Author: Ben Hirsh

The real estate closing gift idea is a fairly new concept for real estate practitioners. Many practitioners in real estate frown at the idea of giving a closing gift to one of their clients. More than likely, they have not embraced the idea because to them it does not seem like good business practice. Even though it may be new to the real estate industry, the idea of giving a gift at the close of a deal is not new to the business world. In fact, it is a practice that has been going on for many years. The practice of giving business gifts has proven to be a good relationship builder in the business world. The same can be true for real estate.

It is not difficult to come up with a real estate closing gift idea. There are some standard gifts that you can consider giving to your client. Alternatively, you can come up with a personalized real estate closing gift idea based on what you know about your client. In the weeks leading up to the close of the real estate deal, you, more than likely, spent a great deal of time with your client. During this time you probably learned something about their tastes. If this is the case, then you won't have too much trouble coming up with a suitable real estate closing gift.

Once you have come up with a real estate closing gift idea, there are some other considerations that you should take into account before purchasing the gift. The price of the real estate closing gift idea is important. While it isn't appropriate to spend a great deal of money on a gift, it is also inappropriate to purchase a cheap gift. In fact, it is better not to purchase a closing gift than it is to purchase a cheap gift. Your real estate closing gift idea should be something that the client can use in their new home. Consider the selling price of the home and the affluence of the buyer as you evaluate your real estate closing gift idea.

Add your personal touch to the real estate closing gift idea. This will take a little more time and effort, but the effect that it will have on your business relationship will be well worth it. When you add a personal touch to a real estate closing gift idea it conveys just how much appreciation you have for your client. When you can effectively express your appreciation for your client through a real estate closing gift idea the client will be sure to have positive things to say about your business relationship.

The real estate closing gift idea you have should have staying power. The longer the gift lasts, the more the client will be reminded of the service you provided. A long lasting gift provides more chances for the client to talk about your services. This is a subtle way of generating referrals for years to come.

Once you follow through on purchasing your real estate closing gift idea and giving it to the client, you can follow up with smaller tokens of appreciation. Consider sending a card or giving a phone call to your client at key milestones after the closing. For example, thirty days and six months after the close of the transactions are good times to follow up with your client. This will serve as a reinforcement of the good will that your gift giving generated.

Your real estate closing gift idea doesn't necessarily require a great deal of thought. Remember that the more thought you put into the gift, the more positive things the client will have to say about you. Only give the gift as a genuine token of appreciation, not to smooth things over with a deal that went sour.

Real estate closing gift idea – 13

Author: Ben Hirsh

Referral marking is one of the best ways to let others know about your real estate services. Perhaps the best thing about referral marketing is that you don't have to pay any money it. There is not much work involved with referral marketing and even the majority of that work is done by clients.

People naturally want to spread the word when they have received a good service. This word of mouth is known as referral marketing. When your clients have a positive experience with you, they naturally want to tell others about it. The more people who are informed about your excellent services, the more clients you will have. The more clients you have the more money you will make. What's good about referral marketing is that you get money for making money.

The large part of your real estate business's referral marketing strategy will come from the way you operate your business. The other part is developing an awareness of your referral marketing tactics. Your clients have to know that you want them to refer you to others. Otherwise, you can't rely on them to do so. If you have already been informing your clients that you would like them to refer you to others, then you can relax, this part of your work has been completed. On the other hand, if you made the assumption that your clients will naturally refer others to your business then you have some work to do.

Assuming you haven't informed any clients of your referral marketing strategy, you now need to determine that this will be a part of your business practices. Each customer that you deal with from now on should know, in some form or another, that you would like for him to refer you to another client. You might consider offering some kind of discount for each referral. Many real estate businesses offer such incentives.

Apart of creating awareness of your referral marketing strategy, you need to resolve to always operate in a manner that will give clients a reason to refer others to you. If a client does not have a positive experience with you, chances are that the client will tell someone of his bad experience. This will counter your referral marketing efforts. All it takes is 'one bad apple'. Be aware of your actions at all times.

If there are several facets to your business make sure that each client knows of these services as well. There may be times when a client only receives one of the services that you provide. This same client might know someone who is in need of another service that you provide but does know to refer the person to you. When this happens, your referral marketing has failed. Your referral marketing strategy must include informing clients of all the services you provide. By doing this you are ensuring that referral marketing works best for you.

Developing a referral marketing strategy is not difficult to do. The two major aspects of referral marketing include letting clients know to refer you to others and giving them a reason to refer you. Once you have done both of these things, your referral marketing efforts will begin to bring in new clients for your services.

Referral marketing – 15

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Author: Sarah Reiter

The real estate industry has been around for more than fifty years in the United States. The arrival of the virtual assistant and the VA industry occurred in the 1990s and has experienced a steady growth every year since its inception and is expected to continue growing at a steady rate. There has been a significant increase in the numbers of individuals choosing to start privately owned VA practices as an alternative to the uncertainty of conditions in the workforce today such as company downsizing and the outsourcing of jobs to the cheaper labor markets in other countries.

