1031 Exchange or Real Estate Investment Trust?
Mike Trudeau asked:
Over the last several years, real estate has been as hot as any other investment. It wasn’t until recently that real estate cooled a bit. During this time, we’ve all heard the stories of the easy money made investing in real estate. When money was easy, and there was no end in sight to the real estate boom, people were flipping houses like crazy. For many of these individuals, the 1031 exchange money could not be any easier. However, the times have changed. The downturn has taught even the most bullish real estate speculators that real estate can also go down in value. More than ever, investing in real estate, takes professional know-how, time, and resources to successfully invest in real estate. So, how does the average person invest in real estate, this day and age?
Well, there is a way, and it’s been around for quite some time. It’s called a Real Estate Investment Trust, or REIT. A Real Estate Investment Trust is a way for the small investor to invest in big real estate. A Real Estate Investment Trust is an organization that is set up to manage and invest in real estate professionally. You can purchase a Real Estate Investment Trust (REIT) via the stock exchange in the form of a stock, or privately. Private Real Estate Investment Trusts typically require that certain suitability criteria be met. Also, private REITs are typically longer-term investments, with liquidity considerations. Public Real Estate Investment Trusts can be bought and sold on the stock exchange and are considerably more liquid than their private counterparts.
Investing in a Real Estate Investment Trust can come in many forms. You can purchase a Real Estate Investment Trust that focuses on large-scale commercial real estate, for example. This would allow you to take part in major real estate deals involving 100 plus story buildings, that would otherwise be available to the ultra rich. Some Real Estate Investment Trusts may have their focus in apartment buildings or even new housing construction. The point here is that you can choose your Real Estate Investment Trust sector through one of these REITs. If you want a more professionally managed approach there are a large number of REITs actively managed through the purchase of mutual funds. This can provide for diversification, and individual real estate sectors.
Properly set up Real Estate Investment Trusts are tax-advantaged. This means that they are not taxed at the corporate level. However, they must be set up properly. It is required that REITs invest 75% of their funds in real estate. These requirements are met by income derived from mortgage or rent interest. Essentially, you’re relying on other parties for their expertise in the real estate arena. Going at it alone is tougher than ever these days. You have the typical headaches, like qualifying for a 1031 exchange, property taxes, escrow, title insurance, and so on. But, that’s really the easy part. When the real estate market only went up, the biggest worry for speculators was how to take advantage of a 1031 exchange and save on capital gains. Now, there’s much more to worry about, as real estate not only goes up, but it can certainly come down.
It’s important to keep in mind that Real Estate Investment Trusts also come with inherent risks. If real estate values plummet, and you have a large percentage of your assets exposed to Real Estate Investment Trusts you may experience declines, as well. This is where diversification is very important. The standard Real Estate Investment Trust me diversify you within different types of real estate, but you should always practice further diversification. Investing in different asset classes, sectors, and the life will provide you with further diversification. Make sure to work with a qualified investment advisor or do your due diligence when investing in any type of Real Estate Investment Trust.
FRANCISCO
Over the last several years, real estate has been as hot as any other investment. It wasn’t until recently that real estate cooled a bit. During this time, we’ve all heard the stories of the easy money made investing in real estate. When money was easy, and there was no end in sight to the real estate boom, people were flipping houses like crazy. For many of these individuals, the 1031 exchange money could not be any easier. However, the times have changed. The downturn has taught even the most bullish real estate speculators that real estate can also go down in value. More than ever, investing in real estate, takes professional know-how, time, and resources to successfully invest in real estate. So, how does the average person invest in real estate, this day and age?
Well, there is a way, and it’s been around for quite some time. It’s called a Real Estate Investment Trust, or REIT. A Real Estate Investment Trust is a way for the small investor to invest in big real estate. A Real Estate Investment Trust is an organization that is set up to manage and invest in real estate professionally. You can purchase a Real Estate Investment Trust (REIT) via the stock exchange in the form of a stock, or privately. Private Real Estate Investment Trusts typically require that certain suitability criteria be met. Also, private REITs are typically longer-term investments, with liquidity considerations. Public Real Estate Investment Trusts can be bought and sold on the stock exchange and are considerably more liquid than their private counterparts.
Investing in a Real Estate Investment Trust can come in many forms. You can purchase a Real Estate Investment Trust that focuses on large-scale commercial real estate, for example. This would allow you to take part in major real estate deals involving 100 plus story buildings, that would otherwise be available to the ultra rich. Some Real Estate Investment Trusts may have their focus in apartment buildings or even new housing construction. The point here is that you can choose your Real Estate Investment Trust sector through one of these REITs. If you want a more professionally managed approach there are a large number of REITs actively managed through the purchase of mutual funds. This can provide for diversification, and individual real estate sectors.
Properly set up Real Estate Investment Trusts are tax-advantaged. This means that they are not taxed at the corporate level. However, they must be set up properly. It is required that REITs invest 75% of their funds in real estate. These requirements are met by income derived from mortgage or rent interest. Essentially, you’re relying on other parties for their expertise in the real estate arena. Going at it alone is tougher than ever these days. You have the typical headaches, like qualifying for a 1031 exchange, property taxes, escrow, title insurance, and so on. But, that’s really the easy part. When the real estate market only went up, the biggest worry for speculators was how to take advantage of a 1031 exchange and save on capital gains. Now, there’s much more to worry about, as real estate not only goes up, but it can certainly come down.
It’s important to keep in mind that Real Estate Investment Trusts also come with inherent risks. If real estate values plummet, and you have a large percentage of your assets exposed to Real Estate Investment Trusts you may experience declines, as well. This is where diversification is very important. The standard Real Estate Investment Trust me diversify you within different types of real estate, but you should always practice further diversification. Investing in different asset classes, sectors, and the life will provide you with further diversification. Make sure to work with a qualified investment advisor or do your due diligence when investing in any type of Real Estate Investment Trust.
FRANCISCO
The Residential Real Estate Selling Process in Austin Texas
Joe Cline - Austin Real Estate Broker asked:
Decide to Sell
Deciding to sell your home is a big decision. The first step in this process should be to understand your motivations, expectations, financial considerations, goals and what you plan to do upon the sale of your home. Many people begin the sale process with unrealistic expectations or unclear goals. It then becomes difficult to meet their goals because these goals have never been clearly defined. You must begin to view your house, no longer as your home, but as an investment property that you want to market.
Setting the Price
Of course one of your most difficult questions is the listing price of your house. What price should you ask? This is an important part of the sales process. If you set the asking price too high, you may scare away buyers. Agents who feel that your house would not be a good investment may not even show the house. After the house sits on the market for a while, people begin to feel that there is something wrong with it because it hasn’t sold. Even if you could sell your house for an inflated price, many times a lender won’t approve a loan on a house that doesn’t appraise for that amount and the sale might fall through at the last minute. If you under price the home, you won’t realize the maximum potential of your investment.
Marketing Plan
Decide on incentives that to be offered to buyers, determine the best places to advertise, and determine how to show the home. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles.
