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Real Estate Investment Tips For 2008

If you have come across recent real estate market predictions and are contemplating whether you should venture in to it, then think again. You must know that the real estate market keeps on fluctuating constantly and there is no time of the year when you cannot find great properties for investing your money. There are few useful tips that you can follow for increasing your chances of success in the real estate market.

All around the world you can find great investment property markets. The best thing about these markets is that, the initial investment required in a short turn around time is very low. Generally, there has been some slowing down in the real estate markets of UK, America, Australia and Europe but more highly profitable real estate markets are emerging in other parts of the world too. In case you are not sure about things, it is highly recommended to ask an expert for some good advice.

There are a few things that should be done only by professionals because they can not only help you check whether an investment property is structurally sound or not but they also have a better understanding of the legal renting and purchasing aspects of real estate properties. So in case of any doubts, get in contact with a real estate professional so that your queries are solved.

One of the most common mistakes made by many real estate investors is their budget. They either overspend or don’t set aside enough money that later leads to chaos. Always remember that when you buy any real estate property and want to get some renovations done, it is essential to ensure that the entire expected cost fits your budget. You must also be ready for some extra fees that come along like accounting fee, legal fee, insurance cost, real estate agency fee, utilities and taxation.

It is never too late to venture into the real estate investment field. You just need to make the right moves at the right time if you don’t want to lose your hard earned money due to one wrong decision. Some of the investment tips for 2008 could be:

Investment in properties abroad:

All over the world there are numerous untapped property markets, offering the investors great investment returns in the form of short term to medium term capital growth and rental yields. With the slowing down of property markets in Australia, UK, Europe and USA, globally several markets are emerging where an investor can reap huge profits.

Making profitable plans:

It is very important to ensure that the plans for investment you are making will bring back profit in the long run. You must examine a real estate market well before investing. Compare the value of the property across that county or city and determine whether what you are getting is worth your money. Also take in to account the rental yield you want to obtain from it and if it is realistic or not.

Never waste time in assuming a property as being structurally sound or thinking that there won’t be any significant changes in the tax laws for a year.

Concierge Auctions To Present Historic Tulip Hill Estate in Harwood, Maryland at Auction on April 10

Concierge Auctions To Present Historic Tulip Hill Estate in Harwood, Maryland at Auction on April 10
Concierge Auctions will host a luxury real estate auction of the historic Tulip Hill estate in Harwood, Maryland on April 10. Â Previously offered to $7.5 million, the property is selling with a suggested opening bid of $1.65 million. Â The sale is being conducted in cooperation with Gary Gestson, a certified Historic Property Specialist with Long & Foster Real Estate.

Read more on PR Newswire via Yahoo! Finance

Smooth Sailing for Northeast Philadelphia Real Estate

Early signs look as if 2008 will be a solid year for the Northeast Philadelphia real estate market. Low interest rates and media accounts of a trepid market have many buyers considering a new home purchase in 2008. Sellers, who have suffered through a lackluster fall and winter can look forward to this increase in buyer interest. While the pendulum still looks to be on the buyerâ??s side, a combination of factors will allow for a smooth transition into the spring market.

For home buyers with good credit, borrowing money is as cheap as it has been in years. Interest Rates on a 30 Year Fixed mortgage continue to hover not far off of 40 year historic lows. Even borrowers with not so perfect credit or limited down payment money are finding FHA mortgages are still allowing them to realize their dream of home ownership. While the days of buyers being able to buy a home with 100% financing may be over for the foreseeable future, FHAâ??s 3% of the purchase price requirement and lower mortgage insurance than Fannie Mae and Freddie Mac still mean a large number of buyers will be able to get into their first home fairly easily.

Northeast Philadelphia continues to be an excellent value for 1st time buyers as well as trade-up and downsizing home buyers. With a wide variety of home choices ranging from under $100,000 to over $500,000 or more, the Northeast offers something for everyone regardless of their stage in life. The vast majority of home sales in the Northeast occur in the $150,000 to $250,000 price range. Buyerâ??s can choose from rowhouses, twins, condos, and singles.

