"How Accepting Online Payments Can Save You Time and Money"
Whether you're an active property manager, or you pay someone to handle management tasks for your rental properties, you're investing time and money in juggling a myriad of tenant, property management and maintenance tasks. Just one of these is the collection of, and accounting for, rent payments.
* Issue of rent billing and/or reminders for prompt payment
* Delinquent payment reminders and action items
* Receipt of paper checks and accounting for proper tenant credit
* Preparation of deposit records and bank trips to make deposits
In an article titled Businesses Adopt Online Payments To Improve Cash Flow And Save Time And Money , WorkZ, a site for small business help, cites a Gartner research study on the costs of processing manual payments. The study indicated a cost of $2 to $5 to send a paper bill, and $10 to process a paper check. These numbers are related to a successful billing and on-time payment. As property owners and managers, we regularly experience late rental payments, with the associated costs of reminders and action to bring the tenant into compliance.
An actual property management example was outlined in the WorkZ article, beginning with this statement from the company involved: "Andrew Bloch, CFO and Alan Cusson, IT Manager of The Hamilton Company, Boston, Massachusetts, a large property management company, stated "that we have been looking for a solution where we could send a statement to our many tenants either by email or fax and to allow our tenant to be able to make payment over the Internet. Our company processes a significant number of transactions each month and it is very costly to send out statements. The problem with paper checks is that it takes a lot of time and money to handle them,"
Of course, there is the ability to accept credit cards. However, the costs involved will make a significant dent in profitability. With the various fees involved in accepting cards, costs can be 2% to 4% of rentals. These fees are saved by the direct debit of the tenant's bank account, and immediate deposit into the property management account. The electronic rent collection services offered by Buildium make this happen, and at a very low per-transaction cost. There are no credit card processing fees, and the cost to process a paper check is slashed by more than 80%.
By using an online rental payment system, the tenant gets some advantages as well:
* Ability to track their rental account history online
* They can pay from anywhere, even on vacation or away for business
* They save postage and a trip to the post office or mailbox
* It's convenience in a very busy world
We owners and property managers save time and money by avoiding those trips to the bank to make deposits. Our cash flow improves, as the funds are deposited into our account immediately. The Buildium online payments system takes care of the accounting function as well, automatically crediting the appropriate rental account, as well as monitoring delinquency status and sending reminders.
Whether you own or manage five units or 5000, this is a proven way to improve cash flow, cut administrative costs, and reduce staff workload.
About the Author
Dimitris Georgakopoulos is Vice President of Technology and one of the founders of Buildium LLC, maker of online property management software for landlords, professional property managers, condos and homeowner associations (HOAs) designed to help them operate more easily and with better results. For further details, visit the website, http://www.buildium.com or contact Dimitris direct
Thursday, July 31, 2008
Lease Option Real Estate Investing
Lease Option Investing
Exactly what is lease option real estate investing? A lease option is basically a rent-to-own contract for a piece of real estate. The buyer signs an exclusive contract to have buying rights to a property after a given amount of time. When the allotted time expires, the buyer can do one of two things: buy at the price agreed on when the contract was signed, or don't buy the property and forfeit down payment.
To make this easier, let's take a look at this from a buyer's eyes.
Buyer
Why would anyone use a lease option for real estate investing? Try risk management. If you were shopping for a home a few years ago (before the market went bad) but were unclear if the area would be hit by recession, you could use a lease option to pay monthly 'rent' and then wait for the contract to expire. The next step would be to get the property appraised. As a buyer, a lease option means you do NOT have to buy the property.
So when you look at the home appraisal after a few years, you compare the current market value to that of the agreed upon purchase price. If the home is worth more than what you agreed, you can purchase and gain instant equity. But, if the property went down in value, then you can leave the deal with no ties and are only lose the down and monthly payments.
How about some real numbers to see how this works? You sign a lease option to buy a home for 100,000 after a 3 year contract. You put 3% down for the contract as you 'good faith', and agree to pay 100$, above current market rents (this excess going toward a future down payment when the real purchase takes place).
When the contract is over you have the home appraised. Luckily the home went up 10% over the last three years! Suddenly you have exclusive rights to buy the home for 10k below the current market value! Since you already put 3% down and can couple that with 100/month (2400) credited for the purchase, you have a total of 5400 (5.4%) toward the real purchase! Now, 10% of 110000 is 11,000 and you now have 5400+10k in equity for a total of 15400 towards buying this property! So, with 3% down and a little thriftiness you have gained a 15.4% down payment!
