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The Current Happenings of the Real Estate Market

Posted by on Sep 21, 2018 in Real Estate | Comments Off on The Current Happenings of the Real Estate Market

If you must invest in real estate properties or already own some, you have to pay close attention with what are the current happenings in the said industry. Experts in real estate claim that the real estate bubble is bursting. That being said, you have to be mindful in monitoring your investments and looking at what financial future lies ahead of you in such a chosen venture.

In the past five years, there was an extensive growth of the real estate market. This has led most people to believe that the real estate industry is one of the safest investments they can be in. Today, this is no longer the case. With real estate prices increasing, it seems that the real estate market has never experienced such prices as adjusted because of inflation. Because of the growing number of people who are more concerned about the real estate bubble, there are now less real estate buyers. With fewer real estate buyers, expect the prices of properties to also go down.

If you are part of the real estate industry no matter what area you belong to, you have to be knowledgeable about the current happenings of this industry. This short article will give you some of the reasons why experts in real estate have foreseen that the real estate bubble is about to burst.

The first reason why the real estate bubble is already in the verge of bursting is because of the rapid rise in interest rates. Between June of 2003 and June of 2004, interest rates were at their lowest in history. Such low interest rates have made a lot of people buy homes that are quite costly for their normal purchases yet at still the same monthly rates. But then, these times are gone. And now, interest rates are rising and will still continue rising in the many years. These interest rates are rising as a way to combat inflation with increasing food and gasoline costs. With higher interest rates, owning a home already becomes more expensive that is why most home selling prices have gone down.

The second reason why the real estate bubble is already in bursting is that new home buyers are not anymore able to buy new homes with their expensive price tags and more expensive interest rates. It seems that the real estate market has become a pyramid scheme meaning if the number of buyers is increasing, then everything is just fine. With high real estate property prices and higher interest rates, a lot of new buyers are now going out of the market. Sales are going down and inventories of available homes for sale are rising.

And the last reason why the real estate bubble is already about to burst is that the overall psychology associated with the real estate market has changed. In the past five years, the success of real estate market has increased that if you bought one during these times, you have more chances of making more money. This has made a lot of people invest in the real estate market. In a bubble market like the real estate, its psychology is known as herd mentality where everyone follows the herd. However, mindsets in association with the real estate market are changing. Real estate investors are now becoming scared to be dealing with real estate properties that will make them lose their money more.

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Acquiring a License in Real Estate and What to Do After

Posted by on Sep 21, 2018 in Real Estate | Comments Off on Acquiring a License in Real Estate and What to Do After

To cut to the chase, before you can get your own real estate license, you need to take a pre-licensing course that will take you more or less 63 hours to finish. You can finish such course the traditional way from your local community college or take online courses while at the comfort of your own home. If you take the former, the course can take you between 4 and 6 weeks to finish because of scheduling. With online classes, though, your pacing is what matters. If you can, the entire course can easily be finished in a week.

Each state or country will have their own requirements in getting a license in real estate. In terms of general requirements, you should have a GED or a high school diploma and must be 18 years of age to get your real estate license. Educational requirements include completing the 63-hour pre-licensing course and passing it. For the exam and application requirements, you should have your accomplished license application form submitted along with your fingerprints and any associated fees. You should either pass your real estate associate state exam with a score of 75 out of 100 or pass your real estate law exam with a score of 30 out of the 40 total points. After passing, you then activate your license using DBPR proper forms with your real estate broker or you can just have it activated online with your broker.

These are basically the steps that you have to take in order for you to get your real estate license per state or country basis. They may sound easy upon reading; however, the amount of study and exam that you will take should be taken seriously. Before obtaining a real estate license, it would be to your benefit if you do some online searching. When you are really a hundred percent sure to make a career change, then you have made a good decision.

And so, what must you do now that you have obtained your real estate license?

Of course, as mentioned above, after you have gotten your real estate license, you should be able to activate it with a broker. And after that will be the part where you have to determine what path you will be taking in real estate. Each company in real estate will have their own splits, options, training, fees, and more to choose from.

