What is Real Estate

Writen by Ed Chaparro

Real estate sales commissions are a topic that garners a great deal of attention. This is perfectly understandable since sellers naturally wish to reduce the cost of selling their home. But, there is a point after which the reduction of a commission becomes counterproductive and begins to undermine the sale of your home. A significant portion of the commission you offer should be dedicated to attracting more buyers.

Commissions are comprised of three parts:

1. Advertising budget – the money spent to advertise your home.
2. Buyer Agent Split – this is the share of the commission that is offered to other agencies as an incentive to find buyers for your home.
3. Fee for Services – this is the portion of the commission that the listing agency earns for all services performed on your behalf.

A common mistake made by sellers is to think of commissions strictly as component number three – Fee for Services. They feel good about negotiating a low commission rate but fail to realize that they may have undermined the successful sale of their home. To compensate for a low commission rate agents will sometimes lower the advertising budget and commission split offered to other agents. From the seller's standpoint this is counterproductive. What good is it if you save one or two percent on the commission rate but fail to attract qualified buyers? For superior results you need to attract as many buyers as possible.

The commission is built into the price of your home. The proceeds from a sale come from the buyer. So, who really pays for the commission? You're better off raising the price of your home and offering a fair commission than setting a sub par commission rate.

At a minimum, you should negotiate a commission rate that is equivalent to the average commission rate on the MLS. Offering a lower commission rate will only result in less marketing exposure and less showing activity. The key to a quick sale at top price is getting full market exposure and leveraging the hundreds of real estate agents in your area by offering a fair commission split. A low commission is not a bargain if your home doesn't sell or you only receive inferior offers due to low activity.

Commissions are always negotiable and the real estate industry is very competitive. Although brokers and agents are permitted to establish their own business policies with respect to commissions, if you're looking for a "bargain" you can always find somebody that will accept a very low commission. But doing so will result in less activity and possibly an expired listing. The commission is more than a fee for services. Your advertising budget and buyer agent split are critical components of your marketing plan.

Ed Chaparro is a licensed New Jersey real estate agent with Prudential New Jersey Properties servicing Middlesex, Union and Somerset Counties.

Ed Chaparro has over twenty years of experience working with technology and putting it to use to help people and businesses. Ed Chaparro mixes traditional real estate marketing (MLS, signs, direct mail) with a very aggressive Internet marketing plan that maximizes the number of buyers reached.

For buyers, Ed Chaparro provides methods and communications that enable them to view their options in manner that is efficient, informative and free of any hard-sell tactics. This approach has garnered Ed Chaparro a great deal of buyer loyalty.

For more details and information please visit http://www.EdChaparro.com

Writen by Sue And Chuck DeFiore

In a previous article we introduced you to the concept of O.P.P., or Other People's Property, and the many ways in which you can profit.

In that article we asked you what you would do if you found a business that:
* could generate multiple streams of income
* would work in any area of the country
* could be worked both locally and nationally
* could be worked both on and off the web
* would allow you to build your long term net worth
* and, can be started either in your spare time or part time

Remember, what we are talking about is a wonderful business that allows you to generate immediate cash flow and also build your long term net worth.

That business revolved around the Creative Real Estate niche of Lease Purchasing.

This article, the third in the O.P.P. series will briefly touch on some of the strategies that are available to the Lease Purchase consultant.

The Strategies

First, is the co-operative strategy. It is the easiest for the beginner to start with. The co-operative is used when the seller may not want to give over total control of his/her property. The seller wants some say as to who goes into the property. When we assign the contract to a tenant/buyer, we receive the assignment fee. It typically takes us about two weeks to move a property, and we usually look for a $5,000 assignment fee.

The co-operative strategy, along with all the other strategies available to you, can be utilized for all types of property: single family, mobile homes, townhouses, condos. It works well with sellers who are motivated; with investors who have rental property and for those sellers who are not in a rush to move their property.

This is a favorite strategy of ours.

