What is Real Estate

Writen by Ed Chaparro

An expired listing is a home that did not sell within the contractual term of a listing agreement. Many real estate agents set up an automated e-mail notification of expired listings on MLS. It's a potential source of business since presumably these are homeowners that wanted to sell their home but were not successful for a variety of reasons. Well, just what are these reasons? Why do listings expire? Listings can expire for all sorts of reasons. However, there are three reasons that are particularly common: (1) condition, (2) pricing and (3) marketing.

There's more to selling a home than putting a sign in front of the house and waiting for buyers to show up. Your home is competing with other homes to capture the interest of serious buyers. Make sure it shows well. Try to see your home objectively through a buyer's eyes. Start with the outside of your home, evaluating its curb appeal. Walk through every room of the home as a buyer would. If you can't be objective, retain the services of a professional real estate agent and get them involved early on.

Overpricing is a very common reason homes don't sell. Did I mention your home is competing with other homes? When a home is overpriced it just makes competing homes look better by comparison. Make sure you set a price that is grounded on facts. While it's true you're entitled to ask whatever price you desire, buyers have the final word and get to decide if they will pay it. As long as your home is on the market, your real estate agent should be soliciting feedback from everyone coming in to see the home, and relaying that feedback to you. Listen to the collective feedback. Don't ignore the market. If you do, the market will ignore you.

Marketing is a critical component to getting a home sold for top dollar. Putting a sign on the yard and listing the home on a MLS may be enough to sell a home sometimes. But, it's often not. Over 75% of buyers begin their home search on the Internet. Consequently, the marketing plan to sell your home should make the Internet an important component, along with other traditional marketing channels such as direct mail.

Did you offer a competitive commission rate? Motivating the hundreds of agents in your community to work for you is an important part of the marketing plan. If the commission split offered to buyer agents is too low your home has a much higher chance of just sitting there with little or no activity.

Was your home accessible to buyers? To sell a home a buyer has to see it, feel it and experience it. If they can't get into your home it's not going to sell. If you didn't do so before, consider using a lockbox to ensure real estate agents showing your home easy access.

If you actually received a bona fide offer from a qualified buyer, chances are your real estate agent did a reasonable job marketing your home. If you didn't get any offers, there's a good chance it was due to one or more of the above reasons.

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 Bill Wehr

Your home is more than likely the largest asset that you have. You want to get the most money out of the sale of your home. At the same time you want to have a realistic marketing time of your house with a sales price that meets your expectation. This is where picking the right realtor is so important.

Wherever you live there seems to be a disproportionate amount of realtors around in relation to the population. Indeed, if you live in a medium sized city, there are generally thousands from which to choose. You can ask friends or relatives their experiences in selling a home and if they would recommend the realtor that they worked with. This can be a start. You may see and hear advertising in your area by real estate companies. Once you start the selection process pick at least 3-5 agents to individually meet with you at your home.

First impressions count. The realtor should be prompt for the appointment. The realtor should be prepared to ask you specific questions concerning your home. The realtor should have an information checklist with him. He should come back to you at a later time to give you an objective as possible listing price with a projected marketing time for the sale of your home. You do not want a yes man who will give you what you want to hear. You want to have a list price that is presentable to the public based on recent sales. You do not want a high list price that was given to get the listing. This will only have to be reduced at a later point after losing valuable "new fresh" on the market time.

You have every right to ask questions of the realtor. In addition to what the commission will be, you would want to know how well this realtor knows your neighborhood. You would want to know if the realtor is full time or part time. You want to know what are the steps that will be taken by the realtor to present your home effectively to the marketplace. You want to know how long this person has been in the real estate profession and what that person's production has been over that last year. If you are the type of person who requires on going communication during the marketing process ask what is the realtor's response time.

You want to have an honest agent. This agent should keep your confidence and be frank with you at all times. This will create a sense of the realtor and you being a team and real partners.

Taking the time to select one agent from several agents does not guarantee that you have made the best choice. However, you will greatly reduce the stress, and not have diminished results sales price wise, by demanding and expecting quality professional service up front.

Bill Wehr has been in home loan origination for over 25 years. He is the owner of Great Pacific Northwest Mortgage http://www.billwehr.com, a residential mortgage company serving Oregon and Washington.

Writen by Robert Flournoy

Buying a vacation home that doubles as a future retirement home requires forethought and thorough investigation. Conventional wisdom tells us to first settle on a desired location and then look for the least expensive house in the best possible neighborhood. This is of course true, but buying a future retirement property demands additional consideration. Without a doubt, the purchase of a dual purposed home can be one of the most important and financial rewarding decisions a pre-retirement couple undertakes. Quite simply, the ultimate home buying decision comes down to establishing relatively conservative financial boundaries, drawing up a wish list and employing a real estate broker to find a home that will serve your needs now and in years to come.