Yeah, but if the house went down in value? So the appraisal comes in at 90,000. Ordinarily, since the house went down 10k, you would have to shoulder that loss. But since you purchased a lease option, you get to walk away from the property instantly and with no further commitments. However, you do lose the down payment and the extra 100/month. In otherwords, you lose 5400$. Yes it's a loss. However, if you had bought the home for 100,000, you would be suffering a loss of 10,000 instead of 5400! This is a loss regardless, but you save yourself nearly double the loss by using a lease option.
But how does this benefit the seller?
Seller
During these poor economic times, it's very tough to sell your property since there are many sellers polluting the market and increasing the number of unsold houses. The excessive inventory lowers overall prices. Now, for some reason (personal or financial) you need to sell your property and fast or cover the payments.
Lease options can do both and here is how.
Thanks to the financial education available, many people want to buy a home but do not have the credit or the full down payment needed to buy a home. Seriously, how many people do you personally know that could be identified as one or the other? These people are ready and willing to buy a property but can't get a bank to look in their direction. Hence why a lease option for a low down payment that accepts medium to poor credit has such a strong customer base.
Okay, time for some more real numbers, this time from the seller's perspective. Let's assume you have a home that you paid 200,000 to buy. Then the market plummeted and now your home is worth 190k. You will have a 10,000 loss in combination with realtor fees if you were to sell your house. I doubt this sounds appealing. What about renting it out to cover the payments? Assume local rents for a 3/2 in your area average 1100. This would not cover your approximate $1400 payments. Are you screwed? No.
You jump on craig's list and offer to lease option you home. 'Rent to own this 205k house for as little as 6k down!' Then you detail the extra monthly amount that will go toward the future total down. Notice you asked for MORE than what the property is currently worth. Why? Because those buying the lease option are buying based on an ESTIMATE of what the home will be worth when the contract expires.
Now take a look at the monthly premium. Obviously the regular rents in the area will not cover you payments. So let's break the payments down a bit. Of the $1400, roughly 200 is used to reduce the principle, so you will get it back upon selling. So the1400 is really 1200. That's isn't too far from the1100 regular rent. Since you're doing someone a favor by carrying the contract, asking an extra 100 more should be reasonable. HOWEVER, the buyer will also be paying more to be used as a future down IF they decide to buy. If the buyer does not exercise the option, then you get to keep all the extra money (down and extra monthly payments).
What this means is that your monthly payment would be 1100 plus a 'fee' of 100. In addition, there is the negotiable amount toward the buyer's future down payment. Assume that extra payment is 200/month over the 3 year contract. The buyer could have the mitigated risk purchase of your home IMMEDIATELY for a paltry 6000$ down and modified monthly payments of 1400. Oh, but we aren't finished. That just happens to be the exact same amount you're paying and you have a real bank mortagage!! Hopefully you can see how this could be appealing to potential buyers that are lacking the down payment. And it's all mitigated for risk!
So how does that really benefit you? Well, the buyer agrees to a purchase price that is NOT impacted by the current economic slow down. You adjust the this price as if the property had never lost any value. In other words, you want a 3% annual appreciation on your home so you offer a 1 year purchase price of 200,000+3% or a two year buy price of (200k+3%)+3%. This would be 206k and 212180 respectively.
The 3% is really $6k. But, isn't that the same as the down payment for the option?! So if the buyer does NOT buy the house after 1 year, you STILL get the 3%!! Now, add in the extra monthly 200 and you get another 2400 per year! And if they DO buy the house? You get your 200k+3% anyway! Lease options are a win-win situation.
You get your % regardless of the market value and the buyer gets their purchase mitigated for risk at the same price while getting a potentially substantial gain in equity!
Conclusion:
Lease option real estate investing is a rent-to-own strategy that works through signing a contract for exclusive buyer privileges at the end of the agreed upon time period for an agreed upon amount. This contract can VERY easily work to the benefit of both the buyer and the seller, and allows for property sales at your asking price even in recessed markets.
Lease option real estate investing should definitely be considered by either the investor, the buyer, or both!
About the Author
The korprit zombie is an author for Beginner Investing & Passive Income and an avid enthusiast of entrepreneurial exploration.
Exactly what is lease option real estate investing? A lease option is basically a rent-to-own contract for a piece of real estate. The buyer signs an exclusive contract to have buying rights to a property after a given amount of time. When the allotted time expires, the buyer can do one of two things: buy at the price agreed on when the contract was signed, or don't buy the property and forfeit down payment.
To make this easier, let's take a look at this from a buyer's eyes.
Buyer
Why would anyone use a lease option for real estate investing? Try risk management. If you were shopping for a home a few years ago (before the market went bad) but were unclear if the area would be hit by recession, you could use a lease option to pay monthly 'rent' and then wait for the contract to expire. The next step would be to get the property appraised. As a buyer, a lease option means you do NOT have to buy the property.
