What is Real Estate

Writen by Wallace Conway

Seems almost every situation in our lives is centered on communication. Good or bad, the way we express our thoughts, wants, and needs to each other determines how we live, love, and learn together.

As a guy who is a regular on the seminar circuit, does a live radio show, an HGTV television show, writes books, columns, and articles, and all the while runs a thriving home inspection company, I get to do a great amount of communicating. Some of that communication is by transmitting; some of it is by receiving. After much reflection, I have come to the conclusion that nothing is learned when we transmit, but great gains come from receiving. That is to say, we learn when we listen, not when we speak.

Not a day goes by that I am not listening to Realtors. Most days I listen to more than a few, some days more than a dozen, and on occasion, I listen to hundreds at a single seminar sitting. The things Realtors tell me help me get better. Better at home inspecting, better at dealing with customers, better on the radio, just better at every aspect of my professional life! But all that input is not without moments. Those moments range from the amazing to the zealous, sad to humorous, and brilliant to well, less than brilliant!

One of my favorite Realtor quotes follow, complete with my thoughts and commentary. A disclaimer before we begin, if this particular quote sounds like you, know that none of what follows is from a single source, but representative of things I hear on a near daily basis.

"You don't need a home inspection, you're getting a home warranty".

Seems to make sense to some that if items are warranted, their condition is of little importance. But among the problems with this thought are:

1. All items that might fail may not be warranted, and
2. Items presently not functioning would be exempted from coverage as an existing problem.

When explaining the relationship of the home inspection to the home warranty, consider the home inspection to be a physical exam and the warranty to be health insurance. Would you ever expect to hear someone say, "you don't need a physical exam, you've got health insurance"? Doesn't seem to make much sense, does it? That is essentially what we are saying to our customers with the "you don't need a home inspection, you are getting a home warranty" comment!

Let's flip it around now. How about "you don't need a home warranty, you are getting a home inspection". Here's the medical equivalent, "you don't need health insurance, you just had a physical exam"!

Insane!

In so many instances, when I have been able to explain a new or complex home related issue to a customer in equivalent medical terms, they suddenly get it. They seem to understand and are now comfortable. Clearly, most homebuyers are not in the medical profession, but the language is familiar to them. Must be from watching ER or Marcus Welby reruns!

So be clear in your communications with your customers. Be ready and able to clearly articulate a compelling argument for anything you wish to say. And above all, EDUCATE your customers. Educate them on why they need a home inspection, a home warranty, or whatever the subject is. Teach them how to choose a qualified home inspector. Teach them how to make a good decision on any real estate subject or issue. They will love you for it!

This subject and more about the interactions and relationships in real estate are discussed in Wally Conway's book, "Secrets of the Happy Home Inspector", available at GoHomePro.com or Amazon.com. As a speaker, writer, instructor, and host of The Happy Home Inspector radio show every Saturday at 3 PM on WOKV 690, Wally blends the right amount of up-to-date information with just the right amount of humor, insight, motivation, and real-world application.

Visit WallyConway.com or GoHomePro.com for more information!

Writen by Jeanette Joy Fisher

To make the maximum profit on your investment properties, you'll need to save money wherever you can. One way to save significant amounts of money is to mix your own paint.

I recommend that you use only water-based paints. Technology improvements in latex and acrylic paints have made painting easier than it was with the old fashioned oil-based paints, and the new acrylics provide a great-looking finish. Purchasing "oops paint," marked down at home improvement and paint stores, can save hundreds of dollars on your painting projects.

By mixing your own paints, you can also guarantee a harmonious result for the entire house, blending the colors from the exterior to the interior and from room to room. For instance, during one of our projects, we purchased ten assorted gallons of paint from the Restore thrift shop. The paint hade been donated by Lowe's after having been returned by the original buyers, and included a lot of blues, greens, and grays. We used a fifteen-gallon plastic kitchen trash can to mix all the paint together, and then poured it back into the original cans. The color ended up a complex sage-green, which perfectly complemented the existing teal-green tile floor.

