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Articles Archive for February 2006

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[28 Feb 2006 | No Comment | 307 views]

Warmer breezes, tulips blooming and open house signs are rituals of spring. The annual reawakening after the shorter days of winter aren’t always the best time to get a deal on a home. Mark Nash author of 1001 Tips for Buying and Selling a Home offers tips on why the dynamics of the residential spring market traditionally aren’t the optimal time to get the best price on a home. Plus he offers the best times to get a better deal in resort, lake, skiing and vacation locales.
Not everyone wants to move in winter, uproot children to a new school midway in the semester or that their landlord demands that their lease expires in May. These are some of the factors that build demand for spring real estate markets. With these factors converging and creating the largest pool of homebuyers each year, property sellers and real estate agents attempt to maximize …

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[28 Feb 2006 | No Comment | 319 views]

Are you interested in selling your home quickly? Have you tried or are currently attempting to sell a house without much success (be it unable to find a buyer or perhaps not reaching the target price range you were hoping to hit.)?
If you are having these kinds of problems, there are many reasons as to why you might not be having much success with your sale, but don’t despair as these obstacles can be overcome. To sell your home fast, you simply need to see things from the buyer’s point of view. The more you understand the wants and needs of home buyers, the better your marketing strategy will be.
The Smart Home Seller
A Smart Home Seller knows that, “first impressions are lasting impressions.” To market your home successfully doesn’t mean that the home must be overhauled with renovations or improvements, it simply means that the home must be prepared for …

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[28 Feb 2006 | No Comment | 337 views]

Houses, duplexes, apartments and condos are among the many ideas that come to mind when someone is considering buying or renting their next home. As interest rates and property taxes rise, along with other cost-of-living increases, many are looking for ways to save on their housing costs without sacrificing quality of life. Realtors trying to assist their clients, along with those shopping for a home, are often caught between budgetary realities and the hopes for finding a nicer home for a lower price. If you or a client of yours is in this situation, take heart! There is an often overlooked solution which we will briefly explore below.
Today’s Manufactured Homes offers appealing features and quality that don’t fit the stereotypes and images of older ‘mobile homes.’ Think for a moment. Site-builders today actually buy most items pre-built in a factory and then assemble them on site. This saves time and …

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[28 Feb 2006 | No Comment | 319 views]

Miami Preconstruction Real Estate investing is buying properties prior to their construction. For example, a condo that will be built in 2 years, you can put a small deposit to hold the condo and capture the appreciation during the 2 years, which is the time it takes for the condo to be built.
Why is Miami Preconstruction investing attractive to investors? No carrying costs during the 2 years till the condo is built. There is no mortgage, no taxes, and no expenses at all. Most of all, you do not need to manage tenants which can be a concern for Real Estateinvestors. Also, you do not need to qualify for mortgage. So, regardless of your credit history, developers will sell you a unit.
How to calculate your return on Miami Preconstruction Real Estate investing? If the condo for example priced at $500K, typically, in the Miami market, developer would require 20% deposit. …

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[28 Feb 2006 | No Comment | 319 views]

Let me explain. By picking up a house for “Free” I mean we bought a house with no money down and no mortgage liability.
It is in Sullivan County, NY. It appraised at $240,000 in May of 2005!
I know, a quarter of a million dollar house in New York, for free?
Don’t believe me? (See http://MotivatedSellersOnline.com/PL37182)
Here is how we did it and you can too!
The trick is to find someone with a pressing personal and/or financial problem that can be solved by getting rid of their property, a motivated seller, in other words. Example?
I once picked up a house in Coral Gables, Florida, from a man who needed to get rid of it as soon as possible as it was keeping him from relocating to Phoenix, Arizona to be near his mother whose health was rapidly deteriorating.
He had his house under contract 3 months earlier, but his buyer did not qualify for …

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[28 Feb 2006 | No Comment | 320 views]

The second home market is experiencing a boom time, 1/3 of all homes sold last year were for second homes. Many of these second homes were bought for investment also, to be rented or for tax benefits and appreciation. Many will be used as retirement residences in the future.
76 million baby boomers will retire in the next 15 years. The biggest number of boomers turned 50 this year and last, and at 50 years old, statistically people begin to shop for a retirement residence.
Where do boomers want to be in retirement? On a golf course? Although many do, most want to be in walkable communities, with shopping and dining options. Many want to return to school, and pursue educational interests they never had time for before.
Do boomers want McMansions? Although some do, most will not be able to afford larger homes in retirement and will opt for more communal living …

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[28 Feb 2006 | No Comment | 318 views]

The Compelling Facts…
What if… Just 5% of the Baby Boom Generation learned of a cost effectice way to own more than 1 home in retirement? 75 million boomers will retire over the next 15 years, 5% equals a demand of 250,000 condo hotel units per year, every year unitl 2020.
What if… you could buy a second home/condo, use it when you wanted, and a professional (hotel manager) optimized the rental income and minimized the expenses while you were not in residence? Would this be more desirable than the alternative of doing-it-yourself for at least 5% of the population?
What if… you could deduct several homes instead of just 1 or 2?
What if… you could say you have condos in Town & Country and on The Slopes & Shore? And all these condos cost you less than just one traditional second home?
What if… all these properties appreciated like your home has?
The Condo …

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[28 Feb 2006 | No Comment | 310 views]

The National Association of Realtors reported that nearly 1/3 of all homes sold in 2005 were second homes. A record number of second home sales, and 2006 is expected to be nearly as strong! So why are lenders so critical about second home lending? Often requiring higher rates, larger down payments and more diligent underwriting for second home buyers?
Second homes by nature require higher debt-to-income ratio allowances, because the buyer/borrower must be able to afford 2 homes. The taxes, insurance and maintenance that comes alongs with the privledge of multiple home ownership is considered additional risk.
Lenders beleive that if a buyer is going to default on a mortgage, they will default on a second home, and then their primary. So again they consider second homes more risky.
Second homes often have unique features, like unique design (log homes, unconventional floor plans) or unique locations. The location of second homes can make …

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[28 Feb 2006 | No Comment | 314 views]

“Welcome home Mr. Waun” said John, our doorman, as he directed Susan at the desk “Mr.& Mrs. Waun are some of our Inn owners” as we check into our second home.
As owners of a condo hotel, we enjoy our cottage/condo and all the luxury amenities of a 4-Star Lake Michigan resort hotel without any of the hassles of ownership, or rental. In fact, because of the rental income, we were able to buy a third home/condo hotel unit in Miami for the winter months too.
“We use our condo when we want, and the professional hotel management rents it out when we are not in residence. Every maintenance issue is handled, and the all utilities bills are all included in our monthly condo dues. Best of all we are get checks (based on room occupancy) to offset our mortgage and tax expenses” says Nick Wuest about his condo hotel ownership experience.
Condo …

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[28 Feb 2006 | No Comment | 319 views]

Seems like a dream, but many of today’s retirees who have embraced technology and new forms of second home ownership are living the dream.
By combining condo hotel and technology, many people are finding they can spend more time in the places they love, with less expense and more luxury.
Condo hotels are hotels that have been converted or built for individual ownership of the hotel rooms and suites as traditional condominium. A condo hotel unit offers the owner hassle free rental income when the owner is not in residence and personal luxury of maid service, valet, etc when in residence.
As technology evolves many of us are finding that the office is anywhere with WiFi and blackberry cellular service. So why not office in luxurious surroundings? On a beach or in a luxury hotel?
Will retirement be simply a free-range office space that is looks like a series of condo hotel suites? Many …