A virtual assistant is an individual who agents outsource some work and projects to that would require an agent to spend many hours in an office to complete, when an agent needs to be outside the office working with clients, vendors, contractors, and others in order to be a successful professional. Some of that work includes maintaining client files, online transaction coordination, receiving faxes, creating reports, developing and managing email and other marketing campaigns, and even website designing, among other general office work that agents often find themselves too busy to handle themselves.

The internet has impacted how transacting is done today. The internet allows fast downloading and printing of important reports such as listings, industry projections, market indicators, and much more. This has created a wealth of information that is available for the agent to use in their conducting of transactions, and provides consumers with more detailed information than what was easily available to them before. Setting up different programs to gather and organize this information takes some time and for this reason, many agents today will outsource such work to a virtual assistant.

This is an interesting tidbit provided by the information that virtual assistants taking an anonymous internet poll shared. Over 90 percent of those who are working as a VA are women. Rising child care costs, the desire to work from home, high income potential, and spending more time with family were the most often given responses for why to choose to open a VA work at home business. Another question in this anonymous polling of virtual assistants asked respondents to share how much income they make yearly working as an assistant. An averaging of the responses showed that the annual gross income of a virtual assistant is around $29,000, with some making more than $200,000 in annual gross income.

The future looks bright for the virtual assistant industry. As the internet evolves in what its technology will allow the agent to do, so will the demand for virtual assistants as more realtors will find the need to outsource the tracking, organizing, maintaining, and compiling of this new information into reports they can use, to the professional VA.

Author: James Copper

Many people will have the experience of facing financial difficulties at one time or another for a variety of reasons. Being a little short of money can result in you falling behind with bills, bank loans, credit cards, mortgage repayments and alike.

This in turn can lead to having defaults, County Court Judgements (CCJs) and even bankruptcy. Even if the problems are short lived they can still tarnish your credit record and make it difficult for you to obtain finance.

There are no accurate figures on the amount of people that get turned down for a mortgage from a high street lender, but it is widely estimated that it is about 1 in 5. Generally this is due to minor misunderstanding and can often be resolved. But even after this it is estimated that one in eight people will not be able to get a main stream mortgage and have to go to a specialist lender.

Why Do People Get Turned Down For Credit?

There are a number of reasons and situations for which someone will be turned down for a mortgage. It may simply be that the applicant has put down some incorrect details on the application form. Another reason might be that your previous landlord did not bother to confirm that you used to pay the rent on time.

Another more serious reason that people get turned down for a mortgage is that they do not have enough credit points. When you apply for a mortgage the lender will carry out a credit check on you.

You will gain credit points for a number of reasons for example if you have had the same address, job and bank account for a long time. Also people that keep up to date with repayments will gain points as well. But you will lose points if you have defaulted on debts, fallen behind with bills, have CCJs or have been made bankrupt.

What Can You Do If It Happens To You?

If you do get turned down for a mortgage or loan the first thing you should do is find out why. If you did fail a credit score the lender may not tell why, the credit agency that they used will know. It may be a mistake on their part, or an old default that should no longer be on your file.

The best thing to do is to get hold of your credit record from one of the agencies. The three main agencies are Equifax, Experian and Call Credit. If there is some kind of mistake then you can get it sorted.

Another reason that you may get declined a mortgage or loan is because you have not built up enough credit history. If this is the case then it might be an idea to take out a couple of good credit cards (there are always good deals to be had). Use them to purchase things and pay them off straight away.

What If You Have Had Serious Credit Problems?

If a high street lender turns you down for a secured loan or mortgage, then you will need to look towards the sub prime or bad credit market place. These specialist lenders have a vast array of bad credit loans to cater for people in a variety of different situations. Whether it is just a defaulted credit card that happened 12 months ago for 300 or a recent CCJ for which you still owe thousands. Whatever your situation is the chances are you will be able to find a lender.

Generally the worse your credit history is the higher the rate of interest you will pay, this is because you pose a higher risk to the lender. For example if you have two CCJs you will pay higher rate than someone who has a single default. The good news is that you have plenty of choice, there are thousands of deals out there for people with credit problems.

The easiest way to find a deal and suitable mortgage or loan product is to use a broker. The broker can carry out a credit search and based on the results they will be able to determine what your best options are. The majority of the bad credit lenders are not household names. Some of these lenders are owned by American companies and others are subsidiaries of high street lenders.

Getting The Best Deal

As previously mentioned the worse your credit history is, the higher the interest will be. If you have a light bad credit history, then as long as you keep up with repayments then you might be able to switch to a mainstream deal after two years.

If you have heavy bad credit history then you may have to wait three years before switching lenders. So for this reason it can be advisable to avoid products that tie you in for long periods.

So when the deal comes to an end, and you have kept up with your repayments you should look to move to a standard deal, possibly with a high street lender. Hopefully by this time your bad credit history will be long behind you.

