There are two types of real estate deals that you will come across. First off, and most popular, are the homes that are being sold by a real estate agent. Secondly, for sale by owner homes are also becoming more and more popular. There are pros and cons that go along with both ways of selling a home. And of course, these pros and cons also have an effect on the way that the buyer looks at the deal.

If you are interested in selling your home, you need to decide early on if you are going to get the help of an agent or attempt to do without. When it comes down to it, for sale by owner homes are not as popular as those by agents, but the percentage is beginning to pick up. As a seller, you may want to consider selling your home by owner. The fact of the matter is that selling by owner is more difficult, but at the same time it lends more flexibility as well as profit potential.

Here are three benefits of for sale by owner homes from the seller’s point of view.

1. When you sell by owner you do not have to pay a real estate agent for their assistance. Instead, you get to pocket all of the money that you clear on the deal. This is the number one reason that people consider the for sale by owner route.

2. For sale by owner homes are not regulated or influenced by any insurance company or agent. In other words, the seller can do whatever he or she wants. This includes everything from setting the price to the marketing plan. Many people love this flexibility.

3. Selling by owner means that you do not have to take advice from an agent. Although it is nice to have the help of a professional, sometimes an agent will do nothing more than get in the way.

To go along with the benefits of for sale by owner homes, you must also consider some of the negative impacts that this is sure to have on your life.

1. You are responsible for every last detail when you sell your home by owner. This means that you have to come up with a price, do your own market research, show the home on your own, and much more. The short and long of it is that when you sell by owner you have more work to do.

2. You may find out that buyers shy away from for sale by owner homes. They are under the impression that they will not get a fair shake if there is no agent involved. For this reason, you will have to work extra hard in order to attract traffic, and of course, eventually make a sale.

There is no denying that for sale by owner homes are becoming more common. Many sellers have found that the benefits of selling on their own outweigh any drawbacks that could rear their ugly head. Before you can decide on selling your home without an agent you need to consider the pros and cons from every imaginable angle.

Jessica Sterner recommends you visit comparefsbos.com for more information on for sale by owner homes.

By: Jessica Sterner

Singapore’s newest condo in its western suburbs, to be launched for sale in early November 2010, is to be called The Lakefront Residences.

Lakefront Condo

It is a lakefront condo – in as much as one can get to be “lakefront” in Singapore, that is. Which means it is separated from the parks around Jurong Lake by Yuan Ching Road as well as a plot of empty land (which could well turn out to eventually house another high rise). In fact, this project already blocks the lake views of the Caspian condo, that is still being built to its west.

Perhaps that is why the developer, Keppel Land, has cleverly decided to create internal ‘lakes’ and water views to echo the lake district theme this project is built around, as well as to shape the whole development as a ‘C’ that should allow a fair number of units to still enjoy views of the lake, should another development arise next door.

Reasons to Consider Lakefront Residences

Its proximity to the lake, and the joys of lakeside living, is not this lakefront condo’s only selling point. It has another plus point – especially where pragmatic Singaporeans are concerned: the rear gate of Lakefront Residences is just a few steps away from Lakeside MRT station.

Now that’s a big plus point, especially where potential tenants are concerned. Many potential tenants are expatriates, who balk at the cost of buying a car here. (One can easily set you back about USD$70,000 or more.) Moreover, many of them are only here for a couple of years or so. They travel light too – so the fact that units at Lakefront Residences don’t have an awful lot of storage space should not be an issue.

Beware the fact, though, that the units here are pretty small. From an investor’s point of view however, a smaller unit translates into a lower total purchase price. Potential tenants, who pay rent per square foot, should also benefit.

Accessibility

For many, what matters more is the closeness to an MRT station. From Lakeside MRT, it’s a bare 25 minutes ride into town. It’s even better if you work at Jurong Gateway, the new major regional business district that is slated to spring up within the next 10 to 15 years. That would be a mere 5 minute train ride down.

Being able to be in your office (and home again) within 15 minutes of leaving your door, without battling traffic jams for a hour each way, is a real luxury. There’s an awful lot you can do with an extra hour and a half each day – catch the breezes at Jurong Lake, or chill out at the pool, or even, Singaporeans that we are, give the children extra tutoring!