The majority of home buyers in Northeast Philadelphia tend to be 1st time buyers. This makes the Northeast the lifeblood of the entire Philadelphia Real Estate Market. In order for a seller to trade up to a new or bigger home they often must first sell their existing home to cash out the equity. Philadelphians moving up to high end homes sometimes have a daisy chain of 3 or 4 levels of contingent sales in order to get into their new home. It all traces back to that original $100,000 to $150,000 transaction in Wissinoming or Mayfair. A robust Northeast Philadelphia real estate market translates to overall robust Philadelphia and Suburban homes sales.

Media reports and a slower winter sales season have caused sellers to be more willing to negotiate over price. The days of putting a home on the market and having multiple offers within a few days will not return in the near future. Instead, realistic pricing and good home prep will be the key to getting a home sold within a month or two of it being put on the market. Reasonable sellers that put a little elbow grease into getting their home ready should have little fear of the home not selling. While no one can predict the future, I am quite optimistic that 2008 will be a solid year for the Northeast Philly Real estate market.

Pair of tech ‘gazelles’ may point the way to the future

Pair of tech ‘gazelles’ may point the way to the future
By MICHAEL POLLICK Economic development officers dream about finding companies like IntegraClick and Star2Star. Both grew up in Southwest Florida. Both have now landed in the spotlight at a time when the region is hungry for new jobs.

Read more on The Sarasota Herald-Tribune

Real Estate Isn’t Brain Surgery, or is It?

Austin REALTOR® reports on his experience assisting a 29 year old Austin Texas wife and mother of two sell and purchase a home just days after brain surgery.  The client is admitted to the crash trauma unit at a local Austin Texas hospital immediately after closing on the purchase of her new home.

Body: What Does Brain Surgery and Real Estate Have in Common?  For April Henry, a 29 year old wife and mother of two based in Austin Texas, they have everything in common.    On Thursday, July 24th, 2008 April went under the knife of an elite neurosurgeon in New York City for a rare condition where her brain stem was sinking into her spinal canal, causing a myriad of problems such as heart arrhythmia, difficulty walking & breathing, reduced ability to â??feelâ? in the upper extremities, and extreme pain throughout her body.  A short two weeks later with an unexpected infection causing April fever and uncomfortable swelling around her head, April would be carefully and very reluctantly escorted by her husband to a title company in northwest Austin Texas to close on the sale of their home followed by a visit to another title company the same day to close on the purchase of a new home, all before driving to the emergency room.

All of her life April has been physically active and athletic, enjoying activities such as snow skiing when on vacation and other outdoor activities prevalent with the Austin Texas lifestyle and environment.  But due to Aprilâ??s diagnosis of Classical Type Ehlers Danlos Syndrome and Chiari I Malformation in early 2008, April learned that she has a condition that just about ensures her a long list of debilitating symptoms and along with it, an uncertain fate.  At best April would experience the continuation of the painful degeneration of her motor faculties and at worst; she was at risk of paralysis or sudden death.  The best solution to her ails would be neurosurgery, a posterior fossa decompression and a cervical fusion to create separation between her skull and spine, which would relieve the pressure built up in her spinal canal due to her sinking brain stem. 

The Henryâ??s decided early in the summer 2008 to hire an Austin REALTOR® to sell their northwest Austin home in Spicewood Estates and to relocate to a home nearby to accommodate their need for more space, a single level foundation, and a newer home requiring less ongoing maintenance and repair.  Their existing house was livable, but the house was over 20 years old and required systematic improvements to be conducted to keep it in good living condition.  The house also had a foundation with different levels where April had to go up and down steps to get from one room to another.  The backyard was small and with their two highly energetic boys Jack (4 years old) and Luke (3 years old) getting older, everyone would benefit from more play space inside the house and in the back yard. 

At the time the Henryâ??s decided to sell their home they already knew that April needed to have surgery for her recently diagnosed condition, but they fully intended to get the sale, purchase, and move completed before the procedure, which was not scheduled yet.  So on June 5th the Henryâ??s had Brian Talley place their home on the market priced at $320,000, a price consistent with the tax value of the home.  While the Henryâ??s wanted to get the highest value possible for their home, they also wanted a fast sale given the circumstances.  Since they owned the home for 6 years since September 2002, the Henryâ??s would enjoy significant appreciation on their sale even if they were forced to sell at a below market price.