Even prior to the financial planning phase, a vacation and future retirement home buyer should take a step back and make certain that there is 100% commitment. Ask yourself a few simple questions. First, is it possible that your financial position could materially change for the better or worse in the upcoming years? Have you decided on a location that requires a dramatic environmental change? What about relatives, does it matter that their next trip may require a flight instead of a drive? If you've answered 'yes' to any of these, our advice is to find a long-term rental in the area and give it a test drive. If, on the other hand, there are no doubts, it is time to set your financial parameters.

Once the decision is made to move forward, you need to figure out how much of a home you want and what type of home you can afford. The latter is a bit easier to quantify as most financial institutions prefer mortgage payments that are less than 29% of gross monthly income. However, if you have a good financial track record, banks will afford you some latitude. Obviously, lending rates are a crucial factor in this equation, especially if you go the adjustable rate route. A word of caution: be careful of Adjustable Rate Mortgages that look particularly attractive in today's low interest rate environment as an uptick in rates could lead to a potentially unpleasant financial situation. Remember that buying now for a future retirement is a long term proposition and your new investment should appreciate with no financial carrying cost surprises.

An additional factor to consider is whether your prospective vacation property can provide rental income before it becomes your full-time retirement home. If so, you would be able to deduct a portion of your mortgage interest payments, taxes and property amortization against the rental income. In other words, it is a great way to build equity and create additional cash flows. It should come as no surprise that an increasing number of people have taken advantage of this strategy.

After defining your financial boundaries, it's time now to come up with your wish list. What do you want in a home? How many bedrooms and baths? Do you want to live in a private gated community or out in the country? Does it have potential as a rental property? In addition, off-site criterion should be established to ensure that all aspects of your vacation home experience are amenable to your current and future retirement lifestyle. For example, are there property management services and what about local conveniences such as transportation and healthcare facilities?

Now that you are armed with your financial parameters and wish list it's time to find a local broker and see what's available. Almost 70% of home buyers leverage the internet to research properties so if you haven't already, it's time to start surfing the web. Simultaneously, you should be refining your financing plan by contacting a number of financial institutions and mortgage broker aggregators. Don't be bashful, comparative shop with at least two or three companies to ensure that you understand the various financing options and are being offered the best deal.

As we all know, the relationship with a broker is extremely important. A broker must truly understand your financial parameters, desired home criterion and lifestyle objectives. Brokers are normally paid for by the seller. Therefore, it's your job to establish the broker and buyer relationship that best works for you, not the seller. Remember, this is your vacation and future retirement home.

With a bit of good luck, buying a vacation and retirement home can yield some interesting financial benefits including long term capital appreciation and additional cash flows. Thorough planning can help mitigate future uncertainties and make the home buying process into a truly rewarding experience.

Robert Flournoy is a staff writer for Golf Home Connect. For additional information on golf course community real estate visit Golf Course Communities © 2005 Home Connect LLC

Writen by Monte Helme

On average, the length of time required from real estate listing to contract has increased dramatically in the U.S. in the past six months, according to HouseHunt's latest national "Current Market Conditions" homes for sale activity survey. Seventy-five percent of respondents said it is now taking more than 30 days. Of that figure, 30% said it is taking more than 60 days.

Three months ago, 52% of survey respondents said the average time on the market required for a home to sell was more than 30 days on the real estate market. Six months ago, only 35% said it was taking more than 30 days as buyer frenzy continued unabated.

"Current Market Conditions" 4th quarter survey also found:

Home sales prices remain firm. Currently, 82% say they are getting 95% or more of asking home prices. This compares with 80% in the third quarter and 90% in the second quarter of 2005.

Solid appreciation. One-half of all respondents report home price appreciation of 10% or more in the fourth quarter, year-to-year. This compares with 46% in the third quarter and 42% in the second quarter.

Multiple offers down. Currently, only 50% of respondents report multiple offers. This is down from 70% in the second and third quarters of this year.

Buyers-sellers demand nearly equal. A more balanced real estate market between buyers and sellers demand has emerged in many parts of the country. This compares with a 61-39% buyer ratio in the third quarter.

First-time buyers. Currently at 35%, this percentage has stayed about the same for the last six-nine months despite price and appreciation spikes on the East and West coasts and in Florida, Phoenix and Las Vegas. Greatest first-time buyer activity continues to be in the South and Midwest. Repeat and move-up buyer activity remains strong. Investor and second-home demand has slowed.

Inventory of unsold homes growing. Sixty-five percent said the trend is up in local real estate markets. Fifty-five percent report a good supply in all price ranges. Only 38% reported a good supply six months ago.

Market Growth. Overwhelmingly, survey respondents said job and population growth continues to fuel housing demand in local markets.