So when you look at the home appraisal after a few years, you compare the current market value to that of the agreed upon purchase price. If the home is worth more than what you agreed, you can purchase and gain instant equity. But, if the property went down in value, then you can leave the deal with no ties and are only lose the down and monthly payments.
How about some real numbers to see how this works? You sign a lease option to buy a home for 100,000 after a 3 year contract. You put 3% down for the contract as you 'good faith', and agree to pay 100$, above current market rents (this excess going toward a future down payment when the real purchase takes place).
When the contract is over you have the home appraised. Luckily the home went up 10% over the last three years! Suddenly you have exclusive rights to buy the home for 10k below the current market value! Since you already put 3% down and can couple that with 100/month (2400) credited for the purchase, you have a total of 5400 (5.4%) toward the real purchase! Now, 10% of 110000 is 11,000 and you now have 5400+10k in equity for a total of 15400 towards buying this property! So, with 3% down and a little thriftiness you have gained a 15.4% down payment!
Yeah, but if the house went down in value? So the appraisal comes in at 90,000. Ordinarily, since the house went down 10k, you would have to shoulder that loss. But since you purchased a lease option, you get to walk away from the property instantly and with no further commitments. However, you do lose the down payment and the extra 100/month. In otherwords, you lose 5400$. Yes it's a loss. However, if you had bought the home for 100,000, you would be suffering a loss of 10,000 instead of 5400! This is a loss regardless, but you save yourself nearly double the loss by using a lease option.
But how does this benefit the seller?
Seller
During these poor economic times, it's very tough to sell your property since there are many sellers polluting the market and increasing the number of unsold houses. The excessive inventory lowers overall prices. Now, for some reason (personal or financial) you need to sell your property and fast or cover the payments.
Lease options can do both and here is how.
Thanks to the financial education available, many people want to buy a home but do not have the credit or the full down payment needed to buy a home. Seriously, how many people do you personally know that could be identified as one or the other? These people are ready and willing to buy a property but can't get a bank to look in their direction. Hence why a lease option for a low down payment that accepts medium to poor credit has such a strong customer base.
Okay, time for some more real numbers, this time from the seller's perspective. Let's assume you have a home that you paid 200,000 to buy. Then the market plummeted and now your home is worth 190k. You will have a 10,000 loss in combination with realtor fees if you were to sell your house. I doubt this sounds appealing. What about renting it out to cover the payments? Assume local rents for a 3/2 in your area average 1100. This would not cover your approximate $1400 payments. Are you screwed? No.
You jump on craig's list and offer to lease option you home. 'Rent to own this 205k house for as little as 6k down!' Then you detail the extra monthly amount that will go toward the future total down. Notice you asked for MORE than what the property is currently worth. Why? Because those buying the lease option are buying based on an ESTIMATE of what the home will be worth when the contract expires.
Now take a look at the monthly premium. Obviously the regular rents in the area will not cover you payments. So let's break the payments down a bit. Of the $1400, roughly 200 is used to reduce the principle, so you will get it back upon selling. So the1400 is really 1200. That's isn't too far from the1100 regular rent. Since you're doing someone a favor by carrying the contract, asking an extra 100 more should be reasonable. HOWEVER, the buyer will also be paying more to be used as a future down IF they decide to buy. If the buyer does not exercise the option, then you get to keep all the extra money (down and extra monthly payments).
What this means is that your monthly payment would be 1100 plus a 'fee' of 100. In addition, there is the negotiable amount toward the buyer's future down payment. Assume that extra payment is 200/month over the 3 year contract. The buyer could have the mitigated risk purchase of your home IMMEDIATELY for a paltry 6000$ down and modified monthly payments of 1400. Oh, but we aren't finished. That just happens to be the exact same amount you're paying and you have a real bank mortagage!! Hopefully you can see how this could be appealing to potential buyers that are lacking the down payment. And it's all mitigated for risk!
So how does that really benefit you? Well, the buyer agrees to a purchase price that is NOT impacted by the current economic slow down. You adjust the this price as if the property had never lost any value. In other words, you want a 3% annual appreciation on your home so you offer a 1 year purchase price of 200,000+3% or a two year buy price of (200k+3%)+3%. This would be 206k and 212180 respectively.
The 3% is really $6k. But, isn't that the same as the down payment for the option?! So if the buyer does NOT buy the house after 1 year, you STILL get the 3%!! Now, add in the extra monthly 200 and you get another 2400 per year! And if they DO buy the house? You get your 200k+3% anyway! Lease options are a win-win situation.
You get your % regardless of the market value and the buyer gets their purchase mitigated for risk at the same price while getting a potentially substantial gain in equity!
Conclusion:
Lease option real estate investing is a rent-to-own strategy that works through signing a contract for exclusive buyer privileges at the end of the agreed upon time period for an agreed upon amount. This contract can VERY easily work to the benefit of both the buyer and the seller, and allows for property sales at your asking price even in recessed markets.
