Real-Estate Broker
A bad experience building my own home motivated me to become a licensed real-estate broker of luxury homes for actors, athletes and other celebrities. After the builder left me and my husband with tens of thousands of dollars in bills, I decided that I didn't want anyone else to go through that nightmare at what should be an exciting time of life. So I enrolled in a real-estate course, passed the state exam and go, my license. I'm a broker and salesperson and run my business independently. I'm affiliated with Prudential Florida Real Estate Center in Orlando.....

Basic Real Estate Valuation - Discounted Cash Flow analysis
Given the current interest (dare I say hysteria) associated with investing in dirt and buildings, I thought it might be interesting for our readers to have a quick, dirty manual on real estate valuation. My perspective comes from years in the industry as well as some time learning at the knee of some of the better real estate minds in academia. I will separate (to some degree) investing in one's residence, for consumption, from investing in real estate for fun and profit. The reason for this separation is that much of the utility or value of one's home is locked in the pleasure one gets from living in it, or consuming it. Although there are certain ego strokes to owning large buildings, an edifice complex - if you will, the value associated with land, apartments, office buildings and warehouses is locked in the cash flow they provide or will provide. [That edifice complex comes in to play with large, trophy assets - I wouldn't expect any of our readers to be buying the TransAmerica Pyramid or the Sears Tower, but there is an interesting argument as to why those buildings deserve premiums over their nearby competitors - that discussion will have to take place at another time.] The first basic principle to understand....

Foreclosure Home Deals - REO Foreclosure
Did you know that you can save tens of thousands of dollars on the purchase of your home by investing in a foreclosure or preforeclosure property? When you are trying to purchase a home for the first time, and you have limited resources and limited funds, it is particularly important that you get the most "bang for your buck". One way for a young family to get the most home for their money is to purchase a "distressed" property. With research and due diligence, you may just end up with a larger or nicer home than you thought you could afford, but without the extra price tag. One way to accomplish this is by purchasing a property that is in foreclosure. You may want to look for an REO Foreclosure. What's an REO Foreclosure? This stands for "Real Estate Owned", or in other words, property that was foreclosed upon by the bank holding the mortgage, and now belongs to the bank. But, the bank is a bank and not a real estate investment firm. They are simply not in the business of residential real estate and have no interest in the home other than to recoup their investment. How does this benefit you? Well, more than likely the previous owners of the property have been making payments on it for some time, bringing down the amount the bank was owed and increasing the equity in the property. Since the bank is only concerned about recouping what they are owed and not really attempting to make a profit, then you can essentially reap the benefit of the equity in the property and purchase the home...

The Art & Science of Property Valuation -- Automated Valuation Models
It is no secret that sellers want to sell high and buyers want to buy low. But they often arrive at the negotiating table with very different ideas on price. A fair and objective property valuation can help buyers and sellers find common ground and streamline the negotiation process. In the end, the property is worth what a buyer is willing to pay. But to help both buyers and sellers achieve their goals, both should have a fair and objective estimate of property value. Unfortunately, even objective estimates are still estimates, and there is no way to assure 100% accuracy: * Appraisals performed by a certified appraiser are not 100 percent accurate. * CMA’s (Comparable Market Analysis) and BPOs (Broker Price Opinions) performed by a licensed broker or agent are not 100 percent accurate. * AVM (Automated Valuation Model) technology is not 100 percent accurate. All these methods, when properly executed, can provide a good indication of value. Estimating value is a combination of art and science. Regardless of how scientific the approach, the actual sale price is subject to the unique variables of each property transaction: property condition, upgrades...

Buying and Selling Real Estate: Negotiating to Win-Win
You don't get what you deserve - you get what you negotiate for. If you’ve spent some time on homekeys.net, you probably noticed we generally don’t carry a torch for tradition or conventional wisdom. Having said that, the well-worn cliché above still holds true, especially in real estate transactions. Many buyers and sellers put in countless hours carefully searching properties or preparing their homes for sale, only to see their sweet deals vanish at the negotiating table. Even if you’re not an experienced negotiator, there are steps you can take to improve results whether you’re buying or selling property. Negotiation doesn’t need to be a confrontational process if you set priorities, plan ahead and stay focused on issues, not personalities. By far the largest expense related to traditional real estate transactions is the agent/brokers' commission, and independent buyers and sellers should take advantage of this fact. Without the “overhead” of a 5-6 percent commission, both buyer and seller have a little more flexibility to come to an agreement that’s acceptable to both parties. Here are some negotiation tips for independent buyers...