We used the original trash-can paint outside first, and then added white interior paint as we continued our color scheme inside, first painting the living room and a bathroom. Then I added a little green to the remainder and painted a bedroom. For each room, we added a little more white semi-gloss paint. As we went along, we saved a glass jar full of each paint blend for touch ups.

Paint experts suggest mixing only the same type of paints: exterior latex with exterior latex; interior acrylic with interior acrylic; interior latex with interior latex, and so on. But we routinely mix exterior and interior paints, and have never experienced any difficulty. The amount of sheen makes little difference in mixing paints, either, unless you're looking for a particular finish.

For one project, I started with five gallons of thrift store baby-blue paint, and then added a quart of black, in order to "gray down" the baby-blue. As we progressed through the bedrooms, I added a little more white semi-gloss latex paint to the mix. When I was done, the entire upstairs of the home blended harmoniously, yet each space had its own color and personality.

For another doghouse transformation, I added amber pigment, which you can pick up at most paint suppliers (but use it sparingly, because a little goes a long way), to five gallons of boring beige paint. We started in the main bedroom with the darker color and added white as we went along. The lightest shade ended up in a living room with a 23-foot-high ceiling.

Remember: oops paint is no different from regular paint. It was just a mistake, for whatever reason, and in case you're wondering how long oops paint can last, we recently drove by our very first doghouse-to-dollhouse home in Apple Valley, California, and the paint still looks great, even though that home was originally painted in 1979.

(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 Jeanette Joy Fisher

If you moved before selling your home, you might be left with a vacant house costing you double mortgage payments. Here are some home staging tips to help you.

Home staging has proven to sell houses in less time and for more money.

According to a report by the Christian Science Monitor, March 2006, staged homes sell for 7.4 percent more and twice as fast. Many home staging services will furnish your vacant house with their furniture and charge you a monthly fee, with prices ranging from $1,000 to $10,000 per month.

These high fees may be worth the investment. However, if you don't have the extra cash, there are simple was to get the staged home advantage without spending a lot of money.

New marketing and interior design psychology ideas help you stage homes for sale to motivate buyers and generate top-dollar offers. Instead of leaving investment houses vacant, add a few props to increase your profits.

To gather interior design ideas, visit nearby model homes and take a close look at the way the interior designers dressed the homes to sell. Notice how the designers under-furnished the model homes by using just enough accessories to make a superb marketing presentation, without over doing it to make the rooms seem crowded or small.

You don't need to add as much furniture to your vacant home to encourage buyers to visualize their own furniture in the home. That's the key to your selling strategy--to make your home FEEL like the buyer's dream home.

Use a few props to dress up your vacant house. This helps you sell quickly for more money in many ways:

• Props chosen with your target buyer in mind help reinforce the desired emotions.
• Props add perspective with visual depth -- vacant rooms look flat.
• Props, especially fabric cover round tables, soften the hollow, echo sound.
• Props help to keep property in the mind of buyers who view many houses in a row.
• Props create focal points for buyers to imagine their own furnishings in the home and get them thinking about living in the space.

Learn how to take advantage of interior design psychology home staging. Find out how to profile your target buyer and use interior design details proven to turn houses into buyers' dream homes.

Copyright © 2006 Jeanette J. Fisher

Jeanette Fisher, America's "Dream Home" Maker, invites you to join a free home sellers teleseminar http://sellfast.info/free_home_sellers_teleseminar.htm. Visit HomeStaging.US for free Home Staging Information.

Writen by Rhiannon Williamson

Are you one of a growing number of people considering buying a second home in the sun, an idyllic home from home abroad or a lucrative investment property overseas? If so you're not alone! Statistics show that globally we're all on the move with a recent survey by YouGov revealing that 55% of adult Britons were "seriously considering settling in another country" and the British Centre for Future Studies predicting that by 2020 one tenth of the current British population will be living or working abroad!

Add to this the fact that there was a 250% increase between 2000 and 2004 in the number of Britons buying property abroad solely for investment purposes, that over one and a quarter million Brits own second homes in Spain and France already and that the Office for National Statistics in the UK recently revealed that 200,000 Britons go overseas yearly with the intention of remaining for at least twelve months, and you can see that the passion for buying that dream home abroad is universal.

But what's fuelling this ever growing interest in the overseas property market?