Prepare the Home for Showing
There are two important ways that you can have an impact in making your house attractive to buyers: property condition and listing price. After deciding on a listing price, setup an appointment with a decorating company. They will give you some suggestions for making your house look its best. This process is called “staging.” The suggestions might be simple such as clearing cluttered counter tops. Or they might be more involved such as painting front doors or repairing obvious defects.
The staging company will look at your house from room to room and will offer advice on how to make each room show great. They will also look at the exterior street appeal, backyard and garage. They have a lot of tips that can make your house shine. After this meeting, you will have a list of what you should do to prepare your house for sale. Following these suggestions in a timely manner will ensure your home shows at its best.
Remember that “staging” addresses the appearance of the house and not necessarily other problems, which might become evident during an inspection. An inspection will uncover most defects that eventually may have to be repaired. In this way you can have the repairs done before a potential buyer’s inspection uncovers a defect that might cause a buyer to either change his mind or to want a substantial repair allowance deducted from the price. It is a signal to buyers that you are a responsible, reputable seller. It also allows you to have plenty of time to schedule any work that might need to be done.
Offer a residential service contract to buyers. This guarantees the major appliances in your home as well as other systems and structures. You can also include coverage for your house while it is on the market so you don’t have to pay for any unexpected repairs.
Marketing the Home
Now the fun begins. Here are some ideas that can be used to promote your home.
It is important for you to keep your house in perfect condition everyday because buyers or agents might come by at any time. Keep the kitchen clean, make your bed every morning and keep clutter out of sight. It is especially important to keep pets and pet odors under control. Some wonderful added touches are fresh flowers and potpourri or freshly baked cookies.
As agents and potential buyers begin visiting your home either virtually on the Internet or in person, try to obtain feedback from the buyers. Make changes to the showing state, condition, and price as feedback deems necessary.
The Offer and Negotiation
You have an offer, now what? Sometimes the buyer will offer you the asking price and have no special requests. In this case, you sign that you accept the offer. Sometimes, the buyer’s offer is a lower price and might have other requests. You should consider what is best for you and make a counter offer. Consider carefully your response because if you counter offer, there is no guarantee that the buyer will respond again. Also remember that, once agreed upon and signed by all parties, an offer becomes a legally binding contract. Never get involved in oral offers and negotiation. If you verbally accept an offer, a buyer has no legal obligation to buy the house and may want to continue to bargain with you to see how low a price you will accept.
No matter how well you have prepared your house and how fairly you have priced it, there is always the possibility of receiving a low offer. It could be a limit to the buyer’s ability to purchase. Don’t take it personally and react angrily. This is business, it’s not personal. You can either reject the offer or make a counter-offer. Try to find out as much as you can as to why the offer was low. Certainly if other offers come in very low or if your home is not being shown or not receiving any offers consider adjusting the pricing.
Once the buyer and seller agree on the terms, the buyer will have the home inspected. If there are any problems that are found during this time period then the buyer can withdraw from the contract. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, try not to let contract fall through. After the limited time period is up, the buyer is legally bound to buy your house unless they are denied financing. In the event of cancellation, the buyer would lose any earnest money. One exception to this is in the case of the buyer not receiving funding from the lenders. In that case then the buyer is not held responsible. For this reason, always ask the buyer’s agent for a letter showing that the potential buyer has been prequalified for a loan and, once a contract is signed, ask the buyer’s agent to keep you informed of the buyer’s loan application progress.
Closing
The exciting day is finally here! Verify in advance that all of the paperwork is in order. Request a copy of the HUD1 statement sheet so that you can read over it before closing. Feel free to ask any questions either before the closing or during the closing itself. Typically this is when you relinquish possession of the house so take the keys to give to the new owner.
JONAS
Decide to Sell
Deciding to sell your home is a big decision. The first step in this process should be to understand your motivations, expectations, financial considerations, goals and what you plan to do upon the sale of your home. Many people begin the sale process with unrealistic expectations or unclear goals. It then becomes difficult to meet their goals because these goals have never been clearly defined. You must begin to view your house, no longer as your home, but as an investment property that you want to market.
Setting the Price
Of course one of your most difficult questions is the listing price of your house. What price should you ask? This is an important part of the sales process. If you set the asking price too high, you may scare away buyers. Agents who feel that your house would not be a good investment may not even show the house. After the house sits on the market for a while, people begin to feel that there is something wrong with it because it hasn’t sold. Even if you could sell your house for an inflated price, many times a lender won’t approve a loan on a house that doesn’t appraise for that amount and the sale might fall through at the last minute. If you under price the home, you won’t realize the maximum potential of your investment.
Marketing Plan
Decide on incentives that to be offered to buyers, determine the best places to advertise, and determine how to show the home. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles.
Prepare the Home for Showing
There are two important ways that you can have an impact in making your house attractive to buyers: property condition and listing price. After deciding on a listing price, setup an appointment with a decorating company. They will give you some suggestions for making your house look its best. This process is called “staging.” The suggestions might be simple such as clearing cluttered counter tops. Or they might be more involved such as painting front doors or repairing obvious defects.
The staging company will look at your house from room to room and will offer advice on how to make each room show great. They will also look at the exterior street appeal, backyard and garage. They have a lot of tips that can make your house shine. After this meeting, you will have a list of what you should do to prepare your house for sale. Following these suggestions in a timely manner will ensure your home shows at its best.
Remember that “staging” addresses the appearance of the house and not necessarily other problems, which might become evident during an inspection. An inspection will uncover most defects that eventually may have to be repaired. In this way you can have the repairs done before a potential buyer’s inspection uncovers a defect that might cause a buyer to either change his mind or to want a substantial repair allowance deducted from the price. It is a signal to buyers that you are a responsible, reputable seller. It also allows you to have plenty of time to schedule any work that might need to be done.
Offer a residential service contract to buyers. This guarantees the major appliances in your home as well as other systems and structures. You can also include coverage for your house while it is on the market so you don’t have to pay for any unexpected repairs.
Marketing the Home
Now the fun begins. Here are some ideas that can be used to promote your home.
It is important for you to keep your house in perfect condition everyday because buyers or agents might come by at any time. Keep the kitchen clean, make your bed every morning and keep clutter out of sight. It is especially important to keep pets and pet odors under control. Some wonderful added touches are fresh flowers and potpourri or freshly baked cookies.
As agents and potential buyers begin visiting your home either virtually on the Internet or in person, try to obtain feedback from the buyers. Make changes to the showing state, condition, and price as feedback deems necessary.
The Offer and Negotiation
You have an offer, now what? Sometimes the buyer will offer you the asking price and have no special requests. In this case, you sign that you accept the offer. Sometimes, the buyer’s offer is a lower price and might have other requests. You should consider what is best for you and make a counter offer. Consider carefully your response because if you counter offer, there is no guarantee that the buyer will respond again. Also remember that, once agreed upon and signed by all parties, an offer becomes a legally binding contract. Never get involved in oral offers and negotiation. If you verbally accept an offer, a buyer has no legal obligation to buy the house and may want to continue to bargain with you to see how low a price you will accept.
No matter how well you have prepared your house and how fairly you have priced it, there is always the possibility of receiving a low offer. It could be a limit to the buyer’s ability to purchase. Don’t take it personally and react angrily. This is business, it’s not personal. You can either reject the offer or make a counter-offer. Try to find out as much as you can as to why the offer was low. Certainly if other offers come in very low or if your home is not being shown or not receiving any offers consider adjusting the pricing.