Lease option real estate investing should definitely be considered by either the investor, the buyer, or both!
About the Author
The korprit zombie is an author for Beginner Investing & Passive Income and an avid enthusiast of entrepreneurial exploration.
An Easy Way to Save Money on Your Mortgage
You pay the exact same sum on your mortgage each month, but a simple trick that doesn’t change the amount can save you a lot of money. It is a simple but powerful solution that not a lot of people are aware of.
We get paid each two weeks, as a rule. As we all know, things are usually easier at the beginning of these two weeks than at the end. And yet, we basically spend the same amount every week.
But we outlay the bulk of our money early in the period and then struggle at the end. The solution to this problem is to budget your funds in general, but budgeting your home loan payment, the biggest single expense for most people is sure to help the problem.
This simple trick saves thousands of dollars for most people, and will pay off a mortgage more quickly as well. For an $80,000 mortgage that has a 30 year term and a 7% interest rate, this simple trick can save in excess of $25,000.
Merely pay one half of your mortgage at the beginning of the month, and one half later, instead of all at the end. (This is what most people do, in order to make the beginning of the month due date.)
There is no real mystery to this: as you pay your mortgage earlier and earlier, you bring forward the eventual due date of the loan.
Because of this fact, your total interest payments are less.
Because of the way mortgage interest is calculated and paid down, most of your initial mortgage payments are allocated to pay interest, and only a small portion goes to principal. Since you pay so little of the principal, the interest keeps growing. But if you can speed up the amount of remittances, the principal part that is paid starts to rise faster. This will cause an early payoff of your whole mortgage!
Ask your bank if they have a form to make this choice, or just send an extra payment in well marked with your loan number. Alternatively, you can make copies of your payment notification and send them in with the additional payment.
As you can see, without any effect on the total impact on your monthly expenses, you have found the magic recipe for saving tons of interest and paying your mortgage down ahead of time.
About the Author
If you would like to know more about hypothèque visit: taux hypothécaire. You are responsible to verify that the information in the article is valid in your region before using it.
We get paid each two weeks, as a rule. As we all know, things are usually easier at the beginning of these two weeks than at the end. And yet, we basically spend the same amount every week.
But we outlay the bulk of our money early in the period and then struggle at the end. The solution to this problem is to budget your funds in general, but budgeting your home loan payment, the biggest single expense for most people is sure to help the problem.
This simple trick saves thousands of dollars for most people, and will pay off a mortgage more quickly as well. For an $80,000 mortgage that has a 30 year term and a 7% interest rate, this simple trick can save in excess of $25,000.
Merely pay one half of your mortgage at the beginning of the month, and one half later, instead of all at the end. (This is what most people do, in order to make the beginning of the month due date.)
There is no real mystery to this: as you pay your mortgage earlier and earlier, you bring forward the eventual due date of the loan.
Because of this fact, your total interest payments are less.
Because of the way mortgage interest is calculated and paid down, most of your initial mortgage payments are allocated to pay interest, and only a small portion goes to principal. Since you pay so little of the principal, the interest keeps growing. But if you can speed up the amount of remittances, the principal part that is paid starts to rise faster. This will cause an early payoff of your whole mortgage!
Ask your bank if they have a form to make this choice, or just send an extra payment in well marked with your loan number. Alternatively, you can make copies of your payment notification and send them in with the additional payment.
As you can see, without any effect on the total impact on your monthly expenses, you have found the magic recipe for saving tons of interest and paying your mortgage down ahead of time.
About the Author
If you would like to know more about hypothèque visit: taux hypothécaire. You are responsible to verify that the information in the article is valid in your region before using it.
Saturday, July 19, 2008
Real Estate Agent - How They Make Money!
Have you ever wondered how your real estate agent gets paid? Sure, there is talk of commission, percentages, fees, closing costs- all of these are broken down at closing. But, what does he actually get? Surprisingly, you do not pay your agent a commission. Only a licensed broker can get paid a commission and he is the one who pays your agent. There are also a number of ways to divvy up the pay. The person who worked so hard to sell or find your house may not be making as much as you think. Here are some of the ways the money makes it to your representative:
A real estate agent works for a licensed broker or brokerage house. When he brings a client to the table, either for buying or selling, an agreement is signed between the client and the brokerage house. Typically when a sale is made, an average of 6% of the sale price is commission for the brokers. It is not always a straight split, but close to half, which goes to the broker representing the seller and the buyer.
Once the commission is divided up between the houses, the brokers then decide how much to pass down to the agent who actually did the leg work. This amount varies depending on experience, time with the company and the productivity level of the representative. A brand new representative may only get thirty percent of the cut where as a seasoned pro that brings in a ton of business, may get half or more of the proceeds.
