Tuesday, December 30, 2008


Understanding the Sellers Listing Price Strategy

The first and foremost important step in purchasing a Toronto home is preparing the offer, as the terms set out in the agreement will dictate your type of lifestyle for the coming years.

To ensure the success of this important aspect of the purchase be sure to set up a meeting with your Toronto real estate agent once you have found the right Toronto home.

It is with your agent that you can go over the specifics of the offer and have the document finalized. Take your time to ensure its accuracy as once you have signed it the document becomes binding and irrevocable.

Once this is complete the offer gets registered and made available to the listing agent, and thereafter the offer presentation appointment is set.

When purchasing in Toronto offer presentations usually take place on the same day, sometimes lasting all day long with back and forth negotiations.

Your Toronto real estate agent handles your side of the negotiation and also presents your offer to the vendor and listing agent.

As these talks can go late into the evening, be sure to make yourself readily available for any sign backs that you may need to consider and authorize.

This article will focus on your different pricing strategies. Keep in mind some work better than others in a weak economy.


Pricing Guidelines:

Below are a few general guidelines for Toronto homes.

1. Poor properties that are under-priced generally sell for asking price, rarely more

2. Average properties that are well priced generally sell for asking price, occasionally more.

3. Excellent properties that are new to the market generally sell for asking price, frequently more.

4. Anything else generally gets sold for below the asking price.


See if the house on which you are bidding is overpriced by comparing the various listing price strategies provided below. This exercise can help you determine a fair offering price.

Listing Price Strategy

#1 Below Fair Market Value

Priced below value, these properties frequently incite bidding wars and end up selling over asking price.

Reasons for listing below market value include the real estate agent suggesting too low a price, or sometimes the vendor simply wants to sell quickly.

#2 At Fair Market Value

Priced very competitive, these homes generally sell fast and very close (near, at or above) to the listing price.

#3 Slightly Overpriced

These properties are generally between five to ten percent overpriced.

Most homes listed for sale use this strategy as they either feel their home is truly worth the price, or they wish to leave some room for negotiation.

#4 Extremely Overpriced

Extremely overpriced properties are generally between ten to twenty five percent overpriced. Vendors may do this for a variety of reasons.

They may genuinely feel that their home is worth that price, but more often than not some real estate agents have grossly inflated the value of the home to get the listing.

Unfortunately there is a natural tendency to work with an agent who quotes them the highest price, putting the vendor in a disadvantageous position when the property remains unsold for quite some time.

The longer an overpriced property stays on the market, the more bargaining power the buyer will have.

About the Author:

Evan Sage is an award winning Toronto Real Estate Agent specializing in working with clients who are downsizing their homes in Rosedale, Lawrence Park, Lytton Park, Hoggs Hollow and North Toronto.

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Property Investment in Cape Verde

Around 400 miles from Africa’s west coast, Cape Verde is an area of 10 small islands in the North Atlantic Ocean. The islands already have tourism on the islands and due to plans to promote the area internationally as a tourist destination, tourism population are predicted to rise over the next few years. As the islands gain in popularity with tourists, they are increasingly seen as a promising property investment.

The summer months of July and October are an ideal visit the islands as the weather is warm and the winds are milder. The interesting mix of Portuguese traditions, African scenery and European architecture provide a uniqueness that will appeal to all types of travelers. The wonderful scenery is different on each island with some flat and desert-like while others are volcanic and mountainous; all of them offer magnificent coastlines.

The biggest and most popular island in Cape Verde is Santiago; it also has the main airport in the capital city of Praia. Nearly 50% of the area’s populace inhabits this island and there is a vibrant atmosphere. Praia, being the capital city is located on the island and has scenery made up of mountains and deep valleys with a beautiful coastline of white sand beaches and black reefs.

Around the island are numerous diving opportunities including exploring shipwrecks on the ocean floor, and the winds are perfect for windsurfing activities. The local people love their music and the islands hold many carnivals, live music venues can easily be found and folk music is a proud tradition.

If you do visit the islands don’t miss the salt mines in Sal, located inside a dormant volcano they are a must for every visitor. Fogo is a single volcanic peak whose slopes are marked with rivers of frozen lava and the beaches of Sal and Boa Vista are spectacular. There are plenty of water activities including surfing, water-skiing and scuba diving, these can easily be booked at your hotel and then relax on the beach with a bottle of the local rum.

Airlines have already established direct flights to Cape Verde from Europe, opening up the islands to international travelers which will assist its progression as a tourist destination and make the area an attractive choice for real estate investments.

