DCINH Real Estate Blog

Real Estate blog has been the output of many Realtors on their different thoughts and buzz on what’s happening on Real Estate business. I’m here to discuss on what are the things to consider in starting a real estate blog. If you’re a newbie with some technical stuff you could use wordpress.com and blogger.com as the host of your wordpress. Also blog design is very important as well because the layout and color of your blog will attract or take away visitors to your blog.

Topics are the most important in starting a real estate blog. If your blog don’t produce unique and valuable information, no one is interested to go back to your blog. Like what they say in the webmaster world, “Content Is King”. Search engine will give you traffic if you provide quality information. Sometimes it’s not about quality, but also make sure you can produce lots of information. That’s it for now. I’ll probably give you more tips on real estate blogging in my upcoming blog post.

Thinking about investing in real estate! Plan and Proceed.
a) Investing in real estate should and must start with the formulation of a plan. The investor needs to decide on the nature of investing suitable for him as well as the area in which he will be investing. The investment strategy must be appropriate for the area concerned.
b) Saving money for the investing should be another intelligent strategy. There can be huge volumes of unexpected costs and the best way for the investor to be ready for them is to set some of his own money aside.
c) The investor also should give importance to self-education. Books and websites on real estate can be of good help for him before actually venturing into the trade.
Do not get tensed. This goes out as an advice to all first-timers because real estate investors seldom run into losses. Intelligent investing can reap rich profits making your life a bed of roses.
Intelligent investing requires:
i) A Clear Vision:
The investor has to clearly understand that investing in real estate is not like magic and that it will demand more time than he can initially think of.
ii) Skills and risk-taking:
Entrepreneurial skills are the fundamental requirements when one is thinking of investing in real estate. Had it been not a matter of such skills, we would have seen hundreds of investors emerging everyday hoping to make it big. Investing in real estate includes risks that only few bold entrepreneurs can think of taking.
The bottom-line of investing in real estate is that the investor needs a good volume of capital and a thorough knowledge about the real estate scenario.
Need to know about Real Estate Loans!
Real Estate Loans
One should have a clear idea about the transaction break-up before going for real estate loans. It is a general trend that the purchaser makes a down payment of 20% and gets the remaining 80% of the selling price on loan. If, for example a property costs $450,000, the down payment is of $90,000 and the loan is of the remaining $360,000. Although, this is a typical transaction, loans can go up to even 95%.

Varieties of loans:

There are a variety of real estate loans on offer. The borrower’s objective should be to choose that loan which will enable him to buy his desired property with the down payment he can afford to make. Making the total loan cost minimum should be another major objective.

Two major loan types are:

a) Fixed Rate loans: The rate of interest remains constant or fixed throughout the term of the loan, in case of fixed rate loans.
b) Adjustable rate loans: The rate of interest changes from time to time and does not remain constant throughout the duration of the loan, in case of adjustable rate loans.

General term of the loan:

In a typical loan scenario, the term of the loan generally is thirty years. If the borrower is capable of paying a higher amount monthly, then he can go for the fifteen-year loan. That proves more economical in the long run as the interest rate drops down by 5% and fifteen years of payments also get saved.

Real estate loans are not a cause of worry if one formulates a financial strategy when he first decides to purchase a property.

I have many friends in the Real Estate business. Seems it has almost come to a stop for alot of you in the business. If you are serious about your business, you have to market yourself. I know you know all of the tricks and marketing secrets, and I’m sure, if you are with an agency, they have a website. But, did you know that you could build your own website and get so much more business.

Here is your chance, build the better website! If you have the right website, the business will come to you. You can attract your clientele by selling yourself.

Give out your knowledge, be informative, and build relationships. This is the best way to do it. Everyone is using the “information highway” You and I both know it. Don’t miss out on this. I personally have learned so much about building websites and believe me I knew nothing before this great opportunity fell into my lap. Having your own personal website is letting everyone know, you are on top of your game. You are ahead of the pack. You can give out free advise on selling a home, buying a home, etc.