If you are thinking of becoming a property manager, you have to do some searching of local property management companies. You can join them or join some national property management companies. Being part of these companies allow you to attain more knowledge and experience in various aspects of property management, most especially the legal ones. You can also engage in luxury real estate after getting your license. These are houses that start at a price of a million and more. Of course, you can benefit from engaging in this are since you will earn more money per transaction. Meanwhile, if either of these options do not appeal to you, you can always start the traditional way in real estate by becoming a real estate agent.

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Some Real Estate Career Options for You

Posted by on Sep 21, 2018 in Real Estate | Comments Off on Some Real Estate Career Options for You

The real estate market plays a crucial role in how the quality of lives of people play out. It serves as the blueprint of the city that you live in and how you want your lifestyle to reflect it. And so, it is crucial for the industry to be filled with creative, aggressive, and wise individuals who not just work to earn money but provide of utmost service to the general public.

Until this day, most people think that the real estate market only has real estate agents working for it. And most of them have all these misconceptions that what they do best are just bugging you with phone calls at untimely hours and handing your leaflets. These are all misleading information and nothing more. There is more to the real estate industry than real estate agents just making sales pitch. As a matter of fact, there are a number of real estate career options open to a wide range of individuals.

Planning to become part of the real estate market? What follows are some real estate career options that you can choose from.

1. Broker/salesperson
According to Forbes, the job of a real estate agent is ranked as the number one happiest job. Real estate agents find their job to be rewarding because of how much control they have with their work, everyday tasks, and flexibility. The job requires helping individuals buy and sell homes. These professionals are experts in the process of selling and buying properties, process policies, loan documentation, and enabling clients to save both their money and time.
a. Commercial brokers: These brokers specialize in buying and selling of revenue-making properties such as apartments and spaces found in warehouses, office buildings, shopping centers, and malls. You must have a good understanding of the value of your property investments in association with market activities, taxes, and location.
b. Office or industrial brokers: These brokers take charge in renting out, selling, or developing properties for manufacturing or office headquarters. You must be knowledgeable about property management, tax regulations, and zoning laws to work well in this area.
c. Land brokers: These brokers deal with land deals for industrial, commercial, residential, and farm lots. Such brokers are experts in finding lands that have the potential to generate revenues or to be developed. You should have the knowledge about local market economics and agriculture to succeed in this chosen venture.

2. Land developer
These professionals are keen in conceptualizing blueprints for projects. They have a keen eye in determining if a property is worthy of being developed for profit whether they are for residential, industrial, or commercial use. Simply out, they are the ones who deal with cost analysis and site selection. They oversee the property construction and coordinate with construction companies.

3. Office manager
This job entails managing a real estate business or realty, meeting with potential clients, financial management, marketing, and brokerage. These professionals also aid in hiring real estate agents to have them work for a firm. They can work for a real estate firm full-time or be self-employed.

4. Property manager
This professional involves maintaining and managing the usefulness and structural integrity of a property whether commercial, residential, or industrial properties. Their goal is to make sure that a positive cash flow is provided for property investors and that they are making the most of their investments.

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Achieving Success in Real Estate Investments

Posted by on Sep 21, 2018 in Real Estate | Comments Off on Achieving Success in Real Estate Investments

Today, an increasing number of people are investing in real estate properties, and for good reason. Now that stock exchanges are no longer becoming profitable, people are going back to real estate. A lot of first-time real estate investors go with single family homes. This has become very common because majority of them have become familiar with buying a home even if real estate investments can be done without owning a home. Also, the learning curve is just slim. However, there is a downside to this approach. For starters, the competition is heavy. Also, first time home buyers are being discouraged by investors who are doing something to drive up the cost of properties for sale. When this happens, for sure, the real estate bubble bursting is about to happen.

So, what are the things that you should do in order for you to not be in these types of situations and invest in real estate successfully? What are the things that you can do to stay on top of the competition while making sure that you are just prepared in case something bad happens to your investments? To answer all these questions, you should invest in commercial real estate.

Why commercial real estate? You see, when you invest in commercial real estate, it does not matter if the local real estate market is having a good time or a bad time. You still get the kind of profit returns that you should expect on a regular basis. What is being referred in this article as commercial real estate in multi-unit apartment buildings.