Due to the islands natural beauty, friendly people and expected rising economy, the islands are attracting more and more interest from investors. Interest is being shown from all types of investors, including corporations looking for a new area to develop, business people in search of new opportunities and those wanting a holiday or second home. You will find inexpensive flights from Europe and once you are there, it’s hard not to fall in love with the islands.

Anyone looking to invest in a foreign country should really visit there themselves to experience it firsthand. Only you know what you require concerning climate, opportunities and people and taking the time to travel there will answer many of your questions. Once you have paid a visit and decide that it would be a good place to invest in then take a second trip and learn the business practices of the country, they will probably not be the same as in your home-country. If you are planning on running a business there be aware that business practices will be different than they are at home and learn their customs so as not to make mistakes.

If you compare Cape Verde to the rest of Europe properties are inexpensive, you can even find beach front properties still realistically priced. This gives investors the opportunity to establish a new business on the islands in expectation of the increase in tourism levels. Currently the islands are not set up for thousands of tourists and the opportunities are there for the picking. When you consider the low airfares, direct flights to the islands and the spectacular landscape on offer, it is obvious why Cape Verde Property Investments would be an excellent choice for individuals and corporations.

About the Author:

Michiel van Kets provides article services for Peter White who works for Aston Mortgage Services Limited, http://www.ownbuild.co.uk/ a company offering mortgage broker service set up on the basis of delivering competitive products for clients.

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Sunday, December 28, 2008


Apartment Hunting Tips - Tips to Consider Before Choosing Apartment Rent

Renting an apartment represents a strenuous task that requires all of your attention and focus because the final decision will be important for a variety of reasons. Choosing an apartment where to live in for rent, you need to consider several factors related to price, included amenities, location, size, roommate or no roommate and the period of time for which you envision to stay. Those planning to rent a flat need to look over all their options before coming down to that final decision. The guidelines described below will help you with your decision.

Make sure You Visit as much as possible

Renting an apartment represents all about visiting and seeing. Investigate what options are in the area you plan to stay into and then start looking for the sources in which you can find offers of rented apartment. You need to be aware of the bigger context of the whole situation so that you can make the best decision in your case. Therefore, to find out available apartments for rent, you could make some online research or use rental magazines or specialized catalogues where offers of rentals are usually displayed. Once you do that, circle the most interesting ones and then consider visiting the apartments that most interest you, because that way, you will be able to get some sense of the size, location, amenities and most important, the price of the apartment for rent. Thus, you will see on the spot how the apartment looks like and generally, there is no other, better way to be able to narrow your list to a few apartments.

Consider the roommate topic as well. Would you want to have some roommate or more than one roommate? Usually, the prices go down in an obvious way because you are basically splitting the costs together. However, depending on the characters of the roommate, this might make your period in the apartment bearable or not. It can all turn into a significantly better situation or a significantly worse situation, therefore you need to make your decision by taking into account the possibility of a roommate as well. Compatibility, respect for one another, capability to pay the bills and the desire to participate in the household chores are things that you need to discuss or address with your roommate(s).

For one thing, having roommate would mean that you will get to save some extra money each month. Large apartments that are not affordable for one single person can become affordable once you find yourself some roommates and split the costs in pieces. Apartments designed for several people to live accommodate larger living spaces, bigger kitchens, dining room and even family rooms. The space offered and the degree of comfort seem appealing to many people who now envision finding a roommate and settling down with the rental of the apartment.

Nonetheless, before making any irrational decision based on the impulse of the moment, it is necessary that you consider carefully whether you would want to live with roommate. Strangers do not often make good matches in terms of pairing up to live in an apartment and you should know the person really well because you are going to split things up and have access to one’s possessions. You first need to trust one another before choosing to do anything else.

Living styles trust issues and different personalities can always endanger the safety of your relationship with your roommate and thus, create frustration when having to share with a person you don’t like. For instance, your roommate enjoys staying late into the night, watching television or listening to music. Your other roommate might want to go to bed early and rise up early; therefore compatibility regarding sleeping hours is also a thing to consider. Some conflicts may arise if compromise is not accepted. Thus, you need to let go things from yourself in order to create a peaceful environment in the apartment.

