All About Realestate

By Lance Mohr

One of the most overused adages that has been around for many years is: Your home is your castle. Of course, the reality is that on a variety of different levels a home actually is far more than your castle. In the end, it will be in your very own home that some of the most precious and memorable events of your life and of the life of your family will be made. However, beyond providing you with shelter and memories, for most individuals their home is the most important investment that they will make in a lifetime. With that in mind, finding the right residence in the Tampa area is one of the most important decisions you will face over the course of your lifetime.

With this reality clearly understood, there are a number of necessary elements that you do need to better appreciate when it comes to your search for the right residential real estate investment in the Tampa area in this day and age.

The first factor that you will want to understand in undertaking the process of finding the right residential home site is valuation trends. As mentioned a moment ago, for most people the most significant investment that they will make during the course of their lifetime is the purchase of home. Chances are this is the case with you as well. Therefore, you need to research the history of property values in the neighborhood in which you are contemplating the purchase of a home.

In this regard, it is important that you do invest in a residence in an area which has enjoyed a trend whereby the value of real estate has increased in a generally uninterrupted fashion. Of course, there is no way to predict the future when it comes to residential real estate valuations. Nonetheless, by researching historical trends pertaining to real estate in the area in which you are looking to make a purchase, you will have at least some basis upon which you can intelligently estimate future worth and value of a home that you may end up investing in at this juncture.

In finding the right residence you need to make certain that you thoroughly research and identify any covenants that might be attached to the real estate. A person investing in real estate normally examines any issues pertaining to zoning. Many people either overlook or do not sufficiently examine covenants that are attached to residential real estate. You need to understand that covenants can significantly effect your ability to utilize a piece of property into the future.

With significant communal development projects underway in thousands of communities across the country, it is becoming ever more important to fully understand issues pertaining to covenants that might be attached to real estate in a certain area as you do go about finding the right residential home site for you, your family and your future. You also need to keep in mind that a covenant bound piece of real estate may end up being harder to sell in the future as well.

Of course, when it comes to finding the right residential home site, you must pay attention to the proximity of the property to necessary community amenities and services including schools, fire stations, shopping centers, commercial districts and the like. The actual livability of a home in the Tampa real estate market as well as its long term value is directly effected by the location of the property in regard to various services and amenities that are offered and available in a typical community.

About The Author

Lance Mohr is your Tampa real estate expert, with over ten years of experience in real estate sales and has been investing in real estate for over 18 yrs. Lance can be reached at lance@lancemohr.com. Please visit http://www.tampa2enjoy.com.

By Tim Dillard

Property investors might have been missing out on something going on in Houston the last few years. While most of the country has been languishing in a housing crisis prices in and around Houston have remained relatively stable. Most of the top homes for sale in Houston have retained most of their market value, and having property in Houston has definitely made a few investors feel safer over the past few months.

Does this mean that it is too late to buy in Houston? Definitely not, because while property prices in this area might be a little on the high side you are also buying the security of knowing that your investment will retain its value even throughout the most trying market conditions. The current crisis brought on by changes to the subprime lending legislation changes has resulted in a slight decrease in home sales in the area in the mid-range bracket, but this has left many of the top homes for sale in Houston untouched.

Houston itself is second on CNN”s list of best new places to live in Texas, and is on the top ten of it”s “best new places to live in USA” list as well. This is largely due to the state of the property market, and the fact that you can buy large, high quality homes in Houston for reasonable prices. These ratings reflect positively on the property market, and are a good indication of future stability and growth.

The reason that the low-range houses (those between $80,000 and $140,000) have been so badly affected in terms of sales is because these are the homes most commonly purchased with money from sub-prime mortgages. Since these mortgages are more difficult to come by since the legislative changes took place, many potential buyers are unable to find funding to purchase new homes.

This is not exactly a pity, because it is creating buyer demand for the top homes for sale in Houston, as well as for some of the smaller homes that are being developed as part of larger planned developments. This is in turn creating healthy seller competition, and agents are doing their best to get everybody the best deals possible whether they are entering the market or leaving it. There is no such thing as a win-lose sale in Houston at the moment, as home sales are working out equally fairly for buyers and for sellers.

