Category Archives: Real Estate

Best Tips for Organizing Your Home Office

Posted on by

1. Develop clear understandings and guidelines with others in the household to minimize misunderstandings about your home office. Avoid “living” in your office — make commitments to family time and keep them!

2. Choose a location for your office where you like to be. If you have a formal living area you use only a few times a year, but are working at home every day in a place you don’t like — think again!

3. Choose furniture and lighting to suit your individual preferences. If possible, create an L-shape for your desk area with filing space within reach. Consider ergonomic design to protect yourself from fatigue or even injury.

4. Set up your desk so you can process mail quickly. Most people need at least three containers within easy reach of their desk: In – for mail you haven’t yet looked at Out – for items that need to go someplace else File – for items that need to be filed outside the reach of your desk

5. Put wastebasket or recycling containers wherever possible – for example, under your desk, near the filing cabinet, or next to the fax machine. If you are concerned about confidentiality issues, purchase a paper shredder.

6. Create a system for filing paper and electronic information, so that you (or someone else, if necessary) can find any information you need quickly and easily.

7. Divide your files into “Action” (for things you are currently working on) and “Reference” (for information you want to be able to refer to easily).

8. If you are short on filing space, create “Archives” in a less accessible or off-site location for files you are legally required to keep, or for files you rarely use. Keep a list of those files at your desk for easy reference.

9. Make good use of wall space for bookshelves or cabinets for resources such as books, notebooks, magazines, and office supplies.

10. Continually ask yourself “What’s the worst possible thing that would happen if I didn’t have this?” If you can live with your answer, toss – or recycle it — and work happily ever after!

Role Of Real Estate Agent In Vacation And Second Home Markets

Posted on by

Second home sales have been increasing over the last few years with more people becoming second home owners. In 2005 alone, 40 percent of the homes sold were second homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this development in the second home market. Besides these, a major factor that has helped augment the buying and selling of second homes is the real estate professional.
The National Association of Realtors conducted research on the profile of second-home owners in 2006. According to the NAR report entitled ’2006 Profile of Second-Home Owners’, a majority of second home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers purchased their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers purchased their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers purchased directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were second homes and 74 % of the sales were made using the services of a real estate agent.
2. Of the investment properties sold, 85 % of them were previously owned and 62 % of the sales were made using the services of a real estate agent.
The use of real estate agents in second home sales transactions varied according to the home’ location.
1. Buyers used a real estate agent more frequently while purchasing a vacation home located in a suburb/subdivision (56 %) or a rural area (57 %) than for homes in other locations.
2. About 66 % of buyers who purchased an investment property in an urban/central city area or in a suburb/subdivision, used the services of a real estate agent more frequently than those who purchased a home in other locations.
Real estate professionals continue to be the first source of information to second-home buyers (38 % of vacation-home buyers and 34 % of investment-home buyers). The real estate professional also plays a major role when second-home owners plan to buy additional properties. If you are thinking of buying a second home or vacation home, seek out the services of a real estate agent to guide you through your next home purchase.
1. The percentage of second home owners who are more likely to use a real estate agent in their next home purchase is quite high. Among vacation-home owners it is 79 % and investment-home owners 73 %.
2. Among second home owners, 65 % of vacation-home owners and 64% of investment-property owners are more likely to use a real estate agent in their next home sales.
Given these statistics, it is no wonder that the real estate agent plays a pivotal role in helping people buy and sell second homes. So whether you are a second-home buyer or seller, enlist the services of an agent for a smooth, hassle free real estate transaction.

Alphabet Soup? Nope, Those are Real Estate Agent Designations!

Posted on by

What do the letters behind a real estate agent’s name stand for? Real estate agents, like doctors, lawyers, and other professionals can ear designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common designations and certifications are: Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.What does an agent have to do to obtain the designation or certification?e-Pro requires an agent take a class on basic computer skills. It has no real estate content, but ensures your agent can use email and the web. It should really be a bare minimum bar for the technology aptitude of your agent.REALTOR is the one of the easier credentials to obtain (but one of the hardest to live up to). A REALTOR is a real estate agent that belongs to the National Association of REALTORS and agrees to follow the Realtor Code of Ethics. You can read about the code here http://www.realtor.org/mempolweb.nsf/pages/Code?OpenDocumentBroker is a bit harder to obtain than REALTOR. In Texas, for example, a broker license is required to be able to operate your own real estate company. An agent must have their license for 2 years and complete over 600 hours of real estate education prior to applying for a broker’s license. The broker’s license is granted upon completion of an exam administered by the state. Brokers are basically real estate agents with advanced educations.GRI stands for Graduate Realtor Institute. Less than 50% of agents have this designation. The GRI requires 12 days of continuing education with passing grades on three exams. There are no production or time requirements so an agent can literally earn this designation by sitting in class for 12 days and passing the tests. This designation is in no way a measure of real estate sales experience.ABR stands for Accredited Buyer’s Representative. Less than 30% of agents have this designation. This designation combines 2 days of classroom work and an exam with the requirement that the agent show proof of at least five buyer sales. This designation shows that the agent has had both formal classroom time and in the field experience.CRS stands for Certified Residential Specialist. Less than 4% of all agents have this designation. This is the most difficult designation to obtain and is a measure of a high degree of formal education and real world transactional experience. To obtain a CRS, the agent must attend three 2-day classes, pass three exams, and provide proof of 25 closed transactions within the last 24 months. While the transaction experience isn’t a huge amount, it does weed out the inexperienced agents and the classes weed out those agents who aren’t dedicated to continuing education.Other designations are out there, but for the most part they are issued by inconsequential groups and have no real bearing on the agent’s abilities and are used more for marketing purposes than anything else.