Once the buyer and seller agree on the terms, the buyer will have the home inspected. If there are any problems that are found during this time period then the buyer can withdraw from the contract. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, try not to let contract fall through. After the limited time period is up, the buyer is legally bound to buy your house unless they are denied financing. In the event of cancellation, the buyer would lose any earnest money. One exception to this is in the case of the buyer not receiving funding from the lenders. In that case then the buyer is not held responsible. For this reason, always ask the buyer’s agent for a letter showing that the potential buyer has been prequalified for a loan and, once a contract is signed, ask the buyer’s agent to keep you informed of the buyer’s loan application progress.
Closing
The exciting day is finally here! Verify in advance that all of the paperwork is in order. Request a copy of the HUD1 statement sheet so that you can read over it before closing. Feel free to ask any questions either before the closing or during the closing itself. Typically this is when you relinquish possession of the house so take the keys to give to the new owner.
JONAS
The Residential Real Estate Buying Process in Austin Texas
Joe Cline - Austin Real Estate Broker asked:
Decide to Buy
The first step in buying a house is to try and understand what you hope to achieve. When you begin to think about buying a new house, there are many questions you should ask yourself such as: Why do I want to move? How soon do I want to move? How long do I plan on living in the home? For some people renting or putting off buying makes sense. Expect to commit to your home for 3-5 years if you want to avoid losing money on the home.
Needs Analysis
Once you decided that home ownership is right for you will want to decide a few things: What are the most important features to you in a house? How much do you want to invest in your home? Initially? Every month? Do you have lifestyle changes coming, such as adding a baby, having kids move out, or retiring? What part of town do you want to live in? What school district do you want your kids to go to school in? Once your goals are clearly defined you have your target.
Get Pre-Qualified
An important part of the home buying process is to be qualified for a loan. You should get a “pre-qualification” letter before you start actively looking for a house. Most lenders can provide this over the phone or with a simple 1-page questionnaire. This typically takes 20 minutes. Some data you should have ready is your and your spouse’s name, address, phone numbers, social security numbers, and past two years of employment, residential, bank, asset and debt information. If possible, you should try to get pre-approved for a loan which is a more serious level of commitment from a lender than a pre-qualification. To receive a loan pre-approval, all employment and credit is verified. This will mean that you are approved for a loan, subject to a final credit check and an appraisal of the subject property.
Make sure to inquire about all loans costs (origination fees, discount points, etc) and find out about closing costs. Closing costs are the fees for services, taxes or special interest charges that surround the purchase of a home. They include up front loan points, title insurance, escrow or closing day charges, document fees, prepaid interest and property taxes. Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. Unless, these charges are rolled into the loan, they must be paid when the home is closed. Finally, make sure your lender provides a Good Faith Estimate according to the Truth in Lending Act (Regulation Z). This allows you to “compare apples to apples” between different lenders.
Home Search
After you’ve found a house that you like, fits your needs, and has potential, you’ll need to prepare an offer. Determine whether or not the house is priced fairly by doing a thorough Comparative Market Analysis. Then review the seller’s disclosure and make appropriate adjustments and write your initial offer. Offers should include an earnest money check (made out to a title company), and an option money check (made out to the seller).
Some of the words in the previous paragraph may not be familiar to you. Let’s look at them:
Option Money - a check made out to the seller in exchange for the unrestricted right to terminate the agreement for a specified number of days. This is not found in many states.
Earnest Money - a check made out to a Title Company as a show of “good faith” that you are seriously intending to buy the house. The amount is usually around 1% of the home’s value.
Escrow Account - a special account administered by the Title Company that holds your earnest money until closing.
Title Company - a company that verifies the validity of a title and offers insurance to protect against problems with any liens on a property or clouds on a title. This company also conducts the closing.
Closing - the actual process of transferring the title of a house from the seller to the buyer (including assigning any liens to lenders for mortgages).
Inspection and Repairs
To protect your best interests, have structural and systems inspections done by qualified inspectors of your choice. Your lender will typically also require a termite and wood destroying insect (WDI) inspection. The inspection is a great opportunity to ask questions about your prospective home and learn important information about where everything is and how it works.
When the inspection reports come in, you will need to decide if the home is acceptable “as is”. If you require repairs to be made, then you will have to negotiate with the seller. At that point, you make a counter offer to the seller requesting either that the repairs be done before closing or extra money to be given to you at closing to cover repairs. The seller can either negotiate these points with us or decide to not continue to negotiate. If the seller rejects the offer and you do not want to buy the home as is, the contract falls through, the seller would be free to accept another offer, and your earnest money would be returned to you. If you come to terms an amendment to the contract will be made and we will waive our option to terminate. Then you will contact your lender to request an appraisal and start planning your move. A day before closing or on the same day, it is recommended that you walk through the house to make sure that everything is in order. This protects you from closing on a home that has been damaged in the move out process or that has been taken possession of by another party.
Closing
The exciting day is finally here! You will review the settlement statement (HUD-1) so that you can clear up any questions before closing. Possession of the home generally happens the same day that papers are signed, but sometimes a snag in the funding of the loan will cause a delay in possesion. For this reason it’s best to allow an extra day (or more if we are closing on a Friday or day before a holiday) before you need to be able to move in.
After closing you should file a change of address. File an official change of address form at you local post office or online in the advance so that your mail delivery will not be interrupted. Many corporations, such as credit card companies and magazine subscriptions, take 1 or 2 months to process a change of address.
Congrats! You are now a proud homeowner!
MATTHEW
Decide to Buy
The first step in buying a house is to try and understand what you hope to achieve. When you begin to think about buying a new house, there are many questions you should ask yourself such as: Why do I want to move? How soon do I want to move? How long do I plan on living in the home? For some people renting or putting off buying makes sense. Expect to commit to your home for 3-5 years if you want to avoid losing money on the home.
Needs Analysis
Once you decided that home ownership is right for you will want to decide a few things: What are the most important features to you in a house? How much do you want to invest in your home? Initially? Every month? Do you have lifestyle changes coming, such as adding a baby, having kids move out, or retiring? What part of town do you want to live in? What school district do you want your kids to go to school in? Once your goals are clearly defined you have your target.
Get Pre-Qualified
An important part of the home buying process is to be qualified for a loan. You should get a “pre-qualification” letter before you start actively looking for a house. Most lenders can provide this over the phone or with a simple 1-page questionnaire. This typically takes 20 minutes. Some data you should have ready is your and your spouse’s name, address, phone numbers, social security numbers, and past two years of employment, residential, bank, asset and debt information. If possible, you should try to get pre-approved for a loan which is a more serious level of commitment from a lender than a pre-qualification. To receive a loan pre-approval, all employment and credit is verified. This will mean that you are approved for a loan, subject to a final credit check and an appraisal of the subject property.