Buyers are getting the upper hand slightly in that certain sellers are becoming more eager to sell as they fear the coming housing crisis. However, local property analysts claim that there is very little to fear, and you will do equally well by selling your home in Houston at the moment, or hanging on to it for a year or two. If you are looking to buy this lull in home sales presents a perfect opportunity to buy one of the top homes for sale in Houston for a little less than you would have paid a few months ago.

The suburbs of Houston are especially safe for children, and many of the schools in the area have been given incredibly positive ratings by independent school evaluators and parents alike. Whether you are looking in the lower price brackets or the upper limit of luxury homes you can usually find some good buys in desirable neighborhoods.

An investment forecast for most of the top homes for sale in Houston looks promising, with homes returning anywhere from 9-21% depending on location, age and several other factors. Investing in Houston real estate is almost always a good idea, but recent developments have created some interesting opportunities for savvy investors. Anyone looking to buy property in the greater Houston area would do well to keep their eye on the listing, as well as taking a drive around the area to see if there are any bargains that nobody has caught on to yet.

About The Author

When you bring together outstanding home builders, exemplary Fort Bend schools, century-old trees and tons of recreational amenities, you”ve got Sienna Plantation. Visit http://www.siennaplantation.com for more information.

By Jeffrey Rich

I live in a college town in North Carolina where there is a shortage of on-campus housing and, therefore, a constant demand among students for off-campus rental housing.

Among these students is a daughter of a friend of mine who attends the college and who had problems with an off-campus rental. We”ll call this young lady Nancy. Nancy and her father approached me about the situation knowing that I was a real estate broker with property management experience.

In January, 2006, Nancy picked up an application to rent an apartment unit from ABC Management Company (not the real name of the company). ABC advised her that she was taking over an existing lease from another student tenant who had already vacated the property.

When Nancy asked to have a new lease drawn up between her and ABC, she was told that this was against company policy. Apparently, any student who vacated prior to the lease expiration had to be replaced with another student tenant who would take over and be bound by the terms of the existing lease.

So, Nancy was not allowed to create and sign a new lease in her own name with ABC; she was expected to step into the former tenant”s shoes and assume the obligations of the former tenant under that existing lease. As Nancy turned in her completed application form and fee, she was told to complete a Change in Tenant form with her application, which she did, without even being given the chance to sign or receive a copy of the existing lease!

Lesson #1 for Nancy: Don”t ever bind yourself to a rental agreement (or any legal contract) that you have not had a chance to review thoroughly! It”s just plain bad business practice to agree to a contract that was made with a third party and then assigned to you if you have not had a chance to fully read, understand and agree to the terms!

Another odd circumstance is that Nancy was allowed to move into the rental unit without final approval of her application! She was told to pay a Security Deposit of $175, which she did, along with her pro-rated January rent. She moved in on January 18.

Then, from that date through April, Nancy faithfully paid her rent on time. Repeatedly, she made several inquiries to ABC”s office about the status of her rental application and the signing of her lease. Time and again, ABC said the application had not been processed and that the lease was not in the file; apparently, it had been misplaced by one of the staff members.

Two months into her tenancy, with her application and lease documentation still unresolved, Nancy was asked to pay an additional $175 in security deposit for a total of $350. Then, to add insult to injury, ABC misplaced her April rent check. So, Nancy had to put a stop payment on that check and issue a new one to pay her April rent.

Understandably, Nancy was thoroughly exasperated with ABC mis-Management Company. It was at this point that she and her father contacted me for help. I made an appointment to see the Broker-in-Charge of ABC Management with Nancy.

I advised John (not his real name) of ABC Management of the details of the events reported above. Per my suggestion, Nancy had a thorough written record of what had happened and when (a timeline, so to speak) so John could hardly dispute the facts as we presented them.

The ABC staff finally produced a copy of the existing lease which they had imposed upon her despite the fact that Nancy had never seen nor signed the document. It required a 60-day written notice for termination. I argued that Nancy was in effect a month-to-month tenant because she had never agreed to the terms of the existing lease and there was no written lease in her name as the tenant. Under North Carolina law, a month-to-month lease in the absence of a written agreement requires only a seven (7) day termination notice.

