Real Estate Kingdom

With the high rise in foreclosures these days, even those who do not invest in real estate are starting to hear the term "real estate short sale" or "mortgage short sale." A simple definition of a short sale of real estate is an investor or buyer making a deal with the primary mortgage holder to accept less than the amount due on a mortgage; rather than the lender taking over the property through the foreclosure process and then ultimately loosing money on the property by selling it at a foreclosure auction.

Once a property goes into foreclosure the lender passes along the file they have on the property over to their loss mitigation department. It is the loss mitigator's job to deal with the foreclosure and help the lender to retain as much money from the deal as possible. While the loss mitigation department may not act like they want to conduct a mortgage short sale, the truth of the matter is that generally they loose less money that way than having to auction off the property on the courthouse steps.

Dealing with a loss mitigator can be very challenging, especially to new real estate investors. The best advice I can give you is to try and always remember that it is in the loss mitigator's best interest to ultimately deal with you. While they may act like they are not interested in negotiating with you, they are from the first time you reach out and contact them. For those who will not deal with you, there really is nothing you can do but go find another deal to make and leave that one on the table. There is nothing you can ultimately do about it and you are much better off finding other deals which will make you money.

Many real estate investors ask what is a reasonable offer to make to a lender for a mortgage short sale? Generally the rule of thumb is about 80% of the current mortgage balance on the property. But, the absolute rule is that you should never offer more money than you want to have into the property, and never more than you think the property is worth to work with and either sell or rent out.

By making a reasonable short sale offer, and treating loss mitigators well, you can generally close a deal with a mortgage short sale to your benefit.

When it comes to real estate, one of the best locations all around the world is no doubt, Miami in Florida. The place is surrounded with pristine and magnificent beaches, the best tropical paradise, and the friendliest and most accommodating residents. Miami, by all means, is one perfect haven to invest on a real estate property.

However, being a perfect place at that, real estate properties in Miami are undeniably very expensive. But with the right real estate broker plus the proper background as to how the real estate industry in the area goes, you can easily find the perfect property that suits you right and serves you well.

A lot of people do not actually know that real estate rates can possibly be negotiated. There are a few ways on how you can cut down those highly-expensive property rates and one of them is to hire reduced-fee real estate brokers.

Why Should you Hire Reduced-Fee Brokers?

If there are reduced-fee brokers, then there are standard-fee brokers and instinctively, no real estate broker will own up to that particular statement simply because rates in the real estate industry are negotiable. This explains why a lot of brokerages are creating their own market niches in the hope of capitalizing their growing realization in providing clients with negotiable property rates. This action additionally, is aimed at providing clients with money-saving properties, as well as rebate commissions to buyers.

Here are some examples on how discount realty brokers operate.

Flat-Fee Listing

This type of property brokerage takes all those listing at flat rates, paying only cooperating fees on top of the original amount to the selling brokers. These said cooperating fees are paid by the sellers themselves. It is normal to find brokerage ads that offer to list properties at a given fee. However, most of these ads have tiny prints. These are the disclaimer that says the fees are exclusive only to the selling broker. Since this can be misleading, consumers must be wary about this.

Buyer Commission Rebates

You can also avail of real estate agents advertising that if you seek their help in finding you a home, the company will relatively credit the buyer a part of a percentage from the commission or even a flat-fee at closing. The money used basically comes from those fees that sellers pay to the brokers who present their possible buyers.

In general, a realty company that provides its customers with some of their income does so in hopes that it can attract bigger volumes of the business.

Graduated Fee Policies- These brokers offer more services and fees, but greatly depend on work required and the type of representations.

Why is it Better to Accept Reduced Services?

Buyers and sellers opt to accept reduced services to save money. That is primarily the major motivation.

There are a lot of discount brokers in Miami that can help you with your real estate concerns. If you wish to find one, you can go over the Internet. Take enough time in looking up the different companies and be careful in scrutinizing and studying well the services they can offer.

http://miamirealestateinc.com - Miami Real Estate

As we approach a new year the turbulence and changes in the housing market continue. The days of buying a home, then quietly folding your hands and living happily ever after are gone for ever.

This is not your grandmothers or even mothers homeownership. Today to be a homeowner and remain a homeowner, it's important to stay educated and informed. Why? Because the housing market continues to change everyday. Especially now.

In the past when real estate almost sold itself, financed itself and quietly got along with everyone. Even the uninformed , uneducated and misdirected could survive - and even prosper owning a home. That's no longer true. There's a shaking going on in the housing market, in case you haven't noticed.

Many market experts call it an adjustment. Every industry has it periodically. When a market adjustment or shaking happens it shakes loose everyone whose under financed, uninformed or unprepared. To stay a homeowner in this turbulent market you have to be all three. Properly financed, informed and prepared.

You'll need skills to weather this housing storm and the sooner you get and use these skills that better chance you'll have of weathering this housing market shake-up. So, as we move further into 2008 make it a point to use the following five skills. Having and using them will make 2008 a better homeownership experience for you.

Here's the Five Skills Every Homeowner Will Need in 2008 To Survive.

1. Learn how to improve your home to save energy.

With energy cost soaring through the roof and gasoline approaching $100 a barrel as experts predict, gaining more knowledge of how to conserve energy grows more important each day.

With the instant cost savings, tax breaks and tax credits from the government, you can't afford not to know more about this cost cutting subject.

To learn about energy savings and how you can receive tax breaks from Uncle Sam for having a more energy efficient home.

2. Learn how to choose a dependable contractor or repairman. The cost of home improvements and repair is one the largest expenses you'll have for your home.

With most contractors and repairmen charging upwards of $50 to $100 an hour and beyond, it's vital to be able to choose a dependable contractor without going broke.

This is a skill every homeowner must have to get the most for their money, because not all contractors are created equal.

The key is to know how to separate the big promise makers from the promise keepers. To find out more on how to choose a dependable contractor.