Jurong Lake District

Right now, the Jurong Lake area is still a little sleepy, with a charming laid back feel to it. Yuan Ching Road meanders down the west side of Jurong Lake, lined with tall fir trees on both sides, offering glimpses of water and strollers and joggers interspersed beneath the trees.

But with the Jurong Lake District redevelopment that includes Jurong Gateway business precinct, as well as the new Lakeside redevelopment, it could well be the next ‘happening’ place. If that takes place, Lakefront Residences might be a good chance to get a toehold into this place.

By: Soo C

Charlatans have been around since commerce systems were first introduced to society. Originally these tricksters posed as “medicine men” and sold miracle cures out of the backs of the horse and buggies. Courtesy of the surplus of abandoned homes in the country, contemporary con artists are now targeting home-renters.

Aided by technology, modern swindlers lift photos and listing information from current website posting. Using that material, they then create false advertisements promoting bargain deals on rentals. Unsuspecting consumers thinking they have just gotten a bargain rental deal are soon defrauded out of their money with nothing to show for their efforts except for heartbreak.

June 2010 statistics provided by online foreclosure trackers RealtyTrac. have shown that within Florida, 1 in every 171 housing units received a foreclosure filing notice. Those vacant properties combined with the area’s normal real estate activity make the region especially prone to the lascivious behavior of hustlers. One case in Ocala Florida shows how the predators work.

Ocala.com reported on a criminal attempt to a local homeowner. Jewel Estep’s has been trying to sell her home for over two years. One Sunday afternoon James and Bonetta Lovett innocently knocked on her door asking to take a tour of the property before they agreed to rent the home. After reporting the incident, local authorities found that the Lovett’s were in jeopardy of being taken advantage of as they found the fake rental information on Craigslist.com. Luckily, this particular ill-doing was averted.

If you are a renter looking to contract for a roof over your head, taking preventative measures is the only way to avoid being taken advantage of. Some telltale signs that a rental is not legitimate include:
Too Good to Be True: If an advertisement is offering a rental home far below the fair market value proceed with caution. Long Distance Relationship: Homeowner’s who say they will give you a deal, as they had to leave the country immediately are probably not legit. Landlords are very curious about who will be moving into their properties, as it is a way to mitigate risks. If they are not willing to provide you with a home tour or try to rush you into the process via emails filled with broken English, think twice. Money Wires: Although wiring money is a great way to get cash from point A to point B in seconds, those who demand this kind of payment option from their renters may have something up their sleeves. Internet Ad: Inherently Craigslist is good. But the listing website is gaining a reputation for being ‘scam central’. Many renters from Ocala Florida, San Diego California and Charlottesville, Virginia have reported similar plots to their local authorities and your town may be next.

Renters need to use common sense and conduct their due diligence in order to ensure that the property they are eying are not part of an evil plot to defraud them. Some tips that may help prevent you from becoming the next victim include:
Cynicism: If a rental property sounds too good to be true it probably is and will require the extra effort of prospective buyers. Search the Web: Each community has their own database of homes for sale called the multiple service listings (MLS). The database is the primary tool utilized by real estate agents and is updated regularly. Most MLS have a guest feature that allows anyone to check out properties for sale in their community. Renters who find a great deal on a home posted on a listing website should check their local MLS to see if the home is up for sale. If the answer is yes, comparing the ad you found to the real estate listing info in the MLS may unearth something unsavory requiring the notification to your local authority. Pity Stories: Most people consider home buying, selling and renting a business transaction, nothing more. If a potential landlord starts to spoon-feed you a sob story regarding tales of desperation, immediate international travel or the failing health of a loved one, there may be a sinister reason why. Money Transfers: Wire transfers are the calling card of Internet predators as they can quickly access your funds. Once they get the cash, they shut down their side of the transaction and disappear with your hard earned cash.

As Mike Brady infamously said “caveat emptor” or “let the buyer beware.” Every industry is has risks of fraud associated with them and the real estate sector is no exception. Whether you are looking for a low rate mortgage or an affordable rental property, common sense can help prevent you from becoming the next victim.

By: Mary-Jane Olson

The huge inventory of foreclosures has led many owners and sellers to lower their prices in order to avoid a gap in their cash flow. Since buyers are confronted with many choices, supply is the least of their worries but sellers do not exactly enjoy the idea of languishing some more time in the market before they can sell a property. This is why many sellers, lenders and banks identify properties that have been on the market for too long and offer more reasonable prices for them. The same then could present great opportunities for those who are looking for cheap houses for sale in the foreclosures market.

