What is Real Estate

Writen by Nan Wood

Nationally condos have become almost as popular as single family homes for vacation properties. Many families consider their second home as a means of diversifying their portfolio. While the trend is picking up in Wisconsin, the appeal has always been toward cottages and cabins.

Buyers believe that owning homes in two entirely different markets increases the chance that their total equity will continue growing. They also have the advantage of more liquidity. If needed, they could sell one of the homes and live in the other.

Brokers in Wisconsin report the trends are picking up in the area. Buyers in this area are buying cottages and cabins for second homes. Approximately 42% fall in this category while approximately twenty percent buy condos.

The difference in the buying habits today is that buyers are looking for the appreciation in value of the property rather than looking to rent the property. Buyers are also not looking to repair or maintain their vacation property. The trend is leaning toward one of convenience. For these reasons, buyers are vying toward new construction.

Buyers don't want to work. They are buying these properties to visit them and relax in a different environment. Currently Baby boomers are driving this trend. Since they have more disposable income than prior generations had, this trend could continue for some time.

Nan is an Accountant and Real Estate Professional with an information and research site online RealEstateLady and a Business Writer with a blog BusinessTips

Writen by Steven Gillman

Why consider used mobile homes? My own first home was a mobile on a small lot. I bought it for $19,500. With the mortgage payments it was still cheaper than renting, plus I paid it off quickly and later sold it for $45,000. Obviously you can live cheap and build equity with a mobile home. (Buying may be the equivalent of cheap rent, but this article is about mobiles that are on real estate.)

The primary advantages of mobiles over traditional houses are clear for first time home buyers. It may be the only option, for starters. Then there is the lower initial price, the simpler, cheaper maintenance, lower monthly payments, less property tax, lower insurance cost, and perhaps even faster equity build-up (I explain this in another article). Mobile homes do have their own unique problems, so be sure to watch for the following.

Problems With Used Mobile Homes

Sometimes the age of a mobile home makes it tough to finance. If it can be financed, it may be at a very high interest rate. Check into this before making an offer, and take the higher payments into account when comparing your options.

The age of is also a big factor when it comes to insurance. Certain older homes may just be uninsurable. See if you can obtain insurance at a reasonable rate before buying.

Some mobile homes built before 1976 have aluminum wiring. This is a fire hazard because the chemical reaction between the aluminum and other metals cause the wiring to break down, eventually leading to sparking inside the walls (not good). Remove any of the electrical outlet or switch covers, and look inside with a flashlight. If the bare ends of the wires are silvery looking, they are probably aluminum, and you may have to rewire the home to get it insured.

Look for stains on the ceilings. Used mobile homes are prone to leaks. If it is raining and the stains are dry, the leaks have probably been repaired, but if there are many dark stains, at least ask for how long the roof leaked. Leaks that were quickly repaired may not have done much, if any, damage to the supporting beams, but if the roof is seriously sagging there may be rotten wood up there.

Look for wavy walls and crooked door frames. If the mobile is irregularly settling, the walls will sometimes show it. It may also show in the door frames, so see if the gap over the doors is straight in relation to the frame.

Check for spongy floors. Many mobiles have particle-board for floors. If these floors get wet, they can warp and rot. Step down hard here and there to test, especially in the bathroom. I've had to rebuild two bathroom floors in mobile homes. Around the toilet is a common place to find problems, because of the condensation from the toilet running down and soaking the wood around it. Is the toilet level or leaning?

Most of these problems can be resolved, and for much less than in a traditional house, so if there are issues, you may want to see them as an opportunity to make a lower offer. Alternately, you can just avoid the mobiles with problems. In any case, don't give up on owning your own home due to high prices. Just look for good used mobile homes.

Steve Gillman has invested in real estate for years. To learn more about equity building with mobile homes, and to see a photo of a beautiful house he and his wife bought for $17,500 (not a mobile), visit; http://www.HousesUnderFiftyThousand.com

Writen by David Wiltshire

I have been an IFA for over 20 years in Europe and Asia. I have met hundreds of clients with different portfolio's of assets, different expectations and different views. Throughout the 20 plus years I have experienced a number of property crashes and booms in the UK, Europe and in Asia. It is interesting to note that those clients with exposure to property are the ones that in general, have seen the best overall returns over the longer term and therefore have been in a position to retire earlier! My experience has shown me that:

You have to live somewhere.