3. Learn how to buy the best value insurance.

With housing values declining or flat in many areas of the country, it's too bad we're not insured for that. However, knowing how to examine your insurance policy and shop for the best value continues to be an important skill.

A recent university study found over 37.4% of the homes researched had improper insurance coverage. These homes had either too much coverage for the value or too little coverage to rebuild in case of fire or other natural disaster.

So, knowing how to buy the best value insurance for your money is another skill to have in 2008 because every penny will count.

Remember you won't have appreciation to cover you anymore - in fact your home may be declining in value for the next couple of years. To find out more on how to buy the best value insurance.

4. Learn how to shop for the best refinancing.

If you're in a fixed rate, low interest loan now you may never need to refinance again. Congratulations. But should you need to make an unexpected repair, have another major expense or just need some extra cash - you'll still need to know how to shop for the best refinancing deals.

If you have an adjustable rate loan now, you'll definitely need to have and develop a skill to shop for refinancing.

With the glut of lenders throwing numbers, promises and solutions at you from every direction, you better know how to separate the lenders from the predatory pretenders. To read tips on how to refinance the right way.

5. Learn how to do more ... do-it-yourself.

With the cost of hiring a contractor expected to increase in 2008, another skill you should consider cultivating is learning to do minor repairs and replacements yourself. But make sure you know your limitations.

The good news is you're living at a time where you have access to more help, information and instruction on how to do it than at any time in history.

Take advantage of the many learning avenues available. It will surprise you how easy and simple changing a light switch, fixing a leaky faucet or landscaping your back yard is when you have the right instruction. You'll self-esteem will soar and as well as your savings.

As we quickly move into a new year, as homeowners it's essential that we stay informed. Unlike days gone by you'll find the housing market will be less forgiving of homeowners and would be homeowners who ignore the new school rules of homeownership.

You must now make it a point to understand the written and unwritten rules you'll face in 2008 and beyond. Why? Because the ideas and decisions our Congress and banking industries will create and enforce in 2008 will affect all homeowners and would be homeowners.

The most informed and prepared homeowners will weather this storm. Stay tuned and I'll continue to do my best to keep you informed and prepared in 2008.

What is title insurance? How much does it cost? Should I buy it in Rhode Island(RI) and Massachusetts(MA)?

Owner's title insurance protects the Buyer of a Real Estate against undiscovered liens or defects in the title prior to the time of purchase in both Residential and Commercial Real Estate. Title insurance insures the record title and protects an owner of property from certain losses arising from defects occurring prior to the date of the policy. Therefore, it differs from other types of insurance because it is retrospective in nature. It also differs from other types of insurance because there is only a single premium charge, but the protection lasts for as long as you own the property.

There are different types of policies which protect both owners and lenders. Lender's title insurance performs the same purpose, but only for the lender in a transaction. The fee is typically about $2.50 per $1000 for lender's coverage and $3.50 per $1000 for owner's coverage. A Lender's policy is required and you are strongly encouraged to purchase an owner's policy for numerous reasons. If you have any questions in this regard or have been given advice that an owner's policy is not necessary than please contact a Rhode Island (RI) Real Estate Attorney.

Since one's home is usually the single biggest financial investment, it is highly prudent and wise that a homeowner would want to protect that investment and enjoy the benefits of ownership. An owner's title policy is that protection.

What type of claims are covered by Owner's Title Insurance?

The owner's policy insures against loss or damages sustained by the owner by reason of historical discrepancies such as forgery, undisclosed but recorded prior mortgages, bankruptcies, liens or divorces, deeds not properly recorded, missing wills or heirs, and inadequate property descriptions.

Does a title search or title insurance cover zoning issues?

No. Zoning determinations are completely separate from the title to the property. If you want an attorney to verify the zoning for you, an additional fee would be required.

There is a silver lining to the "dour" Arizona housing market and economic outlook reported yesterday by the AZ Republic.

I have to put my two cents' worth into the discussion on the Housing Market after a misleading headline appeared on the front page of the AZ Republic 12/6/07.

The headline reads: "Housing market hit harder than analysts predicted".

Last week I attended a seminar given by one of the economists quoted -- Elliot Pollack. I'm sure he wasn't thrilled that his 120-screen powerpoint presentation was boiled down to the following quote: "There is no quick fix. We have a long way to go. Boy, it's a mess."

So here are my qualifying comments:

The "hard hit housing market" refers to the fact that new home housing permits are down 30% instead of the forecast 17.7%. Certainly this will have an effect on the overall economy, but it is only one of 10 major factors. Most of the others are up due to increased exports (due to the falling dollar), and commercial and industrial projects going up all over the Valley.

But this drop is actually a good thing. The reduction in "new starts" will help reduce the supply-and-demand gap in the current housing market that has created an 18-month inventory Valley wide. (The inventory is currently at 10 months in Tempe.) As supply goes down and buyers realize the sky (homes prices) is not falling, sales will pick up. What Pollack was referring to when he said we have a long way to go is that it may not be until late 2008 that we see a turn around, and 2-3 years before we get back to normal.

Foreclosures may decline:

Another unknown factor and potential cause for concern just became a little more hopeful. Foreclosures could increase the supply side of the housing inventory, but the number of foreclosures may slow down if today's news (December 6) is correct. President Bush will be outlining a plan to freeze the interest rate hike on sub-prime and variable interest loans.

Another glimmer of hope:

For the market to get back to "normal" (pre 2004-2005 prices and conditions), the inventory of homes for sale needs to come down from the current level of 58,000 to approximately 35,000. For the last 3 months (September - November) the inventory has not increased, suggesting that, if the rate of foreclosures does not increase, we may see a steady decline in the inventory after the seasonal holiday slow down. The other important favorable indicator that will help lower the resale housing inventory is that the job and population numbers are still putting Arizona in the top 5 markets in the nation.

Stay tuned.... Weighing in on the media spin of the housing market (i.e., whatever will sell papers) may become a regular feature of my blog. Be sure to visit my website for more information about the changing market in Tempe, Arizona.

