Investment property
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If you"re on the hunt for an apartment right now, you"ve probably noticed that you"re in good company. Each weekend, hordes of hunters arrive at the newest and most luxurious complexes. The apartment business is growing increasingly competitive in many markets, and leasing companies are offering tempting specials to sweeten the deal and lure prospective renters away from competitors. Working in this kind of "every man for himself" climate, however, requires a little prior knowledge before you begin your search. It really is a jungle out there.
CoreNet Global, an international association of workplace and corporate real estate executives, and Jones Lang LaSalle, a leading real estate service provider, queried more than 2300 attendees of CoreNet Global Summits on four continents and learned that a large majority of companies around the world view sustainability as critical to their business and are willing to pay a premium to help their companies become more sustainable. CoreNet Global Summits in London, Melbourne, Denver and Singapore took the watershed survey called, "Sustainability Perceptions and Trends in the Corporate Real Estate Industry."
From the industrial revolution to today"s brick and mortar and online communities, where the focus is on efficiency, productivity, and results, effective communications are a challenge but also a necessity if a builder"s brand is to remain relevant in the marketplace. One can learn first-hand from the recent tragedy in California to see how important honest, effective communications and reputation building are for success in any emergency.
There are many ways technology is helping businesses in all industries be more productive and enhance their bottom lines. For builders looking to do more than just survive in more competitive markets, new and improved back-office construction management software might just be the solution to cutting costs and capturing more profit. With these new offerings, builders can now keep online schedules up-to-date on a daily basis, arrange for centralized communications so requests for information can be logged and organized providing accountability for who did what and when they did it, and the ability to seamlessly integrate, in real-time, their financial systems.
The current economic climate has dramatically changed the real estate landscape. Locally, in the Portland/Vancouver metro area in the 12 months ending May 31, 2008, only 2% of the homes sold were Bank Owned or Short Sale properties. In the 12 months ending May 31, 2009, it was 11%. Today, 16% of the properties on the market for sale fall into these categories. In some markets around the country these statistics and trends are even more staggering.
Community design trends are moving toward greater accessibility to public facilities, such as transportation and commercial activities, so reports the American Institute of Architects (AIA). In its recently released Home Design Trends Survey, the AIA found that neighborhood design trends favor more mixed-use activities with infill and other higher-density development, and with dedicated areas for recreation and open space. In addition, traditional design of neighborhoods and homes with upscale exteriors, and windows and porches to encourage more street-level interaction, also are gaining in popularity.
Solar energy has been making big waves over the last few years. As energy costs rise and consumer awareness heightens over environmental issues, many homeowners are making alternative energy choices -- from buying hybrid cars to installing home wind generators.
In this age of cynicism and disbelief, it is more than welcoming to bear witness to an organization that practices what it preaches, especially when it results in a win-win for the people and the community at-large. Last month, the Washington-DC-based headquarters of the U.S. Green Building Council (USGBC) was announced as the first project to receive its Platinum certification under the latest version of the LEED green building rating system.
Two key federal housing agencies are planning new initiatives this year that they believe will allow them to dig deeper into the new-home market.
It"s impossible for an educational book to match the content dynamics of a website.
During the Great Depression, slums were often described as "tin cities."
The Obama administration put heavy pressure on the country"s largest home loan servicers last week to speed up modifications of hundreds of thousands of homeowners" mortgages.
Denser development that incorporates a variety of land uses is the most efficient way to accommodate future population growth.
When it comes to plugged in household space, kids" rooms rock. A new study says many kids" rooms are becoming media centers.
Some homes built in the last 20 years are built of materials that are labeled “exotic” by the Home Inspection Industry.
Residential construction is undergoing an industry-driven revolution in how houses are built thanks to a new trend known as “green building,” according to the National Association of Home Builders.
Just five years ago, no one had even heard of smoke-free condo units, now there are more than 100,000 of them – at least in Michigan. The initiative to create more smoke-free units, MISmokeFreeApartment.org, claims that "the right to smoke is not protected under law, according to the opinions of the Michigan Attorney General and HUD (U.S. Department of Housing and Urban Development).
Although the number of proponents of environmentally-friendly construction practices is growing, it"s still not easy building "green."