We all need somewhere to live. The simple choice is whether to rent or buy. Renting offers none of the potential capital gains that can be made from owning your home. If you are an expat I would still advise purchasing a property simply as a hedge against future movements in the property market. This investment would make up part of your total asset portfolio but not your investment portfolio. It's important to make the distinction between property brought to live in versus investment property. But still buy it! It is still an investment even if you want to keep it for your own use in the medium to long term.

They don't make land anymore.

With growing populations the demand for housing continues to grow. The demographics indicate that land will continue to increase in value. So the upside potential for freehold or long term leasehold land / property as a long term investment look good. This is a generality take a look at my article on what and where to buy for more information.

Leverage your money.

Due to the relatively secure nature of property/land assets, Banks and lending Institutions are willing to offer finance The process is generally painless and it is normally easy to gear an investment at attractive rates of interest. In fact in many cases the banks do not insist on regular repayments of capital being made. Consequently the yields that can be achieved based on the capital invested can be very attractive and in many cases can be in excess of 10%pa. There are also potential tax benefits in financing a property investment.

An income producing asset

A major attraction of a property investment is that you can turn it into an income producing asset by renting it out. This provides for a regular income as well as the potential for capital growth.. For many retirees the rentals can provide a retirement income whilst the capital growth can provide a hedge against future inflation. All of this makes property an attractive medium to long term investment.

Inflation proof and you can touch it!

Historically property has outperformed inflation. It can be said that stock market investments have outperformed property but in many cases this has only been achieved by an substantial increase in the annual volatility of the asset and therefore an increase in risk. Timing of property acquisition is important but may not be as crucial as many other asset classes. Another major benefit of property investment, unlike stock and Bond investments, is that you can actually physically see it, which gives a certain amount of emotional security that you often don't get with other forms of investment.

Low risk long term investment that you can enjoy.

If you can hold onto a property through the downtimes the good times will come back. Property has been a cyclical market that normally outperforms it's previous highs (barring pivotal events such as war or storms!) A good long term investment that, in the case of holiday properties, you can also enjoy.

So property should be part of your portfolio here is a check list of key items to consider when investing:

How much do you invest into property?

Asses the % of your portfolio you want to have in property. The % changes depending on your risk profile, your age, your income, your wealth. My broad advice would be at least own one property, either the one you live in or the "hedge" for where you may want to live. Maximum make it 50% of your gross assets. If you want to retire early then get close to this level.

Think liquidity

Property takes time to sell. You should view it as an illiquid asset. In some cases this won't be the case but better to look on it this way. The people who loose in property are the forced sellers. It is not always possible to time the market so make sure you have the cash to wait out any market downturns. It will come back!

Think Currency hedging and gear it!

I would suggest gearing any property investment with a mortgage or where mortgages are not available then using other securities. This hedges against currency movements if you are buying abroad.

Work out expenses

You will need money for the expenses involved in the purchase. Initial purchase costs, maintenance, covering void periods. be realistic about these cost and make sure you have the liquidity to cover these and the income to cover interest payments etc.

Keep focused on your goals

If you are buying for investment purposes then try and keep focused on this. The key is to get good yields and occupancy. Also have an eye for the opportunity for capital appreciation.

So I would conclude that you need to get property into your portfolio, it's generally a low risk but higher yielding asset and offers the security of income. If you get the where to and what to buy equation right then it will lead to good gains and that early retirement.

Where to buy and what to buy are the other key issues? I deal with this in other articles.

Good investing!

Copyright 2005© Dave Wiltshire. All rights reserved.

David Wiltshire has been an Independent Financial Adviser (IFA) for over 20 years, running successful practices in both Europe and Hong Kong. He has worked on property financing and purchasing. He is a Director of VestaLand a boutique property developer focused on emerging European markets. http://vestaland.com/

Writen by David Carter

Successful Property Letting And Management is not something that just happens, it is something that has to be worked at, and planned professionally. When a landlord or an agent has a problem let, it is almost certainly to do with the suitability of the selected tenant. If you do not have sufficient expertise in letting property, then acquire some, or buy some. Speak to your Law practitioner; buy some relevant books, both of these work out far cheaper than the costs involved in dealing with bad tenants.

