the reason for the loans.
Adam Jackson of http://www.besthomeequity.net is a home repair expert striving to bring you the best free home repair and improvement information on the web.
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May 31st, 2008
Make no mistake: the “green building” market is not only here to stay, but it’s also the wave of the future. In just the next five years, the market for buildings that incorporate alternative energy and conservation techniques will increase some $10-20 billion dollars. Yet the green building market only constituted about two percent of new construction in 2004. By 2010, that figure is expected to jump to 5-10 percent, which still represents only a tiny fraction of the immense potential of the green building market.
A recent survey showed that more than 70 percent of the architects, engineers, contractors and building owners interviewed expect a significant increase in their income from green building. Of those surveyed, some 60 percent of those industry professionals are now regularly including green techniques in their new construction projects.
Although they cost a bit more to construct, once the buildings are completed, they can save their occupants 8-9 percent in operating costs vs. conventional buildings, which can add up to significant savings over time. Recognizing the trend, builders, architects, and manufacturers are rushing to get in on the boom, which will ultimately bring down prices for consumers.
This is no longer just a few environmentally-minded homeowners placing solar collectors on their roofs to heat water. The boom is being driven by giant corporations like Ford, GM, and Adobe, companies that have incorporated green techniques into their buildings to improve their overall bottom line through increased energy savings. That trend proves that green buildings are no longer just a fad, and are definitely here to stay, because if companies can realize a quick return on their investment, they’re also quick to jump on the green building bandwagon.
Green building isn’t just the wave of the future. Green building is also the hottest “new” thing in current construction. There’s an organization called the U.S. Green Building Council that actively promotes the usage of green building techniques. If you or your company are interested in incorporating green features in your next building project, you’ll find lots of information at www.usgbc.org.
It all adds up to a win-win situation for everyone concerned. The building industry gets increased business, occupants save significant amounts of money, and the environment is impacted less and less. And the trend should only gain momentum as new technology makes green buildings even more efficient and less expensive.
Copyright © 2006 Jeanette J. Fisher
Jeanette Fisher has researched the effects of environment on emotions for over 15 years. She teaches interior design college courses and seminars. Free interior design reports: http://www.designpsych.com
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May 24th, 2008
It wasn’t too long ago that all a real estate agent or for-sale-by-owner had to do to let the world know that they were interested in selling their home was to place a sign in the front yard and run a classified ad in the local paper. In 2006 it is a totally different world in residential real estate marketing. If you’re trolling for buyers you better be in their path, which is the Internet. According to The National Association of Realtors(R) over seventy-percent of homebuyers start their search on the Internet before contacting a real estate agent.
Getting up to speed with Internet marketing is not difficult. Many companies today specialize in property web sites, home virtual (360 degree digital image) tours and blast new-on-market emails. To find these companies look in your local phone books or in Internet search engines. Mark Nash author of 1001 Tips for Buying and Selling a Home provides the nuts and bolts you need to know about marketing a home on the Internet.
-Eight still photos required for a home on Internet. Search engines and Multiple Listing Searchs look for at least eight still photos for a property. These should include an exterior shot under current seasonal conditions. If you put up a summer photo in the winter, buyers will think that the property has languished on market for many months. The other shots should be of the living, dining, and family room, master bedroom, master bath, kitchen and a backyard or other optional shot.
-Place a classified ad on your local Craigs List. Many first-time buyers search this popular directory of rental and purchase homes. You’ll be amazed at how many inquiries you receive from devotees to this list.
-When booking a classified ad for your home in the local newspaper ask if they have an online edition. Make sure that your in every newspapers online edition that you advertise in.
-For as little as a hundred dollars you can have a web sites for your home. Marketing information, floor plans and mortgage rates and scenarios can be posted to it. The web sites address should be the property address, www.123mainstreet.com
-Virtual tours are a great way for Internet surfers to take a miniature tour of your home, and many buyers won’t visit a home until they’ve taken a virtual tour. Here are some tips on virtual tours. Virtual tour camera lens can make small rooms smaller, so don’t bother with walk-in closets, powder rooms and other small spaces. Take a look through the lens to get an idea what the camera will record. Move and stage shots to edit out too much furniture, close window blind or shades and streamline tabletops and bookcases. Place a blooming or green plant in shots to perk up and add life.
-Have your virtual tour burned onto CD’s to give to buyers who have visited your home. Mail CD’s to real estate agents in the area to give them a sneak-peek before they show your home. Put the web site address of your home on the outer sleeve of the CD.
-Gather email addresses of interested buyers and real estate agents for email notification of Open Houses, price reductions and interior photos to refresh their memories. Avoid spam, no one appreciates it.
Mark Nash’s fourth real estate book, “1001 Tips for Buying and Selling a Home” (2005), and working as a real estate broker in Chicago are the foundation for his consumer-centric real estate perspective which has been featured on ABC-TV, CBS The Early Show, Bloomberg TV, CNN-TV, Chicago Sun Times & Tribune, Fidelity Investor’s Weekly, Dow Jones Market Watch, MSNBC.com, The New York Times, Realty Times, Universal Press Syndicate and USA Today.
