The Real Estate Briefings

Selling a house has many facets. But there is one room in a home that will sell a house faster than any other. This particular room is considered the heart of the home and is most often the focal point of any activity.

This is the place where you sit early in the morning with your spouse, drinking coffee and talking about the day ahead. It’s also the room where you work with your children on their homework. This room is where family gathers to enjoy the time together, laughter and good smells.

This room is the kitchen. Most people will want to look at the kitchen before anything else when looking at potential homes to buy. That’s because it is the heart of the home. Some think it’s the living room but it really is not.

No one really wants an outdated or tiny kitchen. But there are things to do to a kitchen that will make it warm and inviting and much more appealing than just a little room.

Repaint the kitchen in neutral colors. This way it can be decorated to anyone’s taste. Update the appliances to more modern and energy efficient ones. More people today are concerned with conserving energy and this will be a big draw to selling a home.

Change the drawer pulls in the kitchen to reflect the new modern look. These are inexpensive but can bring a unique touch to any kitchen. Update the faucets. Faucets have a wide price range but you can still find very nice faucets for less than you think.

And finally, remove the clutter. A clean, streamlined kitchen will make the kitchen look bigger and showcase it to it’s best advantage.

All across the country are commercial properties just waiting to be used again. For someone who has always wanted to go into business now has numerous locations to choose from. With so many choices, a new business owner can start out with the right financing and possibly the perfect location.

We always hear about location, location, location. This is true and many are re-thinking the older building simply because of the location, preservation of older buildings and the vintage look.

It is easier to buy an older commercial property and renovate it than it is to build a shiny new building. On top of that, the look and feel of older buildings can bring a unique look to your business. It’s just a matter of utilizing the architecture of older buildings into something that reflects new and modern as well.

The lease on some older buildings is also very attractive to potential business owners because a lease on an older building can sometimes be much less than a lease on a newer location and probably not have nearly as much space.

Take virtual tours online of several commercial properties so you can see what the inside of some look like before you speak with a lender. You can do these tours online from your home and can take your time so you won’t feel pressured.

Speak with several lenders to see what the best interest rate you can get could be before visiting a real estate agent. It is especially nice when you have found something and then only have the real estate agent show you what you like. This saves a huge amount of time and effort on your part.

If you are at the stage of signing a contract with a real estate agent you are probably wondering about the differences of them or thinking they are all the same. They are different and have different values to you.

Most real estate agents have three contracts. They are:

• Open Listing – A non-exclusive contract where the seller can sell the property on their own. This enables the seller to use any agent they choose and then only have to pay the agent who actually sells the home.
• Exclusive Agency Listing – The agent will represent the seller. The agent can also bring in another agent who may have a buyer and the seller will pay both fees.
• Exclusive Right To Sell Listing – This is the most common used as the agent will have full rights to sell the property. The seller will pay all fees and commissions.

There will typically be other conditions included as well such as length of listing, the type and amount of commission to be paid, any cancellations of contracts or expiration of contracts.

Be careful of cancellations with real estate agents. Reputable agents will have a clause about cancellations in the contract. You definitely don’t want to do business with someone who refuses to let you out of a contract even if you are unhappy.

Also be careful of the amount of commissions you will pay out. Be sure you understand this carefully so that you don’t end up paying much more in commissions than you thought.

There is a difference between getting Pre-Qualified & Pre-Approved. A Pre-Approval is a document from the lender that confirms to the borrower a loan up to a certain amount based on a completed loan application, credit check, and possibly tax returns and employment verification. This Pre-Approval goes much further with a seller when submitted with an offer as opposed to a Pre-Qualification letter.

A Pre-Qualification is a document from a lender that basically just states that they will give you a loan based on your meeting with the lender and the information you give them about your financial situation. Neither document are an absolute guarantee that the lender will extend the loan money one or more months down the road. A reason for this is that a financial situation can change a lot before the closing date for a loan.

It’s imperative that buyers in escrow understand that they may be subjected to last minute credit checks and funds verifications during the process. As long as you remain conservative throughout your escrow period when buying a house and keep your job through that period of time, and no purchasing any credit items, your pre-approval letter from your lender is most likely a given. Remember, pre-qualifying & pre-approving is not a binding contract requiring the lender to extend the loan, nor is it a requirement for you to take on the loan. It’s simply your first real step in preparing to submit offers.

If you are wondering why you just can’t do this at the last minute, lenders do not close on mortgages until you have found the home you want to purchase. The pre-qualification enables you to see your buying power, and your pre-approval enables you to quickly get started on the home buying process.

It is more difficult to qualify for a loan because the lenders have become much more conservative in the mortgages. But a balanced combination of credit, job history, tax returns and debt analysis will land you the loan you’re looking for.