Another option is that the agent gets all of the commission, but pays a monthly fee to the brokerage house. This is sort of a rent. He gets an office and uses the company name to back his reputation. This is an attractive deal to many representatives, because they pay the same amount every month, no matter how much they make. For new people to the business who have not built up a client list and do not benefit from word-of-mouth yet, the traditional split is usually preferable, because they may not make enough every month to make the set payment.
There are some factors that eat into the final profit made by the brokerage house and the representative. If the house is a franchise, there is a fee that must be paid to them out of every commission. Sometimes referrals come into play as well. If a brokerage house sends a customer to you, they will want a referral fee. There is a percentage that also comes out of the commission.
Typically, this commission is paid by the seller at closing. However, depending on the type of market, this is negotiable. Another negotiable point is how the commission is divided. If you are having a difficult time in selling, because the market is flooded with houses, you may want your representative to offer a bigger cut of the commission to the buyer's representative. This may help close the deal.
So, as you can see, there is more to the payment than simply figuring 6%. After everyone else gets the money, your real estate agent is then paid the amount.
There are some factors to be considered while dividing the profit between the broker and the agent. Asheville NC real estate gives you information on division of commission and finalizing the deal. Visit Preferred Real Estate Center http://www.preferredrealestatecenter.com for details.
Article Source: http://EzineArticles.com/?expert=Andrew_Stratton
A real estate agent works for a licensed broker or brokerage house. When he brings a client to the table, either for buying or selling, an agreement is signed between the client and the brokerage house. Typically when a sale is made, an average of 6% of the sale price is commission for the brokers. It is not always a straight split, but close to half, which goes to the broker representing the seller and the buyer.
Once the commission is divided up between the houses, the brokers then decide how much to pass down to the agent who actually did the leg work. This amount varies depending on experience, time with the company and the productivity level of the representative. A brand new representative may only get thirty percent of the cut where as a seasoned pro that brings in a ton of business, may get half or more of the proceeds.
Another option is that the agent gets all of the commission, but pays a monthly fee to the brokerage house. This is sort of a rent. He gets an office and uses the company name to back his reputation. This is an attractive deal to many representatives, because they pay the same amount every month, no matter how much they make. For new people to the business who have not built up a client list and do not benefit from word-of-mouth yet, the traditional split is usually preferable, because they may not make enough every month to make the set payment.
There are some factors that eat into the final profit made by the brokerage house and the representative. If the house is a franchise, there is a fee that must be paid to them out of every commission. Sometimes referrals come into play as well. If a brokerage house sends a customer to you, they will want a referral fee. There is a percentage that also comes out of the commission.
Typically, this commission is paid by the seller at closing. However, depending on the type of market, this is negotiable. Another negotiable point is how the commission is divided. If you are having a difficult time in selling, because the market is flooded with houses, you may want your representative to offer a bigger cut of the commission to the buyer's representative. This may help close the deal.
So, as you can see, there is more to the payment than simply figuring 6%. After everyone else gets the money, your real estate agent is then paid the amount.
There are some factors to be considered while dividing the profit between the broker and the agent. Asheville NC real estate gives you information on division of commission and finalizing the deal. Visit Preferred Real Estate Center http://www.preferredrealestatecenter.com for details.
Article Source: http://EzineArticles.com/?expert=Andrew_Stratton
Philadelphia Real Estate - Best Places to Live!
So you have decided to move to Philadelphia, but are not too familiar with the area. You have talked to your family and friends, and everyone seems to point you in different directions. Your head is spinning because you don't want to make any mistakes, and I don't blame you! There are areas to run to, and areas to run away from. I am going to tell you about a few of the best areas in Center City Philadelphia to live in.
You have to consider a few things when deciding on a place to live. The first and most obvious is price. How much are you willing to spend on your dream house, and how much can you actually qualify for? (A pre-approval from a mortgage lender will answer this question)
The second thing to consider is location. Where do you work? Where do you like to spend your free time? What is important to you about location? The first two items go hand in hand with each other, The more desirable the location, the more expensive the house will be.
The third item to consider is safety. Center city has some extremely safe neighborhoods, but nestled between those safe neighborhoods are neighborhoods you want to avoid. Once you have ranked the first three items, you will be able to get into specifics.
According to the Trend MLS 2008 1st quarter economic report, the top 2 most expensive zip codes are as follows:
19103- Average sales price - $564,600. This area is known as Rittenhouse Square, and is known as one of the most prestigious areas in Center City. The boundaries are South of Market, North of Lombard, West of 15th, East of 22nd.
19106- Average sales price - $562,200. This zip code is made up of Old City, which stretches from the Delaware River, south of Vine Street, north of Walnut Street, and east of 7th Street; and Society Hill, which goes from South of Walnut, North of Lombard, West of Delaware, East of 6th.