Reading the Clauses of the Contract with Extreme care

While you are considering taking or not taking a roommate in the rented apartment, you first need to look carefully at the contract and at the clauses stipulated in it before you can settle down with your decision. For one thing, you need to know that the rental agreement is legal documentation and therefore, before signing it, it is important that you read whatever is stipulated in the contract. Renters are sometimes signing blindly things and thus they might never get to know what they signed for. Because of this, disputes arise and sometimes the righter does not even know that he or she has no right to protest once having signed the contract. Therefore, you need to pay careful attention to the requirements, read everything carefully and only then, put your signature on the piece of paper.

About the Author:

Learn the best decoration of rented apartment for your apartment as well as the insider tips on swapping your rental apartment from the experts at http://www.apartmenthuntinghelp.com, the premier resources on apartment hunting help.

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Are Houses In Arizona On The Way Up? What About Builders In Arizona?

If you’re looking for houses, Arizona is a great place to visit. There are many homes Phoenix Arizona has for sale, as well as builders Arizona offers and new homes Scottsdale is known for. It doesn’t matter what you want in houses, Arizona has something for just about everyone. Whether you want an older home, new construction, or to build your own custom houses Arizona can offer you all of these options and more. For builders, Arizona offers some of the best in the business, and new homes Scottsdale and the surrounding areas can be proud of. Although the economy is a little slow, as long as you’re financially grounded, you should have no trouble finding the home of your dreams. And for houses Arizona has plenty to offer you.

The climate in Arizona allows for better living. There is little to no humidity, and the dry, arid, desert attracts many different types of people looking for homes Phoenix Arizona has to sell. The builders Arizona are very helpful and known for building large, beautiful houses Arizona can be proud of. When it comes to new homes Scottsdale is the area that you want to choose for your location because they’re much better known for new construction than other parts of the state. Ultimately, when it comes to houses Arizona has something for everyone, and all in a climate that you can love and appreciate no matter who you are. It doesn’t matter whether you’re looking for the biggest homes or just nice houses Arizona has a little bit of everything, and a ton of different communities that you can enjoy them in.

Some people might tell you that when it comes to houses Arizona doesn’t have a good market because of the economy. The truth is that as long as you are financially stable and able to afford buying homes Phoenix Arizona has a market that is great for any buyer. You simply need to get a loan from a stable lender and find houses Arizona offers that you can afford in your price range. Another option is to hire builders Arizona is proud to call their own. Known for building the best homes, including new homes Scottsdale builders and other builders are a great alternative to buying an already constructed home. No matter what the state of the economy, you can find houses Arizona that are a great purchase for you and your family.

When it comes to houses Arizona has many qualified real estate agents that can help you to find the home of your dreams. You need to choose one of these people to work with, to make sure that you make the most of your home buying experience with regard to homes Phoenix Arizona. For houses Arizona has some of the best real estate agents around that are ready and waiting to help you, and they can find you homes Phoenix Arizona residents can be proud of. New construction is nice, as well, and realtors can help you find land. With builders Arizona real estate agents are great, as well. They can connect you with everything you need to find the home of your dreams, whether it’s old construction or new homes Scottsdale, and all the houses Arizona has to offer for your home buying needs. All in all, for houses Arizona has plenty to offer and you should check it out if you’re in the market for a new home.

About the Author:

Reed Lattin is a new homes specialist in Phoenix, AZ and the owner of www.savebigonnewhomes.com Check out Arizona's most powerful and free new homes search which will save you huge money and time. We save our clients over $27,000 and our service is free. We are members of the BBB 480-227-5214

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Sunday, September 28, 2008


Realtors Access To MLS And How It Helps You

By: Tina Abraham

Realtors pay a great deal of money to have full access to MLS and its listings; this is how that service through a realtor will help you. Listings of homes are most commonly listed through MLS more so than any other listing service for single-family residences and commercial real estate.

What is MLS? Good question. The MLS listing service is the multiple listing services for the real estate world, both commercial and single-family dwellings. The MLS is listed both as a statewide and nationwide listing service. Through the Board of Realtors in every area, the realtors and agents have the opportunity to sign up for the access of the MLS listing services.

The MLS service contains all the information about each property listing. MLS is a convenient way to view this information, including pictures, measurements, maps and much more. The realtors that register for this service pay annual dues, and additional fees. This does not only include the listings on MLS, it also pays for the evolution of MLS.

Originally this data of houses was on paper, and the realtor would have to research through the books to get the information. Now days with computers and the internet, the MLS service has increased productivity and getting the best deal exponentially.

The realtors have this access that provides a higher level of detailed information about the listings, where the standard visitor only gets basic information. To list with MLS, it is around $400 and to use the MLS as a realtor it is about $1000.

