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3 Surefire Ways To Sell Your Homes On Steroids, While Other Investors Can’t Give Away Their Homes

So you need to sell your home?

This article is exactly what you need to do, to sell your home or create a bunch of leads of individuals, who are HOT prospects to buy your home.

Before, I share my 3 steroid ideas on selling your homes; you need to take a few simple steps…

PREPARATION

1. You need to locate and interview an aggressive Mortgage Broker, very knowledgeable, with a GREAT TRACK RECORD of closing deals, especially difficult ones.

I cannot stress enough the importance, of having a great broker on your power team. I own and run, the R.E.I.A. (real estate investor club / www.tcreia.com) in my area, so whenever I hear a member, say they got a difficult deal closed, I always make sure to inquire for an introduction, because this might be the broker who can get most of my deals funded.

Remember, you can sell a home ten times, if you can’t get the buyer funded by a mortgage company…who cares, your wasting your time.

2. You should make some effort in fixing the home up; even if it’s a hunker, I’d still get the lawn cut and maybe throw a coat of paint on the property. You’d be amazed at the improvement to even an ugly property, with a simple coat of paint on the front of the property.

3. Go to your local community financing office or local grant and home buyer bond office. For example in my area (South Florida and Palm Beach County), both counties run a FREE class for your buyers on becoming a first time home buyer and when they take the class, they then get a voucher from the county, giving them %10,000.00 toward the purchase of their first home. The best part is sometimes the loans are even forgiven, when certain criteria are met by the new homeowner.

LET’S DO SOME MARKETING ON STEROIDS

Let’s be frank, your going to have to be more aggressive, smarter and persistent than 99%PRCTG% of all your homes neighbors.

There’s no magic pill, but this has been working for both my students and me, for the last year, and we’re always testing and fine-tuning the system.

And I can tell you, that while every other investor, is sitting with their heads in their butts, my students and I are able to sell all of our properties, during one of the worst RE slowdowns in history, and this is in South Florida, one of the most depressed markets in the Country,

1. Buyer First System

Basically you create your own buyers. The best example would be converting a lifetime renter into the American Dream a homeowner. Just so happens, that while becoming the American Dream, they also end up buying your home.

Very simply, create a flyer or postcard, and market to communities of people who would be a great prospect to buy your home.

Who doesn’t want to be a homeowner in America? Nobody, that’s a stupid question, everyone wants to be a homeowner, and it’s bred into us as kids.

The real key is you must understand, that these individuals renting, most are under the impression they CAN’T get a mortgage. They might have tried in the past, and we’re shutdown and embarrassed, only to believe they would live the rest of their lives as a RENTER.

These are the best leads you can focus on, because it’s not a matter of IF they’ll buy your home, they will, the key is can you get them funded or is it the right house for them, financially affordable.

I must also share with you, this strategy will take some of your time and initiative, because their is hand holding involved, mortgage brokers, and helping them get any government help in First time homebuyer money.

2. Fish in some one else’s pond!

Go where the most prospects are for your home. I’ll give you some examples, you need to go where the most and the best prospects are to buy your home, assuming it’s a good deal (priced right, and there’s still built-in equity for your buyer).

If you have any contacts or a friend of a friend, now is the time for using it and your expectations are for these contacts to open doors for you, to their sphere of influence.

For Example, one of my students, Courtney, leveraged a contact he had, his cousin (she was a middle school teacher), and she introduced him into the schools, where it just happened that the schools are in the same area, that he was selling a great starter home.

He sold the home that he needed to the most, but then, once word spread of what he was able to do, the rest of the teachers came out of everywhere, wanting him to help them. He’s since helping the 1st teacher, sold another 5 homes, to 5 different teachers, earning him over %30,000.00 for this simple, leveraged relationship.

So what ponds can you fish in, with your marketing? Think about whom you know (friends, family members, and associates)?

BEST: Teachers, Cops, Firefighters, Government Employees, Bus Drivers, Department of Transportation. (These careers are loved by lenders, they mostly have good credit, and their income is basically guaranteed and very stable.)

GOOD: Large local employers: Supermarkets, Local telephone company (Bell South), Home Depot, Wal-Mart, etc.

3. Use the Internet…

You should definitely have an individual website for your property.

You can get a simple site built for under %100.00.