Teach your clients something and they will learn to trust you and believe in you, and that’s how you grow your business. If you are a new Realtor, or if you are a seasoned one, take this step in building your own personal website. There are many webhosts out there, but make sure you use one that will help you along the way and teach you the proper ways to get your site out there. No quick set ups, take your time and do it right the first time. Save yourself alot of headaches by using a host you can trust.

If you are passionate about your business, like me,take just a few moments, you will be glad you did.

By: Kim Pinzini

Did you know that there is a heated debate occurring within the real estate world right now? Some people thrive upon renovation, but others will warn you to stick with the bare minimum.

While a lot of people have suddenly decided that renovating an entire home is the only way to go, others have found that modern renovations can really detract from a home’s overall worth. It’s true, many renovations will automatically push some potential buyers away, but if you do not fix up those things that are eye sores, you may be sending buyers away as well. So, what should you do when it comes to preparing your home for sale?

First, let’s point out the obvious - if your shutters are hanging by their last nail, and your roof is completely bald, you will need to renovate. There are some repairs that are just necessary, so take a careful tour around your property (inside and out), and note those things that would immediately send buyers away. However, when it comes to the inside of your home, modern is definitely not always better.

So many beautiful, historic, homes have been ruined by contemporary walls and built in wall units. Before you decide to renovate, understand the true value of your home. If you plan to market your home as some sort of historic landmark, do not attempt to modernize the interior in any way. Also, if you can afford to do so, try and replace your home’s hardware (door handles, window frames) with hardware from the time period in which the home was built. By following the true nature of your home, you will certainly attract a niche market, and this can be extremely profitable. Then again, not everyone can afford to completely remodel, but there are still some things that you can do to improve your home.

One of the simplest things that you can do in order to enhance your home is to wash the outside of your house. You will be surprised at the difference a good wash makes, and your home will suddenly stand out to those passing by. Also, if you have a very old front door, apply a quick coat of varnish or paint, and watch your home’s exterior transform. Lastly, make sure to wash your windows and clean your window screens, a home that has dirty windows will take on a dull appearance.

For now, the debate continues, but you will have to decide whether or not to fix up your home when it comes time for you to sell. Chances are, there are some areas of your home that need a bit of touching up, but renovating that great old farmhouse may not be such a great idea after all.

By:  Raynor James

Owning a property can be a great asset if it is taken care of properly and the value of a property can also be increased sometimes significantly by making some simple changes. Perhaps the best way to increase the value of any home is to add an extension. Adding an extra room should be the goal. The kitchen is an important aspect of any home and making upgrades and improvements to it can also make great improvements to the value of the house.

Adding a garage or a carport if your home does not have one can also impact the value of your home positively. Also make sure to remove as much clutter as possible from your home both on the inside and out as this will give the illusion of greater space which will always attract higher offers. Use bright colors and even adding large full size mirrors such as on closet doors can help to expand the room and again give the illusion of greater space especially in smaller rooms.

Use closed storage units in the bathroom as open shelves tend to look messy and disorganized. A well organized home always is perceived to be of greater value than if your home was disorganized. Make sure your lawn is neat and well mown and weed free. Adding some attractive landscaping at the front of the house will immediately give your potential buyers a great first impression which is always important to draw the highest offers.

Make sure the paint on the outside and in is in good condition because many buyers associate chipped painting with potentially other worse problems like a leaky roof and such so inspect the condition of the painting on your home because it can make a big difference. Replace old ugly door knobs or kitchen or toilet drawer knobs with shiny new attractive looking ones. Make sure the bathroom always looks clean and organized so do what it takes to remove the soap scum and other stains. Many buyers judge the price of the home by the condition of the bathrooms so pay close attention to this part of your home and make sure it is spotless.