Nancy wanted to terminate her lease in seven (7) days and receive a full refund of her security deposit. For good measure, I made a somewhat veiled threat to John that I might report his company to the North Carolina Real Estate Commission if he did not comply. Acknowledging that his company had mishandled Nancy”s rental situation, he readily agreed to these terms and the lease was terminated.

What had developed into a tenant nightmare was eventually resolved with a happy ending for Nancy. Unfortunately, first-time or inexperienced tenants, usually students who are busy and not aware of their rights, are often taken advantage of in these off-campus rental situations.

The moral of the story? You can avoid Nancy”s bad experience, or worse, by taking several precautions:

1) Never commit to any rental/lease agreement (or any legal contract) unless you have had the chance to review it, agree to it and receive a copy of it;

2) Be sure to create a new agreement with the property management or leasing company as opposed to inheriting an assigned lease from a former tenant (a disreputable company might even try to make you responsible for the previous tenant”s unpaid debts for back rent, utilities, etc.);

3) Know your rights and be bold in asserting them. If you suspect that you are being treated unfairly, especially by a management or leasing company, call the state”s regulatory agency, i.e., a board of real estate commissioners usually appointed by the governor, that regulates real estate brokers/property managers. Describe the situation to the legal department. Find out if what the company is doing is legal and equitable;

4) Keep a timeline of any suspicious treatment by the management/leasing company or landlord so you have a written record of the facts. Don”t inject emotion or bias into the situation; just detail what happened. Chances are that this will work in your favor if your case winds up in court.

About The Author

Jeffrey Rich is a NC real estate broker specializing in rental property management, real property appraisal and real estate sales. He has been in the real estate industry for 22 years. For more answers on rental property and real estate matters, visit http://www.InfoOnREI.com.

By Hans Hasselfors

Although this is a pretty straightforward question, how many individuals do you know that ever take the time to ask, and receive an answer? Not very many. More often than not, the question of a home mortgage isn”t pondered until there is a desire to purchase a home. For the purpose of this article, we”re simply going to examine the home mortgage, and the variations that exist in the mortgage market today.

A home mortgage is a loan furnished by lending institution to a buyer for the purpose of procuring residential property, are a home of which to live. It”s that simple, the definition is that simple; the actual process is anything but simple. How do you approach mortgage lenders and what information what you need to furnish?

Mortgage lenders today, thanks to all the federal regulation, default rates, and identity theft in existence require more information than ever before. The mortgage application is sometimes a 10 to 15 page application that will ask questions pertaining to your life years prior. Why does the mortgage company want history? The lender simply needs previous addresses, previous jobs, and previous education to gain greater insight and opportunity to know the borrower. It is not entirely impossible to steal someone”s identity, gain access to their current information, even from three to five years prior. What is impossible is to enter the mind of the individual and gain access to relevant work history or education history.

Generally, when you complete a mortgage application there”s also a mortgage application fee charged at the time you submit the application; why do the mortgage lending institutions charge an application fee? Mortgage companies charge a fee because it cost money to process application, and only serious applicant”s warrant the time and expense.

What other information will be necessary to furnish when completing the mortgage application? Generally a personal financial statement, the proposed mortgage amount, and any legal judgments against you such as bankruptcies, tax liens, or federal student loans will be requested at the time of application submission.

Now, what have the mortgage products are available to the mortgage borrower? The most often used mortgage product is the fixed rate mortgage; the next in line would be the adjustable rate mortgage, and the newest member of mortgage products would be the interest only loan. The interest only loan is gaining in popularity at an ever increasing and phenomenal rate of growth. The fixed rate mortgage provides the borrower with a fixed interest rate for a specified number of years, generally 10, 15, or 20 years as a set monthly payment. The adjustable rate mortgage is exactly as it sounds; the interest rate for this type of mortgage is adjusted at set intervals generally no less than six months no more than 12 and the amount of the monthly payment will vary according to the adjusted interest rate. The interest only loan is quite frankly, the least consumer friendly of the three and today the most popular of the three. When you take at an interest only loan, you may payment of only interest for a specified number of months or years on a loan that has been amortized for a greater number of years, usually 20, and at the end of the interest only term, your payments will reflect interest and principal payment. It”s at this juncture that many homeowners cannot afford the interest and principal payment. That”s why this mortgage product is the least consumer friendly; it does however make the most profitable lending institution.