Some of the other strategies available to you in lease purchasing are:

The sandwich deal. This is when you lease purchase the property and then sub-lease to a tenant/buyer. It affords you great profit potential. You can collect money up front as option consideration, you receive the positive cash flow and you can make additional money at the end if the option is exercised. For those of you not familiar with the term positive cash flow, this is the difference between what the tenant/buyer pays you and what you pay to the original seller.

With the next strategy, the straight assignment, you contract for the property and assign or sell that contract to a tenant/buyer. This does not require the seller's approval. In the straight assignment you make your money in assigning the contract to a tenant/buyer. Remember too, you can sell a straight assignment to an investor.

The pure option. The pure option on a property allows you to purchase the home at a future date. The terms also are set. You can take the pure option and sell it to another investor. Again you want to negotiate good terms for yourself, so you can make money when you flip this to an investor. This is a very fast way to generate cash flow.

There are other strategies available to the Lease Purchase consultant, such as the cash or cash equivalent strategy, note creation and of course, our favorite, consulting. We'll cover these in a future article.

The niche of Lease Purchasing grants you the ability to reach your financial freedom, with O.P.P., Other Peoples Property. All it takes is the desire to succeed, some time investment on your part and some specialized knowledge.

What are the benefits to the business owner?

* Little start-up capital needed.
* Little or no credit needed.
* Wonderful cash flow can be generated immediately.
* Excellent and realistic first year income can be achieved.
* Business can be started simply, no major equipment to buy.
* Business can be operated full time, part time or in your spare time.
* Best of all, the business can be operated from your own home office

As you can see, Lease Purchasing comes very close to being the Perfect Home-Based Business. A realistic first year income is $50,000 to $75,000 for someone working full time. You can add $20,000 to $30,000 to your present income on a part time basis.

Don't you think you owe it to yourself to explore the potential of O.P.P.?

What are you waiting for?

Copyright DeFiore Enterprises 2000

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our  "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com

Writen by Jennifer Bailey

If you are in the market to buy or sell a house, experts have always suggested that you should contact a real estate agent. A real estate transaction is usually in the region of $100,000, which is a massive financial undertaking. This suggestion holds true in anywhere, including Dallas.

It is important to note that real estate is an industry and that there are different laws and monetary aspects to it. Getting a person or a firm that specializes in this field would provide certain assistance. While selecting real estate agents, check out his or her working knowledge of the marketplace as well as the asking price of comparable homes.

If you are relocating, then you will probably have two things to do, sell your current house and buy a new house in the new location. Your best alternative would be to deal with a firm that can provide service for both. If you are relocating to Dallas, then your realtors need to know the real estate market there. A realtor should be able to provide you information about the general neighborhood, school district, and commercial zones.

If you are into selling your house ask the realtors to provide a competent marketing strategy for your home. 50 percent of all real estate sales are cooperative efforts, which are when your real estate agent contacts his collogues who are in the market to purchase property for their clients. A real estate agent figures out the most effective ways to advertise your property.

The real estate agent can offer various consolatory services to the seller. The agent will assist you in selecting the appropriate proposal or help you in writing a counteroffer. An agent also can pave the way for the appraisal, inspection and financing processes, and help set up the closing and suggest reputable service providers. The seller also can depend on an agent to compose in their behalf the required paperwork that can be taxing if an unanticipated obstacle comes up in the negotiating procedure.

Dallas Mortgages provides detailed information about Dallas mortgages, Dallas interest only mortgages, Dallas mortgage brokers, and more. Dallas Mortgages is affiliated with Commercial Second Mortgages.

Writen by Eduardo Reisinho

It's not "The" paradise, but there are thousands of paradisiacal beaches, which permit exceptional residence conditions and vacations all year round.

The temperatures are extremely pleasant all year round (without the excesses of some tropical climates), the people are extremely friendly, and the real estate prices – for vacation properties or for rental income - are true bargains by North American and European standards…

Bargains of how much?

Well. It depends and varies, of course. There are modest properties between 30.000 USD, or 40.000 USD. And double, up to 100,000 USD, for luxury… Bargains, even so…

And where is this place?

The place is a vast zone of the North eastern coast of Brazil (the longest tropical beach coast of the world). It's located mainly in the Brazilian state of Bahia, near small towns such as Praia do Forte, Itaparica, Ilha da Comandatuba, Costa do Sauipe, Porto Seguro, and others nearer the city of Salvador.