Now that we have discussed the important reasons for getting qualified, choose three good lenders and shop them all for rates and qualification letters. The beauty is that you can get qualified anywhere, and it does not require you to use that lender for your mortgage. This allows you to keep researching for that perfect rate. Rates are constantly changing, so find a rate that fits your loan.

The younger generations have not had the pleasure of growing up with 8 track tapes, no cell phones or computers. Some are even asking the question, what is a starter home? This term is a throwback from post WWII. Not many real estate agents or lenders use this term anymore, so there are a lot of people who don’t know what it is.

A starter home is a term for a type of housing that is usually inexpensive, not very big and something young folks just starting out can afford. It most typically will be a small one or two bedroom older home. Sometimes it will be new but small in a new subdivision. You’ve seen some subdivisions that have very small housing in one section and as you drive through, the homes get bigger and more elaborate. The smaller ones are considered starter homes.

The term “starter home” came about after WWII so that returning servicemen and women could begin life with a family in order to realize the American Dream by owning their own home. In this way, homeowners could get into a home with a smaller down payment. Then, as income and family grows, they sometimes would buy bigger homes, but the starter home was their first stake in owning a piece of property.

In today’s world, a lot of the starter home definition has changed to condominiums or bigger homes from the start. There is nothing wrong with this at all, but in today’s world the mindset that we want what we want when we want it sometimes gets them into trouble by biting off more than they chew from the very beginning.

Due to the economy and the current condition of the real estate markets, it’s time to rethink the older ways and start slowly so as to not bite off more than we can chew. There is always time to invest in something bigger and better along the way.

Some are wondering if now is a good time to even invest in any type of real estate. Some are worried about the current state of the markets, the economy and current job situation. There is good reason to worry, however, if you have the financial backing now is a good time to invest.

The interest rates are the lowest they have been in years, home and commercial property prices are lower and there are a lot to choose from. It is truly a buyer’s market right now. But, it may not always be that way.

This year, it is expected that the markets will stabilize and even rise slightly. There is a narrow window right now but once the interest rates start rising, that window of opportunity will start closing. That’s not to say it will happen suddenly, but the longer you wait the greater chance property prices and interest rates will rise.

When investing, you always want to turn a profit. Right now, it is possible to turn a really good profit on something. If you can combine a really low interest rate with a really low price on a piece of property, your payments will be lower than expected.

And, on top of that, once the markets do rise and you have invested several years into the property you will have a very real chance of doubling your money if you decide to sell it.

There are always going to be pros and cons of any investment dealing. But, it’s only going to be up to you to determine if you want to, if you can afford it and if you can hold on to it for a while until the markets turn to a seller’s market.

With that said, now is a good time to invest in real estate. It can work in your favor and it will be a helpful boost to the markets.

With the interest rates as low as they are in a number of years, first time home buyers are eyeing the markets more than they have in the past. Now is a good time to buy for first time home buyers, that is if they have several things in place before actually looking at homes.

A lot of people get in trouble and think they can’t buy a home because they’ve gone out and looked at homes first and then tried to get funding. Typically, that’s the way it was in the past. But, with the real estate markets in the shape it’s in, it’s better to have funding, credit scores, down payments and out of pockets expenses ready before ever even looking at homes.

This will ensure that you stand a better chance at a first time home buyer mortgage without all the frustration. Things to consider include:

• Credit Scores – Check your credit report before anything else. Typically it should be done several months before actually trying to buy a home. Lenders are looking for those who have around 700 for their score. Study yours and clear up any discrepancies or duplicates. At the same time, do not purchase any big ticket credit items as it will lower your score when the time comes to look at homes.
• Down Payment and Out-of-pocket – Make sure you have at least 5% of the total cost of what you can afford for a down payment. Some lenders will require up to 20% but there are some federal funding grants that have a lower percentage. Additionally, make sure you have additional cash for any closing costs, inspections or insurance. This avoids any last minute surprises.
• Debt to Income Ratio – Calculate how much you can afford on a new home. The monthly payment should be no more than 30% of your gross monthly income. But, it may be better to figure the monthly income at 30% of your net monthly income. Otherwise your ratio may be too high.
• Pre-approval – Speak with various lenders to get a pre-approval status. This always helps when looking at homes. You already know how much you are approved for and can avoid looking at higher prices homes.

Once you have gotten everything in order you can then visit a real estate agent. They will then be better able to find something that definitely fits your criteria. You are now on your way to owning your first home.

Since current interest rates are low, now could be a good time to refinance your home in order to lower your mortgage payment. A lot of people are realizing that getting the mortgage paid off is the best way to put money in your pocket in the long.

Of course, paying anything off early means applying more money to the principal than just the minimum monthly payment. It can be hard for some to do. However, if you would pay a little extra each month you will pay it off earlier.