Once the house was placed on the market there were dozens of buyer tours, but no contracts.  Feedback from buyers and REALTORS ® had shown that the small backyard and the steps from one room to another in the house were turning buyers away.  At the same time the Henryâ??s were conducting an Austin home search to find a new home, which they found nearby and were able to place under contract contingent on the sale of their existing home. The Henryâ??s quickly lowered their sale price after 21 days to $304,000 on June 25th and then to $299,000 on July 19th in order to boost the affordability of their home and increase their chances of a quick sale.  Getting the price below the $300,000 threshold did the trick and on July 24th the house went under contract with a target close date of August 7th, just a short two weeks later!  While the Henryâ??s were ecstatic about getting the house sold and having the other house under contract, the timing couldnâ??t have been worse.

By the time July had rolled around Aprilâ??s condition had progressively deteriorated and her pain was worse than ever.  She received a much anticipated call from her neurosurgeon with a proposed date for her surgery, July 24th.  April didnâ??t know it at the time, but the date that her surgery was scheduled would be the same day her house would go under contract!  Furthermore, with a short two week close date on the sale of her home, April would still be recovering from her surgery when she would have to move out of her home and into the new one.

On Friday, August 1st April returned from New York City to begin her recovery from surgery at home.  A short 6 days later April would be escorted by her husband Paul to a 9am closing appointment to finalize the sale of their home and then on to a 1pm closing appointment to finalize the purchase of their new home.  The problem was that on the evening before closing, April was running a fever and had swelling around her head.  These symptoms indicated an infection, which could be bacterial meningitis in a worst case scenario.  The problem was that April had planned to attend closing in person, and it was now too late for April to provide her husband with power of attorney to sign the closing documents on her behalf.  Aprilâ??s husband was adamant that they delay closing in order to take April directly to the hospital, but April insisted that they attend closing before she subject herself to another long hospital stay. So on Thursday morning August 7th April and her husband Paul attended the 9am closing together and completed the sale of their home.  April was still feverish and not feeling well, but she was intent on making it to the 1pm closing of their new home before driving to the hospital emergency room.  April made it to the 1pm closing and as a result, was able to trigger the process by which her friends, family and hired labor helped pack up and move the Henryâ??s from one house to the other. 

April was admitted to the crash trauma unit at the local Breckenridge hospital immediately following the 1pm closing and it was confirmed that she did in fact have an infection in the area of her brain surgery.  After a night in the crash trauma unit they moved her into critical care for two days followed by two more days on the neurosurgery floor.  Fortunately, it did not turn out to be bacterial meningitis, which can lead to sudden death.  April stayed in the hospital for a total of 5 days until the infection had subsided and she was cleared to leave.  She arrived at her new home on Tuesday, August 12th, which had been unpacked and organized for the most part by her husband and friends.

While timing could not have been worse for her surgery, it couldnâ??t have been better for her post surgery life.  April and her family now have a new spacious home to enjoy, which will better accommodate her ability to get around the house with ease.  It was a painful and stressful process for April to sell and buy a home; all while suffering through physical pain from her condition, the challenges of surgery, and the post surgery recovery process.  April attributes her ability to endure through these challenges to her faith in God and to the support she has received from family and friends. 

Florida Real Estate Remains “On Sale” With Sellers Slashing Prices by More Than 10 Percent According to ZipRealty

Florida Real Estate Remains “On Sale” With Sellers Slashing Prices by More Than 10 Percent According to ZipRealty
EMERYVILLE, CA–(Marketwire – March 8, 2010) – Home hunters are finding deals in South Florida, with sellers in Miami and Ft. Lauderdale having reduced their list price by an average of nearly 15 percent, or $36,000 in February 2010. In addition, one out of every two “for sale” homes in Jacksonville included at least one price reduction in February, according to a monthly survey of home listings …

Read more on Marketwire