Many professional letting agents are called in by amateur distressed landlords part way through the tenancy because the tenant might not have paid the rent, they might have refused to leave the property, or they may be damaging the building or abusing the neighbours. The first thing the agent asks is, where is the tenancy agreement?

All too often the agreement has been hastily put together, even scrawled on the back of a cigarette packet. I have seen that. Sometimes there is no discernable agreement at all, sometimes the property has been let to the owner's best friend whom they just happened to have recently met in a local bar, and sometimes it is let to a distant and barely known relative. Surely that would be safe enough, wouldn't it? No, it isn't. Letting a property involves a professional contract between two parties and it should be treated as such. There is no room for making exceptions for "friends" or "relatives" here. All tenants must be dealt with in the same professional manner, regardless of who they are.

The vast majority of problem lets occur because the tenant has not been selected carefully enough, and the references have not been exhaustively followed through. Perhaps the references haven't been taken up at all. Worse than that, occasionally desperate landlords still proceed and insert a tenant into a property even while they are clutching a bunch of bad references, because the tenant has promised not to be a bad boy in future, or girl. How stupid is that? Bad references mean one of two things. Forget it, the preferred option, or insist upon a first class guarantor to sign the tenancy agreement, as well as the tenant.

Landlords may also experience problems because the property is not sufficiently well maintained. This policy is hard to figure out too. It may be a fact that generally properties are much better maintained than they were say twenty years ago, but there is still a swath of landlords who will not spend any money maintaining their property, ever. Talk about pulling hens teeth, and this is such a ridiculous attitude!

Imagine if you owned a manufacturing business that depended on the smooth running of the machinery and equipment for the business's wellbeing. You'd have it regularly serviced right? So what is the difference with maintaining your own property? It belongs to you, it is your asset, and it is probably the biggest asset you will ever own. So why prevaricate when it comes to spending a little money ensuring that it is in full working order? That doesn't make any sense at all, and as everyone knows, a small maintenance problem ignored today, will develop into a bigger and more expensive problem tomorrow. Deal with maintenance problems quickly, and you will always end up paying less for it in the long run

If you intend to embark on a career in property, make a pact with yourself that you will always carry out your business as professionally as any big city agency. If you are thinking of doing it on the cheap, by cutting corners and taking chances, then please don't get involved at all. You'll surely regret it. Taking risks and cutting corners is a sure-fire way of meeting disaster head on. Sooner or later your enterprise will slip into the mire of self-destruction and that will be fatal for your business. Remember the rule, total professionalism always. Anything less, and you'll fail. Guaranteed.

David Carter has written many published articles. His latest work is SPLAM! Successful Property Letting & Management. This 240 page book looks at property letting starting out at finding properties. How to obtain them, how to gain the landlords trust,right through to letting and protecting ongoing lets. The book was written after 10 years successful property management, and after completing 1,000's of successful property deals. SPLAM was originally written for property people operating in Britain, but it is crammed with useful property information and ideas for property people everywhere. A bad tenant is a bad tenant whether they are in Wolverhampton, Winnipeg, Wichita, Wellington or Wagga Wagga! There is an extensive section on how to deal with problem tenancies, and more importantly, how to avoid them in the first place. This book is not marketed and remarketed by everyone this side of the Orinoco,it is only available online from David's publishers though it will soon be found at Amazon and in your local book stores. Check out http://www.splam.co.uk ISBN 1-4116-3444-6

Writen by Nicholas Marr

Selling property privately has many advantages over using an estate agent. However estate agents can provide useful local information not available from the internet. Despite this many who have sold there home privately have benefited from the following:

• Saving thousands in commission
• Savings in time spent selling home

• Experience a wider choice of online services
• A feeling of remaining in control
• Reduction in stress
• A sense of achievement.

Selling property-What is your home worth Selling property privately means that you will have to arrive at the correct price to sell your home.House prices and the value of your home is a major topic for potential buyers and those already on the property ladder. There are now ample resources enabling you to value your own home, making it easier to sell your property privately.