There are several ways it can be done. It just take a little ingenuity on your part and a willingness to do it. Instead of spending $5 every day on a Starbucks coffee, put that $5 bucks aside. By the end of the month you will have saved $150. That is a lot of money to add to your principal each month. If you do this every month, just by giving up Starbucks coffee, you will have paid an extra $1800. Now that makes a difference.

If you make sure any extra payments go directly to the principal, it brings the principal down but it also brings your interest down. Since interest is compounded on the balance, your interest amount will go down more than it should as well.

Another way is to simply make one extra payment a year. On a 30 year note, one extra payment a year to the principal will cut your 30 years down to 15.

Another consideration is to pay any extra money you receive such as income tax return refunds, cash gifts or any sort of insurance reimbursement funds. Any extra amount always helps.

No one is expecting anyone to pay extra that takes away from necessities but if there is something you spend every day that is not necessary, such as Starbucks coffee, cigarettes or the daily soda and candy bar, then give it a chance and see how well it will benefit you.

Mortgage rates are at the lowest they have been in several years. The markets have also been very slow. But they are starting to show some improvement and now may be the time to buy real estate in the Washington, DC area.

Real estate investors as well as others are in a very good position to buy real estate right now. Whether it’s commercial or residential, it is worth thinking about going ahead and buying before the markets pick up any further and the interest rates start rising.

Not only is the Washington, DC area picking up but several areas of the United States are as well. It’s starting to look like 2012 will be a good year after all. Especially if the current trends continue.

Now is a good time to use the best home search ever. An interactive website that has a huge database of homes all across the United States. It is very user friendly and you can easily enter your criteria and in a matter of seconds, you will have many homes to choose from.

One of the best things is the virtual tours you can take while on the site. You can tour homes and find the ones you like right from your living room. It doesn’t get any better than that.

Area real estate agents will be able to find the locations you are interested in and then take a real tour of the home after you have done your research so you know first hand what you want to look at.

Many people are holding out to get the best deals. Now is a good time to start reaching out and seeing what will benefit you before the interest rates begin to go back up. There are no definite predictions when that will happen but signs indicate that it may be this year.

How many times have you seen the most delicious, juicy hamburger on television and thought, “ooh, I want that!”? Visual images go a very long way in touching our senses so that we want what we see. The exact same thing can happen when you sell your home. Lots of images.

If you are thinking of selling your home, seriously considering taking a lot of photos and even a video of the home to add to your listing. People are going to be more apt to stop on your listing simply by the looks of the photo.

You don’t have to go out and hire a professional to do it either. With the technology of digital cameras and camcorders, you can put your home in the best light. All it takes is a little staging and choosing the right angles.

Chances are that you have already or are going to do some touch up work on your home anyway. So, do that first. Such as new paint, clean the carpets, fixing any loose boards or siding, mowing the lawn and making sure pictures and nick knacks are dusted and straightened.

In each room, make sure all electrical cords are hidden and choose an angle that best shows the room. Take several pictures and even consider using diffused lighting. Everyone likes the quiet ambience of low lighting in a room.

You may also consider using a tripod and a shutter button. This will help keep the camera still to avoid blurred pictures. A wide angle lens is also ideal so that you can get more of the room in the picture. It’s also a great way to make a room seem much bigger.

Use a camcorder and do a guided tour from the front of the house, indoors, to each room and give a commentary about what each room is, it’s features and ammenities.

Real estate agents love for their potential buyers to have lots of photos of the home as they know all too well that the photos and videos will be a huge selling point to potential buyers.

And, look at it this way, if the home doesn’t sell, you at least have a lot of photos of your home that you will have for your memories.

It has been an eye opening experience the last few years about jobs and real estate. Many had rose colored glasses on and kept telling themselves that everything would be alright. Others were just not motivated enough to think beyond today. Those two groups likely lost homes and/or businesses. While still others took a stand and made a change.

The way the world operates today is vastly different than even 15 years ago. Hardly anyone now keeps the same job and stays in the same home for 30 years. Most people only stay in their homes an average of 7 to 8 years.

A new type of homeowner has been emerging and it’s worth taking a second look at. New homeowners are combining their homes with their businesses when possible. They are buying property that can be converted to a business and their home. All with one mortgage which puts more money in their pocket.

Home-based Businesses (HBB) are springing up all over the country and people realize they have to do things differently than in the past and they are making quite a success of it. No longer can you think of a home based business as stuffing envelopes.

Searching your local area and/or visiting with local real estate agents will be a great starting point to find the types of property that will be the best options for you in having your own home-based business.

Not only does it bring more income to your pocket but it is also a tax break. This gives you a new way of looking at things and making the future better.

Think about it. Do some research and visit a local agent to see available commercial property that may be easily converted for both that you could be happy with. You just may be surprised at how easy and how much cheaper it may be for you.

It’s been a few years now that the real estate crisis just keeps sliding downward, but have we learned anything from it? We are supposed to learn from our mistakes and consciously try not to make them again, right? Well, there are those who have not, but there are also people who are learning not to make the same mistakes twice, or three times.