Realtors submit and join with their local, state, and national Board of Realtors. With this joining, the MLS listings will usually include the MLS sign up. MLS listings have roughly 99% of all the homes available in any given area, therefore with the realtor being signed up with the Board of realtors, and the MLS they are able to offer you a wider variety of services, listings and options.

With all that realtors have to do, and since it is hard for them to be in two places at one time, your realtor will have certain plans daily to research the homes on the MLS to show you. They will research the criteria you and him or her discusses, and then they will be able to send you the results via email, or on the telephone. This will give you the opportunity to go by and look at the homes for sale.

If you are selling your home, the realtor will use the MLS to list your home and then you will have a much wider variety, including other agents looking at your home. This opens up the door to better selling opportunities.

MLS listings improve the competitive advantage in the real estate market, simply by creating a more efficient way to look at more homes that fit your needs in a smaller amount of time. The realtor you work with, through the MLS listing service will be able to find the homes and criteria you are looking for quickly and you will be able to beat the competition by getting to the home faster.

The MLS listing services are simple to read, clear to understand and informative when it comes to the listings of homes. This improves the chance of making research of homes easier and more efficient.

When you use your realtor that uses the MLS listing service you get the highest level of quality listings in a timely manner that will increase your chances of getting the better deal.

About the Author:

Tina Abraham is a well-known http://www.tinaabraham.com/ Wilmington North Carolina realtor. To learn more about how Tina can help you sell your house or buy the http://www.tinaabraham.com/ Wilmington NC real estate of your dreams click here or call us at (910) 790-7484.

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The Advantages and Disadvantages of Buying Wholesale Property

By: Juhlin Youlein

Buying wholesale property prices has it’s negative side just as well as it’s positive side. The positive side is fairly obvious. Buying a property at pennies on the dollar is what it is all about. Well, what are the disadvantages?

It sounds great to be able to buy a $100,000 home for $30,000 doesn’t it? Well what if you had to buy a hundred homes to get such a deal? That’s 3 million dollars. Is it a good deal? Well yes it’s a good deal if you have $3,000,000 sitting around. These types of “bundles” are common in getting the lowest priced wholesale property. Big lending institutions design these bundles when they have a hard time selling properties individually or if they have too many properties on their hands at once. These bundles are out there especially in times like this current real estate recession.

If this isn’t a big enough obstacle it is likely that an investor will have to pay cash to get a wholesale property. Bundles are bidded on and are sold to the highest bidder. The bidder has to come up with the cash fairly quickly once the bid is won. Try getting a $3,0000,000 loan in time and it won’t happen. Lending institutions don’t even touch this sort of stuff and hard money lenders will charge an investor an arm and a leg. Also lending institutions will want a complete house to back up their loan to the investor. That brings me to my next point.

The quality of home you are buying with a wholesale property is less than whole often times. If you buy 1 wholesale property or 10 wholes properties, I can almost guarantee that the condition of the home will be less than average. There is a reason the property is being sold at wholesale prices. Usually the home has been sitting vacant for some time and will have been vandalized or burglarized. Often times the homes have been the home to tenants at sufferance. Basically people who saw the home was vacant for a long time and decided to move in without the owner knowing it. That is what you get with a wholesale buy.

So what are the advantages of buying property wholesale? Investors who can afford these types of buys will buy the homes for pennies on the dollar and then will get lucky with several of the homes. One third of the homes will be completely trashed, the second third will be ok and workable, and the final third will be pretty decent homes that have potential. The bulk buyers then turn around and sell the bad property for less than they paid for it probably. The medium homes the bulk buyer will sell to individual investors who can’t buy 100 properties at once but who would like to buy a wholesale property. The best homes they will likely sell on the open market for retail prices. It isn’t a bad gig for a big time investor who has the money and the energy to work such a deal. But often times it is the individual investor who makes out big on the profits without many of the risks.

I will briefly tell you why. The big time investor will likely get stuck with homes that will get condemned or that have clouds on title because the deed wasn’t transferred with a special warrant or something of the nature. The bad third we discussed above can be a huge liability. When the big time investor sells the property to the individual investor, the individual investor will make sure to get a “special warranty deed” or something of the nature. That will protect the individual investor from most liens and clouds on title. As far as condemnation is concerned, individual investors will need to make sure they are buying the wholesale home from a big time investor who is willing to guarantee the home.

Wether you are a one time buyer of wholesale property or if you are an investor who is buying bulk property you can make it big. By weighing the advantages and disadvantages an investor can determine what investments are worth purchasing and which ones are not worth the time.