Make sure to inquire about all loans costs (origination fees, discount points, etc) and find out about closing costs. Closing costs are the fees for services, taxes or special interest charges that surround the purchase of a home. They include up front loan points, title insurance, escrow or closing day charges, document fees, prepaid interest and property taxes. Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. Unless, these charges are rolled into the loan, they must be paid when the home is closed. Finally, make sure your lender provides a Good Faith Estimate according to the Truth in Lending Act (Regulation Z). This allows you to “compare apples to apples” between different lenders.
Home Search
After you’ve found a house that you like, fits your needs, and has potential, you’ll need to prepare an offer. Determine whether or not the house is priced fairly by doing a thorough Comparative Market Analysis. Then review the seller’s disclosure and make appropriate adjustments and write your initial offer. Offers should include an earnest money check (made out to a title company), and an option money check (made out to the seller).
Some of the words in the previous paragraph may not be familiar to you. Let’s look at them:
Option Money - a check made out to the seller in exchange for the unrestricted right to terminate the agreement for a specified number of days. This is not found in many states.
Earnest Money - a check made out to a Title Company as a show of “good faith” that you are seriously intending to buy the house. The amount is usually around 1% of the home’s value.
Escrow Account - a special account administered by the Title Company that holds your earnest money until closing.
Title Company - a company that verifies the validity of a title and offers insurance to protect against problems with any liens on a property or clouds on a title. This company also conducts the closing.
Closing - the actual process of transferring the title of a house from the seller to the buyer (including assigning any liens to lenders for mortgages).
Inspection and Repairs
To protect your best interests, have structural and systems inspections done by qualified inspectors of your choice. Your lender will typically also require a termite and wood destroying insect (WDI) inspection. The inspection is a great opportunity to ask questions about your prospective home and learn important information about where everything is and how it works.
When the inspection reports come in, you will need to decide if the home is acceptable “as is”. If you require repairs to be made, then you will have to negotiate with the seller. At that point, you make a counter offer to the seller requesting either that the repairs be done before closing or extra money to be given to you at closing to cover repairs. The seller can either negotiate these points with us or decide to not continue to negotiate. If the seller rejects the offer and you do not want to buy the home as is, the contract falls through, the seller would be free to accept another offer, and your earnest money would be returned to you. If you come to terms an amendment to the contract will be made and we will waive our option to terminate. Then you will contact your lender to request an appraisal and start planning your move. A day before closing or on the same day, it is recommended that you walk through the house to make sure that everything is in order. This protects you from closing on a home that has been damaged in the move out process or that has been taken possession of by another party.
Closing
The exciting day is finally here! You will review the settlement statement (HUD-1) so that you can clear up any questions before closing. Possession of the home generally happens the same day that papers are signed, but sometimes a snag in the funding of the loan will cause a delay in possesion. For this reason it’s best to allow an extra day (or more if we are closing on a Friday or day before a holiday) before you need to be able to move in.
After closing you should file a change of address. File an official change of address form at you local post office or online in the advance so that your mail delivery will not be interrupted. Many corporations, such as credit card companies and magazine subscriptions, take 1 or 2 months to process a change of address.
Congrats! You are now a proud homeowner!
MATTHEW
Newspaper Real Estate Listings vs Online Real Estate Listings
John Ash asked:
The most common ways of looking for real estate listings are through the Internet and through your local newspapers. No matter what you are looking for, whether it is a home for you and your family to live in or real estate to invest money in, real estate listings will be the prime way for you to find the real estate that is best for you. To find real estate listings, you can use both the Internet and newspapers. It is up to you which one you choose.
Newspaper real estate listings
Looking at real estate listings in the newspaper is one of the most traditional ways to find real estate to purchase. Today, it still stands as one of the most used ways to look over real estate listings. Unfortunately, looking through real estate listings in newspapers can become very time consuming. You will find yourself flipping through pages. After reading through them all, you have to go back and find the ones that fit your needs the most.
Once you find the real estate listings that fit what you are looking for, you have to take the time to write down the contact information and then call them and make an appointment to view the property. Sometimes the real estate listings do not include pictures, which can be a total setback. Newspaper real estate listings are updated every week or so. This means that real estate you are interested in may not be available once you get around to it. If someone were to purchase the real estate before you, you have no way of knowing it before you waste your time.
Internet real estate listings
Since the Internet has grown more and more popular, finding real estate listings online has become one of the easiest and quickest ways to find real estate. The best thing about internet real estate listings is that they are updated two or three times a week. This makes it easier for those who are looking for real estate to buy because they do not have to worry about the real estate being unavailable or already sold.
Also with internet real estate listings, you will be able to few high-resolution photographs of the real estate you are interested in, instead of relying on a small black and white photo out of the newspaper. This allows you to truly see what the real estate looks like. Finding the perfect real estate for you is easy online. You do not have to go through lists and lists of listings to find one that is suitable for you because with a simply click of your mouse, you could find the real estate you are looking for.
Online, you can pick certain criteria such as how large the real estate is, where it is located, etc. This cuts down on the amount of time spent looking for real estate that fits your criteria. With online real estate listings, you do not have to worry about finding contact information. Most times, the website will provide you with a service to contact a realtor, or you can easily print out the real estate ad.
MIKE
The most common ways of looking for real estate listings are through the Internet and through your local newspapers. No matter what you are looking for, whether it is a home for you and your family to live in or real estate to invest money in, real estate listings will be the prime way for you to find the real estate that is best for you. To find real estate listings, you can use both the Internet and newspapers. It is up to you which one you choose.
Newspaper real estate listings
Looking at real estate listings in the newspaper is one of the most traditional ways to find real estate to purchase. Today, it still stands as one of the most used ways to look over real estate listings. Unfortunately, looking through real estate listings in newspapers can become very time consuming. You will find yourself flipping through pages. After reading through them all, you have to go back and find the ones that fit your needs the most.
Once you find the real estate listings that fit what you are looking for, you have to take the time to write down the contact information and then call them and make an appointment to view the property. Sometimes the real estate listings do not include pictures, which can be a total setback. Newspaper real estate listings are updated every week or so. This means that real estate you are interested in may not be available once you get around to it. If someone were to purchase the real estate before you, you have no way of knowing it before you waste your time.
Internet real estate listings
Since the Internet has grown more and more popular, finding real estate listings online has become one of the easiest and quickest ways to find real estate. The best thing about internet real estate listings is that they are updated two or three times a week. This makes it easier for those who are looking for real estate to buy because they do not have to worry about the real estate being unavailable or already sold.
Also with internet real estate listings, you will be able to few high-resolution photographs of the real estate you are interested in, instead of relying on a small black and white photo out of the newspaper. This allows you to truly see what the real estate looks like. Finding the perfect real estate for you is easy online. You do not have to go through lists and lists of listings to find one that is suitable for you because with a simply click of your mouse, you could find the real estate you are looking for.
Online, you can pick certain criteria such as how large the real estate is, where it is located, etc. This cuts down on the amount of time spent looking for real estate that fits your criteria. With online real estate listings, you do not have to worry about finding contact information. Most times, the website will provide you with a service to contact a realtor, or you can easily print out the real estate ad.