Well, despite reports to the contrary the UK housing market is seemingly ever on the up and those Britons who're acquiring massive levels of equity through their residential property are considering selling up, buying abroad and establishing a pension fund simply on the back of what they have left over from their house sale. Others in Britain can't actually afford to get on the first rung of the property ladder and some are looking abroad to find more affordable housing. Then of course there's the state and confusion surrounding the pensions market which is getting ever worse meaning that a growing number of Britons are considering the option of buying a second property abroad to let out for an income towards retirement. Others just share a commonly held dream of owning a holiday home in the sun or escaping the rat race to get a new life overseas.

Whatever reasons you may have for considering buying property abroad one thing is for certain; before you go ahead and buy you should understand some of the far reaching legal, financial and taxation implications of buying abroad. This article examines ten top points worthy of your consideration.

1) The British national obsession with property prices, equity and re-mortgaging is as foreign a concept in many other countries as mushy peas or vinegar on your chips so don't just assume that your second home will rise in value and don't assume that it'll be easy to sell. Do your homework to see whether the property market you're interested in can support and sustain your particular hopes and ambitions for it. In countries such as Northern Cyprus and Bulgaria the real estate market has been suppressed for so long that property prices remain highly competitive and many can see the room for substantial growth in the market. In other countries such as Spain, France and Portugal where the property market has been soaring for years can you expect the same levels of growth to continue? Know that every country's property market is different. If you decide to compare overseas markets to the UK housing market some may not appear as buoyant, however consider examining the longer term trends. Speak to established estate agencies in your country of choice to find out whether the market is stable or stale. If it's stable then you're more likely to enjoy a steady, realistic increase in your property's value rather than the extreme peaks and troughs that the UK market tends towards. If on the other hand the market is stale you need to consider the economy of the country and whether it's due a positive correction any time soon.

2) Factor in regular travel costs needed for visiting your second home when you establish your budget. Keep in mind any extra visits you might have to make occasionally to organise repairs and renovation for example. This sounds so obvious but sadly many people are caught out and find that they cannot holiday in their new home as often as they like: or worse still - once they move abroad they find they can't get 'home' for visits to the family etc. Budget wisely and don't get caught out!

3) If you intend to rent out your second home you must declare this income to the tax man in your country of residence I'm afraid! Furthermore it may be necessary to declare it in the country in which the new house is located depending on the double taxation agreements in place between the two countries. Make sure you seek solid tax advice before making any concrete buying decisions.

4) If you're intending to let out your property make sure you know how much it's going to cost to have an agent manage both the day-to-day running of your property together with organising the rental side of things for you. You'll need a good agent to make sure your best interests are always protected especially if you're not going to remain resident in the country the property is located in. Factor these extra costs into your budget or reduce them from your projected rental income to get a realistic idea of the income potential of your property. Remember you'll still need to pay a management agent during any weeks and months the property remains unoccupied.

5) Consider the local tax implications of buying, owning and selling your property as property and land tax in some countries can make UK stamp duty and council tax pale into insignificance. In Northern Cyprus for example tax rates are not currently excessive but they are subject to change, therefore always get up-to-date tax and fee facts and figures from your estate agent – furthermore, make sure you check the figures with a local lawyer or accountant.

6) Make a will to cover local inheritance tax laws and make sure your overseas property is also detailed in a will held in your country of residence. Specialist legal advice should always be sought when you hold property in more than one country as inheritance laws not only differ greatly depending on the country, but certain local inheritance laws can completely contradict and invalidate your main will.

7) Factor the legal bills that you will incur when buying, renting or selling your property into your overall budget. You can be charged all sorts of extras like notary fees, valuation fees, translation fees etc., and if you factor them in you shouldn't get any nasty surprises.

8) Be aware of the legalities of any contract you enter into. Find a reputable lawyer, get key documents translated, and know that ignorance is never a valid excuse! Not understanding the language in which your key legal contracts are written is a problem, don't ignore the problem! Don't blindly sign on the dotted line; it's your responsibility to get informed.