It’s been a hard time for all due to the high cost of home sales, foreclosures and the economy. It’s been made worse, some say, by sellers wanting too much for their home, lenders not wanting to work with people and others simply walking away from mortgages that they have decided they can’t or won’t keep up any more.

There are those, though, who have done the right thing and are making a difference in their lives by learning from past mistakes and doing something about their situation. In the 1990′s and early 2000′s, every where you looked people were dipping into their equity on their homes to pay off credit cards or to pay bills that were behind. It didn’t do them any good as they usually were in the same situation again very quickly.

Now, people are learning to pay their bills just like everyone else and quit all the extra spending. This is shown in parts of the economy as people slow down on their spending. It’s kind of like when the older generation were kids. It was a treat to have a coke and a hamburger on Saturday night, not every day. The motto still stands true: “Bills come first.”

More people are choosing to stay in their homes, paying the principal down and doing home improvements in order to stay in their home. It is a home and not an investment to bring even bigger cash in a year or two. Of course, lenders will tell you not to do that, but if you can hold on to what you have, it will be the better choice.

I think we have learned something from the crisis. It’s just a matter of how much and what it means to you.

If you live in the District of Columbia, Maryland, or Virginia, where do you go to search for real estate to buy? I recommend The Best Home Search Ever.

This is a great real estate site provided by DROdio Real Estate.

Not only can you search by city and state, but you can also search by ZIP code. You can choose whether to include townhomes and condominiums in your search results or stick to only single family homes. You can also choose the number of bedrooms and baths that you want to as well as the price range you are willing to pay for your real estate.

When you get your list of properties you can view a drop down for each property with one click. The information available to you includes everything you want to know about a potential property to buy including the MLS number.

The MLS number is handy because if you have your own real estate agent, then you can give that number to your agent and ask them to set up a viewing time. It’s convenient, it’s fast, and it’s free to use.

Another cool feature of The Best Home Search Ever website is you get the tax assessment for each property listed as well. This gives you a chance to see what the expected taxes on your property will be. And you can print the page for each listing you search for as well.

The Best Home Search Ever is a great real estate search website for anyone looking for a home in Maryland, Virginia, or DC.

Vancouver, Washington is a great city to live in if you are looking for a great community that is non-pretentious and affordable. The entire Northwest is beautiful and unassuming with an awesome climate. The below list of neighborhoods in Vancouver, Wa. should give you a glimpse of what kind of real estate you can own in Vancouver.

1. Fruit Valley – It sounds like a good place to live, doesn’t it? The largest neighborhood in Vancouver and the westernmost neighborhood. It is full of natural landscapes that are incredible.
2. Ellsworth Springs – Further east, Ellsworth Springs is near downtown. With a rich history, Ellsworth Springs has grown into a beautiful neighborhood.
3. Vancouver Mall – Mostly a commercial neighborhood, this area has no single-family residential zoning. However, it does have some fabulous upscale townhomes and condominiums.
4. Hudson’s Bay – Once home to the Chinook Indian tribe and the Hudson Bay Company fur trading office, this neighborhood is rich in history and culture.
5. Parkside - The perfect neighborhood for the family looking for the all-American neighborhood. Highly residential with churches, parks, and all the amenities you need.
6. Hough – Neighboring Fruit Valley, Hough is closer to the downtown central business district and features early 20th century architecture that makes it a beautiful place to live.
7. Countryside Woods – This neighborhood started out as a farm owned by a German emigrant. The lot sizes vary making this a unique neighborhood without the “cookie-cutter” feel of many modern neighborhoods.
8. Southcliff – Curbs, no sidewalks, wide streets, and a park. Southcliff is a great Vancouver neighborhood.
9. Bagley Downs – One of the more populated neighborhoods in Vancouver, there is an even mix of single-family homes and multi-family housing.
10. Fisher’s Creek - A neighborhood that offers a lot of privacy with cul-de-sacs, circles, and loops off the main roads. City living with a rural feel.

If you plan to move to Vancouver, Washington, try one of these 10 beautiful neighborhoods or talk to a real estate agent about other great places to live in and around the city.

Buying at auctions can be extremely rewarding to home buyers. You can often get a great deal, buying real estate for pennies on the dollars. But there are some drawbacks and pitfalls.

For starters, to buy at a real estate auction, you often have to come with cash in hand. At a minimum, you need a hefty down payment on the day of the sale, then you must come up with the remainder of the purchase within 90 days. These are not negotiable terms.

Properties sold at real estate auctions are often bank-owned properties. They are either foreclosures, short sales, or REOs (real estate owned). Because it is a bank auction, they want to unload the property quickly. That means cash.

Another common misconception about real estate auctions is that you’ll get a home ready to move into. That’s often not the case.