And the downsides, you may ask? And the safety issue? And are the people as friendly as mentioned before?

Yes. Brazilians are a peaceful and extremely friendly people. Brazil doesn't have terrorist activities or political violence. Brazil is a very big country, and as a whole offers safe conditions for investing and travelling. Safety problems – namely robbery – are in the big cities… Safety problems are extremely rare in Bahia State. Even robbery and petty crime are largely unknown in most of Bahia.

You will notice some beggars in Salvador da Bahia, but in most of the coastal places – and we are speaking of a coast with many hundreds of miles…- even this problem is not sensitive.

You just need to test. Go to Brazil, go to Bahia... See the conditions, see the stock and the prices of local real estate. If you want to benefit from current prices, do not wait too long!

Present prices will not last for long. There is a growing international interest in Brazilian properties. The natural conditions offered by the coast of Bahia will promote tourism and real estate to the tops of international demand. It's just a question of time.

As mentioned above, think of places such as Porto Seguro, Itaparica, Praia do Forte, Costa do Sauipe… They are small villages with an extremely safe and friendly atmosphere, where you will also find nearby luxury resorts, a large supply of properties, and natural conditions that you will not find elsewhere.

So… book a flight to Brazil. Brazil – and Bahia especially – deserve your visit.

Eduardo Reisinho publishes Brazil-Travel-Guide.com

( Brazil Travel Guide), a website where you can look for more information on real estate, and other themes and travel information involving Brazil.

Writen by Matthew Keegan

Putting your Las Vegas home on the market is one thing, but adequately preparing it for buyers is a whole different matter. Home staging is the term used by real estate professionals to help prepare your house so that it will look its absolute best. Realtors will tell you that buyers usually make a decision about a home within the first ten seconds of their visit. Therefore, a wonderful first impression is imperative if you are to sell your home quickly. Should you stage your Las Vegas home? If so, what exactly is involved with home staging?

Although your real estate agent or broker is knowledgeable and skilled on how to market your Las Vegas home, they may not be particularly adept at interior design. That is where a home staging professional comes in. If you use one, they will work toward helping you eliminate clutter, rearrange furniture, and improve your home's curb appeal. This may involve moving a painting from one wall to another, removing a bulky chair out of a crowded room, trimming the front yard shrubbery, etc. In some cases a Las Vegas home staging professional may recommend that you bring in additional furniture, but you must realize that there is an extra cost involved if you choose that option.

Your real estate agent should be able to refer a home staging professional to you. Most Las Vegas home staging professionals will offer a free written estimate of their recommendations and services. Ask for references from the home staging professional and call them to verify their work.

If you choose a professional who truly excels at home staging, you could recoup the costs of this service through a higher selling price.

Copyright 2006 – Matt Keegan is a freelance writer for John Vanhara who is President & Broker of MillionSaverHomes.com a Las Vegas Real Estate company helping to make Las Vegas home ownership a reality for thousands of new home buyers from across the USA.

Writen by Sameer Panjwani

It's the holiday season and everything is selling at the blink of an eye. Except maybe your house. It's a well known fact that in some parts of the country it's tricky to sell a house during the winter season. Tricky but not altogether impossible. You can definitely do certain things to speed up the sale and clinch that deal.

For starters, if your house has been on the market for several months maybe its time to make some changes. Ask your real estate agent to reassess the selling price and marketing strategies. Look at other similar houses and check if your selling price is perhaps too high to ask for in the winter months. Your price should correspond with the season and not be one that has been marked during the peak season.

Marketing techniques should transcend the average ad in a newspaper or a listing on the Multiple Listing Service (MLS). Ensure that word about your offer is reaching the right target of house-shoppers. Your agent should aid you in every step of the way and keep you involved.

If by any chance you are dissatisfied with the agent, contact the owner of the agency and request for another agent. Or if the agency itself is not keeping you happy and you're not bound by any contractual agreement, its time to shop for another agency.