"Our latest random survey findings are consistent with both nationwide housing sales data and forecasts of top industry economists," said Michael Bearden, President and CEO of HouseHunt, Inc. "Our strong economy and consumer demand made record homes for sale possible in 2005 despite destructive hurricanes, rising mortgage interest rates and higher energy costs. We're optimistic that a sustainable, more balanced housing market will be the cornerstone of the U.S. economy in 2006."

A sampling of individual survey results:

• Clint Johnson of Rose & Womble and exclusive member agent in Virginia Beach and Norfolk, VA, area: "During the past few weeks we have seen a softening of the market, with fewer multiple home offers and buyers negotiating for closing cost assistance." He noted that the area has seen tremendous growth in prices and in units sold. Median home price is $230,000, up 15-20% in the past year.
• Rod Sullivan of GMAC Metro Brokers, exclusive member agent for Lithonia, GA, reports more sellers than buyers with a good supply of unsold homes. Average time on the market is 90-120 days. "Our greatest activity is from first-time buyers. Median home price is $150,000. Sellers are getting 95-100% of asking prices."
• Steve Gaines of CENTURY 21 Landtree and exclusive member agent in Greenwood, IN, reports more sellers than buyers and a good supply of unsold homes. "Average time on the market is 90-120 days," he said. Median home price is $175,000.
• Diane Ash of Weichert Realtors and exclusive member agent in Middletown, DE, said lower property taxes are attracting buyers from New York, New Jersey and Pennsylvania. Median home price is $300,000. Average time on the market is 30-60 days.
• Tim Ireland of Coldwell Banker Honig-Bell and exclusive member agent in Mokena, IL, said sellers and buyers are about 50-50. Average time on the market is 60-90 days. Median price is $261,190 with a good supply of unsold homes.
• Leah and Neville Bradshaw of Long & Foster Old Town/Historic,, exclusive member agents in Lorton, VA, reported more sellers than buyers and a median home price of $543,000, up 10-15% over last year. Even though sellers frequently get more than 100% of asking prices, they said that first-time buyers are very active.
• Dan Urbach of Prudential California and exclusive member agent in Pacific Palisades, CA, said his market is settling down from a very hot seller's market to a more balanced market. Median price home is $2 million, up 15-20% over a year ago. Average time on the market is 30-60 days.

Monte Helme is a national public relations consultant with HouseHunt, Inc. Previously, he was vice president of public relations and publications for Century 21 Real Estate Corp.; vice president of communications for AmeriNet Financial Services (now LendingTree); assistant city editor/Orange County for the Los Angeles Times; executive sports editor of the Rockford, IL, Morning Star and Register-Republic; and reporter for the Dixon, IL, Evening-Telegraph. Find real estate, homes for sale through public MLS and check what my home is worth by visiting websites: HouseHunt.com, moveUp.com, and SuperMLS.com, powered by HouseHunt, Inc. For additional information on HouseHunt, Inc., and the products and services it provides, please visit the HouseHunt-Inc.com corporate website.

Writen by Rick Hendershot

Successive interest rate increases by the Fed have left everyone wondering what is going to happen next with Real Estate. Will the boom continue or is this the beginning of a gradual slow down?

As Jim Jubak, writing in Jubak's Journal, points out, the effect of steady increases will have a much broader impact than just on those who have adjustable-rate mortgages or are locked in because of bad credit ratings. He reports that many large mortgage companies are now selling off riskier holdings to third and fourth parties -- parties prepared to put their faith in the ever upward march of prices. But as Jubak says, "It's never a good sign when the folks that know an asset best are selling."

Commercial Real Estate Prices in Japan Show Increase

Tokyo's commercial land prices are still down 80 percent from the peaks of 1990, but are starting to make a come back. With interest rates at record lows and Japan's economy showing growth for four straight years, commercial property prices have actually increased this year for the first time in 15 years.

As a sign of their confidence in the Japanese economy, American International Group Inc., the world's largest insurer, has begun negotiations for the purchase of a $3.4 billion office tower in downtown Tokyo.

Builder Confidence Declines Slightly in US

Builders of single-family homes across the US showed slightly decreased confidence in the market going into December. According to a recent survey of members, the National Association of Home Builders/Wells Fargo Housing market Index (HMI) showed a slight decline from November.

The December index was down from 61 to 57, with anything above 50 indicating "good" sales conditions. Ratings are based on total traffic, resistance to current pricing, interest rate concerns and several other factors. While December's number is still above 50, it is at its lowest point since April, 2003. The national average was brought down by a 33 reported for the Midwest.

Magna owner misused influence according to minor shareholder

The founder of Magna International Inc, Frank Stronach, is being accused of misusing the assets of MI Developments, a publicly-traded company that acts as the real estate wing of Magna International.