Because these properties have been vacant for some time, maybe 6 months to a year or more, there are a lot of issues related to neglect. Yards need to be mowed. General maintenance needs to be performed on plumbing and other areas. Sometimes, electrical wiring and plumbing need to be replaced or updated. In short, you should be a handyman or know one who can work on the cheap. You’ll have a lot of work to do.

If you can get past the all cash transaction and the loads of sweat equity you’ll have to put in, then buying at an auction can pay off big dividends in the long run.

Learn more about buying real estate at auctions.

Sometimes, it just doesn’t make sense to buy real estate. You are stuck with renting. And there’s nothing wrong with that. Nothing to be ashamed of. While real estate ownership is a worthy dream and one that many people look forward to, it is realistic to know that sometimes you should be renting.

For instance, if real estate prices are out of your reach, it might be time to rent. If you can’t gather up the funds for a necessary closing, it’s time to rent. If you are living in a location temporarily and know that you will be moving within a year or two, then you should rent.

So where do you find apartments to rent?

HousesApartments24 is a website that offers a search platform for people looking for apartments to rent.

The cool thing about this search site is that you can search by state. You can also use the site’s drop down box to search for apartments that meet your criteria. But that’s not all. When you are done renting and you are ready to buy, you can also search for houses to buy in your area. Or, if you’re ready to move on, you can search for a house to buy in another state.

HousesApartments24 gives you a platform to search for houses for rent, houses to buy, or land if you want to purchase raw land to build upon. There is even a category for “New Homes” – to rent or to buy. And the Advanced Search feature gives you more details to search by that goes beyond the standard room number.

If you join the site, you can save your searches for later reference. I encourage you to check out HousesApartments24 right now.

Like a lot of larger cities, Portland’s real estate community has divided the largest city in Oregon into 8 regions. These regions serve as guiding points for real estate agents and home buyers when searching for real estate to buy. Each region has its pros and cons in terms of real estate value and other points of consideration for serious buyers.

Here are Portland, Oregon’s 8 real estate regions:

1. Downtown Portland – Like a lot of downtowns, Portland is the center of activity for this Northwest city. There is a vibrant night life and a revitalized city with new townhomes and condominiums highlighting the landscape. Home buyers looking for a cozy place to live near the city’s center will find downtown Portland attractive.
2. South Portland – South Portland consists of several neighborhoods between the Willamette River and West Hills. This region includes the historic Lair Hill neighborhood.
3. Southwest Portland – This is one of Portland’s most recently developed regions and has a lot to offer including scenic views and new retail establishments.
4. Southeast Portland – Southeast Portland is rich in parks and provides a great cultural leap into the historic city.
5. East Portland – Once its own city, East Portland was annexed into Portland in the late 19th century. This diverse region has a lot to offer.
6. North Portland – NoPo is the home of the Expo, many industrial businesses, and a light rail that provides access to Portland’s city center.
7. Northwest Portland – The home of neighborhoods with a reputation as great places to retire.
8. Northeast Portland – Northeast Portland has a lot to offer including close proximity to Portland International Airport. Its northern boundary is the Columbia River and the commute to downtown is short enough to make it a great place to live.

If you want a great place to live in the Northwest, few cities have as much to offer as Portland, Oregon.

Idaho is a beautiful state. According to Wikipedia, it is the seventh least densely populated state. That should make it fairly attractive to someone who wants a rural lifestyle and perhaps wants to buy a lot of land.

Even living in the city in Idaho has some advantages. You never see the largest cities in Idaho on a list of the largest cities in the U.S.

Boise is the capital of Idaho. It is also the most populous city with only 205,671 residents as of the 2010 census. So even living in the city in Idaho has some advantages.

But what about buying real estate? If you’re going to live there you might as well grow roots and stay. Right?

There is a website that is completely committed to helping people like you find real estate to buy in Idaho. You can search for real estate by city, subdivision, school, ZIP code, MLS number, or location on the map. That’s pretty flexible search.

Or, you might just want to find a real estate agent in Idaho who can help guide you toward the properties that meet your criteria.

Either way you go, there are communities in Idaho where I’m sure you’ll feel comfortable. You can buy real estate in Idaho and make it a home, or purchase a vacation rental for your favorite time of year. Idaho is a great place to live with great people. Add it to your list of favorite destinations.

Mortgage holders are really struggling in today’s economy. This leaves the door wide open for mortgage re-financers to come in and take everything you have if you are not careful.

It’s easy to get sucked into a scam when you are wanting to lower your mortgage payments in order to save your home from foreclosure. People are struggling and grabbing at anything to help them through the tough times. But be careful, there are those out there who are just waiting to get your home.

