(Home improvement loans) Tips on Selling Real Estate during a Depressed Market
No commentsBy Dannie Jensen
Real estate is one commodity that many depend upon to get them through the rough times in their investment strategies. The problem is that unlike stocks and bonds, real estate is not the most liquid of assets to turn into cash when the going gets rough and money is needed immediately. This may be the one large drawback when it comes to real estate. You cannot rely solely upon real estate to get you through the financial rough patches, as real estate is a very fickle market.
There is only one way in which real estate can truly be sold in a sluggish market such as the one that is rocking the real estate world at the moment and that is not always a way that is ideal for investors. However by offering an exceptional value to consumers, you can almost always manage to sell real estate. This is by far not the method of choice for investors. Investors are often encouraged to hold onto properties during the rough patches by any means possible (and ethical of course) in order to get the maximum profit they are hoping to achieve in the endeavor. When this is not possible, make sure the property being offered and sold is the best value for the money that is currently on the market.
Play up the attributes of any given property and offer several properties for sell at once (assuming you own more than one). More importantly, offer different types of properties rather than one style of property. If you own a few rentals, a couple of vacation homes, time shares, and perhaps a corporate office building or two put one of each on the market and see which sells more quickly.
Another thing that must be considered in a sluggish market is that you cannot attach an emotional value to the price of the property. This is simply bad business. No matter how much sweat, tears, and blood have gone into the property you must realize that just as it is a business transaction for you, so it is for the person placing the bid. You cannot afford to run off potential bidders by becoming insulting or feeling insulted by their bids. Make a counter offer and see what happens rather than letting emotion rule the day. In a buyer’s market there will be low offers.
There are many who make livings (like most investors are attempting to do) by buying low and selling high. This means they will make an insultingly low offer the first time around to see where the seller stands. This doesn’t mean they are the scum of the earth only that they are in this for the greatest possible profit. Do not take their actions or attitudes personally. They are not insulting you or the property only attempting to gain the most money in the process. Most businesses operate that way no matter what they claim.
Selling property in a sluggish market can be a disappointing and gut wrenching process but it is often necessary for one reason or another. Unexpected expenses arise and money is needed when it is needed. This is after all why we make these investments in the first place, to be able to handle the unexpected twists and turns that life tosses our way.
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Two Ways of Looking at Real Estate
By Dannie Jensen
Everyone seems to be after real estate investments as that is regarded as one of the safest high return investments. There are various schools of thought on real estate investments. Let’s explore two of the most common real estate schools of thought.
One real estate school of thought talks about doing a lot of analysis. This real estate school of thought advocates studying a lot of factors which are generally linked to economic indicators. This real estate school of thought evaluates the economic indicators in many different ways. It takes its cues from a number of financial indices and how they are expected to perform in the near future. This real estate school of thought evaluates various socio-economic indicators at all levels - Global, national and local. This real estate school of thought evaluates inflation and things like value of money today and value of money next year etc. It uses all these evaluations in order to come up with predictions on how real estate industry is expected to fare in the next few years. So, this real estate school of thought tries to determine the buying power of people in order to determine the course of real estate prices. When it comes to evaluating the real estate trend with regards to a particular place (i.e. locally), this real estate school of thought takes into account various local factors like the unemployment rate, the industrial development in the region, the change in tax policies and any events that might affect the real estate prices in the area. It also takes into consideration the surrounding areas and the real estate trend in those areas. So, this real estate school of thought is really followed by arch real estate consultants/investors who know a lot about finance and put all that knowledge to use in determining the trends for real estate industry. However, that is just one real estate school of thought.
The other real estate school of thought doesn’t consider those factors at all. According to this real estate school of thought, real estate is always lucrative at all times and at all places. This real estate school of thought advocates looking for great deals. It’s this real estate school of thought that asks you to go to public auctions, look for distress sales and foreclosures, find motivated seller, rehab and sell, etc. So, this real estate school of thought focuses on getting the information about the best deals in town and taking advantage of them to make good profits.