You might be surprised to know that that there is a difference between being a Realtor and a real estate agent. Although the two terms are commonly used interchangeably, becoming a Realtor takes much more work, dedication, and education than becoming a real estate agent. In addition, becoming a Realtor and maintaining this type of certification requires adhering to certain high standards that are not required to become a real estate agent.

Becoming a Real Estate Agent

Becoming a real estate agent is not necessarily an easy task. After all, in order to legally work as a real estate agent, one has to complete several weeks of schooling and then successfully pass an examination. In order to successfully pass the examination, you have to have a solid understanding of real estate laws and practices. At the same time, successful completing of the coursework and passing the test really only tests the person's knowledge but does nothing to test the person's code of ethics. This is what differentiates a Realtor from a real estate agent.

Becoming a Realtor

In order to become a Realtor, a person must first successfully complete the requirements to become a real estate agent. Then, the agent must complete certain steps in order to become a member of the National Association of Realtors. It is only at this time that the agent can properly be referred to as a Realtor.

For an agent to achieve this special designation, he or she must commit to treating all of the people involved with the purchase with fairness, which includes both the buyer and the seller. In addition, members of the Association must adhere to a strict code of ethics. This code includes agreeing to never mislead the buyer about the value of the home in order to secure a listing , to maintain confidentiality, and more.

Members of the National Association of Realtors are also more dedicated to education. In fact, in order to maintain their membership, members of the Association are expected to maintain a greater knowledge of the selling and buying process than those that are not members. Therefore, you can rest assured that the professional you work with will be highly knowledgeable about the buying and selling process as well as how to properly care for you and your needs.

Recognizing a Realtor

The easiest way to recognize whether or not a real estate agent is also a Realtor is to look for the Realtor logo, which is simple the capital R with a circle around it. This logo will be displayed on the Realtor's sales literature, business card, and other marketing materials.

Aside from the logo, however, you will be able to recognize a Realtor by the exceptional level of service and knowledge that these agents bring with them. Since most home purchases today exceed $100,000, you certainly want to have a professional on your side that you can trust to look out for your best interest throughout the home buying experience.

Frequently a home inspector is asked to re-inspect repairs at a house where that inspector had previously performed an inspection. This is typically done at a fraction of the cost of the original inspection. On the surface, this process sounds simple enough but, in fact, home inspectors are often very uncomfortable doing re-inspections. While this might seem strange to the casual observer, the reasons for this reluctance on the part of the inspector are described below.

An inspector, and this is the primary role of the position, is expected to go in to a home and find visible defects -- some of which might be subtle. The inspector should recommend that the repair work be done, and that the system be evaluated for upgrades, by a qualified party: a licensed electrician, a licensed plumber, a licensed contractor, a licensed roofer, a licensed HVAC professional, etc. So far, it seems simple enough but then reality sets in. The seller or a friend, or someone free, cheap or casual labor, will end up doing all the work at a fraction of the cost one would pay to a qualified professional. While that might be satisfactory for some smaller maintenance or cleanup jobs, the big problem comes in when this same party works on complicated repairs, projects or systems. For example, let us assume that the inspector initially found melting insulation on solid-strand aluminum wiring in the main electric panel. The inspector later comes back to re-inspect and finds that somebody has snipped off the charred ends and put the same wires back in the same panel on the same terminals. Even if some better than average amateur repair was done at the melted wires, chances are that the aluminum wires are also corroded, melted and unsafe at the terminals at the other end where they connect to the wall outlet. The non-electrician, who did the work, had no clue that the problem in the panel was merely the tip of the iceberg. He or she missed the big picture which is equally, or even more, dangerous. Similar situations, where defects can be concealed by shoddy work, occur in plumbing, roofing, HVAC and other parts of the home.

Home inspectors are generalists, who know a fair amount about many different systems. The inspector is not, usually, an expert on any one area. Inspectors work hard to detect problems but then will, to make sure the repair is done correctly, refer work to specialists: licensed plumbers, electricians, contractors or HVAC technicians. That way the component or system called out as faulty, and anything more complicated in that system, will be detected and repaired by the specialist and that leads to an extra margin of safety for the consumer.

Trying to discern if work is done correctly is actually harder than finding the initial problem, especially if anyone involved in the repair is sneaky. That is the reason an inspector wants to see specialized work done by qualified and licensed parties. That policy, of recommending professionals, protects the inspector to some degree and is a kind of insurance policy. If it ends up that a licensed electrician, plumber or contractor did a lousy job, in a concealed area, that company is responsible for the problem that remains. On the other hand, if some fly- by-night worker with no skill or license only half does the work, then that can get an inspector into hot water. Take for instance, a worker who replaces visible galvanized steel supply pipe but replaces none of the rusted pipe that runs inside the walls. Six months later, as water begins to gush through holes in the pipes, the buyer is mad at the inspector for not guessing that the handyman didn't replace the rusted pipes that were hidden inside the walls. If a professional plumber had been in that equation, and did such poor work, the buyer would be able to complain to the plumber. But since the repair was done by an unlicensed party, who might have even vanished into thin air, the easiest person to get mad at is the inspector who is still around, insured but certainly could not see inside those walls.

Obviously, in a re-inspect, a wise inspector uses defining and exclusionary language. Also, a number of inspectors just flat will NEVER sign off on any electrical, plumbing, roofing or structural work unless invoices prove that all of the work was done by a qualified and licensed party. That policy applies regardless of how good the work might look on the surface. This kind of strict, and non-flexible policy, is always frustrating to the sellers or the realtors involved. Regardless, agree or disagree with this kind of policy, now you know why home inspectors feel that they have extremely high liability during re-inspections.

Gudrun and Tcat have discussed the market cycles and in quite a few of our pieces, how down trends in the real estate market are spotty, and not uniform. We found what for some is a real crystal ball! It is called The BRAC. This rather large tome may help you figure out is your market experiencing or about to experience a real estate recession? It turns out many builders look at The BRAC to figure out where to build new construction.