A preliminary reading of responses to a recent National Association of Home Builders survey indicates that the Sept. 11th terrorist attack has exacted a heavy toll on housing producers throughout the country. And it could get worse before it gets better.
What style of home do most Americans prefer and how big should it be? The National Association of Home Builders asked that question and got some answers.
Buyers, sellers and realty agents in high-cost housing markets in California and along the East Coast can breathe a little easier about expiring mortgage limits for FHA, Fannie Mae and Freddie Mac.
In December of 1996, my husband and I gave each other a beach house. We"d been renting a place in Rehoboth Beach, Delaware every summer for more than a decade and really wanted a place of our own -- not just for the summer, but for fall weekends, New Years"s Eve, and general "decompression."
Saving for your retirement home has been tough, but finally you can build the dream house you always wanted.
There"s nothing you can do to stop a hurricane from striking, but there are things to look for in a new home that might lessen the storm"s impact. If retiring along the Atlantic or Gulf coast is your dream, or you"re looking for that perfect beach house, there are a number of housing features to consider.
Quaint little old folks sitting on rocking chairs? If that"s your idea of retirement living, guess again. Today"s senior communities are far more likely to offer dance and exercise classes, outings to the mall, cultural and educational programs, and lots of camaraderie.
Ever notice how a toddler can transform a discarded box into a cozy home?
The idea that “form follows function” could not be more true than when it comes to Americans and their love of big cars. As the SUV craze continues across the country, home builders are increasingly being asked to build bigger garages to accommodate the sport utilities and mini-vans that have become a suburban trademark.
What do many homeowners want to hear after a long day at work? Perhaps it"s the sound of nothing.
Ask any contractor in just about any trade what they hate most about their jobs, and the overwhelming response would probably be “paperwork!”
Is the demand for bigger, more gadget-oriented homes as real as visits to model homes would have us believe? A quick look at today"s offerings suggest that Americans want bigger homes, and builders are willing to help big spenders from master bedroom suites to high-tech media centers.
You"ve tried to ignore it but it won"t go away. That bulge in the kitchen floor.
It"s old news. With the phenomenal construction labor shortage in full
Home is a place to renew and recharge our batteries. Above all, it should be a haven for peace and reflection, giving meaning to all the craziness we endure on a daily basis. This and many other sentiments are reflected by new studies about what homebuyers want in a home, conducted by Texas A & M University"s Real Estate Center, and outlined in a release by Relocation Information Services.
When you go to the grocery store and load up your cart, chances are you"ll purchase the same brand names every time. You may spend more on the cereal with the well-known brand name on it, but you tried the store"s generic brand that is supposed to be identical and it just didn"t cut it with your kids. It stands to reason that we tend become more comfortable with a product when we know what to expect each time we purchase it. Then we become creatures of
It started with one, it went to two, and luxury set in at three. Now four
Risk-taking has to be one of the most unsettling aspects of offering any new
Something looks vaguely familiar. Is it the arrangement of the rooms as you
When the question, "Is it safe?" is posed, somehow Dustin Hoffman in the
If you"re in the market for a new home, shopping for one can be a tedious,
What does the entry foyer to your home say about you? In recent years, new
It never ends.
"Top," "Best," and "Most" lists rarely tell the whole story, but they do serve a useful purpose.
Women are the CPOs (Chief Buying Officers) of American households, and are rapidly gaining in gender status as the nation"s top wealth holders.
It"s been difficult to pick up a paper during the past few weeks and not notice two major stories: The Dow Jones Industrial Average reached a record 12,000 while real estate values are falling.
Question: I signed a contract to purchase a house, and settlement was scheduled to take place last week. I obtained a mortgage loan, and showed up at the title attorney"s office ready to go to closing. Only the Seller"s real estate agent was there, and advised me that the Seller has changed his mind.
When it comes to eventually moving into that dream home you"ve always wanted, keep in mind that many of the choices we make on a house are really driven by lifestyle desires, rather than lifestyle needs.
I wouldn"t say that I"m frothing at the mouth right now while sitting in my vacation rental, but I"m getting close. My bride and I just spent breakfast making a list of why we"ll never rent this unit again at one of my favorite beach communities.