About the Author:
Where you can buy wholesale property for pennies on the dollar.

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Thursday, September 25, 2008


Who Says the Real Estate Market is Bottoming?

By: Mark Walters

There's plenty of advice floating about the housing market, real estate investing and the state of the U.S. economy. But be careful who you listen to.
Here's a news release issued by the NAR in November, 2003:
"The National Association of Realtors has created a first-of-its-kind campaign, which declares that "It's a great time to buy or sell a home", which will launch today with full-page ads in The Wall Street Journal and USA Today."
Those who purchased a home based on that advice bought into one of the greatest real estate bubbles of all time.
There are many who make their living from the real estate market one way or the other. Be careful about acting on the advice from those quarters. Right now you will hear some of them predicting that the worst of the housing crisis is about over. Really? What about this:
The number of home foreclosures accelerated in the second quarter of 2008 to the fastest pace in 30 years. As interest rates climbed and home values fell more Americans walked away from homes they couldn't refinance or sell.
New foreclosures shot above 1 percent for the first time in 29 years according to the Mortgage Bankers Association. The number of homes facing foreclosure almost tripled since the housing bubble popped in 2005.
Further more, the number of loans with one or more payments overdue rose to 6.41 percent of all mortgages and that's an all-time high.
Crashing home prices are making it near impossible for home owners with adjustable-rate mortgages to sell or get a new loan.
Here's the unvarnished truth, darn few real estate people or economists seem to completely understand the magnitude of the real estate problem.
Peter D. Schiff, Euro Pacific Capital Inc.'s president and chief global strategist explains it like this:
"When real estate prices were expected to rise in perpetuity, the price of a house had two components - one part representing shelter and the other investment. The shelter component was the actual utility and desirability of the house and the investment component was the expected future appreciation."
"My guess is that at the peak of the real estate mania, a $500,000 house might have consisted of $250,000 for the shelter component and $250,000 for the investment component."
During the bubble home buyers were blinded by a home's potential to increase in value. The inflated value would allow the owner to pull out cash through refinancing and home equity loans. That cash would not only offset the cost of mortgage payments, taxes, insurance and maintenance, but also provide the money and credit to buy cars, vacations and other luxuries.
Because of that promised new source of ready cash, buyers were willing to pay greatly inflated prices for houses and take on mortgage payments that they would never even have considered during a normal real estate market.
Lenders felt well protected when home values where climbing, so they began making mortgage loans to almost anyone willing to sign on the dotted line.
Now that the party is over lenders are closely checking on the borrower's ability to pay. With banks and lenders in a state of crisis those lending standards will become even tighter.
Now let's consider the bottom line. Even though it is becoming harder to qualify for a mortgage loan does not mean people will stop buying homes. No, they will just pay less for a home, fewer people will qualify as buyers, so fewer new homes will be needed and fewer will be built.
We've all lived through one of the most startling boom and bust cycles in American history. I hope we've learned something from it.

About the Author:
Mark Walters is a third generation real estate investor and founder of CreatingWealthClub.com. For a limited time Mark is offering his big guide to finding hard money loans for real estate investing free. Free guide to private money loans.

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Positive Times For Property Purchases in Cyprus