After taking care of the above, do all you can to tidy up your house. One of the advantages of selling in the winter is that those who brave the weather to pay a visit to your home are actually serious buyers. So make sure that the house is in good condition and you add the fine touches when you have prospective buyers coming over.

Step into the shoes of a buyer and take a good look at your house. You will see all the repairs and changes need to be done and all the clutter that needs to be removed.

Here are some general tips. Open up the drapes and add more lighting. You could also keep photos of your house in the summer and spring time out in places where they are clearly visible. This gives the buyer a better idea of how the house looks in other seasons when the yard looks great with all the blossoming flowers and sunshine.

Do all your winter chores to create a good impression of the house in all seasons. Shovel your driveway neatly and keep the walkway clean. Make sure the furnace is working properly and the temperature inside is maintained at a comfortable level. The basement should be checked for dampness and any drafts that may steal in.

Even though its the holiday season, don't go overboard with the decorations. Give the buyer an opportunity to view the house as it generally is.

If you've paid attention to all the details and have got the word out there, no matter the season, you will have buyers coming in. Just make sure you stay on top of things!

Sameer Panjwani - CEO of ChoiceOfHomes.com - Sell your House online.

Writen by Mark Walters

Gather around children for a tale of royal power. Far back in history the king owned everything. (Does that remind you of Donald Trump?). Occasionally the king would grant property to a duke. Property ownership meant wealth, so the king would demand that the duke pay yearly taxes. To this very day much of the money that supports government comes from property taxes, for you see children, government is still king.

If the property owner fails to pay the tax the county government places a lien on that property. Every year property tax liens are sold at auction to the highest bidder. If the property owner fails to satisfy that tax lien the new owner of the lien can begin foreclosure and acquire the property. That seldom happens, but it is possible. Usually the liens are redeemed (paid) before the time limit expires.

You've probably seen the TV infomercial extolling the benefits of buying property tax liens. It's true, property tax liens usually pay an above average rate of interest (it varies from state to state) and the lien is secured by some kind of real estate. Because of the infomercial and real estate seminars, tax lien investing has became very popular. There was a time in some counties when few people would show up at the property tax lien auction. These days the seminar gurus often arrive with bus loads of students ready to bid.

A good investment, yes, but there are some surprises for the uninformed. Because property tax sales occur each year, there may be liens on the same property, for different tax years held by different investors. Like this… Bill bought the 1980 lien; Hillary bought the 1981 lien and George was the successful bidder the next year when the 1982 liens were offered.

Here in Arizona the law is very clear that tax liens for different tax years held by different private parties have parity among themselves. So if the redemption period for Bill's 1980 tax lien had expired without being paid he could foreclose on the property, but his foreclosure would not wipeout the liens held by Hillary and George. Bill might have a right to the property, but he could not get clear title until he pays off Hillary and George.

If Hillary and George had been influenced by that infomercial and thought that they could scoop up ownership of property for the simple price of a tax lien, well they are more than a little disappointed.

Oh, there could be one more surprise. Sometimes the state owns tax liens. When the state government forecloses all other privately held property tax liens are turned into waste paper.

Property tax liens certainly can be a good investment if you always keep one fact one mind... You are the duke and the government is the king!

Mark Walters teaches real estate investing from his web site... http://www.CashFlowInstitute.com

Writen by Suraj Singh

India's ever growing economy

Indian economy is presently poised at an inflatable state of prosperity. Since the economic liberalization initiated in the 1980s, there has been no looking back for India as the growth curve soars high. With the sensex crossing the record 10,000 mark, a stable 8 percent annual growth, rising foreign exchange reserves of close to US$ 140 billion, foreign direct investment (FDI) close to US$ 8 billion and more than 20 per cent surge in exports, the transformation of India into a leading destination for foreign investment is an achievement par excellence.

The Indian economy charged up by leaps and bounds only after the Indian government announced relaxation in FDI rules allowing 100% FDI in many sectors and increasing the investment cap in some more sectors. Moreover, industrial policy which in the past imposed too many restrictions on domestic private sector activity has been completely restructured to create more vibrant and market friendly environment. The Banking industry has also shown its keen interest to support real estate business by providing never better loan and mortgage facilities. This has greatly strengthened the roots of banking in India by NRI and citizens of India. The manufacturing and the services sector have also become a major driving force for the Indian economy. All this has brought about major investments in the IT, ITES and the BPO sector. The manufacturing industry has also seen premier automobile and appliance manufacturers from around the globe starting their operations from India.