Rittenhouse Square, Society Hill and Old City are all very desirable areas where value continues to remain steady. These neighborhoods are built out for the most part, and it is difficult to find raw land for a reasonable price in these areas. If location is your top priority, and price will not stand in your way, these areas may be good places to look for a house. There are tons of restaurants and stores, and many nice parks for kids or dogs.
If price is a concern, and you are looking for something with more space and possibly some parking, Graduate Hospital may be a better choice for you. You will have an easier time finding a newer house for a more reasonable price, and parking is not as big of an issue there. The borders of Graduate Hospital are South of Lombard, North of Washington, East of the Schuylkill River, West of Broad, although I caution you about the specific streets you choose.
If you want to find out more information about these areas, or other areas in Philadelphia, please click here.
Noah Ostroff
Licensed PA Realtor
Coldwell Banker Preferred
For more information about Philadelphia Real Estate, please send an email to nostroff@cbpref.com
Article Source: http://EzineArticles.com/?expert=Noah_Ostroff
You have to consider a few things when deciding on a place to live. The first and most obvious is price. How much are you willing to spend on your dream house, and how much can you actually qualify for? (A pre-approval from a mortgage lender will answer this question)
The second thing to consider is location. Where do you work? Where do you like to spend your free time? What is important to you about location? The first two items go hand in hand with each other, The more desirable the location, the more expensive the house will be.
The third item to consider is safety. Center city has some extremely safe neighborhoods, but nestled between those safe neighborhoods are neighborhoods you want to avoid. Once you have ranked the first three items, you will be able to get into specifics.
According to the Trend MLS 2008 1st quarter economic report, the top 2 most expensive zip codes are as follows:
19103- Average sales price - $564,600. This area is known as Rittenhouse Square, and is known as one of the most prestigious areas in Center City. The boundaries are South of Market, North of Lombard, West of 15th, East of 22nd.
19106- Average sales price - $562,200. This zip code is made up of Old City, which stretches from the Delaware River, south of Vine Street, north of Walnut Street, and east of 7th Street; and Society Hill, which goes from South of Walnut, North of Lombard, West of Delaware, East of 6th.
Rittenhouse Square, Society Hill and Old City are all very desirable areas where value continues to remain steady. These neighborhoods are built out for the most part, and it is difficult to find raw land for a reasonable price in these areas. If location is your top priority, and price will not stand in your way, these areas may be good places to look for a house. There are tons of restaurants and stores, and many nice parks for kids or dogs.
If price is a concern, and you are looking for something with more space and possibly some parking, Graduate Hospital may be a better choice for you. You will have an easier time finding a newer house for a more reasonable price, and parking is not as big of an issue there. The borders of Graduate Hospital are South of Lombard, North of Washington, East of the Schuylkill River, West of Broad, although I caution you about the specific streets you choose.
If you want to find out more information about these areas, or other areas in Philadelphia, please click here.
Noah Ostroff
Licensed PA Realtor
Coldwell Banker Preferred
For more information about Philadelphia Real Estate, please send an email to nostroff@cbpref.com
Article Source: http://EzineArticles.com/?expert=Noah_Ostroff
Florida Real Estate and Inflation
A constant motto in my conversations with potential customers is that inflation is a key factor in Real Estate investment. My personal feelings have always been that inflation indexes and calculation have historically been somehow skewed and distorted and that they don't accurately reflect the reality of our currency devaluation throughout the last two decades.
A quick trip to supermarkets and gas stations and a quick look at your property taxes, property insurance bills, the price a new home, will quickly put in doubt the touted 2% or 2,5% annual inflation rates included in official economic data. All signs are that we are heading into a period of high inflation, fed by enormous hikes in oil and food prices.
Real estate is a unique, valuable and tangible asset, which is not always the case with stock market shares, bonds, and other paper investments. World's population is constantly growing; the amount of available land and recourses is not. Unlike a dollar in the bank, its actual value will not shrink with inflation. Real estate will always be needed for residence, commercial, farming and industrial use.
My opinion has always been that, if we follow certain criteria and reasonable principles when acquiring real estate, it will always be, on the long term, the best investment we've ever made. In Florida, this is especially true, since we are one of the fastest growing states in the US, and we are due for a continued migration from of baby boomers from Northern states, Latin Americans, and Europeans. The very high inventory of condos and homes available will be eventually absorbed - and faster than most of us realize. After all, a couple of years of low construction would be enough.
The newspapers, on July 17th, 2008 were talking of a last month inflation percentage in the vicinity of 1% or more. Is that scary? Even though they clarify that it's due to fuel and foods only, while in other items such as clothing, it was actually negative, I am afraid that, in the longer term, food and fuel will reflect on all other components. Not only transportation, heating, energy are affected by fuel prices.