MIKE
Real Estate Information Sources
Brad Wozny asked:
Knowledge is basically the most important key to success in any industry and specially in real estate investing. Even if you know some of the basic techniques in real estate, then you can successfully buy the best property or home without any down payment. However, increasing knowledge among people has no longer kept real estate investing a specialty of wealthy businessmen only. Today, real estate investing has become a very common financial motion for almost every individual. This change is basically because of the concentration and elimination of company pension plans. Personal investing guides have also replaced these plans as they have become the preferred plans to retirement.
Real Estate Investing Books: Real estate investing books would literally increase your potential knowledge and information in the real estate investing field. Generally speaking, the people who write these books are the ones with experience in real estate industry, and thus they write from personal experiences. There are also real estate investing guide books that are published in electronic format, which are known as Real estate E-books. Real estate investing books would offer you almost all the possible information that is used by professional real estate investors. If you have only recently entered the real estate market then it is important that you posses the required important information which can be found in these real estate investing books.
Real Estate Online Information Sources: Real estate investing includes various categories and sub-categories and there is plenty to learn in the real estate investing market. Although you might find real estate investing books a good source, finding information over the internet is a better idea. There are tons of websites on the internet, where you can find the desired information. You can even find real estate companies online who would keep you alert with the latest happenings in the real estate industry. If you are planning to buy a property or need to invest in real estate, then an online source would then be your best option. Most of the online real estate companies have a great source of real estate listings that you can refer to. Apart from this, you can also invest in one of the listed properties if the prices and the location match your requirements. These online companies would offer you various real estate investing tips and guidelines on how you could make great profits through the various properties that you have.
Other Sources of Real Estate Information: Apart from these information sources, you can also opt for a real estate investing course. You probably could get the most out from a real estate investing course, but you just have to choose the right one. If you are really interested in discovering all the inside secrets of real estate investing, then a real estate investing course can teach you just that. The best part is that that are a number of real estate workshops, classes and courses that educate and offer the required information about the real estate investing market. You just have to choose the right course that would fulfill your need and make you a better real estate investor or help you make a great decision.
IRA
Knowledge is basically the most important key to success in any industry and specially in real estate investing. Even if you know some of the basic techniques in real estate, then you can successfully buy the best property or home without any down payment. However, increasing knowledge among people has no longer kept real estate investing a specialty of wealthy businessmen only. Today, real estate investing has become a very common financial motion for almost every individual. This change is basically because of the concentration and elimination of company pension plans. Personal investing guides have also replaced these plans as they have become the preferred plans to retirement.
Real Estate Investing Books: Real estate investing books would literally increase your potential knowledge and information in the real estate investing field. Generally speaking, the people who write these books are the ones with experience in real estate industry, and thus they write from personal experiences. There are also real estate investing guide books that are published in electronic format, which are known as Real estate E-books. Real estate investing books would offer you almost all the possible information that is used by professional real estate investors. If you have only recently entered the real estate market then it is important that you posses the required important information which can be found in these real estate investing books.
Real Estate Online Information Sources: Real estate investing includes various categories and sub-categories and there is plenty to learn in the real estate investing market. Although you might find real estate investing books a good source, finding information over the internet is a better idea. There are tons of websites on the internet, where you can find the desired information. You can even find real estate companies online who would keep you alert with the latest happenings in the real estate industry. If you are planning to buy a property or need to invest in real estate, then an online source would then be your best option. Most of the online real estate companies have a great source of real estate listings that you can refer to. Apart from this, you can also invest in one of the listed properties if the prices and the location match your requirements. These online companies would offer you various real estate investing tips and guidelines on how you could make great profits through the various properties that you have.
Other Sources of Real Estate Information: Apart from these information sources, you can also opt for a real estate investing course. You probably could get the most out from a real estate investing course, but you just have to choose the right one. If you are really interested in discovering all the inside secrets of real estate investing, then a real estate investing course can teach you just that. The best part is that that are a number of real estate workshops, classes and courses that educate and offer the required information about the real estate investing market. You just have to choose the right course that would fulfill your need and make you a better real estate investor or help you make a great decision.
IRA
What is Real Estate Investment Trust
Robert Shumake asked:
Investing in income property can be a great way to increase your capital. But for many people, investing in real estate, especially commercial and industrial real estate is just out of reach from the financial point of view. But what if you could join forces with other small investors and large investments in commercial real estate in the group? With Real Estate Investment Trust, you can do it!
REIT means Real Estate Investment Trust, and is sometimes referred to as "real estate holdings." Real estate investment trust is a companie that owns and manages a portfolio of real estate and mortgages. Anyone can buy shares of the REIT. Real estate investment trust offers the benefits of real estate without the headaches or expense of the landlord. Said another way the investor has the benefits of real estate ownership with no management role in the toilets and tenants.
Real Estate Investment Trust of certain types offers great benefits of liquidity and diversity. In contrast to the actual ownership of real estate, these measures can be quickly and easily sold. And because you invest in a portfolio of real estate, rather than one building, it comes with less financial risk.
Real Estate Investment Trust was created in the sixties when Congress decided that small investors should also be able to invest in large-scale, income-generating properties. It was found to be the best way to make it a model of investment in other sectors - the purchase of shares.
The company must distribute at least ninety percent of their taxable income to shareholders each year as a Real Estate Investment Trust. Most Real Estate Investment Trust pays out one hundred percent of their taxable income in dividend distributions. To maintain its status as a pass-through entity, Real Estate Investment Trust dividends are paid to shareholders annually.
From 1880 to the 1930’s, a similar provision in place, which allows investors to avoid double taxation - paying taxes as private and business - were convinced, because they do not pay income tax if the income is distributed to beneficiaries. It was abolished in the nineteen thirties, when the passive investments are taxed at the corporate level, as well as part of the profit tax. Real estate investment trust supporters were not able to change the law to overturn the decision within thirty years. Due to high demand for real estate funds, President Eisenhower signed the nineteen sixty Real Estate Investment Trust as a REIT tax pass-through entities.
The company must comply with all other requirements to qualify as a real estate investment trust and to win passage of a person. They should:
1. Be structured as corporation, business trust, or similar association
2. Be managed by a board of directors or trustees
3. Offer fully transferable stock shares
4. Have at least one hundred shareholders
5. Pay dividends of at least ninety percent of the REIT’s taxable income
6. Have no more than fifty percent of its shares held by five or fewer individuals during the last half of each taxable year
7. Hold at least seventy five percent of total investment assets in real estate
8. Have no more than twenty percent of its assets consist of stocks in taxable real estate investment trust subsidiaries
9. Derive at least seventy five percent of gross income from rents or mortgage interest
At least ninety five percent of a real estate investment trust gross income must come from financial investments (in other words, it must pass the ninety five-percent income test). These include rents, dividends, interest and capital gains. In addition, at least seventy five percent of its income must come from certain real estate sources (the seventy five percent income test), including rents from real property, gains from the sale or other disposition of real property, and income and gain derived from foreclosure of property.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
QUINTON
Investing in income property can be a great way to increase your capital. But for many people, investing in real estate, especially commercial and industrial real estate is just out of reach from the financial point of view. But what if you could join forces with other small investors and large investments in commercial real estate in the group? With Real Estate Investment Trust, you can do it!