Real Estate Getting More Professional

India is increasingly attracting the world's interest for its impressive economic performance and driven by positive growth in the economy, real estate in India is booming. And as the Indian Government allowed 100 per cent foreign direct investment (FDI) under the 'automatic route' to the construction and development sector in February 2006, investment in the vital infrastructure sector is beyond expectations. With the entry of big foreign investors the Indian realty market is clearly in transition mode from an unorganized sector to a more professional segment. Residential property in India has turned out to the huge profitable opportunity in India.

Real Estate India is on an upswing with builders trying to outdo each other with smart features, trendy styles and lifestyle enriching atmosphere promising world-class luxury. This has been an encouraging trend for NRIs willing to have a second home in India. Although the latest status of Indian economy is focusing on Indian equities but the silent but hugely profitable opportunity in India is the Indian Real Estate – the clear winner.

About Author

By Suraj Kumar Singh is an associated editor to the website Indianground.com. Indianground is dedicated to explain all your related queries for Real estate India and Banking In India, with the latest news updates on Residential properties in india. Your feedback will be highly appreciated at "kumarsingh.suraj@gmail.com"

Writen by Jeanette Joy Fisher

When painting your home for resale, choosing the right colors can make a huge difference in your paycheck at closing. For instance, did you know that the exterior color of houses selling most quickly is a certain shade of yellow, but that choosing the wrong shade of yellow can kill a sale?

You'll find many brochures in paint stores, showing various combinations of exterior paint colors. But most people don't realize that most of those combinations actually include three colors, and not just two. Limiting your exterior paint scheme to just two colors also limits your income potential.

For a fast sale, think fun colors and go for a third, or even a fourth, exterior color. Think "Disneyland Main Street," where every shop is painted in glorious multi-colors. Adding more colors will also add definition to the various architectural details of your home. Use gloss or semi-gloss paint on wood trim.

The Psychology of Exterior Colors

When choosing exterior colors, take the sales price of your home into account. Certain colors, especially muted, complex shades, attract wealthy or highly-educated buyers, whereas buyers with less income or less education generally prefer simpler colors. A complex color contains tints of gray or brown, and usually requires more than one word to describe, such as "sage green," as opposed to "green."

On the other hand, simple colors are straightforward and pure. Generally, houses in the lower price range sell faster and for higher prices when painted in simple colors like yellow or tan, accented by white, blue, or green trim.

The Psychology of Interior Colors

Using colored, rather than bland, white walls will increase your profit potential. Lynette Jennings tested the perception of room size and color, and discovered that a room painted white appeared only appeared larger to a few people when compared to an identical room painted in color – and the perceived difference was only about six inches! Most people also look better when surrounded by color, and feel happier, and since buyers pick houses that make them feel happy, that knowledge can put dollars in your pocket at closing!

Entryways should bring the exterior colors into the house. Repeating shades of the exterior throughout your home will make the entire home seem to be in harmony. Living and family rooms painted in a slightly lighter shade of the exterior color will ensure that you've picked a color your buyers like, because if they didn't like your exterior colors, they wouldn't have bothered to look inside. If they loved the exterior colors, they'll love the interior, too.

When choosing interior colors, consider the use of each room. For instance, kitchen and dining areas that are painted in "food colors," such as coffee browns, celery greens, and scrambled egg yellows, feel natural.

Since, deeper shades of color imply intimacy and serenity, I like to paint master bedrooms a medium shade of green or blue for warm selling seasons, and rouge red for cooler weather. Other bedrooms can be painted in creamy tones of green, blue, or a pale shell pink. (See the chapter on the Psychology of Color in my book "Joy to the Home: Secrets of Interior Design Psychology" for further information.)