Author: John Harris

Homeowners' insurance is a must for any owner of residential real estate. It has been around for many years, coming to the rescue of many real estate homeowners. Leaky pipes and their subsequent damage have been causing homeowners grief for an even longer time. Homeowners' insurance has alleviated such problems by underwriting the cost for repairs.

I remember as a child my father making repairs with money from our homeowner's insurance policy. He told me that there was never a claim too small, unless it was within the deductible range.

While my father's information was correct for the times, the rules for small claims on residential real estate have changed. Submitting a small claim today, especially for water damage, could cost you multitudes more in the future.

A California Insurance Department study showed that 25 percent of insurance companies refused to renew policies for residential real estate owners, who made one or two non-water damage claims within the past three years. The figure rose to 32 percent, when the claims were water damage-related. This means the insurers are paying the legitimate claims but are apt to drop those real estate customers at policy renewal time.

Additionally, all insurers share claims information through the Comprehensive Loss Underwriting Exchange (CLUE) database. Not only are you apt to be dropped by your current residential real estate insurer, but others may not approve you. The study also showed that 62 percent of the top 13 insurers in the state of California refused applicants with only one-to-two claims in the past three years.

If another insurer does approve you, it will most definitely be at a much higher premium rate that will add up over the years to a much larger amount than the small water damage claim you made.

So, what has changed?

Toxic Mold

Litigators have jumped on the toxic mold lawsuit bandwagon. Toxic mold comes from water damage repairs that were incorrectly made or only partially cleaned up. It can literally make the real estate residents very ill. Some toxic mold is created by homes that were not quality built and allowed water to seep in between the outer and inside walls. There have been a few multimillion-dollar homes in California that had to be totally leveled due to toxic mold.

Insurance companies generally are expected to pick up the tab and then sue the repair contractor or original builder for reimbursement. This attitude has caused a lot of litigation — between insurers and residential real estate owners, as well as between insurers and parties assumed to be responsible for the toxic mold. They often lose court cases for reimbursement, as well as incurring attorney fees and court costs. Is it any wonder insurance companies have become gun-shy of small water damage claims that could lead to costly repairs and litigation later.

Administrative Costs

Another reason for the change in attitude toward water damage claims is the change in real estate insurers' business practices. Since the early 90s, real estate insurers have looked for more practical ways to increase profits. Through studies, they found that small claims created the same large administrative costs as the larger claims, even though the payouts were small. They now weed out residential real estate customers who make small claims.

Alternative Game Plan for Real Estate Homeowners

Today, it is better not to make small damage claims of any type. Real estate homeowners should increase their deductibles to $1,000 or $2,500. This reduces their premium costs by as much as 30 percent. They are covered for large damages but not paying for services (small claims) that they are not receiving.

With the larger deductible, the premium savings can be placed into a savings account to pay for small claims that would earlier have been submitted to the insurer. Whenever used, the money should be replaced as soon as possible.

After seven-to-ten years of submitting no claims, most real estate insurers will qualify you for a claims-free discount, saving you even more money.

Is It Worth It?

In deciding if you should submit a claim (even a larger one), first determine if it is worth the possibility of losing your policy and/or paying higher rates. Add up all the repair costs. Determine how much the real estate insurer will pay, based on your policy. Subtract your deductible. Is the remainder only a couple hundred dollars or substantially more? Now, determine if it is worth it. Remember, even moving to another state will not escape the CLUE database.

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Author: John Harris

In May of 1997, the tax code governing profit from the sale of a personal residence was changed. In the past, any gain from a home for sale could be taxed, unless rolled over into the purchase of a new home.

The new Internal Revenue Service rules are more advantageous to sellers of homes for sale. You can no longer roll a gain into the new home; however, not all gain is taxable as in the past.

Now, homes for sale have the first $250,000 of profit exempt from any taxes, if you are the owner and filing single status. If you file jointly with your spouse, your homes for sale gain is tax exempt up to $500,000 — this is a half-million dollars, tax-free profit. This means that if you purchased a home for $200,000, you could sell it for $450,000 as a single or $700,000 as a couple and incur no taxes on the profit.

There is, however, a time and resident test that must be met in order to receive this tax exemption for your homes for sale profit. You must have lived in the home for two out of the past five years in order to qualify for the tax exemption.

What If You Don't Meet the Time & Resident Test

So, does that mean that if you do not meet the time and resident test you then owe taxes on all of the gain? Not necessarily.

The tax code allows for several specific exemptions to the time and resident test, when you must move due to certain qualifying events. Here are a few of those events:

• You must move due to the health of one of the residents in the home (your immediate family) or the health of a relative who is in your care.

• A death in your immediate family that incurs the move, such as a breadwinner dies and the spouse cannot afford to keep the home.

• Divorce that forces a move.

• The unemployment of a breadwinner (must be qualified for and receiving unemployment compensation) and cannot afford to keep the home.

• A new job that is 50 miles further away from the home than the current job. Otherwise, if you drove 20 miles to your current job, then the new job must be at least 70 miles from the home to qualify for an exemption.