? Use www.elance.com or www.rentacoder.com : Two great sites, for getting your site created, they are both similar to EBay. You post an auction about your project (your home website), and then companies bid on your job, and you get to see samples of their work and read all their feedback, after you decided who wins your job, you choose a winner. Oh by the way, both of these services cost you nothing, their completely FREE. ? Take some pictures with a digital camera of your home and you’ll end up emailing them to the site designer, to post on your site. (good example, is www.735airoso.com) ? Treat this as an online, digital brochure, basically being able to do whatever you can conceive. ? You can take a video of the home, with you walking through the home and then have it placed on your site. If you’re intimidated by video, like I was at first, don’t be, because your web site designer can do it for you, very easily.

Now, when ever you talk to someone on the phone or in person, they can quickly look at your property, on the web. This will be the best %100.00 you’ll ever spend on marketing of your home.

4. BONUS: Promote and hold your own, “First Time Homebuyer Seminar”.

Before you say anything, I don’t expect you to be Tony Robbins, if you can get 10 to 15 people in a room, your going to be successful.

We shared this strategy with my mentoring students, and it’s been working excellent for them, from the results I’ve been receiving back from my future millionaires. In fact, one of my students from Miami, Alex, has been executing this strategy like gangbusters.

Before writing this article, I received permission from Alex to share some of his feedback with you, on the Homebuyer seminars that have been very successful for him.

He’s now doing 1 a month, every month. Also, since he’s has a few successfully under his belt, he’s now selling sponsorship space to his seminars, to Mortgage brokers, credit repair companies, and he’s even worked out a joint venture with two different realtors, whom pay him for every property they sell to one of his prospects.

If you’re curious how he’s filling the room, all he’s doing is as follows…

-Flyers in Parking lots, I.E. Wal-Mart, Publix Supermarkets, and local churches.

-Free Advertising on www.craigslist.com

-He uses bandit style signs on the side of the road, 18 x 24, corrugated plastic signs.

-He’s even put up a website that the attendees, can pre-register for the seminar. (Sorry, he didn’t want me giving out the site, for obvious reasons)

-He also is giving them an ethical bribe for attending the seminar; he gives them a few nooks and tapes just for making it to the event. The best part is he received the books for free on the internet, and he’s also allowed to give them away for free and even rebrand them as his own books.

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3 Tips to Staging the Inside of Your Home Like a Pro

Are you considering putting your house up for sale, but not sure where to start? Afraid it will take too long to sell, or that you won?t get the price you want? Think about ?staging? your home, or in other words, setting the scene for immediate buyer interest in your property.

To be really effective, you need to look at both the outside and the inside of your home. Here are 3 tips to get you started with the inside of your home:

1. De-clutter. This is one of the most important things you can do. It might be easier to think of de-cluttering like this ? you?re moving anyway, so why not start packing now?

Pack up everything you don?t need and store the boxes out of sight in the garage (or consider temporarily renting a small storage locker).

2. Organize your closets – put similar colors together, pants together, skirts together, shirts together etc. Why? Because it will make the closets look bigger. (Really.) An organized closet appears bigger, and you want your closets to look as spacious as possible.

3. Make your home look like a model. You want to de-personalize as much as possible so potential buyers can imagine themselves and their own belongings occupying the space in your house. That means minimizing ? putting away everything you don?t need or use. Clear off kitchen counters as much as possible ? stash all those appliances you don?t use, and put miscellaneous small clutter in a few attractive baskets or boxes

And the biggest tip of all? Imagine yourself as a potential buyer looking at your property for the very first time. What impressions are you getting? Would YOU buy your house? What would you like to see changed before you put an offer on your house?

And don?t worry about spending several thousand dollars to get your house ready to sell ? you?ll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.

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An alternative to using an estate agent to sell your property

Traditionally, anyone with a house to sell in the U.K. would use an Estate Agent. As they were ranked 2nd in a Radio 4 poll of ?least respected workers? (M.P.?s were 1st!), for many people they are seen as a necessary evil.

A small minority of people manage to sell their house privately by doing their own advertising and putting up their own For Sale board, but as their property does not appear in the Estate Agent?s press adverts or websites, this is very much a hit and miss affair.

Even when a sale is secured, the legal system in England & Wales means that until contracts are exchanged ? typically many weeks later ? the sale can fall through. In fact one in three agreed sales do not complete, meaning that the sale process has to start all over again.

For anyone relocating or emigrating this is frustrating and annoying as plans have to be put on hold. For people with financial difficulties or in danger of having their house repossessed, it can be very serious indeed.

A realistic alternative to Estate Agents

At last there is an alternative to using an Estate Agent. Using a specialist property-buying company offers the speed and certainty lacking if selling on the open market through an Estate Agent.