REIT means Real Estate Investment Trust, and is sometimes referred to as "real estate holdings." Real estate investment trust is a companie that owns and manages a portfolio of real estate and mortgages. Anyone can buy shares of the REIT. Real estate investment trust offers the benefits of real estate without the headaches or expense of the landlord. Said another way the investor has the benefits of real estate ownership with no management role in the toilets and tenants.
Real Estate Investment Trust of certain types offers great benefits of liquidity and diversity. In contrast to the actual ownership of real estate, these measures can be quickly and easily sold. And because you invest in a portfolio of real estate, rather than one building, it comes with less financial risk.
Real Estate Investment Trust was created in the sixties when Congress decided that small investors should also be able to invest in large-scale, income-generating properties. It was found to be the best way to make it a model of investment in other sectors - the purchase of shares.
The company must distribute at least ninety percent of their taxable income to shareholders each year as a Real Estate Investment Trust. Most Real Estate Investment Trust pays out one hundred percent of their taxable income in dividend distributions. To maintain its status as a pass-through entity, Real Estate Investment Trust dividends are paid to shareholders annually.
From 1880 to the 1930’s, a similar provision in place, which allows investors to avoid double taxation - paying taxes as private and business - were convinced, because they do not pay income tax if the income is distributed to beneficiaries. It was abolished in the nineteen thirties, when the passive investments are taxed at the corporate level, as well as part of the profit tax. Real estate investment trust supporters were not able to change the law to overturn the decision within thirty years. Due to high demand for real estate funds, President Eisenhower signed the nineteen sixty Real Estate Investment Trust as a REIT tax pass-through entities.
The company must comply with all other requirements to qualify as a real estate investment trust and to win passage of a person. They should:
1. Be structured as corporation, business trust, or similar association
2. Be managed by a board of directors or trustees
3. Offer fully transferable stock shares
4. Have at least one hundred shareholders
5. Pay dividends of at least ninety percent of the REIT’s taxable income
6. Have no more than fifty percent of its shares held by five or fewer individuals during the last half of each taxable year
7. Hold at least seventy five percent of total investment assets in real estate
8. Have no more than twenty percent of its assets consist of stocks in taxable real estate investment trust subsidiaries
9. Derive at least seventy five percent of gross income from rents or mortgage interest
At least ninety five percent of a real estate investment trust gross income must come from financial investments (in other words, it must pass the ninety five-percent income test). These include rents, dividends, interest and capital gains. In addition, at least seventy five percent of its income must come from certain real estate sources (the seventy five percent income test), including rents from real property, gains from the sale or other disposition of real property, and income and gain derived from foreclosure of property.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
QUINTON
Golden Hill, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006
Real Estate Advisor asked:
The Golden Hill region is located near Downtown San Diego County, California. The community is located between Interstates 5 and 15, just south of the famous Balboa Park.
For the period observed (January through July 2006 compared against January through July 2005), the number of homes sold remained relatively consistent. Approximately 74 single-family homes sold in 2006 and 76 homes sold in 2005.
One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.
The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.
The median price of homes in July 2006 was $572,000, compared to $425,000 in July 2005, which represents a 34.6% increase. The average price of homes in July 2006 was $551,875, compared to $466,636 in July 2005, which represents a 19.5% increase. Approximately 8 homes sold in July 2006 and 11 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $451,500, compared to $540,000 in June 2005, which represents a 16.4% drop. The average price of homes in June 2006 was $457,600, compared to $514,846 in June 2005, which represents an 11.1% decline. Approximately 10 homes sold in June 2006 and 13 in June 2005. In summary, there was a downward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $500,000, compared to $430,000 in May 2005, which represents a 13.9% increase. The average price of homes in May 2006 was $545,067, compared to $465,727 in May 2005, which represents a 10.5% increase. Approximately 15 homes sold in May 2006 and 11 in May 2005. In summary, there was an upward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $442,500, compared to $510,000 in April 2005, which represents an 8.3% drop. The average price of homes in April 2006 was $448,071, compared to $512,067 in April 2005, which represents a 10.9% decline. Approximately 14 homes sold in April 2006 and 15 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $415,250, compared to $437,500 in March 2005, which represents an 8.2% decrease. The average price of homes in March 2006 was $451,886, compared to $428,375 in March 2005, which represents a 5.5% increase. Approximately 14 homes sold in March 2006 and 12 in March 2005. The data was mixed for March 2006, as the median price dropped and the average price increased from the same time last year.
The median price of homes in February 2006 was $452,500, compared to $512,500 in February 2005, which represents a 6.7% drop. The average price of homes in February 2006 was $483,128, compared to $503,625 in February 2005, which represents a 1.7% decline. About 8 homes sold in February 2006 and 8 in February 2005. In summary, there was a downward price trend in February 2006 compared to the same period last year.
The median price of homes was $455,000 in January 2006, compared to $500,000 in January 2005, which represents a 9% decline. The average price of homes in January 2006 was $446,280, compared to $467,483 in January 2005, which represents a 1.3% drop. Approximately 5 homes sold in January 2006 and 6 in January 2005. In summary, there was a downward price trend in January 2006 compared to the same period last year.
So what does the data tell us? Well, the data above does not reveal a consistent pattern. The home prices for May and July 2006 were up year-over-year in the range of 10% to 35% from the same period last year. However, prices were down 1% to 16% during January, February, April and June 2006, compared to the same time last year. The data for March 2006 was mixed, with the median price dropping 8.2%, and the average price increasing 5.5% for the same time last year. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges. Contact an experienced Realtor to obtain additional insights about the pricing trends in the Golden Hill real estate market.
KIM
The Golden Hill region is located near Downtown San Diego County, California. The community is located between Interstates 5 and 15, just south of the famous Balboa Park.
For the period observed (January through July 2006 compared against January through July 2005), the number of homes sold remained relatively consistent. Approximately 74 single-family homes sold in 2006 and 76 homes sold in 2005.
One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.
The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.
The median price of homes in July 2006 was $572,000, compared to $425,000 in July 2005, which represents a 34.6% increase. The average price of homes in July 2006 was $551,875, compared to $466,636 in July 2005, which represents a 19.5% increase. Approximately 8 homes sold in July 2006 and 11 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $451,500, compared to $540,000 in June 2005, which represents a 16.4% drop. The average price of homes in June 2006 was $457,600, compared to $514,846 in June 2005, which represents an 11.1% decline. Approximately 10 homes sold in June 2006 and 13 in June 2005. In summary, there was a downward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $500,000, compared to $430,000 in May 2005, which represents a 13.9% increase. The average price of homes in May 2006 was $545,067, compared to $465,727 in May 2005, which represents a 10.5% increase. Approximately 15 homes sold in May 2006 and 11 in May 2005. In summary, there was an upward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $442,500, compared to $510,000 in April 2005, which represents an 8.3% drop. The average price of homes in April 2006 was $448,071, compared to $512,067 in April 2005, which represents a 10.9% decline. Approximately 14 homes sold in April 2006 and 15 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $415,250, compared to $437,500 in March 2005, which represents an 8.2% decrease. The average price of homes in March 2006 was $451,886, compared to $428,375 in March 2005, which represents a 5.5% increase. Approximately 14 homes sold in March 2006 and 12 in March 2005. The data was mixed for March 2006, as the median price dropped and the average price increased from the same time last year.