• Your home was damaged from a natural or manmade disaster, and you were forced to sell it.

• Perhaps an act of war or terrorism has caused the move.

• Even the birth of twins, triplets and so on, made the current home for sale too small and impractical to keep.

IRS publication 523, "Selling Your Home", covers many other unforeseen events that would qualify you for an exemption.

When you do not meet the time and resident test but qualify under one of the unforeseen event exemptions, you receive only a partial exemption for the gain on your home for sale. You will be taxed on a pro-rated amount of the gain, based upon how long you actually resided in the home.

If you lived there less than a year, then the profit from your home for sale is considered to be a short-term gain. This means, on the pro-rated amount you owe taxes, you will pay the same tax rate as you do on your 1040 income tax form.

If you have lived more than one year but less than two in your home for sale, the profit is considered to be a long-term gain. Rather than paying the generally higher income tax rate, most people are taxed at 15 percent. So, if you have lived in the home for less than one year, it is to your advantage to remain there until you pass the one-year time mark — if at all possible.

The changes in the tax code for profit on homes for sale is much easier now to calculate and typically are more advantageous to the seller now, than in the past. Of course before making any home selling decisions or plans, consult a Certified Public Accountant or other tax professional.

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Author: Geri Mason

A Great way to sell your house is to have an open house day.

(there is a free ebook: 101 Tips For Selling Your House,for you to download, from a link at the bottom of this page).

Many for sale by owner home sellers have successfully sold their homes by taking just one weekend and opening up their house to prospective buyers.

here's a very good chance that a friend, relative, or neighbor of yours knows someone who is looking for a house.

By advertising your for sale by owner open house, it gives buyers a chance to come by and see what you are offering.

Here are some tips for a successful for sale by owner open house:

To make your home look spacious bring as much light into the home as possible. You can do this by opening the blinds and curtains and turning on all the lights. Pay close attention to entrance light in your foyer, dining room and living room.

Allow buyers to envision themselves in the home.

If you have too much of your own personal effects in your home, this will be difficult. Remove family photographs from the walls and tabletops.

Not only will the sparse decoration enable the buyer to imagine living in the home, it will also create the illusion of a larger space.

Create a welcoming aroma in your home. You can do this by baking cookies or bread or by boiling cinnamon sticks.

Put bowls filled will potpourri in the bathrooms and bedrooms so the aroma will be present in every room in the house. Fresh towels and soap in bathrooms will give off a fresh scent.

If you have pets, put them away and clean their areas. People who are allergic or afraid of pets may be turned off to the home because of the presence of pets.

Have as few distractions as possible during your for sale by owner open house.

Arrange for your children to visit a neighbor or friend so you can give your full attention to showing the home.

Do not turn on the television as this can also distract buyers from the showing.

Never apologize for anything in the home during the for sale by owner open house.

Before the start of the for sale by owner open house, you should gather a few essentials. Prepare a guest book in which buyers can write their contact information. You can use this guest book to keep notes of the buyers that show interest so you can contact them later on.

Blank sales contracts are necessary because someone might want to buy your home during the for sale by owner open house. You can purchase real estate sales contracts from a major office supply store like Office Depot or Office Max.

Finally, prepare a flyer that buyers can take with them. Include a photo of the home, facts about the home, the listing price, and your contact information. If you have a web page advertising your home, be sure to include the web address.

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Author: Scott Hubbard

Looking for a home online is a great tool for any homebuyer. The Internet is a great place for Do-It-Yourselfers. However, there are some pitfalls that come with the territory. For instance, there thousands of properties for sale in most cities and only a fraction that will meet your needs.

Weeding through hundreds of potential candidates can be a monumental waste of time. So, how do you narrow down the long list?

Make a List

I always suggest my clients make a list of those things you would find in your Dream Home. Include all the amenities you want and do not hold back! Do not forget location. Proximity to schools, shopping, and work are very important too. What about type of construction, would you prefer block/brick or wood and stucco. Do you prefer single or multiple levels? Do you want a pool? Remember, the key is to be VERY specific.

Consult with a Lender

Second, you need to decide on a price range. This is the area of great importance and should not be skipped. Pre-qualifying for a loan is necessary prior to entering into a purchase contract. If you are not sure on the loan amount you will qualify, contact a Long Mortgage Officer. In many cases, the loan officer can pre-qualify you in just ten minutes and there is no obligation!

Ready, Set, Search!

Finally, you are ready to begin your search. Start your online search here at http://realtor.com o your favorite real estate site. Once there, fill out the form with all the criteria in your Dream Home list. Be sure to include the pre-qualified loan amount with a 15 percent floor and ceiling. That is to say, if you're qualified for a loan up to $100K, then your low price range should be $85K and your upper limit should be $115K. Using this technique will include those properties that are under-valued as well as over-priced. You want to be able to get the most for your money, right?

