Archive for June, 2010
Is Real Estate Investing Dead
If youve been paying attention to the news lately you may be under the impression that the bottom has completely fallen out of the real estate market and that theres very little if any opportunity left in the arena for those in search of serious profits. Just watch the nightly news. Theyll tell you just how bad it is out there and how everything has turned for the worse in every way shape and form.
The doom and gloom analysis that litters the airwaves blogs and newspapers these days is reinforcing this bizarre notion that real estate investing is a fools errand. People make a point of trumpeting the bad news about the economy leading even otherwise reasonable people to worry about the reasonability of sinking even a single dime into real estate.
In the final analysis though thats all misleading. What those doomsday prophets arent telling you is just as important as what they are screaming day after day. You see the downturn isnt a onesided thing. It may be whipping those who went into the market and didnt protect themselves adequately but its also kicking open door of opportunity left and right.
The socalled collapse has led to a fast market overcorrection. Right now many properties are wildly undervalued and sellers are far too motivated to hold out for the right deals. Real estate investing has never seen happier days in that senseits a lot like shopping a sidewalk sale. The deep discounts are everywhere and smart buyers should be snapping up winning properties as quickly as they can.
Thats the real investment story of the day. Instead of focusing on the ugly side effects of a market meltdown for some we should be paying attention to the real estate investment opportunities its creating.
Remember all investing boils down to a very simple formula: Buy low sell high. Right now buying low is easy. In time selling high will be just as easy. If youre ready to get into the market the right way and have a willingness to hold your position until an overreactive market comes to its senses its a great time to get into real estate.
Dont let the horror stories and the pessimism turn you off to real estate investing. You should be seeing current market conditions for what they area great chance to get into wonderful properties at a bargain rate. Your dollars can go farther today than they have at any time in recent memory. The cutrate deals you can ink right now have the potential of being some of the biggest winners on record.
They say that every gray cloud has a silver lining. That may not be the best description of the current situation though. The lining in the current real estate investing cloud appears to be nothing less than solid gold.About the writer: Get more Real Estate Tips and other investing resources from the Investors Oracle at http://www.investorsoracle.com
Is A Landlord Tenant Lawyer Worth Your Money And Time?
The services of a landlord tenant lawyer are crucial whether you are a new landlord or have been renting out your properties for years. The simple fact is that you will need legal advice on landlord tenant issues at some point in time. Whether the matter is trivial or urgent getting the right legal advice is vital.
While you may be reluctant to shell out cash to hire a lawyer doing so may actually save you more money in the long run. Your lawyer can help make sure that you comply with all relevant landlord laws and safety regulations to avoid stiff fines and penalties. He can also help you draw up contracts and lease agreements to protect your legal rights.
What are the Issues that a Landlord Tenant Lawyer Can Help You with?
A lawyer can help you out at all the stages of renting a property from screening tenants to an eviction should one become necessary. For example you may think that screening tenants is a simple matter but you should know that you could be slapped with a discrimination lawsuit if you run afoul of antidiscrimination laws.
While you can certainly use a standard lease agreement it’s much better to make sure it is tailored to your own situation. At the very least your lawyer should review the agreement to make sure it’s not missing any critical provisions that could provide you with protection in the case of property damage late rent and so on.
If you do have tenants that cause problems a good landlord tenant lawyer can also help you collect late rent recover money for damage caused by tenants and even evict a tenant if necessary.
If your tenants turn nasty and decide to sue you for counterclaims you will definitely want have an experienced lawyer by side to defend against any counterclaims no matter how baseless those claims may have.
Choosing the Right Landlord Tenant Lawyer for Your Rental Property
Now that you what a landlord tenant lawyer can do for you just how do you go about choosing one? Fortunately there are several resources that can point you in the right direction.
First contact your real estate agent or mortgage professional for their recommendation. These professionals can often provide a reference to an experienced attorney. You can also contact the lawyer association in your county or state for a referral. Make sure there is no past or pending disciplinary action on the lawyer’s record.
If you have a family or general practice attorney chances are he or she can provide a referral as well. If all else fails you can look in the yellow pages but this is a bit like a stab in the dark so leave it as a last resort.