To answer questions forming inside of your head, here goes. Yes, you will become landlord but no, you will not have to do all the work yourself. You will only serve as the owner of the apartment and never its manager. Part of your expenses include the managing and owning costs of the building that will just be covered by the income you receive from rent.

You can refer to apartment buildings as commercial real estate if they come with five or more units. So that you can make the most of this type of commercial property, you can either invest in bigger buildings or own multiple small apartment buildings. This ensures that your expense to income ratio will generate you a positive cash flow. Becoming an investor of rental properties should be all about getting positive cash flow.

If you are planning to invest in commercial real estate, you should not be too fast in making deals and getting deals. You have to learn as much as you can about the market first. Keep in mind that in this particular area of the industry, you are dealing with professionals. You should never be too obvious that you are an amateur in the business because you will just end up wasting the time of your potential tenants. Also, keep in mind that if you do not have any real estate investment experience, you might not be able to borrow some money from commercial real estate lenders. So, start learning more about commercial real estate first and read some books about making such investments before testing the waters.

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An Introduction to Real Estate Auctions

Posted by on Sep 21, 2018 in Real Estate | Comments Off on An Introduction to Real Estate Auctions

Auctions not only happen with rare treasures and collectibles, today, auctions are also being held for real estate properties. Indeed, real estate auctions are becoming a current trend. Successful auctions of real estate seem to be happening in various portions of the world. It seems that they are becoming a trend all because of increasing inventories and decreasing buyer confidence. The kind of properties that get sold using traditional methods in weeks in the past no longer attracts buyers like they did today even with their prices marked down. A lot of people say that the real estate bubble has already burst but both sellers and buyers of today are actually benefiting financially from real estate auctions.

No matter the market cycles and trends, real estate auctions are one way of having a transparent and open process for both sellers and buyers. Real estate auctions that have been conducted properly attract interested and ready buyers and motivate them to act accordingly. Auctions help to get rid of the wait and see attitude of real estate transactions of today. Most buyers have become more conscious of overpaying. With auctions though, they are able to gain more confidence with their real estate purchases because they can see with their own eyes what other people are willing to pay for such a property.

If inventories are low while the market demand is high, real estate auctions are able to provide higher selling prices than what a seller will be willing to give in after negotiations with private sales. When the real estate market has a good selling atmosphere, a lot of property owners using traditional methods negotiate on a per-buyer basis. This leaves behind equity in thousands of amounts on the table. During these times, engaging in real estate auctions is the best solution to get a top market price.

Not all sellers or properties are good candidates for auction. As a seller, you have to be ready to sell right this very instant and for the current market value of your property. Always keep in mind that real estate auctions will not resolve any issue that is caused by a decrease in the current market value of your property. If you still owe more money than what any willing buyer of yours will pay, then you still have to close a deal preparing your own check book.

A real estate property that does well during real estate auctions is the kind that has some unique characteristic to it. If you are wondering if your real estate property will do well during auctions, you have to ask yourself what makes your property different from most properties. If you own a high-end luxury home or a resort property, they will most likely do well during auctions. Most land and commercial properties sell well during auctions. Just like most auctions, real estate auctions prosper when there is an element of uniqueness. When your property is similar to most properties, the best way for you to sell it is to come up with a price that is the most competitive. Lastly, as a seller, do not forget to come up with a minimum bid that is both reasonable and realistic.

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Everything You Need to Know About Rental Properties and Landlord and Tenant Responsibilities

Posted by on Sep 20, 2018 in Real Estate | Comments Off on Everything You Need to Know About Rental Properties and Landlord and Tenant Responsibilities

Both landlords and tenants have roles to play in rental properties. Each key player will have distinct roles to play that they must know a great deal about before renting a property or choosing to manage a rental property. Whether you are the landlord or you are the tenant, you should have a clear understanding about your rights and what responsibilities are required of you from these rental properties. This ensures that both parties will have a pleasant and peaceful experience in renting properties.

Before knowing more about both landlord and tenant responsibilities, you have to first understand the basics of rental properties. Now, if a person will rent a residential property, you refer to him or her as a tenant. Before signing a deal to rent the property, the lease agreement should state all the rights and responsibilities of both the tenant as well as the landlord. To prevent any misunderstandings, legal disputes, and confusion, both parties should be well aware of these facts and what are expected from them.