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May 20th, 2008
There are two primary places that you can find money to support your new home purchase, commercial banks and private lenders. Although there are a few more, these are the ones that people turn to first.
Commercial banks usually have terms put out on the table that you are either expected to accept or decline, based on how you feel about the terms offered. You simply give them your information and based on your credit history, income, expenses, long term debt, and the amount of money needed to purchase the house, they deliver terms based on the bank’s requirements and the current interest rate.
There is some room for negotiation, and you have choices based on the type of interest rate, whether it be adjustable or fixed, the length of the term, and how much you can afford every month. However, for the most part, it is a one-way deal where they tell you what is available and you choose.
You can always shop different banks and lending institutions that operate much of the same way. You can compare interest rates and terms, and find the bank that can give you the best deal. This is a great way to find competitive prices and find a mortgage that best fits your financial situation.
Now with private lenders, individuals or groups of individuals, who loan out their personal money to people for many reasons, as investments. Basically, they loan you the money to purchase the house and make a return on the interest that you pay. Many times, they are willing to work on more difficult terms, meaning, they make loans that most banks wouldn’t. Often, there is a higher interest rate to counteract the risk of a higher risk mortgage.
Private lenders do not just do troubled or bad credit loans, but ranging from all types. It really is an individual preference as to what type of investment these individual lenders are willing to make. You will find many strong headed lenders that are as tough as the banks, and only want to see solid investments. Many of them are like this.
If you want to approach a private lender, you must come prepared with your information and what it is you want to accomplish. The private lender will have his or her own agenda as to the mortgage they want to set forth. With private lenders, however, there is room for negotiation. It is much more a two-way deal. You have terms you want to be met and the private lender will have his or her own. Negotiation takes place until a deal is met and the papers can be processed.
It is important to come educated and prepared when meeting with a private lender. You must have a clear picture of your financial situation and understand what it is you can afford, and not afford. If you can show steady income and the ability to pay the lender back, despite past circumstance, you may just have a shot. The private lender will not figure out all the information out for you like the bank. I am sure there are some who will, but not many.
In the end, the deal should cover both your agendas and be a joint decision, not one telling the other what is going to happen!
A private lender can be a great choice and offer you great deals if you can find someone willing to work with you. There are websites online that you can use that will help you find a private lender. Ask for referrals and be sure to trust the person you are working with.
John R Blakefield is a mortgage and real estate specialist. For more information, articles, news, tools and valuable resources on home mortgages or investment loans, refinancing, debt solutions, visit this site: http://www.scourtheweb.com/mortgage.
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April 11th, 2008
At one point in time, getting a zero down loan or closing cost
assistance with poor credit was difficult. To qualify for a mortgage,
individuals with poor credit would need a sizeable amount of money to cover all
expenses. Fortunately, numerous home loan programs have been created to
assist those with less than perfect credit. Thus, homebuyers with low
credit scores are able to obtain mortgages with up to 103% financing.
How Bad Credit Affects Mortgage Loans
Although bad credit will not stop you from getting approved for a
mortgage loan, this factor may stand in the way of you getting a low
mortgage rate. Still, there are ways to get a comparable low rate mortgage and
assistance with closing costs. If your credit score is low, choosing
the right lender is critical. Failing to research different lenders and
home loan programs may result in accepting a home loan with bad terms.
For this matter, it is important to work with a lender that advertises
home loans for people with bad credit. These lenders have a range of
loans designed especially for those with low credit scores.
What are 103% Home Loans?
When purchasing a new home, homebuyers must be prepared to pay
out-of-pocket expenses. Although down payments are not required, closing costs
and other fees are unavoidable. As expected, it is difficult for some
people to save thousands of dollars to pay for closing fees. Thus, many
forgo buying a new home.
In order to make homeownership attainable, many mortgage lenders have
begun offering 103% home financing loans. With this type of loan, a
homebuyer is approved for more than the home price. The extra money is
intended to finance the closing costs and other fees that may arise.
Who Benefits from 103% Mortgage Loans?
These loans are designed to assist homebuyers who have minimum funds.
The cost of living is continually rising. Although many are in a
position to manage their daily living expenses, few people have disposable
cash to save for large purchases. In this situation, 103% home loan
financing is advantageous.
Each mortgage lender establishes different criteria on qualifying for
103% financing. Regrettably, many traditional lenders reserve these
loans for individuals with excellent credit. On the flip side, several sub
prime mortgage lenders offer this type of financing to people with bad
credit.
Try using one of ABC Loan Guide’s
Recommended Poor Credit Mortgage Lenders.
View our recommended lenders for
Poor Credit Home Loans. Also, view our recommended lenders for 103% Mortgage Financing online.
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