Companies like A Quick Sale (http://www.aquicksale.co.uk ) are now offering a service that more and more people see as a better alternative than waiting and hoping for an elusive buyer. They will normally make an offer to buy a property within a few days, completing at a date to suit you, so that people can move on with their lives.

So, what?s the catch? Well, the main one is that they will be looking to buy the property at a reduction from the open market value. How much of a reduction often depends on the type and size of property but is likely to be at least 10%PRCTG%.

The other thing to watch out for is that some of these companies charge an upfront valuation fee of several hundred pounds. Whilst this is usually refundable if you go ahead and sell to them, it is quite possible that their offer on your property will be unacceptable to you, leaving you out of pocket!

Questions to ask

If the speed and certainty of selling to a property-buying company appeals to you, what do you need to look out for?
Probably the first question to ask is ? will it cost me anything to get an offer on my property? A national house buying company featured on Watchdog last year after many complaints fro people who had paid a valuation fee and then offered much less than their property was worth.
(see http://www.bbc.co.uk/watchdog/reports/home/home_20051122_2.shtml)

You wouldn?t expect to pay an Estate Agent for a valuation, so why pay these companies?

The next question most people need answering is ? can I rely on this company? Can they fit around me? These companies should be asking you about your timescales and deadlines and tailoring a solution around these. Look carefully at their literature and website to see if they are flexible and offer a range of solutions. It is also a good idea to ask them for examples or testimonials from previous customers.

So, if you have a property to sell, before you call an Estate Agent, it might be worth checking out a couple of these companies who can offer you a quick sale.

Disclaimer:
All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

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Are FSBO’s Worth The Time & Effort?

Many people have asked whether or not FSBO’s are really worth the time and effort involved in the sale. The simple answer is, Yes! It stands to reason that the FSBO industry is based on some amount of success or else it would never have grown to the size it currently is. And the industry is growing in size every year. Part of the reason for this phenomena is the fact that home sellers are becoming more and more educated on the involved process and as such are demanding a level of service that many real estate agents are not willing to provide, or able to provide due to a high number of clients.

The resolution to this problem has been the education of sellers and the drive to eliminate the middle man. For years people were convinced the the only way to sell a home was to contact their local realtor and then wait for the offers. But what if that agent was not providing enough service to sell the home in a timely manner? Was there any real way to ensure that this was being done? It can be hard to trust someone in such a way when nothing appears to be happening. But you can trust yourself right? So, why not give yourself the tools you need to become your own real estate agent?

The part that cannot be stressed enough is the need to educate yourself on the process before you undertake the selling of your own home. Start investigating the rules and regulations concerning real estate contracts and conveyance. Find out about liens and easements and inspections. In selling your own home there are a lot of hats that you will have to wear. Of course it never hurts to get legal advice and guidance from a lawyer educated in real estate law. There is also an abundance of information available online to help guide your education. The web is a great resource for almost every aspect of the home sale process so take the time to investigate these things to the full extent. Good luck!

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Architect or Building Designer ? Who Do You Choose?

Thinking of building a new home or complex? Will you use an architect or a building designer? Both are involved in the design of buildings ? their appearance, layout, structure, and so on. But what?s the difference?

The simplest difference is a legal one. To be called an ?architect? in NSW, you have to be registered with the Board of Architects of NSW. The title ?building designer? can be used by anyone designing buildings.

But that?s hardly even scratching the surface. Brian Basford is a building designer and treasurer of the Building Designers Association of NSW. He suggests that building designers are generally less expensive, and mostly involved in less flamboyant buildings. ?It?s horses for courses. Most architects probably wouldn?t want to design a single bedroom extension for a pensioner, whereas I?ve done a lot of that.?

Brian also stressed that there are quite often overlaps between what architects do and what building designers do. There?s no simple rule. ?But no matter what the job, good building designers and good architects both produce quality work?, he says.

Architect Gary Kurzer agrees that architects are more likely to be involved with more distinctive, ?up-market? buildings. But not because of cost. ?Architects work to your budget just like building designers. The real reason is that architects are a little more likely to stretch the boundaries and challenge convention.?

According to Gary, you should generally choose an architect if you want more than just a literal translation of your brief. ?My clients normally have a rough idea of what they want. I take that idea and transform it into something they love, but could never have imagined themselves.?

The most important thing is knowing what you want from the service, and choosing someone that suits your job.

And whether you choose an architect or building designer, remember, qualifications are no guarantee of quality. Always ask to see previous examples of their work. Ask for references from previous customers. Ask to see their qualifications. Ask how long they?ve been working. Do they have professional indemnity insurance? Are they a member of an accredited body??

