Real estate mistakes
Ralph Colburn has been selling a certain commodity in Idaho for decades. Until recently, he had a bustling office in Boise. Like any sharp businessman, he looked around for a piece of the market overlooked by his competitors. Seizing upon the opportunity he saw, he advertised that something new had come to Ada County. Ralph hit upon something the market was eager for--something that saved his customers money. Business was good. But Ralph's competitors weren't so happy. They pulled him in, tired him before their private tribunal, and drove him out of business. That left Ralph bankrupt at age 73. ....

Property in Piemonte Italy is Attracting British Interest
The Region has four distinct seasons but in general possesses a Mediterranean feel strongly influenced by the proximity of the Mediterranean Sea. Winters are short and cold (the snow and mountains providing spectacular scenery for the region's ski resorts). Spring and autumn are long and warm while the summer is hot and dry. Piemonte is home to some of the world's most respected award winning wines such as Barbera, Barolo, Barbaresco, Dolcetto, Nebbiolo, and Asti Spumante among many others. The most widely grown grape is of the Nebbiolo variety which is used to produce the famous Barolo wine. The region is world famous for its white truffles which attract thousands of tourists each year to celebratory festivals during autumn, the most famous of which is held in Alba. We must not forget the great cheeses such as the Robiola ('tuma' as the locals call it) which is produced in the Langhe hills. The region is also well known for...

How to Get Started in the Real Estate Game Fixing and Flipping Houses
If you're looking to get started investing in real estate by fixing and flipping houses, you'll want to know what to type of property to buy. Many real estate investors make millions turning ugly houses into dollhouses. On the other hand, some inexperienced investors lose money buying houses that just don't turn a profit. Three Tips to Help You Find the Perfect Fixer 1. Learn Your Market Your first task, exploring your market, helps you know a bargain house when you see one. Look at houses for sale in your area. Keep track of sales and how long the houses take to sell. Ask about the terms of these sales because this helps you understand how sellers market their property. For instance, if a seller paid closing costs for the buyer, did the price rise from the listed price accordingly? Or, did the seller come down on the price and pay the buyer's costs, too. Examine the sales that sell quickly. What home features and financing options prompted the fast sale? Also, look at model homes. Buyer often chose resale homes because they can't wait for a new home to be finished. But, these buyers like the amenities found in newer homes. When you transform your fixer, you'll know what buyers...

How To Find a Real Estate Agent
You may be of the opinion that you don’t need a real estate agent and that using one will add to the cost of buying your new home. The fact is that a real estate agent’s fees are typically paid by the seller of the home. So, as a buyer, you can get the services of a professional real estate agent without having to directly pay for it. Please confirm this in any paperwork or contracts that a real estate agent may provide because policies vary greatly by state and company. Be sure to ask about fees when you interview agents. Most real estate agents may work with buyers and sellers but often they specialize in working with one or the other. Make sure the agent that you choose has experience working with buyers and with no down payment transactions. Be careful if you are speaking with a real estate agent and they don’t seem to recognize terms like “Down Payment Assistance Program”. Start making a list of possible real estate agents to interview with referrals from your lender, friends and family...

'We Buy Houses' Scams — How to Spot Them and How to Avoid Them
There are many reasons why a home owner would want to sell a house fast. Job change, relocation, debt problems, divorce and inheritance are just a few. Unfortunately, people in need also tend to attract predators who have no problem profiting from someone else's misfortune. If you're looking to sell a house fast, here are a few scams to be on the lookout for and how to avoid becoming a victim yourself. Equity Skimming One of the most common types of "we buy houses" scams allows the "buyer" of the home to make off with most or all of your equity. It begins with you transferring your home's deed to the "buyer." The buyer may then have you make payments to him instead of the mortgage company, or he may have you move out so he can begin renting out the house. There are several ways the buyer can then profit from this transaction. First, he receives some sort of payment every month — whether from you or from the renter. Second, he can use the equity in your home to secure home equity loans or...