Before you value your property you must arrive at two important figures:

1. The lowest price you will accept for your property
2. The ideal price you would like to achieve

Research Gather all the facts before arriving at a realistic price for your property by:

• Using online House Price calculators which will give you a guide price

• Using the internet to find prices of similar properties in your area

• Looking at House Prices statistics this can help identify the trend over the last 12 months.

• Using house price websites to discover exactly the prices that properties had sold for in your neighbourhood

• Research local paper and estate agents windows.

UK Housing Market Price Data

Halifax & Bank of Scotland House Price Data: www.hbosplc.com/home/home.asp

Nationwide House price index: www.nationwide.co.uk/hpi/default.asp

UK House Price Calculator
ww.nationwide.co.uk/mortgage/tools-and-calculators/hpi.htm

UK House Price-Websites

Net House Prices: Instant online house prices throughout the UK
http://www.nethouseprices.com/index.php?ref=99924

Mouseprice.com Find the price paid for every house sold in England & Wales
www.mouseprice.com

Our Property: Millions of prices direct from the Land registry:
www.ourproperty.co.uk/

UK house price predictions
http://www.housepricecrash.co.uk/

Nicholas Marr
Director of Marr International Ltd a Uk based property marketing company Selling property worldwide on behalf of private sellers,estate agent worlwide http://www.homesgofast.com/sell_your_home.php

Writen by Stephen Todd

Many people are now seeking to retire in Costa Rica - often called the "Jewel of Central America", and its popularity is growing.

So, why are more people than ever looking to retire in Costa Rica? The major reasons for retiring to Costa Rica are:

. Close proximity to the US

. Climate

. Natural beauty

. Culture

. High standard of living for a very low cost

Quite simply, social security checks go a lot further in Costa Rica than they do in the US.

Geographical Location

For many people retiring to Costa Rica, one of the major advantages is its geographical proximity to the US.

Costa Rica is only a few hours flying distance to the southern U.S. mainland. Flights from Costa Rica to the US and Europe are frequent - making traveling easy. In addition, the time difference between Costa Rica and most US cities is just a couple of hours.

Cost of Living

Another reason for retiring in Costa Rica is that the cost of living is so much less than in the US.

For example, dining out will cost you around $12, and a maid will cost you just $150 a month. General household items are about 60% cheaper than in the US, and utility bills are also far cheaper.

In fact, you can quite easy live comfortably on a couple of thousand dollars a month.

Tax Status

When retiring to Costa Rica, one of the major advantages for Americans is its tax haven status - Americans retiring in Costa Rica do not pay income taxes on social security received from the U.S.

Cost of Real Estate

When you retire in Costa Rica, you'll enjoy affordable housing - houses of an equivalent standard to those in the U.S. are available at a far cheaper cost.

While real estate has risen in price over the last few years, you can find small, basic homes from around $80,000 – with a choice of homes to suit your pocket and your lifestyle.

Costa Rican law and its constitution protect private ownership of land - and foreign nationals get the same rights as citizens. Costa Rica has a history of stability and democratic government.

The comfort of a stable political environment - as opposed to other Latin American countries, means retiring in Costa Rica gives you peace of mind, due to your legal rights.

Of course, if you buy a house when retiring in Costa Rica you become part of the real estate boom, that has seen houses bought for $30,000 15 years ago, rise to around $700,000 today.

Healthcare

For many years, Costa Rica has provided healthcare services to visitors from around the world - where they've been able to get world class healthcare at a fraction of the cost of that available in the US and Europe.

When retiring in Costa Rica, most people take out the medical insurance offered by the government's insurance company - this offers cover at just $900 per year for an adult male, aged between 45 and 50 - and this covers 80% of medical costs!

In fact, the United Nations consistently ranks Costa Rica's health services the best in Latin America - and in the top 20 worldwide.

When retiring in Costa Rica, it's nice to know that as you get older, you can enjoy some of the best healthcare around - at a fraction of the cost of the US or Europe.

The Country

Costa Rica is a very small country of around 32,000 square miles - and a population of only 4 million.

Many people retire to Costa Rica for the slower pace of life - and because it's one of the safest countries in the world. In addition, the infrastructure is first class.

Costa Rica is also a beautiful country with diverse scenery. With stunning sandy beaches, mountains, rolling hills, beautiful lakes and huge volcanoes - Costa Rica is truly a country of beauty and wonder.