9) Buying through an offshore company to avoid certain taxes, expenses and laws is sometimes an option open to an individual interested in purchasing abroad. Whether this route is actually the best route is massively debateable! Firstly it depends on the country in which you're buying. Secondly, local agents may be incorrectly advising foreigners by basing their advice on the local situation. This method of approach can be beneficial but it could land you in a whole lot more taxation mess both abroad and at home! There are specialist companies out there who can advise you based on your individual situation and as it's not a case of one method suiting all, be careful and get informed. Find out the following, if you do buy through an offshore company and wish to take the property out of that company in the future how easy will that be to do, will you incur an expense, will there be further tax liabilities if you decide to sell your company owned property, and what happens if you try to take the profit from the sale, will you be taxed? Also consider the taxation situation from the UK point of view and the local situation in your country of choice.

10) What option would you like to take when it comes to financing your purchase? Are you considering equity release or a second mortgage, cash or a mortgage in the local currency? Know the pros and cons of each option. Cash may seem like the easiest and best way to go but do you want to have all that money tied up in a relatively slow to liquidise overseas asset? So what about a mortgage in the local currency? You need to consider the stability of the currency and fluctuating exchange rates. When moving money overseas either in a lump sum or to meet regular monthly financial commitments there are options available to you to reduce currency fluctuation risks – consider spot or forward transactions, speak to a financial adviser or foreign exchange risk expert to find out the options available. If you're considering equity release or a second mortgage this might be a cheap option at the moment – but remember you'd risk losing one or both homes if you fell behind on payments!

When it comes to the considerations you need to make when exploring the idea of purchasing a second home abroad these ten top tips are not exhaustive but should provide some food for thought. Going forward from here you should remain informed; don't enter into an idea abroad that you wouldn't entertain 'back home' and seek professional legal, financial and taxation advice at every step of the way.

Rhiannon Williamson is the publisher of http://www.shelteroffshore.com/ - the online resource that guides you to a low tax, maximum investment profit lifestyle abroad.

Shelter Offshore features three main channels - offshore investment, property investment abroad and overseas lifestyle.

Rhiannon Williamson is also the author of 'The Offshore Advantage' http://www.shelteroffshore.com/index.php/shelter/offshore_advantage/ which teaches readers how to build secure wealth using their secret offshore advantage.

Writen by Matt Morrison

If you are interested in purchasing one of the many Florida mobile homes that are currently for sale, you should be sure you know what to look for in a mobile home purchase. A mobile home can be a great way to own property of your own without the excessive costs of traditional housing. However, knowing what to look for in buying Florida mobile homes is essential to protecting your financial interests.

One of the first things you should know before you purchase any one of the Florida Mobile homes you are considering is that you need to be aware of both the exterior facets and the interior facets of whatever mobile home purchase you make. Buying a mobile home is more than just the features you can see on the inside and out. You want a mobile home that will last a lifetime. As a result, you need to choose one that has been built out of solid construction materials to keep you and the occupants of your mobile home safe. Durable homes will last much longer and will make you a happier mobile home owner in the long run.

Another thing you need to consider before purchasing one of the many Florida mobile homes on the market is the location. Are you planning to purchase one of the many Florida mobile homes that are already located on a lot you can purchase for additional money? If so, be sure to factor in the cost of the lot to your budget projections. If you intend to purchase a home without a lot, don't forget that you will also need to find the perfect lot to fit your new Florida mobile home. You need to check zoning requirements for the lot you purchase to make sure that mobile homes are allowed in the area. Moreover, you will need to make sure the home will fit on your new lot. The cost of the lot as well as the cost of any water, sewer, or gas hookup fees should also factor into your budget for purchasing your mobile home.

When you get ready to make your purchase choice from the many Florida mobile homes, consult with several banks to get the best deal on the mobile home loan. It is important to keep in mind that many banks don't have mortgage options for mobile homes, so checking around might be essential to your mobile home mortgage.

There are many factors when you decide to purchase one of the many Florida mobile homes available on the market today. Taking all of those factors into consideration will help ensure a smooth purchase process.