The median price of homes in February 2006 was $452,500, compared to $512,500 in February 2005, which represents a 6.7% drop. The average price of homes in February 2006 was $483,128, compared to $503,625 in February 2005, which represents a 1.7% decline. About 8 homes sold in February 2006 and 8 in February 2005. In summary, there was a downward price trend in February 2006 compared to the same period last year.
The median price of homes was $455,000 in January 2006, compared to $500,000 in January 2005, which represents a 9% decline. The average price of homes in January 2006 was $446,280, compared to $467,483 in January 2005, which represents a 1.3% drop. Approximately 5 homes sold in January 2006 and 6 in January 2005. In summary, there was a downward price trend in January 2006 compared to the same period last year.
So what does the data tell us? Well, the data above does not reveal a consistent pattern. The home prices for May and July 2006 were up year-over-year in the range of 10% to 35% from the same period last year. However, prices were down 1% to 16% during January, February, April and June 2006, compared to the same time last year. The data for March 2006 was mixed, with the median price dropping 8.2%, and the average price increasing 5.5% for the same time last year. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges. Contact an experienced Realtor to obtain additional insights about the pricing trends in the Golden Hill real estate market.
KIM
Top 20 Real Estate Foreclosure Markets, Mid-Year 2007
Real Estate Advisor asked:
Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.
Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.
Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.
Las Vegas documented one foreclosure filing for every 31 households, making it the third highest in foreclosure activity among the 100 metro areas. It reported 22,928 foreclosure filings on 13,028 properties, double the number reported during the first half of 2006.
Six of the top 20 metro areas with the highest foreclosure rates were in California and four in Ohio.
The following are the top 20 U.S. housing foreclosure markets from Jan to Jun 2007, the total number of foreclosure filings and households per foreclosure filing.
1. Stockton, California: 8,169 foreclosure filings; one foreclosure filing for every 27 households.
2. Detroit/Livonia/Dearborn, Michigan: 28,705 foreclosure filings; one filing per 29 households.
3. Las Vegas/Paradise, Nevada: 22,928 foreclosure filings; one filing per 31 households.
4. Riverside/San Bernardino, California: 41,351 foreclosure filings; one filing per 33 households.
5. Sacramento, California: 20,516 foreclosure filings; one filing per 36 households.
6. Denver/Aurora, Colorado: 23,842 foreclosure filings; one filing per 42 households.
7. Miami, Florida: 20,275 foreclosure filings; one filing per 46 households.
8. Bakersfield, California: 5,365 foreclosure filings; one filing per 47 households.
9. Memphis, Tennessee: 10,800 foreclosure filings; one filing per 49 households.
10. Cleveland/Lorain/Elyria/Mentor, Ohio: 8,844 foreclosure filings; one filing per 50 households.
11. Fort Lauderdale, Florida: 15,720 foreclosure filings; one filing per 50 households.
12. Atlanta/Sandy Springs/Marietta, Georgia: 36,502 foreclosure filings; one filing per 54 households.
13. Fort Worth/Arlington, Texas: 13,221 foreclosure filings; one filing per 57 households.
14. Fresno, California: 4,867 foreclosure filings; one filing per 60 households.
15. Indianapolis, Indiana: 11,677 foreclosure filings; one filing per 62 households.
16. Dayton, Ohio: 5,966 foreclosure filings; one filing per 63 households.
17. Dallas, Texas: 23,284 foreclosure filings; one filing per 65 households.
18. Akron, Ohio: 4,378 foreclosure filings; one filing per 70 households.
19. Oakland, California: 13,482 foreclosure filings; one filing per 70 households.
20. Columbus, Ohio: 10,706 foreclosure filings; one filing per 70 households.
ARMANDO
Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.
Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.
Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.
Las Vegas documented one foreclosure filing for every 31 households, making it the third highest in foreclosure activity among the 100 metro areas. It reported 22,928 foreclosure filings on 13,028 properties, double the number reported during the first half of 2006.
Six of the top 20 metro areas with the highest foreclosure rates were in California and four in Ohio.
The following are the top 20 U.S. housing foreclosure markets from Jan to Jun 2007, the total number of foreclosure filings and households per foreclosure filing.
1. Stockton, California: 8,169 foreclosure filings; one foreclosure filing for every 27 households.
2. Detroit/Livonia/Dearborn, Michigan: 28,705 foreclosure filings; one filing per 29 households.
3. Las Vegas/Paradise, Nevada: 22,928 foreclosure filings; one filing per 31 households.
4. Riverside/San Bernardino, California: 41,351 foreclosure filings; one filing per 33 households.
5. Sacramento, California: 20,516 foreclosure filings; one filing per 36 households.
6. Denver/Aurora, Colorado: 23,842 foreclosure filings; one filing per 42 households.
7. Miami, Florida: 20,275 foreclosure filings; one filing per 46 households.
8. Bakersfield, California: 5,365 foreclosure filings; one filing per 47 households.
9. Memphis, Tennessee: 10,800 foreclosure filings; one filing per 49 households.
10. Cleveland/Lorain/Elyria/Mentor, Ohio: 8,844 foreclosure filings; one filing per 50 households.
11. Fort Lauderdale, Florida: 15,720 foreclosure filings; one filing per 50 households.
12. Atlanta/Sandy Springs/Marietta, Georgia: 36,502 foreclosure filings; one filing per 54 households.
13. Fort Worth/Arlington, Texas: 13,221 foreclosure filings; one filing per 57 households.
14. Fresno, California: 4,867 foreclosure filings; one filing per 60 households.
15. Indianapolis, Indiana: 11,677 foreclosure filings; one filing per 62 households.
16. Dayton, Ohio: 5,966 foreclosure filings; one filing per 63 households.
17. Dallas, Texas: 23,284 foreclosure filings; one filing per 65 households.
18. Akron, Ohio: 4,378 foreclosure filings; one filing per 70 households.
19. Oakland, California: 13,482 foreclosure filings; one filing per 70 households.
20. Columbus, Ohio: 10,706 foreclosure filings; one filing per 70 households.
ARMANDO
Understanding Real Estate Taxes
Richard asked:
Many homeowners do not understand much about real estate taxes and for this reason can end up in the position of losing their homes. Real estate taxes or property tax is normally calculated on the land value, the location, the county laws, and other factors. Real estate taxes are utilized for the upkeep of roads and other public services like emergency services and other municipal services enjoyed by the local residents. Real estate taxes are also in one way limited to the United States alone but for almost every country worldwide as well. Other names used for real estate taxes are rates and land levies and every homeowner will have to pay them.
How Much in Real estate taxes must I pay?
Real estate taxes are assed according to the sale value of your land or home. Rates are likely to be reassessed each year and normal inflationary increases and land values mean that your real estate taxes will increase with them. There are strict laws in place to ensure that these real estate taxes are paid and if you fall behind you are likely to even lose your home. The bill of rights requires that your property tax bill shows your assessment value of the property and the percentage of the how the figure has been arrived at. Real estate taxes can change according to the local municipal needs and area upgrades that need financing so your real estate taxes can change at any time in relation to municipal budgets.
Do I benefit from Real estate taxes?