Evaluate Your Results

After you run your first search, you will want to evaluate your results. For instance, if you did not get any properties in your search, you may want to remove the least important amenities. That white picket fence might be too limited in available properties. Or, perhaps you have hundreds of properties and need to narrow the list. Well, perhaps narrowing your search to a more specific location like a zip code, or adding more amentias may work as well.

User Error

Don't beat yourself up if you are having difficulties. With just a phone call, I will personally walk you through your search. Once entered, you can save your search. That way, you have only to enter the information once.

The Finalists!

After all this, you should, in my experience, have five to twenty-five properties. If you have only five, you are ready to begin scheduling your showings. If you have 25, you may want to narrow your results even more. Viewing twenty-five properties does not sound like much, but take it from me, all the properties begin to blend together after seven or eight. Then, you have to make multiple trips to the same properties and then the twenty-five begins to multiply exponentially.

About the Author:
Article courtesey of Scott James Hubbard - A Tucson, Arizona REALTOR® Tucson Real Estate

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Author: Tyler Fawcett

For many years the act of investing in rental properties has been making people rich. Real estate investment is a booming business and owning rental properties is the safest way of increasing your equity and wealth. However, it can be a daunting task to be a landlord so you should ask yourself if you have what it takes. Will you be able to remove tenants that are truant in their payments or are misusing the home? It can be a hard thing to do, but it is necessary.

Now the question arises of finding a good home to invest in. The best way to go about this is by starting with some research. The first thing you should think about is what kind of renters you are looking for. This will be dependant on the area you choose to buy in, and the price that you can expect in rent. Finding a home with many bedrooms and washrooms will be perfect because it will be attractive to renters. Also if you are looking for long-term renters, proximity to schools and amenities is a must.

Once you have found a good rental property, spend a bit of time and money on it. Put some new paint on the walls and upgrade the floors. If there is carpet on the floors it might be a good idea to change it to a laminate floor as it is easier to keep clean and harder to damage permanently. Laminate will also hold up to high traffic better than a carpet floor. If the appliances are outdated, replace them with newer models, this will make your home easier to market to the rental community. try to create an environment that you yourself would feel comfortable living in, your renters will appreciate it.

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Author: Tyler Fawcett

These are some great ways to improve the value of your home, whether you are selling it or just seeking to infuse some new life into it. Interior renovations do not need to be the daunting "tear out a room" experience that many people think of when renovations are mentioned. There are many smaller and simpler ways to improve the visual impact of your home. And, if the time comes that you choose to sell the home, you will realize a greater profit if some of the following are observed.

1. Hardwood or Laminate Flooring - Both hardwood and laminate flooring is extremely popular right now and looks to be for quite some time. It is much easier to keep clean than carpet and adds thousands to the value of your home.

2. Tile Accents - Tiling in rooms like the bathroom and kitchen as opposed to linoleum is not only visually impressive, but easier to keep clean. Also tile accents around the fireplace and front door are a great touch. If you don't have a fireplace add a small "firebox," these are beautiful little all in one fireplaces that simply plug into the wall.

3. Decks & Porches - Is the old deck a little run down? If so maybe its time for a resurfacing and a coat of paint. Decks and porches are a huge selling feature so they should be in tip top shape. If the deck is wood, a good power washing will do wonders for its appearance, after that, re-varnish and seal it to protect the wood.

4. Paint - This can apply to both the interior and exterior. If any of the rooms in your home a feeling a little drab, why not spice them up with some new paint. Its a good idea to not be too adventurous with the colors if you are planning to sell the home, in this case neutral colors are best. On the exterior, new paint can make a world of difference. The right paint job can take years off the appearance of a home.

5. Landscaping - Landscaping it vital to the appearance of your home. If there age bushes and trees in front of your home, are they hiding it too much? Could the gardens use a little TLC? There are few things that can make a home more inviting than a well manicured yard.

6. General Cleanliness - This is one of the most important factors in the curb appeal of your home. A cluttered and untidy yard can cause potential buyers to move right past your home if the curb appeal is not up to par. You want people to be drawn into your home, to take notice and want to see more.

These things should be of great help in increasing your homes value, for sale or just for your own pleasure. Don't forget that doing these things to your home will only improve the value of your investment in the long run.

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Author: Tyler Fawcett

There are so many realtors working in any given real estate market, how can you be sure that you have the right one? Selling your home is a huge undertaking and it requires both time and professionalism. Here are a few things that you can ask your prospective realtor to ensure that you are getting the best possible representation in the market.

1. Are you a full time realtor? This is important because selling your home is a full time job. You need a representative that can dedicate their full attention to the task at hand.

2. Are you always available? This goes hand in hand with #1. A dedicated realtor will always be available to field questions about your property and to show off your home. The real estate market runs 24/7, so should your realtor.

3. What's your track record like? One of the best indications of the ability of a realtor is how many homes they have sold. This is also a good indication of how much effort your realtor is willing to put into a given project.

4. What's the marketing plan for my home? This is definitely an area that you should spend some time researching. In real estate, marketing is one of the single most important aspects of the home sale. A good realtor will cover all of the primary media outlets that are available. Full color newspaper ads, open houses and a web site are essential.