Also pay attention to the smell of your home and before any potential buyers enter your home make sure to use a neutral smell or a deodorizer that eliminates bad smells. Giving the best possible first impression is critical in order to get the best offers. Putting up an attractive picket fence or replacing an old worn out fence can instantly help to create a good first impression for both buyers and appraisers. When painting your home always make sure to paint the front outside portion first as that is what people will see first so if your budget is really low then pay attention to that area.

Use light colors when painting the interior portions of your home as this will make the home appear brighter. Also make sure you are using white incandescent light bulbs that are bright. A bright interior is always preferable to a dark and dull one. Do not forget to paint the ceilings too since they suffer from wear and tear also. Adding new windows can also be a potentially profitable addition as it will help to save in energy costs and improve the appearance of the home.

Remember to always consider the return on investment in any project. Take into consideration what other similar properties in your neighborhood are selling for and use that as a guide for what you can expect yours to sell for. Often the simplest and cheapest changes such as repainting or adding a simple fence can give you the greatest return on investment.

By: Shakil Zaman

If this is your first time buying a home, the process to get your first home loan to buy this property, can seem complicated. Your home loan specialist will help you search through all the different types of loans available so you can find the one the best fits your needs. They will also explain all the paperwork that is involved, let you know what kind of documents you will need to provide. Things like W2’s and pay stubs to show your employment, your id, Birth certificate to show citizenship.

Your first home loan specialist will run a credit report to see your past credit history. Order an appraisal on the home you want to buy, this will show the lender that the property is worth the amount you are looking to borrow. Arrange for a Title company to do a search and make sure there are no unknown debts against the home. You will also need to get home owners insurance before you close the deal.

Interest, fees, guidelines and requirements on loans change frequently, so you need a professional who is both knowledgeable and update on the industry. Buying home is a major one of the major decisions we make in life. Like marriage and having children, buying a home is a long term commitment.

There are many rewards that come with owning your own home. After you receive your first home loan, you will have an education in the whole home buying process so if you decide to buy another home in the future you will know what to expect. At the closing you will sign all the paperwork and get the keys. Then comes the moving truck, unpacking and settling in. No worry it will take some time to get things put away and arranged the way you want that’s the fun part.

It is important to keep all of your home buying and loan papers safe and handy, in case you need to refer to them at a later date. Yes you have learned a lot of new things, and meet some new people and you are now part of the American Dream of owning your own home with your first home loan.

By: Hayi Mansoor

Which Builder Is The Best?

When clients come to their agent for advice it’s not uncommon for the client to ask the agent which builder is best or which builder builds the best homes and the like. Any agent who gives the name of a builder as the answer to this question is taking the easy way out to answering a difficult question. As for qualifying a builder to enter the running there are a number of items to address.

• Is the builder financially stable? How would you like to end up with a half finished house and a bankrupt builder?
• Does the builder have reference clients? Ask for references from several subdivisions and ages of homes. You don’t want to have a zillion problems 2 years after you move into the home.
• What does the builder do in-house versus subcontracting? Who manages the home construction? Who does the actual work. You’ll want to know who the subcontractors are because they will be the ones building the house for the most part.
• How does the builder ensure quality construction? The answers to this vary widely and anything that sounds made up or contrived should set off every alarm in the prospective buyer.

Take copious notes on the answers. Any misleading or untruthful statements here may be important to your cause later and could even trigger Texas’ Deceptive Trade Practices statues should you need to play hardball later. So long as you get satisfactory answers to the questions above you can begin to focus on ensuring the builder you selected is building a safe and quality home for you and your family.

You Are The Quality Control

As you may have already figured out there is no best builder. The process of taking a parcel of raw land and creating a family’s home is long and can be complicated. As with all projects communication is key. As new build clients you should feel comfortable contacting your on site sales representative and Realtor as often as you like. The on-site agent and your agent are there to help and make sure your purchase is smooth. Don’t be afraid to engage them.