Matt Morrison is a regular author for Florida South Homes and California Real Estate Pierce

Writen by Michael Turner

Getting your real estate website more traffic is easy if you know how Internet marketing works, not to mention search engine optimization. Your goal is to get as much traffic as possible to your website, but not just any traffic, targeted traffic. Targeted traffic is the traffic that might actually have some interest in your product or service, in this case real estate, and be more likely to buy than untargeted traffic you might pick up. Fortunately, there are five easy steps to help you crush the competition and double your business.

Step #1 - Links

Links to your real estate website on the Internet are very important marketing tools because not only do they increase your rankings with the search engines, they also expose you to more potential traffic. Because of this you must do everything you can do get your site linked to from many different complementing websites. The more links you have, the more traffic you'll receive, and the more sales you'll make.

Step #2 - Keywords

Knowing the keywords that apply to your campaign and using them effectively is very important for driving targeted traffic to your realty web pages. When you use keywords efficiently and someone searches for those precise keywords, your page will be displayed as a result. Search engines give preference to keywords so you should know what you are doing when you start putting keywords in your content.

Step #3 - Directories

Find all of the real estate directories that appeal to your services and your market and submit your website to them. People searching real estate directories will come across your site listing and visit you. This is a great way to increase traffic.

Step #4 - Pay Per Click Advertising

Pay per click advertising is an affordable way to market your real estate site based on keywords and paid advertisements. You only pay for the PPC advertisement when someone clicks on it and visits your website. Many search engines offer pay per click advertising and you simply bid on the keywords you want advertising for. If you are the high bidder you get the first slot, and so on and so forth.

Step #5 - Articles

Place articles on your website about specific topics pertaining to the current real estate market in your area, nationwide, or current interest rates. New and informative information will keep visitors coming back.

If you follow these five tips you will see higher traffic on your website not to mention increased interest in your products and services. You will realize that these marketing tips are easy to use and following them will put your real estate website above all the rest. Don't delay any longer or lose anymore potential clients. Start to work on your Internet marketing campaign immediately and start enjoying the fruits of your labor!

Michael Turner reveals his foolproof way to increase website traffic in his free 7 part mini-series. Grab it free right now at http://www.powertraffictactics.com/

Writen by Joe Cline

Decide to Sell
Deciding to sell your home is a big decision. The first step in this process should be to understand your motivations, expectations, financial considerations, goals and what you plan to do upon the sale of your home. Many people begin the sale process with unrealistic expectations or unclear goals. It then becomes difficult to meet their goals because these goals have never been clearly defined. You must begin to view your house, no longer as your home, but as an investment property that you want to market.

Setting the Price
Of course one of your most difficult questions is the listing price of your house. What price should you ask? This is an important part of the sales process. If you set the asking price too high, you may scare away buyers. Agents who feel that your house would not be a good investment may not even show the house. After the house sits on the market for a while, people begin to feel that there is something wrong with it because it hasn't sold. Even if you could sell your house for an inflated price, many times a lender won't approve a loan on a house that doesn't appraise for that amount and the sale might fall through at the last minute. If you under price the home, you won't realize the maximum potential of your investment.

Many people do a quick comparison of price per square foot, but that does not take several variables into consideration and can sometimes be misleading. Take into account many different factors including other comparable listings, special features of your home, neighborhood and local school information, current market conditions, availability of mortgages and insurance, supply of homes in your area and price range and recent sales.

Marketing Plan
Decide on incentives that to be offered to buyers, determine the best places to advertise, and determine how to show the home. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles.

Prepare the Home for Showing
There are two important ways that you can have an impact in making your house attractive to buyers: property condition and listing price. After deciding on a listing price, setup an appointment with a decorating company. They will give you some suggestions for making your house look its best. This process is called "staging." The suggestions might be simple such as clearing cluttered counter tops. Or they might be more involved such as painting front doors or repairing obvious defects.

The staging company will look at your house from room to room and will offer advice on how to make each room show great. They will also look at the exterior street appeal, backyard and garage. They have a lot of tips that can make your house shine. After this meeting, you will have a list of what you should do to prepare your house for sale. Following these suggestions in a timely manner will ensure your home shows at its best.