A Brookings Institute report pointed out McAllen, Texas as “the only major city in the country that saw growth in employment and output during the first quarter of 2009,” as reported in The Monitor, the Rio Grande Valley’s main newspaper and online news service.
There"s nothing like a short jaunt to the beach (or mountains) to release your stress, get your first seasonal sunburn and start thinking about buying a piece of vacation rental property.
Browsing for housing is not just an ancillary tool in the quest to buy a home.
It"s difficult to imagine that mounds of cash might be a problem, but in some circles a surplus of coins is raising a concern: What to do with real estate dollars now that the housing market in some areas is slowing.
Peeking at an online real estate discussion group, the question came up (and I"ve heard it before), is it bad to take a referral for my mortgage broker from a real estate agent? The quick answer is – no problem.
A couple of weeks back, I talked about selling houses during the holidays when really serious buyers are out in force.
In 2003, the National Association of Real Estate Editors held its spring conference in San Diego. That conference included a bus trip southeast of the central core of Tijuana, Mexico, where Casas Geo, one of Mexico"s largest residential developers, was building El Dorado, a 4,500-unit condominium project.
Years in the making, a new real estate industry trade certification will help consumers quickly find professional representation with experience specific to the second home market.
Rate locks are key to keeping the lid on lending costs when interest rates begin to take off -- as they have for the past month and a half.
If you are looking for a home where grey matter matters, try the Green Mountain State of Vermont.
I walked into the first session of a 15-hour continuing-education course, expecting to be teaching a room full of real estate agents eager for a credit to apply to their license renewal requirements.
At a time when home values are soaring in most metro areas, along comes The New York Times with the thought that renting may well be a better financial choice than buying.
Every day investors ask me to look at potential real estate investments to help them evaluate the quality of the investment decision.
Question: My wife and I are considering purchasing a new home in a new development. We would like to include several protective contingencies in the contract but are not sure of the wording. Can you assist?
The nation"s most comprehensive new set of energy regulations in more than a decade will give consumers nearly $800 million in home-energy tax breaks beginning in 2006.
Question: My husband and I are considering purchasing a condo near our son"s college. The lender we spoke with offered us only the higher, investment property rate. She gave us three reasons:
You"ve found the perfect property to purchase, whether it is a condo or detached house. If it falls within the guidelines of a community association make sure you educate yourself on the bylaws before buying or else you run the risk of being terribly unhappy.
It"s been a wild real estate ride for many areas in the country, some areas seeing unusually high appreciation. But that may be about to change.
It"s official. The New York Times has reported that the Denver real estate market has slowed.
Real estate website visitor numbers are up nearly 20 percent compared to a year ago, but that could be because heightened fear about over-priced homes is driving a growing portion of the traffic.
Even in sunny San Diego, California, the weather has taken a turn and is cooling off, and that means it"s a good time to make sure that your home is energy-ready for winter.
Homeowners are beginning to wonder whether holding on to their homes is a mistake. Many have seen their property values drop 25 percent or more. Some experts claim that the housing market hasn"t yet hit bottom. A few are even saying that we’re only halfway there.
As sure as year-end holiday decorations hit the stores before Halloween, the annual home heating fuel cost forecast will put a damper on season"s greetings.
There"s a 62 percent chance a major earthquake will rock the San Francisco Bay Area by 2032, but only 17 percent of the area"s residents are prepared.
One of the other volunteers at the Saturday morning food cupboard handles marketing for environmentally friendly -- "green" -- products and services.
Spring is in the air, at least out here in sunny San Diego, California. And that has homeowners thinking about a landscaping makeover. A tastefully landscaped yard can not only create a soothing environment for you but also add value to your home when it comes time to sell. And there"s yet another landscaping benefit that"s richly improving yards and our environment.
Today"s home electronics are much more energy efficient than they were years ago, but because households are stuffed with so many gadgets used more often, energy conservation recommendations for home electronics won"t go away.
Three realty fraud suspects in Modesto, CA, were sent to trial this month, accused of lying to steal the trust of seven families facing foreclosure and then tricking them into signing over property deeds for a fraction of their value.