In the end, it?s like anything else? there?s no substitute for common sense.

Thanks to Gary Kurzer, Architect, 0411044448, and Brian Basford, Building Designer.

FAQs
Q: Are architects and building designers the same thing?
A: No. Architects must be registered with the Board of Architects of NSW.

Q: Will I get a better design from an architect?
A: Not necessarily. The only guarantee is a minimum level of qualifications. Architects must have a Bachelor of Architecture degree (5 years) as well as the demonstrated ability to deal with clients and satisfy their requirements. Generally this means at least a couple of years experience in an architect?s office.

Q: Are building designers more in touch with builders and other trades?
A: Not necessarily. Architects are trained to deal with and manage all aspects of the building project. It all comes down to the individual?s experience and abilities.

Q: Are Building designers ?would-be? architects?
A: No. Building design is a recognised profession with its own national body (the BDAA) offering 3 levels of accreditation based on experience and quality ? but registration isn?t compulsory. Many building designers have the qualifications to register with the Board of Architects but they choose not to because they don?t think the name ?architect? is worth the ongoing cost of registration.

Q: Are architects more expensive?
A: Not necessarily. An architect will work to your budget like a building designer. They can do anything from a simple design to very complex interior and exterior detailing to superintendence of the building process. Your building costs and ongoing running costs may also be less. For example, find out if your architect is incorporating cost-saving measures into the building process. They may also design to take advantage of natural lighting, ventilation, heating, cooling, etc. which will save you less in electricity.

Q: How do I tell if they?re really an architect?
A: Call the Board of Architects of NSW ? (02) 93564900 or visit http://www.boarch.nsw.gov.au/f_consumer.html.

Q: How do I look for an accredited building designer?
A: Call the Building Designers Association of NSW ? Sydney (02) 49264855 or visit http://www.bdansw.com.au or http://www.bdaa.com.au/index.htm.

Q: Where else can I go for further information?
A: http://www.architecture.com.au – Royal Australian Institute of Architects
http://www.bdansw.com.au – Building Designers Association of NSW

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Advantages to Shopping for Real Estate Online

The real estate market is one of the most complex markets in the entire world due to the fact that it is in a continuous change, thus making it a very dynamic market. The internet has a lot to offer consumers regarding real estate and as a result it is a great place to start shopping. Some of these advantages are:

- It is inexpensive, if not free to list your home in an online property listing service.

- It is a quick and easy method to advertise your property that is for sale/lease or if you would like to buy a property.

- The buyer and seller have direct access to information about the property in question. This makes other forms of communication between the buyer and the seller obsolete. The internet is easy in comparison to the old-fashioned method of answering dozens phones calls or setting up numerous meetings.

- Many websites that deal with real estate allow you to include up to 5 photos of your property. This is a lot more in comparison to a regular newspaper and you have complete control over the photos? quality. In addition you can highlight specific features about your property with the potential buyers. This can be very helpful if you are working to attract buyers from outside your local geographic area whom potentially need more explanation of certain elements.

- Once listed, your home is available until you will sell the property. This is a big advantage if you consider that for a newspaper ad you will systematically have to pay a fee week after week.

- These online real estate listing services have a nation-wide audience which will make your ad visible to the entire country;

- Searching for the right house is very easy as these websites have filters which will allow you to only see the houses that meet your specific requirements. Therefore you can spend time looking only out houses that meet your needs without having to waste time looking at houses you aren?t interested in.

Using the Internet for real estate will make you your own real estate agent without having to pay a great sum of money to an agent and also you will have full-control of the entire activity. Whether you are a home buyer or seller, it is very easy to search for the perfect house as the online offers are endless. Or, if you would like to sell a piece of real estate, there is no safer and quicker way to do it.

Online real estate has become popular and is consuming are looking to the internet more each day as an easy place to get good information. As a matter of fact, more than 5 million people use the internet for real estate issues every month. With numbers like this it is easy to see how the internet can improve your chances for selling or buying a home.

Another major advantage of real estate moving to the internet is that you won?t need a real estate agent to start your search. This is very important because we all know that real estate agents are of value but sometimes you just want to look.

All in all, there is no better, safer and easier way to search for a home or to sell one than online as the internet has a lot to offer in the real estate market and it is rapidly developing, gaining more and more consumers everyday and thus improving your chances for a profitable buy/sell.