5. What kind of web presence do you have? In today's real estate market the importance of a solid web presence cannot be stressed enough. Most buyers will look on the internet long before they start visiting homes and you want your home to be easily accessible on the web.

6. Do you work with a team? Agents that utilize teams have some distinct advantages in that more people and hours can be dedicated to the selling of your property. Also, people can be reached to answer questions and relay information about your home at all hours. Many teams also have buyers agents as members, this can help in bringing more potential buyers to your home.

7. References. Never be afraid to ask your realtor for references. Nothing will speak more highly of their abilities than the testimonials of happy and satisfied customers. If they are hesitant to give references, you should be hesitant to give them your business.

The real estate business is a high stakes game. What's on the line? Your home. You should always be comfortable and completely confidant in the ability of your realtor to help you realize the best possible profit when you sell your home. Take some time and do your homework when choosing someone to sell your home. It's likely one of the most important transactions you will ever be involved in.

Author: John Harris

At the beginning of 2006, the so named real estate "bubble" across the nation was leaking air. We read opposing views by economists, whose opinions graced the pages of national media and were dependent upon which economic theory they followed. It was difficult to know whom to believe. It is now 2007, and we know in most areas the real estate market is considered to be in a recession.

A national economic recession occurs when the gross national product declines by five-to-ten percent over a six-month period. Residential real estate prices have dropped double digit percent points since the beginning of 2006 and inventories of used homes listed for sale doubled between 2004 and 2005, then again between 2005 and 2006.

The News Isn't All Bad
Real estate is only a part of the gross national product, and the Federal Reserve helped curb inflation by raising the interest rate in 2006. Overall National business activity has increased in the past year, and unemployment is fairing well, remaining at 4.5 percent. New jobs totaling 167,000 were added in December 2006. The gross national product has not declined and the national economy is in very good shape.

So, what does this mean to the sellers and buyers of residential real estate? It means business is back to normal, before the real estate "bubble" inflated so to speak — with some roadblocks to navigate.

Less Available Money
First, all the money that was being invested into real estate during the boom has been diverted into other non-real estate investment opportunities. This means that money once invested in mortgage-backed securities is diminishing.

Additionally, large mortgage lenders are receiving more federal oversight scrutiny for lending practices used during the latest real estate boom. They continually raised the lending limits to control the market (or so a few of these lenders are accused), making mortgage access much too easy. Many of those, who took loans at only 20 percent-to-nothing down (called leveraging), now are losing their homes and defaulting on their mortgages. Even if these owners could sell their homes, afterwards, they would still owe much on the balance of the mortgage. They are being hit the hardest with default rates doubling in both 2005 and 2006, and expected to continue throughout 2007. This, too, has hit the mortgage lending industry where it hurts the most — profits.

Buyers will have a more difficult time securing a mortgage than during the real estate boom, when just about anyone with any type of credit rating was approved. Less mortgage availability means less potential buyers for the home sellers, too.

Before looking for new residential real estate, secure your financing first. Not only are you then confident in looking at property, but also you know exactly what you can afford.

For sellers, ensure your realtor asks potential buyers if they have secured financing. Those that have, even if their offer is a bit lower, may be more attractive buyers than those who have not. You decide which offer to accept. This is especially important, if you are in a hurry to close.

Prices at Practical Levels
During the real estate boom, home values rose by almost 500 percent between 1990 and 2005. Now, they are back to practical levels.

For sellers, who purchased their homes by leveraging, they may have to take a loss or wait out the current market for better times. All sellers face a lot of competition from other homeowners wishing to sell. Some creative staging of their property (inside and out), as well as adding incentives to buyers, can make their residential real estate for sale stand out among the rest. Some Realtors have found success placing the asking price right on the "for sale" sign. Others have taken advertising and marketing into the 21st century by creating specific web sites with a gallery of interior and exterior photos of the home1 . Many Realtors believe in promoting the home for sale through the media by giving the asking price (especially when it is a great deal) — buyers are more apt to be interested, when they know they can afford it. Sellers were in the lead negotiating seat during the real estate boom. They must accept that, though they still have negotiation power, they have relinquished the lead seat to the buyers. This makes a realtor invaluable to both sellers and buyers, alike.

For the buyers, you will get much better real estate deals now. You can take more time to decide and make an offer than during the boom. Secure your financing first, hire a realtor and enjoy the hunt.

1 Ensure no valuables are in the photos. You wish to attract potential buyers — not thieves.

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Author: John Harris

We all have heard of both good and bad opinions about homeowner associations (HOAs) from the people who have to deal with them as a resident right down to newspaper articles.

One case in Jupiter, Florida, between resident George Andres and his development's HOA went to Appeals Court over his having a flagpole and flag in his front yard. An ex-marine and right after the violent 9-11 attack, he erected a 13-foot flagpole in his front yard. Unfortunately, the HOA had changed the rules before 9-11 and the flagpole and flag were in violation. The patriotic resident lost his case in lower court and appealed. The HOA even attempted a forced foreclosure on his home in 2005 in order to pay for more than $20,000 in attorney fees, but the Appeals Court ruled against them, according to The Sun Sentinel. The case brought so much attention that the Florida legislature passed a law to allow residents to fly their flags, regardless of HOA rules.