Although the change of seasons is a wonderful element of Canadian life, our homes often need help adapting to related shifts in temperature and weather. Seasonal home maintenance can mean accidents and injuries for homeowners who act without the right knowledge and care. It"s no surprise that emergency departments see an up-swing in traffic as soon as falling leaves drive property owners up ladders to clean eaves" troughs.
After Hurricane Katrina left much of the Gulf Coast in the dark last year, a dozen deaths and scores of carbon monoxide (CO) poisonings were blamed on portable gas-fired generators in the hands of those unfamiliar with their proper use.
I guess it"s because the electricity in my new old house had been upgraded before I"d moved in, but I don"t think as much about fire as I did in my previous two houses.
Now is the time to get your year-end tax planning in order. This year, you can make audit-proofing your return one of your goals. The best way to do that is to (1) have good documentation for your deductions, (2) hire a good tax preparer and (3) avoid the red flags that might cause an audit!
Remember the one about the Jetsons-minded folks who want to electronically connect you to your washer and dryer when the laundry is out of reach?
People who enjoy the hot, arid conditions of desert living -- and relatively lower home prices -- may soon find the cost of water shortages and rising temperatures are more than they bargained for.
Early harvests are already coming out of some gardens. But as the summer heats up and the bugs return and hatch -- many homeowners will be left fighting a never ending battle for the fruits of their labor. Literally.
Question: I own an older house and have been asked by an organization to donate the facade of my house for historic preservation purposes. Is this still legal? What benefits do I gain by making this donation?
The slowing real estate market in many areas of the country finds buyers a little less eager than in they were in recent years to rush into a transaction without a very careful look at what they are buying.
Here"s another reason to include emergency preparedness in your lifestyle at home -- the bird flu.
During my last workout at the gym, I watched a professional trainer attempt to instruct a very amateur member in how to build more muscle and prevent injury. The amateur just wouldn"t listen, it seemed. Instead of dropping his dumbbell down to 45 pounds in each hand, he argued with the trainer that he wanted to do 60 pounds in each hand to build muscle.
Ontario residents were asked to reduce their use of electricity in the province this week as a combination of the hottest summer in years and limitations on supply threatened the reliability of the system. It"s the fourth time this year that an appeal to conserve energy has been issued.
A particularly wet winter in some parts of the country has jump-started the mosquito season this summer and it"s past time to start taking precautions to protect you, your family and your home from an invasion.
Many schools are nearing the end of the year and that"s a sure sign that summer is on its way. As we approach summertime, many homeowners want to spruce up their homes with a decorating make-over to match the season. Try these 25 tips to bring the lazy, carefree summer days into your home.
It will no longer be easy to erase your debts -- including your home mortgage --as a result of the recently enacted Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. On Wednesday, April 20, 2005, President Bush signed into law the most significant overhaul of the Bankruptcy laws since 1978.
With the price of a barrel of crude moving from about $45 to more than $56 within a few months this year, solar power is taking on new luster.
If you"re feeling kind of blue lately maybe it"s time for a new look. Rearranging a room can not only perk up your home, but also your mood, giving you a fresh perspective on life.
In an instant, the rain-drenched hillsides above the La Conchita, CA coastal village came roaring down Jan. 10, killing at least three residents, injuring nearly a dozen and leaving almost two dozen missing.
Earthquakes are like rude house guests. They show up when you least expect them, trash your place and leave without picking up. Like rude guests, they are no laugher matter. While earthquakes are unpredictable, there are things you can do to reduce the consequences. If you live in an area that is vulnerable to earthquakes, here are some handy suggestions:
We are to some extent what we throw out in that we are becoming increasingly buried and consumed by waste from our daily activities.
When the Copper Development Association recently released the "Top Ten List of Electrical Hazards in the Home," we asked an experienced electrical contractor and long time general contractor to help consumers with solutions to each hazard.
Many Floridians whose homes were destroyed or damaged by Hurricane Charley are learning the hard way about the first rule of filing insurance claims: Keeping good records.
If you"re still looking for a home, think about your dog or cat"s temperament. Is he old and arthritic? Then a home with stairs may not be your best bet. Do you have a big dog that likes lots of room? In the absence of a nice-sized yard, try to find a house with at least one oversized room so the two of you will have room to play together.