Selling Season

Always consider your selling season (the time of year you'll be marketing your home) and climate when choosing colors. Estimate the amount of time you'll need to get your home ready for sale, and then add on extra days for unexpected delays. Use cool colors, such as blues, greens, and grays, to sell during spring and summer, and warm colors, such as yellows, reds, and maroons, when selling in the fall and winter.

Color Intensity

My husband and I usually use lighter colors when painting the exteriors of our investment dollhouses, because it makes them appear larger. On the other hand, our cabin in the woods looks richer when painted a darker color. When we decided to have it painted, I considered the usual cabin colors of dark brown and barn red, but fell in love with Olympic's gorgeous "Gooseberry" plum color.

When getting ready to paint your house, look at the colors of neighboring houses and choose colors that harmonize, yet stand out from the crowd. Colors that clash badly with other houses will detract from the overall neighborhood.

At the beginning of the article, I told you that homes with yellow exteriors sell the quickest. But which shade of yellow sells best? First, the yellows to avoid: yellows with green undertones look sickly to most buyers, and yellows with orange undertones give buyers an impression of cheapness.

The best-selling yellow exterior color is actually a pale, sunny yellow, especially when complimented with one or more carefully-chosen accent colors. For instance, a semi-gloss white trim will give your home a clean and fresh look, and adding a third color, such as green, can make your home even more attractive to prospective buyers.

Colors affect human beings in many ways, and by using the principles of Color Psychology, you can make your home stand out from the competition, sell more quickly, and at a higher price.

(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm

Writen by Ted Gross

On a day to day basis, I deal with many individuals who want to purchase property in Israel, though they do not live here. The following ten points were written based upon their experience in purchasing real estate in Israel.

1. Be careful. Be prepared. Be informed. – It cannot be overstated or said enough. You, your agent and your lawyer should all do the homework on price, taxes, ownership of any piece of property you are interested in.

2. Understanding Property - Your agent should understand and have seen the property they are representing and be in tune with your needs and requests. Always ask about why a property is costing X even if you feel it is fairly priced. Dig for information just don't accept it. Get a complete picture, one which will make your decision more informed and knowledgeable.

3. Time - Don't let an agent waste your time by dragging you around from place to place without understanding your specific needs. A good agent can save you a great deal of time because they invest the time before they ever heard from you. They scour the market for new and good deals, and meet with owners and plan out time-schedules. They try to prepare as much as possible for your request way before you even knew you would call them.

4. Knowledge of Market Availability - Agents should know the properties available. Not only those which appear in the paper, but those which are never advertised along "normative" routes.

5. Price - A good brokerage firm can often get you a better price than you can get by yourself as they are aware of the "true" market value. And often they can be instrumental in making an owner understand that what you have offered is the best deal all around. It is in the best interest for both sides to be happy, even if the agent represents only one side of the transaction.

6. Positive & Negative Aspects - Because a good agent does research before ever showing you a property, they can warn you of possible problems even when you fall in love with the property. An agent, should without hesitation, list those aspects which they feel may be viewed in a negative light as well. To sing praise is always easy, to be honest and forthright, and warn you that there may be too many stairs, or though the bathroom was just renovated it will still need more work, or the synagogue across the street may prove to be a bit noisy, or during the school year you will hear the chimes from the school down the block - even when you are "in love" is the difficult part.

7. Making Sure You See All The Factors - You should always view the prospective property more than once. At the very least, once during the day and once during night time. This is critical for you to get a sense of the apartment and neighborhood.

8. Real Property Worth - Find out through your agent and lawyer the "real" worth of the property. Do not accept just any figures thrown from a hat to impress you. Find out what other properties in the neighborhood sold for. If the property is appreciating in price. Who the neighbors are and who is buying.

9. Ethics - Agents must be licensed and are subject to laws and a rule of ethics. If you catch an agent in a lie, seek out another agent.

10. Staying Within Your Budget - Do not let an agent push you, nor attempt to talk you into spending more than your budget allows.

In future articles I will discuss taxes, broker fees, and what documentation is required of you.