I believe you should now have a much clearer picture as to what a mortgage is, why you complete a mortgage application, and the basic mortgage products available. If you are considering the purchase of a home, please take a moment to visit a local lending institution, a local realtor, and the web site of the Housing and Urban Development Department. You, as a potential homeowner can never obtain too much information.

What are other resources that can be accessed to learn about the mortgage process and your available options? Get online, check out the advertised lending companies there; look at the information they ask for, the products they offer, and then do some comparison shopping. Often, you will learn as much about what you don”t want, as what you do want.

About The Author

About the Author:
Hans Hasselfors is the founder of http://www.SubmitYourNewArticle.com. You may find varied home mortgage articles in our article directory.

By Hans Hasselfors

Real estate investing is always good and sometimes it”s red hot. When it”s hot dozens of real estate seminars begin rolling across the country and thousands of people spend thousands of dollars for investing education.

It”s startling to learn that of all those thousands of eager folks who attend these seminars only about 5% buy even one investment house. Why? The real estate gurus sell the “sizzle” and make profiting from real estate sound easy. The truth is that it”s simple, but not easy.

Here”s a quick plan that will enable anyone to begin building financial independence.

There are basically four steps to investing in single family homes:

1. Buy homes below full market value. Yes, people really do sell homes for less than the home”s full value. The key is to understand that most home owners will only consider a purchase offer that is all cash and within 5% to 10% of their asking price.

The successful investor learns to find financially distressed home owners who have no choice but to sell for less than market value. They have lost their job or been suddenly transferred; they are divorcing; they been living beyond their income; the family has been overwhelmed with medical bills and, not uncommonly these days, their money has gone to support a drug habit.

Those are examples of motivated sellers. They have to sell and they will accept something other than a conventional, all cash offer.

2. How do you find motivated sellers? You work at it! Like any business it is important to develop a little marketing plan. One that is simple, yet very effective, is the one that was proven 75 years ago by the Fuller Brush company; door to door sales.

You are selling your skill as a home buyer to people who must sell. Your are there when they need you and you have the skill to help them solve at least part of their problem. With door to door prospecting you will learn more and buy more homes quicker than any other method. However, most people just won”t walk door to door for three or four hours per week. OK, there are other ways.

You can watch public notices for the announcement of foreclosure sales. Meeting with a home owner right after they”ve received a notice that they are about to lose their home allows you to deal with a very motivated seller. Other public notices that provide buying opportunities include probate, divorce and bankruptcy. You can follow the Homes For Sale listings in your local newspaper or Internet site.

You can telephone the names found in these notices or, and this is the least time consuming, send a postcard expressing your interest in buying their property. It will produce buying opportunities, just not as many as personal contact.

3. After you”ve found a motivated seller you must understand how to frame offers that provide benefits for both you and for the home owner. A good real estate investor quickly learns that this is not a business of stealing property, but of solving problems in a way that benefits the seller.

The home owner is in a tight spot of some kind and you can save them from public embarrassment and, in most cases, give them at least a little cash to get a new start.

No investor can afford to leave cash in every deal. No one but Bill Gates has that much available money. You must use creative techniques like, leases, option and taking over mortgage payments. Little or no cash is needed for those deals. You can find plenty of reasonable priced educational material on those subjects in book stores or on EBay. The same education that seminars sell for thousands of dollars.

4. You make your profit when you buy! Never make a purchase until you”ve carefully determined exactly how you will get to your profit. If you hold it as a long term investment will the monthly rental income more than cover the monthly mortgage payment? Will you sell the deal to another investor for fast cash? Will you do some fix-up and sell the property for full value? Will you quickly trade it for a more desirable property? Have a plan before you buy.

There you have four steps that even a part-time investor can execute in three to four hours per week. What”s the missing ingredient? Your determination and perseverance. If you will unfailingly follow the plan for a few months you will be well on your way to financial independence.

About The Author

Hans Hasselfors is the founder of SubmitYourNewArticle.com. Find varied real estate articles in our article directory. Please visit at: http://www.SubmitYourNewArticle.com