There are usually two type of tenancy agreement contracts. You have the lease agreement and you also have the lease and license agreement. The former agreement allows the tenant to have ownership of the property at a period of time that is not specifically stated. This can cause legal disputes that must be settled in court of the tenant does not want to move out of the property. The latter agreement, however, is much more recommended since it has a conditional ownership agreement for a particular period of time. You are also given the option to renew your rent where there will then be other changes to your stay and rent.

When it comes to landlords, they will then come up with a rental amount that must meet the formula set by their local governing bodies. This differs per country and per location. Nonetheless, most annual rents are computed based on a percentage of the expenses paid for the construction of the property and the current market price of the land. The both of these costs also depend on the historical value of the property. This means that old properties have smaller rental fees while new properties have bigger rental fees that will benefit the landlord more. An increase in rental fee is also expected when the property is renovated.

A responsible tenant should be able to pay their rent and other associated rental bills as per the agreed terms of their contract. If the tenant is not able to meet their payments on time, they may pay an interest rate for the delays. Most interest rates are calculated based on the due rent date and the date it was paid off.

On the part of the landlord, they should be able to provide a rent receipt to the tenant to serve as proof that the payment was made. If the landlord fails to provide this receipt, the tenant has the right to complain to the consumer court. When such a situation happens, authorities will listen to both sides where the landlord must then provide compensation to the tenant accordingly. However, the tenant must meet certain requirements for filing complaints against their landlords. For instance, they can only file a complaint within two months from the payment was made.

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Tips and Tricks to Effectively Selling Your Property Directly

Posted by on Sep 20, 2018 in Real Estate | Comments Off on Tips and Tricks to Effectively Selling Your Property Directly

Thinking of skipping the services of a real estate agent to sell your home? If the answer is yes but you think that this is not possible, then you have to think again. You see, it is very much possible for you to sell your property directly, or in short, by yourself. When you sell your property without employing the services of a real estate agent, you actually get to save on their commission fees. And yet, there is another question that you have to deal with. Is it going to be a smooth sailing ride to sell properties on your own?

To answer the last question, it would be a yes. Selling a home directly can be a smooth sailing process if you make sure to dedicate your effort and time in doing so. Once you have the willingness and commitment to do so, then there is no doubt that its benefits will come coming back to you.

What are the benefits of selling property directly?
• No more profit sharing: As mentioned above, since you are the only one directly selling your property, you need not provide any commission fee to your real estate agent anymore. This is often taken as a percentage from the total selling price of your property.
• Control over the sales process: If you hire a real estate agent to sell your property, he or she takes control over the sales process. However, if you sell your property directly, you are the one who takes control over the whole sales process.
• You can make better price negotiations.
• You have all the say on the arrangement of viewings of your property for sale.

What are the crucial steps to selling your property directly?
1. Remove clutter: Remove all personal belongings and garbage found in and around your home.
2. Inspect: Check the condition of your home like any presence of defects and faults and address them as soon as you can.
3. Home staging: This is the process of decorating your home to entice potential home buyers to check it out. You can hire the professionals to provide you with these services. When effectively done, not only are you attracting more potential buyers but also you are allowing your property to be sold at a better price.
4. Price your property: One way to sell your house fast is to price it accurately. You can do online searches of the current prices of properties that are similar with yours. You can also get the services of a professional evaluator.
5. List your property: Have your home listed on a reputable and highly visible property portal. In this way, you can attract more buyers to check out your property. It even helps to have your property placed in multiple property listings.
6. Connect with potential buyers: Always include your contact information regarding the property that you are selling. Once a potential buyer sees your listed property, they will not have a hard time connecting with you.
7. Arrange viewings: Find a convenient time not just for you but for your potential buyer if they must view your property.
8. Negotiate: Since you are the owner of your property, make sure to keep in mind the price you want your property sold. You have the power to directly negotiate with your buyer.
9. Close the deal: Do this by having the required documentations with you. It would be better to have a legal expert by your side to check the validity of every document drawn.

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