Ted W. Gross owns Virgin Earth, a real estate brokerage firm in Jerusalem, Israel. Virgin Earth represents residential and commercial real estate all over Israel. The web site for Virgin Earth is: http://www.virginisrael.com. Virgin Earth also maintains an RSS Feed on its current properties which can be found on most pages in the web site of Virgin Earth. Ted Gross can be reached at: teddy@virginisrael.com Ted Gross is also a published author and maintains a web site for his works. This can be found at: http://www.virginisrael.com/twg/iw.html

Writen by Jon Ernest

With interest rates on the rise, the outlook of the Cambridge condo market is not so bright. As of today, there are 407 condo for sale, ranging from a 370 square foot 1 bedroom in North Cambridge for $199,900, to a 4235 square foot floor through unit on the Charles River in the Esplanade for only $3,950,000 (condo fees of more than $2800 a month). If there were at least 135 buyers last month, I would argue that it was still a sellers market. But unfortunately for you Cambridge condo sellers out there, the market saw only 38 buyers this past month.

This means that there was over a 10 months supply, for every buyer last month, there were more than 10 sellers competing for their offer. And if the demand for condos continues at this rate, it would take almost a year to burn through the current supply. And that's assuming that more properties don't come on the market in that time.

This softening trend is also reflected in the difference between list price and sales price. In the last month, the average list price for a condo in Cambridge was $513,861, and the average sales price was $496,236. The difference of $17,000 below asking price that we see, does not take into account any price drops that occurred before the listing agents received their offers.

So sellers, with an average marketing time of over 90 days, if you need to sell you condo in Cambridge, the question is not "What is the most I can get for my property?" The question you should be asking you agent is "How do I need to price my unit to get it sold?" And the short answer is, "Aggressively and Competitively"

Jon Ernest is the Principle Broker of Spotlight Realty. A small, independently owned, full service residential real estate agency in Brookline, Massachusetts.

http://www.SpotlightRE.com
Condos for sale

Writen by Brandon Cornett

There was a time when buying a home with bad credit was next to impossible. Fortunately (for people with bad credit), times have changed.

This change is the result of many factors: increased competition in the mortgage industry, a wider variety of loan programs, Internet-based lending, etc. Some lenders today even specialize in offering home loans to people with bad credit.

Like I said, times have changed.

But while it has gotten easier to buy a home with bad credit, you still need a solid plan of action. Here, then, are your four steps to home buying success:

Buying a Home with Bad Credit – Four Steps to Success

1. Get a copy of your credit report.
For starters, you should obtain a copy of your credit report from all three of the credit agencies: TransUnion, Experian and Equifax. Review them closely for errors. The last thing you need are errors that drag your credit score lower than it should be.

If you find an error on your report, you can dispute it online through the credit agency's website:

www.equifax.com * www.transunion.com * www.experian.com

2. Shop for a lender.
Do plenty of research to find a good lender. Be wary of predatory lenders who take advantage of people with bad credit (because they don't have as many loan options). Get quotes from multiple lenders. Ask around. Go with trusted names. Do some online research to identify "red flag" lenders.

Here's some good news -- through a combination of government regulation and increased competition in the mortgage industry, the number of reputable lenders who offer bad credit mortgage programs continues to increase.

3. Focus on improving your credit.
Improving your credit score will help you in the short term (to obtain a loan) and the long term (to avoid bad credit situations for good!). You can improve your score by paying bills on time, especially your mortgage. Don't open any new lines of credit, and try to pay down your existing lines of credit. Once you raise your credit score, you'll be able to refinance the mortgage at a lower interest rate. And that leads us to step #4.

4. Refinance as soon as possible.
Buying a home with bad credit can actually help you improve your credit. By holding down a mortgage and making payments on time, you can eventually elevate your credit score to the point that you quality for a lower interest rate.

When that happens, you can refinance the mortgage at the lower rate, which will in turn lower your monthly payment and get you back on track. Better credit, lower mortgage. You can do it!

* Copyright 2006, Brandon Cornett. You may republish this article (unaltered) provided you keep the byline and author's note. Please leave hyperlinks active.

Learn more!
You can learn more about buying a home with bad credit by visiting HomeBuyingInstitute.com, the Internet's largest library of home buying tips and articles. Visit: http://www.HomeBuyingInstitute.com