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Affordable Homes: Real Estate in Nation’s 10 Most Cheap & Livable Metro Areas

The 10 most livable and most affordable real estate metro areas in the United States have a number of other favorable characteristics in common, according to a new HouseHunt ?Current Real Estate Market Conditions? survey conducted by HouseHunt, Inc., a consumer-oriented Internet firm that provides free information to thousands of homeowners, home buyers and home sellers across the nation. The survey shows median home prices range from %130,100 to %194,400 for existing homes for sale and also found:
? The majority of the 10 metro areas report balanced, good-to-active housing markets with sellers usually getting 95%PRCTG% or more of their asking prices. Inventories of unsold homes are mostly limited.

? The majority of the 10 metro areas are experiencing strong job and population growth and good economic news. They offer quality lifestyles, good schools and solid family recreation along with other amenities. Sales data shows that many recent home buyers are relocating from other, often more costly areas.

? All 10 metro markets are attracting both first-time and move-up buyers because of affordable prices, low mortgage interest rates and multiple financing options.

? Median real estate prices for existing single-family homes in the 10 metro areas range between %130,100 and %194,400, compared to the national median real estate price of %188,800. Four of the 10 areas reported double-digit price appreciation in the past 12 months.

? All 10 metro areas have major universities located there.

? Five of the 10 metro areas are popular tourism destinations. Nine of the 10 metro areas are located in warm to moderate climates.

The 10 most livable and most affordable metro areas as determined by criteria developed by ?Places Rated Almanac? (David Savageau) and the latest quarterly median sales prices compiled by the National Association of Realtors are:

1. Salt Lake City-Ogden, UT %157,000

2. Tampa-St. Petersburg-Clearwater, FL %172,800

3. Raleigh-Durham-Chapel Hill, NC %175,600

4. Houston, TX %138,100

5. Phoenix, AZ %193,800

6. Cincinnati OH, %139,600

7. Louisville, KY %130,100

8. Austin-San Marcos, TX %154,100

9. Orlando, FL %194,400

10.Nashville,TN %152,100.

Four of the 10 metro areas ? Tampa-St. Petersburg-Clearwater, Raleigh-Durham-Chapel Hill, Nashville and Austin-San Marcos ? are also listed in the latest edition of Lee and Saralee Rosenberg?s ?50 Fabulous Places To Raise Your Family? (Melissa Giovagnoli). Like Savageau, the authors give high marks for schools, jobs and business opportunities, family fun, housing affordability, living costs, climate, health care, transportation and quality of life.

?With all the negative news about spiking home prices and the widening affordability gap, it?s refreshing to find highly desirable metro areas where most buyers can find affordable homes,? said Michael Bearden, president and CEO of HouseHunt, Inc. ?Our quarterly ?Current Market Conditions’ reports are accessible on many of our HouseHunt.com agent websites across the country. For recent home sales in their neighborhoods, homeowners and home sellers can also find this information easily and immediately on HouseHunt?s new moveUp.com website.?

Mark Jenkins of Realty Executives, exclusive HouseHunt member agent for Salt Lake City, described housing activity in his metro area as ?improving? from a depressed buyers market.? He said many buyers are relocating from out-of-state to take advantage of the lifestyle and lower home prices. A median price of %157,000 would probably buy a 2,000 square foot home with three bedrooms, two baths and a two-car garage on a one-third or one-four acre lot in a good location. Highest home price appreciation is occurring near the University of Utah. Another hot spot is Park City, a popular ski resort in the nearby mountains where Lee Merryweather of World Class Realty is the exclusive HouseHunt member agent.

An active housing market is reported in the Tampa-St. Petersburg-Clearwater metro area by Linda Ippolito of Keller Williams Realty, exclusive HouseHunt member agent for Bayshore, Westshore-South Tampa, and Davis Island-South Tampa. She said the whole area is exploding with growth and new industries. Available housing is in limited supply. Although the median price home is %172,800 for the entire metro area, median home prices are closer to %400,000 in South Tampa. Waterfront properties are also priced higher. Average price appreciation is 15.7%PRCTG% in the past year. A slower-paced but high quality lifestyle is reported in the Raleigh – Durham – Chapel Hill metro area by Ray Lenahan of Robert Gray Realtors, exclusive HouseHunt member agent with Robert Gray for Wake Forest, Rolesville and Youngsville.

?The big attraction is our Research Triangle, three major universities, excellent quality of life, and moderate weather,? Lenahan said – He said the median home price of %175,600 in the metro area is probably closer to %190,000 in his market area. ?That will buy a new home with 2,000 square feet with three bedrooms, two baths on a half-acre lot. Either that, or, it would buy an older home in a more established neighborhood,? he added.