Reading about such a case is enough to make you cringe over even considering homes for sale in a development with an HOA. Yet, an HOA can be the best thing for buyers of homes for sale. HOA's can ensure that the value of your home and the ambience of its environment are maintained, and can provide much desired services to buyers of homes for sale governed by HOAs.

Since the late 1990s, 80 percent of the homes for sale built are part of an HOA. During the building of a residential housing development, developers are responsible for the exterior upkeep to ensure the development attracts new buyers for the homes for sale. Otherwise, they could lose money on their investment.

When it is time to turn responsibility for the exterior upkeep over to the residents, the developer and his/her attorney draw up the organization for an HOA. The developer appoints the first HOA president, vice president, secretary and treasurer, looking for a representative cross-section of resident volunteers. In practice, it is often those residents that have the time and volunteer for the positions, rather than those with actual management and/or people skills. After the first appointments by the developer, the HOA membership vote on all subsequent board members.

Board members oversee the HOA, while a management company handles the day-to-day operations. It is the board, however, that rules on violation fines, can bring a court case, or generally make your life in the development either a great one or a miserable one.

In most HOA developments, membership generally is not an option; so, buyers of homes for sale should know as much about the HOA as possible before making a purchase. Homes for sale sellers are required by law to disclose this information to potential homes for sale buyers.

Here are some things for which to look for and investigate before buying the HOA homes for sale:

• What does the HOA do for you, the soon-to-be owner. In their development?

It is important to read all of the rules/covenants governing homes for sale before buying. — do not accept a seller's explanation. Go to the HOA office and ask for a copy of their membership contract. Have your attorney review the contract, and make your offer on any home for sale contingent upon your acceptance of the HOA membership.

What HOAs cover for the exterior differs widely between associations. Some maintain only the streets and common grounds areas. Some insure the roof, windows, siding, gates and fences of resident homes — some only under certain storm conditions.

Not only do you need to know what the HOA will do for the homes for sale, the homeowner insurance carrier will need to know, as well. If you need to insure only from the walls in of any homes for sale, with the siding out being insured by the HOA, your premiums and responsibilities will be much less.

• Second, you need to know your responsibilities as a member of the HOA. What rules will govern (and possibly restrict) your lifestyle and comfortable living in this home for sale?

Imagine purchasing one of any homes for sale, where it s strictly forbidden to park on the street. If this home had only two parking spaces that were being used by yours and your spouse's cars, what room might be left for visitors? This happen to one individual. He had to park in an overflow area. The problem was that the overflow parking was several blocks away from his unit and had only a couple spaces. The large overflow parking area was in driving (not walking) distance. Throwing a party in their home was out of the question; even a big family get-together could not be held there. They eventually sold the home for one in a more accommodating development — similar rules but closer and larger overflow parking areas.

It is important to have the value of your home and its surrounding ambience protected; however, buyers of homes for sale need to ensure their lifestyles will not be overly restricted by HOA rules.

• Other items to know before buying —
o How much are the membership dues?
o How often does the HOA meet and where?
o What is the length of board members' tenure?
o What can be done to remove a board member and for what reasons?
o How are the rules/covenants changed and how often has this occurred?
o Have court cases been brought by the HOA or residents against the HOA? If yes, what were the issues and their resolutions?

Most HOAs are a welcome feature for buyers of a homes for sale. Those buyers who most desire an HOA, are people who travel, single people, those wishing to keep the current exterior standard of ambience and their homes value in tact, and those who seek outside amenities with little-to-no maintenance or upkeep.

So, when looking at homes for sales in HOA developments, be a smart buyer. Know what information you want from the HOA ahead of time, involve your attorney, and make your offer for any of the homes for sale contingent upon your acceptance of the HOA membership.

About the Author:

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Author: Ben Hirsh

By now your real estate business has gotten off the ground and you are feeling pretty successful compared to when you first began. You may have started considering some things that will help your business to grow even more. "Get New Clients" is more than likely on this list of things. You put your referral marking program into practice a few months ago, but you would still like to generate more business. It is possible to increase the reach of your referral marketing program to bring in more customers to boost your business.

Referral marketing is ineffective if past clients forget about the services you provided. This is very easy for them to do. People get wrapped up in their own lives. Once they get settled back into their routine, many people forget about the great service they receive six months ago. Give your referral marketing a boost by contacting past clients. Remind people that you are still out there. You can give previous clients a phone call or send a card or email. Just contact them to see how they are doing and remind them to remind others about your service. You should not let more than three months pass without making some kind of contact with past clients.