So, those are the two real estate schools of thought and following either or both calls for time and effort (if you are to make any profits out of real estate investments).
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Ideas for Saving a Bundle on Energy Use at Home - Insulation and Windows
By JT Navary
Insulation
The primary areas in your home that should be well insulated are the walls, attic and floors. Here are a few tips to help you get your insulation project moving in the right direction:
Does your home require extra insulation material? As a general rule, if your home has less than three or four inches of insulation in the attic, it would be a good idea add extra insulating material to achieve the appropriate levels. If none exists in the walls and/or floors, adding insulation is highly recommended.
You will need to determine whether you want to do the insulation work yourself or to use a contractor instead. Take into consideration that some insulation jobs are considerably harder than other household projects.
If you would prefer to have a contractor handle the job, make sure you get several bids. Only hire a bonded and properly certified contractor.
If you tackle the job yourself, be sure to follow installation instructions carefully and pay attention to pertinent safety precautions.
When buying insulating material, note the R-value. It shows the effectiveness of insulation. The larger the R-value the better the insulation.
Determine the type of insulating material you require. There are many different types of insulation products available including sprayed foam, rigid insulation, fiberglass, mineral wool/rock wool, and cellulose. The choice of material will largely depend on the area of the home you are insulating. A knowledgeable salesperson should be able to help determine the best type of insulating material and R-value you need.
Windows
The thermal efficiency of windows is rated by the U-value. This number specifies the window’s ability to insulate. The lower the value, the more efficient the window is at stopping the transfer of heat. The U-value of a window is based on the number of glass layers, the amount of of insulating space between the layers and the design of the window frame. A few tips include:
Inspect windows for broken glass, damaged frames and seals, rotten wood, loose putty, poorly fitting sashes, and air leakage.
For a quick but short-term fix before winter arrives, you can purchase storm-window kits constructed of plastic sheeting that you apply to the interior of your windows. The kits can usually be bought at most building supply stores for $5 to $10 for each window. They generally last from two to four years.
You can reduce heat loss through windows by mounting insulated curtains or drapes on the window’s interior. This will help reduce heat loss during cold weather and keep cool air in during the dog days of summer.
In the winter tie back the curtains if the sun is out to allow passive solar heating, and, during the summer block the sun with your curtains or attach an ultraviolet film to minimize the heating effect of the sun.
During the warmer months, when possible, open two or more windows at night and in the early hours of the morning when there is a breeze. Opening a window on opposing sides of your home will improve the flow of air and provide enhanced cooling.
Caulking & Weather-stripping
In addition to insufficient insulation, air leaks are amongst the leading causes of energy waste in homes.
Check your home for concealed air leaks by using a damp hand or candle flame to detect air leaks. Close all doors, windows and fireplace flues and switch off all ventilating fans to make the air movement easier to locate.
Caulk is most useful on areas that are smaller than 1/4″ wide. When available, use caulking that will remain flexible over a long number of years. If it is not completely hidden, choose a tinted caulk or one that can be painted.
If there are sizeable gaps and holes shielded from sunlight and moisture, use expanding foam sealers to plug them. However, please buy only products identified as ozone safe.
Crack filler or backer rod, is a elastic foam product available in long coils, with a variety of available diameters. It can be used to seal large voids. It also can be used as backing in deep gaps that are to be sealed with ordinary caulking.
Position insulating material behind electrical outlets and switches - potential leaks that are often overlooked.
Jim Navary has been a freelance writer and researcher for more thirty years
covering a broad range of subjects. He is also a licensed real estate salesperson
in the Commonwealth of Virginia specializing in real estate in the
Tri-Cities area of Virginia and, in particular,
Colonial Heights, Virginia, area homes for sale.
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Sunday, November 29th, 2009 at 11:15 pm and is filed under realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