Everyone benefits from real estate taxes because this money is used to the good all of all residents. In addition to this there are certain IRS benefits for real homeowners as well. Homeowner, are entitled to deduct payments of real estate taxes that they are paying on their property if you claimed for itemized deductions on your tax return. The IRS allows you to deduct real estate taxes on your main home as well as on any other homes and real estate you own. There are no also limits on the dollar amount of real estate taxes you can deduct either so this is certainly beneficial. For real estate investors with multiple properties and homes, there are also no limits on the number of these houses or properties for which deductions can be claimed for in real estate taxes.
How is Real estate Taxes paid?
When you pay monthly mortgage payment to a bank or financial institution holding your mortgage then the amount generally includes the real estate taxes that have to be paid on your property. The bank or mortgage holder pays these real estate taxes to the proper taxing county authority on their due dates. When your real estate taxes are included in your mortgage payments then you may claim an IRS deduction only in the tax year you actually pay your real estate taxes. You will find the real estate taxes paid for the year on the statement than the bank or mortgage lender gives you on the end of the year mortgage statements.
Buying Cheap real estate land and Homes with Tax Liens
Knowing the Ps and Qs or real estate taxes and tax lien foreclosures can make investing in real estate very lucrative. As mentioned above real estate taxes are tax deductible from the IRS no matter how many homes you own. If you have the right knowledge it is possible to purchase homes at a fraction of their prices for back real estate taxes but realtors and property investors in the know will rather prefer to keep this knowledge secret. It is possible to purchase luxury dream homes of your own or buy and sell property to make handsome returns if you know where to get your hands on this valuable information. You will find that the investment in information of this nature can also help you save money on your own property as well
Learn More About Real Estate and Tax Lien Properties
FEDERICO
Many homeowners do not understand much about real estate taxes and for this reason can end up in the position of losing their homes. Real estate taxes or property tax is normally calculated on the land value, the location, the county laws, and other factors. Real estate taxes are utilized for the upkeep of roads and other public services like emergency services and other municipal services enjoyed by the local residents. Real estate taxes are also in one way limited to the United States alone but for almost every country worldwide as well. Other names used for real estate taxes are rates and land levies and every homeowner will have to pay them.
How Much in Real estate taxes must I pay?
Real estate taxes are assed according to the sale value of your land or home. Rates are likely to be reassessed each year and normal inflationary increases and land values mean that your real estate taxes will increase with them. There are strict laws in place to ensure that these real estate taxes are paid and if you fall behind you are likely to even lose your home. The bill of rights requires that your property tax bill shows your assessment value of the property and the percentage of the how the figure has been arrived at. Real estate taxes can change according to the local municipal needs and area upgrades that need financing so your real estate taxes can change at any time in relation to municipal budgets.
Do I benefit from Real estate taxes?
Everyone benefits from real estate taxes because this money is used to the good all of all residents. In addition to this there are certain IRS benefits for real homeowners as well. Homeowner, are entitled to deduct payments of real estate taxes that they are paying on their property if you claimed for itemized deductions on your tax return. The IRS allows you to deduct real estate taxes on your main home as well as on any other homes and real estate you own. There are no also limits on the dollar amount of real estate taxes you can deduct either so this is certainly beneficial. For real estate investors with multiple properties and homes, there are also no limits on the number of these houses or properties for which deductions can be claimed for in real estate taxes.
How is Real estate Taxes paid?
When you pay monthly mortgage payment to a bank or financial institution holding your mortgage then the amount generally includes the real estate taxes that have to be paid on your property. The bank or mortgage holder pays these real estate taxes to the proper taxing county authority on their due dates. When your real estate taxes are included in your mortgage payments then you may claim an IRS deduction only in the tax year you actually pay your real estate taxes. You will find the real estate taxes paid for the year on the statement than the bank or mortgage lender gives you on the end of the year mortgage statements.
Buying Cheap real estate land and Homes with Tax Liens
Knowing the Ps and Qs or real estate taxes and tax lien foreclosures can make investing in real estate very lucrative. As mentioned above real estate taxes are tax deductible from the IRS no matter how many homes you own. If you have the right knowledge it is possible to purchase homes at a fraction of their prices for back real estate taxes but realtors and property investors in the know will rather prefer to keep this knowledge secret. It is possible to purchase luxury dream homes of your own or buy and sell property to make handsome returns if you know where to get your hands on this valuable information. You will find that the investment in information of this nature can also help you save money on your own property as well
Learn More About Real Estate and Tax Lien Properties
FEDERICO
TOP FIVE REASONS TO OWN A PROPERTY REAL ESTATE BUSINESS IN NIGERIA
I.N.J REAL ESTATE COMPANY asked:
“TOP FIVE REASONS TO OWN A PROPERTY IN NIGERIA”
The Nigerian Real Estate Market is yet to be fully tapped and for the few investors already in it they are well to do. This is because the sector is yet to be fully tapped into. Population Explosion- Nigeria has a population of over 140million people as at the last census exercise in 2006. This simply equals to a large demand for shelter across the nation, and most especially in the commercial areas of the country. E.g. Lagos, Abuja, Port Harcourt, Aba and Onitsha. The Federal and State Governments of Nigeria have got a little impact and contribution in providing homes and shelters for their citizens. This has created a large vacuum in the Real Estate sector, so big a Vacuum that the ever increasing population has surpassed the number of government housing projects. The ratio thus is alarming- 1 in every 100k people live in government owned houses. Demand over Supply- going by the number of people currently based in Nigeria and the number of new businesses on the increase in the country it is imperative to say that the demand for both Residential and Commercial Accommodation has shot up 100% and counting. The Fifth Reason why you should own a property in Nigeria- is for you to be play a role in filling the large gap in the sector. There is no asking if it’s a sure and viable area to invest, this sector is yearning for both small and large scale investment. And returns on investment is guaranteed 100%. check our website for property listings WWW.FSBO-HOME.BIZ/1933
JAIME
“TOP FIVE REASONS TO OWN A PROPERTY IN NIGERIA”
The Nigerian Real Estate Market is yet to be fully tapped and for the few investors already in it they are well to do. This is because the sector is yet to be fully tapped into. Population Explosion- Nigeria has a population of over 140million people as at the last census exercise in 2006. This simply equals to a large demand for shelter across the nation, and most especially in the commercial areas of the country. E.g. Lagos, Abuja, Port Harcourt, Aba and Onitsha. The Federal and State Governments of Nigeria have got a little impact and contribution in providing homes and shelters for their citizens. This has created a large vacuum in the Real Estate sector, so big a Vacuum that the ever increasing population has surpassed the number of government housing projects. The ratio thus is alarming- 1 in every 100k people live in government owned houses. Demand over Supply- going by the number of people currently based in Nigeria and the number of new businesses on the increase in the country it is imperative to say that the demand for both Residential and Commercial Accommodation has shot up 100% and counting. The Fifth Reason why you should own a property in Nigeria- is for you to be play a role in filling the large gap in the sector. There is no asking if it’s a sure and viable area to invest, this sector is yearning for both small and large scale investment. And returns on investment is guaranteed 100%. check our website for property listings WWW.FSBO-HOME.BIZ/1933
JAIME