Mortgage re-financers, or mortgage strippers will pick an area and inundate that area with lucrative re-financing availability with signs that draw folks in. They will offer to save your home from foreclosure but what they don’t tell you is that your payment will likely be higher than what you presently have. When you can’t meet the payments, they will evict you. Or, they will promise to let you live in the home but you have to pay rent, on your own home!

Don’t do business with anyone that comes to you with these types of terms. If it sounds too good to be true, it probably is. Be sure to check with an advisor, lender or someone to find out if the re-financers are legitimate. Remember, lenders typically do not come to you first. They do have re-financing options, but you typically have to go to them first.

There are several things you can do to protect yourself. But most of all, just use common sense and be careful from the beginning. You don’t want to turn your deed over to someone shady and then you end up on the street.

Whenever you sell a home, it is very important to make sure the home’s problems have been taken care of as well as possible. It may cost you an out of pocket expense but at the same time, you may also be able to increase the selling price of your home to recoup those expenses.

Some projects bring a better value to your home than others. That’s because certain types only appreciate the value of your home while others are just window dressing and doesn’t really add any monetary value to the home.

Fiber-Cement siding is one of the best home improvement projects you can do. If your are able to, replace your siding with fiber-cement siding because you can get up to 78% of your costs back. Additionally, foam backed siding and high end vinyl siding are good choices as well, according to HouseLogic.

Steel entry doors are good home improvements choices that are on the lower end of the cost but can bring 73% of your cost when selling.

High end window replacements bring 69% of costs and are also great home improvement ideas. Nice, clean windows can make a home pop more than anything else and brings a nice return on your investment.

High end garage door replacements can also make a home pop and brings 71% of return.

Beautiful new windows, a clean and trim siding along with a new garage door will make your home stand out more than anything else. So, if you are thinking of selling your home, think of some things you can do that will make it be more attractive to the potentials buyers who will be looking at it.

The real estate markets are on the rise a little bit. Pending home sales are rising by more than 7%. This is the highest it’s been in 19 months, according to the National Association of Realtors. NAR Chief Economist Lawrence Yun states:

“Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.”

This is very good news for the markets. Part of the reason is the job market. It has finally fell below 9% which means there are more people finding jobs right now. That coupled with the recent holiday sales and consumer confidence is getting the real estate industry pointed in the right direction.

The biggest gain was seen in the Northeast with an 8.1% increase. They are still 0.3% below last year, but this increase has really boosted them.

It is a buyers market right now with all the available housing in conjunction with low interest rates. Home values have fallen as well, leading everything to an excellent market for potential buyers. Even investors can get in on the good deals and be able to recoup in no time.

Now is a good time to visit with area real estate agents to find out just what is available for you. There is certainly going to be something that will work for you.

The real estate crisis is still on shaky ground, especially commercial real estate. It is not expected to get any better. But for commercial real estate investors who have the funds, there are great prices to be found anywhere in the country.

The values on commercial property are down about 30%, which makes prices very attractive to investors. They will be able to purchase commercial property for a lot less than previous owners bought it for in the past. However, it will take certain investors to be able to buy the property and still be able to hold on to it for a while, or until the markets pick back up again.

In the Washington, DC area, there are many vacant buildings that are for sale. Some of them can be bought for a song. It is cheaper to renovate these building than to build a new building.

For investors, buying a vacant building and then adding tenants, whether it is residential or business, will be a great way to recoup what they have spent in no time due to the lower values.

This year is not expected to have much of an improvement over last year. But the real estate market needs a jump start with commercial real estate investors looking to buy some of the property around the country, including the Washington, DC area.

Real estate agents in the area can point you to the best locations, including the ones with the best prices. Even if you have never invested in real estate before, now is the best time to try your hand at it while prices are low. You never know until you try. You would be helping yourself with additional income and you would be helping the economy.

Not only is the housing crisis bad for consumers, it’s just as bad for real estate agents. Since selling homes is their livelihood and how they earn a living, they have taken a beating as well. In today’s market it takes more initiative and creativity get homes sold.

In the good years, a lot of agents only had to open their doors and business poured in. That’s good, but it also created complacency. Agents didn’t have to bust their tail to bring in business and now they are struggling. Here are some tips to jump start your home sales again.

Go to the client instead of having clients come to you. If you see someone is interested in a property but still hesitant too, give them a call. You can also send emails with links for virtual tours or other homes that they might be interested in.

Keep prospective customers abreast of any open house showings, anything new that will be coming on the market or simply staying in touch and helping them with anything. If they are unsure how to get incidentals such as what moving van they may need or how to transfer utilities, get that information for them. Let them know you will do what it takes to get them in a home for their own sake, not yours.

It’s also a good idea to use free video chat programs such as skype. It is an excellent way to stay connected to potential customers. You can still talk face to face. Even staying in contact with previous clients will ensure that if they ever sell their home, they will come to you first.

Brush off your people skills and think of other creative ideas that will help your business flourish in hard times. It can only be a positive force for you and your business.