According to lawyers for Greenlight Capital, Inc., a 10% owner of MI Developments, Stronach used "oppressive conduct" to direct the resources of MI Developments towards propping up another of his companies, Magna Entertainment Corp. This third company runs several racetracks across North America.

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Writen by Alex Tonel

Now as you have decided to sell your property the point arises, how to advertise for your property so as to get the right response for it? To give an ad in any of the news letter is very simple but before that we must understand that what components should a good ad be made of? What should be the basic structure for it? What information is to be included? What information is to be excluded?

The basic mistake people make while advertising for their property is that they try and include every possible information about their property as if the property is to be sold solely on the basis of this ad. But such ad will lead to drop the ad response, as it is unable to hold the attention of the person reading it. As it seems that providing more information in the ad the lesser would be the response to it. It is not so that you should not provide any information but then it should be chosen carefully. As ad is to grab attention and give u results in the form of visitors approaching you. It is not possible for the reader to approach each and every listed home in the newspaper, definitely they are eliminating some of them. You are not suppose to be amongst eliminated one's. You don't have to give them any such chance.

There are certain factors to be considered while making an ad for your property i.e. it should grab reader's attention, should be able to pull their interest, create a desire and compel them to take an action. Now let us see these factors on an individual basis:

To grab attention of a particular individual looking for such ad you need to make them feel that this ad relates their search. The simplest way to do this is start your ad with mentioning the name of the city or place your home is in. It's very simple. If anyone desires a place at such location will start reading your ad.

Now since grabbing the attention is not all you need to capture their interest too. The best way to it is to provide some of the financial information as people are very much interested in this information, but in most of the ads it is rarely mentioned to them. Now for giving this information you can contact any of the bank or loan officers and ask them for an estimate for your property. They can surely provide you with a figure you can quote in your ad.

You can also mention the mode of payment you would prefer. Now to create some big desire you can continue giving some positive terms like fenced back yard, fireplace… such terms makes a person feel good while reading your ad.

Now what exactly do u want the reader to do? Certainly you want then to take some action. Now to make that happen you need to provide them with some contact information. You can give then the option for calling you e-mailing you or if you have a website they be given with the URL of your site. The major responses come generally by providing them with the telephone number as its makes the interaction easy for the reader.

So now you know what to do when you are to give an ad for your property.

Alex Tonel is editor of http://www.realmortgagedir.co.uk and http://www.realeducationdir.co.uk

Writen by Bill Guerra

There are a lot of benefits to birddog, forget the funny title, it is the best place to begin your new real estate investment career! No, the pay is initially not good, but one has to decide are they in business for the long haul or looking to "get rich quick?" For the long haul, education is invaluable in our business. Education is precisely what bird-dogging is all about.

A birddog by definition finds motivated sellers for seasoned investors. In return they make $500-$1000 dollars per deal once the investor closes on the house. A bird-dog simply points to the house. Bird-dogging has no risk, and needs no money to place the house under contract.

Many new investors ask me how I get my ugly houses 48-70 cents on the dollar. So after discussing this with new investors I finally wrote an ezine or e-book that discuses in precise detail how to talk with sellers.

The goal is to find numerous investors who one can bird-dog for, by calling the "We Buy Houses" signs and ads ect. Then ask them where they like to buy and rehab houses so you can go to there goldmine areas and find gold. You are looking for vacant houses with unkempt yards, boarded up windows, usually much older houses, the worse the house the better, asking neighbors "who owns the property and do they have the phone number?"

When I was bird-dogging I would show the investor the house, we would agree on the finder's fee, then immediately I would begin to look for the next motivated seller/house. But what typically happens is the investor would turn my deal down time and time again. Turns out what I thought were wholesale deals were not deals at all!

They were mentoring me, and I in turn made them money, while establishing trust, forming business relationships, and finding out which investors could close and who were newbie's. I learned the areas, the houses, the market, the players, timing and many other things that would have taken me months doing it on my own.

When I started out as an investor, I like most had stars in my eyes and a hunger in my stomach for success. In time I began to realize that building a business takes time, knowledge, perseverance, some money (a job helps here), and dogged determination. So by starting as a bird-dog I got a good quick education. I only had to birddog a few times, then began wholesaling. The benefits I received as a birddog proved invaluable. All of the "no's" I got taught me what a "yes" or a real deal was! Hope this helps some and may you have a profitable, and fun investing career.

Bill Guerra (Bill in Vegas)at http://www.WillBuyAnyHouse.com has wholesaled, rehabed, flipped, and birdogged 110 houses in 26 months. Begining with no money, and lots of "elbow grease." He studied a number of real estate investing courses and found a few that were the cream of the crop which contained no "hype" but real meathods from real people, who started with no money down.

Bill was a nurse who got tired of the rat race and wanted to succeed and become his own boss. He did, and after several houses his dreams became a reality.