• Set a time for a weekly update call with the builder and your agent. Even if your call is 2 minutes on Monday morning and consists of a “Nothing has changed. We’re still waiting on the permits from the city.”, you’ll know the latest and greatest.
• Get the building schedule and hold the builder to the schedule if time is important to you. You may give here to get other places if timing is not critical in your situation.
• Visit the site often and take photos. If you see anything that looks odd or is not what you expected tkae a photo, document the question in email, and contact the builder and your agent IMMEDIATELY. Waiting to see why the builder is clearing a section of the lot that you thought was going to be your treed hideaway may turn out poorly.
• Hire an independent inspector to conduct phase inspections. The builder should be notified before your inspector arrives. Ideally, the builder will notify the inspector a few days before each phase is ready to be reviewed. The inspector typically will come after the slab is poured, after framing is complete, after plumbing and electrical is installed, and after the home is completed.
• Be detailed, but not unreasonable. If you notice something that is just plain sloppy or that will cause you issues later, bring it up with the builder. A lot of times the agent or superintendent may not have noticed what the subcontractor is doing or maybe a change order was missed and you are the first to find out. You are buying a new home, NOT a perfect home. No home is perfect, but a new home should be of high quality and to your specifications.

Be Dilligent

As you’ve discovered, your involvement in the building process can make all the difference. Stay on top of the ball and 9 out of 10 builders will meet your needs and build you a quality home. Sometimes you’ll even run across a builder that will build you a great home, nearly perfectly without your involvement, but why take the chance?

Happy building!

By: Joe Cline

If you are a renter who is tired of paying someone else’s mortgage and want to own your own home, there are many ways to buy a real estate; one of them is Rent to own (RTO) option, a means of acquiring ownership over time without taking on debt. The renter agrees to lease the home for a pre-determined time usually from one to three years. There may be an up-front consideration fee. The seller allows the buyer to lock in a monthly price for the property till it is paid off. This is a way to settle on something that is right for you even if you are not in the position to make an immediate purchase. A lease purchase can make your rent money work for you instead of making your landlord rich.

Similar to a rent to own for a TV you can have a rent to own for a piece of real estate. In this case most sellers that are willing to do this (and there is not many) will want a non refundable deposit on the property, then you pay the landlord rent until you can purchase the property. This is similar to a lease option as well, except all you pay is rent. The deposit is much less than an option and you do not pay the taxes or the mortgage, since you are still a renter. The benefit of doing this is you get into your home with the intention of buying the house at a later date. A rent to own agreement, where the money goes directly to the payment of the home, could be saving you a lot of money in the long run.

This type of agreement works well with those who are new to the housing market or have made a job transition. It also is positive for anyone who needs to strengthen his/her credit or pay off an obligation to qualify for a home purchase. Another advantage to a rent to buy situation is that if you compare how much rent money is applied monthly to the home price, even if it is only 25-50%, it will still be much more money paid on the principal of the house than if you had taken out a loan for it. If you look at how much money goes to the principal payment of a home with a typical mortgage loan, you will find that most of your mortgage payment in the beginning is just paying interest on the loan. The best part about this is that with a rent to own home, you get to live in the home you want to buy while you work on fixing your credit up.

The biggest draw back to this is quite often the agreed upon price is a future price of the home. If you have a house that is valued at $350,000, a rent to own price would look closer to $370,000. That might seem like a rip off, but a lot cheaper than a rent to own with a TV where you would pay 2-3 times the price of the TV over a 5-year period.

This creative process of how to buy a rent to own house is becoming more and more popular because it creates a “Win - Win” scenario. The Buyer is able to get into a home with limited money and credit, and the Seller is able to get a fair price for their home and get it sold more quickly.

Condo properties must surely be the investment of the future. Condo living is like having your own place but without the maintenance. It’s like swimming in the pool without having to worry about the Ph balance.

It’s like being able to walk around lovely, large grounds without having to worry about when you are going to cut the lawn. It’s about having your screen door get stuck without having to get down on your hands and knees to fix it.