As everyone knows, property deeds and land parcels have been around for many, many years. As the years have gone by, some property deeds have been disputed by property lines. Sometimes, the story of a property gets blurry over time. Because of this, title insurance is a very important piece of insurance when buying new property.

Title insurance is purchased before the final contract is signed on property. This makes sure that what you are buying is what you have been told. County clerks will begin with the present time and work backwards through the records of a certain piece of property.

They are looking for anything that might have affected the property such as right-of-ways, easements, marriage records, tax sales, death records and names of all owners in the past. This will tell them if there are any discrepancies on the property.

Depending on where you live, there are different versions of title insurance that is available to you. Those are:

• Basic Coverage – This includes encumbrances, judgements, incorrect signatures, clear title, property recorded incorrectly, fraud or forgery.
• Extended Coverage – Everything from the basic coverage and including structure damage, living wills, subdivision maps, building permit and covenant violations.
• Basic Lenders Coverage – any liens on the property and any unrecorded documents.

Title insurance can be negotiated on who pays for title insurance. It sometimes will be the prospective buyer, the seller, a portion of the cost from both or be determined by the county you live in. The cost for title insurance varies and will be a one time fee. After that you have it for life.

If you are not planning on staying on the property for a long time, you can also purchase binder insurance. This insurance is typically good for two years. It can be extended if you wish.

When you get ready to purchase your next home, be sure to purchase title insurance. This can potentially avoid a lot of problems if there ever is a discrepancy in the future.

Lately you see a lot of homes sitting on the market for sale for months on end. Yet at the same time, you will see one that gets grabbed up as soon as it hits the market. What factors are involved in these quick sales and how can you get your home to sell faster.

A lot of things can factor in on the quick sales such as better pricing, a go-getter real estate agent or maybe just the property looks better than others. There are some things you can consider when wanting your home to sell faster.

Price – Make sure your home is listed properly for the type of home and neighborhood. Many people search for homes within a certain price and neighborhood. If you home is far over priced for the surrounding neighborhood, it will probably sit for a while.

Multiple Listing Services – Make sure your home is listed on the Multiple Listing Services. A lot of potential home buyers will look at these services first, then find the agent who has the listings they like. Additionally, make sure you have a lot of photos with different rooms and angles. Also, give a very detailed description of the home. Especially any unique areas or features.

Staging – Make your home as attractive as you can. Remove any clutter or lots of furniture. The goal is to show the roominess of it and the clean lines. Even re-arrange the furniture into a showcase, highlighting it’s best features. The lawn and any outbuildings need to be clean and appealing.

Once you start getting interested buyers in your home, make sure you are available when the potential buyer wants to see the home. It may be at odd hours but if they can’t get in touch with you, they will give up and look at something else.

It will take initiative and the will to get a home to sell in a sluggish market. But it can be done if you make the effort.

While everyone knows and understands that the real estate markets have been bad, the economy has been bad and the job markets have been bad for several years now. What you may not know are the behind-the-scenes issues that have not helped the markets at all in 2011.

Real Estate prices have really gone down, leaving some to wonder if the market will ever fully recover. The year 2012 is not going to be an easy ride but it is expected to slowly turn around. A look at some of the issues that have not helped the markets in 2011 are:

• HARP – Home Affordable Refinancing Program. The Federal Housing Authority launched this program in October to help homeowners be able to refinance their home. The only problem is a little known fact that homeowners had to be current on their payments in order to be eligible. In fact, when this was announced earlier in the year, some homeowners thought they had a way out and stopped making payments. Not knowing that they would not be eligible.
• Incomplete Foreclosure Documentation – Lenders were accused of “robo-signing” foreclosures in 2010. This made lenders leery of completing foreclosure processes in 2011. This in turn has left a glut of foreclosed homes on the market. There may be even more foreclosures in 2012.
• Loan Limits – The Government has lowered the upper limits of a loan to $625,500 for FHA, Freddie Mac and Fannie Mae loans. There was some resistance to that so the Government raised the limit back for FHA loans. However, they did not for Freddie Mac or Fannie Mae.

There are a lot of issues that have had a direct hit on the real estate market. But these are pretty important in itself. It’s going to be a slow road this coming year. However, if all the signs and  predictions are right, it may be slow, but it’s getting better.

On the bright side, consumer confidence is better than it has been since 2008 but home prices continue to fall and are only slightly higher than in 2008. This coming year may prove to be the worst on record, according to The New York Times.

With home prices continuing to fall, there is a real concern that real estate markets will have a hard time recovering. That’s because there are so many homes on the market and even with lower home prices, they are not moving.

Consumer confidence may be high but buyers are still hesitant to go out and buy a new home. It may very well take a while for the home buying confidence to build since many are waiting to see what the economy is going to do in addition to the job market.