Certainly, are quite a number of factors to consider before even coming up with a probably yes or probably no real estate recession in your market. There are no definitive this or that methods of prediction. It's not a matter of just "reading the tea leaves" either. If you happen to be in an area containing one of the thousands of military bases, "The BRAC" can be a major clue to real estate boom or real estate recession. In this short article we'll take a look at what's that means.

The BRAC is actually an acronym from the United States government. BRAC is short for "Base Realignment and Closure". This is a fancy term coming from the Department of Defense (DoD) which tells you in a high likelihood, what side of the coin you are going to be on. Let's give an example.

We have mentioned to you on several occasions that an area that is doing well is Huntsville, Alabama. So unless you're a student of history, have business in that area or live in that area, you probably have little to no idea where Huntsville is or why is it hopping?

Huntsville is in the middle of Alabama, featuring one of the older mountain ranges in the United States. Now granted. Gudrun knows more about the geography of Germany than I do. When we were touring Huntsville. I mention to her. My understanding is that Godard had picked hear to live and work, because it reminded him of the Black Forest in Europe.

She agreed that the rocky limestone mountains and vegetation in the forest was quite similar. Sidebar, for those of you who don't know Got hard. He was literally, a rocket scientist snapped up by the USA at the end of the second world war to work on missiles and space exploration. So what does all this have to do with The BRAC? Well it turns out, just about everything.

NASA has a complex it runs in Huntsville. Makes sense. They use rockets too. Redstone Arsenal for the United States Army, is there as well. So what does this all have to do with the BRAC, You may be repeating.

As the world and technology has changed, so has military requirements. The bottom-line is, the Department of Defense is consolidating bases. If you're not familiar in the reading of management speak (sometimes called Sanskrit) --- consolidating bases means were closing up a bunch of bases. As in: kaput, gone, closed, good-bye.

As many military families live off base, along with 100% of the civilian support personnel and contractors, a base closure is highly likely to cause a real estate recession in your area. So what's up with Huntsville? Well it turns out that the remaining duties from the bases and installations that are closed still have to have something happen somewhere.

In this case it means: Huntsville wins! So of course, finding even empty land to develop on in Huntsville is a daunting challenge to say the least. Naturally of course than existing housing prices are on a solid upswing. However. Before the entire state of Alabama begins to cheer, we would like to point out the other side of the coin for Alabama.

Page 35 of the 2005 BRAC, updated in April 2007. The first listing for Army, State of Alabama. Abbott USARC in Tuskegee, Alabama. It says: "estimated completion date for all closure or realignment actions: May 1 2010".

Think that might cause a bit of a downturn in housing prices for Tuskegee? Of course, this is not the only closure happening. However, some are a little bit luckier than others. Looking at page 40 of the BRAC we see:

Faith Wing USARC Anniston, AL is about to suffer the same fate however, careful study of this BRAC entry reveals that while the closure will be complete. 1 July 2011, FEMA Federal Emergency Management Agency - Department of Homeland Security will be stepping in with a "Anticipated Transfer Date" of 1 September 2011. So a recession hitting this city is far less likely.

All in all, the BRAC weighs in at 1835 pages.

Perhaps now you can see how many factors can go into a real estate boom or bust in United States. We want to thank, J.C. Newark, California for writing in and asking why can be so difficult to figure out why some markets are sinking, while others are swimming.

Come on! It's dark, stuffy and hot inside this little box of electronics. Not only that, we cannot hear you when you talk to us. Follow J.C.'s lead and send either of us an e-mail to tell us what topics you would like to hear about.

There are a hundred and one wonderful things to say about Austin, TX. There are lakes and rivers, Zilker Park, the hill country, bluebonnets, 6th Street, the University of Texas (hook 'em horns), the music scene and the movie makers all contribute to the wonder of Central Texas. It is easy to see that Austin is surrounded by numerous smaller communities and towns that are tied to Austin by history and co-dependency. They make up a rich and vital part of Austin's growth and uniqueness. Heading east on highway 71, about 30 miles from Austin, is Bastrop, TX. Bastrop is a lovely town situated on the Colorado River. Early in Texas history it was almost the capital of Texas but was beat out by what was then known as Waterloo and later known as Austin due to land prices being cheaper in what is now Austin. It is a town with a rich heritage and has managed to keep their historical district and retain the old town charm that is part of what makes small town life what it is. Bastrop has maintained numerous older homes and buildings that have been restored to their former glory. They house the many shops, restaurants and inns as well as peoples homes that are the historical district. Along with its history Bastrop is a lively, vibrant and modern town with a lot to offer. Amidst all the growth and activity there are numerous new local businesses and restaurants, movie theaters, motels, hotels and bed and breakfast inns as well as superstores such as Wal-Mart, HEB and Home Depot, to mark both sides of the highway along the expansion of highway 71. Bastrop TX is home to local parks, with trails and family centers, as well as Bastrop State Park, and Lake Bastrop for picnics, camping and fishing. There are four 18 hole golf courses and communities within a few minutes of town. There are rodeos and festivals, art shows and golf tournaments, football and soccer games.

The real estate in and around Bastrop Texas is as varied as you could find anywhere. It is home to stands of lush loblolly pine trees (which you will not find anywhere else in the area) as well large oaks and maples. There are wonderful open fields for cattle grazing or your own horse ranch. There is real estate with river frontage on the Colorado River or properties with smaller creeks, streams and ponds. You can find new home subdivisions in town or farther out in the rural areas to choose a home from or you could buy a lot or acreage and build your own home. Whether you would choose to live in a stately older home in town or a horse ranch is more your style, Bastrop has real estate that would suit most any home buyers taste.

Bastrop is one of the fastest growing school districts in Central Texas. Bastrop has one high school, two middle schools, two intermediate schools, six elementary schools and an alternative high school. Bastrop school district serves the city of Bastrop, Cedar Creek, Red Rock, Rockne, Paige and vast rural areas of Bastrop County.