Another attraction for many retiring to Costa Rica is the climate. For example, if you want the heat of the beach you can have it. However, if you like a cooler, less humid climate - then you may prefer the "Eternal Spring" of the Central Valley and San José. Here the average year round temperature is in the 80's during the day – falling to the 60's or 70's in the evening.

You Deserve It!

Retiring in Costa Rica offers people a different, less stressful way of life, in a beautiful country - and at a cost that will allow you to get much more for your money.

When you retire, you deserve a quality lifestyle - and that's what Costa Rica can offer you.

Discover Costa Rica today!

FREE Guide! - The Secrets of Building Wealth in Real Estate and Land.
How to invest in land with low risk for long term capital growth. Visit our website and grab your free report now!
http://www.CostaRicaLandLots.com/free-wealth-report.php

Writen by John Carle

A big debate these days is whether or not to buy a house, or buy a condo. Most of this debate comes from a lack of understanding about condos, and what they are. Hopefully, the following information will prove to be helpful.

When Buying a condo, are you a tenant?

No. That simply isn't true. When you buy a condo, you are buying a part of the corporation, and are thus an equal owner. It is true that you can be forced to move, if you are really disturbing the other owners, or causing problems. But this is true of residential homes as well. If your neighbors complain repeatedly about smell, health concerns, or criminal behavior, then you may be forced to move. The same holds true in condos and houses alike.

The board can force you to pay thousands of dollars arbitrarily, and without notice.

At first glance, this may appear to be true. But keep in mind that the condo association is made up of owners who have the same goal as you… Having a comfortable place to live that is building equity. The members of the condo association do not make any money from their positions. They are owners like yourself, who are volunteering their time. There can, however, be "special levy's" brought about by unexpected maintenance in the building. The same holds true of a house as well; the expenses just come from a different place. Ask anyone who owns a house how much it cost them for their last furnace. Or how much they spent repairing the water leak, and replacing the shingles. The advantage in a condo association is that you share these costs with the other owners, and are forced to save money in advance for these repairs, through the reserve fund.

Condo fees cost too much each month!

Again, not necessarily true. If you were to add up the amount of money that a family spends over 5 years on the maintenance of their house, you'll usually notice that it equals more than 5 years worth of condo fees. Also, many condo associations pay for their monthly expenses as a group. Heat, water, insurance, and maintenance are examples of such expenses. By purchasing as a group, they can often get these services at a lower rate than a single home owner can.

I could never live in such close quarters

That's probably true. Condos aren't for everyone. Every person has to make their own decision, based upon their own lifestyle; now and in the future. If you have 3 large dogs, 3.5 children, and 4 cars… a condo probably isn't for you. But, if you're a single young executive who works 80 hours a week, or you're retired and travel most of the year, then perhaps a condo is the right choice for you. Only you can make that decision, as it is a lifestyle choice. Here are some factors to consider in your decision.

1. How much time do you spend at home?

2. Do you want to shovel walks and mow lawns?

3. Are you used to having your neighbours far away from you?

4. Is the condo association that you're considering favorable to your children's lifestyle?

5. Do you want a low maintenance home, or do you like tinkering in the yard and garage?

6. Who's going to be living there? What are the neighbors like?

In fact, these are issues to consider on any home, not just a condominium. It's just as easy to get "bad" neighbors when you buy a house as it is when you buy a condo. The best advice that can be given is to research your choices, and be objective when choosing a home. My favorite example of this is as follows:

"A friend of mine asked me to help him find a home. He's a single young man who travels 75% of the time for his job and is rarely at home. When he is home, all he wants to do is sleep and watch TV. He wanted to buy an acreage so that he could have privacy. After looking at the amount of continuous maintenance required for an acreage, he realized that acreage living wasn't for him. He's very happy in his apartment style condo."

Make your own decisions, based upon what's best for you. If a condo is where you'll be happiest, then buy a condo. If a house is what's right for you, buy a house.

About The Author

John Carle & Sharon Gregresh are Realtors with Royal LePage - ArTeam in St. Albert, AB. They pride themselves on providing more than just real estate sales and listings. Their clients benefit from a much larger spectrum or real estate services. Contact them any time at information@workingtogether.ca or through their website at www.workingtogether.ca. They can be reached by phone at (780) 458-5595