You know that your referral marketing program is in place to benefit you. Why else would it be in place? What you probably don't realize is that most clients don't refer you for your benefit. In fact the reason they refer your services is for the benefit of the person to whom they refer you. People like to know that they can be a hero. When someone they know is in need of real estate services, they make a referral because it makes them look good. Keeping this fact in mind will help as you think about your referral marketing.

Have you been thanking the clients that have been referring others to you? Part of your referral marketing program should be to thank those clients that have referred others to your business. As a general rule, you should thank people three times for a referral. The first time should be verbally. You should thank the person at the time of the referral and after you have made contact with the prospect. Later you should thank the client in writing for the referral. Lastly, a small token of appreciation should be given once you have closed a deal with the referral. Referral marketing works well when you give thanks to your active referral sources. This encourages them to refer others.

If you have recently added a new service to your business make sure that past clients know about this service. The maximum effectiveness of referral marketing is achieved when clients are fully aware of how others can benefit from your services. When you change something about your services make sure that clients know this so they are abreast of how you can benefit customers. If you are worried about seeming superficial or selfish, first ask the client about their life. Then follow up with some words about what you are doing. You don't have to act as a full-fledged sales person for your referral marketing strategy to fully work.

Referral marketing – 10

Ben Hirsh is the owner of the Ben Hirsh Real Estate Group and an expert on Woodstock GA real estate . His unique website features a helpful sellers page where he explains what he can do as your Woodstock GA listing agent to sell your home. The site also features a Woodstock GA MLS search, Search where home sellers can study other homes on the market

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Author: Geri Mason

Once the buyer signs the sales contract, you might feel the urge to relax. Don't sit back and kick your feet up just yet.

(there is a free ebook: 101 Tips For Selling Your House,for you to download, from a link at the bottom of this page).

Your work is not complete just yet. The buyer can still back out of the deal if certain things go wrong in these last steps of the for sale by owner process.

Buyers tend to get cold feet at this point. They see other for sale by owner homes they like for a lower price. You have to take steps to make sure the buyer doesn't back out of the deal.

After the for sale by owner sales contract has been signed, the buyer's lender will have an appraisal done to ensure that the borrower isn't asking for more money than your home is actually worth.

The lender will not provide a loan if the home is appraised for less than the sale price.

You can avoid this by having your own appraisal done when you are setting your price in the for sale by owner process. Alternatively, you can make sure that your price is comparable to that of similar homes sold in your neighborhood.

The lender might have your for sale by owner land surveyed to establish the property boundaries.

In most cases, this doesn't present a problem.

If your for sale by owner property has not been surveyed in the last 50 years, has recently been subdivided between other people, or has a boundary that changes like a creek, then you should pay attention during this part of the process.

The buyer might have his own inspections done as allowed by the sales contract.

These inspections are done at the buyer's expense and include termite, roof, and general inspection.

Be available during the inspection. Ask questions about anything you do not understand.


The for sale by owner closing date will be about 30 to 45 days from the date the sales contract is signed.

Depending on your state, your real estate attorney might handle the closing.

Alternatively, the lender's attorney might handle it and your attorney will act as your representative.

At the for sale by owner closing, the settlement statement is reviewed. This statement details the money received.

This includes: the lender's check for the mortgage amount, buyer's down payment, and the buyer's earnest money deposit.

The settlement statement also includes money that must be paid out: balance on the seller's current mortgage, real estate agent fees (if applicable), and closing costs.

Finally, the statement will detail the amount you get to keep.

The title to the house is then transferred to the buyer and the process is complete. Your hard work has paid off.

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Author: Maximus Mejo

Hiring a real estate attorney is one of the most significant decisions to consider when getting started with real estate investments. The right attorney would keep you on track and would reduce your liability in your real estate investments. Do not start investing in real estate market until your paper work is state-specific. It is as well significant of keeping knowledge about the latest court decisions regarding real estate.

Once you select two or three real estate investment attorney from a list you could get from www.law.com, if you are hiring a real estate attorney remember he should be a winner, or at least won the majority of the time.

Questions to ask a potential Attorney?

What experience do you have in real estate investing?
First you need to ask him, what is the knowledge he have in the real estate investing? The attorney needs to be open to and understand real estate market and creative real estate investing. This is very significant in making your actual final decision in real estate investment. The real estate attorney needs to be attentive to your requirements; he should let you discuss your method of investing then responds in a forthright manner.

How much of your perform is in real estate?
Depending on your market size it must be at least 40% to 60%. In smaller markets there will be less want for an attorney to dedicate all their practice to real estate. Five years of real estate law experience will be the minimum satisfactory.

Do you have other real estate investors as clients?
If so, ask if you could contact them for further references.

What are your fees?
The size of the law firm is not a significant factor except larger firms regularly charge even more as of their slide and are not as accessible to you as a smaller firm. The price the attorney charges are not as significant as how well he works for you, with you and gets your job done. The old saying you get what you pay for applies here.

Do you work with any other real estate professionals?
The attorney needs to be recommended and refer you to few other professionals as well such as CPAs, mortgage Brokers, (for refinances), etc. These are a few things to look for before investing in real estate investing.


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