Practically every other item will surely feel the pressure and eventually ride the inflation wave.
It's a fact that once inflation takes off, it is self-feeding and hard to contain. Not that I want to be a fear monger, but I have seen this happen in the past and I have seen banks paying 18% interests on Certificates of deposit!
It is true that inflation can be a blessing for many mortgage borrowers, when their interests are at a fixed rate. Imagine paying during 30 years a mortgage at 6%, when inflation could be in the range of 10 or 15% and new buyers could be paying an 18% fixed rate! Impossible? Not really, it has already happened not so long ago.
That's what, sooner than most believe, real estate is due for a strong recovery. And you better not be too late!
Henry B. Nathan is a Realtor in South Florida.
Please visit my office at Sunny Isles.
I invite you to also visit my website with one of the top real estate database. Great Search Tools will make your search enjoyable and successful.
http://www.condo-southflorida.com
Article Source: http://EzineArticles.com/?expert=Henry_B._Nathan
A quick trip to supermarkets and gas stations and a quick look at your property taxes, property insurance bills, the price a new home, will quickly put in doubt the touted 2% or 2,5% annual inflation rates included in official economic data. All signs are that we are heading into a period of high inflation, fed by enormous hikes in oil and food prices.
Real estate is a unique, valuable and tangible asset, which is not always the case with stock market shares, bonds, and other paper investments. World's population is constantly growing; the amount of available land and recourses is not. Unlike a dollar in the bank, its actual value will not shrink with inflation. Real estate will always be needed for residence, commercial, farming and industrial use.
My opinion has always been that, if we follow certain criteria and reasonable principles when acquiring real estate, it will always be, on the long term, the best investment we've ever made. In Florida, this is especially true, since we are one of the fastest growing states in the US, and we are due for a continued migration from of baby boomers from Northern states, Latin Americans, and Europeans. The very high inventory of condos and homes available will be eventually absorbed - and faster than most of us realize. After all, a couple of years of low construction would be enough.
The newspapers, on July 17th, 2008 were talking of a last month inflation percentage in the vicinity of 1% or more. Is that scary? Even though they clarify that it's due to fuel and foods only, while in other items such as clothing, it was actually negative, I am afraid that, in the longer term, food and fuel will reflect on all other components. Not only transportation, heating, energy are affected by fuel prices.
Practically every other item will surely feel the pressure and eventually ride the inflation wave.
It's a fact that once inflation takes off, it is self-feeding and hard to contain. Not that I want to be a fear monger, but I have seen this happen in the past and I have seen banks paying 18% interests on Certificates of deposit!
It is true that inflation can be a blessing for many mortgage borrowers, when their interests are at a fixed rate. Imagine paying during 30 years a mortgage at 6%, when inflation could be in the range of 10 or 15% and new buyers could be paying an 18% fixed rate! Impossible? Not really, it has already happened not so long ago.
That's what, sooner than most believe, real estate is due for a strong recovery. And you better not be too late!
Henry B. Nathan is a Realtor in South Florida.
Please visit my office at Sunny Isles.
I invite you to also visit my website with one of the top real estate database. Great Search Tools will make your search enjoyable and successful.
http://www.condo-southflorida.com
Article Source: http://EzineArticles.com/?expert=Henry_B._Nathan
Ideas on How to Sell Real Estate to Seniors!
The real estate market is a very competitive business and working with seniors is becoming very competitive as well. In this article we want to talk about ways to sell real estate to seniors and things you should keep in mind when targeting this market.
Seniors are a very large and growing market. People live longer today than they did in the past. They also are more healthy and do not end up in nursing homes or assisted living facilities as quick as they used to.
Another thing about this market is as their kids grow up and leave they outgrow their larger homes. Larger homes can be difficult to keep up and take care of. Large yards may not even be what they want anymore. So you can see there is a definite market here.
Going online is the best way to learn how to sell real street to seniors. The best way to sell them real estate is to advertise specifically to them. There are real estate sites online that are for seniors only.
So you want to make sure that you advertise your real estate to these sites. By keeping your home listed on more sites you have the opportunity that more seniors will be interested in it and see it. You can also visit other places online that seniors hang out. Let them know what you have and see who is interested.
The next best way to sell real estate to seniors is to go to your local real estate companies and talk to them about who you are trying to sell to. They can give you ideas or help you list your home for seniors only. They know what their senior clients are looking for so they can be a big help to you in selling your property to seniors. So take advantage of their help.
Another way is to go to the places that seniors like to be. Print out some fliers and talk to them about your real estate. Let them know everything about it and answer any of their questions. If someone acts more interested than others then you want to spend time with the interested party. Help them as much as you can and even offer to show them the property when they have time.