Houston, with its ?can do? entrepreneurial spirit and liberal-to-zero zoning restrictions, is attracting people from both the East and West Coasts to relocate and to invest in rental properties, according to Kathi Frank of RE/MAX The Woodlands, exclusive HouseHunt member agent for The Woodlands and Woodland Springs. The Woodlands is a 27,000-acre planned community located 27 miles north of downtown Houston. ?Median price home for the entire metro area is %138,100,? she said. ?That will buy a new, 1,400 square foot home from a production builder in North Houston or Woodland Springs.? She added: ?Estate properties are priced from the low %200,000s to more than %3 million.?

Reva Schafer of West USA Realty, exclusive HouseHunt member agent for Scottsdale and Northeast Phoenix, reported a limited inventory and a very active seller?s market, with sellers usually getting 100%PRCTG% or more of their asking prices. The median price for the metro area is %193,800 ?but hard to find anything under %300,000 in my area,? Schafer said. ?It?s more like %350,000 to %400,000 as a median price in Scottsdale.. Lots are jumping in price. So are houses.? Year-to-year appreciation is 24.4%PRCTG%! She cited tremendous growth in the suburbs of Peoria and Chandler. ?A year ago, investors were buying from builders and flipping (re-selling) the properties. No more. Now, a buyer must live in the property for at least one year to qualify.?

Good job growth, corporate relocations and an improving local economy is fueling the housing market in the Cincinnati metro market, according to Saralou Durham of RE/MAX Preferred Group and exclusive HouseHunt member agent for suburban Montgomery and Hyde Park in Hamilton County, OH. ?We have fabulous cultural and recreational facilities and a good quality lifestyle,? she said..?A median home price of %139,600 seems a bit low, depending on the area. That amount of money will probably buy a small two bedroom, one bath home needing some repair or remodeling in one of our small suburban communities.?

In Louisville, Charlotte Wright and Michael McConnell of Evergreen Realty are exclusive HouseHunt member agents for suburban Jeffersontown. ?Louisville is now the 16th largest metro area in the nation,? Wright said. ?We?re a hub for UPS and have two Ford plants located here. Military personnel stationed as nearby Ft. Knox and their families are also relocating here, she said. ?The median price of %130,100 is probably low ? %150,000 would be more accurate. The latter will buy a three bedroom, two bath 1,200 square foot house with a garage in a good area.?

Ann Parr of RE/MAX Austin Advantage and exclusive HouseHunt member agent for Westlake & Lake Travis said well-priced listings are attracting multiple, full-price offers in a very active seller?s market. Average time on the market is 60-90 days. ?We have younger professionals who want to live close to downtown but the primary place to live is by the lakes,? she said. Prices range from %150,000 to %6 million. ?Nice homes can be purchased for %250,000 to %350,000. The median price home is %154,100 in Austin. That would probably buy a starter home in the Round Rock area or a home needing remodeling in Central Austin. Patio homes for retired people near Lake Austin sell for %200,000.?

One of the hottest of the 10 metro markets on the list is Orlando, according to Steve Farah of the Royal Realty Group. Farah is exclusive HouseHunt member agent for Alafaya & Waterford Lakes and Kissimmee: ?We?re experiencing unbelievable growth and home appreciation,? he said. ?Our seller?s market is so active that listings sometimes last only hours, not days. Buyers frequently must act immediately or the property will be gone!? He feels that the median price of %194,400 is probably low because of high demand and the low inventory. ?A median price of %250,000 would be more realistic and would buy a three ?bedroom, two bath home with 1,700 to 2,000 square feet.? Since the first quarter of 2004, the median price home has appreciated 28.7%PRCTG%.

Nashville, the 10th ranked metro area on the list, offers a relaxed, friendly lifestyle and affordable home prices to newcomers, according to Mary Barbee of Coldwell Banker Andrews and Associates. Plus, there is no state income tax. Barbee is the exclusive HouseHunt member agent for South East Nashville. ?The median price of %152,100 seems low ? it?s more like %170,000, depending on location. That amount of money would probably buy a three-bedroom, two-bath new home with 1,200-1,500 square feet in the suburban communities of Madison and Smyrna,? she said. The median home price is up 11.3%PRCTG% in the past year in the Nashville metro area.

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Appraisers lower costs for federal tax savings on small property depreciation

Tax savings through cost segregation is no longer out of reach for investors in small and medium size properties. With appraiser expertise, fees for analysis are often one-third to one-half lower than those charged by traditional preparers.

Several years ago a definitive court case ruled that tangible personal property included in an acquisition or in overall costs should be depreciated as personal property for asset recovery, using the old Investment Tax Credit principles to classify personal property.