And all these reasons are linked to the reason why it may be the investment buy of the future. It has to do with ‘ease of living’ - which has to do with the large numbers of baby boomers who are coming up to retirement age. They may not be into condos yet ….. Many of them may initially want to lead a more active life while they still have a surplus of energy.

However, perhaps by the time they are into their late seventies or eighties they may be looking for the easier life! A life with someone to help with the upkeep: a life in a condo!

The sort of pampering that you can expect in a condo complex will largely depend on the type of service that is offered when you buy the place. The term full service is often quoted, but some full service tariffs are fuller than others!

Before you purchase a condo, check the full service list. Does it have a limit on the yearly number of maintenance calls you are entitled to? Are there routine maintenance checks included in the contract? Is there a shopping shuttle and could you have any input into the choice of shop?

Are there any rules in the prospectus that you would not like to concur with? For instance, are outdoor barbeques allowed on your balcony or patio? Is there limit time for noise at night?

Ask to have the full service list in writing and dated. When you draw up a purchase agreement, have the full service list attached to it as an appendix and have the terms of it signed into the contract.

Make sure that you do not only look into the lay-out of the unit and the facilities offered. There are other important factors. What is outside the resort wall? Anything? It has long been a complaint of condo-buyers that there is no nearby town to stroll to.

How private is the beach, if there is one. If you are considering buying a condo as an investment for possible future sale to a baby boomer, bear in mind that you will be opting for the facilities required by an older person.

Finally, when the sale time comes perhaps you will be too fond of your odd trips to the condo to want to sell it - maybe you should buy two while you’re at it?

By Brett Meade

Do you know, you can save enough money by selling your home alone, and even keep the real estate commission in your pocket? When a home owner sells or buys a home without contacting a real estate agent, the commission he or she was to pay to a real estate agent is saved. By using the “for sale by owners” method for selling you house or home quickly, for a better price, using all the marketing strategies.

If you know the procedure to sell your property using the “For Sale by Owners” method, then you are going to save the huge sums of money that real estate agents take as commission from home owners. if you look critically you will discover that, this real estate agents are normal people just as home owners, who have not gone for any formal training for the buying and selling of homes. You don’t need to be a licensed real estate agent before you sell your own home or go to college. But, you have to be vested with the following points.

1) How to determine the price, and make maximum profit.

2) How to show you home to buyers and save time.

3) You have to know where to place you’re for sale sign.

4) How to negotiate for the best deal.

5) You can also work with a local advertiser to advertise your home.

6) Make sure you know all the documents which will be need for the selling process.

If you can follow the points above very well, there is no need going for a real estate agent.

Truly speaking, being a real estate agent or selling a real estate, you don’t need a college qualification. You just need to be honest and treat your buyers fairly. After all, the home owner knows all the features of the home so; they can even explain to buyers how their homes look like more than real estate agents. It will be good to avoid these mistakes that are always made by home owners, when they want to sell their homes themselves. The mistakes are as follows:

1) They over price their homes.

2) Some price their homes lesser than the required amount.

3) Some don’t inspect their homes if they are clean, before selling.

4) Some waste their advertising budget on local advertisers.

5) They don’t know how to advertise.

6) Some don’t know real estate terms to sale.

If you want to sell your home as fast as possible, based on the local market conditions, the step-by-step instructions be low is going to guide you on what to do.

1) How to advertise effectively for free or low cost.

2) How to call buyers to your home.

3) How to negotiate and seal the deal.

Why give thousands to real estate agents you can sell your home alone and keep the money but you must be prepare to learn the strategies such as: how to arrive at the perfect price. How to prepare your home for sale. Some tricks to help your sell your home faster and for more money. The best way to advertise should be used. You must know how to stage your home for sale.

Many people have attempted to sell their homes privately without success. They later call for real estate agents and paying them the high commission after all. The home owners fail because, most of them are not willing to learn the techniques, which are involve in the selling of a home by the home owner. It can be done, if you have good marketing and negotiation skills and the time commitment.

By: Eric Mabo