Archive for February, 2009
Texas Apartment Market Update ? May 2006
February 22nd, 2009 | 
Author: Texas Apartment Market Update ? May 2006
Although all major Texas markets posted decreases in average occupancy in May, occupancy remains above 90%PRCTG% in all four, with Austin recording the highest at 93.02%PRCTG%. The lowest occupancy was found in Dallas/Fort Worth at 90.18%PRCTG%.
Austin has the highest average rent per square foot as well, at %0.931 per square foot (psf); Dallas/Fort Worth posted the second highest at %0.868 psf. The strongest monthly absorption was found in San Antonio, which absorbed 243 units in May. Posting the weakest absorption figures in May was the Houston market, at -477 units. Austin apartment market occupancy decreased 0.36 points in May to 93.02%PRCTG%, but remains 1.64 points above last year?s
level. Average rents, currently at %0.931 psf, are %0.002 psf higher than last month and %0.003 psf higher than last year. Monthly absorption returned to positive territory, as 236 units were absorbed, bringing annual absorption to 3,709 units.
Dallas/Fort Worth apartment market occupancy was down 0.17 points over the month. Currently at 90.18%PRCTG%, occupancy is 1.46 points higher than this time last year. Average rents increased %0.001 psf to %0.868 psf, and are %0.005 psf higher than May 2005 levels. The market absorbed 216 units over the month; annual absorption now totals 13,468 units.
Houston apartment market occupancy fell 0.19 points over the month to 90.57%PRCTG%, but has gained 3.75 points since this time last year. Rental rates gained %0.001 psf in May and are up %0.026 psf over the year. Absorption over the month was -477 units; however, over-the-year absorption remains well in the black at 22,628 units.
San Antonio occupancy decreased 0.31 points to 91.38%PRCTG%, and is up 0.17 points over the year. Rental rates posted a decrease of %0.002 psf over the month, but are up %0.010 psf since May 2005. Absorption was positive for the fourth month in a row, at 243 units, while annual absorption stands at 3,792 units.
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Taking Title of Your New House
Taking Title of Your New House
How you take title in your new home is key decision. Unfortunately, in the euphoria of the moment, many new homeowners don?t put much thought into it.
Title
When purchasing a new home, you become the title owner of record. Essentially, this means you are listed in public records as the legal owner. This may sound like a simple concept, but how you?re classified as an owner can impact legal and tax issues. Here are some issues to consider when taking title.
Single Owner
If you are purchasing the property on your own, there is really only one title choice. Yep, you are going to be listed as the sole owner, to wit, in your own name. If you are investing in rental or commercial properties, you should speak with a lawyer about purchasing the properties through a limited liability company to limit potential liabilities.
Two or More Owners
If you?re married, many states require you to take title in a property as community property. In such states, you and a spouse are automatically considered to be joint owners regardless of any other factors. Community property title can have tremendous but macabre tax benefits. If one spouse dies, the living spouse gets a ?step up? basis for tax consequence and huge capital gains taxes. For instance, if you purchased a home for %200,000 and it is worth %400,000 when a spouse dies, the remaining spouse gets to figure any capital gains using %400,000 as the cost of the house instead of %200,000.
Joint Tenancy
In some states, spouses are not required to take community property title. Instead, they and any collection of two or more owners may take title in joint tenancy. The advantages of joint tenancy are twofold. First, you get the step up basis mentioned above. Second, title in the property automatically transfers to surviving owners upon the death of one owner. This means you get to avoid probate, an expensive and lengthy court process.
Taking Title
When buying a home, don?t just pick title willy- nilly. Take the time to explore the options in your state and pick the best one for you.
The Basics of Real Estate Investing
The Basics of Real Estate Investing
Real estate investing may not be everyone?s cup of tea, but some people who have already tried investing in real estate know that it can be highly profitable and lead to much better quality of life. There are several keys to making significant profits in real estate investing deals. And when the deals are profitable, you will certainly be well on your way to success.
For real estate investing newbies, don?t be afraid of the challenges and pitfalls you may encounter along the way. There is definitely a lot to learn, but in the long run after you have gained some experience, you?ll hopefully become a master at closing profitable real estate deals.
There are 5 core skills that are necessary for building a real estate investing business. These will be the key factors in creating a profitable real estate investment portfolio.
These are the 5 core skills of real estate investing:
1) You must learn when and where to find the right kind of sellers.
2) You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.
3) You must be able to quickly and accurately analyze each real estate investment deal so you?ll know exactly when to proceed and when to pull the plug.
4) You must become an expert in all areas of real estate investing and understand such terms as lease options, cash sales, wrap mortgages, short sales and other terminology common in the real estate investing trade.
5) You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.
Now is a great time to consider investing in real estate. There are great potential rewards and the effort you put forth can yield enormous monetary returns on your investment.
Your confidence level will grow when you?ve gained some experience and closed on your first few real estate deals. But, don’t stop there…
Continue to learn about real estate investing and to develop your investment skills. In a short time you may find yourself managing a profitable and growing portfolio of investment properties.
Continue to follow your real estate investing “game plan” and always keep an eye out for the hidden investment opportunities. The opportunities are definitely out there and with a little knowledge and desire can be yours for the taking. So, why not get started in what might be a new and exciting (and profitable) career today?
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Steps To Selling Your House And Property
Steps To Selling Your House And Property
1. Look at your home condition. This is the first step that will make you easier to get a buyer. Buyer or consumers always need a first impression. The physics of your home, inside or outside, is very important to make them contact you for the price. So, make sure you have a property that is clean, neat, and well-cared. Who want to buy a home with filthy condition? Repair the leakages and re-paint the walls will make your home even nicer and attractive.
2. Price your home. How much do you want to worth your home? Of course it depends on your home physics and external supports. External supports mean the neighborhood and public access. The more accessible and nicer neighborhood will definitely in demand and can be considered plus points for your home. Also in pricing your home, it is important to look at the market. How does the market say? Market can be a good step point to set your home price. As an additional tip, always open for negotiation! People like to bargain.
3. Advertise your home. Advertisement is always effective in getting consumers. Many ways to advertise your home:
a. Advertise your home on the newspaper. It requires extra budget, but it is worth lots of people to read your advertisement.
b. Put an announcement board or banner in front of your home. This will make everybody who crosses the street to know your sale and perhaps tell it to their relatives. The bigger the banner is the better.
c. Print lots of brochures or leaflets and disseminate it in public places. And do not make the information narrative; just a few pointers that has your home picture and contact number on it.
d. Tell your friends and relatives. This could be the easiest way to advertise your home. I personally do not prefer friend/relative-related consumers, but as long as they can give you a good price, why not? And also, friends and relatives are usually kind enough to help us to look for buyers. That?s what friends are for, right?
4. Use a broker service. Broker service will help you to market your home even better since they have lists of potential buyers. They are definitely the expert to help you in negotiating with buyers and basically arranging your home sale (from the first step). You can call them as the middleman. If you do not want to waste your time, you could just contact few brokers and ask for their services. The consequence is you have to share a certain percentage of your home selling price with them. So, if you do need to sell your home very soon, I would recommend this strategy.
Good luck in selling your home!