Real Estate Investing Is A Better Gamble Than The Lottery
Real estate investing begins when you move to the starting point. Get ready. Get set. GO... Are you ready to begin a real estate investing career? Or, are you already investing in real estate some, and want to expand your holdings? Or, are you investing in real estate a lot, but want to streamline your operation? If you prefer real estate investing to a J-O-B, here's a tip on the real estate investing gamble for hitting the jackpot, striking it rich, and quitting that day job!!! As one of my professors use to say, "Let’s commence, to begin, to start, to get ready, to GO." Do you bet on the lottery? I am amazed at how many people throw their money away buying lottery tickets with such slim chances at winning! At the start of 2004, Tennessee cranked up its new state lottery. The news media fanfare went on for months. Tennessee hired the lottery director from Louisiana to set up Tennessee’s system, and this media publicity aired every night on the news as the public was whipped into a frenzy. Finally, the kickoff. Within just weeks, the announcement aired that Tennessee had taken in $50 million in lottery sales, and then $100 million in lottery sales. Newscasters quietly mentioned, however...

Lease purchase option - Think You Can’t Afford Your Own Home, Think Again!
Do you have bad credit, no credit, filed a bankruptcy, have a ton of late pays, medical bills, or been through a divorce? Well, we have the perfect solution for you - Lease Purchasing your own home! What is Lease Purchasing? A Lease Purchase is a process that combines a basic rental lease with an agreement to purchase, or with an option to purchase the property. The Buyer (or Lease-Purchaser) pays to the seller a monthly payment that usually approximates a rental amount or a typical mortgage payment on the home. A percentage of that payment is typically applied towards the purchase price. At the end of the term, the buyer has the right to purchase the property for the price and terms to which both parties have previously agreed. Put another way, a lease purchase is essentially a rental agreement combined with a purchase contract with pre-negotiated terms. The buyer leases the property for a specific period of time and then purchases the property before the end of the lease agreement. Sales price, length of rental, rent credits, escrow instructions, etc., are all contained in the agreement. A lease purchase is a wonderful way to control property without the headaches of banks, mortgages, taxes or immediate loan qualifying. Lease Purchasing gives you the right to buy the property, but not the obligation to buy. Following are just some of the benefits of Lease Purchasing...

Information selling a home - Home selling guide
Sue and Chuck DeFiore have the perfect solution for you – Lease Purchasing your home! What is Lease Purchasing? A Lease Purchase is a process that combines a basic rental lease with an agreement to purchase, or with an option to purchase the property. The Buyer (or Lease-Purchaser) pays to the seller a monthly payment that usually approximates a rental amount or a typical mortgage payment on the home. A percentage of that payment is typically applied towards the purchase price. At the end of the term, the buyer has the right to purchase the property for the price and terms to which both parties have previously agreed. Put another way, a lease purchase is essentially a rental agreement combined with a purchase contract with pre-negotiated terms. The buyer leases the property for a specific period of time and then purchases the property before the end of the lease agreement. Sales price, length of rental, rent credits, escrow instructions, etc., are all contained in the agreement. A lease purchase is a wonderful way to control property without the headaches of banks, mortgages, taxes or immediate loan qualifying. Lease Purchasing gives you the right to buy the property, but not the obligation to buy...

Late Mortgage Payments Sabotage PMI Cancellation
There's something you should know about PMI! Private mortgage insurance is commonly referred to as PMI. If a buyer makes a down payment of less than 20% of a home's value the lender will insist that a premium for PMI be added to every monthly payment. Statistics prove that the more money a buyer has invested in a home the less likely they are to default on mortgage payments. With less than 20% down lenders want added security for the loan and so PMI was developed. Nice for lenders... expensive for borrowers. The federal Homeowners Protection Act of 1998 mandates two ways to cancel PMI. 1. When regular monthly payments have paid down the loan balance to less than 78% of the ORIGINAL APPRAISED value of the home. Current appraised value does not count even if the value of your home has doubled. 2. If you pay an extra amount over and above the monthly payment so that the loan balance falls below 80% of original value. The act excluded FHA loans made before 2001. Mortgage insurance on those loans can never be canceled. What if you bought a home in Southern California and the value shot up 40% during a ten month period? That's not covered in the Homeowners Protection Act, but most lenders will listen to a request to cancel the PM...