But the fact that houses are being sold at rock bottom prices or at an substantial rates below their market values does not automatically make them a bargain. There are other important factors that you need to consider to be able to separate a good buy from the others.

Buy Where Good Schools Are

It is a known fact among investors and buyers that location is a primary consideration when choosing which properties to buy. The location of a property can determine its quality, appreciation rate, and marketability.

When looking for cheap houses for sale, it is always safe to find one that is near a good school area. This is because when it is time for you to sell the house and move to another, you will realize that most buyers prefer properties or houses that are near good school districts. The fact that a property is situated near school areas can boost the value of the property.

Research Potential Hazards

When doing research for a property purchase, it is essential that you include in your list the natural and other potential hazards that the property may be near or susceptible to. You may want to note whether the foreclosure is situated in a high risk area near facilities that dispose and emit toxic wastes and materials. Check to see also if the area is prone to natural hazards such as earthquakes, tornadoes, hurricanes, and landslides and others. All these hazards can diminish the value of your property as well as pose safety and health risks to you and your family.

Assess The Neighborhood

Whether you are buying cheap houses for sale as an investment or as a homeowner, part of your research should go into investigating the neighborhood that surrounds the property. As a rule, if there is an apparent homeownership pride among the neighbors and the community, then it is safe to assume that the place is a safe place to live in and that property values are higher than in other districts.

By: Joseph B. Smith

To sell or lease a commercial property as a real estate agent you have to tap into the target market and do it well. This says that you have to understand that target market in your location before you start the process of promotion. To define a target market is sometimes hard given the relative property.

Ask yourself these questions:

What media will reach the target market in a direct and sustained way? What is the best time to promote the property to the target market? What is the capability of the target market to act and purchase the property at the moment? Why would the target market buy or lease such a property now or at any future time?

These questions lead to critical decisions to market the property. Today we have a selection of media to choose from; some of which are more effective than others.

Consider these alternatives of marketing a commercial property for sale or for lease.

Newspaper Internet Database Direct mail Direct telephone contact Signboards Neighbouring property owners Businesses in the area Email Promotional flyers Radio and TV

So what method is best? Only you can make that decision when you know what your target market is. The seller of the property should be fully briefed about your definition of target market before you ask for vendor funds to market the property.

It is wise to have a series of say 3 marketing packages from which the client can make a choice. The logic of gold, silver, and bronze marketing packages to promote a property for sale or lease is productive and sensible. At the end of the day the vendor should be asked for promotional funds but in doing so they should be given a choice of how much to spend and in what way.

The internet today is playing a significant part in the promotion of property. It is cheaper but available to all in most marketing campaigns. It has a sustained promotional life and has the ability to capture enquiry for many weeks.

When the enquiry starts to come in, it should be captured and categorised. The value of a great database of buyers, sellers, landlords, and tenants is high in the operation of a real estate office. The more people you know the better the listings and enquiry will be. This is where a team of good salespeople all running an accurate database of well qualified prospects can make a significant difference in the market place.

By: John Highman

Some real estate secrets are right out there in the open for everyone to see. The second secret below, for example, is simply to make low offers. Real estate agents and others will argue that you just waste everyone’s time because low offers just aren’t accepted, but common sense and experience say that they do sometimes work. Other secrets are not so obvious, as this first one demonstrates:

The Value Is In More Than The Property

Real estate prices are determined by the market. If buyers are paying $200,000 for similar homes in your area, that’s probably about what you’ll get, unless you make your property better in some way. If buyers will pay $10,000 more for a finished basement, for example, then it makes sense to finish that basement if the cost is say, $5,000. When you think “better” however, don’t limit your thinking to the property itself. How else can you raise the price?

You can raise your price by making the property easier to buy. This is one of the most overlooked real estate secrets. I once bought property for cash and sold it for 30% more a few weeks later simply because I sold it with easy payments. No cash? You might refinance your home to raise the cash. A $18,000 lot, for example, paid for with money borrowed on your home at 6%, might be sold for $24,000, with 9% interest, if you make the down payment and monthly payments low enough for the buyer.