By: Hannah Walker

After several troubled decades Cyprus has recently got big on the property market. Just south of Famagusta – one of the towns at the heart of the Turkish invasion - the Mystical sands resort and spa is set to follow the North Cyprian trend and rocket in value pretty swiftly. This bodes well for holiday complexes and luxury resorts in other areas of North Cyprus, such as Paralimni and Bafra.
Famagusta has tall modern apartment blocks along a beautiful stretch of beachfront - miles of golden sand and turquoise water – one of the most acclaimed in the Mediterranean! A strong contrast from the deserted town of Varosha, abandoned by its Cyprian inhabitants when Turkey invaded in 1974, trees grown in the streets and wild dogs roam about, however developers believe that the success of resorts and towns like Famagusta, with its sudden increase in prosperity and popularity, will spread to other largely unexploited areas of the eastern coast and northern Cyprus.
Progress is visible everywhere, a new airport is to open in Larnaca 2010 and areas such as Paralimni - just south of the Famagusta border and boasting some of the best beaches in Cyprus - are not remaining undeveloped for long. Geraint Evans, director of the International property group is working with local developers Karma and jumping on the bandwagon to create a new development, figure-headed by former Liverpool FC hero Ian Rush. Evans spoke about how the popularity of certain resorts has influenced undeveloped areas like Paralimni.
‘There are no golf courses, spas or big name hotels… That is changing as the success of Aphrodite Hills, a five-star golf resort near Paphos, has started to have a knock-on effect on this coast, and Cyprus’s first big marina (one of the biggest in the med) is being built in Ayia Theckla’.
This new Mystical Sands property development in Paralimni will have 345 two-bedroomed, furnished apartments starting from £199,950, set around a spa and possibly a football academy. The developments front man Ian Rush already owns three properties in the Algarve which have tripled in value in the last ten years and he is hoping this holiday home investment will do the same. The properties are expected to earn rental returns of six to eight percent a year and rise in value by ten to fifteen percent annually. However Evans believes most buyers will want to hang on to the properties as personal holiday homes, due to the charm of the area and all it has to offer ‘It resembles England thirty years ago, with low crime and strong family values’… and of course hotter weather!
Retired couples are also flocking to traditional agricultural villages near the sea, such as Avgorou near Famagusta, according to BuySell Real Estate, ‘there is a rise in demand among British buyers for resale properties in Cyprus’. There are also homes, business opportunities and whole new lives awaiting Britons who move to these areas. Gary and Sharon Connor, originally from Kent, moved to Paralimni and now run the Divers Unlimited Scuba centre. Their four-bed house has doubled in price in the time they’ve lived there. Gary Connor spoke about his hopes for the future of Cyprus,
‘There is much more development, with many hotels being brought by developers to turn into luxury apartments. A resolution to the Cyprus problem will increase tourism and open up avenues here’.
Bafra is a beautiful serene area in northern Cyprus; this too has been influenced by recent interest in Cyprus and is currently undergoing a huge development project by Whiterocks and Blue C, who are building luxurious holiday apartments set around stylish courtyards, with many other facilities set for the future. As Cyprus gains in popularity the house prices are rising. Watch these fast filling scenic spaces… this seems to be the new place for prudent property investments.

About the Author:
Hannah Walker is a writer for www.whiterocksbafra.com

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Monday, September 22, 2008


Finding Commercial Property to Rent in Central London

By: Shivani Gurtu-Louth

London offers fantastic opportunities for businesses seeking to relocate or to move there for the first time; it is served by five major airports, the Eurotunnel, rail systems and extensive motorway links. Europe is now closer than ever, being a mere ferry, train or aeroplane trip away, making it perfect for companies wishing to expand abroad. Central London is the hub of this business Mecca and offers exciting possibilities for businesses of all sizes but, with competition for commercial property in Central London reaching an all-time high, which is the best method to find premises that will meet your requirements?

London, as a centre for business, is an ever-changing being, having its own economy and market-pressures. Central London, the city’s core, almost dictates how these factors will affect the rest of the capital and the businesses that are housed therein. To find commercial property in Central London, you will need to employ the talents of a company that is well-versed in London’s idiosyncrasies and unique dynamics. Commercial property estate agents in Central London will have the expertise and knowledge to research what is a very small, but influential, part of Britain’s capital.

A commercial property estate agent will have access to comprehensive lists and details of available commercial property to rent in Central London. They should also have insight into previously untapped areas that could yield benefits to their clients; while there is a lot of commercial property in London, not all of it may be suitable for the specific requirements of a specific business. Using a commercial property estate agent allows you to continue running your company, safe in the knowledge that work is being done ‘in the background’, on your behalf. When the agent has sourced a number of appropriate premises, you can then decide which ones offer enough potential to be inspected.

By nature of their locations, commercial property in Central London can command greater rents than elsewhere in the capital. A commercial property estate agent can advise you on what are reasonable terms and even negotiate on your behalf to ensure that you are getting a good deal. Again, this requires some insight into the marketplace and the ability to ascertain how your company can benefit from moving into a particular locale.

Central London is well served by physical attributes such as road networks and overground and underground rail systems; many services useful to businesses are also established there, as well as suppliers and, hopefully, a new customer demographic. A commercial property estate agent should be knowledgeable as to which services and attributes will be of most importance to the client’s company and be able to source the ones that offer the best value for money. These can be employed during the relocation process to make things run efficiently and links can be established between companies for future business.

In theory, finding commercial property in Central London ought to be no more difficult than finding commercial property anywhere else. However, because this area is such an influential nucleus for business and economy, the competition is fierce. Using the services of a commercial property estate agent not only helps to ensure the process runs smoothly, but can ensure that the business in question gets the best premises available to them at the best price.