This meant that owners of improved properties could distinguish between real property and personal property to depreciate component costs over varying useful lives. Basically, instead of depreciating an entire commercial property over 39 years, or residential roperty (single-family rentals or multifamily) over 27.5 years, certain components are correctly identified as depreciating in much less time. For about 135 items, useful life periods can be 5, 7 or 15 years. This is known as cost segregation.

The result of increasing depreciation is lower taxable income (which would have been taxed at 35%PRCTG%) and more income taxed at the capital gains rate (15%PRCTG%) when the property is sold. Furthermore, it works for any type of improved property.

Until recently, primarily large accounting firms or engineering firms implemented cost segregation studies, addressing large and newly built properties and sometimes outsourcing the analysis.
Prices for those analytical reports, usually in the %10,000 to %40,000 range, were out of reach for owners of small properties, especially those holding less-than-new assets. Unfortunately, those owners representing the largest segment of real estate investors in the country were mostly overlooked by previous providers of cost segregation services.

Now a revolutionary paradigm shift is opening the door to very significant savings for owners of small properties. Much of the change is based upon introducing the efficiencies of highly knowledgeable real estate appraisers who often apply industry-accepted cost estimation techniques before determining remaining asset life. By not ?over-engineering? the staffing or production process, professional fees are lower. Yet, results can usually meet or exceed those of far more expensive reports. This approach has been successfully field-tested by IRS auditors.

Changes that appraisers are introducing to cost segregation analysis and reporting are addressing: 1) the size of the property being analyzed, 2) the age of the property, and 3) an affordable price point. O?Connor & Associates, a nationwide real estate service firm, is taking advantage of such techniques to effect these beneficial changes:

1. Owners of property with an improvement basis as low as %500,000 can benefit from cost segregation. This compares to the limited properties worth %5 to %10 million and above that previously benefited.
2. Existing properties built or purchased after 1986 offer significant savings in year-one of cost segregation, even without producing original cost documents. Capturing non-segregated depreciation from prior years is perfectly allowable by the IRS. This compares to firms previously applying the methodology only to new construction.
3. Fees are no longer prohibitive. To prepare an analysis and report for many small properties, prices are low enough to generate at least 3 times the report cost in the first year.

This compares to the traditional fees ranging from %10,000 to %20,000 and up for comparable size properties.
It is wise to keep the owner?s CPA or tax preparer abreast throughout the process. For older properties, the CPA may need to complete a Form 3115 to submit with the tax return so the owner can realize savings on items not previously depreciated – without filing an amended return.
Income producing properties worth as little as %500,000 can achieve a 3:1 payback ratio of tax savings over the modest price of a cost segregation report. If owned for 3 or more years, the typical payback ratio is 10:1.

In late 2005, O?Connor?s pipeline of cost segregation work was up more than 100%PRCTG%. As owners are preparing for 2005 federal tax filings, many are tapping into this opportunity to lower their federal taxes. Even general partners who are not paying federal income taxes should use this depreciation method since K-1s will reflect lower taxable income to benefit their limited partners.

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Anchorage Alaska Real Estate

Anchorage, Alaska, is located in Anchorage County and lies 1434 miles northwest of Seattle, Washington. Anchorage has a population of 260,283. Its residents enjoy outdoor activities like kayaking through Prince William Sound, fly-fishing, skiing, and hiking and a relatively mild climate.

Anchorage is a historical and bustling city that serves as the transportation, banking, and business center of the state. Notable structures include historic buildings such as Anchorage?s City Hall, built in 1936, as well as the 4th Avenue Theatre, an art deco style building dating from 1947 with stunning floor to ceiling bronze interior murals.

Anchorage, incorporated in 1920, is a relatively young city, and homes built in the 1950s almost enjoy historic status. Nevertheless, the city?s vibrancy has earned Anchorage the reputation as the new ?in? city for travelers to Alaska as well as new residents, who come for its excellent transportation system, mild weather, and central location.

Anchorage Homes

Anchorage properties pool is 94,822 residential properties including Anchorage new homes. The median age of real estate in Anchorage is 1977. The average Household size is 3.19 people. 4%PRCTG% are one bedroom homes, 19%PRCTG% are 2 bedroom homes, 46%PRCTG% are 3 bedroom homes, 24%PRCTG% are 4 bedroom homes, and 5%PRCTG% are 5+ bedroom homes.