Avoid Top 10 Mistakes Made By Real Estate Investors

Posted on by

Real estate investment is perhaps one of the most lucrative forms of investment today. But it is also equally risk bound especially when one is not well versed with the trends and nuances of the real estate market. So if you are contemplating on investing in real estate, it is best to avoid costly mistakes in real estate investment especially when you invest your hard earned money into it. Knowing the most common mistakes made by real estate investors helps one steer away from making such mistakes in the future and ensures good return on investment.
Here are the top ten mistakes made by real estate investors, according to bankrate.com. Bankrate has put together the top ten mistakes after speaking to established, full-time real estate investors and other professionals involved in real estate investment such as bankers. Read on to know them and avoid them.
1. Not planning up ahead. Lack of a proper plan is the biggest mistake made by novice investors. Finding a house after forming a proper investment strategy is the right way instead of looking for a house to fit the plan. Many make the mistake of buying a house because it seems to be a good deal and then trying to see how they can fit it into their plan. Instead of buying a house and thinking one can plan in due course, investors should rather concentrate on the numbers and try to make offers on multiple properties. This will ensure a good property that not only matches their investment model but also works out well with the numbers they had planned for.
2. To believe you can make money quickly. The second major mistake that real estate investors make is to think it is very easy to get rich in real estate. This is only a myth and the reality is that investing in real estate is a long term project.
3. Doing it single-handedly. For becoming a successful real estate investor one needs to build a team of professionals who would assist the investor in his deals. This would ideally include a real estate agent, an appraiser, a home inspector, a closing attorney and a lender.
4. Making excess payment. One another reason that investors in real estate goof up in their investment is by paying too much for the properties they buy. Paying too much and locking up all the funds in the erred property deal will leave you with no money to redeem yourself.
5. Leaving out the groundwork. Not doing your homework could be a costly mistake if you were a real estate investor. Every field of business needs sufficient amount of homework to be done, and real estate investment is no exception. Learn the fundamentals and then venture into investing in properties.
6. Throwing caution to the winds. Investors have to exercise a certain degree of caution and take earnest efforts while making a deal. New investors often fail in this regard and sign a deal without doing adequate research on the property.
7. Miscalculating money flow. Investors whose strategy is to buy, hold and rent out properties need to ensure sufficient cash flow for maintenance. Property managers could be expensive and the owner has to incur more expenses such as mortgage, taxes, insurance, advertising costs etc. Investors have to allocate their budget such that all these expenses are taken care of, or end up having their asset turn into a liability.
8. Lowering the volume. A larger volume of deals or transactions helps in increasing the profits by reducing the impacts of marginal deals.
9. Getting trapped in your own deal. Having more number of options at hand for the property you buy is a wise strategy. This helps one to be prepared for fluctuations in the real estate market. Plans to rent out the house could go awry when the rental market slumps. Having alternative plans helps you cut down losses and tackle unexpected situations.
10. Making incorrect estimates. People who plan to rehab their house need to check if they will still reap the benefits at double the time that they had estimated. This ensures they do not miscalculate and lose money on the deal.

Flooring Provides with High Performance System

Posted on by

Resin bonded flooring provides a high performance system which will undoubtedly meet your specifics for different types of flooring requirements. It is steadily gaining world-wide popularity, especially in the U.S. and U.K. It can be suitable for a wide array of service conditions, from regular foot traffic to constant heavily loaded hard plastic-wheeled trolleys, all the way to severe fork lift truck impact and frequent heavy duty vehicle passage. This category of flooring is a natural winner during floor selection process because it is considered by many to be satisfactorily long-lasting.

If you are considering resin bonded flooring as a stand-out option for your home or industrial improvement projects, it would be very beneficial if you would be able to take the time out to look for contractors who are specialists in resin surfaces, several of these companies are located in the U.K. and they are definitely catering to customized resin bonded flooring, as well as resin bound paving. These contractors carry out domestic or commercial paving services and they would surely be able to furnish you with all the necessary information regarding the general durability description and typical thickness of resin bonded flooring which will best suit your needs and that are readily available in the market.

Commercial paving service manufacturers in the U.K. can produce a variety of decorative resin bonded flooring effects, which can be achieved by incorporating colored particles or flakes in the surface. Slip resistant and anti-static or conductive versions that are mainly used for resin bound paving can also be requested or acquired from industry specialists in resin surfaces located all across the U.S. and U.K.

There is no doubt that most people will normally choose resin bonded flooring over any other material because of the quality of the product. It is also evident that both commercial and domestic paving service contractors are quite happy to take advantage of the versatility of resin bonded flooring or resin bound paving in terms of design and the numerous usable functions where it may be applied.