About the Author:
Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property agents in London to exclusively represent tenants looking for office space and commercial property in Central London to rent. For interviews, quotes, images or comments contact: Shivani Gurtu-Louth Devono Operations Manager Tel(DDI): +44 (0)20 7096 9911 E-mail: sg@devono.com

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Sunday, September 21, 2008


Advice When Renting Your First Commercial Property in London

By: Shivani Gurtu-Louth

Opening an office in London can be a hugely beneficial step for a company to take. However, before you can begin reaping the benefits that the capital has to offer, you need to find new premises. In order to ascertain whether a commercial property in London is suitable or not, you will need to ask yourself a few pertinent questions.

The first consideration should focus around the sort of property you require and its location. Would it best to have the premises nearer to the business’s employees, its suppliers or its customers? Alternatively, it may be more important to have the business located close to a transport network, such as rail or road systems. And, importantly, the premises have to be within your budget.

Should you manage to find a commercial property in London that is suitable, it may be prudent to approach your bank manager or at least speak to the firm’s accountant to ascertain the impact that the new premises will have on the company’s budget. Next you will need to negotiate with the landlord to get rental terms that are favourable to you – often a difficult and frustrating process.

On the other hand, you may feel it better to place the whole procedure in the hands of a property expert. A commercial estate agent will have a great deal of experience in sourcing available commercial property in London. Whilst you will have to pay for their services, it is worth bearing in mind that mistakes with property can be extremely costly and have even in some cases resulted in bankruptcy.

A commercial property agent will have resources available that you will not, such as a database of existing and up-and-coming commercial properties in London. They can also help you organise the move within the parameters of your budget, taking into account things that you may have overlooked. Factors such as producing effective relocation plans, choosing suppliers during and after the move and a constant budget report can all be implemented by the appointed relocations manager and contribute towards a smooth and efficient process. A commercial agent can also take care of things like surveyors and solicitors and also ensure that the contract you sign provides you with favourable terms, taking into account factors such as the rent and possible increases, the length of the lease and how easy it is to give it up, to whom the responsibility of insurance falls, who is liable for repairs, service charges, financial guarantees and lease protection. These are all commitments that you can expect to find in an agreement, but a commercial property agent will be able to negotiate terms on your behalf that you may not be able to.

Renting a commercial property in London generally heralds a new beginning for most businesses; to ensure that your rental goes as smoothly as possible and does not affect the operation of the company, it would be prudent to research just what a commercial property estate agent in London can offer you.

About the Author:
Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property agents in London to exclusively represent tenants looking for office space and commercial property in London to rent. For interviews, quotes, images or comments contact: Shivani Gurtu-Louth Devono Operations Manager Tel(DDI): +44 (0)20 7096 9911 E-mail: sg@devono.co

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Apartment Buildings - One Of Real Estate’s Most Stable Investment Vehicles

By: Marlon Baugh

With property values plummeting in areas such as Florida, more and more investors and turning their focus from single family housing to multifamily apartment buildings. In the past the main reason why investors choose apartment building is because they like the idea of having the tenants pay down the mortgage and pay the expenses of the property as they enjoy the benefits of real estate appreciation, and if purchased and financed correctly the owners can receive a monthly income similar to what most people make on a regular 9-5 job. Apartment building ownership is no longer suited for just the handy man type investor, as more management companies have become more competitive to handle the head aches associated with tenants for a fee of just 7 – 10 percent. Again it goes back to buying right, with the property financing and apartment ownership can be put on auto pilot.

Multifamily Investing allows for greater cash flow and minimizes risk as you have numerous tenants, when compared to investing in single family homes. This increase cash flow makes it possible to hire a management company and to cover other cost involved with owning a multifamily apartment building.

Even in today’s declining real estate markets such as Florida, multifamily apartment properties have proven to be one of real estates most stable investment vehicles. And as foreclosures continue to increase, people most find somewhere to live and although some may move back in with family, majority will turn to renting Apartments, which as a result will cause low vacancy rates for apartment building, I guess there is a silver lining in this sub prime mortgage meltdown after all. This will lead to a boom in the demand for rental multifamily apartment properties. According to the Mortgage Bankers Association, when it comes to commercial properties, there as been a significant decline in the demand for loans on most commercial property types and minimal decline for apartment buildings.

With Multifamily apartment properties being a preferred property type for most government agencies such as Fannie Mae, makes financing readily available whether buying or refinancing an apartment building. Despite the recent credit turmoil, lenders are still offering 75 to 80 percent financing at attractive rates. As investors check out risk-tolerance levels and other issues involved in owning other commercial property types, multifamily apartment rental loan programs will more than likely prove to be more attractive.