It doesn’t have to look pretty to do the job, but still we are inundated by books and magazine articles that promote form over function.
The traditional dream of retirement is being able to sit back with a multi-million-dollar retirement account that enables you to live off the interest. No worries, just the frustration of not getting your tee time. However, in today"s socio-economic culture, paying for your retirement housing may include paying fees for services as well as for rent and household expenses. If health becomes an issue, those golden years can become a huge financial burden with long-term care eating away at all the savings you"ve slowly invested over the decades.
With over 1,000,000 attorneys and over 150 law schools graduating attorneys each year, the average American is well represented (ABA website data). According to the "Power of Attorneys" website, a survey conducted by the American Bar Association in the 1970s revealed that 70 percent of Americans not only did not have an attorney, but they also did not know how to find one. That is not the case today.
The Environmental Protection Agency"s most recent report about air quality is enough to make each of us want to stop breathing. The EPA announced this past April that 170 million Americans live in areas that are too smoggy for our health.
The purchase of most homes starts with a marriage beforehand, followed by dreams, saving of down payment funds and then the contract. Unfortunately, the seven-year itch hits for many spouses and these houses of dreams must be dispensed of in the midst of the horrors of divorce. Been there, done that and it"s about as fun as threading a needle in your eye.
"Good fences make good neighbors," wrote Robert Frost in his poem "Mending Wall." But I"m sure he didn"t think it would have as much a modern connection as it does with today"s fence-riddled subdivisions.
Billions of dollars worth of equity cashouts by homeowners during the refi boom of 2001-2003 not only helped the U.S. economy, concludes a new federal study, but they were smart financial moves for the individual homeowners themselves.
As design trends come and go, one of the ever-changing elements is color, in which hues zip in and out of popularity. When you think about home dûcor in
The holidays prompt a flurry of activity as gifts pile up under the tree.
Here"s a gift-buying idea you may not have thought about this holiday season -- gifts for your house. I"ve come across a few unique products that your house just might love having installed and used on it. Okay -- so I"m grasping for an emotional appeal, but these are some pretty neat products that, in addition to other services, can help you determine your energy use and humidity level, and protect your home from flooding.
Question: I own four new townhouses. I have purchased each one over the last four years and then moved into the next one as my personal residence. I"m about to move next year to another house in a neighboring county. I am renting these out to good tenants, but I"m now worried because I put 10 – 20 percent down on each house. I have good equity and the rent covers all the mortgages. I even have a positive cash flow, but I have no other savings except my 401K and pension. I"m 35 years old and have a 3-month old baby.
With rates trending down during the past few weeks I have been refinancing my home. Like millions of other homeowners, I regard refinancing with mixed feelings -- lower rates are wonderful but the details and requirements associated with the process seem endless and numbing.
Indoor air quality is now understood to be as significant of a problem as outdoor air quality. Indeed, what good is clean air outside a home if the inside air quality is poisoning your family? It is important that you protect your home’s indoor air quality.
If you"re gearing up for an August vacation or end-of-the-summer weekend getaway, you"ll want to keep not only your home safe, but your good name as well.
How do you interpret a mixed bag of numbers? That"s the big question for housing right now.
We can all use some really good news about now, and I have some for you.
Money, or rather the lack of it, is a popular topic in coffee shops and board rooms these days -- across Canada and around the world. Individuals and companies feel the pinch of these redefining economic times and many are pulling back financially. In contrast, our governments are spending at record levels. Instead of feeling crushed by the recession, seek out opportunity.
I"ve always worked in historic neighborhoods, so the ability to negotiate inspections has been a critical part of my success. And yeah, I"ve gotten good at it. If you"re interested, I"ll share some of my secrets with you.
If your air conditioning unit is getting up there in age or you"ve noticed
As the coming weeks and months promise heat, many of us will find refuge
Older houses present maintenance and repair challenges that can seem overwhelming to the first-time homebuyers.
The National Association of Realtors is reporting that the national media existing single-family home price was $169,000 in the first quarter 2009 -- down 13.8 percent from the first quarter of 2008.
