January 2012 Monthly Archive
January 27, 2012
Determining home values is important for buyers and real estate investors. Although not the same as the asking price, the value of a home can increase or decrease depending on buyers' perceived 'value' of amenities.
Another factor that affects home values is data collected through comparable sales reports. Comp reports provide information about recent home sales in the area. They are relatively easy to acquire in markets where there is considerable activity, but are harder to find in rural areas or communities where people stay put.
Buyers can obtain comp reports from realtors and real estate websites like PropertyShark.com and Zillow.com. When reviewing data it's important to compare apples to apples. Review prices of homes that have similar square footage, number of bedrooms and baths, lot sizes, and built within the same decade.
January 20, 2012
Positive cashflow is one of the most important aspects of real estate investing. Whether buying, selling, trading, or renting properties it is crucial to keep expenses to a minimum to produce profits. Otherwise, properties will become money pits and investors will end up spending more than they earn.
Finding properties that produce positive cashflow can be tricky, especially in today's real estate market. Although there are plenty of great deals, there's much more to investing than locating cheap homes for sale.
Many investors are turning to bank owned homes because these properties are usually priced below market value. While this can be a good strategy, investors need to carefully weigh the pros and cons.
January 15, 2012 | Comments: 1
When seeking out houses for sale it's a good idea to spend time learning about home buying programs, government grants, and financing options. Doing so can help buyers save thousands in interest rates and closing costs, as well as obtaining properties for the best price.
There are all kinds of houses for sale. From handyman specials to elegant mansions and everything in between, buyers can find nearly any type of property they desire. While the foreclosure crisis has left many homeowners without a home, it has also opened the door for buyers wanting to purchase affordable housing.
One benefit of buying bank owned real estate is many properties are eligible for HUD's Neighborhood Stabilization Program grants. Each year, the government provides grants to people that purchase homes in regions with excessive foreclosure rates.
January 06, 2012
Promissory notes are needed to document details about financial transactions. They are used to provide lenders with legal records that can be used as evidence in court if borrowers default on loan terms.
Promissory notes are used with most kinds of loans, including personal, business, auto, and real estate. They can be used by family members, friends, business partners, mortgage lenders, auto financing companies, credit card companies, or any other person or entity that extends credit.
People can create their own document by making use of preformatted promissory note templates or using online services such as those offered at LegalZoom. Of course, it's always a good idea to have a lawyer review forms to make certain they are legally binding in the event of loan default.