Some of these rural areas and smaller towns around the Austin Metro area are growing as fast as the city. Many of the residents commute to Austin for employment and shopping, while others find that what Bastrop has to offer meets their needs.

Sales is a numbers game. Prospecting is a numbers game, as well. The problem is too few agents actually know their numbers and how to track them.

The information below will help you understand and set objectives for your ratios of contacts to leads, leads to closings, appointments to contracts, and contracts to closings. Knowing this information moves you almost immediately into the league of our industry's most productive agents.

The law of accumulation

The law of accumulation basically says that achievement is the result of ongoing and constant effort. Everything in life, whether positive or negative, compounds itself over time.

An illustration of this is money. If you want to be a millionaire, all you have to do is save a little on a consistent basis, and the law of accumulation will take over.

If you put away $2.74 a day from the time you were 20 until you were 65 and you received an average rate of return of 9% over those years, you would be a millionaire. You would have saved about $45,000 over those 45 years; the law of accumulation did the rest. If you ask most people if they would trade $45,000 for $1 million, they would say yes, but few people make the effort.

You can expect an equally uneven return when you invest in prospecting. The tricky part is that the reward for your miniscule investment of prospecting effort doesn't happen overnight. You have to prospect for 90 days before the law of accumulation does its thing. As my good friend Zig Ziglar says, "Life is like a cafeteria. First you pay, and then you get to eat."

The power of consistency

Marginally successful agents take a binge approach to prospecting. Highly successful agents are far, far more consistent in their efforts.

I can't think of an agent who better exemplifies the power of consistency than a man I met in 2000 by the name of Rich Purvis. Rich had entered the field of real estate after 25 years in a fire-fighting career. His goal was to earn $100,000 in 2000, and when I met him in March his income was standing at a disappointing $2,500. I told him, if you call ten contacts within your sphere of influence each day, you will get your $100,000 before year's end.

I can count on one hand the number of times he failed to make the ten contacts. He blew by his goal of $100,000 in less than nine months and ended up earning more than $120,000 that year. In 2001 he crossed the $200,000 mark - all the result of his extraordinary consistency

The never-ending prospecting cycle

Agents can easily find time to prospect when they have no listings, no pending transactions, and no buyers to work with. The secret is to continue to prospect even when you are busy with all the other activities.

Look at a typical agent's annual income stream, and you will see that it goes up and down like a yoyo. Most agents have four to, at the most, six good income months per year. The rest of the time - butkis - nothing. If you could overlay their revenue stream with their prospecting numbers, you would see that prospecting tapers and revenue decreases, leading directly to the business void that follows.

Our job as a salespeople is to fill a pipeline of leads, so we always have new prospects to work with. And the only way to keep a healthy pipeline or conveyer belt of leads is to prospect consistently.

Tracking daily goals and results

Any business in sales can be broken down to a series of repeatable numbers that, over time, will produce a pre-determined result. Once you establish goals and track your performance over a few months, you will be able to determine the activities you need to earn the income you desire.

When I was selling real estate, I decided that I needed one appointment per day in order to reach my income goal. I knew, through tracking my numbers, that I needed three leads to create one appointment. What's more, I knew I needed to make twelve contacts to generate one high-quality lead since, through monitoring my numbers, I knew that two of three leads would be "tire kickers" - contacts who didn't have the desire, need, ability, or authority to either list or buy in the reasonably near future.

Based on that knowledge, I determined I needed to make 36 contacts a day: 12 each for the three leads I would need to result in one appointment.

Miraculous!

The law of averages evens your numbers over time. Don't evaluate yourself on a single day's achievements. Even a week is too short a period for evaluation

Over the past 20 years, a new way of creating income has gathered popularity with average people. Instead of just buying a home, people are buying homes for sale and renovating them to sell for profit. A variation of this is the purchase of homes for sale to rent out for profit. This increasingly popular trend is changing the face of real estate in America.

People who purchase homes that are in foreclosure or are in very poor condition with the sole purpose of making repairs and selling the homes at a profit are often referred to as "house flippers". This can be a profitable business for the flipper but it also benefits the other homeowners in the neighborhood. If a neighborhood becomes a more desirable place to live the value of all homes tends to rise.

House Flippers get into this business to make quick money. Often, the repairs and renovations are completed in less than a month with the hope of a quick sell. That way, they can actually avoid paying a mortgage payment on the house, thereby increasing their profits. There are many television shows featuring the ups and downs of house flipping, which show the popularity of this particular career path.

The purchase of a sell and rent back property is a possible option for a person who wants to begin a career in real estate. A seller in financial difficulty may wish to sell a home and then rent it back from the new owner. The seller is able to remain in his home and the buyer builds equity through actual ownership of the property. Both parties benefit. The seller is able to liquidate his equity and access needed funds and the buyer receives monthly rental payments while building real equity in the purchased property.

The trend of properties for rent backs are gaining popularity with the older generations. The benefits of doing so are very attractive like they are spared the cost of full mortgage, reduction of other fees and further, repair and upkeep of the property is also no longer a headache for them. This option is becoming increasingly famous among those who cannot maintain their house because of either their physical or financial issues.

Real estate has changed over recent years. Buyers now have many options such as sell and rent back. Investors are also buying and flipping properties. The market has many opportunities for investors with changing interest rates and people risking loosing their homes.

Need to raise some cash? Whether you have had your home for a long time, or a short time, you may still have usable equity invested in it. One reason is because equity can accrue without any effort on your part. You can also help your equity to accrue, and once you have equity, it can be made to work for you.

Depending on how long you have owned your present house, it will probably be worth more than you paid for it. When you first buy a home, the mortgage payments for the first five or so years seem to be mostly paying off the large interest portion. So your home is only being paid for by you little by little. But in most healthy realty climates, the purchase price of your home is quietly rising with the current market value of houses.