Anchorage Mortgage Statistics

Homes With No Mortgage 14%PRCTG%
Homes With Mortgage 86%PRCTG%
First Mortgage Only 74%PRCTG%
First & Second Mortgage or HELOC 12%PRCTG%

Anchorage Area Real Estate Tax

Anchorage Real estate Tax: Median Real Estate Taxes (2000) were %2,523 comparing to 1999 Median Family income % 63,682. Compare to USA median yearly Real Estate Tax %1,300 and USA median Family Income %42,000 (1999).

Anchorage School District: Children make up 29.1%PRCTG% of Anchorage population. Anchorage has 75,871 under 18 years old residents, or 0.58 kids per one worker, or 0.8 kids per one household.

Anchorage Real Estate & Anchorage Home Ownership

Most residents of this city have come from elsewhere in the United States. Many came to work in the oil fields. Alaskan Native peoples comprise about 8%PRCTG% of the population. The city also has a growing population of Asian and Hispanic residents.

There are 21809.06 or 23%PRCTG% one person households, 30343.04 or 32%PRCTG% two person households, and 17067.96 or 18%PRCTG% three person households in Anchorage, Alaska. Median residents age is 32.4, Senior citizens (65+) make up 14,242 or 5.5%PRCTG%%PRCTG% of Anchorage population.

There are 131,228 workers (over 16 years of age) in Anchorage. Of these, 89%PRCTG% drive to work. Approximately 2.02%PRCTG% of workers in Anchorage take public transportation. An estimated 2.66%PRCTG% walk to work.

Median Anchorage homeowner’s housing expenses are 20.9%PRCTG%

Crime in Anchorage (2003), crimes per 10,000 residents per year
Violent Crimes 67
Robberies 13.06
Aggravated Assaults 43.91
Property Crimes 449.74
Burglaries 54.48
Larceny-Thefts 349.27
Motor Vehicle Thefts 45.99

Invest in Anchorage Properties

When making a decision about buying real estate in Anchorage Alaska area, you should consider following statistical data:
Near Medium City
Near Large City Seattle, Washington
Anchorage Zip Codes 99501, 99502, 99503, 99504, 99505, 99506, 99507, 99508, 99513, 99515, 99516, 99517, 99518, 99529, 99530, 99540, 99599
Anchorage Area Codes 907
White population 72.23%PRCTG%
African-American population 5.84%PRCTG%
Asian 5.55%PRCTG%
American Indian & Alaskan
Hispanic (of any race) 5.69%PRCTG%
Median Family Income (1999) – % 63,682%PRCTG%
Population Below Poverty Level – 7.18%PRCTG%

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3 Pitfalls to Avoid When Playing in the Real Estate Game

So you?ve seen your umpteenth infomercial with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion dollars (but only if you call now) and now you are thinking, “wow this looks like a great deal, I better get it fast before the special offer expires.” You notice how there?s always a special offer? Anyway, I am not saying this guy isn?t telling the truth, however regardless of which course or school of thought you buy into there are several key areas that one must avoid when engaging in any real estate related transaction.

Pitfall Number 1: Don?t Overpay!

The whole point in investing is to find properties that are undervalued. How does one find out what is undervalued versus overvalued? Without getting into technical details, the bottom line is you need experience. Yes much like shopping for anything else, real estate is essentially one of the highest ticket items in the shopping center of life. It?s advisable to stick with one market, perhaps the one closest to you in proximity as a starting off point. Through your experience and asking the right questions, you will eventually have a feel for the pulse of the market you are looking after, and of course identify what is considered a good buy.

Pitfall Number 2: Know the Market

Yes, you are actually going to have to do more work! This part is really common sense though, but executing it where the beauty and the payoff comes in. How do you make money in real estate? The most basic way is to buy low and sell high. So from the first step, you have identified general trends in the value of homes, and are pretty good at spotting undervalued homes. Assuming you acquire that home, you may want to profit from it by selling it off to someone else for a higher price. How can you do this? Well there are many ways. For one, most markets appreciate in value over time so if you want a longer term approach that will work. Making upgrades to the property will automatically raise the price of the home as well. Think in terms of what the market wants, not what you personally want. You aren?t the one buying it; you are trying to sell it to someone else for a higher price than you bought it.

Pitfall Number 3: Know Your Budget

It may be a fine philosophy to go through life on a whim, but real estate is serious business, and thus diligent financial planning and budgeting is critical to your success. Don?t worry you don?t need to be a finance geek, however you need to be disciplined and know your budget from the onset, or you may be finding you are learning that you need to make certain renovations or upgrades, and didn?t anticipate it going over to a certain cost. Think ahead as to what is needed before actually going forth with investing in real estate.

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