New job openings are slowly rising but not fast enough. Many areas need more jobs within the area to keep consumer spending up. Many are just getting by with very little to no money extra for saving.

There are now more people who live paycheck to paycheck than ever before. What’s worse is if a person loses their job, by living paycheck to paycheck, it doesn’t take long to end up losing everything which includes home foreclosures.

Some analysts believe the rise in holiday shopping this year may have other reasons behind it. While it helped that holiday shopping was better than expected, many wonder if most people were just using what extra cash they had to have one last big Christmas before the really, hard times hit.

So, is consumer confidence up or are people just enjoying themselves one final time for a while? No one really knows the answer. We will just have to wait and see what the new year brings.

The Washington, DC area is experiencing a yo-yo effect when it comes to the real estate markets. The average price per square foot is approximately $441. That is an increase of 28% compared to the same time last year.

However, at the same time, home sales decreased 7.5% for the same time period compared to last year. Average home prices have decreased as well, according to current market statistics. While it is a good thing for homeowners that their appreciation value on their home has risen, it is not good news when selling a home.

With the decrease in home sales, there are more homes on the market in the Washington, DC area than previous years. With the glut on the market, it is hard to make sales on home purchases. Add to that, the decrease in home sale prices.

For home buyers, the decrease in sale prices and the lower interest rates are a boost to them. Plus, there are a lot of homes to choose from. It is actually a buyers market right now, with all the choices one has.

For Washington, DC the neighborhoods play a big role in the real estate market. Due to some neighborhood’s high crime rate, it is harder to sell homes in that area. Additionally, the younger generation are wanting homes close to shopping centers and schools for their school age children.

The most popular neighborhoods in the Washington, DC are continue to be Georgetown and Dupont Circle. These are also attractive to investors for rental property. Other popular neighborhoods are Columbia Heights, Adams Morgan and Stanton Park.

Visit with a real estate agent in the Washington, DC area today. The agent will be able to point you in the right direction as far as where you want to live and what’s available in that area.

The real estate market is getting better but slowly. The year 2012 will be better in some ways such as lower interest rates and a lot of homes to choose from. But, the lenders are pretty tight when it comes to new mortgages. So, what do you need to buy your next home in 2012.

Some things will always be the same and then there are others that you need to be aware of.

• Credit Scores – Credit scores need to be above 680. There are minimum standards for credit scores with the Federal Housing loans. Independent lenders will want a credit score above 700. At the same time, if you are considering a new home purchase, do not purchase big ticket items for at least six months before applying for a mortgage. Credit scores are related to how many times your credit is checked or how much credit you have taken out recently. Be careful not to jeopardize your chances even if your scores are good.
• Budget – Know before shopping around how much you can afford. Don’t go in blindly and just pick something only to find out after the fact that you really can’t afford the mortgage and end up ruining your credit. There are a lot of mortgage calculators online for your review so that you can put in interest rates and down payments along with years for a mortgage to get your monthly payment. Be sure to figure in taxes and insurance to that payment so you can get a true figure of just how much a month you will be spending.
• Extra charges – All lenders have different amounts when it comes to closing costs, points, down payment percentages and home inspections. Be sure to shop around for the best prices and criteria before you have your credit checked. This avoids any surprises at the end of the deal.

The coming year just may be your year to have the dream home you have always wanted. It’s better to plan ahead for any problem or cost that may come up.

Not only are costs associated with real estate higher than in the past so are energy prices. Even if mortgage rates are lower than they have been in several years, the difference can be offset by the cost of electricity alone. It won’t do you any good to save $300 on a mortgage payment with less interest rates if you just turn around and spend an extra $400 on electricity.

Average costs for a household is approximately $1500 per year. Think about it, average cost. That means an average household, not the big spacious homes that are getting built. Electricity costs have risen quite a lot in recent years and it’s just going to get worse, for a number of reasons.

First of all, the cost of electricity per kilowatt hour is increasing, people are using a lot more electricity than they did in the past, since everything in a household runs on electricity now. And, new homes that are being built are bigger, have more outlets, bigger air conditioning/heating systems, sprinkler systems, entertainment systems and built in appliances. Not to mention the computer workstations, whirlpool baths, or lighted vanity tables.

While technology is advancing, so are your energy costs. Everything in today’s world is usually electrical. While all of us want our gadgets and things that make life simpler, it is going to cost you to have all of that.

Of course, new appliances and such now are more efficient than their earlier counterparts. This is great and an easy way to explain away that you are doing the right thing when it comes to going green. But the increased use of all the time saving, enjoyable things will still cost you more than if you had 20 year old appliances running.

The National average of electricity is $11.80 per kilowatt hour, which is an all time high. It’s only going to go up, whether we like it or not, as long as we continually increase the amount of electricity we use.

Just something to consider for the future and maybe that big, huge house you want to build might just need to be a little smaller, with less electrical outlets.