Of course, you can push up the equity in your home by renovating it, or adding improvements. If you can do your own basement or loft conversion, it will increase the market value considerably.

Also such renovations as landscaping, re-wiring, new kitchens, new bathrooms, paint job, installing a fireplace. building a garage, re-roofing, building a fence, will all increase the value and sale-ability of your home.

Beware of your choices here, because not everything will bring back your investment dollars; realtors advise that a swimming pool costs more to install than the increase in your house value. Likewise a hot tub.

Another way to increase your own equity is to take out a mortgage contract where the policy allows you to pay off a lump sum once a year. This knocks down your interest charges considerably, or you can just leave your payments the way they are and finish paying off your mortgage before the due date.

So, equity can be increased by simply having paid into your mortgage for several years, by doing home renovations and especially improvements like adding a room, by paying off a lump sum every year and by rises in the real estate market in your area.

Having found out how to increase your equity, how do you go about realizing it for your own use? See Part 2 for this.

Everyone seeks maximum exposure when trying to sell a property and to attract a tenant or potential buyer. Many different methods are available to choose from when you are looking to bring maximum exposure to your property.

When your signs are being taken down by mischievous teenagers and home owner associates, and the postcard mailers that sent out aren't yielding many positive results, placing an ad in the newspaper is going to be your best recourse. Actually, this should probably be something you do long before you do the other things. Newspaper ads are generally not very expensive. Most papers not only list them in their paper, but they will also list them in the ads section on their website.

Here are a few tips to remember when putting an ad in the paper.

One of the most important thing to remember is that you don't need a lot of information in the add. Remember the only purpose of an ad is to get them to call you. You're not selling the house in the paper.

And then there are, what are called, "hot words" that are definite words that you want to put in the add. When applicable, words like "Lease Purchase" are fantastic words to put in the headlines of the ad. You may also want to consider printing something like "Owner Will Help". And then, a little just, lovely, 3 bedroom, 2 bath, whatever else you can say good about it and then maybe something like, "We'll accept anything on trade." The goal is to get them to call. From there, you get them to come look at the property. Once you get to this point, most of your battle is over.

Another important detail is to put white space above and below the ad. The space makes it more noticeable as people are browsing through the ads looking for a home. The ad that has no space above or below tends to blend in with all the other print on the page.

When considering contact information, some people have chosen to activate am 800 number with the phone company. The free call can attract potential buyers from near and far. One thing that you will certainly not want to do is list a cell phone number in the newspaper. Since cell phone usage is billed differently than that of a landline or 800 number, the adverse affects of doing this can be catastrophic.

Many more tips are available throughout the Internet. Following a few of these tips and researching some of your own will only help increase your chances and attract the right person to your property.

In finance, a capital gain is profit that results from the sale or exchange of an asset over its purchase price. If the price of the capital asset has declined instead of appreciated, this is called sa capital loss. Capital gains occur in both real assets, such as property, as well as financial assets, such as stocks or bonds.

Gains or losses from the sale or exchange of a capital asset are considered capital gains or losses. Per the IRS, almost everything you own and use for personal or investment purposes is considered to be a capital asset. Some examples are your home, your furniture, and any stocks or bonds you might hold in your personal account. So if a person decides to sell any of these asset for more than what they were originally purchased at, the gain is considered taxable. The reverse side is also true that capital losses can be used to offset your tax liability. However, this is not true when it comes to personal-use capital assets like automobiles. They do not affect tax liability.

It's very important that, in this business, you be very well versed in tax laws when it comes to capital gains. If you fail to pay close attention to these laws, you can quickly find yourself in trouble with the IRS.

There are some things to remember when dealing with taxes pertaining to capital gains.

One important detail is that once you bought a new property, you've got two years to sell it before you even get taxed on it. You may possibly choose to rent it for two years before you get taxed on it. If you sell the property after that, then you are going to pay capital gain on it. Long term capital gain would be around the 15% range.

Some may wonder if it is a good idea to move into the property for a period of time to avoid some of the capital gain taxes. This is something that you should discuss with your CPA. It may possibly be a good idea, but it depends on your own personal situation. If you have purchased a property that's in a high appreciating area, then you have a decision to make. Especially if you currently don't have the cash and can do without it. Forget about the tax ramifications and focus on the appreciation of the property. You won't get depreciation unless you do call it a rental.

Real estate markets of Pune, the sister city of India's commercial capital Mumbai is sitting on a trajectory of growth. Though, the city has been the centre of attraction for the past several years, property markets have especially taken a cue with Indian economy charting high growth rates, on the fronts of its burgeoning services and manufacturing sector.

Commercial real estate in Pune

Commercial properties at the western corridor of Pune are buzzing with real estate activities. Near about all the large IT companies of India including Infosys and Wipro have opened their software development facilities in the area. International IT and ITes giants are also scouting for commercial property in the area quite aggressively.

Basically, this emerging picture at the peripheral locations of Pune started with the construction of Rajiv Gandhi InfoTech Park at Hingewadi. The successful completion of the project not only established Pune among the most sought after locations for technology majors but also catalyzed the commercial real estate scenario in the city.

Residential real estate in Pune

As per the industry estimates, Pune would need as many as 40,000 residential properties every year to meet its housing requirements.

To tackle the same, the Maharashtra government has now given approval to private real estate developers for establishing fully integrated townships in Pune, under the Public Private Participation (PPP) model.

In view of leveraging this opportunity, Pune-based real estate developer City Group has come forward with its ambitious residential township project 'Amanora Park Town', the first one after the government's declaration.

Under this flagship project, the government would be supplying land to the property developer, who in turn will build up all the infrastructure comprising residential units and commercial properties. The developer will also be entrusted with the responsibility of erecting the social infrastructure encompassing healthcare centres, educational institutions, and entertainment facilities.

Growth Drivers

Demand for house on rent in Pune is equally driven by employees and students, who come to pursue their studies at this city complemented by quality educational institutions.