Why 'Average Sale Price' Statistics are Misleading
One of the most common statistics used when gauging the strength of an area's real estate market is the average sale price of its homes, but looking into that figure more deeply reveals just how misleading it can be. When listing a home for sale, most realtors establish a price for the home based on market comps of the area — taking into account what other houses sold for and how the home they are listing compares to those. That price is a gross sale price, however, and doesn't reflect what the home owner actually receives from the sale. The difference between the gross sale price and the amount with which the seller actually gets to walk away from closing is affected by a number of factors. Most people would be surprised to discover that home owners in hot U.S. real estate markets like California, Florida or Las Vegas often receive offers for their homes that actually exceed the asking price. That is because in almost all other U.S. cities, statistics suggest that a realtor usually secures an average sales price of only 92 to 95% of the listing price ...

Can't Rent a Work Zone
So you’ve picked up your first (or third, or tenth) income property, and it’s a real fixer-upper. You’ve got a great team of contractors, and you know what they need to do and how much time and money it’s going to cost to make it happen. The renovations are going to put you in the red and you’re going to need to get a tenant in there ASAP. So as soon as you have the plan worked out with the contractors you run an ad and start showing the place, right? Not if you don’t want to throw away money, you don’t! Prospective tenants lack imagination, and this is never so evident as when you’re showing them a place that is missing walls, is covered in construction dust, badly needs a paint job, has a gutted bathroom . . . you get the idea? “Curb appeal” is a concept that refers to the attractiveness of the outside of a house. Equally important is what I call “Foyer Appeal,” which is how the inside looks when you’re standing in the front door. If your curb appeal is poor (which is likely while you’re renovating, since your money is best spent on the inside problems first), half of your appointments will be no-shows because they assume the outside is representative of the inside. On the flip...

What's This about a Housing Bubble?
In his recent testimony, Alan Greenspan warned against the possiblity that we have seen home prices plateau. The bursting of the "bubble" could cause a big hit to the U.S. economy. But, why should we worry? Well, as we all know, house prices are up across the country...over 10% in the last year, including over 25% in some markets. Additionally, house prices have risen over 70% since 1994, more than double the increase of renting during that time period. Demand for houses is high, as interest rates have stayed low. This has created an investment market for houses. Now, the average homeowner can use the equity in his/her home to finance the purchase of one or more additional houses. One statistic showed that 13% of...

How to Make a Home for Sale Flyer Using Marketing Psychology
Want to sell your home right away, for the highest profit to you? Discover how to improve on the Realtor’s number two sales tool--right after the sign--your sales flyer. Most real estate agents use a sales flyer template which showcases their listings using out-of-date marketing strategies. For some reason, agents don't follow successful Internet marketing sales-copy techniques. They put a pretty house picture in the middle, list the home's features, and finish with a big picture of themselves. But, buyers don't care what your agent looks like! They want to know why your house outshines every other house in the neighborhood. Buyers want to know what your house can do for them! Internet marketers learned how to grab your attention and motivate you to buy, NOW. How do they do that? They emphasize benefits to the reader. Not features of the product. Internet readers want to know, right away, "What's in it for me?" The purpose of your flyer, to motivate home buyers...

Real Estate: The Consumers Will Have The Final Word!
“The first step toward change is awareness. The second step is acceptance”. --Nathaniel Branden Change is good for the consumer and for the real estate industry. It fuels competition and drives innovation and efficiency. Yet, the real estate industry has seen little change during the last 50 years. Indeed, other than marginally lower commissions as a result of the introduction of “discount brokerage models,” the change is imperceptible. Will the industry survive as we know it today? What will it take to thrive in the future? Technology and changing consumer behavior will be the driving forces behind change, but not the only forces. What matters is what the consumers want -- not what we think they want. We searched for answers. We went from denial, to awareness, and finally to acceptance. The lessons were harsh but clear. We needed to listen and learn from the consumer. Here is what we learned and want to share with you...