Remember that "staging" addresses the appearance of the house and not necessarily other problems, which might become evident during an inspection. An inspection will uncover most defects that eventually may have to be repaired. In this way you can have the repairs done before a potential buyer's inspection uncovers a defect that might cause a buyer to either change his mind or to want a substantial repair allowance deducted from the price. It is a signal to buyers that you are a responsible, reputable seller. It also allows you to have plenty of time to schedule any work that might need to be done.

Offer a residential service contract to buyers. This guarantees the major appliances in your home as well as other systems and structures. You can also include coverage for your house while it is on the market so you don't have to pay for any unexpected repairs.

Marketing the Home
Now the fun begins. Here are some ideas that can be used to promote your home.

• Arrange for a professional evaluation and staging of the home
• Offer a pre-inspection
• Offer a Home Warranty
• Do any necessary repairs
• Put up a yard sign
• Put a "lockbox" on your house
• Take digital photos
• Put listing into MLS
• Prepare Color Flyer
• Send out just listed cards
• Prepare virtual tour
• Arrange Realtor tours
• Send flyers to other Realtors
• Place ad in Buyer's guide
• Place ad in paper
• Consider doing an Open House
• E-mail alert sent to potential buyers and other Realtors
• Showcase house on internet sites

It is important for you to keep your house in perfect condition everyday because buyers or agents might come by at any time. Keep the kitchen clean, make your bed every morning and keep clutter out of sight. It is especially important to keep pets and pet odors under control. Some wonderful added touches are fresh flowers and potpourri or freshly baked cookies.

As agents and potential buyers begin visiting your home either virtually on the Internet or in person, try to obtain feedback from the buyers. Make changes to the showing state, condition, and price as feedback deems necessary.

The Offer and Negotiation
You have an offer, now what? Sometimes the buyer will offer you the asking price and have no special requests. In this case, you sign that you accept the offer. Sometimes, the buyer's offer is a lower price and might have other requests. You should consider what is best for you and make a counter offer. Consider carefully your response because if you counter offer, there is no guarantee that the buyer will respond again. Also remember that, once agreed upon and signed by all parties, an offer becomes a legally binding contract. Never get involved in oral offers and negotiation. If you verbally accept an offer, a buyer has no legal obligation to buy the house and may want to continue to bargain with you to see how low a price you will accept.

No matter how well you have prepared your house and how fairly you have priced it, there is always the possibility of receiving a low offer. It could be a limit to the buyer's ability to purchase. Don't take it personally and react angrily. This is business, it's not personal. You can either reject the offer or make a counter-offer. Try to find out as much as you can as to why the offer was low. Certainly if other offers come in very low or if your home is not being shown or not receiving any offers consider adjusting the pricing.

Once the buyer and seller agree on the terms, the buyer will have the home inspected. If there are any problems that are found during this time period then the buyer can withdraw from the contract. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, try not to let contract fall through. After the limited time period is up, the buyer is legally bound to buy your house unless they are denied financing. In the event of cancellation, the buyer would lose any earnest money. One exception to this is in the case of the buyer not receiving funding from the lenders. In that case then the buyer is not held responsible. For this reason, always ask the buyer's agent for a letter showing that the potential buyer has been prequalified for a loan and, once a contract is signed, ask the buyer's agent to keep you informed of the buyer's loan application progress.

Closing
The exciting day is finally here! Verify in advance that all of the paperwork is in order. Request a copy of the HUD1 statement sheet so that you can read over it before closing. Feel free to ask any questions either before the closing or during the closing itself. Typically this is when you relinquish possession of the house so take the keys to give to the new owner.

Joe Cline is a professional real estate broker, investor, and REALTOR with Coldwell Banker in Austin, Texas. Joe believes in providing world-class service to his clients through educating and coaching them through their real estate transactions.

Joe's committment to education and service is reinforced by his achievement and participation in the Austin Board of Realtors, Council of Residential Specialists, Accredited Buyer's Representative's Council, Texas Association of Realtors, and National Association of Realtors.

Joe holds his Broker's license, the Accredited Buyer's Representative designation, the Certified Residential Specialist designation, the Certified Home Marketing Specialist designation, Cendant Mobility Marketing Specialist designation and the Cendant Mobility Referral Specialist desgination.

You can find out more about Joe and Austin real estate at Joe Cline's personal website at http://www.joecline.com