"The local economy of Pune is developing quite impressively and thousands of people settle down in the city every year, owing to job opportunities in the city. This really keeps the demand factor for rental homes in Pune in rolling," said Shad Ali, a city-based property dealer.

The Overland Park, Kansas area is one of the more stable areas in the Kansas real estate market. One of the reasons is because Overland Park is one of the main areas for call centers and distribution centers in the Midwest. This means there are a number of large employers that help to form a strong and stable job market in the area. Currently the greatest activity this areas Kansas real estate market is coming from single-family homes this of course goes along with the increase in job market stability in the job market and the growth of the area.

The nearest metropolitan area to Overland Park, Kansas is actually Kansas City. This city also holds a lot of the job market for the Overland Park area and has a number of large employers as well. The average time for homes to sit on the market in Overland Kansas is currently only 30 to 60 days. However, there are more sellers than buyers in the currently in this area of the Kansas real estate market. The market trend has not changed and is holding steady, and the housing inventory holds a good supply of homes and property in all price ranges. Either if you are looking to purchase property for investment purposes or if you are planning to move to the Overland Park Kansas area, the average price for a home is around $325,000, compared to last year. Housing prices are down between 0 and 5%. Unfortunately, there are multiple offers on homes in this area of the Kansas real estate market. This means that there is less opportunity for buyers to negotiate as the current sale price is set to between 95 and 100% of the initial asking price.

If you are looking at new construction in the Kansas real estate market, this is one of the areas to consider. There are a number of new communities that either are currently under construction or have just been completed. These communities may offer a hit in gem of an investment possibility as they are currently offering move-in specials in order to attract buyers.

While the real estate in this area of the Kansas real estate market may be slightly more expensive than other areas of Kansas. It is an excellent investment opportunity. The reason for this is the ever increasing and large number of employers, Overland Park, in the Kansas City area is home to some of the larger distribution centers for stores like Sears and Kmart. There are also a number of call centers, which hire and maintain a large number of employees if you are looking to invest in rental properties this may be a market to consider. Other things to consider when moving to or investing in this area is the weather. Kansas is located in the plains area of the Midwest winters are dry, and there are often blizzards and other heavy snows and summers can be excessively warm.

Dubai is widely renowned for having the biggest and tallest of everything, and if you take a drive down Sheikh Zayed road, you will notice that some of the world's biggest skyscrapers will line the way. With the Burj Dubai well over 150 stories already, and expected to be completed around this time next year, it's also worth noting that not all property in Dubai is high-rise, although it doesn't seem like it. The Dubai freehold property market is a great combination of high and low-rise properties, because not everyone wants to live hundreds of feet above the earth, even though the views are great!

Low-rise options on the Dubai property market

The most obvious way to live close to the ground in Dubai is to buy a villa. Villas are large, spacious and come complete with a garden. The one problem that seems to persist with villas, though, is that they are expensive. There is a shortage of villas available on the Dubai freehold market, which in turn has pushed prices up quite high, meaning it's going to cost you several million for even a modest buy. While villas are usually necessary for the large family, not every property buyer needs or wants that much space, or is bothered about having a garden. If we think of apartments as an option though, immediate thoughts go to high-rise buildings, which most of them are. You could buy an apartment in a tall building, but near to the ground, which will actually save you money as views come with a premium, or you could buy an apartment in a low-rise building. With the Burj Dubai right next door, you might be surprised to learn that Downtown Dubai has a great selection of low-rise apartments in the Old Town sub-development, to reflect traditional Arabian architecture. Also worth mentioning are the Palm Jumeirah, Uptown Mirdiff and Al Badia Hillside Community.

High-rise options that are worth your time

Going back to the usual apartments that Dubai offers, there are so many great options to choose from, if you can't find what you want in the low-rise regions. Apartments at Dubai Marina continue to draw in property investors, as there is just a huge amount of choice and price levels all in one place. The amenities and facilities are excellent and you are right in the middle of new Dubai. Again, Downtown Dubai has high-rise properties as well, so you can really have your pick here, although expect prices to be higher, due to the excellent location. We are particularly looking forward to some of the properties that will take shape in Dubailand over the next few years. We will keep you posted with new developments!

If you're buying a home, you must ask and answer the question, "Should I hire a real estate agent?" There's only one reason not to hire one--to save the commission. There are several reasons you might decide to hire a Realtor:

1. The Agent has access to thousands of available homes through the Multiple Listing Service.

2. The Agent has experience in finding, screening, and evaluating homes.

3. The Agent has education and experience in drafting contracts.

4. The Agent is constantly keeping up-to-date on changes in the law that can substantially effect your transaction.

5. The Agent as your "Buyer's Agent" does not cost you anything, because he/she gets paid a commission at closing out of the Seller's proceeds.

6. A good Realtor does this full time and is very good at it and very professional.

You may be thinking, "Where can I find a Realtor like that? I'd hire him." Well, they should all be like that, but we know they aren't. This does seem to emphasize the importance of actually interviewing your Realtor before blindly hiring him, doesn't it?

The tendency of human nature is to assume or think that we can do everything ourselves, including buying our dream home or investment home. Please be careful, because that kind of thinking could cost you a small fortune and lots of stress. As an attorney for almost 20 years, I made a lot of money from buyers who did not retain my services until after the fact. As I was fond of saying, "You can pay me a few hundred dollars now for advice, or tens of thousands later, whichever you prefer." Why use an Agent to buy? Because it is wise.

Now, let's get to the fundamental rules on retaining a real estate agent. For purposes of full disclosure, I am a retired real estate attorney and now a real estate associate broker. The rules are not difficult, but are not widely known or not widely practiced.

1. Identify an Agent who is first of all competent.

2. Filter through those who are competent with another qualification--honesty.

3. Hire the Agent because the Agent meets your criteria, not just because the Agent works at a large franchise.

4. Know what to expect from your Agent, and know what he/she expects of you.

Now, let's get into a fuller explanation of these criteria, because for you there is much at stake.