Best of all, when you are informed in the way that how to sell real estate to seniors works, you can make better decisions on the best course of action to handle your own situation in dealing with this market.
Jeff Schuman invites you to visit his article writer website for 100% copyright articles and multiple article discounts on website and blog articles. Competitive pricing, testimonials, samples! http://article-writer.team-schuman.com
Article Source: http://EzineArticles.com/?expert=Jeff_Schuman
Seniors are a very large and growing market. People live longer today than they did in the past. They also are more healthy and do not end up in nursing homes or assisted living facilities as quick as they used to.
Another thing about this market is as their kids grow up and leave they outgrow their larger homes. Larger homes can be difficult to keep up and take care of. Large yards may not even be what they want anymore. So you can see there is a definite market here.
Going online is the best way to learn how to sell real street to seniors. The best way to sell them real estate is to advertise specifically to them. There are real estate sites online that are for seniors only.
So you want to make sure that you advertise your real estate to these sites. By keeping your home listed on more sites you have the opportunity that more seniors will be interested in it and see it. You can also visit other places online that seniors hang out. Let them know what you have and see who is interested.
The next best way to sell real estate to seniors is to go to your local real estate companies and talk to them about who you are trying to sell to. They can give you ideas or help you list your home for seniors only. They know what their senior clients are looking for so they can be a big help to you in selling your property to seniors. So take advantage of their help.
Another way is to go to the places that seniors like to be. Print out some fliers and talk to them about your real estate. Let them know everything about it and answer any of their questions. If someone acts more interested than others then you want to spend time with the interested party. Help them as much as you can and even offer to show them the property when they have time.
Best of all, when you are informed in the way that how to sell real estate to seniors works, you can make better decisions on the best course of action to handle your own situation in dealing with this market.
Jeff Schuman invites you to visit his article writer website for 100% copyright articles and multiple article discounts on website and blog articles. Competitive pricing, testimonials, samples! http://article-writer.team-schuman.com
Article Source: http://EzineArticles.com/?expert=Jeff_Schuman
Thursday, July 17, 2008
The Benefits of Becoming a Real Estate Bird Dog
The best benefit of becoming a real estate bird dog is that you get paid for your information while learning real estate investing. Check out the following list of benefits of bird dogging real estate:
You don't need to have a college degree in order to get started real estate bird dogging. Unlike real estate agent, you don't have to sit for examination. So long as you have the right attitude and willing to learn the trade, you can make money by locating properties for real estate investors. Investors will be more than happy to work with you and accept your offer to work and generate leads for them.
You don't need to buy properties. Your task is to locate properties and then compile the required information such as parcel address, lot no, name of owners, title records and so on for your investors. Therefore, you don't need to worry about your credit, your bank balances as you are not required to buy any properties.
You can start in your spare time and work at your own hours. You can start bird dogging in your spare time and supplement your full time income. So, you are basically your own boss and you don't need to report to anybody but yourself. You decide how many hours you want to work every week. You can start out as a a part timer and the best part is, you get to write your own pay check.
Generate income without risk - Bird dogging is basically a risk free method of generating extra income in your spare time. You can easily make few hundred dollars a month by passing information to investors.
Bird dogging real estate is an attractive way of learning real estate investing while getting paid for the information. It is never too late to get started as the demand for the service is huge.
Wondering how Real Estate Bird Dog make money without giving up their day job? Find out more at http://www.property-profiler.com
Article Source: http://EzineArticles.com/?expert=Gary_Goh
You don't need to have a college degree in order to get started real estate bird dogging. Unlike real estate agent, you don't have to sit for examination. So long as you have the right attitude and willing to learn the trade, you can make money by locating properties for real estate investors. Investors will be more than happy to work with you and accept your offer to work and generate leads for them.
You don't need to buy properties. Your task is to locate properties and then compile the required information such as parcel address, lot no, name of owners, title records and so on for your investors. Therefore, you don't need to worry about your credit, your bank balances as you are not required to buy any properties.
You can start in your spare time and work at your own hours. You can start bird dogging in your spare time and supplement your full time income. So, you are basically your own boss and you don't need to report to anybody but yourself. You decide how many hours you want to work every week. You can start out as a a part timer and the best part is, you get to write your own pay check.
Generate income without risk - Bird dogging is basically a risk free method of generating extra income in your spare time. You can easily make few hundred dollars a month by passing information to investors.
Bird dogging real estate is an attractive way of learning real estate investing while getting paid for the information. It is never too late to get started as the demand for the service is huge.
Wondering how Real Estate Bird Dog make money without giving up their day job? Find out more at http://www.property-profiler.com
Article Source: http://EzineArticles.com/?expert=Gary_Goh
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