Q.I recently had the four corners of my land staked by a surveyor. In so doing, I noticed that my neighbor"s shed which is on a concrete slab is about 8-10 inches on my property. A hedge divides my land from theirs in the back yard, although the neighbor pulled out half of the hedge and uses the 8-10 inch strip for the shed and for planting. What is the law? I would like to keep peace with the neighbors. I did tell them that they are on my land. The indicated that they thought the hedge belonged to them but were terribly sorry after they found out it wasn"t their property. However, our neighbor still plants on the strip. We would appreciate the simplest solution of all possibilities that might be available.
Don"t let a new identity theft study confuse your approach to warding off the crooks. No matter the source of the pilfering, the fundamentals of ID theft prevention apply.
I got an email from a lady that retired last year. She bought the condo she"s living in with a Payment Option ARM. Trouble was, she really didn"t know it was "one of those" loans. And she"s been around the block a few times and had purchased at least four other properties throughout her adult life. But now the loan balance had reached 115 percent of her original loan due to negative amortization and her new house payment was higher than her monthly income.
GreenPoint Mortgage Funding is the latest mortgage company to shut its doors this year. Credit card giant CapitalOne, headquartered in the shadow of Washington, D.C., announced the immediate shutdown of GreenPoint, its loan origination subsidiary. Talk about a good idea gone bad -- CapitalOne just bought the company December of last year.
With the market for subprime mortgages in a virtual free fall, new home loan applications for Federal Housing Administration (FHA) loans are up sharply. But FHA officials say the increase -- welcome though it is -- should be even higher given the degree of shrinkage in the subprime sector.
With mortgage delinquencies soaring-and projected to go higher this year-a unit of the Treasury Dept. last week urged banks to redouble their efforts to intervene earlier and more imaginatively with financially troubled homeowners.
Mortgage fraud -- from bogus appraisals to consumer lies about employment and income -- is booming, up by 30 percent in the last year, according to a comprehensive new study prepared for the Mortgage Bankers Association of America using FBI and private mortgage industry data.
With interest rates as high as they"ve been in 10 months, homeowners are refinancing in droves to fixed rate mortgages.
Immensely popular in some geographic areas, while unheard of in others, the zero cost refinance program deserves a full explanation. In short, qualified borrowers can forego the payment of the traditional closing costs associated with a refinance in exchange for a slightly higher interest rate -- usually about one quarter percent. These closing costs include such items as title insurance, county recording fees, appraisal fees, lender underwriting fees, attorney settlement fees, and so forth.
The National Association of Home Builders is reporting that buyers may returning to the market.
The Department of Housing and Urban Development"s "biggest priority in single family housing" for the 2007 legislative year is reforming the Federal Housing Administration.
If you are a typical U.S. homeowner, you think about the mortgage once a month, when you write the check, put it with the payment coupon in the envelope and drop it in the mail.
It doesn"t qualify as a boom quite yet, but it"s shaping up to be at least a mini-boom: American homeowners applied to refinance their existing mortgages last week at a pace faster than at any time since February of 2005.
Usually I"m asked this question in reverse, but after a little thought I said to myself, "You know, that"s really a good question."
Question: We have had our house on the market for over one moth, with absolutely no nibbles. We lowered the sales price, but to no avail. A friend suggested that we consider taking back financing, but do not know if this legal or how it works. Is this something we should consider?
Want to invest in home values without actually buying houses?
More and more mortgage consumers are getting squeezed on both ends of their home loan.
In my last column, I discussed the details of the relatively new change in mortgage loans guaranteed by the Federal Housing Administration (FHA). Last October, FHA increased their cash out limits to 95 percent of the property"s value. While this change alone doesn"t necessarily constitute big news, it could be of interest to homeowners when we take it into consideration with today"s interesting market conditions.
The 15-year FRM this week averaged 4.51 percent with an average 0.7 point, up from last week when it averaged 4.48 percent. A year ago at this time, the 15-year FRM averaged 5.60 percent.
The nation"s three major credit data reporting agencies have joined to create a single system for calculating credit scores.
You"ve seen the advertisements and heard the radio commercials. "Here at XYZ Mortgage we compare rates with over 100 lenders" or "Our company has access to over 300 mortgage loan companies nationwide!" Pretty impressive, isn"t it? 100 lenders? 300 banks? Do you believe all that?