Now if you are considering buying an apartment building, it is important to note what lenders are looking for from borrowers. They like borrowers that have established multifamily experience, managing tenants and usually at least a 680 credit score.

When it comes to the property, they like to see a debt service ratio of 1.20, which means that the property is able to cover the expenses on its own, without assistance from the borrower’s personal income. Also they don’t like properties that have a lot of deferred maintenance, delinquent rent payments and occupancy issues, as these are signs of poor management and as a result poor marketability of the property. This will raise concerns for the lender as now they will be concern with how the property will match up to competing apartment buildings in the rental market over the long haul.

Although there are lenders out there for the borrowers with lower scores or for a rehab type situation, you will find yourself in a short term and expensive loan with rates ranging from 12-18% and also a loan to value of 50-60%. These types of private loans are short term are mostly suited for the experienced investor that like to rehab and flip properties.

About the Author:
Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in mortgage loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Commercial Mortgages. If you would like a Free Copy or to get instant access to the remainder of this Insider Commercial Mortgage Report, please visit http://www.specializedfinancialsolutions.com/commercial.htm or Call 954-678-5796

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Saturday, September 20, 2008


Rent Or Buy? How Does Miami, Florida Residents Decide?

By: Marlon Baugh

At some point in life we are all faced with this question. With today's low rates and a lot of bargain priced properties in the Miami market, makes the dream of home ownership very attractive. The biggest concern for Miami first time home buyers is; can I afford to buy a home? Home ownership does come with a lot more cost when compared to renting such as: property taxes, higher insurance premiums, higher utility cost, and maintenance of the home, just to name a few. When something breaks there is no landlord to call to fix it, so you definitely need to have a good size emergency fund just for these expenses. Recommended $3000-$5000; unless you are handy around the house and can fix such things as the air conditioner when it break.

One of the first steps in preparing to become a home owner in Miami Florida is to pay off as much debt, with the goal of being debt free if possible, before taking on the expense of home ownership.

One of the main benefits of home ownership is that the interest portion of you monthly payments is tax deductible. Your mortgage payment is made up of principal and interest, the interest portion is the larger of the two mainly during the first few years of the loan and this is what you will write off at the end of the year, along with you property tax payments.

Unlike rent payments, your mortgage payment will not increase every year like your rent payment, as long as you get a fixed rate mortgage. However the expenses that you can expect to increase will be taxes and insurance and it varies depending on the area of the Miami that you live in. Since you live in Miami, an area that is prone for hurricanes you can see a spike in your insurance premium especially when there is an active hurricane season.

Once you have been pre-qualified to find out how much house you can afford, you will decide what area of Miami you want to live in. Other than price, other factors to take into consideration are taxes and insurance. I normally recommend that you escrow these payments with your mortgage payment, so that you can take care of it on a monthly basis, versus having to come up with a lump sum at the end of the year. It is not uncommon for new Miami home owner to fall behind on their taxes when they are not escrowed, in which the county will place a lien on your property. And as far as the insurance, if you don't keep your Miami property covered, the lender will force place insurance on your property which is normally about 3 times the amount you would normally pay and this will increase you monthly payment and may cause financial hardship.

Once everything is in order and you want to start house hunting in Miami, I recommend if you are a first time home buyer in Miami to contact a real estate agent, and they can walk you through the process and it is free professional advice, at least free to you, it is the seller for the home you want to buy that will pay them. Now you don't want to just get any agent, you need a Buyers Agent. Why? Because they will be working for you and not the seller, so they will have you interest in mind, where they can disclose things about the house to you that they wouldn't be able to do if they were representing the seller.

Don't try to time the market in Miami to see when it will hit the bottom, that's like trying to beat the stock market, and this can sometimes prove to be costly. In saying that, if you find a home that is reasonably priced and it’s within you price range and you like it, go ahead and buy it. Real Estate has been known to increase in value over time.

Last but not least, always be upfront with your lender, this way neither you or your lender will have any surprises nor you won’t waste any time or money in the home buying process. If they know all your issues upfront they can structure the loan for you and still get you in a good loan program tailored for you needs.

About the Author:
Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in mortgage loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Commercial Mortgages. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://www.specializedfinancialsolutions.com/own-a-home.htm or Call 954-678-5796

Read more articles by: Marlon Baugh

Article Source: www.iSnare.com