Even if you find a big name firm this does not guarantee that the lawyer is competent though it will probably guarantee you will end up paying high fees!
Once you have a referral call around for a quick phone screening. Find out how many years of experience the attorney has and choose someone who’s been practising real estate law for a minimum of 3 to 5 years. Find out about his fee structure and billing rates; also ask what tasks are billed hourly and which ones are billed on flat rate.
Finally make sure the landlord tenant lawyer you choose is attentive and willing to work with you. An experienced lawyer knows how to tailor their services to meet your needs. Think of your lawyer as an assistant in your rental business. Choose wisely and the advice you receive will be well worth the money you spend.
Teo Zhenjie has been showing landlords how to manage their tenants and rental property effectively on Propertydo http://www.propertydo.com/ To learn more important tips on landlord tenant lawyer visit his website today for stepbystep real estate guides free resources and forms.
About the writer: Teo Zhenjie has been showing landlords how to manage their tenants and rental properties effectively on Propertydo.com http://www.propertydo.com/ Visit his website today for stepbystep real estate guides free resources and forms.
Irresistible Techniques For Selling Your Home
New signed purchase agreements are down 17.7 per cent from this time last year in Minneapolis Minnesota. There is always an annual pause in realty at this time of the year so it is not surprising that buyer activity is reported as slow at the moment. If you are living there or in one of the many other places suffering a slowdown you may like a few downtoearth tips for beating the competition and selling your home.
However there are several steps you can take to make sure that your home gets a fair chance. The very first chance you have at getting a buyer is to ensure that they SEE your home the second chance is to ensure that they will be IN your home and the third chance is in offering an INCENTIVE to close the deal.
With regard to the first chance of ‘seeing your house’; over 80 of all buyers browse the Internet first when choosing a home. Make sure your real estate agent has a great spread of your house on line on his web page.
The main picture is the one that will attract viewers into the virtual tour. If your home has beautiful trees in the garden get him or her to step back and get some greenery in the photo. Wait for a sunny day; it makes a lot of difference.
If you have not chosen your real estate agent yet go on line to the realty sites and see which one is most userfriendly. Can you just click on the houses you want to look at? Do they access the virtual tour very easily? Or did you have to fill in lots of details about yourself first? If so forget this site people loose interest too easily!
There are still people who drive by so display your agent’s board and make sure the clutter is kept in the back yard and not the front yard. Remember to put on your lights at night so the house looks warm and welcoming. Park your own car in the garage so that the driveway is clear to show the house at its best.
If the first step is completed then the second chance of buyers ‘being in your home’ should automatically follow. Here you can use your discretion a little. If they casually ask if something is included in the house think before you answer! Do you really need it? Might it clinch a deal?
If it is such a thing as the perfect drapes for the living room or the kiddies swing set you could just answer in a positive way so that nothing is ruled out. For instance “It could be included.”
Remember to try and view your home the way a stranger would and remove all clutter to keep it looking spacious. Invest in a plug in air freshener right near the front door. Put on all your lamps and try a pink bulb in one of the living room lamps to give added ambiance.
If an offer comes in cherish it and try and nurture it. Obviously it will be less than you want in these days of the buyer’s market but these buyers have chosen your house so work with this. What incentives can you offer to them while you push up the price? Perhaps the swing set or perhaps some other financial help. Money talks as they say.
If their lender offered less financing on your home than the buyer expected they may be short of cash; many sellers before you have clinched a firm deal by offering to pay the closing costs.
This saves their actual personal cash as the mortgage will cover most of the house purchase so it is good incentive. Do not offer this without your real estate agent’s agreement as it must be part of a firm and legally binding deal for you.
Why would you help someone to buy your house? Only you can decide if it is worth ‘giving away’ maybe three or four thousand of your own cash to actually sell your home.
Lowering the price will just delay the paperwork allowing for changes of minds and also it will not solve the problem of the buyer’s immediate cash flow. Life needs strange solutions for strange times but it will be your final decision to make.
About the writer: We’re a family operated full service real estate agency with 17 REALTORS specializing in Minneapolis real estate. Browse our listings right now to see Eden Prairie real estate listings or contact us for a one on one consultation. For more information visit us at AssociatesRealty.net.