The other way to make it easier for the buyer and so raise your price, is to sell on a lease-option. The buyer pays higher than normal rent, with part of that rent applying towards the down payment if he chooses to exercise his option to buy. The price is typically set according to what the house will be worth at the end of the option period (two years is common). With a non-refundable deposit or “option fee” and high rent, you do well whether or not the house is bought.

How much more can you ask when you make buying easy? It depends on a lot of factors, of course. Here is an example: a couple years ago, we wanted to sell a mobile home (with a lot) that we owned. Because these are difficult to finance, we figured we could get about $36,000 cash. We sold it for $45,000 however, by letting the buyer make a reasonable down payment and then making payments to us directly. We also are making thousands from the interest over the years.

The Secrets Of Low Offers

Making low offers can be a great way to get cheap real estate. But don’t expect to make a few really low offers and snag a great piece of real estate at half-price. Be realistic in your offering prices, and use this two-step plan to make this strategy effective:

1. Find sellers likely to accept a low offer.

2. Make a lot of offers.

Start by identifying “motivated sellers.” This can mean looking in areas that are temporarily slow markets, but primarily you are looking for sellers that need to or want to sell fast for some good reason. These reasons can range from needing to move for a job to just being tired of owning a rental.

Make a lot of offers. Most sellers – even motivated ones – will say no to an offer that is 15% to 20% below their asking price. This is what you’ll often have to aim for, though, if you intend to flip the property for a profit, because transaction costs (commissions, taxes, closing, etc.) can eat up 10% of the value. This strategy will annoy real estate agents, by the way, and may even embarrass you. That is the price you pay for getting a great deal.

On the other hand, if you don’t have a property in your hands by the time you’ve made 100 offers, you may be going too low on your offers, or targeting the wrong properties.

Counting Backwards

When doing fixer upper for a quick profit, you have to start at the end and figure backwards. The “end” is the sales price you are likely to get when you sell. Subtract all costs and your desired profit from this figure to determine how much you can offer.

For example, decide what a potential fixer-upper needs and then – with help if necessary – determine what it will sell for once you do the planned improvements and repairs. Let’s suppose that this is $225,000. Now you have to figure as carefully as you can what every single costs will be. These costs include buying costs, repair and improvement costs, utilities, taxes, interest on loans, sale’s commission, advertising costs, selling costs, and anything else you can think of.

All of those costs AND the profit you want for your effort have to be subtracted from the projected sales price. This is how you arrive at the maximum price you can offer. This procedure is often ignored by investors even though it is one of the simplest and most important real estate secrets.

By: Steven Gillman

San Jose is the tenth largest city in America, and the third largest in California. Boasting a lower than average crime rate and an excellent school system, San Jose is located in the heart of Santa Clara county and is considered to be the heart of Silicon Valley. Buying quality property here has been a dream for many Californians, one that was just out of their reach thanks to the above average home prices in Silicon Valley. The modern housing market has changed that, however. With the sudden increase in foreclosures and short sales, a wide variety of homes are now on the real estate market for much lower prices than years past.

During several months in 2010, nearly eighty percent of all real estate listings were foreclosures. This has flooded the market with homes that are below the usual average for houses in San Jose, but shopping outside of the lower priced homes can still find homes in the four to six hundred thousand dollar range. While the average listing price of a home in the area has risen sharply over the past month, this is a climb from a rock bottom low late last year. Over five thousand foreclosed homes in various stages of the foreclosure process at the moment.

With credit tightening measures, it has been harder for homeowners to convince themselves to purchase a home. Lenders with foreclosure properties on the real estate market are much more likely to be open to negotiations concerning the price, so the average San Jose list price of around 500,000 dollars is certainly a general figure. Using a real estate agent to find foreclosure properties on the market, particularly those that have been on the market for some time, may result in real estate buyers finding a good deal on their dream home as banks look to recoup some of their losses quickly.

While homes in the more luxurious parts of San Jose and Silicon Valley remain expensive, in the millions of dollars range, numerous properties exist that are quiet lovely and will make any home buyer happy. Alum Rock, Berryessa, Blossom Valley and Edenvale are some of the most popular areas in San Jose which offer lower prices than surrounding communities. Even more people are choosing to buy their homes in Willow Glen, Evergreen or Almaden Valley, which at first glance seem to have higher home prices. But the communities are a bit more desirable in these locations. And, with numerous foreclosure properties priced to sell, the opportunity of finding a dream home is finally within reach.

By: Don Orason