1. Identify an Agent who is first of all competent.

Before you even contact your agent, see what you can learn about a prospective Realtor. Realtors like to talk about "prospects" like you. You might as well talk about Realtors as prospective Realtors. Create a list of half a dozen Realtors, and then filter though that list. Can you get a good referral from a trusted friend or business associate? Add that name to your list. Check out the Internet web sites to see who is doing what in the area you are interested in. Be careful not to assume that a "Top Producer" can do the best job for you. Maybe. Maybe not. We're looking for competence here, not just volume. Check out the Realtors resume, and find out what has he been doing all these years that will contribute to doing an extraordinary job for you. Frankly, someone who has been a housewife for 25 years and then gets a real estate license probably does not meet this competency standard. That person could do a great job for you on a single family purchase or sale, but you can still end up with some very serious and expensive battles because an addendum was not drafted precisely. We never get away from the challenge that all Realtors have: when a Realtor drafts a contract, they are held to the standard of a lawyer.

Look at the prospective Realtor's history. Does he have experience in anything related to real estate that can be helpful as a Realtor? Was he a builder, contractor, plumber, inspector, loan officer, title officer, escrow agent, attorney, urban planner, or property manager? If not, it's not the end of the world, if he has a great deal of education and experience that can substitute. Remember, the goal is to find a Realtor who knows a lot more than you do about real estate and drafting contracts, and who can keep you out of trouble in the process. You want someone you feel is competent and can do a great job for you.

2. Filter through those who are competent with another qualification--honesty.

Some may think I'm joking when I say find an honest Realtor. I'm not. Honesty in this context isn't the simple childhood concept of not telling a lie. Today, our culture has extended the boundary of subtle misrepresentations far into dishonest territory, but it's not considered dishonest by most standards today. Word games. There are plenty of them, and what isn't said is often as much of a misrepresentation as what is said. So be on guard. Make sure you have enough discernment to recognize honesty, or lack thereof. And, by the way, there are a few very dishonest agents out there. Don't use them. ("Gee, he sure seemed like a nice guy when we first met." Heard that one dozens of times.)

3. Hire the Agent because the Agent meets your criteria, not just because the Agent works at a large franchise.

When you hire a Realtor, you hire the person, not some fictitious franchise or building or corporate atmosphere. It's your Realtor who does the work, and if he can't do it well, the rest of the Brokerage is not going to do it for him. Furthermore, if he delegates important responsibilities to a non-licensed person or a less experienced agent, what good did the franchise or largeness of the company accomplish for you. Maybe the opposite of personal attention. Ultimately, whether you get outstanding professional service depends on your Realtor, not the rest of the building.

4. Know what to expect from your Agent, and know what he/she expects of you.

If you have made a list of half a dozen prospective Realtors (as opposed to just a real estate agent), filter through that list with further research, much of which can be done right on the Internet. You should personally interview the final contestants in person and in their office during the week day.

Once you have decided on a Realtor, tell him exactly what you expect of him, and ask him if he could do those things for you. Then ask your Realtor something virtually no one asks their Realtor in the beginning, "What exactly do you expect of me?"

CONCLUSION. If you do all of these things carefully, you minimize the chances of misunderstanding with your Realtor, you increase the probability of a successful relationship and a successful real estate transaction, and that means more money in your pocket and less stress. And as Martha Steward would say, "That's a good thing."

Best regards,

Chuck Marunde, J.D.

Retired Real Estate Attorney

Associate Broker/R.E. Consultant

RE/MAX Performance Team

1007 E. Front Street

tel.: 360-457-4587

There is a little-known marketing secret that is used by PR professionals in order to explode their on-line and offline businesses. If you are a real estate investor entrepreneur, you could, of course, hire a marketing firm in order to exploit this type of marketing. However, there is a way to make use of this secret without spending thousands up front.

The secret are real estate articles, and it can literally bring business right to your doorstep.

You see, when many entrepreneurs think of marketing, they think of paid advertisements in newspapers and other media. While there is nothing wrong with paid ads, a free and informational real estate investment article or two is a fun, easy, and rewarding way to get even more effective marketing - often at no cost.

Providing free real estate articles on investing techniques or certain types of property investments work so well for a number of reasons.

*First, people like real estate investors pay more attention to articles than to paid ads.

Customers, including your potential homebuyers or investing clients, are bombarded with ads each day. They often appreciate - and are willing to spend time on - reading an article on property investing that gives them useful information without using the hard sell.

*Secondly, providing property investing information in the form of free real estate articles can establish you as an expert.

By publishing a real estate article - or a series of several real estate articles on a particular topic - you can easily position yourself as an expert to the media. In some cases, a reporter or media professional may contact you for a story. The fact is, investment-related articles can easily lead to more marketing and more exposure.

*Plus, real estate articles can mean additional income.

Depending on where your real estate article appears, you may get money for your work. You can also publish your real estate article on your website, where its keywords can attract more traffic to your business. You can even gather several articles together into a book.

Writing real estate articles is obviously a good idea, but many entrepreneurs get nervous about committing their ideas to paper or to the computer screen. They worry about their writing abilities or they worry that someone will steal their ideas. Both fears are unfounded.

If you can speak reasonably well, simply write the way you would speak to a client. Explain everything in simple terms and share the ideas that are important to you. There is no need to worry about someone stealing your article ideas, either. A quick search online will likely show you that just about every real estate topic has already been written on. It is very unlikely that your real estate article will contain information that no one in the business has ever encountered before.

If, on the other hand, your real estate articles contain fresh new information presented in an interesting way, it is very possible that your innovation will mean more attention and more marketing opportunities for you.

With so many advantages to writing, start developing and distributing free real estate articles today. Write about what you know best and then consider submitting your piece to a newspaper, magazine that publishes similar articles, or consider posting your article in an online article directory. Just remember to include some information about your business, so that your piece can bring you more profits!